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Flag trading the trend

  • #2,981
  • Apr 10, 2011 8:18pm Apr 10, 2011 8:18pm
Quoting Rcwso
Divergence just discussed this on the webinar page. He said he would not take it because it was not near a support or resistance area. It was in the middle and he did not like it. He waits for it to be near support or resistance and then pullback.

Also, he said the 10 MA is a SIMPLE MA. Not a EMA. He showed his indicators. Also described in the PDFs I posted/created a couple of weeks back.
Thanks Rcwso for the clarification..
I Definitely was not paying attention..Will switch to a 10SMA Median HL/2

Question>>> "He waits for it to be near support or resistance and then pullback"
... The support or resistance bounce previous to the set up bar??.. Would that be correct ??

Thanks again for the clarifiaction
  • #2,982
  • Apr 10, 2011 8:19pm Apr 10, 2011 8:19pm
Quoting TraderinSD
Thanks Rcwso for the clarification..
I Definitely was not paying attention..Will switch to a 10SMA Median HL/2

Question>>> "He waits for it to be near support or resistance and then pullback"
... The support or resistance bounce previous to the set up bar??.. Would that be correct ??

Thanks again for the clarifiaction
No problem. That was a huge clarification point for myself. Now I understand some of the bad trades I have taken. I almost took that one myself. Eating dinner instead. Glad I learned something from that one and others also.
  • #2,983
  • Apr 10, 2011 8:33pm Apr 10, 2011 8:33pm
Quoting Rcwso
No problem. That was a huge clarification point for myself. Now I understand some of the bad trades I have taken. I almost took that one myself. Eating dinner instead. Glad I learned something from that one and others also.
Thanks again Rcwso and Div...

Most appreciated for the critique and clarification !!... Now that I think about it, Diamond had also mentioned the SMA vs. EMA settings... I just was not catching it... mmmm?? That not good ???
  • #2,984
  • Apr 10, 2011 9:14pm Apr 10, 2011 9:14pm
Quoting TraderinSD
Thanks again Rcwso and Div...

Most appreciated for the critique and clarification !!... Now that I think about it, Diamond had also mentioned the SMA vs. EMA settings... I just was not catching it... mmmm?? That not good ???
++++++++++++++++++++++++++++++++

Another good thing to keep in mind before entering a trade, is;
"Do I have room for my trade to reach it's target before it hits S/R".

i.e. ~ If you need 16 pips from your entry to your target, and you have S/R only 8 pips away, for me, this would be a deal breaker. No trade here for me.
  • #2,985
  • Apr 10, 2011 9:18pm Apr 10, 2011 9:18pm
here is recorded link let me know if it works http://www.anymeeting.com/tradingthetrend/EE56DA8584
  • #2,986
  • Apr 10, 2011 9:33pm Apr 10, 2011 9:33pm
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Another good thing to keep in mind before entering a trade, is;
"Do I have room for my trade to reach it's target before it hits S/R".

i.e. ~ If you need 16 pips from your entry to your target, and you have S/R only 8 pips away, for me, this would be a deal breaker. No trade here for me.
I agree...must always have room... Like when I took this long... had room to the 4482 area... Was looking for the break... granted that was about 13 p but I was loking for the break of that area, such was not the case.
Actually I partial to 2 lots as I trade Index's 2 contracts primarily on the NQ mini...Always take a partial @ 2 pts...Here I'm still looking the appropriate area for this particular method..I'm thinking 10p or first S/R... Then move the stop to BE plus a pip. I am a big one for trade management as I scratch this last trade. And as we saw it continued to move against the position so this was the correct trade move.

Just my way of trading...Has saved me $$$ on the minis as I blew my first account many years back...Man that was ugly too!!!

Is there a quicker way to post charts.. The way I am doing now is time consuming.. Took the long on the EU 4454... Again ????..this was based on the bounce of the 4442 area support..
Target is 4482.. which also the previous pivot highs


Your thoughts
  • #2,987
  • Apr 10, 2011 9:35pm Apr 10, 2011 9:35pm
Yes Div works well
  • #2,988
  • Apr 10, 2011 9:40pm Apr 10, 2011 9:40pm
td this method is based on wins and losses not on pips what happens if target is not reached? how do you manage money? etc i have outlined the whole thing but if you chose to do it your way be my guest and good luck
  • #2,989
  • Apr 10, 2011 9:52pm Apr 10, 2011 9:52pm
Quoting Divergence
td this method is based on wins and losses not on pips what happens if target is not reached? how do you manage money? etc i have outlined the whole thing but if you chose to do it your way be my guest and good luck

My sincere apologies Div... Was not trying be rude, act like a know it all, or discount your method in any way. Actually like this method very much... I was trying to adapt it to my style of trading... No disrespect was ever intended.

I will keep my opinions to myself going forward...

Thank you for a great method

TSD
  • #2,990
  • Apr 10, 2011 9:54pm Apr 10, 2011 9:54pm
Hi Div,

Video looks good. Thanks!
  • #2,991
  • Apr 10, 2011 11:50pm Apr 10, 2011 11:50pm
Is there a quicker way to post charts.. The way I am doing now is time consuming..
++++++++++++++++++++++++++++++++

If you are not using "ScreenHunter," Free version, go here: http://www.wisdom-soft.com/products/screenhunter.htm

Select where to save your SShots & it's easy to upload to FF. If you need more help with that let me know. We need more evidence!
  • #2,992
  • Apr 11, 2011 1:15am Apr 11, 2011 1:15am
Hi Diamond
Just downloaded screenhunter, do you do all your markings and edits on MT4 before you save, or do you have paint with the tools etc?
regards
Barry
  • #2,993
  • Edited 1:32am Apr 11, 2011 1:30am | Edited 1:32am
Quoting MeLe
Hi Diamond
Just downloaded screenhunter, do you do all your markings and edits on MT4 before you save, or do you have paint with the tools etc?
regards
Barry
++++++++++++++++++++++++++++++++

Mostly I use MT4 and before I do a screen capture. When I have time I will use a program called "Voila"
but I believe it's Mac only. MT4 has good capability. I really only use the other program to keep up with Mr. Hollywood (Div)
  • #2,994
  • Apr 11, 2011 1:35am Apr 11, 2011 1:35am
Thanks D
I have been trading now for ten years, only 6 months forex, and have never made an attachment, I have never found a system worth responding to until this one, thanks to Div, yourself and others
Regards
Barry
  • #2,995
  • Apr 11, 2011 1:39am Apr 11, 2011 1:39am
I will nominate Mr Hollywood for an Oscar
  • #2,996
  • Apr 11, 2011 2:22am Apr 11, 2011 2:22am
It's looking like alot of what Div calls "Sticks". Long tails on candles. Not one of his favorite trading environments.

I'm seeing some, what appears to be increased volume in dollar index, stocks & commodities.

The g/u has some direction but still to jumpy for my taste. We may just need to sit on our hands for the next 5-6 hours.

omo
  • #2,997
  • Edited 2:45am Apr 11, 2011 2:30am | Edited 2:45am
Hey Diamond,

I agree on the "sticky" environment. I got in on the 4:45 GMT setup (including what I thought was a "div") for the EU, taking some heat.

Jon

PS. Congratulations, Divergence, your "Flag Trend Trading" thread has achieved the 200 page threshold!
  • #2,998
  • Apr 11, 2011 3:04am Apr 11, 2011 3:04am
gu anyone?
  • #2,999
  • Apr 11, 2011 3:12am Apr 11, 2011 3:12am
Quoting d4n
gu anyone?
++++++++++++++++++++++++++++++++

Almost but no.
  • #3,000
  • Apr 11, 2011 3:20am Apr 11, 2011 3:20am
Quoting d4n
gu anyone?
no..too close to S1...but i took GJ instead...nice and quick 25 pips
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