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Trading with range bars ichimoku cloud & awesome oscillator

  • #4,261
  • Aug 19, 2019 4:31am Aug 19, 2019 4:31am
Quoting turnip15
A stripped down Ichimoku ? https://www.youtube.com/watch?v=5a8oHcG1DUc (Ignore other content about algo's etc.) -
Get rid of the cloud!?!?!??!?!
  • #4,262
  • Aug 20, 2019 9:29am Aug 20, 2019 9:29am
I would bet anything the prior video speaker doesn't trade for a living, or retirement enhancement, as RP does. He's spent all of his time polishing his presentations for YouTube subscribe numbers income and who knows what else he happens to sell.

I would say no serious non-retired day trader would ever touch Forex. There's just ridiculous levels of money that can be made in very short amounts of time-in-the-trade on the 1-5 min timeframes e-mini futures, especially the NQ (YM and RTY also, Crude (CL) has many good moves now too). One NQ contract can move $500 USD within 5 mins within the first 2 trading hours these days with this fantastic volatility.
  • #4,263
  • Aug 20, 2019 11:08pm Aug 20, 2019 11:08pm
Quoting CLTrader
I would bet anything the prior video speaker doesn't trade for a living, or retirement enhancement, as RP does. He's spent all of his time polishing his presentations for YouTube subscribe numbers income and who knows what else he happens to sell. I would say no serious non-retired day trader would ever touch Forex. There's just ridiculous levels of money that can be made in very short amounts of time-in-the-trade on the 1-5 min timeframes e-mini futures, especially the NQ (YM and RTY also, Crude (CL) has many good moves now too). One NQ contract...
I might have to agree with you there
  • #4,264
  • Aug 26, 2019 5:56am Aug 26, 2019 5:56am
Quoting Ivanyo
{quote} Get rid of the cloud!?!?!??!?!
This is the second of 2 videos he has on the subject. This part just deals with if there are any parts of Ichi that could work in his particular algo. The first deals with Ichi as a system in it's entirety.
  • #4,265
  • Oct 29, 2019 5:28am Oct 29, 2019 5:28am
It's a shame that not many people are still contributing to this thread.

Now that I am done with my exams, I am going to start a new account purely trading this method and will share trades/screenshots
  • #4,266
  • Oct 29, 2019 6:01am Oct 29, 2019 6:01am
Quoting rockypoint
This a first post on a new thread that is an off shoot of big income from a small account-m1 trading system. I will begin posting my trades here next week. Just so every one know and understands i have no interest in selling any trading systems, signals or mirror trading services. This thread is solely for helping each other with what can be a very frustrating hobby/business trading. The system template is simple. Candles, use i/2 min or range bars indicators: Ichimoku cloud settings 9, 16, 52 awesome oscillator std. Settings below is image of what...
how about renko point setup up box ? 10 pips ?
  • #4,267
  • Oct 29, 2019 7:07am Oct 29, 2019 7:07am
NASDAQ 100 - some pre market action.

Got out break even

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  • #4,268
  • Oct 30, 2019 3:06am Oct 30, 2019 3:06am
DAX +22 at open
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  • #4,269
  • Nov 4, 2019 3:42am Nov 4, 2019 3:42am
Break even +1 today. Circles show entry/exit points. As I've been doing, I do 1 trade a day to manage overtrading and also because it's late here in Australia and I don't stay up all night to trade, so there' always another entry tomorrow.

The trade went to approximately 11 or 12 pips in my favour before retracing back to entry point and stopping me out.

I will continue to trade this way for a few more trades and determine whether I am setting my stops too tight but would be good to hear from the other frequent posters of this thread to see their thoughts.
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  • #4,270
  • Nov 4, 2019 4:36am Nov 4, 2019 4:36am
Quoting Ivanyo
Break even +1 today. Circles show entry/exit points. As I've been doing, I do 1 trade a day to manage overtrading and also because it's late here in Australia and I don't stay up all night to trade, so there' always another entry tomorrow. The trade went to approximately 11 or 12 pips in my favour before retracing back to entry point and stopping me out. I will continue to trade this way for a few more trades and determine whether I am setting my stops too tight but would be good to hear from the other frequent posters of this thread to see their...
Hi Ivanyo,

I admire your discipline.Being able to stick to one trade a day.However, for me it is too restrictive.
Personally, i have a daily stop loss of 4 % per day.I f i lose 4 % i quit trading for the day.Helps not to over-trade.
On the stop loss level, journal your trades and see what works and what doesn't.Assuming you begin trading full lots, would you be comfortable having a 12 pip Stop loss or bigger? Personally, i am testing a new break even rule of 12 pips per trade( i saw this from a successful trader on another thread).

My initial stop loss is 20 pips max, not negotiable.This equates to 2 % risk per trade.I do not risk more than 2 % per trade.
What i am working on currently is to enter 2 lots per trade, each lot @ 1 %.I need the flexibility of being ready to liquidate one lot when my rules tell me to do that, and leaving the other one on where appropriate.)

Unrelated to your question,I said in the past that i would try to keep on posting in this thread so as to help keep this thread alive.
The reason i have not been posting is that, i realized that my trading capital was not big enough to make me take my trading seriously and treat it like a business.When i lost money i felt the pain but the pain was not painful enough because my account size was small.So, at the moment i am on the sidelines for months now,and have been fine tuning my risk management and reading trading psychology books so that i am prepared when i resume trading hopefully early next year with a bigger account.In the meantime i keep studying charts.

Warning to traders:the more you break your rules the harder it will be to turn around your trading and be successful.
This is because as you make breaking rules a habit, you reinforce this bad behavior by buidling neural pathways modeled on bad habits.
Your subconscious mind,which arguably controls no less than 95 percent of your behavior, will do everything it can to protect your habits, in this case, bad habits, because the subconscious does not differentiate between good habits or bad ones.All it knows is to make it extremely hard to break current habits and make it hard to start new ones.To start new good habits, it takes effort and repetition until the subconscious adjusts to this new way of behaviour, a process which actually results in new neural pathways and a literal reshaping of your brain(neuroplasticity).In short, have a trading plan and strictly follow the rules.
Once you follow them enough, some months or so, it becomes a habit.Your own brain will just decide for you and recognize awesome trades without much effort because its now a habit.This is what is called trading in the zone.The brain is a pattern recognition machine.The more you change a system the more you confuse the brain.Changing your chart background color from black to white, or changing the color of your moving averages might seem like an innocent action, but i argue that you are tempering with the brain's ability to recognize useful chart patterns.

When u become profitable, then you may temper with charts and systems.Doing so before profitability is suicidal.
Someone who has been trading for 15 years and changing the system every 1 year does not necessarily have 15 years trading experience in terms of productivity.Such a person has arguably 1 year trading experience because every 1 year he/she is resetting the brain factory settings and starting like a new trader because of system hopping(Remember what i said above about neural pathways.Every 1 year such a person is starting afresh to make his or her brain identify new trades).

Trading success is primarily mental.Being able to follow your system every day whether you lose or not.After a sample of trades, you come out tops.
  • #4,271
  • Nov 4, 2019 4:45am Nov 4, 2019 4:45am
Quoting MrDarren
{quote} how about renko point setup up box ? 10 pips ?
Hi,

A 10 pip box is too big for RP and myself
RP enters when a range bar breaks a trading range by 5 pips, so 10 is a lot and for this system is a late entry.
A 5 pip bar also suits the tight stop loss levels (RP and i use 20 pips max SL).
When i began trading i used renko too but i left renko because, FOR ME, the formation of the bars does not make a good representation of a trading range the way range bars or japanese candles do.
  • #4,272
  • Nov 4, 2019 4:46am Nov 4, 2019 4:46am
Quoting ichikuse
{quote} Hi Ivanyo, I admire your discipline.Being able to stick to one trade a day.However, for me it is too restrictive. Personally, i have a daily stop loss of 4 % per day.I f i lose 4 % i quit trading for the day.Helps not to over-trade. On the stop loss level, journal your trades and see what works and what doesn't.Assuming you begin trading full lots, would you be comfortable having a 12 pip Stop loss or bigger? Personally, i am testing a new break even rule of 12 pips per trade( i saw this from a successful trader on another thread). My initial...
Thanks so much for your insight. I will take these things into consideration and come up with a stop loss that isn't too restrictive and let's trades run when need be.

Hope it goes well for the break/studying. I will keep this thread warm for now and keep posting charts
  • #4,273
  • Nov 4, 2019 4:47am Nov 4, 2019 4:47am
Trading psychology is the breakthrough that traders need.
I am tempted to start a trading psychology thread but i think id rather keep my comments to Rp's thread.Not easy managing threads
  • #4,274
  • Nov 4, 2019 5:13am Nov 4, 2019 5:13am
Quoting CLTrader
I would bet anything the prior video speaker doesn't trade for a living, or retirement enhancement, as RP does. He's spent all of his time polishing his presentations for YouTube subscribe numbers income and who knows what else he happens to sell. I would say no serious non-retired day trader would ever touch Forex. There's just ridiculous levels of money that can be made in very short amounts of time-in-the-trade on the 1-5 min timeframes e-mini futures, especially the NQ (YM and RTY also, Crude (CL) has many good moves now too). One NQ contract...
HI CLtrader, I beg to differ. I think it depends on how one began trading. I began trading forex exclusively and my brain was conditioned to the speed of forex moves. When I tried the dax, the speed completely overwhelmed me. I quickly went to the comfort of my forex trades whose speed I could handle. On the other hand, someone who started off trading indices would most likely be almost angered by the slower forex moves.

Forex can be slow, this is why I only trade high adr pairs like GBPCAD etc. I don't even touch USDCAD which has good moves at times but is still too slow for me to daytrade.

Moreover, I am still in a full time job and would not be able to comfortably trade the fast moving indices before I become a full time trader.

What makes forex suit my style is that forex tends to trade in one direction a lot on any given day with a bit of retracements of course.

Going forward, I still have interest in trading indices but won't do so until I am a full time trader As for forex, I do not see myself quitiing it.
  • #4,275
  • Nov 4, 2019 5:23am Nov 4, 2019 5:23am
With regards to chart size, I started using only 5 pips for every pair but over time realized this would not work for my money management strategy. I look to the typical 4hour ATR for guidance. It can range from 40 on the AUDUSD to 180 on the GBPNZD. My general rule is to take that number and divide be 20. From here I have 4 templates of specific bar sizes. All indicators are the same. For example AUDUSD would be viewed on the chart with the 3 pip bar size and GBPNZD would be viewed on the 10 pip chart. Each template in turn decides what my fixed stop is be to allow the proper and natural movement of that pair and more importantly the spread as it can vary from about 1 to 8 pips.
  • #4,276
  • Nov 4, 2019 6:38am Nov 4, 2019 6:38am
Quoting richt3
With regards to chart size, I started using only 5 pips for every pair but over time realized this would not work for my money management strategy. I look to the typical 4hour ATR for guidance. It can range from 40 on the AUDUSD to 180 on the GBPNZD. My general rule is to take that number and divide be 20. From here I have 4 templates of specific bar sizes. All indicators are the same. For example AUDUSD would be viewed on the chart with the 3 pip bar size and GBPNZD would be viewed on the 10 pip chart. Each template in turn decides what my fixed...
Hi Richt3, thanks for the input.Please share your money management regarding risk per day etc.For example, do you stop trading after losing a certain number of trades or a certain % of your acc?
  • #4,277
  • Nov 5, 2019 3:41am Nov 5, 2019 3:41am
I took on board some of the suggestions and will limit myself to 10% a day risk. I'm trading with a relatively smaller account so this is acceptable for me. As it grows, I may tone down the risk a bit.

First DAX trade today has not worked out - I can't really see too much wrong other than just being unlucky but happy to hear other people's thoughts.
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  • #4,278
  • Nov 5, 2019 3:55am Nov 5, 2019 3:55am
Quoting Ivanyo
I took on board some of the suggestions and will limit myself to 10% a day risk. I'm trading with a relatively smaller account so this is acceptable for me. As it grows, I may tone down the risk a bit. First DAX trade today has not worked out - I can't really see too much wrong other than just being unlucky but happy to hear other people's thoughts. {image}
Hi Ivanyo,

It is extremely important to have trading rules in place now that you will also use when you have a bigger account.
To try and change later, is difficult.
A 10% max drawdown is huge methinks.
However, feel free to experiment........
  • #4,279
  • Edited 4:44am Nov 5, 2019 4:02am | Edited 4:44am
Quoting ichikuse
{quote} Hi Ivanyo, It is extremely important to have trading rules in place now that you will also use when you have a bigger account. To try and change later, is difficult. A 10% max drawdown is huge methinks. However, feel free to experiment........
The limitation now is that I can't even trade part contracts at my broker for DAX so a single contract is already more than 5% risk

Trade #2 - break even
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  • #4,280
  • Nov 6, 2019 10:39pm Nov 6, 2019 10:39pm
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good day for the hkg
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