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Flag trading the trend

  • #8,641
  • Oct 3, 2015 8:19am Oct 3, 2015 8:19am
hey zen heres a few charts so you can see what I am talking about​
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  • #8,642
  • Edited 11:39am Oct 3, 2015 11:23am | Edited 11:39am
Hi Divergence,

I have looked at the begining of the thread and it said to check out post 7071,,,, I did, but I don't understand. Could you do me a favor and give a quick recap of this method, or point me to key threads?

I read the PDF posted way back in 2011, but it seems like alot has changed since then. Are you still using indicators?

Thank you!

Dave
  • #8,643
  • Oct 3, 2015 12:46pm Oct 3, 2015 12:46pm
Quoting lesuer26
Hi Divergence, I have looked at the begining of the thread and it said to check out post 7071,,,, I did, but I don't understand. Could you do me a favor and give a quick recap of this method, or point me to key threads? I read the PDF posted way back in 2011, but it seems like alot has changed since then. Are you still using indicators? Thank you! Dave
here is complete rules. we use a 18 tick range bar chart set to line instead of candlestick. we are dealing with last or closing price its the same thing. starting time is 830 end at 1130. NO WEDNESDAY TRADING. we or I should say I am looking for 1 net win and be done. so if I start with a loss I put on next trade till I end up net plus 1. in last 6 months the most trades in 1 day was 5 and it happened once it went like this L W L W W. the other days were either 1 trade for a win or 3 trades to get the 1 net win. Target and stop is 15. when up +8 move stop to +1 when up +13 move stop to +8 If you look at the 3 charts I just posted before your post it shows how we determine trend leading up 830 ny time.so if trend is up we look for a 2b or 123 pattern to get back into the trend. The other setup I call THE HAT which is basically a head and shoulders or W OR M pattern. When they are formed we obviously trade the 123 of it. Here is the money management to parlay your profits so in essence you will be able to remove your starting capitol and trade strickly with profits only and draw out income each month. start with 1 contact till you have won 3 in a row then have a loss then move to 2 contracts if you lose you have then broken even and just repeat process. say you win that trade when acct gets up 90 ticks after a loss go to 3 contracts. here are charts to show the visual of this.
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  • #8,644
  • Oct 3, 2015 1:54pm Oct 3, 2015 1:54pm
Quoting Divergence
hey zen heres a few charts so you can see what I am talking about​ {image} {image} {image}
thanks Divergence. On your 2nd chart, between midnight and 8.30, there was a H, LH and L, LL going into 8.30, that does not count because the low at midnight was not taken out?
  • #8,645
  • Oct 3, 2015 2:05pm Oct 3, 2015 2:05pm
Quoting zenline
{quote} thanks Divergence. On your 2nd chart, between midnight and 8.30, there was a H, LH and L, LL going into 8.30, that does not count because the low at midnight was not taken out?
thats correct. Price went up from midnight and thats makes days trend up till that low gets taken out. If you understand days trend leading up till 830 you will then know where to look for setup to get back into the trend. As you can see there was a 123 then another 123 its the second 123 that gets triggered to get back into up trend
  • #8,646
  • Oct 3, 2015 2:43pm Oct 3, 2015 2:43pm
Quoting Divergence
{quote}here is complete rules. we use a 18 tick range bar chart set to line instead of candlestick. we are dealing with last or closing price its the same thing. starting time is 830 end at 1130. NO WEDNESDAY TRADING. we or I should say I am looking for 1 net win and be done. so if I start with a loss I put on next trade till I end up net plus 1. in last 6 months the most trades in 1 day was 5 and it happened once it went like this L W L W W. the other days were either 1 trade for a win or 3 trades to get the 1 net win. Target and stop is 15. when...

Thanks for the explanation! It seems pretty simple, just takes some getting use to. Has anyone tried trading the first three hours of london open? is it important to trade the NY open?
  • #8,647
  • Oct 3, 2015 2:45pm Oct 3, 2015 2:45pm
Quoting lesuer26
{quote} Thanks for the explanation! It seems pretty simple, just takes some getting use to. Has anyone tried trading the first three hours of london open? is it important to trade the NY open?
more volume in ny session and you need a reference to determine days trend. This is not forex
  • #8,648
  • Oct 3, 2015 2:45pm Oct 3, 2015 2:45pm
Where do you get your range bar charts from? What are you trading? Still just crude oil?
  • #8,649
  • Edited 3:10pm Oct 3, 2015 2:50pm | Edited 3:10pm
Crude oil futures sierra charts. Futures safer than fx also no spread and 4.00 comm pretty cheap to do business
  • #8,650
  • Oct 3, 2015 4:26pm Oct 3, 2015 4:26pm
Quoting Divergence
Crude oil futures sierra charts. Futures safer than fx also no spread and 4.00 comm pretty cheap to do business

Understood!

So, if your first trade is a L you still go in that same direction until you get a +1 w?
  • #8,651
  • Oct 3, 2015 4:51pm Oct 3, 2015 4:51pm
If you have a loss you wait for next setup in the direction of days trend. Heres and example trends down it pulls back and you get a 2b to short and you have a loss. Then price continues to pullback and it takes out high of day now you look for setup to go long
  • #8,652
  • Oct 3, 2015 5:04pm Oct 3, 2015 5:04pm
Quoting Divergence
{quote}here is complete rules. we use a 18 tick range bar chart set to line instead of candlestick. we are dealing with last or closing price its the same thing. starting time is 830 end at 1130. NO WEDNESDAY TRADING. we or I should say I am looking for 1 net win and be done. so if I start with a loss I put on next trade till I end up net plus 1. in last 6 months the most trades in 1 day was 5 and it happened once it went like this L W L W W. the other days were either 1 trade for a win or 3 trades to get the 1 net win. Target and stop is 15. when...
Hi Divergence,

Thanks for the info.

Have a nice weekend.
  • #8,653
  • Oct 3, 2015 9:31pm Oct 3, 2015 9:31pm
Thanks for the helpful charts, Divergence. For backtesting, say for example, there is a break of 2b but it never retrace back to our entry at +1/-1 tick (can't see from the line chart) how do we know if that particular trade was filled, whether it just broke and rocketed or it retraced to fill our entry, then moved?
  • #8,654
  • Edited 9:50pm Oct 3, 2015 9:39pm | Edited 9:50pm
When I do backtest I have a 3 tick range bar candlestick chart right next to 18r chart to verify every trade and taking crosshair with data window to do it. we enter trades 1 tick from price
  • #8,655
  • Oct 3, 2015 9:51pm Oct 3, 2015 9:51pm
Quoting Divergence
When I do backtest I have a 3 tick range bar candlestick chart right next to 18r chart to verify every trade and taking crosshair with data window to do we enter trades 1 tick from price
Thank you for your help. Time for me to get back to studying charts. Have a great weekend!
  • #8,656
  • Oct 5, 2015 7:39am Oct 5, 2015 7:39am
might get a hat
Become the casino
  • #8,657
  • Oct 5, 2015 7:40am Oct 5, 2015 7:40am
Yep
  • #8,658
  • Oct 5, 2015 8:00am Oct 5, 2015 8:00am
16 long
Become the casino
  • #8,659
  • Oct 5, 2015 8:05am Oct 5, 2015 8:05am
Thats that quickie win
  • #8,660
  • Oct 5, 2015 8:07am Oct 5, 2015 8:07am
not much trend for last 5 hrs, so i stayed out
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