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Flag trading the trend

  • #9,281
  • Dec 19, 2015 6:47pm Dec 19, 2015 6:47pm
Quoting ddaytrader
{quote} But that is the exception, not the norm. There are times that the Dow's range will contract for long periods of time into a 100 tick or less range. {quote} ZB is another where trading four contracts and taking 3, 5, and 8 tick scale outs with the last lot left on for a possible runner works for me. It is market that exhibits some very recognizable and regularly repeating behaviors. A week or two of watching and observing it prior to actually trying to trade it will cut the 10000 hour thing down to about 20 to 40.
I look back on daily with at and you would have to go back 1 yr for a range of 100 since then 145 has been the lowest
  • #9,282
  • Dec 19, 2015 9:48pm Dec 19, 2015 9:48pm
Quoting Divergence
{quote} I look back on daily with at and you would have to go back 1 yr for a range of 100 since then 145 has been the lowest
I use the ATR during RTH. Unless you are trading 24 hours/day, you will see range contraction during the US hours of 9:30 to 4 PM EST.
  • #9,283
  • Dec 20, 2015 9:55am Dec 20, 2015 9:55am
Quoting ddaytrader
{quote} I use the ATR during RTH. Unless you are trading 24 hours/day, you will see range contraction during the US hours of 9:30 to 4 PM EST.
my point is there's still plenty of room to make 50 + ticks a day and at 2 lots 500 a day
  • #9,284
  • Dec 20, 2015 10:48am Dec 20, 2015 10:48am
Glad to finaly find your thread...I've been trading both oil and the dow without that 1 2 3....cool thread.....

I see the action differently when doing a 1 2 3 break.....and a 1 2 3 trick would clobber it

also the bear flags seem to pivot off the .618 mark for a trick style 1 2 3.
  • #9,285
  • Dec 20, 2015 11:16am Dec 20, 2015 11:16am
I was trading crude up until this week when I switched to dow e mini. When it trends it trends hard all there is to do is trade the pullbacks
  • #9,286
  • Edited 11:56am Dec 20, 2015 11:21am | Edited 11:56am
Quoting ddaytrader
{quote} My two main traders have been the ZB (30 yr bond futures) and the YM. Today was a nice day for me on the YM as well: 114 ticks. She's thin, and I get a bit of slippage, especially when trading multiple contracts, but its all good in the end. I use 10 tick chart on YM, 6 tick on ZB, and I trade them based on the 5 minute price activity. Nice trading, Divergence. {image}

I just noticed on your Dom 114 and just realized since this is traded at 5.00 technically that's 57 ticks. Since i trade 2 lots and I said I made 74 it records it at 148. So let's use the actual ticks made on trade as reference and if someone is trading more than 2 well they made more
  • #9,287
  • Dec 20, 2015 12:31pm Dec 20, 2015 12:31pm
Quoting Divergence
{quote} I just noticed on your Dom 114 and just realized since this is traded at 5.00 technically that's 57 ticks.
I traded a one lot all day Friday, so it was 114. Had most of my account tied up in ZB.


50 ticks/day avg is doable. I just find that that means one day I'll get 75 and the next day only 20. Always best to take what the market is offering rather than trying too hard to get what you want. All part of being in the zone, imo.
  • #9,288
  • Dec 20, 2015 1:02pm Dec 20, 2015 1:02pm
I agree you can only take what it gives or else your gambling
  • #9,289
  • Dec 21, 2015 8:07am Dec 21, 2015 8:07am
wait for trend then trade pullbacks
  • #9,290
  • Dec 21, 2015 8:48am Dec 21, 2015 8:48am
43 short for 21 ticks
  • #9,291
  • Dec 21, 2015 8:55am Dec 21, 2015 8:55am
-13 from 54
  • #9,292
  • Dec 21, 2015 9:28am Dec 21, 2015 9:28am
apparently no news and Christmas week results in a chart that looks like the one we are looking at so maybe just play s and r and scalp
  • #9,293
  • Dec 21, 2015 9:35am Dec 21, 2015 9:35am
Quoting Divergence
apparently no news and Christmas week results in a chart that looks like the one we are looking at so maybe just play s and r and scalp
Similar to Friday's opening coil/wedge. Need a breakout to set a trend for the day, imo.
Attached Image (click to enlarge)
Click to Enlarge Name: opening range coil.JPG Size: 88 KB
  • #9,294
  • Dec 21, 2015 9:43am Dec 21, 2015 9:43am
Quoting ddaytrader
{quote} Similar to Friday's opening coil/wedge. Need a breakout to set a trend for the day, imo. {image}
In my experience, the closer to the end of the coil itbreaks out, the less reliable the breakout can be; and if it just sort of dribbles along past the end, then the day could just chop most of the afternoon.
  • #9,295
  • Dec 21, 2015 9:50am Dec 21, 2015 9:50am
Quoting ddaytrader
{quote} Similar to Friday's opening coil/wedge. Need a breakout to set a trend for the day, imo. {image}
Short break trade
Attached Image
  • #9,296
  • Dec 21, 2015 9:53am Dec 21, 2015 9:53am
Quoting ddaytrader
{quote} Short break trade {image}
Testing low of RTH session. Break below and hold would make for a target of 17050's and then Friday's low. My position is short, my stop and targets are in, and I am going out. This trade is in God's hands now.
Attached Image (click to enlarge)
Click to Enlarge Name: opening range coil. short break lod test.JPG Size: 56 KB
  • #9,297
  • Dec 21, 2015 10:03am Dec 21, 2015 10:03am
Quoting Divergence
wait for trend then trade pullbacks
Sorry D. What do you mean by tradinf pullback? Trade based on candle pattern such as a doji?
  • #9,298
  • Dec 21, 2015 10:12am Dec 21, 2015 10:12am
was able to catch 20 from 23 short and that's about it 28 on the day
  • #9,299
  • Dec 21, 2015 10:21am Dec 21, 2015 10:21am
Quoting specul8r
{quote} Sorry D. What do you mean by tradinf pullback? Trade based on candle pattern such as a doji?
when trend is establish and price pullsback we look for setup to go short I take first pullback when trend starts and then take second pullbacks which is the double move back
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 175 KB
  • #9,300
  • Dec 21, 2015 10:25am Dec 21, 2015 10:25am
Quoting Divergence
{quote}when trend is establish and price pullsback we look for setup to go short I take first pullback when trend starts and then take second pullbacks which is the double move back {image}
Thanks D
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