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Flag trading the trend

  • #5,101
  • Sep 14, 2011 7:48am Sep 14, 2011 7:48am
I'm enjoying your charts, Cableguy : keep 'em coming.
  • #5,102
  • Sep 14, 2011 9:12am Sep 14, 2011 9:12am
UAU!

Awesome cableguy! Refreshing my memories indeed, I will try to have it all in mind.

Hope to leave the break-even soon with this system. My ratio with this system still 50/50, and i'm sure the problem is to be taking to much entry's.

Regards and thanks!
PH
  • #5,103
  • Sep 14, 2011 11:15am Sep 14, 2011 11:15am
How are you identifying trend, please ?

* Divergence's way, which I think is now to draw a single S&R line (involving some discretion) on the M15 chart, then long above, short below. If so, was your bias exclusively short so far this week ? Btw, please correct me if D is still looking at HL & LH etc.

* Using a longer MA (I am using an 89 EMA on the M1, although also keeping an eye on the M15 S&R) ?

* Above / below the Session Open (a la Peter Crown / DIBS) ?

* Other method (please state) ?

The 89 EMA allows more trades, but I'm aware of a No Man's Land when the MA goes from say short to long, while price is still below the S&R level.

I'm also aware of the tendency to want to trade more, whereas the gift of this method as it stands, correctly executed, is a very good monthly return.
  • #5,104
  • Sep 14, 2011 11:35am Sep 14, 2011 11:35am
Quoting The Cableguy
Just something i've noticed. This is 'flag trading' after all... therefore; you need to be able to draw a quality flag. Yes, i too have taken many good trades without so called 'touchpoints', however, without them i have also seen many fail!
I find there are too many valid triggers, which immediately fail as they were just part and parcel of setting up a larger flag. I'm only interested in the ones which connect and make a decent line at the right angle and then later a SUB which decisively breaks that line.
Another interesting observation about...
++++++++++++++++++++++++++++++++
Thanks CB. Not much time at the moment but will review this chart later. The main thing I notice here is I don't see momentum. This looks like a 10-12 pip range.
Keep 'em coming...
  • #5,105
  • Sep 14, 2011 12:12pm Sep 14, 2011 12:12pm
In this moment I'am Using the break of the HL to look for shorts or the break LH to look for longs. (as Cableguy exemplifies)

Before, I was using 15 min sequences of HH HL or LH LL, trendlines and channels.

Regards
PH
  • #5,106
  • Sep 14, 2011 4:42pm Sep 14, 2011 4:42pm
Ok, so one more time then!

With a time scale of over 2 hours in setting up, i switch to the 5min chart. We start with a fresh HH, trend has been up. Three lovely clear touchpoints line up to create a quality flag. Look out for the pullback and consequently, strong SUB, this one makes it quite clear and is an 'obvious' trade...


http://i464.photobucket.com/albums/r.../touching5.png
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #5,107
  • Sep 14, 2011 6:50pm Sep 14, 2011 6:50pm
Quoting jtrade
First trade of my morning using the futures (I primarily trade futures).

Just testing an indi that automatically draws S&R, so please excuse & ignore, as well as the two longer emas for trend.

Edit : I'm enjoying listening to Div's dulcet tones on Darryl's videos - thank-you, gentlemen - but I've succceeded in confusing myself as to the proposed "final" stop / target setting : I thought it was using the SUB +1 + spread for both target and stop, but now I think it's simply a 15 pip stop & target ... it doesn't really matter, actually, but I'm...
++++++++++++
Sorry JT. Missed this question.
• The 5m Flag initially was (SUB +1 + spread).
• When we added the 1m Flag the rule went to 15 & 15 L/S.

Actually before that it was something different which I can't recall right now.

It's pretty amazing how a good 1m flag will extract 17 pips or so (adding the spread) out of the market with the consistency that it does.
Good Hunting,
Darryl
  • #5,108
  • Sep 15, 2011 2:58am Sep 15, 2011 2:58am
... and now waiting for Euro news in a few mins.
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  • #5,109
  • Sep 15, 2011 3:27am Sep 15, 2011 3:27am
Just moved stop to b/e +1 after +12 reached & overhead resistance...

GBP news in a few mins...

Edit : stopped @+1.

Next (but not till after Euro news in 31 mins) !

Edit2 : original +15 target hit 7 mins later.
Attached Image (click to enlarge)
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  • #5,110
  • Sep 15, 2011 3:42am Sep 15, 2011 3:42am
Quoting jtrade
... and now waiting for Euro news in a few mins.
Hey Jtrade

Make a little editing on your chart to explain my entry.

What do you think of that entry?

Didn't enter at the same time as you because we will hit resistance before 15 pip...

Best regards
PH

Edit: Sorry, SUB is 2 candles after.
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  • #5,111
  • Sep 15, 2011 4:16am Sep 15, 2011 4:16am
retracement in GU M5,before BOE news
Attached Image
  • #5,112
  • Sep 15, 2011 4:25am Sep 15, 2011 4:25am
PH - possible, but I passed on it for 2 reasons : "High" impact Euro news was 20 mins or so away - getting close - and the flag itself was not clearly defined.
  • #5,113
  • Sep 15, 2011 4:45am Sep 15, 2011 4:45am
This one went great
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  • #5,114
  • Sep 15, 2011 4:49am Sep 15, 2011 4:49am
Nice trade, PH
  • #5,115
  • Sep 15, 2011 5:22am Sep 15, 2011 5:22am
Quoting alireza84
retracement in GU M5,before BOE news
Hi alireza84:

Can u pass me that retracement finder that paints the subs with a different color?

Thanks!
PH
  • #5,116
  • Sep 15, 2011 5:23am Sep 15, 2011 5:23am
http://savepic.org/2323747m.gif
slingshot, I like it
Happy Trading
  • #5,117
  • Sep 15, 2011 5:28am Sep 15, 2011 5:28am
Just to be careful

Harmonic indicator shows reversion.

Regards
PH
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  • #5,118
  • Sep 15, 2011 5:31am Sep 15, 2011 5:31am
Quoting Daytrader_UA
http://savepic.org/2323747m.gif
slingshot, I like it
Happy Trading
You post nice charts, Daytrader, but with all respect I think you're on the wrong thread : why not start a WoodiesCCI thread (as that seems to be what you're trading) ?
  • #5,119
  • Sep 15, 2011 5:39am Sep 15, 2011 5:39am
Quoting jtrade
I think you're on the wrong thread
Hi Dutchman!
you use the CCI indicator for input in this thread, I'm only showing one of the features of beauty the CCI.
with respect Daytrader_UA
  • #5,120
  • Sep 15, 2011 7:12am Sep 15, 2011 7:12am
Anyone buying the next buy sub?
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
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