Flag trading the trend

Ok! I'll try to look these. However, have to say, I am very happy with driving simultaneously r13 and r18 and taking only 2 dot setups

Thank-you for sharing the stats, Desiderius Erasmus Roterodamus : 43% winners across the board and very profitable.

That's realistic trading for you

Quiet morning on the EU front : the trade I took and the one I missed (red triangle) :

I really am getting old... I have switched my second market from EURUSD to 6E (it's a Ninja thing : no Static SuperDOM for FX, & I prefer futures anyway)... so on this laboriously slooooooooow morning, I'm thinking "Enough for today", even though it was only just after 10.30, but I see a 6E setup and place my Stop Limit order... then I BREAK MY RULE : NO READING OF EMAILS WHILST TRADING ... suddenly I hear "Order Pending" and see 6E heading south fast, but I think my Stop Limit is not filled as I am not focused, so I close the order and close the position at +5 (for +$125) and it heads straight to +13 +34 for a shouddawouddacoudda +$587.50.

Aaaarrrrrggggghhhhh... Harold you have my permission to shoot me.......

"They shoot horses, don't they ?"



Done for the day :

BANG!!!!!!!

what a slow week flat for the week so far

Is this volatility drop because of coming summer or what is going on???

I don't think so its been in a range for a couple of months 63 to 58 I think there being trained to accept price in the 60 to 70 range till over supply reduces there will still be trades just have to wait till it happens and then attack

{quote} BANG!!!!!!![/quote]

That is too bad,,,I will miss his excellent input...

Great song from our past

I always am reviewing charts to find certain patterns that repeat themselves that have a high winning pct. I think I found another. Its a continuation pattern some in the supply and demand world may call it a rise base rise or a drop base drop I call it a continuation pattern with the current trend. heres how it goes when price is trending up and we get a 1 candle pullback candle then an up candle we enter on a break of high of up candle reverse for down trends they don't all win but it seems 8 out of 10 as I pour over charts. stop is the same 20 target is 40. same trade management rules get up 10 or a candle move stop to +1 up 30 lock in 20 up above 30 lock in 25 within 4 of target lock in 30 to 35 . another tool for toolbox no reason this cant be used with what we are doing. we have s and r trades 2 dots trade an now another setup they are all trend setups if you think about it why should we not capitalize when its trending. make sure macd is crossed before entering heres some charts to see what I mean

Seems good and if it works ongoingly, seems even better.... thanks for sharing, H.

I have gone in the opposite direction, reducing my setups, in an effort to make trading even more boring*. I basically trade one setup only, a retrace to the MA in a trend / swing, usually only the first or second retrace, unless the trend is very strong. There are nevertheless subtle nuances : in my Post 6802 above, the trade I missed (marked with the red triangle) by my normal setup rules went too far, ie. retraced beyond the MA... BUT it also formed a perfect 2-legged pullback into a "second entry", so I will ALWAYS take this trade (other than < 5mins before major news) if I'm actually observant & at my desk.

So I still classify it as a "pullback to MA". Btw, to the indicator junkies : just choose the MA you like, 20 EMA or SMA is as good as any. I'm using the Coral indi which for NinjaTrader is available at Big Mike's (Elite section), but there's not much, if any, practical difference.

Imho, consistently successful trading is 99.9% psychology, 0.1% method / indis ('said it before & will doubtless say it again).

Traders : Know Thyself. Until you do, consistent success with reasonable amounts of real $ is unlikely to be yours.

* I notice the more boring my trading is, the more profitable. Only trading 0900 > 1200 CET, 5 days a week. I used to do what you suggest, H, have my mornings to myself, then trade US hours, but then family life arrived (late in my case)... and I am an early bird up at 0600 who has also lived in Italy, so I like my siesta after lunch .

It's a Dolce Vita kind of thing... now, where did I leave the keys to my Maserati.... ?

looks interesting Harold ... will investigate

Tralallaa

Left is R18, right is R13

http://i.gyazo.com/3435064b3eb6480e0fab393c29ebb5e5.png

trend continuation pattern win very nice

Indeed. Now waiting for the second trade for the day

grabbed 15 from 17 long

Still in from 59.27 r13

Closed

Seeing nothing but range on BR, I couldn't get enthused enough about anything to get in... Calling it a day...