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 1 Min THV Flag Trading

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mary



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Join date : 2011-04-12

PostSubject: 1 Min THV Flag Trading   Sat May 28, 2011 2:36 pm

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1 Min THV Flag Trading

This is a compilation of a few threads
and countless of hours of programing by many other individuals.
Especially Cobras THV thread. The other thread is Flag Trading the Trend
by Divergence. I've combined the aspects of these two threads with a
Doda Donchian Channel. This will not be an ongoing thread. It's simply
my trading sytem and style and wanted to share. I dont have time to
answer alot of questions. Will there be losers yes but there will be
many more winners. Trade consistently with lot size and follow rules.
Sound money management is a must. For you to win someone else must lose
money.

In no way am I trying to take credit for anyone else's hard work. I Have
been studying and listening and winning and losing money. These are my
best odds of winning in forex. Due to time constraints i'm on the 1
minute chart. Trade times US 8-12 EST and London 2-6 am EST. I set Buy
and Sell stop orders with entry off the Donchian Channels, my Stop loss
determines my Take Profit with a 1 to 1 Reward risk ratio.
I let the market enter my trade and let it determine my outcome. When I
get involved my emotions, feelings, intuition screw me up.
To learn more about the indicators go to Cobras THV Thread. I also suggest reading Flag Trading the Trend thread also.

I've posted 3 trades from today with rules. I was in the market for a
total of 9 minutes for 30 pips today. I have an alert that calls me when
conditions are right and I head to my pc. Tired of staring at candles
for 12 hours a day. But I think of it as going through boot camp for the
last 2 years. Lost plenty of money in beginning but slowly gained it
back. One thing I learned when in profit stay in profit. Break even is
better then a loss and another trade will come along.

Rules
1. Trend change
2. Unity 5,15,30,60 Min TF
3. Retrace or Flag from Donchian Channel
4. Set Buy Stop at Upper Channel
5. Set SL at low of retrace
6. Optional Set TP at 1 to 1 reward to risk ratio minus spread or TP at first Candle color change

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mary



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PostSubject: Re: 1 Min THV Flag Trading   Sat May 28, 2011 2:37 pm

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I marked third trade but didn't take due to still in 2nd trade

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mary



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PostSubject: Re: 1 Min THV Flag Trading   Sat May 28, 2011 2:37 pm

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Once I have 10 pips or higher I get itchy finger. 12.3 pips profit

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mary



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PostSubject: Re: 1 Min THV Flag Trading   Sat May 28, 2011 2:39 pm

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I have Script set and waiting for another turn up preset lot of .3 and SL and TP of 12.5 pips













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Market lost momentum. Price usually
shoots through donchian channel. Price Bounced of of resistance MR3. Im
usually in trade less then 5 minute I got back to even and closed. Was
posting and didn't get to script set and got in 3 pips late and .5 lot
which i trade same lot of .3 consistently. While this is high
probability trading. You must read up on threads Cobra THV. Support and
Resistance. Money Management.
Psychology of trading.

Demo Trade then make decision.
Never go live until your confident of what your doing. Or you'll make
bad decisions like i did in the beginning. I bailed on winning trades
and hung in with the losing trades hoping, wishing, they would turn
around.













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15.2 pips













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1st trade 12.4 pips
2nd trade .5 pips
3rd trade 15.2 pips













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Nice system! Here's my first day: Should
have bailed out on that first trade sooner, resulted in -12. Second
worked out better, was in drawdown for a while, and should have taken
profit at MR1, but held on. When it hit MR1 a fourth time, I was about
to close but by then two red dots had appeared on the H1 slow, so I
decided to let it ride. Went down to the daily pivot, where I closed for
+41 pips. Trade entries are marked with a check, exits with a X. Could
you mark where your entries and exits are?













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I marked trades, hope this helps. Your
second trade was a little early 4 me but you hung in there. My entries
are usually right on the donchian line. Second trade was late, I didn't
get buy script set in time and got in 3 pips late













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PostSubject: Re: 1 Min THV Flag Trading   Today at 7:22 pm

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