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Trading with range bars ichimoku cloud & awesome oscillator

  • #2,581
  • Feb 15, 2018 4:38am Feb 15, 2018 4:38am
Quoting rockypoint
I look at pairs that have 1 side that has the largest 1 or 4 hour moves. I also look for pairs that are showing consolidation near the cloud or after a move up/down. Snoop I see you are picking up on triangles one of my favorite patterns. I am not a fan of ea's they take too many trades and most people I know experience very little benefit unless they have a large account. Trading needs to be discretionary. As far as alerts go I used to use them but found them annoying especially in day trading where they are constantly going off.
It is a familiar pattern ( pun intended ) that people cannot leave a KISS approach alone. They have a desire to introduce EA's or another layer of indicators - a sort of comfort blanket. The mind gets in the way of trading since people are conditioned to avoid mistakes or losing. They have to accept that they WILL have losses and to manage them and live with them as part of the world of trading. Discretion is a function of Rockies approach, such as recognizing the triangle etc. Since not all traders have the same level of experience not all will spot them at the same time. If I had an EA that worked I wouldn't share it but would go on to be a zillionnaire.
every Saint has a past. Every Sinner has a Future
  • #2,582
  • Feb 15, 2018 9:08am Feb 15, 2018 9:08am
I decided to take the day off, great day yesterday, just not feeling it today. So this morning breakfast in bed for the woman who has put up with me for 30 years and rarely gives me the "evil eye".
  • #2,583
  • Feb 15, 2018 9:13am Feb 15, 2018 9:13am
Quoting rockypoint
I decided to take the day off, great day yesterday, just not feeling it today. So this morning breakfast in bed for the woman who has put up with me for 30 years and rarely gives me the "evil eye".
Lol. One good turn deserves another. Is she also a trader?
  • #2,584
  • Feb 15, 2018 10:16am Feb 15, 2018 10:16am
My trades today:
UJ (6:02am Long), broke-even
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UCAD (6:25am Long)
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USGD (6:45am long) - lost
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GBPCAD (7:20am Long)
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U/CHF (8:15am Short) - lost
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Entry screenshots:-
https://www.forexfactory.com/showthr...2#post10781892
  • #2,585
  • Feb 15, 2018 12:44pm Feb 15, 2018 12:44pm
No Ickihouse not a trader an architect.
  • #2,586
  • Edited 6:57am Feb 16, 2018 6:41am | Edited 6:57am
So has been lurking around here a little bit - any feedback on my entry here?

1. Price has broken out of the cloud.
2. Leading cloud shows uptrend is coming.
3. AO is showing some buying power.

Keen to hear any thoughts?

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Edit - well I have taken half off for profit and left a trailing stop. Looks like this one worked out!
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  • #2,587
  • Feb 16, 2018 9:10am Feb 16, 2018 9:10am
Look to me like a good entry on a chart with nice pa, well done.
  • #2,588
  • Feb 16, 2018 9:14am Feb 16, 2018 9:14am
Actually got up early again, trying to readjust the body clock started about 4:45. 5 trades, posting 4, 1 still open on aud/usd.
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  • #2,589
  • Feb 16, 2018 9:18am Feb 16, 2018 9:18am
Well that didn't take long, done for the day.
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  • #2,590
  • Feb 16, 2018 9:53am Feb 16, 2018 9:53am
Quoting Ivanyo
So has been lurking around here a little bit - any feedback on my entry here? 1. Price has broken out of the cloud. 2. Leading cloud shows uptrend is coming. 3. AO is showing some buying power. Keen to hear any thoughts? {image} Edit - well I have taken half off for profit and left a trailing stop. Looks like this one worked out! {image}
If you think that the cloud leads, you will be sorry. It seems to me to be all about:

Divergence
Trend line breaks
Speed and power of candles through the cloud
Pullback
Trade in chosen direction

I stay away if price lingers through the cloud.

The biggest challenge for me is using the forex power indicators. When I check them, the train has often left the station. Which is frustrating because it is obviously a key part of the strategy.
'in less than half an hour he made over 100 ticks'
  • #2,591
  • Feb 16, 2018 9:54am Feb 16, 2018 9:54am
Brilliant and Bravo, as usual, sir!

My trades were not even close to your consistency:-

GBPAUD long 6:30am - losing trade
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EURAUD long 7:05am - losing trade (1st green dot)
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EURCAD long 8:15am (1st green dot was missed, entry at 2nd green dot)
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EURAUD long 8:25am (2nd green dot)
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GBPCAD long 9:30am
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Screen shots at entry: https://www.forexfactory.com/showthr...3#post10785843
  • #2,592
  • Feb 16, 2018 1:44pm Feb 16, 2018 1:44pm
Quoting onejester
{quote} If you think that the cloud leads, you will be sorry. It seems to me to be all about: Divergence Trend line breaks Speed and power of candles through the cloud Pullback Trade in chosen direction I stay away if price lingers through the cloud. The biggest challenge for me is using the forex power indicators. When I check them, the train has often left the station. Which is frustrating because it is obviously a key part of the strategy.
I had always been frustrated by the strength indicator because it did not seem to help but recently i have been painstakingly trying to understand RP's charts and i think i have somewhat managed to understand how he uses the indi.I stand to be corrected if i am wrong.Here is what i think.When the London session starts RP is asleep usually so he misses that train.He starts trading the US session.When he looks back 4 hours he sees, for example that the USD has been strong during the UK session.So he opens the GBPUSD chart for example.Usually, the trend in the US session has been established already in the UK session.As in the chart i attached, the USD continues its assault on the GBP. Sometimes when the US session starts, there might have been so much strength in some currency so much that a day's low has been reached.This is when RP now catches his classic divergence reversals.So, in the US open, we will be hopefully looking for trend continuation or reversals.When you think you have missed the train it isnt really a negative thing because the strength indi tells u which currency is strong so that you can watch out for it to continue or for reversals.RP says one of his favourite charts is one whereby a currency shows so much strength and then pauses and consolidates in the clouds.This usually happens 2 hours or so before US open.Maybe its because London traders are on lunch.
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  • #2,593
  • Feb 16, 2018 1:55pm Feb 16, 2018 1:55pm
Quoting rockypoint
Well that didn't take long, done for the day. {image}
Well done! What i respect about you is your decisiveness! You never seem to want to stay in a trade longer than is necessary.I have seen some of my winning trades turn into losses because i was HOPING for more pips instead of sticking to the rules and exiting when the price action says so!
  • #2,594
  • Feb 17, 2018 10:48am Feb 17, 2018 10:48am
Avoid letting winners turn into losers. I f you enter a trade and set a stop loss of say 15 pips once you are up 10 pips change sl to 5 pips, you hit 15 change to b/e etc.
  • #2,595
  • Feb 17, 2018 11:25am Feb 17, 2018 11:25am
Hi #rocky i dont know if you ever tryed these i will give it a try these week, double settings of standard ichimoku look's like filter better sideways moves!?
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  • #2,596
  • Feb 18, 2018 5:47pm Feb 18, 2018 5:47pm
Quoting rockypoint
Avoid letting winners turn into losers. I f you enter a trade and set a stop loss of say 15 pips once you are up 10 pips change sl to 5 pips, you hit 15 change to b/e etc.
Great point - can't lose money taking profits

Quoting mizi123
Hi #rocky i dont know if you ever tryed these i will give it a try these week, double settings of standard ichimoku look's like filter better sideways moves!? {image}
Why change what works?
  • #2,597
  • Edited 7:09am Feb 19, 2018 6:23am | Edited 7:09am
Just got into EURNZD

1. Price above the cloud
2. Cloud turning
3. AO showing bullish momentum

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Edit - moved to BE, going to call it a night (Australia time zone)
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  • #2,598
  • Feb 19, 2018 8:39am Feb 19, 2018 8:39am
quiet day
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  • #2,599
  • Feb 19, 2018 3:33pm Feb 19, 2018 3:33pm
Quoting rockypoint
quiet day {image} {image}
First i want to thank you for your teachings and for posting your charts they are helping me tremendously and just in one week my whole perspective on how to look at the chart has changed.. So thank you so much.
Now the question today there was a USD bank holiday how come that you tradet?
  • #2,600
  • Feb 19, 2018 6:20pm Feb 19, 2018 6:20pm
Rest of the world was open for business, but it was a pretty quiet trading day.
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