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Flag trading the trend

  • #4,961
  • Jul 22, 2011 9:45am Jul 22, 2011 9:45am
One good set up, for me today, 52 minutes after Frankfurt open.

• Was 8.4 pips in profit before price came down keeping in trade without going to BE

• Very close to stop out after that. 1.1 pips from 15 pip loss*.

* Prozac required for this trade..
Attached Image (click to enlarge)
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  • #4,962
  • Jul 22, 2011 10:06am Jul 22, 2011 10:06am
hey fourx i had a 4 minute non trade lol bye bye
  • #4,963
  • Jul 22, 2011 10:32am Jul 22, 2011 10:32am
I need to have my head examined for trying to trade 2 iffy set-ups today....Now I can't afford it....I love trading this method,,,,the rules are simple, I''m a simple guy...Good fit.....my problems are somewhere between my mouse and my chair....I think I have that part of it figured out....Maybe I.ll try reversing my SL & TP numbers on days like today and yesterday...
Hope Y'all have a nice week end.......Don
  • #4,964
  • Jul 22, 2011 11:02am Jul 22, 2011 11:02am
Quoting degil
I need to have my head examined for trying to trade 2 iffy set-ups today....Now I can't afford it....I love trading this method,,,,the rules are simple, I''m a simple guy...Good fit.....my problems are somewhere between my mouse and my chair....I think I have that part of it figured out....Maybe I.ll try reversing my SL & TP numbers on days like today and yesterday...
Hope Y'all have a nice week end.......Don
+++++++++++++++

Hey Don. In this personal dilemma of yours, lies the reason most traders never become profitable, discipline!

In post 4916 I attempt to note what's required for successful trades. Put them in order, and go through a checklist prior to confirming a set up. Take only trades that meet this (or your personal) criteria.

Film at 11:00 (10:00 Central)
  • #4,965
  • Jul 22, 2011 11:19am Jul 22, 2011 11:19am
Thanks, Darryl for the critique on that one.....I can see it too,... now...Gotta go back and watch all videos for reasons to stay out..again....Thanks for your efforts....I usually catch most the winners, but can't seem to get much past BE for the week because of taking about the same number of bad ones ....two today. Thanks, again
  • #4,966
  • Jul 22, 2011 11:38am Jul 22, 2011 11:38am
I,m following the checklist pretty well ....your videos were a big help.. but apparently I,m missing some S/R nuances that are more important than I was giving them credit for...Div's videos were great on entrys... I,ve got that,,,just needing more help with reasons to stay out when all the obvious rule criteria is met....going to re-watch every video over the weekend...that has got to help...
Thanks
  • #4,967
  • Jul 22, 2011 3:02pm Jul 22, 2011 3:02pm
Quoting degil
I,m following the checklist pretty well ....your videos were a big help.. but apparently I,m missing some S/R nuances that are more important than I was giving them credit for...Div's videos were great on entrys... I,ve got that,,,just needing more help with reasons to stay out when all the obvious rule criteria is met....going to re-watch every video over the weekend...that has got to help...
Thanks
+++++++++++++++++

When I lose a trade (I know it's hard to believe but It does still happen) I go back and uber analyze it to see what could have gone wrong. That's what gave me the idea to make the last 2 videos. I looked at each potential set up, in the direction of the trend, and applied the rules from start to finish. The ones I did not take ALL missed on at least one of the rules.

I just had a loser during today's London session.
• I took the 2nd set up after trend direction resumed
• The CCI was over 50
• Next candle triggered
• 15 pip stop was way below last swing
• No local significant s/r in my way

I decided that this one failed for these reasons:
1. Flag was weak. Not even 8 pips
2. Flag did not look like a good flag and was only 6 candles

Really those are the only reasons I can see. My observation is that retrace of 10-20 pips is ideal. Also a pretty Flag (Christie Brinkley) is very encouraging.

Other than that, I guess we just have to "Suck it up" once in a while and go all "Human"!
  • #4,968
  • Jul 24, 2011 4:36am Jul 24, 2011 4:36am
http://savepic.ru/2866737m.gif

Кто нибудь торговал эту сделку в пятницу ?!
У меня не было возможности находиться у компьютера в этот день, но такой сигнал грех пропустить.

Happy Trading
  • #4,969
  • Jul 24, 2011 3:02pm Jul 24, 2011 3:02pm
Quoting Daytrader_UA
http://savepic.ru/2866737m.gif

Кто нибудь торговал эту сделку в пятницу ?!
У меня не было возможности находиться...
++++++++++++++++++++++++++++++++
Good call.
  • #4,970
  • Jul 25, 2011 2:06am Jul 25, 2011 2:06am
http://savepic.ru/2934202m.gif

workout on Monday. we're still up. CCI 14 and turbo CCI 8 give pattern a slingshot with 123, a good setup. important not to be greedy and be patient.

Happy Trading
  • #4,971
  • Jul 25, 2011 4:22am Jul 25, 2011 4:22am
(sub at 03:58)
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  • #4,972
  • Jul 25, 2011 7:05am Jul 25, 2011 7:05am
i am still seeing trend up till 4323 area taken out
  • #4,973
  • Jul 25, 2011 9:25am Jul 25, 2011 9:25am
Quoting Divergence
i am still seeing trend up till 4323 area taken out
)


Thanks for your input on the trend direction. That is very helpful to receive confirmation.
(I could use that EVERY morning)
Thanks Div
  • #4,974
  • Jul 26, 2011 9:59am Jul 26, 2011 9:59am
It s my first flag trade so i just wanted to show the trade i just have during US session and if it s possible to somebody to tell me if everything was in place for launching this trade or not !

Thank you !
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Respect and Honor !
  • #4,975
  • Jul 26, 2011 11:08am Jul 26, 2011 11:08am
i entered at 11.03 and broke even....
about last post trade
no trend prior the entry and not a valid entry bar, but you got the money so its a winner : )
  • #4,976
  • Jul 26, 2011 11:15am Jul 26, 2011 11:15am
I took two trades today: spec's break even trade and this one 48 minutes after Frankfurt open...
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  • #4,977
  • Jul 26, 2011 11:24am Jul 26, 2011 11:24am
Hi,

it's never a mistake to have a look at eco and other moving news. There are some MT4 addons to get those ie out of the FF calendar.

Some times ago I discovered StatAlert, it's a free software from a french company - english language though, you may choose time before events to remind by male/female voice. Valuable tool here.

Have a look at http://www.it-lyse.com/site/indexV2.jsp?id=140. You'll find flash movie, manual and download link.

josch
trading is war - life is simple
  • #4,978
  • Jul 26, 2011 12:54pm Jul 26, 2011 12:54pm
Average size 1M price bars 2 pips....Nothing for me today...no trend, no momentum...Think everyone is waiting for the budget circus to be over...
  • #4,979
  • Jul 27, 2011 3:17am Jul 27, 2011 3:17am
Here are today pies stuffed with 123. go smoke a cigar

http://savepic.net/1740188m.gif

Happy Trading
  • #4,980
  • Jul 27, 2011 5:23am Jul 27, 2011 5:23am
Just how I see it ...
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