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 8-11:30 EST and London 3-6 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 Order at Upper or Lower Channel
5. Set SL at high or low of retrace
6. Optional Set TP at 1 to 1 reward to risk ratio minus spread or TP at first Candle color change

Everything in zip file in Appropriate folders

2 original and new early entry template
Please read up on woodie CCI and patterns for entries.
The original system is still good if not better then early entry. Use caution on early entries.

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

Thanks for sharing. However, IMHO that's a rather busy chart you got there with redundancies that could be omitted, don't you think?

Marked 5 Trades didn't take first trade due to no new lower low but had new lower high. Within trade times and had Unity with 5,15,30,60 min TF. Didn't take 3rd trade either it didn't break Donchian channel and 5 min TF changed

Hi Jtee1,

your system looks very interesting, thanks for sharing. Can you post also your indicators set and a template?

Thanks

Indicators

hi, JTee1.

thx for sharing.

what are these arrows in the chart, they are extremely accurate, do you put them by hand? coz they don´t appears in my chart after install all the indis and templates.

bye.

These are a zig zag indicator and only help me count the waves in a trend the current arrow constantly repaints, until a good move the opposite way.

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

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

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.

15.2 pips

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

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?

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

You take the trade as PA crosses an extension of the Donchian line?

Great work, amazing system... Thank you very much for sharing. The signals seem to be very accurate, I can't believe my eyes!

Best wishes to you!

Yes Delage once price retraces I have a script that i set for buy or sell stop right at the donchian extension. It eliminates draw down.It's a drag and drop script.

Well, I'll be darned. I'll try in out. Thanks.

tq sharing...