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Flag trading the trend

  • #9,361
  • Jan 4, 2016 2:47pm Jan 4, 2016 2:47pm
For the trade 2 in the picture above, how often does it happen to you that the price would not actually create 123? The price pulled back, you would short at 61 but candle could still close higher (ie 123 would not be created if you just have 123 using the simple moving average with period of 1)
  • #9,362
  • Jan 4, 2016 2:50pm Jan 4, 2016 2:50pm
Quoting Divergence
was able to grab 17 more from hat at 86 short not bad made 60 ticks today or 120 with 2 contracts. there was plenty to get today unfortunately I would have needed multiple strategies to get in. I also missed a short pullback entry at 03 by 1 tick or I would have cleaned up
for the hat trade, you entered on the first candle after number 3 on it, right?
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  • #9,363
  • Jan 4, 2016 2:53pm Jan 4, 2016 2:53pm
Quoting Divergence
was able to grab 17 more from hat at 86 short not bad made 60 ticks today or 120 with 2 contracts. there was plenty to get today unfortunately I would have needed multiple strategies to get in. I also missed a short pullback entry at 03 by 1 tick or I would have cleaned up
you mentioned that you have missed short entry at 03 which is marked with number 5 on my picture. any reason why not enter at point 4 on my picture?

Also I marked point 6 there but I presume that pullback was too shallow, right?

Many thanks for posting your trades again!
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  • #9,364
  • Jan 4, 2016 4:14pm Jan 4, 2016 4:14pm
hopefully these charts will explain questions
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  • #9,365
  • Jan 5, 2016 4:57am Jan 5, 2016 4:57am
Nice charts, H .

First live trades of the year today (should have started yesterday which was a perfect morning...), I had a b/e +1 long off the LO, then missed the main down move, then finally had a winning short for a little over 3R.

My goal for 2016 is CONSISTENT MONTHLY RESULTS in money, not pips, ticks, percentages or even R values... I know H is with me on this one (when was the last time anyone bought some groceries with percentage points ?). I have a specific goal to average = or > 1R / trading day. I expect to spend less than 90 minutes a day in front of my trading screen (of course, there will be exceptions, including this morning).

Here's the trade this morning. Those familiar with my charts know that I have a whole pile of NinjaTrader templates accumulated over many years, which I change with alarming frequency to suit my mood, refresh my view & pander to my insecurities : they are meaningless, so don't ask.

However, what is meaningful is simply : trade pullbacks in trend, rinse, repeat.

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  • #9,366
  • Jan 5, 2016 6:00am Jan 5, 2016 6:00am
I agree JT it's all about the greenbacks.
  • #9,367
  • Jan 5, 2016 6:55am Jan 5, 2016 6:55am
Quoting jtrade
My goal for 2016 is CONSISTENT MONTHLY RESULTS in money, not pips, ticks, percentages or even R values ... I have a specific goal to average = or > 1R / trading day. I expect to spend less than 90 minutes a day in front of my trading screen (of course, there will be exceptions, including this morning).


Quoting jtrade
Those familiar with my charts know that I have a whole pile of NinjaTrader templates accumulated over many years, which I change with alarming frequency to suit my mood, refresh my view & pander to my insecurities : they are meaningless, so don't ask. However, what is meaningful is simply : trade pullbacks in trend, rinse, repeat.
Awesome jtrade! I love to see a trader with a plan.

For 2016, I have added an additional goal to my trading activities. I have this little $2k futures account with which I've done basically nothing of any note. In the past I've toyed with the idea of putting together an aggressive plan to trade that little account to see if I couldn't run it up to something significant - not millions and millions, mind you, but perhaps thousands, or even hundreds of thousands. So for 2016, my goal is to set to trading that little side account along with my other activities, and to run it up to $200,000 in accumulated ES profits over the next two years. To do this, I would like to average 4 points net profit per day per contract traded. Yesterday was day 1, and I netted out 4.67 points out of 5.25 points gross profit.

Here's to each and everyone of us meeting and exceeding our 2016 goals. And here is to each one of us sticking to our trading plans with discipline, and for those without a trading plan to develop one successfully that will let him or her meet with his/her goals!

Thanks again to divergence for this great thread!
  • #9,368
  • Jan 5, 2016 7:25am Jan 5, 2016 7:25am
Quoting ddaytrader
{quote} {quote} Awesome jtrade! I love to see a trader with a plan. For 2016, I have added an additional goal to my trading activities. I have this little $2k futures account with which I've done basically nothing of any note. In the past I've toyed with the idea of putting together an aggressive plan to trade that little account to see if I couldn't run it up to something significant - not millions and millions, mind you, but perhaps thousands, or even hundreds of thousands. So for 2016, my goal is to set to trading that little side account along...
a person without a plan will always end up losing. DD that's a very realistic goal 4 points in the es equates to 16 tick or 200 with 1 contract. my goal had always been the same to make between 500 to 1000 dollars a day 4 days a week
  • #9,369
  • Jan 5, 2016 7:40am Jan 5, 2016 7:40am
I have also added back the crude if there is a set up I will take it. using the old 1113 tick chart I used over a year ago same setups. no reason not it should increase earnings
  • #9,370
  • Jan 5, 2016 8:02am Jan 5, 2016 8:02am
nice hat short on crude from 74
  • #9,371
  • Jan 5, 2016 8:08am Jan 5, 2016 8:08am
first trade very nice 40 ticks with 2 contracts nothing like the 7 minute trade
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  • #9,372
  • Jan 5, 2016 8:14am Jan 5, 2016 8:14am
stop to BE resistence into support trade from 49 in crude
  • #9,373
  • Jan 5, 2016 8:21am Jan 5, 2016 8:21am
just grabbed 30 more with 2 contracts done with crude for today now ill focus on YM. so 70 ticks with 2 contracts I already surpassed my goal this was a good idea to add crude back in the mix
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  • #9,374
  • Jan 5, 2016 8:35am Jan 5, 2016 8:35am
I will short 86 on the pullback
  • #9,375
  • Jan 5, 2016 8:36am Jan 5, 2016 8:36am
stop to BE
  • #9,376
  • Jan 5, 2016 8:36am Jan 5, 2016 8:36am
+1
  • #9,377
  • Jan 5, 2016 8:39am Jan 5, 2016 8:39am
now 76 short
  • #9,378
  • Jan 5, 2016 9:04am Jan 5, 2016 9:04am
shorted ym from 70 after it broke and pulledback for 34 more freakin unbelieveable day
  • #9,379
  • Jan 5, 2016 9:17am Jan 5, 2016 9:17am
Quoting ddaytrader
To do this, I would like to average 4 points net profit per day per contract traded. Yesterday was day 1, and I netted out 4.67 points out of 5.25 points gross profit.

Here's to each and everyone of us meeting and exceeding our 2016 goals. And here is to each one of us sticking to our trading plans with discipline, and for those without a trading plan to develop one successfully that will let him or her meet with his/her goals! Thanks again to divergence for this great thread!
Yes, dd, it is indeed a great thread.

Averaging 4 points a day per contract on the ES would be outstanding - please keep us informed of progress ! With such huge liquidity, it opens up the possibility to trade real size as & when the account permits.

I keep reminding myself, "You don't have to make a lot, to make a lot"...
  • #9,380
  • Jan 5, 2016 9:50am Jan 5, 2016 9:50am
Quoting jtrade
{quote} Yes, dd, it is indeed a great thread. Averaging 4 points a day per contract on the ES would be outstanding - please keep us informed of progress!
I'm calling it quits for my little account right here. My two day total is a net of 8.06 ES points for $403.26 and a balance of $2403 and change.

Quoting jtrade
With such huge liquidity, it opens up the possibility to trade real size as & when the account permits.
Right now my plan is to trade one contract per $1500 in available margin. So I will do one lot until balance is > $3k, add a third at $4.5K, etc. Max compounding will likely be 20 contracts, which will occur when the balance is >$30K.

Quoting jtrade
I keep reminding myself, "You don't have to make a lot, to make a lot"...
All you need is a plan built around a price action edge and the courage, strength, determination, and discipline to follow it. And by saying "all" I do not mean to minimize how difficult it can be to identify an edge, build a plan, and muster the personal resources necessary to put it in action. I struggled for many years trying to put it all together. I still work on keeping it all together. An old emini trader by the name of Dick Diamond, who sadly has passed away, would tell his students the following:


"You must get in and get out. This is not about making a lot of money on an individual trade. If you made a thousand trades in a year -- which is very attainable -- and didn't make any trades winning over 2 or 3 points, you would make a very nice living for yourself. I'd expect you to probably do even a little bit better. But I'm telling you, it's not about making a lot of money on one trade. All you want to do is have successful trades. It takes discipline to wait for the right time. Get in, and get the [heck] out of the way."
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