How long to you typically wait until you call off a flag trade and is there a minimum flagpole length required?
If it stops looking like flag, then that’s the time to move on; or if there are other better opportunities that deserve your attention.
We don’t tend to look beyond a couple of weeks of consolidation, unless there is a channel or basing action, or shrinking retracements, as there will be other opportunities.
There is no minimum flagpole length we look for. It has to be looked at in relation to the consolidation.
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If the entry price of the flag or consolidation is hit, but then the market just starts moving sideways not hitting either entry or stop loss. Is there a point where I can say this is not the typical flag trader trade and just exit?
Yes, it's typically where it stops being a flag or consolidation, becomes range bound, and other opportunities look better. Also, watch to see if the OVI remains in the direction of the dominant trend, and the presence of Big Money Footprints, ...
The trades I have put on have not worked, I’ve made some losses, what am I doing wrong?
The only way you can lose money with these methods (if applied correctly) is on a false breakout. In other words, you get triggered into a trade, and then it retraces and stops you out before P1. This scenario is highly unlikely if: A) The flag or ...
If the length of the flag starts to approach or exceed the length of the pole then its probably time to consider moving on?
We typically like the flag to be a consolidation where the bars are tighter than what has gone on before. This description would seem to refer to a range bound stock forming a channel.
The flag itself looks like a flag except the flag is rising with the bull flagpole (or falling with the bear flagpole), should I trade it?
No. We do not trade ascending or descending wedges because we have no clear entry point, and cannot manage the trade.
Is it normal enough that after a trade is filled that it comes back into the flag (bull) and bounces along like that for quite a few days before it thinks about going back up through the original buy stop order level again?
This is something that can happen. Ideally when the stock breaks out it keeps going, takes out our first profit target and then some more on top, which you manage by use of Guy's Dynamic Trailing Stop. When the markets are breaking out big time ...