The "Flip" Trade (support and resistance changing roles)

[walterw 10]

Hello my dear fellow traders, today is june 18 and the week starts nice and slowly so far... market is not in any momentum stage yet, but flips are coming in nice and gently... lately I am following and trading YM... its more gentle on its moves and it has a very nice range to make my 60 bucks for the day per contract...

 

I attach my first two flips today, one was a scrach and the second one worked like a charm... I also attach 22T chart with "very specific timing" using the exact indicators from the 55T chart... cheers Walter.

[Don4 10]

walter, the second trade was a beauty!!!

[walterw 10]

walter, the second trade was a beauty!!!

 

 

Absolutely ¡¡ you see that time of the day (early, first hour) its a good time to use the runners... after that maybe its more bussiness just to scalp and exit entire positions on scalper exits... cheers Walter.

[walterw 10]

I want to post here some charts of why today there where no more flips on YM....

 

As you all know a flip is formed by 5 simple steps: (to open position)

 

1rts Outerband Pivot Formation

2nd Creation of S&R level

3rd Break of that S&R Level

4th Pullback to the level

5th Timing entry of flip

 

 

On the cases I attach from this sleepy evening you can notice that on several ocations we did form step 1 and 2 but did not get step 3...

 

On other ocations we got a very weak step 3 and step 4 would invalidate the entire setup as they would get too deep from S&R level...

 

This is what monitoring flips on real time its all about... you get lots of preparations that finish on nothing.... others, they get all the way thru and get as sweet as they can... cheers Walter.

[walterw 10]

I want to make clear how I did manage my stop today on my first trade, and that was as I entered the trade with a +50 level cross, the crossing on oposite direction was a clear stop... (period). Discipline here is my best friend... cheers Walter.

[walterw 10]

Today june 19 we are having a very dull market, so runners are not an alternative... just scalping... I had a pair of scalps good for some ticks, cheers Walter.

[Blu-Ray 10]

Nice one Walter, I managed to catch the second one.

 

Missed the 1st one as I keep waiting for the picture perfect ones, as in where the S/R line is touched.

 

Keep up the good work

 

Cheers

 

Blu-Ray

[walterw 10]

Glad to hear that Blu-Ray, today we didnt have much amount of flips... the reason is very simple : there is not much momentum so there are al lot of setups that get invalidated specially on the pullback to level... (too deep)

Some two more flips, I didnt trade them... cheers Walter.

[walterw 10]

Today june 20 had one flip so far... was not a big deal but worked fine taking entry from -50 and again scalper exit was the most rentable one here...

 

I will soon open a new thread with a technique that compliments on this kind of days when there are nice trades but are not flips, it will use some momentum concepts used for flips and will also capitalize on the timing methods used on flips, but will open a lot of more oportunities to trade...

 

cheers Walter.

[Blu-Ray 10]

 

I will soon open a new thread with a technique that compliments on this kind of days when there are nice trades but are not flips, it will use some momentum concepts used for flips and will also capitalize on the timing methods used on flips, but will open a lot of more oportunities to trade...

 

cheers Walter.

 

Excellent stuff Walter, I'm looking forward to it.

 

 

Blu-Ray

[walterw 10]

Excellent stuff Walter, I'm looking forward to it.

 

 

Blu-Ray

 

Yes Blu , I have two more setups two share on futures, I did had a process there using the flip timing methods for them... I dont want to overload information... thats why I still didnt post, but I will soon share..., feel free to post your flips... cheers Walter.

[walterw 10]

So far today we got this nice flip right after an abc trade... cheers Walter.

[walterw 10]

Today I will post an offline flip (did not trade)... I had been doing M`s lately with my old method, but I have to confess flips setups are much easier... so I will try to keep posting here my flips on the coming days... so far I am following YM on a 55T chart with a keltner exponential 100 / 1 and 2.5 atr, on the cci you have cci 14 and cci 6 for turbo...

 

From all my last research in futures, flips are the trades that have something special on being easy to spot... and sometimes when you feel a little lazy to be making too much algorithms on your head this is one setup that gets me relaxed... compared to abc`s the advantage flip has its that there is not so many amount of signals, abc`s can eventually make you overtrade... M`s or lazy trades is for oldies an there are so many subjective perception nuances that I really fail to post here objectively on this trades... it is a type of trade I think should be thought on site... lol... now flips are easy and straight forward, and for me posting here helps me a lot as I get to see my mistakes and my good performance as well, and if someone at the same time its following this simple method, I hope I can help and please feel free to share some charts here... cheers Walter.

 

 

PD: at this point I am only using scalper exits "The Exit"... with re-cross of 50 levels...

[Blu-Ray 10]

... compared to abc`s the advantage flip has its that there is not so many amount of signals, abc`s can eventually make you overtrade...

 

 

Walter

 

Just a quick question if I may, I know when you started the ABC thread you said that you were using the same indicators and tick chart as the flip methodology. Then you switched to a 22 tick chart with a new oscillator as well, so I was wondering, what nuances did you find with the ABC method?

 

I can see where overtrading would come into it, as it throws out a lot of signals, but there are also a few where you would get shaken out as well. I would really appreciate your comments, as when waiting for flips, alot of the time ABC patterns occur instead.

 

 

Cheers

 

Blu-Ray

[walterw 10]

Walter

 

Just a quick question if I may, I know when you started the ABC thread you said that you were using the same indicators and tick chart as the flip methodology. Then you switched to a 22 tick chart with a new oscillator as well, so I was wondering, what nuances did you find with the ABC method?

 

I can see where overtrading would come into it, as it throws out a lot of signals, but there are also a few where you would get shaken out as well. I would really appreciate your comments, as when waiting for flips, alot of the time ABC patterns occur instead.

 

 

Cheers

 

Blu-Ray

 

Yes Blu-Ray I do have a 22 Tick chart also on my trading, I use it for "Very specific timing" I do use it for flips as for abc`s... now my experience with abc`s is that the best abc`s that did work happened also to be flips, so it was adding to much noise into my trading, having too much trades I dont really need... so for the sake of simplicity I just choose to trade flips at this time and my regular M`s.... I will show you on post my 22 T charts also... cheers Walter.

[Patrycja 10]

Hi Walter,

 

Thanks for sharing your ABC and Flip setups.

 

I have a question with regards to entries when the Turbo crosses the zero do you put in a market order or a limit order and wait to get trigerred?

 

Here are some of todays setups.

 

Patrycja

[Guest forsearch]

07-03-2007 10:51 AM

walterw Re: The "Flip" Trade (support and resistance changing roles)

 

 

Ah, a blast from the past - back in July 2007. Hopefully, Walter is still around to answer your question live in the forums.

[brownsfan019 17]

Ah, a blast from the past - back in July 2007. Hopefully, Walter is still around to answer your question live in the forums.

 

And another old thread dug up from the grave...

 

I will say this - some people spend some serious time around here finding old threads to breathe new life into.

[Guest forsearch]

I will say this - some people spend some serious time around here finding old threads to breathe new life into.

 

Go figure...but that's probably because mods around here don't close 'em off when they're pretty much done.

[walterw 10]

Hi Walter,

 

Thanks for sharing your ABC and Flip setups.

 

I have a question with regards to entries when the Turbo crosses the zero do you put in a market order or a limit order and wait to get trigerred?

 

Here are some of todays setups.

 

Patrycja

 

 

Hi Patrycja, I use market orders all in, all out... and yes this method can make posible a living for any trader, just do 10 ticks per day on 50 mini contracts and you should be making $2500 daily lol... cheers Walter.

[walterw 10]

Go figure...but that's probably because mods around here don't close 'em off when they're pretty much done.

 

 

They should NOT be closed as the system is so fresh in its use as when it was posted long time ago, and new people come in and may have questions regarding to the system... trading is a simple endeavor and old good methods as the one presented here can help a lot to new and even old seasoned traders... cheers Walter.

[MC 10]

They should NOT be closed as the system is so fresh in its use as when it was posted long time ago, and new people come in and may have questions regarding to the system... trading is a simple endeavor and old good methods as the one presented here can help a lot to new and even old seasoned traders... cheers Walter.

 

Agreed. Why close a thread with great info? Whats wrong with people bumping old threads? IMO this goes to show that the info in that thread is probably still relevant.

 

Most the good threads/info are TIMELESS.

 

AND lets keep jabs out of this...thanks.

[Patrycja 10]

Hi Patrycja, I use market orders all in, all out... and yes this method can make posible a living for any trader, just do 10 ticks per day on 50 mini contracts and you should be making $2500 daily lol... cheers Walter.

 

HI Walter,

 

Thanks for your reply, I was curious to see what type of orders you were using.

 

What about higher time frames do you use those in this strategy to confirm the direction of the trend?

 

Patrycja

[brownsfan019 17]

Now that FS has been banned (again) mind as well clean this thread up MC and get it back on track.

[Soultrader 12]

Please note I have deleted 8 posts that contained arguments between members irrelevant to Walters thread. One member has been banned for repeated bashing comments. Thanks.