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Flag trading the trend

  • #9,201
  • Dec 11, 2015 8:12am Dec 11, 2015 8:12am
Quoting Divergence
I started using candles to avoid some of the false signals ...
It is a dilemma - as great as the Line chart is, one does get triggered into trades that "undo" themselves sometimes...

Have a good one, everybody...
  • #9,202
  • Dec 11, 2015 8:13am Dec 11, 2015 8:13am
tp 10, sl 10, revise to +1 after +7?
Become the casino
  • #9,203
  • Dec 11, 2015 10:56am Dec 11, 2015 10:56am
Quoting erasmus66
tp 10, sl 10, revise to +1 after +7?
I try and get the first 1 at 10 tick and the second go for 20 or at least lock in 10 at around 15 or just hold to it either hits target or stop its like a free trade since you already got the first 1 banked
  • #9,204
  • Dec 11, 2015 11:20am Dec 11, 2015 11:20am
Quoting Divergence
I started using candles
I've used range charts for years. I have always used candles. However, since finding your thread here, I have started to keep a line on close chart open next to my candle chart. I trade based on the candles price levels, but the line on close chart often shows set ups that would otherwise be "hidden."

Good stuff, D
  • #9,205
  • Dec 11, 2015 11:47am Dec 11, 2015 11:47am
looks good .. thanks for sharing Harold
Become the casino
  • #9,206
  • Dec 12, 2015 12:06am Dec 12, 2015 12:06am
Quoting ddaytrader
... I have started to keep a line on close chart open next to my candle chart....
Copy that (although I just put an SMA(1) on the candle chart) ... but the last thing I did before closing my platform last night was add an old template with very plain OHLC bars. Sometimes a different view refreshes the mind...
  • #9,207
  • Dec 12, 2015 12:31pm Dec 12, 2015 12:31pm
Quoting jtrade
{quote} Copy that (although I just put an SMA(1) on the candle chart)
Nice, jtrade! That is an awesome idea. Thanks for the share.


Quoting jtrade
{quote} Copy that (although I just put an SMA(1) on the candle chart) ... but the last thing I did before closing my platform last night was add an old template with very plain OHLC bars. Sometimes a different view refreshes the mind...
I use candles for range charts, but I will often use ohlc on time series charts, e.g. 5 minute, 15 minute.
  • #9,208
  • Dec 13, 2015 6:38pm Dec 13, 2015 6:38pm
Going on a double date tomorrow with crude and an interesting market the YM (dow e mini) it moves very nice on a 133 tick chart and 1 contract trades at 5.00 a tick
  • #9,209
  • Dec 13, 2015 11:10pm Dec 13, 2015 11:10pm
Quoting Divergence
I started using candles to avoid some of the false signals so am looking at 123s to get back into to trend and I look to get 10 then if I get the 10 I put another order in at 2 pt and take the pullback to it for 20. to many false signals with the 2b 123 on line chart at this time maybe because we are at these levels don't have a clue but I need to adjust to conditions {image}
This is in my opinion by far the best type of setup presented in this thread in last few months. Top Notch D!

Have noticed different kind of spike to spike setups during trading, but haven't been able to trade them from the tip of the spike. Little by little and for sure in coming year going to take those.

Also I feel that candleceharts give all the necessary information. If the chart is messy, no point trying to make it clearer otherwise. 123's or any other setups can be seen on candles too, if they are good.
  • #9,210
  • Dec 14, 2015 12:58am Dec 14, 2015 12:58am
Quoting Divergence
Going on a double date tomorrow with crude and an interesting market the YM (dow e mini) it moves very nice on a 133 tick chart and 1 contract trades at 5.00 a tick
133 tick chart !? I had no idea you were so sophisticated

Ahoy, td
  • #9,211
  • Dec 14, 2015 1:12am Dec 14, 2015 1:12am
Quoting Divergence
Going on a double date tomorrow with crude and an interesting market the YM (dow e mini) it moves very nice on a 133 tick chart and 1 contract trades at 5.00 a tick
Welcome to the club D. YM has been good. I use the same principles to YM than to CL. Slightly bigger Ranges than in CL
  • #9,212
  • Dec 14, 2015 1:28am Dec 14, 2015 1:28am
Thanks guys for the sharing. CL has not been as rangy as it was few months ago. I find it whipsawing more when it ranges below $40. Recent times the stock index futures has been trending well. I guess for trend traders, it's the "easier" markets to trade. For me, I trade CL and ES, and will go to where the "easy" money is. Thanks Divergence, will look into YM too
  • #9,213
  • Dec 14, 2015 5:25am Dec 14, 2015 5:25am
it seems to honor s and r nicely then shoots 40 to 60 ticks
  • #9,214
  • Dec 14, 2015 6:00am Dec 14, 2015 6:00am
now long market
Become the casino
  • #9,215
  • Dec 14, 2015 6:01am Dec 14, 2015 6:01am
cl that is
Become the casino
  • #9,216
  • Dec 14, 2015 6:50am Dec 14, 2015 6:50am
my first ym trade the stock market opens at 930 so I gave it 5 minutes to let it take shape. market is down today a 123 forms so how I play it is this first trade I take 123 out of the box when it breaks point 2 and go for 10. second trade is to take a short again when it comes back to point 2 and take profit at s 1/ for 10 on first 70 on second
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  • #9,217
  • Dec 14, 2015 6:59am Dec 14, 2015 6:59am
Nicely done, H
  • #9,218
  • Edited 7:19am Dec 14, 2015 7:05am | Edited 7:19am
just did it again sold 123 for 10 then took pullback from 63 down to s 1 again for 20 more 30 more banked so far today 110 ticks. its nice that it trades at 5 dollars a point so 2 contracts or 4 contracts give you a risk of either 100 or 200. my stop is always 15 ticks. I may marry the ym she is pretty
  • #9,219
  • Dec 14, 2015 7:05am Dec 14, 2015 7:05am
great work Harold well done
Become the casino
  • #9,220
  • Dec 14, 2015 7:11am Dec 14, 2015 7:11am
got first 10 now waiting for price to come back to 17202
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