Flag trading the trend

might get a hat

looks like a big hat

be on the look out also if this forms a 123 to get into trend

07 loss

when price formed the hat the next bar formed a flat area when that happens I stay away its a pause in patterns and it doesn't give us a defined entry. if we were to use the flat area then it would have been a 123 to get back into the trend I would rather not engage in the flat areas

07 loss also

I will remember that lesson

flat for the day too

2nd time round and it wins didn't take it shame

going forword if we get a legit entry on a setup and we get taken out and setup is still valid the reentry is the play. on this trade there could be a case for the reentry but I never backtested it when I get a flat area I wait for an entire new setup

i've seen this too - re-entry at same point seems very reliable. psychologically diificult because you've already had 1 loss at this point

probabilities is what trading is all about. that's why I set up the parlay method of money management so that we can trade with profit only so we can eliminate the fear factor. so when you are up 30 ticks after you have a loss that means you won 3 in a row followed by a loss with 1 lot then go to 2 lots for next trade. worse case scenario you become flat or best scenario is you are now up 60 ticks on month. repeat process till you are up 90 ticks or more in the month and then get a loss then you trade 3 lots and from that point on trade 3 lots every month. so after 1 month you can take out you initial investment and trade with profits only

yes very nice approach Harold

interesting day 100 tick moves up and down and up

maybe we get a 123 to go short

47 short loss

now trend is up what a topsy turvy day 3 lead changes

what setup? do you mean that 1 tick 2b?

84 long b/e. 1 win 2 losses for me today