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Flag trading the trend

  • #681
  • Mar 4, 2011 4:53am Mar 4, 2011 4:53am
exited -1. even if i win 63% of times, it still will be a break even pl.
  • #682
  • Edited 5:24am Mar 4, 2011 5:22am | Edited 5:24am
Cable & EURJPY trades
Attached Image(s) (click to enlarge)
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Low Risk Low Stress High Reward High Probability Trades
  • #683
  • Mar 4, 2011 5:23am Mar 4, 2011 5:23am
GBPJPY & CHFJPY trades
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Low Risk Low Stress High Reward High Probability Trades
  • #684
  • Mar 4, 2011 1:59pm Mar 4, 2011 1:59pm
Wow 919.....did you take all of them ? I was watching today with Divergence´s template setup, it really is as he says that patience is required to really find a trend and NOT jump in blindly.

Attached a possible break on usdchf very late :

Would you wait until price breaks below a pivot line ( even a middle m ), or take it immediately ?

I know it`s not the time of day and Friday, but maybe the situation arises again during prime hours.

I like the simplicity of the chart setup. Thank you Divergence !



___________
michael
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Be like water.
  • #685
  • Mar 5, 2011 3:50pm Mar 5, 2011 3:50pm
Hi guys,
I have been making my way through the thread as of late and I had a question about something that was posted back on page 31 or so. Div talks about risking 3 percent of the acct on a trade. If I was to use oanda and I have 10000 in my acct and I use 3 percent which is the 300, wouldn't that be like trading .3 lots, pls help clarify this for me. The way I read that post I come under the impression that if you win the trade you make 3 percent and if you lose the same thing but if the trade is .3 lots and I'm looking for maybe 20 pips how would that equal 300 dollars. Pls correct, kind of confused. Thanks in advance.

Mannai
  • #686
  • Mar 5, 2011 4:59pm Mar 5, 2011 4:59pm
Quoting mannai70
Div talks about risking 3 percent of the acct on a trade. If I was to use oanda and I have 10000 in my acct and I use 3 percent which is the 300, wouldn't that be like trading .3 lots, pls help clarify this for me. The way I read that post I come under the impression that if you win the trade you make 3 percent and if you lose the same thing but if the trade is .3 lots and I'm looking for maybe 20 pips how would that equal 300 dollars. Pls correct, kind of confused.
Your risk is dependant on the size of your stoploss. Here is how you can calculate your risk:

CapitalToRisk = Risk/100*Capital
LotSize=CapitalToRisk/(Stoploss*TickValue)

Ex:
Risk = 3%
Capital = $10000
--------------------------------------------
CapitalToRisk = 3/100*5000 = $300

Stoploss = 20pips:
TickValue = $10 (4 digit broker. 1pip = $10)
-----------------------------------------------------
LotSize = 100/(20*10) = 1.5
  • #687
  • Edited 7:51pm Mar 5, 2011 7:35pm | Edited 7:51pm
RISK = the percentage of account balance you would like to risk.
STOP = distance in whole pips + spread.

(((AccBalance/100)*RISK)/STOP) = Lot Size.

eg,

For a mini account

AccBalance = 10,000
RISK = 3%
STOP = 22pips + Spread of 2.4pips
= 24.4pips

Therefor

(((10000/100)*3)/24.4) = Lot Size
Lot Size = 12.29
Lot Size = 12.3

And for this strategy, STOP = TARGET.

Thanks Divergence,

Very clear thread, extremely informative!

Shan.
  • #688
  • Mar 5, 2011 7:37pm Mar 5, 2011 7:37pm
Somehow I missed the prior post. Doh!

Shan.
  • #689
  • Mar 6, 2011 11:07am Mar 6, 2011 11:07am
Quoting Divergence
please pay no attention to the man behing the curtain of post 346 obviouly he is not following the rules and is paranoid that if everyone follows this the market will change and it wont work again with that said concerning the divergence trades i have already explained that when divergence forms and it gets triggered 90% of the time it unfolds in a 5 wave pattern. So how do i know when it triggers? well a 123 forms first and if i get a candle after it forms thats high or if short its low is within 2 pips of the 2 point thats when i take it here...
Hi Div,

I no so clear about the divergence. I want to know is it possible the setup 123 can be below attachment?

"So how do i know when it triggers? well a 123 forms first and if i get a candle after it forms thats high or if short its low is within 2 pips of the 2 point thats when i take it here again are 2 charts"........Not so clear abou the word...is it mean the new candle form after point 2 must within 2 pips of the point 2 candle low/high not matter the we got short/long?

Thank You

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Today's You was Your previously Thought.
  • #690
  • Mar 6, 2011 1:39pm Mar 6, 2011 1:39pm
well a new week begins and new trend trades to enter. Yes justin that chart is exactly what i am talking about concerning divergence and it is confirmed by a 123
  • #691
  • Mar 6, 2011 2:23pm Mar 6, 2011 2:23pm
Hi D
I am interested if you have any comments on the 4 charts posted by 919, as far as I can see there really wasn't any well developed trend in the majority of them and with the benefit of hindsight they look like great trades but don't really follow the basic rules of this strategy.
  • #692
  • Mar 6, 2011 2:26pm Mar 6, 2011 2:26pm
Possible long trade setting up on aussie - any views?
  • #693
  • Mar 6, 2011 2:29pm Mar 6, 2011 2:29pm
well the gbpusd on friday maybe he was looking at divergence and then 123 maybe the other one was already in uptrend so thats ok just the times they took place might be a little questionable
  • #694
  • Mar 6, 2011 2:37pm Mar 6, 2011 2:37pm
yes siver that is what a setup looks like but trading this early is not a good thing not enough traders yet and spreads will probably be higher
  • #695
  • Mar 6, 2011 2:42pm Mar 6, 2011 2:42pm
hey joel pm d u
  • #696
  • Mar 6, 2011 2:46pm Mar 6, 2011 2:46pm
I didn't take it because of the time of day but wish I had now! Not to worry there will always be another train coming along.
  • #697
  • Mar 6, 2011 2:55pm Mar 6, 2011 2:55pm
i understand not everyone can trade the hrs i do from around 645-7 pm start till 830 pm for asian session and the us session the best thing to do is this if you know the setup and can trade the london session do some backtesting and see what is best hr to start and finish at the top of head i would say 2 am est till 6 am but you need to find the right time where it consistently finds wins
  • #698
  • Mar 6, 2011 3:42pm Mar 6, 2011 3:42pm
Quoting Divergence
well a new week begins and new trend trades to enter. Yes justin that chart is exactly what i am talking about concerning divergence and it is confirmed by a 123

hi Div,

The white 123 was mentioned by you at earlier post and the yellow 123 was added my me. So, both 123 setup also correct?

And, not so clear about what this mean......"So how do i know when it triggers? well a 123 forms first and if i get a candle after it forms thats high or if short its low is within 2 pips of the 2 point thats when i take it here again are 2 charts"?

Thank You
Today's You was Your previously Thought.
  • #699
  • Mar 6, 2011 5:43pm Mar 6, 2011 5:43pm
the beauty of my trading times is especially the asian i either get a trade in first 1 1/2 hrs or not it limits screen time there will be 5 to 8 a month so i just remain patient and wait till they come not tonite so maybe tomorrow
  • #700
  • Mar 6, 2011 5:55pm Mar 6, 2011 5:55pm
Hi Div,

Could you comment my post #656

Thanks..
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