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Flag trading the trend

  • #2,941
  • Apr 8, 2011 7:51pm Apr 8, 2011 7:51pm
joel afraid of what losing money? you have already lost money by not staying in trade. since you know what its like to lose money stay in trade and see what it feels like to make money i know our trust ultimately must be in god but these setups man will make you some money
  • #2,942
  • Apr 8, 2011 8:02pm Apr 8, 2011 8:02pm
Ya know, the message of your comment is similar to the one my safari guide shared with me last time I was on the dark continent. It wasn't fear of losing money in that case ,it was the fear of that charging lion. I dropped the beast within 20 feet of my guide's feet......He thanked me.....and said, I should probably trade the Forex market.....
Quoting Divergence
joel afraid of what losing money? you have already lost money by not staying in trade. since you know what its like to lose money stay in trade and see what it feels like to make money i know our trust ultimately must be in god but these setups man will make you some money
  • #2,943
  • Apr 8, 2011 8:35pm Apr 8, 2011 8:35pm
party on joel
  • #2,944
  • Apr 9, 2011 1:12am Apr 9, 2011 1:12am
Quoting Divergence
joel afraid of what losing money? you have already lost money by not staying in trade. since you know what its like to lose money stay in trade and see what it feels like to make money i know our trust ultimately must be in god but these setups man will make you some money

Hey Divergence, I dont know why but what you just said made something click in my mind. ohh yes, it's a good click, so thank you!

that's right, Party on Joel! lol...
  • #2,945
  • Apr 9, 2011 5:59am Apr 9, 2011 5:59am
Hi DIvergence

I have been using your system since I first saw it - and IT DOES WORK!!!
Howvere, I would like you to verify something for me - I draw a channel to assist me in drawing the Flag line - when I go to a higher time frame, from H1 to H4, the follwoing happens;

if the H1 channel is opposite to the H4, the outer H1 channel line automatically becomes the Flag for the H4

if the H1 channel is in the same direction as the H4 channel, the H1 Flag becomes the Flag for the H4 as well.

I have a number of screen shots which I believe verifies this which I can attach if you require. Please let me know what you think about this.
  • #2,946
  • Apr 9, 2011 6:13am Apr 9, 2011 6:13am
Quote
paralysis by analysis just follow the plan dont go and reinvent the wheel find the trend if there is non(not talking about overall trend) but are we trending? if not wait for the trend

When you stated the above, were you referring to the market being sideways at that moment??? I´ve attached my chart (eur/usd) can you comment on this please, as i think is crucial to know when we are in no man is land... opolozige if am confusing anyone...

Regards...


Attached Image (click to enlarge)
Click to Enlarge Name: EU94111.png Size: 73 KB
  • #2,947
  • Apr 9, 2011 6:48am Apr 9, 2011 6:48am
Hi Olarion,
You commented on the entry of a div 123. I trade the traditional break of 2 on a 123. I know that's not according to the rules with big D's strategy. I think you get more of an early pop in price at the break of 2.
  • #2,948
  • Apr 9, 2011 11:14am Apr 9, 2011 11:14am
Quoting Toothman
Hi Olarion,
You commented on the entry of a div 123. I trade the traditional break of 2 on a 123. I know that's not according to the rules with big D's strategy. I think you get more of an early pop in price at the break of 2.
++++++++++++++++++++++++++++++++

I know what you are saying. I've studied the traditional 123 and the entry is one pip beyond #2 (or so depending), and have considered applying it here, but I haven't altered the rules for my trading at this time because I'm just now beginning to be consistent.

Maybe I will later, but for the purposes of this thread, I don't think we need to start introducing variables. This, imho, can only cloud the basic trading plan (Which is Extremely Potent as is) for those just coming on board.

My opinions are free of Dogma and therefore can be transitory, and have the sole purpose of keeping me in line.

"With a pure heart, The path is Clear" ~ DW
  • #2,949
  • Apr 9, 2011 11:29am Apr 9, 2011 11:29am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

I know what you are saying. I've studied the traditional 123 and the entry is one pip beyond #2 (or so depending), and have considered applying it here, but I haven't altered the rules for my trading at this time because I'm just now beginning to be consistent.

Maybe I will later, but for the purposes of this thread, I don't think we need to start introducing variables. This, imho, can only cloud the basic trading plan (Which is Extremely Potent as is) for those just coming on board.

[i]My opinions...
I agree diamond, this is a great strategy. Wouldn't want to confuse anyone here so stick to the rules folks and make money as big D says.
  • #2,950
  • Apr 9, 2011 11:33am Apr 9, 2011 11:33am
here's the thing about variables that u might be tempted to use the question is which one and where do u stop looking for more? try the plan as is and after 20 trades that are put on correctly then make an assessment and when u find you have won 80 +% of them u will see its all there already
  • #2,951
  • Apr 9, 2011 2:32pm Apr 9, 2011 2:32pm
Quoting Growler
Hi DIvergence

I have been using your system since I first saw it - and IT DOES WORK!!!
Howvere, I would like you to verify something for me - I draw a channel to assist me in drawing the Flag line - when I go to a higher time frame, from H1 to H4, the follwoing happens;

if the H1 channel is opposite to the H4, the outer H1 channel line automatically becomes the Flag for the H4

if the H1 channel is in the same direction as the H4 channel, the H1 Flag becomes the Flag for the H4 as well.

I have a number of screen shots which I believe...
Growler, I would like to see some screenshots of what you describe. I use the 8 and 12 GMT 4hr charts to help with trend direction and what you describe sounds interesting...
  • #2,952
  • Apr 10, 2011 2:00am Apr 10, 2011 2:00am
Hi

Sure. I have attached one pic that shows the H1 and its flag. The second shows the H4 with the H1 channel becoming the new flag.
This only works if the two channels are opposite to each other.
If they are in the same direction, the orignal flag remains true for both time frames.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H1 with Flag.jpg Size: 41 KB
Click to Enlarge Name: H4 with H1 flag.jpg Size: 37 KB
  • #2,953
  • Apr 10, 2011 9:51am Apr 10, 2011 9:51am
You use a 1:1 RR trading 1-3% per trade. Your win rate is fantsastic but ours probably won't be as good at least for a while.Let's say you trade 1% per trade. If you lose a trade, your balance drops by 1%. If you win the next trade, you gain 1% but you're not back to your original balance since your balance dropped after the last loss. Do you advise against trading a little bit bigger lot size (like 1.2 lots)on the next trade after a loss in order to get back to the original balance? I know that would be a form of martingale but how often are you going to lose 2 or 3 trades in a row. If you don't increase lot size after a loss, you could end up having a string of wins and losses with more wins than losses but still see your balance go down. thanks
  • #2,954
  • Apr 10, 2011 1:10pm Apr 10, 2011 1:10pm
Most of the examples here are on EUR/USD has anyone looked at this on other pairs? I know its been stated "any market any time frame" Has any one traded the method on another pair with the same rules?

I would like to get a few more good trading opportunities a week.
  • #2,955
  • Apr 10, 2011 1:44pm Apr 10, 2011 1:44pm
Quoting shr1k
Most of the examples here are on EUR/USD has anyone looked at this on other pairs? I know its been stated "any market any time frame" Has any one traded the method on another pair with the same rules?

I would like to get a few more good trading opportunities a week.
I would suggest learning the basics of one pair and once you feel you have mastered the concept of the strategy(which can take months), continue on with others. Truthfully, 1 pair is all you need.
  • #2,956
  • Apr 10, 2011 2:17pm Apr 10, 2011 2:17pm
Concerning the money management lot size for example we start month off with say 10000 and we risk say 2% of acct so that would be 200 that ratio stays the same for whole month so if i lose 1 trade and then win the next i am even you dont just trade 2% of each balance because yes if you lose first trade your acct is at 9800 now 2 of that is a risk of 196 so even if you won your acct would be less make sense
  • #2,957
  • Apr 10, 2011 2:29pm Apr 10, 2011 2:29pm
Quoting hndymann
I would suggest learning the basics of one pair and once you feel you have mastered the concept of the strategy(which can take months), continue on with others. Truthfully, 1 pair is all you need.
So that's a no to my question?
I really don't understand why you think this will take months to learn?
Um I guess I will just find out my self I am going to watch this on a few pairs.
  • #2,958
  • Apr 10, 2011 2:34pm Apr 10, 2011 2:34pm
If one just trades the pullbacks on the trends and nothing else one came learn this in hrs even minutes it is really not that difficult i already did the leg work for you just put the trades on in a demo and when you feel you have entered correctly on say 20 trades go live
  • #2,959
  • Apr 10, 2011 2:42pm Apr 10, 2011 2:42pm
Quoting Divergence
Concerning the money management lot size for example we start month off with say 10000 and we risk say 2% of acct so that would be 200 that ratio stays the same for whole month so if i lose 1 trade and then win the next i am even you dont just trade 2% of each balance because yes if you lose first trade your acct is at 9800 now 2 of that is a risk of 196 so even if you won your acct would be less make sense
So in the above example, if you lose a trade for minus $200, you're increasing the lots on the next trade to still win $200. Right?
  • #2,960
  • Apr 10, 2011 3:14pm Apr 10, 2011 3:14pm
no whether your risk is 9 pips or 26 pips it still adds up to $200 risk this is about money not pips
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