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Flag trading the trend

  • #5,001
  • Aug 6, 2011 7:08am Aug 6, 2011 7:08am
Div, I want to ask you about the definition of a trend this week from 1 to 5 August. You can show the priority of the trend in my screenshot, what would be seen the levels of the fracture, trading for a 5 minute chart.
Thanks in advance.
http://savepic.net/1806472m.gif

Happy Trading
  • #5,002
  • Aug 6, 2011 9:52am Aug 6, 2011 9:52am
Quoting Daytrader_UA
do not have time to properly set a profit on this was closed with a market.right 1:1 + 19 pips

http://savepic.net/1748562m.gif

Happy Trading
++++++++++++++++++++++++++++++++
Nice win Daytrader. Many things came together here to make this a good trade.
• Time of day
• 2B Reversal set up (http://www.trading-naked.com/2b-reversal.htm)
• 5m Flag set up

Since the 3 point marked on your chart is 2.8 pips lower than the #1 point, this does not qualify as a 123. According to Div's rules on this, the 3 point can be 1 pip, or less, beyond the #1 point. Rules which make the Flag such a good trade, should be followed very closely or else it is easy to start getting away from rules and your account will suffer.

One other thing that I noticed here is this is a very good Tom DeMark Trend Line Break. I've studied this method for a few years and it is extremely powerful on most time frames. If you'd like more info on this PM me.
Darryl
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  • #5,003
  • Aug 8, 2011 2:24am Aug 8, 2011 2:24am
Quoting diamonddbw
++++++++++++++++++++++++++++++++
• 2B Reversal set up (http://www.trading-naked.com/2b-reversal.htm)
Darryl
Hi Darryl !
http://www.trading-naked.com/CCI_Setups_by_Fitzy.htm Fitzy CCI
http://www.trading-naked.com/CCI-nic..._cci_diver.htm NickTrader CCI
http://www.trading-naked.com/woodie8_patterns.htm 8 grandfather patterns in Woodies CCI
______________________________________________________________
we drink water from the same spring

Happy Trading
  • #5,004
  • Aug 8, 2011 7:19am Aug 8, 2011 7:19am
http://savepic.net/1776754m.gif Trend Line held by three points. Trend Line Break a strong signal.
Happy Trading
  • #5,005
  • Aug 9, 2011 2:22am Aug 9, 2011 2:22am
http://savepic.net/1781729m.gif EUR TLB+flag
http://savepic.net/1800160m.gif GBP Famir+flag
Trend up.

Happy Trading
  • #5,006
  • Aug 9, 2011 3:59am Aug 9, 2011 3:59am
Hey Div, are you still here?
Yesterday there was plenty of opportunities.
Could someone advise me on how to filter out trades like on my 2nd screenshot? Would appreciate it a lot.
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  • #5,007
  • Aug 9, 2011 3:59pm Aug 9, 2011 3:59pm
you can not filter market indecision sentiment on the 1 min tf
advice is stay out or use another way of analysing and use 1 min/5 min for entry for a 30-60 pip moves with wider stops
  • #5,008
  • Aug 10, 2011 9:11am Aug 10, 2011 9:11am
some nice pullbacks but hard to get filled in...
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  • #5,009
  • Aug 11, 2011 5:03am Aug 11, 2011 5:03am
Dear All,

I am just starting to read this very good thread (am currently at page 4 ) and if possible would like to get an opinion from the veterans here, if my below entry and SL / TP setting is correct ?

If not: why would you have not entered ?

Many thanks
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  • #5,010
  • Aug 11, 2011 5:25am Aug 11, 2011 5:25am
Quoting Whenever
Dear All,

I am just starting to read this very good thread (am currently at page 4 ) and if possible would like to get an opinion from the veterans here, if my below entry and SL / TP setting is correct ?

If not: why would you have not entered ?

Many thanks
Hi Whenever,
it seems like you haven't mastered the rules yet. You might want to read some pdf files made by Rcwso http://www.forexfactory.com/showthre...24#post4598224

Also watch diamonddbw's videos http://www.forexfactory.com/showthre...80#post4786680

And there have been some tweaks to the system http://www.forexfactory.com/showthre...52#post4748852

Always remember "Find the trend, wait for the pullback, find the setup bar, when it triggers manage trade, MAKE MONEY"
  • #5,011
  • Aug 11, 2011 6:01am Aug 11, 2011 6:01am
Quoting vince
Hi Whenever,
it seems like you haven't mastered the rules yet. You might want to read some pdf files made by Rcwso http://www.forexfactory.com/showthre...24#post4598224

Also watch diamonddbw's videos http://www.forexfactory.com/showthre...80#post4786680

And there have been some tweaks to the system http://www.forexfactory.com/showthre...52#post4748852

Always remember "Find the trend, wait for the pullback, find the setup bar, when it triggers manage trade, MAKE MONEY"
Hi Vince,

many thanks.
I'll read your suggestions and watch the videos.

Indeed page 4 is too less for testing a trade
  • #5,012
  • Aug 13, 2011 9:40am Aug 13, 2011 9:40am
Quoting Divergence
There is a host of various kinds of methods but the simplest way to make money is trading flags in a trend. YOU can do it on any time frame and any pair. In other words trade the pullback in a trend do this and you will find your self not looking on the forex factory threads except to see when news is happening. YOU WILL FIND ON PAGE 319 POST 4780 THE RULES FOR TRADING !!!!!
Do you want to say that all other trading methods are junk or you think that there is not enough trading methods out there?
  • #5,013
  • Aug 15, 2011 11:23pm Aug 15, 2011 11:23pm
Quoting Divergence
here is link for recorded webinar http://www.anymeeting.com/tradingthetrend/E157D88285
Thanks Divergence. I really appreciate the effort you put into this thread.
  • #5,014
  • Edited Aug 17, 2011 10:11pm Aug 16, 2011 11:37pm | Edited Aug 17, 2011 10:11pm
Quoting Ged
Do you want to say that all other trading methods are junk or you think that there is not enough trading methods out there?
You are asking a professional trader who provides his time free of charge to help others questions that have no relevance to your development as a successful trader.

He is not saying all others are junk - just that his is simple and effective.

I don't think you should waste Div's time with such average questions.
Enter Signature
  • #5,015
  • Aug 17, 2011 6:50am Aug 17, 2011 6:50am
I Div,

I notice you still stop by the tread once and awhile, but you haven’t posted in some time. Will you be keeping the tread alive I little while longer? I know I probably don’t just speak for myself when I say I could still use some continued support in this great system and any help would be greatly appreciated. It would be great if you could post some of your recent trades so that we can get more insight on your thought process on different market conditions.

If not, I thank you regardless for showing us a great simple system.

BTW, I have gone back to trading the 5 min charts as I could not find consistent success in the 1 min charts. Not to say the 1 min does not work just that I can not seem to filter the trades to stay out of!
  • #5,016
  • Aug 17, 2011 8:02am Aug 17, 2011 8:02am
Quoting thefallguy
BTW, I have gone back to trading the 5 min charts as I could not find consistent success in the 1 min charts. Not to say the 1 min does not work just that I can not seem to filter the trades to stay out of!
I have repeatedly said that one minute chart is too noisy, as well as CCI 8
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http://savepic.net/1880918m.gif

so I'm building a pyramid on an auspicious day.

Happy Trading
  • #5,017
  • Aug 17, 2011 8:53am Aug 17, 2011 8:53am
Quoting Daytrader_UA
I have repeatedly said that one minute chart is too noisy, as well as CCI 8
--------------------------------------------------------------------
http://savepic.net/1880918m.gif

so I'm building a pyramid on an auspicious day.

Happy Trading
Well played my friend
Happy Trading
JTee1
  • #5,018
  • Aug 17, 2011 11:37am Aug 17, 2011 11:37am
Hi,

I really enjoyed reading this thread, thumbs up to everyone. However I have some trouble putting theory into practice. I wait for the trend to be taken out, then look for a retracement and try to (enter short in this case) as soon as price was trading below MA10 and -50CCI. OK I set my stop loss at the last swing high just to see my SL being hit again. I cant even get a lucky trade in, must be doing something really wrong imo. please help

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  • #5,019
  • Aug 17, 2011 1:47pm Aug 17, 2011 1:47pm
Quoting Daytrader_UA
I have repeatedly said that one minute chart is too noisy, as well as CCI 8
--------------------------------------------------------------------
http://savepic.net/1880918m.gif

so I'm building a pyramid on an auspicious day.

Happy Trading
CCI 8 is to noisy? what are you using?
Could you elaborate on what settings and indicators you are using?
  • #5,020
  • Aug 17, 2011 3:22pm Aug 17, 2011 3:22pm
Quoting Forex_Fox
Hi,

I really enjoyed reading this thread, thumbs up to everyone. However I have some trouble putting theory into practice. I wait for the trend to be taken out, then look for a retracement and try to (enter short in this case) as soon as price was trading below MA10 and -50CCI. OK I set my stop loss at the last swing high just to see my SL being hit again. I cant even get a lucky trade in, must be doing something really wrong imo. please help

Attachment

You are not setting your SL correctly, you need to review the 5min rules.

BTW at what time did you place that trade (GMT)?
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