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Flag trading the trend

  • #9,601
  • Jan 18, 2016 11:16am Jan 18, 2016 11:16am
Quoting tdforex
Hi All! Have been reading the thread on January after the Christmas break and hooray, how great posts. Big thumbs up D, DD, jtrade (Zappa is always good and all others. So inspiring posts about the essential elements of trading: focus, defined edge (through own research/modification), trade the plan, psychological aspects, long term perspective and position sizing and risk management. Starting my own trading also again this week for year 2016
Nice to meet you tdforex! May this be a profitable year for you (and all of us)!
  • #9,602
  • Jan 18, 2016 11:20am Jan 18, 2016 11:20am
Quoting jtrade
where do I want to get with my trading in the next couple of years (regardless of whether or not I actually get there)?
Step One: Visualize your success as the trader you want to be.

Step Two: Actualize what you have visualized.

Inserted Video
  • #9,603
  • Jan 18, 2016 11:29am Jan 18, 2016 11:29am
I have no problem catching the beginning of a trend and holding and locking in original target. It's just not in my trading plan though 1 day it might or might not. Still nice idea
  • #9,604
  • Jan 18, 2016 11:35am Jan 18, 2016 11:35am
Quoting ddaytrader
{quote} Step One: Visualize your success as the trader you want to be. Step Two: Actualize what you have visualized. https://www.youtube.com/watch?v=h5SNAluOj6U
once you have done these 2 steps get to work mastering at least 1 setup
  • #9,605
  • Jan 18, 2016 12:06pm Jan 18, 2016 12:06pm
I have now seen many of these similar set-ups today. Watching such small timescales may not suit everyone, but it still has the same 1:1 or better R:R, even when factoring in the spread.

I now have my plan complete. This is what this thread has been all about. High probability set-ups with simplicity.

Again a winner. Simple HH/HL combo, with the low being very close to the previous turn. A 123 (which i have reverted to labelling point 1 as the low - i prefer it that way), trade the entry with stop below point 3 and exit on a fresh HH;

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd123.png Size: 115 KB
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  • #9,606
  • Jan 18, 2016 12:12pm Jan 18, 2016 12:12pm
Very nice setup. The macd is a nice momentum indy to confirm the setup. I use it with the 2b (broken 123 pattern)also
  • #9,607
  • Jan 18, 2016 12:14pm Jan 18, 2016 12:14pm
Hey CG put same chart up except change it to line chart
  • #9,608
  • Jan 18, 2016 1:02pm Jan 18, 2016 1:02pm
I encourage all to examine the e mini dow (YM) market. Very good daily range for day trading and the fastest 30 ticks you will ever get per trade.
  • #9,609
  • Jan 18, 2016 1:12pm Jan 18, 2016 1:12pm
The line chart makes the pullback even smaller;

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd123a.png Size: 147 KB


There was a build up of positive divergence on MACD at the turn. I hadn't actually posted it originally.
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  • #9,610
  • Jan 18, 2016 1:16pm Jan 18, 2016 1:16pm
It smoothes out PA try using tick charts set to line chart smoothes it out more and maybe more setups
  • #9,611
  • Jan 18, 2016 8:01pm Jan 18, 2016 8:01pm
Quoting ddaytrader
5 points off the ORB short today. That gives me enough margin that I can trade 2 contracts and withstand 3 losses in a row without having to reduce size. If I trade tomorrow, I will stick with one contract. No trading on Monday (for me at least - as I understand it, the ES futures trade until noon but the market itself is closed). Next week I will increase size to 2 contracts. This week Gross Profit is 24.75 ES points, and the net profit is 22.50 Points, or 5 5/8 points per day. I have to keep reminding myself that the purpose of this experiment...

Al Brooks webinars are terrific, showing how he used only his interpretation of Price Action and minimal indicator to trade.

Have his 1st book on "Reading Price Charts Bar By Bar", very difficult to read.
He has come out with 3 newer books that breaks down the first book, so the 3 books should be a better option than 1st book as the charts are bigger with expanded sections.

Al Brooks internet course that basically show webinars is the best option, compared to his books.
I have gone through his internet course and it is much easier to understand, no fluff and no B.S., definite can recommend it.
And his internet course is good, and cheap (around US$250 at purchased time) as well when comparing to other courses.
  • #9,612
  • Jan 18, 2016 11:35pm Jan 18, 2016 11:35pm
Quoting The Cableguy
The line chart makes the pullback even smaller; {image} There was a build up of positive divergence on MACD at the turn. I hadn't actually posted it originally.
Very nice charts, CG.... but what're those little parabolic dots there for ..

Edit : I only notice & ask 'cos about twice every year I put parabolics on, think "great", then take them off 3 days later.... they are my "Groundhog Day" indicator !
  • #9,613
  • Jan 18, 2016 11:44pm Jan 18, 2016 11:44pm
Hi guys!

Just wanted to drop by and say that I find the thread to be though-provoking! Some great conversations between great traders, I am looking forward each day to read the posts, despite the fact that I don't actually trade the methods.

Thank you and keep up the good work, I learned a lot
Invincibility lies in the defence; the possibility of victory in the attack
  • #9,614
  • Jan 19, 2016 12:21am Jan 19, 2016 12:21am
ES trade setup #1... a fine example of the saying "Don't be a dick for a tick", my having set my Stop Limit to -1, ie. it will only fill on a tick back (which usually happens with thinner markets, but perhaps less with ES). No fill and straight to t1 of 2 points, also my stop to b/e+1 point.

F O C U S (as in the acronym starting with "Follow")

Attached Image (click to enlarge)
Click to Enlarge Name: smarty pants.PNG Size: 45 KB
  • #9,615
  • Jan 19, 2016 1:10am Jan 19, 2016 1:10am
Quoting jtrade
{quote} Very nice charts, CG.... but what're those little parabolic dots there for .. Edit : I only notice & ask 'cos about twice every year I put parabolics on, think "great", then take them off 3 days later.... they are my "Groundhog Day" indicator !


Hi JT, long time, no speak!

Yeh, we can ignore the parabolic. They are remnants of something i was trying previously and i have been loathe to remove them. I merely have them on the charts now to test using them as a type of trailing stop, once initial targets are reached, (why stop there if the trend is strong?!), they do give an early warning of trend change.

However, this system is so simple, i could trade it with no indicators whatsoever. The MACD. i do find useful though. It is a lag indicator of course and a 123 trigger occurs beyond the point of initial trend change, so MACD is usually already crossed by time of trigger bar, but where the MACD really helps, i find, is when divergence has formed. My fave being 'Hidden div' to help confirm (back to) trend continuance.
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  • #9,616
  • Jan 19, 2016 3:15am Jan 19, 2016 3:15am
This morning's gift. DAX 15 second chart. Everything fairly self explanatory. i think;

Attached Image (click to enlarge)
Click to Enlarge Name: dax15s123.png Size: 134 KB


*Edit forgive the HL second peak - obviously should be labelled LH!*
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  • #9,617
  • Jan 19, 2016 3:30am Jan 19, 2016 3:30am
Quoting foxybunny
{quote} Al Brooks webinars are terrific, showing how he used only his interpretation of Price Action and minimal indicator to trade. Have his 1st book on "Reading Price Charts Bar By Bar", very difficult to read. He has come out with 3 newer books that breaks down the first book, so the 3 books should be a better option than 1st book as the charts are bigger with expanded sections. Al Brooks internet course that basically show webinars is the best option, compared to his books. I have gone through his internet course and it is much easier to understand,...
His first book is fine once you get to pages 115 to 120 or something like that - counting legs in a trend and counting bars. Why he didn't think to put tat first is beyond me. But read those sections, then start the book all over and it is a different book.

I agree, his trading course is excellent, in my opinion.
  • #9,618
  • Jan 19, 2016 3:44am Jan 19, 2016 3:44am
Unfortunately, i can't claim this one, as i was away from the screen, but look at the similarity to the last set-up! I love it when it trends like this according to EW;

Attached Image (click to enlarge)
Click to Enlarge Name: dax15s123a.png Size: 124 KB


This would be the argument for taking the 123 on trigger. 3rd waves don't usually wait around for anyone, so no chance to get in on a retest. Just let the beauty run straight to target!
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  • #9,619
  • Jan 19, 2016 5:54am Jan 19, 2016 5:54am
Very slow movement so far in both markets cl is in H month
  • #9,620
  • Jan 19, 2016 6:04am Jan 19, 2016 6:04am
Just had an old friend around who's recently retired & interested in trading. I was explaining a 2b pattern and looked at the current ES chart & was surprised at how many there were in the 2 hour period we were looking at :
Attached Image (click to enlarge)
Click to Enlarge Name: 2b.PNG Size: 38 KB


Incidentally, H, your girl was also in great form this morning.
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