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Trading with range bars ichimoku cloud & awesome oscillator

  • #2,621
  • Edited 12:46pm Feb 22, 2018 10:40am | Edited 12:46pm
+12 pips
In 83.87
Out 83.75

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  • #2,622
  • Feb 22, 2018 11:37am Feb 22, 2018 11:37am
Quoting dwe213
{image}
Please post pips made as well to motivate us
  • #2,623
  • Feb 22, 2018 11:40am Feb 22, 2018 11:40am
Quoting rockypoint
done for the day. {image}
Hi Rocky, I'm new to this thread, I'm impressed by you technique, could you please answer a question, how do you deal with correlation? Do you open several positions on diferente pairs even though they are pretty much positive or inversed correlation without worries?

best regards
thinking outside the box
  • #2,624
  • Feb 22, 2018 11:42am Feb 22, 2018 11:42am
Quoting rockypoint
Hey Ed, The power indicator is for one thing telling you what weakest and or strongest currencies are for the trading session. I don't even look at the pairs just the indivdual currencies strength. Indicator has no bearing on trade entry but the cloud does long only when price is above cloud or short only if price is below cloud, just like AO only long if AO is positive only short when AO is negative. After 11 years of full time trading nerves are pretty much gone, though volatile day can still boost the adrenaline, which I love. Demo trading is...
Can you get Mini Lots with a Futures Broker like AMP ? I know that in the UK you can use spread bet companies but if the likes of AMP did mini lots that may be better than using a spread bet company where slippage could be a problem ?
every Saint has a past. Every Sinner has a Future
  • #2,625
  • Feb 22, 2018 2:22pm Feb 22, 2018 2:22pm
No not worried about CAD news.

I don't even think about correlation, I have no problem on making multiple trades with 1 currency. I like things simple, this is day trading don't make it too complicated.

I know nothing about any broker but Thinkorswim, they offer some specific small lots on some futures but with the commissions and payout I think that they are not worth trading..
  • #2,626
  • Feb 22, 2018 2:44pm Feb 22, 2018 2:44pm
Hi Rockypoint

When i read the thread from May 2016 to now, there were different periods of time when you changed strategies because charts became sideways, range bound, whipsaw, etc. and market condition was not best for the main ichimoku/AO strategy. Can you share the way you go about coming to conclusion that it is best to change trading strategy for a period of time.

Do you ever adjust 50 to a 30 or 40 pip on forex to adjust to market conditions? I see you did that in futures but not sure you would do that with forex?

And...just to get more of a sense of your decision making.....What percent of trades on forex are taken because you are using the forex power indicator that shows strongest currency? What percent of your trades on forex have nothing to do with forex power indicator because the currency was not showing strength or weakness? I am unclear as to the degree you use forex power indicator for your decisions

Thanks so much. Very grateful for your sharing and commitment to this thread and all you have done to help others become successful traders

Ed
  • #2,627
  • Feb 22, 2018 3:42pm Feb 22, 2018 3:42pm
Quoting rockypoint
No not worried about CAD news. I don't even think about correlation, I have no problem on making multiple trades with 1 currency. I like things simple, this is day trading don't make it too complicated. I know nothing about any broker but Thinkorswim, they offer some specific small lots on some futures but with the commissions and payout I think that they are not worth trading..
Sorry Rocky, some confusion here I think. I took this extract from your post and assumed it referred to AMP -
"Then go live but trading only mini or micro lots till they understand the fear/greed that trading causes and they are consistently profitable. Then gradually work your way up to full lots, trade a min lot where each pip is $1, when your comfortable with results move $2 a pip and so on."

I take it then that AMP do not trade mini or micro lots ?
every Saint has a past. Every Sinner has a Future
  • #2,628
  • Feb 22, 2018 4:02pm Feb 22, 2018 4:02pm
I know nothing about AMP, actually never heard of them before.

An in answer to another question, yes I will sometimes change the size of range bars(not very often on FX usually to 25 pips on a slow chart that looks like a set up I like) mostly on futures where instead of 5 I'll change to atr.

I would guess about 60% of my trades have something to do with fx power ind. but again I don't choose pairs just at which currency looks weakest/strongest.
  • #2,629
  • Feb 22, 2018 5:56pm Feb 22, 2018 5:56pm
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I would like to die on Mars. Just not on impact..... Elon Musk
  • #2,630
  • Feb 22, 2018 7:38pm Feb 22, 2018 7:38pm
Forex Factory market scanner (live) set it to what ever you want.
I use my Brokers chart time so all things sync.In my profile I set my timezone to chart time.
I have 24hour 1 hour line chart with a 4 hour pip change as per RPs
I find it easy to see what's trending what is not.The rest is up to me.
Hope this helps

lpp
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I would like to die on Mars. Just not on impact..... Elon Musk
  • #2,631
  • Feb 22, 2018 8:43pm Feb 22, 2018 8:43pm
Quoting dwe213
+12 pips In 83.87 Out 83.75 {image}
Apologies Dwe. I didnt realise you had put the pips in the top corner in your chart
  • #2,632
  • Feb 23, 2018 4:21am Feb 23, 2018 4:21am
Quoting ichikuse
{quote} Apologies Dwe. I didnt realise you had put the pips in the top corner in your chart
Thanks for the reminder. I added them after your request.
  • #2,633
  • Feb 23, 2018 4:22am Feb 23, 2018 4:22am
Friday, London open. I'm thinking about focusing on JPY shorts from consolidation, as they often move quickly and as a group on the strongest moves.
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  • #2,634
  • Feb 23, 2018 6:39am Feb 23, 2018 6:39am
GBP/USD plays boom boom for me in London session..........
Rocky is my entry correct? Am I in the right way?
Thanks for this nice system... I really like it.
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  • #2,635
  • Feb 23, 2018 9:00am Feb 23, 2018 9:00am
Nicely done Rafibd. You to Dwe213 nice trade.

I'm taking day off, only been up about 15 mins.
  • #2,636
  • Feb 23, 2018 3:19pm Feb 23, 2018 3:19pm
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  • #2,637
  • Feb 23, 2018 7:33pm Feb 23, 2018 7:33pm
Quoting dwe213
{image}{image}
Nice trades... Is the bottom indi RSI and what are the settings?
  • #2,638
  • Feb 23, 2018 8:52pm Feb 23, 2018 8:52pm
The bottom is CCI, 20-period, with a fat center line. I got only half of the EJ trade, but wanted to post them to show there's sometimes good movement late in the day.
  • #2,639
  • Feb 26, 2018 8:58am Feb 26, 2018 8:58am
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  • #2,640
  • Feb 26, 2018 8:59am Feb 26, 2018 8:59am
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