Flag trading the trend | Page 231 | Forex Factory

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Flag trading the trend

  • #4,601
  • Jun 8, 2011 8:14am Jun 8, 2011 8:14am
Hello everyone, i just finished reading this whole thread. Took me a few days but made it to the end. This system is absolutely amazing, thank you Mr Div for sharing this system as well as your knowledge, time and dedication, along with everyone else for providing your insight as well. I am brand new to Forex, as of three weeks ago and i was able to pick up on this method very easy. Using Mr Div's tricks of the trade as well as indicators provided, I have 2 profitable trades and 2 that would have been profitable if i could have figured out how to operate my trading station. I know i still have a lot to learn and do not anticipate going live anytime soon as i plan to continue to hone my skills and get a clearer picture of the market and how it operates, not to mention operating my trading station. Thanks for everything.
Damn The Torpedoes, Full Speed Ahead!
  • #4,602
  • Jun 8, 2011 9:26am Jun 8, 2011 9:26am
welcome back Div, I hope your personal situations are working out to your families benefit.
  • #4,603
  • Jun 8, 2011 10:58am Jun 8, 2011 10:58am
As far as, not trading 30 minutes prior and 15 minutes after news has came out, are yall refering to regular news or news pertaining strictly to investments. If it is regular news, are we talking eastern times? Also if it is investment type news, what tv stations are we talking?
Damn The Torpedoes, Full Speed Ahead!
  • #4,604
  • Jun 8, 2011 11:35am Jun 8, 2011 11:35am
Quoting DizzleFX
As far as, not trading 30 minutes prior and 15 minutes after news has came out, are yall refering to regular news or news pertaining strictly to investments. If it is regular news, are we talking eastern times? Also if it is investment type news, what tv stations are we talking?
the red news in FF calendar ('High Impact Expected')

http://www.forexfactory.com/calendar.php
  • #4,605
  • Jun 8, 2011 4:59pm Jun 8, 2011 4:59pm
I'm just starting out and Ive been using a demo on meta trader. What are the "red flags" signals?? what triggers them?
  • #4,606
  • Jun 9, 2011 12:33am Jun 9, 2011 12:33am
I do not know guys where this system is good...
The matter is that a flag can be interpreted individually.
You can see that there are several flags in the first post which had not been indicated, and their breakouts were false and brought loss.
  • #4,607
  • Jun 9, 2011 1:07am Jun 9, 2011 1:07am
Quoting slovforex
I do not know guys where this system is good...
The matter is that a flag can be interpreted individually.
You can see that there are several flags in the first post which had not been indicated, and their breakouts were false and brought loss.
That's the trouble with trading flags on the 5m time frame. You get too many signals. Personally 4h and daily is much better and less stress
  • #4,608
  • Jun 9, 2011 1:52am Jun 9, 2011 1:52am
Quoting slovforex
You can see that there are several flags in the first post which had not been indicated, and their breakouts were false and brought loss.
not every flag results in a trade because there are some entry rules in this system (sub, cci, 2.4 pip rule etc.), did you consider this?
  • #4,609
  • Jun 9, 2011 2:10am Jun 9, 2011 2:10am
GBP/USD long, has some room so I took it.
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  • #4,610
  • Jun 9, 2011 3:47am Jun 9, 2011 3:47am
EUR/USD long, stopped out -10 pips
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  • #4,611
  • Jun 9, 2011 4:57am Jun 9, 2011 4:57am
Quoting batata
EUR/USD long, stopped out -10 pips
Has anyone taken a short after this 123?
Attached Image
  • #4,612
  • Jun 9, 2011 6:09am Jun 9, 2011 6:09am
Quoting marian
Has anyone taken a short after this 123?
No, but it is very good setup without any doubts

123 , divergence and strong resistence
  • #4,613
  • Jun 9, 2011 9:00am Jun 9, 2011 9:00am
Hello all,
I was just wondering, after a news day like today especially after the moves the market has already made. Would you take a trade if a set up that followed all the rules presented itself?
  • #4,614
  • Jun 9, 2011 9:39am Jun 9, 2011 9:39am
I guess I have answered my own question. I took this trade for a loss a few minutes after my last post!

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  • #4,615
  • Jun 9, 2011 9:46am Jun 9, 2011 9:46am
I stayed away from EU there, along with GU and swissy, as price was nearing the outer 2-period Daily MA - which is an area of traditionally strong S/R. Also, there were several divergence signals occuring a that time on those pairs. Also the SUB candles in question were very small, less than 10 pips. I stay away from those.

I did take AU Long a few minutes ago but am leery of it and watching closely.
  • #4,616
  • Jun 9, 2011 5:18pm Jun 9, 2011 5:18pm
So how did the rise of our dollar index, adversely affect trades made with USD?
Damn The Torpedoes, Full Speed Ahead!
  • #4,617
  • Jun 9, 2011 6:02pm Jun 9, 2011 6:02pm
Disregard my last question, It all makes since now! Exchange rate is different.

I guess that was the newbie side of me talking.
Damn The Torpedoes, Full Speed Ahead!
  • #4,618
  • Jun 10, 2011 12:55am Jun 10, 2011 12:55am
So, now downward pressure persists on the market. Eyeing 1.6285...in case of its successful break I would expect a drop to 1.6050
  • #4,619
  • Jun 10, 2011 9:19am Jun 10, 2011 9:19am
Quoting willf
That's the trouble with trading flags on the 5m time frame. You get too many signals. Personally 4h and daily is much better and less stress
Willf,

I agree with you about trading this on longer time frames. Far less noise and intereference from day to day news. Besides I don't have the time to day trade Perhaps we could discuss it outside this thread. PM me if you're interested.

Richard
  • #4,620
  • Jun 10, 2011 2:08pm Jun 10, 2011 2:08pm
Quoting Richard7
Willf,

I agree with you about trading this on longer time frames. Far less noise and intereference from day to day news. Besides I don't have the time to day trade Perhaps we could discuss it outside this thread. PM me if you're interested.

Richard
Not much to discuss really. It's quite easy once you know what to look for. Here's a trade I took today on EURUSD 4H.

This week has been slower. Market seems a bit jumpy but up 173 pips for the week so pretty good considering I couldn't trade for two days because of other commitments.
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