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Flag trading the trend

  • #1,261
  • Mar 15, 2011 6:12pm Mar 15, 2011 6:12pm
thefallguy,

You for sure you have the correct attitude.......more winners than losers is the goal. With Flag trading you need to focus on the trend & get that correct & you know the rest. I have added this method to my method as it fits nicely with what I already do & it is simple to implement.

Keep practicing what Divergence has shared & you are already ahead of the average trader just joining the ForexFactory.

_________________________
  • #1,262
  • Mar 15, 2011 6:20pm Mar 15, 2011 6:20pm

Hey Div.

i just meant to say is i am not looking for the holy grail nor do i think it exists. I'm Just trying to improve my trading through a a sound system that with a high probability of wins and at the same teaches me. market movement. I believe this system does just that.



by the way i took the same trade today on the EU, so i must be caching on!

  • #1,263
  • Mar 15, 2011 6:27pm Mar 15, 2011 6:27pm

Thanks for the words of encouragement Ace.
It's nice to have that reassurance to know your on the right track.

  • #1,264
  • Mar 15, 2011 6:44pm Mar 15, 2011 6:44pm
been in this trade for 30 minutes and have gone nowhere hmmmmmmm
  • #1,265
  • Mar 15, 2011 6:51pm Mar 15, 2011 6:51pm
if i dont advance from here i am out
  • #1,266
  • Mar 15, 2011 6:57pm Mar 15, 2011 6:57pm
Divergence,

Great idea that 30 mins. I have a 30 minute rule that I use. After the first 30 mins I review the move & will hold the trade if it is moving in my favor, but if by the next 30 mins I'm not into the pips I will cut the trade. Yes, this can cause you to miss some winners, but it has kept me from seeing losers more times than not. Just my views & it works for me.

________________________
  • #1,267
  • Mar 15, 2011 7:05pm Mar 15, 2011 7:05pm
so much for that no mo tonite can always get back in
  • #1,268
  • Mar 15, 2011 7:07pm Mar 15, 2011 7:07pm
Quoting Divergence
if i dont advance from here i am out
Divergence,
I am not trying to criticize, just most respectfuly trying to understand.
I have recent Swing High at 1.40121. Swing Low at 1.39535, neither one was
taken out,

Would you kindly post a picture of the trade you are unhappy with?
Thank you,
Lietuve
  • #1,269
  • Mar 15, 2011 7:10pm Mar 15, 2011 7:10pm
without putting up a chart is trend up or not?
  • #1,270
  • Mar 15, 2011 7:15pm Mar 15, 2011 7:15pm
Quoting Divergence
without putting up a chart is trend up or not?
I might be mistaken, but the trend is up, though have a very strong resistance at 1.4 and pulling back from it.

Respects,
Lietuve
  • #1,271
  • Mar 15, 2011 7:18pm Mar 15, 2011 7:18pm
yes price has PULLBACK from there and it generated a signal to go long the target would have been 99 so i didnt have to take out high so that was ok its just no momentum tonite so i bailed
  • #1,272
  • Mar 15, 2011 7:25pm Mar 15, 2011 7:25pm
Quoting Divergence
yes price has PULLBACK from there and it generated a signal to go long the target would have been 99 so i didnt have to take out high so that was ok its just no momentum tonite so i bailed
Thanks,
I had a similar situation last night when eu trend was turning around, so for a while I was confused, until later you posted a chart with the last Swing Hign taken out when the trend turned up. That's. why I am so persistent with
this question. Hope it doesn't annoy you.

Lietuve
  • #1,273
  • Mar 15, 2011 7:27pm Mar 15, 2011 7:27pm
nope doesnt annoy me going into asian session its a little tricky i just take where market ended up and continue from there unless the chart shows me somethin g different
  • #1,274
  • Mar 16, 2011 12:35am Mar 16, 2011 12:35am
Quoting tbjohnton
dort, once you have the trigger bar and it has closed, if going long, you enter 1 pip above the high of the trigger bar, if short--1pip below the low of the trigger bar, if price doesnt get to that pt on the next candle, then you wait for the next pullback and trigger bar to form, unless the bar after the trigger meets the criteria (distance from sma, cci) for being another trigger(2nd chance trigger--but can only do this once/pullback)

i think i get this now thanks for the reply. another question DIV

please what do you use to determine your profit target?
  • #1,275
  • Mar 16, 2011 2:22am Mar 16, 2011 2:22am
Quoting dortFX
i think i get this now thanks for the reply. another question DIV

please what do you use to determine your profit target?
Hi dortFx...Profit target is 1:1...check post 33 for how Div manages BE on his trades
  • #1,276
  • Mar 16, 2011 3:01am Mar 16, 2011 3:01am
Quoting antinomian
Trying to apply this method to GJ.
++++++++++++++++++++++++++++++++

Xlnt. Thanks for bring this one to my attention. I haven't really looked at this one because of the spread.
  • #1,277
  • Mar 16, 2011 3:12am Mar 16, 2011 3:12am
Quoting Astrahan1962
Hello. I want to ask, is there a post with all the rules together? I tried to read entire thread (it's difficult for me, English is not my native language) but i confused.

Thank you
++++++++++++++++++++++++++++++++
Hi A. Here's the main posts that cover this all thanks to steel777 compiling it for us. Pg 73 post #1093

BTW you covered everything in the first few pages and I note these posts
for anyones reference : 1,7,13,19,22,25,33,39,47,107,116,13 0
And in post # 294 you again outline the whole system
  • #1,278
  • Mar 16, 2011 3:15am Mar 16, 2011 3:15am
Quoting occamsrazors
Hi dortFx...Profit target is 1:1...check post 33 for how Div manages BE on his trades

thanks occamsrazors

i read it but i did not understand it then but with 1:1 as you said everything becomes clear. thank you all. i am grateful.
  • #1,279
  • Mar 16, 2011 3:28am Mar 16, 2011 3:28am
The GBP/$ offers some good Flag trading opportunities.
  • #1,280
  • Mar 16, 2011 3:43am Mar 16, 2011 3:43am
Just took a cheeky one on the GbpUsd

got out at the doji at my weekly pivot in green for 15 pips...
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd_16_03_2011_Flag.png Size: 33 KB
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