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Flag trading the trend

To those who observe the holiday, Happy Easter! Remember, it's Bank Holiday all over the world, spend time with your loved ones and relax guys.
hi, guys.

very nice thread.

are you using any kind of script to put the pending orders? or are you putting them manually

thx a lot.
Morning guys,

well after a rough start I think I finally got the hang of this and things have been going much better. I forced myself to stop rushing when i think I have a setup and I go over the rules one by one to confirm everything before I enter a trade.

I have a spreadsheet for my daily profit target (thanks Shr1k) which right now is 2%, I'm going to compound my gains each week and keep my risk at 2% per trade based on account equity, so the higher my balance the more my risk but always maintaining 2% risk.

I started tracking my progress with my micro account last week. I only have a few days in on that so far but I'm just about on target for the week. I started with (dont laugh) $150 in my account and i'm currently sitting at $157.11 after 3 days.

I just wanted to thank everyone, especially Divergence for all of his work in helping us learn this system. I'll keep watching the thread and update my progress every once in awhile.
I'm not laughing........
Quoting gimmie3pips
Morning guys,

well after a rough start I think I finally got the hang of this and things have been going much better. I forced myself to stop rushing when i think I have a setup and I go over the rules one by one to confirm everything before I enter a trade.

I have a spreadsheet for my daily profit target (thanks Shr1k) which right now is 2%, I'm going to compound my gains each week and keep my risk at 2% per trade based on account equity, so the higher my balance the more my risk but always maintaining 2% risk.

I started tracking my progress...
Quoting gimmie3pips
Morning guys,

well after a rough start I think I finally got the hang of this and things have been going much better. I forced myself to stop rushing when i think I have a setup and I go over the rules one by one to confirm everything before I enter a trade.

I have a spreadsheet for my daily profit target (thanks Shr1k) which right now is 2%, I'm going to compound my gains each week and keep my risk at 2% per trade based on account equity, so the higher my balance the more my risk but always maintaining 2% risk.

I started tracking my...
Nothing to laugh about there! They are excellent returns, if you can do that consistently you will easily be clearing 20% per month which is great!

Now I just want to join you :-)

So would you say that the most important thing is sticking to the rules?

Do you trade divergence as well?
Don't know if I'm just pointing out the obvious but have you guys noticed that the flag trend trade is a 123 trend continuation trade?
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becareful today all banks closed except us very strange movements dont know if i will attempt anything today
Thank You Mr. Div.
Quoting Divergence
becareful today all banks closed except us very strange movements dont know if i will attempt anything today
Quoting PipRiderFX
Nothing to laugh about there! They are excellent returns, if you can do that consistently you will easily be clearing 20% per month which is great!

Now I just want to join you :-)

So would you say that the most important thing is sticking to the rules?

Do you trade divergence as well?
yes by all means stick to the rules that divergence has laid out. If you rush and bypass one your whole trade can be invalid and you'll end up on the losing side most of the time.

Hopefully I can keep these gains going, at least by following the system I have stacked the odds in my favor as much as possible.

I dont trade divergence or 123's right now..i need a lot more practice with that however, I am getting better at spotting them, just not enough to the point that i'm confident in trading them.
Hi Divergence,

Greate system you have there :-)

Is this how should setup be for short?
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Quoting alex82
Hi Divergence,

Greate system you have there :-)

Is this how should setup be for short?
I don't think so, there is no short setup bar in your picture. I think you should read the rules again.
Search the pdf file created by rcwso in this thread.
Good luck
Quoting patuan84
I don't think so, there is no short setup bar in your picture. I think you should read the rules again.
Search the pdf file created by rcwso in this thread.
Good luck
Thanks bro ;-)
Hi Everyone,

I am just looking at the charts preparing for tonight and wanted to confirm a few things. Please note I am only using multiple pairs to assist me in learning the patterns I only plan on trading the EURUSD.


EURUSD is still in Long mode although it is coming to a previous level of resistance which became support and may now act as resistance again. So If I get a short signal from here would it be valid? Or would I be waiting for the major trend to reassert itself?

AUDUSD seems to have broken my most recent HL which now puts me in short mode, although it did bounce off of the second to last major HL so would I still be in Long mode because of this or would I be ok to take short setups if price bounces off the previous support which is now looking like resistance?

GBPUSD is not in a downtrend since the support ledge price was sat on all of thursday and friday has now been broken is that reading correct?

EURJPY is moving down but the trend is a little unclear.

I look forward to you comments.
zoom out and get some s/r lines on ur chart, this will help paint whether the setups are nice looking or not. turning a resis line into support would make for a good long, turning a support line into resis would make for a nice short. patience is the only thing developing on these charts--always remeber #1--find the trend......and only take counter-trend when have a 123(preferably with div)
Quoting diamonddbw
Hi Flag Traders. Still on the road. Enjoying every minute.

Just stopped for coffee and free wi-fi so thought I would take this time to wish everyone a wonderful day. Happy Easter to those of you that observe this holiday.

Tolerance, used out of respect for others, is always a good thing. This thread is a great model of how we all work together for the mutual benefit of the group. A perfect case for "Lead by Example".

Good Hunting All!
+++++++++++++++++++++++++++++
"With a pure heart, The path is Clear" ~ DW

Thanks for the great wishes diamonddbw, i wish all traders here in this thread many happy pips to come. I'm just starting to get the hang of it, and i think i can become profitable for the first time on the Fx market lol. Happy Easter once more to everyone
Here was a set-up for today but the RSI was a slightly over extended.
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Hi,

Is anyone trading the Asian session?

Is the chat room going to be open? How do I access it?

Thanks
http://chat.efnet.org:9090/

enter a nickname and put #flagtrading as the channel
not sure if there are people there during asian, usually quite a few during ny session
Just missed the EURJPY. Was that a valid short?
Trend looked down to me... pull back was to a previous support which had become resistance... and there was divergence as well to indicate the pull back was weakening...

I think I should have taken that... but it was 11:55 would that have made a difference?
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