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Flag trading the trend

  • #3,621
  • Apr 18, 2011 2:19pm Apr 18, 2011 2:19pm
Quoting talond
I agree with you, that looke like a valid entry but I've only been at this method for a few days. Some of this stuff looks very subjective. Counting waves and pullbacks and picking 123 formations.


The difference is clear if you pull the chart back, you will see the 'real' peaks and not the smaller ones which aren't to be counted as LH's LL's etc....

That's just an experience thing, try not to worry about it, it will come, but its the first trade your looking for, not 3/4 down the line. If there's any doubt, don't trade it!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #3,622
  • Apr 18, 2011 3:06pm Apr 18, 2011 3:06pm
if setup bar is not touching sma then it must be within 2.4 of touching sma also that 845 trade if you would have gotten in it came within 3 pips of target so you would have move stop to b e but also support was looming at 65 and you needed to go to 58/59
  • #3,623
  • Edited 3:24pm Apr 18, 2011 3:08pm | Edited 3:24pm
Quoting jmf0805
Hey Flaggers,

What would have kept me out of the 1345 GMT (8:45 EDT) setup, 1350 GMT (8:50 EDT) entry on EU this morning. What am I not seeing?

Jon
I took the trade but I had to lower the stop to 26 pips as per rules. It was clearly one of the riskier ones but I still see a legitimate flag trade there; price bounced off 4350 (asian low, broken and clearly re-tested in London session) I held for valid resistance, there was confluence with a descending trendline it bounced off for the 4th time to a pip. After this bounce it pulled back, I have watched this particular s u b developing there was a lot of momentum near close of that bar, it was a kind of setup bar which has immediate follow-through most of the time, watched realtime I decided to go, target was hit in 7 minutes but agree it was a bit wild just because of the s&p news chaos. if there was some fatal mistake on my side and the winner was pure luck I'd like to know it thx.

edit: possibly discussing a bar one hour later?! my s u b closed 4299 and that was 1345gmt or am dumb and can't count
:-anything
  • #3,624
  • Apr 18, 2011 3:13pm Apr 18, 2011 3:13pm
Quoting jmf0805
Hey Flaggers,

What would have kept me out of the 1345 GMT (8:45 EDT) setup, 1350 GMT (8:50 EDT) entry on EU this morning. What am I not seeing?

Jon
Jon,
Before taking any flag trend trade always be checking whether divergence is beginning to set up. If you've seen a long move in one direction already, you can almost be assured divergence is around the corner. At 8:45 EST price had made a big move already and divergence was showing itself from 8:00 on. The setups will get easier to spot as you go.
  • #3,625
  • Apr 18, 2011 4:56pm Apr 18, 2011 4:56pm
Hey Flaggers,

Thanks for all your insight into the "low probability" EU trade at 8:45 EDT this morning. I see great benefit from all your comments.

Bruised but not battered,
Jon
  • #3,626
  • Apr 18, 2011 5:02pm Apr 18, 2011 5:02pm
alas king joel has entered the palace
  • #3,627
  • Apr 18, 2011 5:11pm Apr 18, 2011 5:11pm
Good morning Div, I know that you move to BE when within 5 pips of target, does this rule still applies if the target is only 7 or 8 pips? thanks
  • #3,628
  • Apr 18, 2011 5:32pm Apr 18, 2011 5:32pm
i dont put trade trades on for less than 9 pips if i make it 9 by moving stop and if less than 10 i have stop in place and finger on exit button when i get ahead by 5 and watch p a
  • #3,629
  • Apr 18, 2011 5:35pm Apr 18, 2011 5:35pm
Good thank you Div
  • #3,630
  • Apr 18, 2011 5:54pm Apr 18, 2011 5:54pm
Quoting daft
Hello all and thank you Divergence, this is a great system.

The only thing I don't fully understand is the trigger bar distance from the ma rule.

Example: Trend is down, slight retrace up, flag signal, resumes bear move, trigger bar closes below 10sma. Are you saying the close of the trigger bar has to be within 2.4 pips of the ma?

Additionally, if the trigger bar closes directly on the ma and everything else is a go does that qualify? I think I understand the answer to be yes.

I know these have been addressed but for some reason they...

From Post 3623

if setup bar is not touching sma then it must be within 2.4 of touching sma
  • #3,631
  • Apr 18, 2011 6:33pm Apr 18, 2011 6:33pm
Quoting degil
maybe my density level is above average....I can't get any of the videos up....Help?
Thanks
++++++++++++++++++++++++++++++++

Open a Vimeo "Free" account and then give me your vimeo user name (make it very unique) or skype handle. You need to be on the contact list to have access.

Please be certain you have read at least the first 15 pages, then page 100-120 and last week or two, worth of posts.
  • #3,632
  • Apr 18, 2011 6:36pm Apr 18, 2011 6:36pm
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Open a Vimeo "Free" account and then give me your vimeo user name (make it very unique) or skype handle. You need to be on the contact list to have access.

Please be certain you have read at least the first 15 pages, then page 100-120 and last week or two, worth of posts.
Thanks again Diamond for all you efforts regarding the videos. I will pm later this eve
  • #3,633
  • Apr 18, 2011 6:52pm Apr 18, 2011 6:52pm
sucked into a loser to go short it happens the setup was there just took me out by a few
  • #3,634
  • Apr 18, 2011 7:11pm Apr 18, 2011 7:11pm
Mr. Div.

at what time did you take that trade ?
did you take it on the EU?
  • #3,635
  • Apr 18, 2011 7:11pm Apr 18, 2011 7:11pm
Quoting Divergence
sucked into a loser to go short it happens the setup was there just took me out by a few
++++++++++++++++++++++++++++++++

When this happens to me I call this # 1-800-WHAAAAH
  • #3,636
  • Apr 18, 2011 7:20pm Apr 18, 2011 7:20pm
I think that the EJ was the only one that set up
  • #3,637
  • Apr 18, 2011 7:20pm Apr 18, 2011 7:20pm
I'm very interested, looks simple and effective.
  • #3,638
  • Apr 18, 2011 8:25pm Apr 18, 2011 8:25pm
Quoting diamonddbw
++++++++++++++++++++++++++++++++

When this happens to me I call this # 1-800-WHAAAAH
Diamond, I have to say, you crack me up just about daily.
  • #3,639
  • Apr 18, 2011 8:40pm Apr 18, 2011 8:40pm
Quoting Toothman
Diamond, I have to say, you crack me up just about daily.
Diamond has a good mindset for trading, he can take a loss on the chin and get up joking, which is good
  • #3,640
  • Edited Apr 19, 2011 12:34am Apr 18, 2011 9:05pm | Edited Apr 19, 2011 12:34am
Quoting MeLe
Diamond has a good mindset for trading, he can take a loss on the chin and get up joking, which is good
++++++++++++++++++++++++++++++++

My therapist likes those qualities, my accountant thinks I should seek other help...
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