Acumen's method is his own. You should develop your own method. If Acumen's tips help you, that's good, but ultimately you have to develop your own style. If you are new, there is a newbie discussion group on this site, but no one here will teach you everything you need to know.
- #43,304
- Nov 4, 2008 11:58am Nov 4, 2008 11:58am
Greetings. Hope everyone is having a good day. Was out all morning fulfilling my civic duty (voting and serving as an election judge). I see the EURO has developed some running legs. Gonna have to peruse the morning charts a bit closer, as I have no idea where this thing is going, not that it really matters (except for the next few minutes I might be in a trade 
).
).
- #43,306
- Nov 4, 2008 12:06pm Nov 4, 2008 12:06pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Greetings. Hope everyone is having a good day. Was out all morning fulfilling my civic duty (voting and serving as an election judge). I see the EURO has developed some running legs. Gonna have to peruse the morning charts a bit closer, as I have no idea where this thing is going, not that it really matters (except for the next few minutes I might be in a trade
Got my voting in and still managed to collect a bunch of PIPs today. Steep bullish price action was cool. Now I hope it will fall just as quickly!
I've been using one of your Ishimoku set-ups as part of my confirmation process. I like your idea of trading outside the cloud, but in a protracted run, it's about impossible to determine long-range destination and exit points with just this system. I say that, but then I recall you saying yesterday that you trade it exclusively, so how do you decide?
I've been relying on other charts, like my Fib chart (has about 4 fib set-ups from various time periods), along with psychs. Need to go read that website that CobraForex posted yesterday - http://www.kumotrader.com/ichimoku_w...itle=Main_Page.
Best,
Ed
Up or down, gimme a ticket
Greetings. Hope everyone is having a good day.
Was out all morning fulfilling my civic duty (voting ).
This is your civic duty...... VOTE.....
TY...
i am thinking we will see some contraction in the Euro this afternoon 2-4pm. that is what i am waiting watching for....
- #43,310
- Nov 4, 2008 12:42pm Nov 4, 2008 12:42pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Hi SpecialEd -- I've attached a longer term chart to show where the entry and exit point would be based SOLELY on the Kumo cloud (white arrows). My actual exit would have been a bit earlier (yellow arrow). Keep in mind, that I don't base my exits solely on the Kumo cloud, or any other indicator for that matter. And I certainly would NOT recommend that anyone use the Kumo cloud exclusively to make those kind of trading decisions.
It is a good TOOL that will provide you with SOME of the information you need to make an informed decision, but its only one component.
http://screencast.com/t/l4ylhzaN
Regards...
- #43,312
- Nov 4, 2008 12:52pm Nov 4, 2008 12:52pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #43,313
- Nov 4, 2008 12:52pm Nov 4, 2008 12:52pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Up or down, gimme a ticket
- #43,314
- Nov 4, 2008 12:55pm Nov 4, 2008 12:55pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Up or down, gimme a ticket
- #43,315
- Nov 4, 2008 12:59pm Nov 4, 2008 12:59pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #43,316
- Nov 4, 2008 1:02pm Nov 4, 2008 1:02pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
I saw a point on the Ichiwiki site that can be applied right now. I have been watching the PA in relation to the Kumo cloud and MA's. Everything on my chart pointed to going short but very little movement was made to the downside. As Ichiwiki suggested, I looked at the larger TF, 5 min, and found that the PA was butting up against THAT cloud, not visible on the 1 min. So it seems price respects the cloud very well, though if you aren't watching larger TF's you may not kow that it is.
- #43,318
- Nov 4, 2008 1:07pm Nov 4, 2008 1:07pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Up or down, gimme a ticket
- #43,319
- Nov 4, 2008 1:10pm Nov 4, 2008 1:10pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
I saw a point on the Ichiwiki site that can be applied right now. I have been watching the PA in relation to the Kumo cloud and MA's. Everything on my chart pointed to going short but very little movement was made to the downside. As Ichiwiki suggested, I looked at the larger TF, 5 min, and found that the PA was butting up against THAT cloud, not visible on the 1 min. So it seems price respects the cloud very well, though if you aren't watching larger TF's you may not kow that it is.
Up or down, gimme a ticket