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Flag trading the trend

  • #3,781
  • Apr 20, 2011 10:16am Apr 20, 2011 10:16am
took a long on the GU, only problem was i hadnt put my top resistance line in and didnt see the triple top forming. closed out for a 4.5 pip gain.

went long US/CH moved my sl just over BE but it came back for the pullback and stopped me out at a 2.5 pip gain.

Hell, I'll take any gain over a loss any day
  • #3,782
  • Apr 20, 2011 10:16am Apr 20, 2011 10:16am
Quoting Divergence
hey tony wack the bum then feed him to the fishes
it cracks me up because i work with a guy from Newark and you two sound like bruddahs
  • #3,783
  • Apr 20, 2011 10:50am Apr 20, 2011 10:50am
cci only 35 for flag setup why?answer was joel kept price down to block my trade thanks joel
  • #3,784
  • Apr 20, 2011 11:01am Apr 20, 2011 11:01am
Quoting Divergence
cci only 35 for flag setup why?answer was joel kept price down to block my trade thanks joel
hey H, you trading on the 'phone?

Dr Gray (London)
  • #3,785
  • Apr 20, 2011 11:05am Apr 20, 2011 11:05am
So now that I feel comfortable with the flag method, I'm trying to train my eyes to spot 123's but having a hard time, seems easy looking at the bar charts in a book but not so much on live charts with candles

Heres a recent screen cap from the EU
When I look at the highlighted area i see a 123 sell pattern, PA went up right after this , what am I missing?


**edit: I think I just spotted the problem...the tops of the two green candles are even, if it were a valid 123 sell the 2nd green top would have closed below the first, correct?
Attached Image
  • #3,786
  • Apr 20, 2011 11:10am Apr 20, 2011 11:10am
Quoting gimmie3pips
So now that I feel comfortable with the flag method, I'm trying to train my eyes to spot 123's but having a hard time, seems easy looking at the bar charts in a book but not so much on live charts with candles

Heres a recent screen cap from the EU
When I look at the highlighted area i see a 123 sell pattern, PA went up right after this , what am I missing?


**edit: I think I just spotted the problem...the tops of the two green candles are even, if it were a valid 123 sell the 2nd green top would have closed below the first, correct?
in fact, i see a tiny 123 "buy" pattern in the highlighted area.. the kind that puts you back into the trend.. 11:20 low (1), 11:30 lower high (2), 11:35 higher low (3), 11:40 break of (2) & up
:-anything
  • #3,787
  • Apr 20, 2011 11:19am Apr 20, 2011 11:19am
now that you mention it, I see it too...(1)green hammer candle with the long tail..then the green evening star type candle(2) and then the red candle (3)

hmm, mine was off from yours ...I just gotta keep working on spotting them
  • #3,788
  • Apr 20, 2011 11:44am Apr 20, 2011 11:44am
Quoting gimmie3pips
hmm, mine was off from yours ...I just gotta keep working on spotting them
you'll get it with time.. 123s are everywhere, there are bigger 123s with counter123s inside.. the location is what matters; in consolidation like now you will spot countless isolated "like-123s" worth nothing.. in the meantime stick to clear trends and clear pullbacks.. listen to da mantra already burnt into your brains.. "find da trend........" you know
:-anything
  • #3,789
  • Apr 20, 2011 12:20pm Apr 20, 2011 12:20pm
Hi Tritom. That was a really interesting screen shot on your last chart post with the AU trade. What indicators are you using for all the info in the bottom right of the screen?

Many thanks

Noodles
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #3,790
  • Apr 20, 2011 12:23pm Apr 20, 2011 12:23pm
EY quick profit.
Attached Image (click to enlarge)
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  • #3,791
  • Apr 20, 2011 12:37pm Apr 20, 2011 12:37pm
Greetings Fellow Flag Traders,

I have just read the whole thread from start to finish! Some great information in here.

I want to get started and just wanted to confirm a few things.

1: We only trade EURUSD & EURJPY at this moment in time - Officially (Or did I miss a post) --> Anyone else having equal success with other pairs?

2: The official sessions are the US and Asian open. Although some people also do London --> How is London behaving? I gather Divergence doesn't trade London due to time constraints only?

3: I saw a note of the chat room on irc but there wasn't really anyone there this afternoon? Do I have the right place?

4: I am going to start by only trading the pullbacks, I will add 123's later. Is this the correct approach or should I jump right in with al setups?

I guess I will get ready and see you all tonight!
  • #3,792
  • Apr 20, 2011 1:08pm Apr 20, 2011 1:08pm
Quoting jimmynoodles
Hi Tritom. That was a really interesting screen shot on your last chart post with the AU trade. What indicators are you using for all the info in the bottom right of the screen?

Many thanks

Noodles
that's not an indicator, it's my ea for entry/trade management, it also finds valid setup bars (not by the rules = no trade), does the lot size calc etc.. it has nothing in common with "EA" aka auto-trading (oh no!), it's just a tool I made myself so I don't need data window terminal window or order window at all - and I actually don't use the mouse in anything order-related; everything is controlled via keyboard. It's not ready for general use yet. I will post it in the Platform Tech section in about 2-3 weeks for those who might be interested.
:-anything
  • #3,793
  • Apr 20, 2011 1:16pm Apr 20, 2011 1:16pm
I have attached a picture of two screen shots that div posted earlier in this thread that both show the same candles in EU. In one of the pictures, the s/r line is drawn in a different location than in the other picture. Can anyone explain why that swing is drawn differently? Which one is right? Thanks so much for your help.

The picture came from Post #108 and Post #160.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.JPG Size: 22 KB
  • #3,794
  • Apr 20, 2011 1:50pm Apr 20, 2011 1:50pm
Hey all.

So, I read every post, but I still don't understand "flag trading", how to spot, or even how to enter. (Yes. I read the PDF also)

Could any member who has his hand in "flag trading" please post up a checklist for things we should look out for, and also please some pictures along with them to fully grasp what we should be seeing?

I know this is a lot to ask, but it would be greatly appreciated.
  • #3,795
  • Apr 20, 2011 1:53pm Apr 20, 2011 1:53pm
Quoting tritom
that's not an indicator, it's my ea for entry/trade management, it also finds valid setup bars (not by the rules = no trade), does the lot size calc etc.. it has nothing in common with "EA" aka auto-trading (oh no!), it's just a tool I made myself so I don't need data window terminal window or order window at all - and I actually don't use the mouse in anything order-related; everything is controlled via keyboard. It's not ready for general use yet. I will post it in the Platform Tech section in about 2-3 weeks for those who might be interested....
Cool - thought it might be an ea and searched for it on the forum but couldn't find it.

Looks good for trade management and lot sizing. Good job. Also look great visually. I will keep an eye out for it in the platform tech section. Many thanks and God bless.

Noodles
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #3,796
  • Apr 20, 2011 3:00pm Apr 20, 2011 3:00pm
Quoting tas0s
Hey all.

So, I read every post, but I still don't understand "flag trading", how to spot, or even how to enter. (Yes. I read the PDF also)

Could any member who has his hand in "flag trading" please post up a checklist for things we should look out for, and also please some pictures along with them to fully grasp what we should be seeing?

I know this is a lot to ask, but it would be greatly appreciated.
I find p4 of Flag The Trend Trading.pdf a good summary of the method.
Is there something in it you find confusing ?
  • #3,797
  • Apr 20, 2011 6:42pm Apr 20, 2011 6:42pm
Quoting tas0s
Hey all.

So, I read every post, but I still don't understand "flag trading", how to spot, or even how to enter. (Yes. I read the PDF also)

Could any member who has his hand in "flag trading" please post up a checklist for things we should look out for, and also please some pictures along with them to fully grasp what we should be seeing?

I know this is a lot to ask, but it would be greatly appreciated.

Hello and my pennies worth is that having read the thread, you're blessed with the fact that RCWSO has spent a large amount of time in compiling the, 'Flag the Trend Trading Rules!' To refresh your memory, refer to post #2156, page 144. Print it out and study it avidly! Another suggestion is to read Babypips.com through. In amongst that, you'll find the, 'Divergence Cheat Sheet.' Print that also. Once printed, you've got a reference to look through. The thread instigator is, 'Divergence' and, keep in touch with following the thread where you may be fortunate when he decides to run a webinar. Don't miss it, it's gospel from the best instructor you'll ever find!

Trust this will assist you?
  • #3,798
  • Apr 20, 2011 7:31pm Apr 20, 2011 7:31pm
yawn
  • #3,799
  • Apr 20, 2011 7:38pm Apr 20, 2011 7:38pm
nothing defined no setUPS off s&r levels
  • #3,800
  • Apr 20, 2011 7:46pm Apr 20, 2011 7:46pm
Hi div, just closed a flag off s/r line on EJ for 14 pips
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