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Flag trading the trend

  • #8,621
  • Oct 2, 2015 9:58am Oct 2, 2015 9:58am
44.18 was a loss
44.13 was b/e
Become the casino
  • #8,622
  • Oct 2, 2015 10:28am Oct 2, 2015 10:28am
Quoting zenline
is that a legit 123 break? {image}
yes
  • #8,623
  • Oct 2, 2015 10:35am Oct 2, 2015 10:35am
it seems having 2 charts has become a little hectic even for me. I don't like having losing days nor does anyone else. so what I plan to do and its just me as I don't want trading to be stressful is I am looking for 1 net win a day. some will say I am limiting myself well I don't I will just trade 3 and 4 contracts and that will be fine. I will do this on the 18r chart. last few days made me sick and I would rather do other things than just look at charts for 3 hrs. I did a back test from april till now to see if this is viable and I had no losing days and only 1 day where I had 5 trades where I had a L W L W W otherwise 90% were 1 trade and out the others were a L W W.
  • #8,624
  • Oct 2, 2015 10:38am Oct 2, 2015 10:38am
Thank you Divergence. I am in process of "delearning" the complexities of indicators and other candlesticks patterns, been day trading futures for past 5 years and results have been inconsistent. However I found that, as I simplify my process and trading, there is improvement. And when I stumbled onto your thread, it's like..wow!..that's what I have been looking for...
  • #8,625
  • Oct 2, 2015 10:44am Oct 2, 2015 10:44am
Quoting zenline
Thank you Divergence. I am in process of "delearning" the complexities of indicators and other candlesticks patterns, been day trading futures for past 5 years and results have been inconsistent. However I found that, as I simplify my process and trading, there is improvement. And when I stumbled onto your thread, it's like..wow!..that's what I have been looking for...
glad I could help
  • #8,626
  • Oct 2, 2015 11:40am Oct 2, 2015 11:40am
I think you are right Divergence.

This was the most refreshing method I have discovered in 3 year career. Even myself I started venturing into taking all the trades and even went to 8 ticks (beyond the 13 tick!) Even though it is possible to make money every day in hindsight - in reality and real time this is far from the truth and the stress and psychological strain it has put is not worth it.

I guess this is human nature and greed to some extent.

I am with you, only need 1 a day and with proper capital management you can make just as much if you were to take more trades on smaller timeframes. (Or ranges in this case)
  • #8,627
  • Oct 2, 2015 11:48am Oct 2, 2015 11:48am
Quoting jubael
I think you are right Divergence. This was the most refreshing method I have discovered in 3 year career. Even myself I started venturing into taking all the trades and even went to 8 ticks (beyond the 13 tick!) Even though it is possible to make money every day in hindsight - in reality and real time this is far from the truth and the stress and psychological strain it has put is not worth it. I guess this is human nature and greed to some extent. I am with you, only need 1 a day and with proper capital management you can make just as much if you...
don't need to take a lot of trades for me to get 1 net win a day like I use to when I traded forex was plenty. here in futures all that's needed is to trade more contracts not more trades. if you have 5000 in acct you can trade 4 contracts because margin is 1000 per contract. I usually keep 6000 in acct and trade 3 contracts for me 450 a day is fine 7200 a month and maybe I will go to 4 which would be about 10000 these are all good numbers and a whole lot less stress there were days I would be done at 845 just 15 minutes of trading I like that I like that alot
  • #8,628
  • Oct 2, 2015 11:55am Oct 2, 2015 11:55am
What would that be in terms of risk per trade in %?

I was wondering, would trading more contracts not be an issue in terms of getting filled?
  • #8,629
  • Oct 2, 2015 11:56am Oct 2, 2015 11:56am
i'm on board with this .. r13 has smashed me this week - back to r18 as from monday and cut and run once you've got a net win for the day.

good w/e all
Become the casino
  • #8,630
  • Oct 2, 2015 11:57am Oct 2, 2015 11:57am
Quoting jubael
What would that be in terms of risk per trade in %? I was wondering, would trading more contracts not be an issue in terms of getting filled?
so if you have 6000 in acct and risk is 450 its about 7.5% So if you traded 2 contract risk is 300 that's 5%
  • #8,631
  • Oct 2, 2015 12:03pm Oct 2, 2015 12:03pm
Thanks Divergence. I don't like staring at screens all day either. Make money slowly and stick to rules
  • #8,632
  • Oct 2, 2015 1:19pm Oct 2, 2015 1:19pm
Quoting Divergence
it seems having 2 charts has become a little hectic even for me. I don't like having losing days nor does anyone else. so what I plan to do and its just me as I don't want trading to be stressful is I am looking for 1 net win a day. some will say I am limiting myself well I don't I will just trade 3 and 4 contracts and that will be fine. I will do this on the 18r chart. last few days made me sick and I would rather do other things than just look at charts for 3 hrs. I did a back test from april till now to see if this is viable and I had no losing...
Yes. In trading, usually less is better. Thanks for your effort.
  • #8,633
  • Oct 2, 2015 3:11pm Oct 2, 2015 3:11pm
i've just run through this week applying r18 signals and looking to get 1 net win/day ... under these rules would have been 3 full wins, 1 +8, 1 loss and 3 b/e trades. Compared to the net 4 losses i've had this week this looks like a decent week
Become the casino
  • #8,634
  • Oct 2, 2015 3:13pm Oct 2, 2015 3:13pm
Attached Image (click to enlarge)
Click to Enlarge Name: clresoct.png Size: 26 KB
Become the casino
  • #8,635
  • Oct 2, 2015 4:03pm Oct 2, 2015 4:03pm
Quoting erasmus66
{image}
I had 4 wins . If we get a + 8 I will take another trade . Monday was a +8 Tuesday was a win from 04 Thursday started with a loss then a win then a hat for a win Friday win from 87 that's 4 wins and a +8 for this week. This is how I will trade from now on no more researching
  • #8,636
  • Oct 2, 2015 9:21pm Oct 2, 2015 9:21pm
Divergence, I've just started this week with R18 and R13 and it's about b.e. for me overall, still learning. I agree that looking at two charts can be taxing for me.

I would like to ask a newbie question if you don't mind, regarding the overall trend from midnight to 8.30 EST. Are you looking at the overall direction and slope to determine it, like just eyeball it or is there any specific way like HH, LH, HH etc?

I do get confused when it's like up early and then it turned sharply down say from 7 am, there is an up and down, like a V turn, do we take the latest move then or in this kind of scenario it's neutral?

Thanks
  • #8,637
  • Oct 2, 2015 10:57pm Oct 2, 2015 10:57pm
I eyeball it if we are in a 40 tick range I wait for high or low to be broken. if we say open at 45 and it goes up to 45.50 then down to 44.50 we are down till 45.50 hope that is clear. basically did market hh hl or ll lh leading up to 830 it really should be easy to see it
  • #8,638
  • Oct 3, 2015 12:56am Oct 3, 2015 12:56am
Divergence, assuming a 2b is forming and the line breaks pt 2 but not closed yet, and I entered +/- 1 tick above or below, but then it closed before pt 2 was broken and it stopped me out. Do I re-enter if there is a 2nd break awhile later or I should be waiting for a new pattern to emerge?
  • #8,639
  • Oct 3, 2015 1:20am Oct 3, 2015 1:20am
Quoting Divergence
I eyeball it if we are in a 40 tick range I wait for high or low to be broken. if we say open at 45 and it goes up to 45.50 then down to 44.50 we are down till 45.50 hope that is clear. basically did market hh hl or ll lh leading up to 830 it really should be easy to see it
Am I correct in interpreting this from this chart?
Attached Image (click to enlarge)
Click to Enlarge Name: CL 11-15 (18 Range) 9_25_2015.jpg Size: 73 KB
  • #8,640
  • Oct 3, 2015 6:18am Oct 3, 2015 6:18am
All patterns are based when line closes after the 18 ticks. If it triggers after that and gets us in and takes us out and pattern is still the just reenter at original price. On the chart that low point by midnight must be taken out first if now the market is up
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