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Flag trading the trend

  • #601
  • Mar 2, 2011 7:54pm Mar 2, 2011 7:54pm
Pls comment,

Thank You

Attached Image (click to enlarge)
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Today's You was Your previously Thought.
  • #602
  • Mar 2, 2011 7:56pm Mar 2, 2011 7:56pm
justin what am i suppose to say about that chart
  • #603
  • Mar 2, 2011 7:57pm Mar 2, 2011 7:57pm
Div,

What prevents you from entering again on this chart I posted? After the first entry already discussed.

I see a little divergence and possibly all 5 waves being complete. Would this keep you out?
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  • #604
  • Mar 2, 2011 7:58pm Mar 2, 2011 7:58pm
rc you answered your own question did u read my post on money management yet?
  • #605
  • Mar 2, 2011 7:59pm Mar 2, 2011 7:59pm
Quoting Divergence
rc you located it sujith that candle was to far away from the sma .let me explain that. if the sma reading is say 1.3866 and the in this case long candles low is more that 2 pips (2.4 with pipettes) i let them go the price tends to pullback to it so i would wait till it did in this case it didnt and went on to a win but if waited i would have gotten my win 30 minutes later
Yes Div, I was aware of the 2 pip rule but somehow missed the fact that it was so far away from the SMA. A lapse in concentration on my part.
  • #606
  • Mar 2, 2011 7:59pm Mar 2, 2011 7:59pm
Quoting Divergence
justin what am i suppose to say about that chart
i mean the red candle is the entry. Am i correct? Please advice.

Thank You
Today's You was Your previously Thought.
  • #607
  • Mar 2, 2011 8:02pm Mar 2, 2011 8:02pm
to answer the question why only 1 trade? well if you have 42 trading chances asain and us session and you get 20 trades. lets say you win 16 of them and lose 4 and you traded them at 3% each trade what would your acct look like at the end of the month
  • #608
  • Mar 2, 2011 8:05pm Mar 2, 2011 8:05pm
justin the first 2 are wrong the 3rd was was right first 1 cci wasnt above 50 second wheres the retracement
  • #609
  • Mar 2, 2011 8:07pm Mar 2, 2011 8:07pm
Quoting Divergence
rc you answered your own question did u read my post on money management yet?
I figured I answered my own question. I just wish I would see those things real time. Like I mentioned last night. I can make the chart look like anything I want. Just say what it is, and I will force it at times. Banging my head against the wall at times. Sit back, look, study, be patient and follow the rules. Man, how many times have I learned that?

Money management post? #446 about 3% per trade?
  • #610
  • Mar 2, 2011 8:09pm Mar 2, 2011 8:09pm
Quoting Divergence
justin the first 2 are wrong the 3rd was was right first 1 cci wasnt above 50 second wheres the retracement

Ya, noted. But why the second one wrong? Over bought zone?

Thank You
Today's You was Your previously Thought.
  • #611
  • Mar 2, 2011 8:09pm Mar 2, 2011 8:09pm
yes only trade that way when you stop banging your head against the wall lol. FIND A TREND WAIT TILL IT PULLSBACK WAIT FOR ENTRY AND SCORE ITS REALLY THAT SIMPLE
  • #612
  • Mar 2, 2011 8:13pm Mar 2, 2011 8:13pm
justin price already moved 100 pips overbought is correct thinking see thats how you learn to analyze what you are seeing. a chart is like a moving photograph if some one asks you about the photograph you begin to discribe it well princible works the same way on the chart once you guys grab these simple truths you will be dangerous traders
  • #613
  • Mar 2, 2011 8:21pm Mar 2, 2011 8:21pm
Quoting Divergence
justin price already moved 100 pips overbought is correct thinking see thats how you learn to analyze what you are seeing. a chart is like a moving photograph if some one asks you about the photograph you begin to discribe it well princible works the same way on the chart once you guys grab these simple truths you will be dangerous traders
Damn. .. Thats y money can't buy the experience.

All the best.
Today's You was Your previously Thought.
  • #614
  • Mar 2, 2011 8:23pm Mar 2, 2011 8:23pm
tomorrow another day sleepy time nite
  • #615
  • Mar 2, 2011 10:07pm Mar 2, 2011 10:07pm
Hi D

First time posting in your thread. Thank you for sharing.

Could you please tell me why this one failed? Its not in US session.
Thanks for any insight
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Why do people only post a nice trending period chart?
  • #616
  • Mar 2, 2011 10:34pm Mar 2, 2011 10:34pm
Quoting yuhu
Hi D

First time posting in your thread. Thank you for sharing.

Could you please tell me why this one failed? Its not in US session.
Thanks for any insight
CCI never went past 50.
  • #617
  • Mar 3, 2011 12:39am Mar 3, 2011 12:39am
Quoting Divergence
rc you located it sujith that candle was to far away from the sma .let me explain that. if the sma reading is say 1.3866 and the in this case long candles low is more that 2 pips (2.4 with pipettes) i let them go the price tends to pullback to it so i would wait till it did in this case it didnt and went on to a win but if waited i would have gotten my win 30 minutes later
Div,
I took both trades as marked the attached chart, and I thought I understood your entry method, but now I'm not sure. The triangles point to the trigger candles (crossed above 10ma and CCI moved above 50), and entry was on the next candle (1 pip beyond the trigger candle's high). Both entry candle lows were more than 2 pips from the MA, which is actually too far from the MA, is that right? Thanks for clarifying...
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  • #618
  • Mar 3, 2011 12:43am Mar 3, 2011 12:43am
Quoting yuhu
Hi D

First time posting in your thread. Thank you for sharing.

Could you please tell me why this one failed? Its not in US session.
Thanks for any insight
As said Sujith .. you were under + 50 CCI
Attached Image (click to enlarge)
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  • #619
  • Mar 3, 2011 2:00am Mar 3, 2011 2:00am
GBPNZD short:

Entry @ 2.1866
Stop @ 2.1928
Profit Target 1 @ 2.1805
RRR: 1:1

Did not take this trade but just practicing my entry; as I noticed trend changed to the downside; we then had a pullback or retracement when RT/CCI went above +50. PA resumed the downtrend and the trigger candle crossed both the 10MA & flag. Entry is 1-2 pip below the trigger candle with stop at or above the previous swing and profit target equal the risk.

Comments/correction appreciated.

Thanks Divergence & all

George
Attached Image (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
  • #620
  • Mar 3, 2011 3:10am Mar 3, 2011 3:10am
Very nice thread, thanks to Divergence !

I like it that Divergence provides a basic price action method that can be applied to all timeframes.

I`m subscribed !






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