{"id":7380,"date":"2010-09-29T23:01:32","date_gmt":"2010-09-30T03:01:32","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=7380"},"modified":"2010-09-30T00:12:10","modified_gmt":"2010-09-30T04:12:10","slug":"some-notes-on-flags","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/some-notes-on-flags","title":{"rendered":"Some notes on flags"},"content":{"rendered":"

I just wanted to write a short post (yes Bella, I can write a short<\/em> one) on flags to reinforce a few points Bella made in this post<\/a> earlier today.\u00a0 I am in the middle of doing a thousand other things tonight, so excuse the stream-of-consciousness format here.<\/p>\n

The concept of a flag is a pullback in a trend.\u00a0 There are many ways to define these patterns, but the most important is that you are consistent and you understand the nuances of the pattern as you define it.<\/p>\n

In the new Advanced Technical Analysis Training Module<\/em> that we are working very hard on (more on this later, but I am excited to say that we are creating something really awesome here), the flag pattern is a main focus.\u00a0 There are traders who make their living just trading pullbacks.\u00a0 There are a lot of subtle variations but, to the poster asking the question, you have focused in on a powerful pattern.\u00a0 This, in fact, is my bread and butter trade and has been for a decade.\u00a0 (In all timeframes btw.)<\/p>\n

Some elements you need to consider:
\nWhat sets up the pattern?
\nHow important is the geometry of the pattern?
\nHow important is the higher timeframe?
\nHow important is the location of the pattern within the overall trend structure?
\nHow will you get in? (Short resistance, hit momentum on a breakdown within or beyond the pattern.)
\nWhere will you get out if you’re wrong?\u00a0 Is this answer different on different markets and timeframes?\u00a0 Is this answer different depending on where the flag is in the overall market structure?
\nWhere will you get out if you’re right?\u00a0 [Same list of questions applies.]\nWill you scale in or are you all in?\u00a0 Will you scale out or are you all out?\u00a0 Is this answer different for winning and losing trades?
\nWill you add to winning trades?\u00a0 How?\u00a0 Where?\u00a0 How do you manage these trades?<\/p>\n

I could go on, but you get the idea.\u00a0 It is important also (and I’ll write on this more in the future) to realize that there actually are right and wrong combinations of these answers.\u00a0 Every trader has to find her own answer to these questions, but we should point out that some things don’t work.\u00a0 For instance, you can give these a lot of room to your stop, but this will not work if you’re taking tiny profits… many other wrong answers and pitfalls to avoid.<\/p>\n

I hate answers to questions that are just more questions, but these are a few of the things you need to think about.<\/p>\n

This pattern is a major part of my intraday focus.\u00a0 I will try to tweak some flag patterns over the next few days so follow me on Twitter AdamG_SMB.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few random thoughts continuing Bella’s earlier post on flags<\/p>\n","protected":false},"author":388,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[943,3,1373,15],"tags":[1396,1397,1419],"class_list":["post-7380","post","type-post","status-publish","format-standard","hentry","category-adam-grimess-blogs","category-technical_plays","category-trading-lesson","category-trading_theory","tag-flags","tag-pullbacks","tag-trends","no-post-thumbnail"],"yoast_head":"\nSome notes on flags | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/some-notes-on-flags\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Some notes on flags | SMB 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