Flag trading the trend

Yo Div.

if hourly says trend is up 4hr says down weekly says up monthly says down yrly says up etc etc etc which do u go with and what relivence does it have on 5 min chart? don't get paralyzed by over analysing

who r we? we r daytraders think about that

Div, what do you do after div+123 trade if it didn't take out previous swing? what i mean is, do you still look for flags to go back in to the direction before divergence or you wait until price breaks either way?

We always have an option for not trading at all you know... Many days I spent without entering trade at all. This is simply because I dont see what I like on the chart. I tend not to trade at all if I see the chart on the left leaving to much wicks behind or going back and forth in huge candles. If I doubt the trend then I dont tade and doing something else which more fun to do, like shooting, playing PC games or hang out with friends.

I try not to think or analyse the market too much. Just regular check on higher TF. Candles can go anywhere they want and does not matter what other timeframe says. Trading for me is about doing repetitive thing to almost the same pattern (the pullbacks pattern).

M5 is my main screen. If I see a rapid move during market active hours and I like the pullback (do not retrace more than 50% of the move itself) then I will enter as it join back the move and try to follow (many trend follower system do this anyway, with or without indicator). I did not win all the time doing this but I have learned that this already give me a good chance to win in the end. Because I always use bigger TP than my SL that allow me to still win even if I lose 60% of all my trades. So the secret lies also with the MM and not only on the mechanical things.

Well, this perhaps because my brains is too small to do more complicated things. . You guys are always free to do what you want with your trade...


NG

nuff said, gotcha..just wanted to be sure.

Hey Flaggers,

It is my observation as we continue to mature in our understanding and application of this outstanding trend trading method we will take fewer trades but better trades (those with highest probability of success)...quality not quantity.

Happy pipping this week to all,
Jon

That is what I am finding also but a the same time I am slowly building up my trade size as the weeks go by. So it makes up for the over trading. Ray

I agree. It really shouldn't be too difficult to find 2-3 good trades per week with this strategy. I'm talking about strictly by the book trades. When in doubt, no trade. And if you trade 1-3% of the account per trade, should be very profitable. I'm trading 1% right now but will increase that with more confidence. Good trading.

rookie move by me i shorted eurjpy and i saw a bounce around 76 then a freeze so i bailed and they it dropped to a win grrrrrrrrrrrrrr

I see what ya did there.... I've been watching it, waiting for the next one

123 Div setting up on EJ ?????

well i thought i had an entry for EJ but...I have a max 20 pip sl and it went beyond that range....so i'll keep fishing


what ya think of the EU? looks like it's breaking out of that channel it's been in for a week and heading south

yes 123 at the r zone it was a 19 pip senario and that was the s zone but a rookie mistake did manage a 1/4 of a win need the other 3/4 in us session again all i can say is grrrrrrrrrrrrrrrr if i waited 2 seconds more i would have scored

E/J - setting up div. at support level. Not trading on a Sunday night, just watching.

hey guys i had saw something in the thread that might confuse a few about finding the trend if you want i can do a quick webinar and show you know let me know how many want to come

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I got a piece of that one off of the 123, but wasn't crazy about the trade. Just saw that it was returning to the trend. However was in heavy traffic so not real excited about it. Pulled the plug as soon as it hit support @ 119.73, for 7.6. I really expect a big bounce there. You know the rest.

Also took second flag, but it looked even weaker and it was getting late, so I gave back 4 on that one. Good night.

Yes please Div

if you want to meet me at the webinar spot here is linkAnyMeeting.com/tradingthetrend1

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Let's do this.