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Flag trading the trend

  • #421
  • Feb 28, 2011 5:27am Feb 28, 2011 5:27am
Quoting vince
There is a divergence now, possible loser...
it's so good to watch a live show. I am in the same trade.
the high of the trigger bar is 1.38302, enter above 1 pip,that is 1.38312, and since it's a buy order, the price then should be 1.38332 to buy (2 pips spread), the sl is 1.38142, so the sl is 19pips, then the tp should be 1.38332+19pips=1.38522, am I right?
  • #422
  • Feb 28, 2011 5:33am Feb 28, 2011 5:33am
shall we short if it forms a 123 setup (with good divergence here)?
it will be a counter trend trade, since it's not in the end of a pullback.
Quoting vince
There is a divergence now, possible loser...
  • #423
  • Feb 28, 2011 5:43am Feb 28, 2011 5:43am
yes, to previous 2 posts
(in my opinion)
  • #424
  • Feb 28, 2011 5:46am Feb 28, 2011 5:46am
Quoting vince
There is a divergence now, possible loser...
Another divergence got out
  • #425
  • Feb 28, 2011 6:27am Feb 28, 2011 6:27am
Quoting Divergence
well that was a quickie win
Hi Div,

Is it like this?

Please advice.

Thank You

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Today's You was Your previously Thought.
  • #426
  • Feb 28, 2011 6:33am Feb 28, 2011 6:33am
Quoting Sujith
Another divergence got out
Still in, hidden divergence now
  • #427
  • Edited 6:56am Feb 28, 2011 6:40am | Edited 6:56am
you can look at it that way justin but i just looked at it as trend was down so the setup came and i took it . Good eye on that entry at 805 vince you have to make sure that on close of bar the cci is above 50 its uncanny how many times it keeps me out of bad trades only to find the good ones i just got up i dont trade london session but there was already a win. the new trade you guys got in is a little difficult this is the 5 wave in this uptrend meaning it dont have to go very far past wave 3 get what you can and get out since price is within 4 pips of target i would be looking to exit
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  • #428
  • Feb 28, 2011 6:48am Feb 28, 2011 6:48am
moved my stop to +5 pips and out...
  • #429
  • Feb 28, 2011 6:50am Feb 28, 2011 6:50am
remember rules when you get to within 5 pips of target you move stop the B E then watch price action and if there is a bounce and it comes back a little when it comes back to the area grab it and get out a 85- 90% take of profit is not a sin
  • #430
  • Feb 28, 2011 7:10am Feb 28, 2011 7:10am
Hi Divergence,

In the rare case of a loser, if you see a big candle in the opposite direction closing on the other side of the SMA, do you stick to your SL or get out? Also, is it advisable to take a trade immediately after a session opens, say within 10-15 minutes. I am asking this because some days price tends to whip you early on.
  • #431
  • Feb 28, 2011 7:16am Feb 28, 2011 7:16am
well dont know if i understand question. but because we are not trading mva crosses whipsaws dont really happen here when a loss comes it simply means either the pullback wasnt deep enough or there wasnt a nice flagline as far as london session goes i dont trade it so you may want to do a little reseach to find best time to start to me either 2 am or 3 off the top of my head. Todays entry happened at 340 am so that was good it more depends on the setup and when it happens
  • #432
  • Feb 28, 2011 7:22am Feb 28, 2011 7:22am
after 2 nd peak probabily reduces i have spoken on this about not going to the well to much
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  • #433
  • Feb 28, 2011 7:22am Feb 28, 2011 7:22am
Quoting Divergence
you can look at it that way justin but i just looked at it as trend was down so the setup came and i took it . Good eye on that entry at 805 vince you have to make sure that on close of bar the cci is above 50 its uncanny how many times it keeps me out of bad trades only to find the good ones i just got up i dont trade london session but there was already a win. the new trade you guys got in is a little difficult this is the 5 wave in this uptrend meaning it dont have to go very far past wave 3 get what you can and get out since price is within...
Hi Div,

At 1st i also notice the chart was in down trend.

Below is the process flow what i know after study in your thread;

1. 5 wave (up trend or down trend)
2. look for divergence
3. look for 123
4. 5 wave (up trend or down trend)

Note: now i found 1 more new thing, no matter how's the 1-4 process occur and repeat, all also under HH HL LH LL.

Please correct me if i wrong.

Thank You
Today's You was Your previously Thought.
  • #434
  • Feb 28, 2011 7:25am Feb 28, 2011 7:25am
thats right justin just make sure you have correct HH HL LL LH sequence dont take every single candle cause firstly that would drive you nuts but it would be wrong also
  • #435
  • Feb 28, 2011 7:26am Feb 28, 2011 7:26am
Quoting Divergence
well dont know if i understand question. but because we are not trading mva crosses whipsaws dont really happen here when a loss comes it simply means either the pullback wasnt deep enough or there wasnt a nice flagline as far as london session goes i dont trade it so you may want to do a little reseach to find best time to start to me either 2 am or 3 off the top of my head. Todays entry happened at 340 am so that was good it more depends on the setup and when it happens

I guess my first question wasn't clear. What I meant was if after getting into a trade, it takes a little heat, do you at any point try to get out of the trade early and try to minimize your loss?
  • #436
  • Edited 1:55pm Feb 28, 2011 7:35am | Edited 1:55pm
o now i get it sujith no i have my stop in a correct swing area so you may take a little heat most of the time this setup comes with momentum so there isnt really a lot of heat> In trading if you have a method that generates a high winning pct either you are going to trust it or not and if not why trade it. That goes for every system and every trade if you r not 100% confident in any trading method then dont trade at all
  • #437
  • Feb 28, 2011 7:37am Feb 28, 2011 7:37am
Quoting Divergence
o now i get it sujith no i have my stop a correct swing area so you may take a little heat most of the time this setup comes with momentum so there isnt really a lot of heat> In trading if you have a method that generates a high winning pct either you are going to trust it or not and if not why trade it. That goes for every system and every trade if you r not 100% confident in any trading method then dont trade at all
Thanks for the reply.
  • #438
  • Feb 28, 2011 7:39am Feb 28, 2011 7:39am
time to focus catch you guys at the finish line
  • #439
  • Feb 28, 2011 7:54am Feb 28, 2011 7:54am
so, does that mean we only trade the pullback from peak 1 normally? and we only take one trade per trend?

Quoting Divergence
after 2 nd peak probabily reduces i have spoken on this about not going to the well to much
  • #440
  • Feb 28, 2011 8:01am Feb 28, 2011 8:01am
Quoting peterson00
so, does that mean we only trade the pullback from peak 1 normally? and we only take one trade per trend?
1st trade invariably the best. If you have big pips from first move would you risk 10-15 on 2nd. If thats a winner would you risk on 3rd. As wins stack up its easier to risk small amounts on further moves.

The opp is then also true, if you missed first 2 moves how confident would you be trading 3rd, 4th move risking 15 but no pips in the bank.
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