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Flag trading the trend

  • #4,461
  • May 19, 2011 3:48am May 19, 2011 3:48am
Flag trading is good for 4H and 1-Day time frame. I was down when trading 5-15 min even with 1:2 MM.
  • #4,462
  • May 19, 2011 7:43am May 19, 2011 7:43am
Quoting Mitserdof
Flag trading is good for 4H and 1-Day time frame. I was down when trading 5-15 min even with 1:2 MM.
+++++++++++++++++++++++

Would you mind posting your parameters for executing on other time frames?
Thanks,
Darryl
  • #4,463
  • May 19, 2011 8:25am May 19, 2011 8:25am
Got this flag trade about 15mins after the news US session. Good trading to all. Ray
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  • #4,464
  • May 19, 2011 8:28am May 19, 2011 8:28am
This morning I took the following trade for a winner.

White lines/arrow are what I assessed to be a flag trade. I looked at the trend as down overall. Needed to zoom out a bit to see that. It had not made a new HH from yesterday. I entered the trade based on this flag.

Yellow numbers/arrow are what I assessed also to be a 123 from the very short term up trend earlier this morning. This set-up bar came one later than the flag and would still have been a winner.

Both gave me confirmation of this trend. I got in and out relatively quickly with some positive pips.

My assessment which followed the rules for both set-ups. Now is the time to walk away from the charts and take my winnings for the day. More news in about 30 minutes. Trying to talk/type myself into NOT over trading. One good trade a day will count as a very successful system. So, now that I have reminded myself of that, time to walk away. Just walk away. Once again, just walk away after a winner.

Good Day.
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  • #4,465
  • May 19, 2011 8:31am May 19, 2011 8:31am
Quoting 1234
Got this flag trade about 15mins after the news US session. Good trading to all. Ray
Good work Ray. Same trade by me with my post and assessment. Good day to all.

To myself: "You got to know when to hold 'em, know when to fold 'em, Know when to walk away, and know when to run. You never count your money when you're sittin' at the table. There'll be time enough for countin' when the dealing's done."

Dealing is done for me today.
  • #4,466
  • May 19, 2011 8:34am May 19, 2011 8:34am
Quoting Rcwso
This morning I took the following trade for a winner.

White lines/arrow are what I assessed to be a flag trade. I looked at the trend as down overall. Needed to zoom out a bit to see that. It had not made a new HH from yesterday. I entered the trade based on this flag.

Yellow numbers/arrow are what I assessed also to be a 123 from the very short term up trend earlier this morning. This set-up bar came one later than the flag and would still have been a winner.

Both gave me confirmation of this trend. I got in and out relatively quickly with...
Looks like we took the same trade. I agree with you about over trading. Ray
  • #4,467
  • May 19, 2011 8:46am May 19, 2011 8:46am
So you guys were trading during the high news impact window of 30 min before and 15 after?
  • #4,468
  • May 19, 2011 8:53am May 19, 2011 8:53am
Quoting Tailgun
So you guys were trading during the high news impact window of 30 min before and 15 after?
My trade triggered about 12 minutes after the news release. I watched price action heavily during the time before and after but did not see anything crazy going on. So I took the trade. The times I really look to stay away are when the time before and after make the candles go all over the place. Usually HUGE candles in one direction or another. I am out during those times.

Remember, this system has rules and they are important to follow. I know that. You can be as strict as you want with the system. I attempt to be as strict as possible with the entry rules. I use a little of both the old and the new rules for that but the entry parameters are the same and are strict in my mind. I watch price action for other considerations once I see the entry parameters line up. There is some personal thought and risk that needs to be considered at all times. As I mentioned above, I watched, assessed and did not see a risk to take that trade. Price action was not out of control That was my decision to trade 3 minutes inside of the "15 minute rule."

Just my thoughts and reasoning. I would have taken that trade again.
  • #4,469
  • May 19, 2011 8:57am May 19, 2011 8:57am
Quoting Rcwso
This morning I took the following trade for a winner.

White lines/arrow are what I assessed to be a flag trade. I looked at the trend as down overall. Needed to zoom out a bit to see that. It had not made a new HH from yesterday. I entered the trade based on this flag.

Yellow numbers/arrow are what I assessed also to be a 123 from the very short term up trend earlier this morning. This set-up bar came one later than the flag and would still have been a winner.

Both gave me confirmation of this trend. I got in and out relatively quickly with...
++++++++++++++++++++++

Sounds like a good mantra to me.

Did not take this trade but just took the EU long on a return to trend. It started up nicely, balked around 1.4256, kept making lower 5 min candles for nearly 20 minutes, then started to look bearish. I pulled the plug @ break even + less than 1 to avoid a loss. Shortly there after it shot up and would have hit my target.

I'll have to ponder my decision here. Anyone else stick with it?
  • #4,470
  • May 19, 2011 9:00am May 19, 2011 9:00am
Quoting diamonddbw
++++++++++++++++++++++

Sounds like a good mantra to me.

Did not take this trade but just took the EU long on a return to trend. It started up nicely, balked around 1.4256, kept making lower 5 min candles for nearly 20 minutes, then started to look bearish. I pulled the plug @ break even + less than 1 to avoid a loss. Shortly there after it shot up and would have hit my target.

I'll have to ponder my decision here. Anyone else stick with it?
So what got you in on the return to trend? Did you see the entire down move as a large flag? or what made you take that trade at the bottom?

Thanks for the info.
  • #4,471
  • May 19, 2011 9:19am May 19, 2011 9:19am
Quoting Rcwso
So what got you in on the return to trend? Did you see the entire down move as a large flag? or what made you take that trade at the bottom?

Thanks for the info.
++++++++++++++++++++++++++++

There's an ascending trendline beginning on 5/16 which did have some influence on my decision to go with the trade. The main factor was based on the price action during the London session today. If you check price, there was a major HH & HL. The HL almost connected with the trend line from 5/16. The GU had already taken off which also added to my evaluation. I did take the trade on 2 platforms. The other platform I closed out for 8 pips. When I'm managing trades with more than one broker, sometimes I will bail on one so my attention is not as divided.
  • #4,472
  • May 19, 2011 9:23am May 19, 2011 9:23am
Quoting diamonddbw
++++++++++++++++++++++++++++

There's an ascending trendline beginning on 5/16 which did have some influence on my decision to go with the trade. The main factor was based on the price action during the London session today. If you check price, there was a major HH & HL. The HL almost connected with the trend line from 5/16. The GU had already taken off which also added to my evaluation. I did take the trade on 2 platforms. The other platform I closed out for 8 pips. When I'm managing trades with more than one broker, sometimes I will bail on...
Copy that. Makes sense. Thanks.
  • #4,473
  • May 19, 2011 9:17pm May 19, 2011 9:17pm
I was wondering what everyone’s experience with Friday trading has been? Do you avoid trading on Fridays or if a trade presents itself do you still take it?
  • #4,474
  • May 20, 2011 2:44am May 20, 2011 2:44am
Hi diamond, rc, and all flaggers! The entry+management EA seems to be ready for release. I have tested it extensively on demo accounts (IBFX, FXDD, Oanda, FinFx, MBT) and live accounts (ATC, Roboforex) on 4 pairs. I just need to make a PDF and I hope to post it in platform tech thread this Sunday. I will post a link to it here.

Good trading to all, take care ;-)
:-anything
  • #4,475
  • May 20, 2011 2:52am May 20, 2011 2:52am
Quoting tritom
Hi diamond, rc, and all flaggers! The entry+management EA seems to be ready for release. I have tested it extensively on demo accounts (IBFX, FXDD, Oanda, FinFx, MBT) and live accounts (ATC, Roboforex) on 4 pairs. I just need to make a PDF and I hope to post it in platform tech thread this Sunday. I will post a link to it here.

Good trading to all, take care ;-)
i`ll be waiting

thanks
  • #4,476
  • May 20, 2011 3:24am May 20, 2011 3:24am
Count me also!
  • #4,477
  • May 20, 2011 4:35am May 20, 2011 4:35am
Quoting tritom
Hi diamond, rc, and all flaggers! The entry+management EA seems to be ready for release. I have tested it extensively on demo accounts (IBFX, FXDD, Oanda, FinFx, MBT) and live accounts (ATC, Roboforex) on 4 pairs. I just need to make a PDF and I hope to post it in platform tech thread this Sunday. I will post a link to it here.

Good trading to all, take care ;-)
Will you be posting it here too?
  • #4,478
  • May 20, 2011 5:39am May 20, 2011 5:39am
Ok, this comes from someone who has been trading this successfully for a few weeks now, but i have been hit a few times now by trades failing, that i'm certain worked fine a couple of weeks ago and i also can't really explain as to why the failure. I welcome all views, but am expecting the main answer to be just the time of day for the trade (both around 12:00/13:00 GMT)
If so, i will happily leave the computer in future after say 10:00am...

There really isn't any divergence to cause the problem, it may look like it at first, but when you line up the candles, the peaks are from a lower start going left to right, hence not actual divergence vs PA...

I think most stuff from the following chart is self explanatory. The CCI went above +50 for both SUB and trigger, the price went about 1.5 pips higher (sub to trigger) and then retraced instantly despite not being that far from the SMA. The SUB touches the SMA. This should have been a 'dead cert!'

Opinions?!


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  • #4,479
  • May 20, 2011 5:47am May 20, 2011 5:47am
Quoting castlebrook
Will you be posting it here too?
Yes but I will make a separate thread for it. If some people decide to use it, there will be questions, suggestions, fixes, updates etc. I don't want to clutter this thread with tech stuff, it's a wonder it stayed so clean of garbage after 300 pages, wow! I think many contributors, including Divergence himself, are purists who would never use an EA. But this EA won't trade for you. It's just a tool. I have made it for myself because I hate juggling with the mouse clicking the fields in order window, clicking in terminal window if I want to close a trade, calculating positions in excel within seconds etc.

If there's a valid setup bar developing, it waits for your input. If you press a key within last minute of that bar, you schedule an order. The bar will be re-checked after close and if everything is ok, a pending order is sent immediately (if your br0ker allows stop orders to be placed close enough to price) OR the pending entry is done via market order (works with any br0ker). Trigger processes as per rules (1st bar after SUB triggers or a 2nd shot is allowed if 1st bar still meets SUB req's). If triggered then it switches to manage mode, sets BE automatically etc but you can set BE, close the trade, even move stop and target anytime. You don't need to see MT4 order window or terminal window at all. I trade 4 pairs with it; I have one monitor so I hide borders and captions of chart windows to save space, I can always double-click the chart tab to max a pair chart to make my analysis then double-click it back. Active chart is highlighted (different background color) as i click on it. Keyboard commands are received by the active chart. Sometimes (rarely) there are worthwhile setups on more than one pair at a time and it is matter of seconds to manage entries with it; you act before the bar actually closes but still play 100% by the rules.

The EA doesn't care about divergences, 123s, trend etc. It's not a trader, auto-trading this method is NOT possible.
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:-anything
  • #4,480
  • May 20, 2011 6:12am May 20, 2011 6:12am
...a quick in and out (EU short).
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