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Flag trading the trend

  • #4,401
  • May 16, 2011 8:22pm May 16, 2011 8:22pm
as soon as one happens
  • #4,402
  • May 16, 2011 8:29pm May 16, 2011 8:29pm
This is the most predictable and successful system I've ever used. I'm getting very confident with the signals. Making money......Yes, I do have losing trades, but my win to lose ratio is very good....THANKS DIV. for your selflessness........ and thanks to all of you who have contributed to this thread... .........Let's see, new Benz or new Lexus....alas.... decisions decisions........................Hark, I hear fair maidens in yonder glen!!!!
  • #4,403
  • May 16, 2011 8:29pm May 16, 2011 8:29pm
Hi Div. How do you manage your trades in terms of setting break even, do you set multiple positions?
  • #4,404
  • May 16, 2011 9:02pm May 16, 2011 9:02pm
How do you make a comment or ask a question in the trade room??????
  • #4,405
  • May 16, 2011 10:45pm May 16, 2011 10:45pm
Just use your mouse and click on the bottom line of the screen in the trading room. A cursor should come up and flash - and allow you to write in the room.
Enter Signature
  • #4,406
  • May 17, 2011 1:16am May 17, 2011 1:16am
Quoting thefallguy
I have been following this thread/system from day one and have had great success with this system. Once again thanks to Mr. Div. for all the great work and effort.
I was wondering how everyone manages the trades in terms of using the breakeven marks. Do you enter in multiple positions and exit one position once the first BE mark is reached?
With this system I use one position for the full amount. For example 1% or what ever % of my account but it is always the same % for the month for each trade. At the end of the month I review the % in light of winning trades. I do not scale in or out with this system. Div talks about this as part of his money management in a number of webinars.

All the best with your trading. Ray
  • #4,407
  • May 17, 2011 1:54am May 17, 2011 1:54am
[quote=diamonddbw;4622354]++++++++++++++
I have a request. Once or twice each week, I'd like to see you post a "Perfect" trade that you took.

a good idea
making money in JimB2468 trading room
  • #4,408
  • May 17, 2011 7:13am May 17, 2011 7:13am
Hi,

I was wondering if someone could critique the trade I took below. The reason is over the past week I have taken quite a few losses and every trade I enter seems to go against me almost immediately.

The trade was at 11:45 UK time with the SUB at 11:40.

Is there a way this loss could have been avoided?

Also would the subsequent short have been valid? Or would I need more of a trend than that?

Thanks

Pip
Attached Image (click to enlarge)
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  • #4,409
  • Edited 7:58am May 17, 2011 7:27am | Edited 7:58am
Hi PipRiderFX

don't know if this is helpful or not but anyway

I am assuming the trade was long...

After such a long extended pullback that does not switch the trend to short, so longs are still valid, I then look for 123's to get back into the long direction.

ie. although there was a setup up bar, all of the pullback candles were below the SMA, in such cases i then look not for a pullback but a 123

For me, the trend change line was a few pips above what looks to be your bid line, at the last HL prior to the HH

Regards
John


Quoting PipRiderFX
Hi,

I was wondering if someone could critique the trade I took below. The reason is over the past week I have taken quite a few losses and every trade I enter seems to go against me almost immediately.

The trade was at 11:45 UK time with the SUB at 11:40.

Is there a way this loss could have been avoided?

Also would the subsequent short have been valid? Or would I need more of a trend than that?

Thanks

Pip
  • #4,410
  • May 17, 2011 8:05am May 17, 2011 8:05am
Thanks, 1234.
What I was referring to is when Div speaks about moving the stop to break-even so that even if the price does not reach the total target you can still get out of the trade by leaving some money on the table.
I have attached a screen shot of Div’s webinars showing this strategy.
Attached Image (click to enlarge)
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  • #4,411
  • May 17, 2011 8:28am May 17, 2011 8:28am
Quoting PipRiderFX
Hi,

I was wondering if someone could critique the trade I took below. The reason is over the past week I have taken quite a few losses and every trade I enter seems to go against me almost immediately.

The trade was at 11:45 UK time with the SUB at 11:40.

Is there a way this loss could have been avoided?

Also would the subsequent short have been valid? Or would I need more of a trend than that?

Thanks

Pip
++++++++++++++++++++++++++

Hey PR. Check your time of the session. It seems like this is late. This factor would be a deal breaker for me.
Other than that, the 123 looks to be setting up favorably coming off of support from a previous hi and low. Add to that, favorable gbp news and it all looks good. I guess all I can say here is, "Beware of false prophets". GBP news is a very illusive indicator. What I've noticed is that when gbp news is opposite of what's projected, it usually will be quite effective in moving the pound in the logical direction. In the the case where news is in compliance (same direction) with the forecast, then you should ignore it and wait for the dust to settle.
Darryl
  • #4,412
  • May 17, 2011 9:56am May 17, 2011 9:56am
Quoting Divergence
Everyone please read post 4394 Wow!!! Traderinsd this is both insirational and sad at the same time what has happened to you. Let me share some history about trading, the markets change from time to time and what is meant by that is they contract and expand (exceed daily ranges by a lot). We never know in advance when this is going to happen so when it does the method needs to adjust to it. Sometimes even the adjustments dont yield signal setups because they happen when you are not at the computer so whats a trader to do? Well this is what i do...

Thanks for the kind words Div, your insight most appreciated.
  • #4,413
  • May 17, 2011 10:06am May 17, 2011 10:06am
Quoting jmw1970
Hi PipRiderFX

don't know if this is helpful or not but anyway

I am assuming the trade was long...

After such a long extended pullback that does not switch the trend to short, so longs are still valid, I then look for 123's to get back into the long direction.

ie. although there was a setup up bar, all of the pullback candles were below the SMA, in such cases i then look not for a pullback but a 123

For me, the trend change line was a few pips above what looks to be your bid line, at the last HL prior to the HH

Regards
John
A solid nugget of infomation here jmw1970.. Regarding post # 4410

After such a long extended pullback that does not switch the trend to short, so longs are still valid, I then look for 123's to get back into the long direction.

ie. although there was a setup up bar, all of the pullback candles were below the SMA, in such cases i then look not for a pullback but a 123


Thanks for sharing
  • #4,414
  • May 17, 2011 10:49am May 17, 2011 10:49am
Quoting TraderinSD
Thanks for the kind words Div, your insight most appreciated.
++++++++++++++++++++++

Thanks SD. Kind Words go along way toward "Effective" communication.

If someone has a dissenting opinion, please voice your opposition. After all, following blindly is a recipe for disaster or disappointment. However, imho, to just state that something is stupid without valid support for your statement, is no different than getting involved in an emotional shouting match. That sets up the potential for a situation exactly like war. There are no Winners, only "Collateral Damage".
  • #4,415
  • May 17, 2011 11:39am May 17, 2011 11:39am
EURUSD

quick picture to explain my ramblings earlier about 123's to get back in the trend.

for me the trend was down, but there had been a long countertrend move long, so was now looking for a 123 to get me back into the trend down

p.s. for those strictly following divergence's rules this was NOT a valid trade as the SUB was not within 2.4 pips of point 2 - please forgive me, it just seemed appropriate to better explain my earlier ramblings

Arrow marks SUB (which was also point 3)
Attached Image (click to enlarge)
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  • #4,416
  • May 17, 2011 7:15pm May 17, 2011 7:15pm
Just finished two 1,2,3 countertrend trades with Eur +10 and EurJpy +12. anybody else trade these?
  • #4,417
  • May 17, 2011 7:18pm May 17, 2011 7:18pm
Quoting Bernsie
Just finished two 1,2,3 countertrend trades with Eur +10 and EurJpy +12. anybody else trade these?
++++++++++++++++++++++++

I did the EJ, but it was not a flag trade. Strictly classic 123.
  • #4,418
  • May 17, 2011 7:25pm May 17, 2011 7:25pm
Glad someone else took it as well. I am seeing 1,2,3 and flags in my sleep instead of sheep.
  • #4,419
  • May 17, 2011 7:30pm May 17, 2011 7:30pm
Quoting Bernsie
Glad someone else took it as well. I am seeing 1,2,3 and flags in my sleep instead of sheep.
++++++++++++++++++++++++++

The EJ almost always gives up something during the A/S open. It usually will make the pips it's supposed to and then some.

I'm going to watch for one more move up.
  • #4,420
  • May 18, 2011 6:31am May 18, 2011 6:31am
firstly divergence thank for a great system, i still have some problems recognizing a good set-up but i am getting there.
i have followed this system for about 3 weeks, at that time i started a demo account with $200. Now 3 weeks on the demo account is at $15,779

ok i must confess that i have a bad habit and that is i don't like to lose, so what i do is when it goes against me by 15 pips i place an other order and so on. the most i have placed is 4 orders. At times it does get a bit scary.

Before i get loads of replies i know it is not good and i must retrain myself to take the losses and make the best of the wins. And to trade only one lot but my emotions get in the way lol.

That's why i would like to place an order and forget it using a semi ea.

what i mean by that is an ea that recognizes the 123 setup and the flag trades, places the right trigger 1 pips and a sl 1 pip above/below the trigger bar once the trigger bar closes. this ea should have a one time trigger so we can reset it when we feel a set-up is developing. the ea should also automatically place a sl on the set up bar 1 pip below/above the set-up bar.and that pip amount should be the tp as well, so it adjusts according to the set-up bar.

but i need to start it manually when i see a potential set-up

this will allow us to place more set-ups with the ea on more pairs with out going nuts trying to place the orders yourself.

just my humble 2 cents worth

JTH
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