[walterw]

Here are the flips to the end of the trading day... cheers Walter.

[walterw]

Originally Posted by walterw »

Ok, at this point of this beta process I clearly made my mind about how I would handle timing for the flip trade... thought there are a lot of alternatives, I came to the conclussioin that the cci 0 line cross is the most reliable and clear signal... cheers Walter.

I want to add here the discretionary alternative that will give a more early entry signal but could have more potencial noise... I would consider using it in very slow market conditions like happened today at first hour...

Instead of taking the 0 line cross, you can enter the trade with the +-50 line cross on the desired direction: -50 from below for longs, +50 from above for shorts...

In terms of timing I think we got two clear decent alternatives to take flip trades.... cci 0 line cross or cci +-50 lines cross...

This can be monitored on the cci 14 at a 55T chart or a cci 35 on a 22T chart.... any of them will give you the same signals...

On the below example the two trades where not super trades, the market was dull, now for a scalper it worked 5 ticks each trade... wich its very good... in that case the +-50 entries would had been very competitive...

[walterw]

Hello fellow traders ¡¡ todays flips are a nice example of context considerations in terms of momentum and non-momentum conditions, we could say that flips taken on a non-mometum area have less chance of success vs flips been taken on momentum areas where the market has more chance to take some nice temperature...

today so far we had 2 clear flips, the first one happened on the mid band area wich is certainly a non-momentum area and got finally stopped....

the second one happened in the inmediations of the outerband where we can expect momentum to build up wich actually happened making a nice decent trade...

with this observation in mind it would be very recomendable to take "momentum flips" wich would happen at the outerbands area... so we keep adding this nuances to the flip aproach... feel free to interact.. cheers Walter.

[walterw]

Here I want to share a daytrader`s perspective on flips using a 1 min chart...

For today, flips where very clear.. cheers Walter.

[walterw]

for daytraders here is the last 1 min flips today... cheers Walter.

[walterw]

Today is tuesday may 15, I atach charts of most clear flip trades today...

On the first hour we almost did not get flips because they would break levels but dont come back to retest them, momentum was there...

Today I timed entries with cci 0 line cross.... My first stop idea its when we cross 0 against us... that would be a stop... cheers Walter.



PD : attached charts are russell 55 Tick with keltner exp 100, 5 atr and cci 14

[walterw]

Ok , so here we go now... let me start deliberating on exit alternatives for our flip trade... not easy, but not imposible... once we get some where with this topic and make our minds about how to exit we would probably have a nice complete decent system to trade... with a clear entry stop and exit

Alternatives ? lots...
_we can use a mathematical RRR aproach as early debated on this thread...

_we can use technicals on the price pane, maybe average cross ? why not a WRB candle ?

_we can use cci readings..

_for the more prepared they can exit with tape...

lots lots lots.... obviously each trader here may want to use their exit that fits their personality...

I clearly think that "flip" its an entry aproach itself and that the exits to apply should be individually choosen by each trader as it fits their personality...

So from here on what I am going to present will respond to MY personality and its not necesarily the best alternative...

I would expect to hear diferent alternatives to mine to see what traders are being able to come up in terms of exits for flips...


Here I will present MY exit alternative that fits my style : I like to follow CCI for my exits... they make my life a little more easy... dont forget I am left brained...

So in terms of CCI we have a series of alternatives...

let start with this point: I dont pretend to take the entire move, it doesnt hurt me to leave money on the table... what I understand that will hurt me is if I have a bad RRR ... ok ?

now most of this flip trades, just about all off them on this 55T russell chart with my stop criteria stated on the above post have given me an average stop of -5 or -6 ticks.... so going for a 5 to 8 ticks profit will put my RRR on a 1/1 to 1/1.5 RRR and here comes the fact that just about ALL succesfull flips had made it above 5 ticks moves... aha ¡¡¡

On the other side ( and I know some traders dont share this with me ) but I am a man that likes to make his 100 bucks per contract per day and enjoy life after that...

So.... you see how exit strategies are tailored acording to traders personality ?

ok, let me come back to cci... and let me make clear I am not a CCI er... was... not any more... BUT cci can do some nice decent jobs for stupid people... When CCI reaches a level you may want to say, I am done... its good enough for me and when that level happens to fit your $ expectations for the day together with a good RRR relationship with my stops... well good ¡¡ I am out... could had made a 100 bucks more ? who cares ? it met my expectations.... I am happy and ever after...

so CCI hook from extreme HFE can be one... +-100 recross other... and for the machos recross of 0 line...

again I say : thats what makes ME happy...

On the example from today, you can see two trades that delivered +6 ticks each... and then the market moved 30 ticks more... insane ¡¡¡ why did you get out ¡¡... well let me tell you, I, me, Walter did not know that super move was ahead... it could perfectly not happened... but I, me, Walter made my 100 bucks... so again... no frustration.... It worked swift, made my day I am not trying to catch fantastic moves that may never come...

so my exit strategy really really fits my personallity... would love to hear yours ¡¡ cheers Walter.

[walterw]

So here I post todays flips... they had left a decent performance today and must confess since flip I am following the entire session.... mmmm

Would love to hear some feedback if some one is still following this simple aproach, could you share your experience some charts... etc .. also how are you dealing with exits.... cheers Walter.