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Trading with range bars ichimoku cloud & awesome oscillator

  • #2,101
  • Jul 11, 2017 10:45pm Jul 11, 2017 10:45pm
Ichikuse,

1) Never cared for trailing stops, always felt I made more money trading with a regular stop and moving it as necessary.
2) whipsaws happen get used to it, avoiding getting caught by a news announcement on the calendar while in an open trade helps.
3) Yes I trade both types of dvrgs. main difference between them and regular trades is using a trend line as opposed to a price level.
4) Bars on FX are mostly 50 ticks and on futures 5 pips or ATR.
5)Trade from 8am est to 11am est.
  • #2,102
  • Jul 12, 2017 1:53am Jul 12, 2017 1:53am
R P thanks a lot! I like the simplicity of your trading style and one day i believe i will be posting consistently successful trades.
Babypips.com said the years-long tests they undertook showed that the ichimoku system is the most successful system out of all the systems they tested followed by the Macd( of which the Awesome oscillator is a type of MACD), but maybe people shy away because of the exotic names tenkan etc.

They said some indicators they tested, when used alone even resulted in losses.

I made a decision to use the ichimoku and the macd as the two most important indicators if not the only ones(and i am not condemning other indicators at all, just my choice).

When i saw your style and charts,there was no way i could not be swayed.
I am certainly a beginner but as i have heard many times, to be successful one needs to make up their minds about a strategy and stick to that strategy without unnecessary tweaks.

I also believe congested charts only result in the trader missing out on fine-tuning their trading knowledge because it is hard to appreciate support and resistance when there are so many lines and other stuff on the charts.

Thanks RP for your selflessness and to everyone contributing to this thread, i wish you all the best!
  • #2,103
  • Jul 12, 2017 10:03am Jul 12, 2017 10:03am
First day back trading 2 nice trades.
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  • #2,104
  • Edited 10:52am Jul 12, 2017 10:13am | Edited 10:52am
Three trades today during CAD news, but my entry was late on the two that I'm not posting (got out for small gains).
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  • #2,105
  • Edited 10:34am Jul 12, 2017 10:19am | Edited 10:34am
Rocky,
How did you decide to open GC and CJ before the CAD news and to keep them open up to and during the News Release?

It seems with CAD News Releases that the market usually starts moving 5 minutes before the news is released, in the direction it later moves--maybe enough traders know the Release ahead of time?
  • #2,106
  • Jul 12, 2017 10:37am Jul 12, 2017 10:37am
Good trade RP. I saw that one but I do not like to trade Central Bank announcements. Burned me to many times so I usually do something else. I thought it was interesting also to see how the Dollar and the EURO reacted to Yellens testimony when it was posted this morning. Have a great day everyone.
  • #2,107
  • Jul 12, 2017 2:05pm Jul 12, 2017 2:05pm
Quoting Divergence
Very hard to do in mt4. You could get free demo with tos or ninja trader. Here's my other setup it's where the 2 sma are same color and pullback for entry {image}
hi sir can u send me your ind. which u use in this chart it will be great help for me thanku
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  • #2,108
  • Jul 12, 2017 5:56pm Jul 12, 2017 5:56pm
I'm attaching a quote a friend sent me on his 3rd anniversary of becoming a profitable trader, he says I said it, but I think it was me quoting someone. If it was me I'm smarter than I thought, but what ever the source it sums up my thoughts on trading perfectly.
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  • #2,109
  • Jul 14, 2017 9:14am Jul 14, 2017 9:14am
5 trades, 4 winners 1 loser, plenty of opportunities today. Passed on several my brain is functioning too slow today too manage more than what I did.
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  • #2,110
  • Jul 14, 2017 10:22am Jul 14, 2017 10:22am
4 trades today, 1 loser--see my Trade Explorer that's located on the first post of my Trade Journal for all of the trades.
Two Rocky-style breakout trades (the first trade inspired by Rocky's recent, posted quote):
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  • #2,111
  • Jul 14, 2017 10:40am Jul 14, 2017 10:40am
Quoting dwe213
Rocky, How did you decide to open GC and CJ before the CAD news and to keep them open up to and during the News Release? It seems with CAD News Releases that the market usually starts moving 5 minutes before the news is released, in the direction it later moves--maybe enough traders know the Release ahead of time?
Rocky and dwe213, congratulations for your winning trades

How did you decide to open GC before the CAD news : hidden div (M30), div (M15) and price action.
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  • #2,112
  • Jul 14, 2017 10:49am Jul 14, 2017 10:49am
Pat, thanks for answering my question. That green line looks like a helpful leading indicator.
Next week, on the 21st, hilmy83 and I will be visiting Forex Factory for a tour. If you have any questions that you'd like me to ask, pm me.
  • #2,113
  • Jul 18, 2017 2:05pm Jul 18, 2017 2:05pm
Hello everyone, probably not going to be posting my own trades this week. I have a very old friend here who I am teaching how to trade. so we are using paper money while he's learning. Today was first day and he had 3 winners. I'll post those he made today.
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  • #2,114
  • Jul 18, 2017 4:58pm Jul 18, 2017 4:58pm
Lucky man to have you as a trainer. Would love to be looking over your shoulder as well.

Cheers.
  • #2,115
  • Jul 19, 2017 4:38pm Jul 19, 2017 4:38pm
https://join.slack.com/t/awesome-ich...N2QyOWMyMTFhNw

Link to chat group for this system. We're there for NY opening, and sometimes earlier. Come join us!
  • #2,116
  • Jul 20, 2017 1:02am Jul 20, 2017 1:02am
Thanks Rocky's teaching, I am now starting to trade the system seriously.

EURCAD - Broke the downtrend, bought it over the cloud, unfortunately it didn't go higher, sold it when it bounced back
USDCAD - sold it when it broke the support, didn't hold it because I was afraid that it would continue go higher ( it was a mistake, should not exit so early)
AUDNZD - saw the chance but did not buy (mistake)

Lessons learned, I will work smarter!

blue region - 8am est - 11am est
yellow region - 3am est - 6am est
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  • #2,117
  • Jul 20, 2017 3:30am Jul 20, 2017 3:30am
Hi guys.
I strongly believe the visual appearance of charts has a big bearing on the quality of trade setups.I have tried thinkorswim and i came to the conclusion that their charts are awesome.In TOS when you scroll charts from left to right the price bars do not change in appearance and do not stretch as the platform makes scale adjustments.In MT4 however,sometimes a chart looks exactly as it looks in TOS but as you scroll the bars can change sizes and this can appear to be a choppy setup when it is not at all.Sometimes the bars are shorter overall sometimes longer.

You can see what i mean in the attachments here.I tried locking in the scale in MT4 but it does not help.
Does anyone have a solution?
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  • #2,118
  • Jul 20, 2017 6:04am Jul 20, 2017 6:04am
Quoting ichikuse
Hi guys. I strongly believe the visual appearance of charts has a big bearing on the quality of trade setups.I have tried thinkorswim and i came to the conclusion that their charts are awesome.In TOS when you scroll charts from left to right the price bars do not change in appearance and do not stretch as the platform makes scale adjustments.In MT4 however,sometimes a chart looks exactly as it looks in TOS but as you scroll the bars can change sizes and this can appear to be a choppy setup when it is not at all.Sometimes the bars are shorter overall...
https://ovo.cz/

have a look. i am not affiliated in any way to them.
  • #2,119
  • Jul 20, 2017 8:00am Jul 20, 2017 8:00am
Quoting BataviaTrade
{quote} https://ovo.cz/ have a look. i am not affiliated in any way to them.
BataviaTrade thanks a lot but I do have that and other indicators.The problem is the same in MT4. There are times when the bar length is at its smallest and that is the best scenario.But as you scroll back and forth the bar length increases and decreases causing distortions that can hinder a good assessment of a trade set up.
So, where in thinkorswim a setup is for example that of utmost consolidation, in mt4 the same setup can look choppy and you can throw away that chart with the false assumption that its a bad chart.
  • #2,120
  • Jul 21, 2017 2:22am Jul 21, 2017 2:22am
Quoting ichikuse
{quote} BataviaTrade thanks a lot but I do have that and other indicators.The problem is the same in MT4. There are times when the bar length is at its smallest and that is the best scenario.But as you scroll back and forth the bar length increases and decreases causing distortions that can hinder a good assessment of a trade set up. So, where in thinkorswim a setup is for example that of utmost consolidation, in mt4 the same setup can look choppy and you can throw away that chart with the false assumption that its a bad chart.
Well, especially with range bars this argument of the candle length distortion does not seem relevant, when all the bars have equal lengths. But still you may switch the elastic display off, if you check the "Scale fix" in the chart options.
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