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Flag trading the trend

  • #7,641
  • Aug 13, 2015 10:10am Aug 13, 2015 10:10am
can't find much upside atm
Become the casino
  • #7,642
  • Aug 13, 2015 3:04pm Aug 13, 2015 3:04pm
Until market corrects will suspend reversal against trend trades and look for reversals back into trend setups.
  • #7,643
  • Aug 14, 2015 6:29am Aug 14, 2015 6:29am
Quoting Divergence
Until market corrects will suspend reversal against trend trades and look for reversals back into trend setups.
i think as long as the signal is clear reversals are still ok. I have backtested just taking 'get back into trend' trades and tick take is reduced by roughly half without the reversal trades. Yes the last few reversal signals have been unreliable but that's nothing we haven't seen in backtest
Become the casino
  • #7,644
  • Aug 14, 2015 7:29am Aug 14, 2015 7:29am
Another pain free Euro example from earlier today. Had I not been taking taking my son to the dentists I'd like to think I would have been on this !
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  • #7,645
  • Aug 14, 2015 8:09am Aug 14, 2015 8:09am
nice up trend
Become the casino
  • #7,646
  • Aug 14, 2015 9:56am Aug 14, 2015 9:56am
took a chance of the 2b followed by 123 short 48
  • #7,647
  • Aug 14, 2015 9:58am Aug 14, 2015 9:58am
stop to +5
  • #7,648
  • Aug 14, 2015 10:09am Aug 14, 2015 10:09am
grabbed 20. wasn't going to take reversals against the trend but this hat formed and I couldn't resist since overall we are pressing down todays action was up but I cant resist those perfect hat formations (h and s)
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  • #7,649
  • Aug 14, 2015 10:41am Aug 14, 2015 10:41am
for those still trading right now the 67 would be the spot where theres a 2b to get back into todays trend its now 50
  • #7,650
  • Aug 14, 2015 11:17am Aug 14, 2015 11:17am
if you entered 50 your in very nice profit
  • #7,651
  • Aug 14, 2015 11:28am Aug 14, 2015 11:28am
I took a short off a 10 tick renko mean chart when we had divergence at the highs after price had retraced back up to and rejected the 30 tick renko flip point. Had to go out so left a stop it place at +25, ended up with +22 after frankly outrageous 3 tick slippage. Had I been around, I would have exited a bit earlier as it couldn't break through support and painted 2 consequtive blue bars.
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  • #7,652
  • Aug 14, 2015 11:33am Aug 14, 2015 11:33am
you got slipped 3 ticks with a 1 lot trade that is outragous
  • #7,653
  • Aug 14, 2015 12:45pm Aug 14, 2015 12:45pm
Quoting Divergence
took a chance of the 2b followed by 123 short 48
this is much more my thinking going forward for reversal trades, i.e. waiting for a confirmation (123 following 2b or 123 following 123). Will miss some wins but will also miss some losses. Take yesterday's trade for e.g.

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the 123 following 2b didn't trigger so we would have just sold the 2b at 75 for win

obviously needs backtesting
Become the casino
  • #7,654
  • Edited 2:53pm Aug 14, 2015 2:32pm | Edited 2:53pm
<p>Erasmus this is amazing i just did a thorough backtest and you are correct. The only reversal against the trend must be a clear hat formation 2b followed by 123 otherwise i will only take setups to get back into the trend.we are on same page. Now heres the fun part on how to maximize profits. Start with 1 lot and when you are still up 40 ticks after you have a loss then go to 2 lots. Want to make it more interesting when up 120 ticks after a loss trade 3 contracts that what is called parlaying your profits
  • #7,655
  • Aug 14, 2015 2:37pm Aug 14, 2015 2:37pm
will run through myself for confirmation - this must have improved backtest results
Become the casino
  • #7,656
  • Aug 14, 2015 2:54pm Aug 14, 2015 2:54pm
Quoting erasmus66
will run through myself for confirmation - this must have improved backtest results
it did i also edited last post
  • #7,657
  • Aug 14, 2015 5:23pm Aug 14, 2015 5:23pm
Quoting Divergence
Forget everything to you get to rules on page 354 post 7071 and chart examples that follow study these setups and be on right side of market 90 % of the time
hello i just started to read your thread but i have seen your explanation that leads me to 354 th page as i see you totally left trading on mt4 and started to use another platform so please tell me is that a 5 min line chart? does your system work on currency crosses? what is your sl and tp ? sorry for my ignorance i am a newbie so i really dont know anything about your system. you mention about ticks i wanna know about pips
  • #7,658
  • Aug 15, 2015 10:57am Aug 15, 2015 10:57am
<p>[quote=zirzovat;8437310]{quote} hello i just started to read your thread but i have seen your explanation that leads me to 354 th page as i see you totally left trading on mt4 and started to use another platform so please tell me is that a 5 min line chart? does your system work on currency crosses? what is your sl and tp ? sorry for my ignorance i am a newbie so i really dont know anything about your system. you mention about ticks i wanna know about pips these questions have already been answered i will not repeat it again read the thread and examine chart examoles PLEASE
  • #7,659
  • Aug 15, 2015 11:13am Aug 15, 2015 11:13am
Quoting erasmus66
{quote}. Will miss some wins but will also miss some losses.
  • #7,660
  • Edited Aug 16, 2015 12:17am Aug 15, 2015 11:28pm | Edited Aug 16, 2015 12:17am
Quoting jtrade
Yeah, I want my money back, H - pls send a cashiers cheque to the Liechtenstein account as usual... More seriously, I was just sipping my hot chocolate, when this setup appeared... but I FatFingered (jtrade TM) my exit for +9 instead of +20 , but as trading olive oil is not part of the main plan, no worries... {image} Btw, thinking of something you wrote recently, I am experimenting with variable pos sizing - increasing after a win. It seems to be a good idea as often I have a hot day with 3 wins in a row, whereas the bad days...
Quick question, are they standard pivot lines on your chart?
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