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Flag trading the trend

Quoting MeLe
Hi Cableguy
While you are waiting on a reply from our illustrious leader, go back to page 20 post 701, this may answer your inquiry.
Regards
Barry


Thanks Barry, seems i was right, all candles (obviously the trigger), the second (even if not confirming) and the third (which must confirm by beating the trigger by one pip) must all remain above (long) or below (short) CCi +50/-50... in this case it didn't (the second candle retraced back above -50 into channel), but the trade was still good... i think the flagline was so good it could override it in this instance.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
I am in this trade now, trigger bar is the one with a red line through it. Does this look OK?
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Quoting Ultimatus
I am in this trade now, trigger bar is the one with a red line through it. Does this look OK?
No, CCI was below +50.

Cheers,
Olarion
Quoting Olarion1975
No, CCI was below +50.

Cheers,
Olarion
Thanks. I thought I saw it above +50. I must have looked before the bar closed.
Just to clear a couple of points, there are two candles to make a trade,
First candle is the set up candle, this must meet the requirements, close above MA and CCi greater than 50, You do not enter the trade on this candle
Second candle is trigger candle, enter trade 1pip above the high of setup candle (Long)
There seems to be a few entering on the setup candle

Hope this helps a bit
Quoting Ultimatus
Thanks. I thought I saw it above +50. I must have looked before the bar closed.
If you replace your CCI indicator with the indicator on this earlier post and wait for the CLOSED candle to change colour it makes spotting setup bars (sub) a lot easier

http://www.forexfactory.com/showpost...postcount=3242
Quoting MeLe
Just to clear a couple of points, there are two candles to make a trade,
First candle is the set up candle, this must meet the requirements, close above MA and CCi greater than 50, You do not enter the trade on this candle
Second candle is trigger candle, enter trade 1pip above the high of setup candle (Long)
There seems to be a few entering on the setup candle

Hope this helps a bit
I think the issue is many times when there is (e.g. in uptrend) a pullback w/momentum (a V-shaped move) then cci is <50 or even negative on a strong bullish bar then jumps to >50 or even >100 on NEXT bar right after it opens.. and that seduces to jump the gun and enter. But the rules are clear: the cci reqiurement applies to closed candle, and if and only if that fits, it's a valid setup bar.
:-anything
thanks for the reminder Mele, trust me my entry on the wrong bar was not intentional. I rushed to get in on what i thought was the right entry and i glanced down to check the cci and IDK what i was looking at but it must have been a different cci bar that was +50.

It also didnt help matters that the London session had just started and I was looking for a price jump and possibly a breakout.

noob mistake and rushing is a bad combination, I just lucked out and made a few pips on the breakout.

Also, I just added this CCI histogram tonight and I'm not exactly sure I have the settings right. The one I have is for the FXCM Marketscope platform since I dont have Metatrader. It's called Woodie CCI and it has settings for the fast and slow CCI, I have them both set to 8 but should they be set to different intervals?
Hi Gimmie
Don't know that indicator, can't help there, it may well be a problem.
enjoy the chicken dinner
Quoting billm
If you replace your CCI indicator with the indicator on this earlier post and wait for the CLOSED candle to change colour it makes spotting setup bars (sub) a lot easier

http://www.forexfactory.com/showpost...postcount=3242
Thanks a lot, this really makes it easier to spot.
lol, thanks ..as far as the CCi indicator, I tried to use the one in the thread but I cant seem to get eq4 files to work in marketscope, i guess thats a metatrader thing

I went back on my chart and looked at that CCI for the bar i was using as the setup bar and it's blank, it must have been totally zero because theres no positive or negative indication on it at all.

well another day of learning what NOT to do. I'm feeling really stupid right about now can you tell? lol , I keep this crap up and I'm going to end up a statistic in my own signature
Quoting gimmie3pips
The one I have is for the FXCM Marketscope platform since I dont have Metatrader.
Why not look for setups on a free metatrader demo chart, download link here:

https://www.fxpro.com/downloads/plat...lient-terminal

you can still place your trades on whatever platform you want, then you're using the same charts and indicators as the rest of us
Hey we all make mistakes, yes even Mr, Div, they are all part of learning and this method of trading is really worth the effort, dont't give up.

" I'd rather have a bottle in front of me than frontal lobotomy"
Bill thanks for that link, I'm going to check it out.
Mele, I dont give up easily, I just get pissed at myself for making mistakes even if they do turn out ok.

time for me to get to bed for a few hours. Thanks for the help , good night and good trading
Quoting gimmie3pips
I just get pissed at myself for making mistakes even if they do turn out ok.
hey that's GREAT attitude few have inherit. Stick to it and you'll do fine eventually.
:-anything
poss short here
Quoting d4n
poss short here
target hit..... almost exactly the same as yesterdays trade!

thats me done for the day
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Quoting d4n
target hit..... almost exactly the same as yesterdays trade!

thats me done for the day
perfect one congrats
:-anything
For anyone still needing faith in this system take a look at my trades over the last 3 weeks, there has been 1 maybe 2 losers and the majority i called before or as the trade happened.

You have proof there that all you need to do is follow the rules and practice this method and you will become profitable.

Unfortunately i wont be able to post the trades anymore as off to do my summer job but will still pop in when i can. Hope i have helped some of you to see the light.
Happy Trading!
Hey thanks for everything d4n, enjoy your summer job
Regards
Barry
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