Flag trading the trend

thanks for that guys appreciate it

In my opinion, it would be better to remain focused on the price action and the patterns than to begin what is typically the ruinous search for "filters." An edge will put money into your pocket over time only if you trade each appearance of that edge (assuming it is indeed and edge). The search for filters, a sort of "Holy Grail-lite" quest indicates a problem with what is between the trader's ears and in his heart and not the system, method, or set-up.

Get thee to a vendor of books and procure for thyself a copy ofMark Douglas's books: either Trading in the Zone or The Disciplined Trader (or be a trading geek like me and get them both) and then do the 20 trade exercise. I can almost guarantee anyone here that if they use the 18 range and stick to just one of the patterns here and only take with trend continuations, your results after 20 trades will be a bigger account equity. There will be losers, of course. Maybe even half of the trades during a particular run. But the long run results, the results that make casinos winners and will make you a winner, will be positive.

I would also suggest that anyone coming to this approach first paper trade these set ups via market replay. I know many scoff at paper trading because it doesn't involve the emotions the same way as real trading does when there is money on the line. But the object of paper trading is to train your eye to see the set ups before they trigger and train your reflexes to enter orders, stops, targets, etc. The Air Force doesn't send a pilot out in a fighter without his first spending many, many hours in a flight simulator. The fact that his life is not on the line while in simulator does not make the time spent training in the simulator any less valuable. If you feel you need filters, you likely should work on your traders mind-set and go back to market replay paper trading for a day or so to get your confidence back up.

As always, kudos to Divergence for spawning a valuable, idea-generating discussion, and to each of you contributing your efforts here.

As usual DD spot on brother!!!

Excellent post! Some really good advice in here for all - I will take on board all the suggestions. I do have trading in the zone, just have to revise my notes on it.

Also is anyone going to be trading today with the Fed Announcement today and unknown time. It is stated as a random high impact news - could this seriously impact some of the CL trades. Would it be better to ignore it or take precautions before trading.

its better to ignore it .no fixed time. any time it can be release on us session .so i think its better avoid it.

I agree. Just a distraction. As a general rule is it a 10 tick stop because we are trading 10 tick range charts? So if we are trading 13 ticks then it would be 13 stop n profit ?

so far just the 67 long win

here's my day:

42.07 123 long reversal was winner from earlier

also just noticed how 1st and 3rd trades from yesterday were more or less in same area whereas 2nd trdae was in no man's land:

97 short wins

anyone trading this black friday?

not me

long 42.19 win

Good work..

nice setup

Action has really slowed down

123 long at 42.42 that won a while ago .. might get back into trend trade setting up here

sold the 123 at 86 got up 12 came back for +1 then went to tp