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Flag trading the trend

  • #9,861
  • Jan 29, 2016 10:26am Jan 29, 2016 10:26am
Quoting Divergence
my favorite CG is the one 123/2b to me its just a 123 HH HL not a HH nor a LL and its those that get me the 15 and pb to pt2 and get me the rest

I think in my top chart, the bottom right diagram is your 2b set-up? As you say, break of last low, short for 10/15, then go again on retest for the real drop...

If it does not come back for retest, at least you took some points! Superb!
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #9,862
  • Jan 29, 2016 10:30am Jan 29, 2016 10:30am
the key is making those 75 ticks a day. so lets lower the bar and make is 45 ticks a day which to me is a 123 break for +15 and a pb for +30 and done or other variants to get 45. so 45 a day id 180 ticks a week with 1 contract is 900 week 2 do it again for another 900 so now acct is at 2800. say we do it 1 more time at 1 contract so after 3 weeks acct is at 3700 now go to 2 contracts. so that's 1800 for that week and by months end acct now at 5500. do it one more time at 2 ( I only keep 5000 in my acct and draw profit out each month) and acct is at7300. now go to 3 contracts and weekly profit is 2700 or 10800 a month so by month 10 100000 will be reached
  • #9,863
  • Jan 29, 2016 10:39am Jan 29, 2016 10:39am
Quoting erasmus66
here's revised chart for the day: {image}
don't know why your first 2 trades were +1 entry was 20 it went to 35 for 15 then connected on pb for the rest also you missed a 123 long around 1000
  • #9,864
  • Jan 29, 2016 10:52am Jan 29, 2016 10:52am
Great stuff all. Happy weekends!
  • #9,865
  • Jan 29, 2016 11:04am Jan 29, 2016 11:04am
Harold, just for you! Earlier i mentioned that i use EW loosely to help with determining trend change. I need the powerful wave 3 to overcook the MACD strength and thus when wave 5 makes a fresh HH, it creates ND in the process. I also stated that i use fibs to back up wave counts. One thing EW taught me was that it was virtually useless without confirming counts with the aid of common fib levels...

This has little to do with this thread other than it leads onto a H&S reversal, however it is interesting nonetheless. It will always be something that i look for to try to predict what comes next!

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp5w.png Size: 145 KB
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  • #9,866
  • Jan 29, 2016 12:14pm Jan 29, 2016 12:14pm
I posted all instructions on how I trade YM on post # 1
  • #9,867
  • Jan 29, 2016 12:58pm Jan 29, 2016 12:58pm
Quoting Divergence
{quote}don't know why your first 2 trades were +1 entry was 20 it went to 35 for 15 then connected on pb for the rest also you missed a 123 long around 1000
yes you're right Harold .. my fault still getting used to ym apologies

have great weekend all .. i'll be backtesting haha
Become the casino
  • #9,868
  • Jan 29, 2016 1:00pm Jan 29, 2016 1:00pm
Quoting Divergence
so last week I made 605 ticks with 2 contracts and this week did 449 ticks with 3 contracts (no partial fills) and by adding 1 contract which is just a 75 dollar increase in risk it generated me $700 more .The less is more principle in effect
unbelievable well done
Become the casino
  • #9,869
  • Jan 29, 2016 2:01pm Jan 29, 2016 2:01pm
Quoting erasmus66
have great weekend all .. i'll be backtesting haha
You too, 'ras - but why not trade live in sim & keep monitoring your % correct stat ? I have the impression you've backtested this to kingdom come already... when you have a good, positive month, go live. This way you hone the absolutely essential execution skills needed for success... we are trading fast charts here and it's easy to screw up (as I well know) !
  • #9,870
  • Jan 29, 2016 2:06pm Jan 29, 2016 2:06pm
Quoting Divergence
The only other trade is days high or low if it breaks we wait for 2 line closes below low of day or high of day but macd must be in that direction on 999 tick chart. once 2 closes happen we set limit order to buy or sell at the price of high or low of day then manage trade.
Maybe it's because it's past my bedtime & I haven't had my hot cocoa, but I have no idea what you're talking about...please clarify (& if you're gone for the day, I'll probably understand when I reread the above in the morning)...

Goodnight
  • #9,871
  • Jan 29, 2016 2:33pm Jan 29, 2016 2:33pm
Quoting jtrade
{quote} Maybe it's because it's past my bedtime & I haven't had my hot cocoa, but I have no idea what you're talking about...please clarify (& if you're gone for the day, I'll probably understand when I reread the above in the morning)... Goodnight
when price takes out low of the day I wait to it closes 2 times below and trade the pb to the low of the day that was taken out. same goes for high of the day. its a resistance turning into support trade. make sure the macd is going in that direction though it probably will 99% of the time
  • #9,872
  • Jan 29, 2016 3:51pm Jan 29, 2016 3:51pm
Quoting Divergence
the key is making those 75 ticks a day. so lets lower the bar and make is 45 ticks a day which to me is a 123 break for +15 and a pb for +30 and done or other variants to get 45. so 45 a day id 180 ticks a week with 1 contract is 900 week 2 do it again for another 900 so now acct is at 2800. say we do it 1 more time at 1 contract so after 3 weeks acct is at 3700 now go to 2 contracts. so that's 1800 for that week and by months end acct now at 5500. do it one more time at 2 ( I only keep 5000 in my acct and draw profit out each month) and acct is...
Good stuff, as always, D.!

I will be low profile or absent from the thread this coming week. I'll be working on putting the above into a trading plan for me and the exponential project and I need to focus. Yesterday and this morning I found myself out of synch a bit too often as I would be taking screen shots, posting, ect. I need to focus on trading only during the AM this week. "YM in the AM" shall be my slogan. And this will be my theme song (it deserves another posting):

Inserted Video
  • #9,873
  • Jan 29, 2016 4:27pm Jan 29, 2016 4:27pm
DD TRADE first post after so there won't be any distractions. I like that slogan YM in the AM
  • #9,874
  • Jan 29, 2016 8:40pm Jan 29, 2016 8:40pm
Quoting Divergence
DD TRADE first post after so there won't be any distractions.
I agree. Trade first, post later. Produce, then talk shop. But produce first.

YM in the AM

or should it be written YM in the AM™

Have a great weekend, D and everyone!
  • #9,875
  • Jan 29, 2016 10:29pm Jan 29, 2016 10:29pm
Quoting Divergence
{quote}when price takes out low of the day I wait to it closes 2 times below and trade the pb to the low of the day that was taken out. same goes for high of the day. its a resistance turning into support trade. make sure the macd is going in that direction though it probably will 99% of the time
Capisco.

I thought you liked 2b reversals from lows & highs - maybe just swing lows and highs (?) - but what you're saying here is, for example, low of the day support breaks @ 16000, two closes down to 15880 & we now have 16000 as resistance, price retraces to our waiting short Limit order at 16000 > Boom Chicago we are short....

... however, if in doing the above the pattern coming back to 16000 formed a 2b, I'd exercise caution, although I have to say I like the concept...

Will monitor next week (& please remember, I also will not be around much).
  • #9,876
  • Jan 31, 2016 8:01pm Jan 31, 2016 8:01pm
Quoting jtrade
{quote} & please remember, I also will not be around much).
I'll also be reducing my posting this week. My focus this week is trading YM in the AM scalping D's line on close style and intraday swing trading the ES from S/R.

Here is to a profitable and productive week for all!
  • #9,877
  • Feb 1, 2016 3:16am Feb 1, 2016 3:16am
Early bird YM trading. Tried European hours and no prob. Of course, not so many setups, but ok. Had 3 be+1 and 3 wins, 0(?) losses. 44 net ticks.

Per Divergences idea, parlay your wins and play wit OPM, it should be very relaxed to take few trades after NY open today. I think I am past my previous mindset of protect your wins, which was holding me back.

Happy trading all!
  • #9,878
  • Feb 1, 2016 5:06am Feb 1, 2016 5:06am
Have to say, that this break of daily low, two closes under and limitentry to the direction of trade is nice.

I took this pic with candelbars so the break and two closes are visible.
Attached Image
  • #9,879
  • Feb 1, 2016 5:29am Feb 1, 2016 5:29am
its a new day a new month and I am feeling GOOD! Let the games begin
  • #9,880
  • Feb 1, 2016 6:21am Feb 1, 2016 6:21am
10 minutes to market opens it looks like for now we will be looking for longs
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