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Ichimoku forever

  • #1,521
  • Sep 5, 2009 5:17pm Sep 5, 2009 5:17pm
Thanks for your response! I am trying to get upto speed on this thread

Quoting vic_elc
helloo

here is a copy from the ones on my MT4, hope it will work probably with ur mt4

have a nice weekend
Its all in the mind.
  • #1,522
  • Sep 5, 2009 5:42pm Sep 5, 2009 5:42pm
what is the significance of chinkou span? This I understand is price 26 bars behind...?
As I see it on the blue box for the GJ 5 Min chart, will be a buy signal? Am I in the ballpark?

Thanks...
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Its all in the mind.
  • #1,523
  • Sep 5, 2009 5:49pm Sep 5, 2009 5:49pm
Quoting 5abi
what is the significance of chinkou span? This I understand is price 26 bars behind...?
As I see it on the blue box for the GJ 5 Min chart, will be a buy signal? Am I in the ballpark?

Thanks...
you may check p7 post 94 it will give u a clear idea of the usage of the Span , also i encourage you to read the first 10 pages of the thread you will find answers for all the questions in your mind now, once you finish them jump to the last page again and follow up with us
have a nice day
  • #1,524
  • Sep 5, 2009 6:15pm Sep 5, 2009 6:15pm
Quoting golferfx
As you may see from my very first post on the thread I trade the Usd/Cad quite a bit..

I have posted these charts because I feel we are at a very good trading opp in the pair. I do not trade anything lower than a 4 hr but their are some great CT trades for the ambitious and for the trend traders...like taking candy from the baby.

Weekly; TS & KS cross a while back...big drop off. Price retreated into cloud which if I recall was a 50% pullback from the daily at 1.1700's. TS is at 1.1170's which is a very interesting point as we have weekly prices...

I do pay attention to this trade. Thanks for your careful analysis. Might bite on the daily possibility.

-- Forest
  • #1,525
  • Sep 5, 2009 6:38pm Sep 5, 2009 6:38pm
Quoting Forest-Sea
I do pay attention to this trade. Thanks for your careful analysis. Might bite on the daily possibility.

-- Forest

Hey Forest my man....if I would be CT I would look at 1.0900 area and pip meself 200 or so...its up to you or or M /M. As Vic would say...he's a scalper...I'm a pip grabber
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  • #1,526
  • Sep 5, 2009 6:54pm Sep 5, 2009 6:54pm
Or maybe a real long term view!!!! Who knows...trade what you see!!!!
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  • #1,527
  • Sep 5, 2009 7:31pm Sep 5, 2009 7:31pm
So where do we think prices might go? Keep on eye on Chinkou span...she will let you know.
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  • #1,528
  • Sep 5, 2009 7:45pm Sep 5, 2009 7:45pm
Quoting 5abi
Thanks for your response! I am trying to get upto speed on this thread
I am glad to see you in this thread. You are a respected poster and I have followed your comments from time to time. Let me asure you of one point: Ichimoku allows you to see more than regular charting systems. I hope you find it helpful.

Please read this : http://www.kumotrader.com/ichimoku_w...itle=Main_Page

Feel free to post your thoughts and charts, ask anything you wish and we will try to answer it for you.

As you will discover-Ichi has a lot of the other technical studies covered-from waves to pivots. It is a complete system. I am learning every day and I know I will learn from you as well.

Welcome aboard and feel free to comment on the pairs you trade.

We are not shy to call out potential set ups that may occur. (trade at your own risk)
  • #1,529
  • Sep 5, 2009 8:35pm Sep 5, 2009 8:35pm
Thanks for your kind words. There are few threads here on FF which make a lot of sense, this being one of them. You guys are doing a great job-best wishes!

Different folks will use this differently...Look at the attached chart- you will notice why this thread makes a lot of sense to me. Trading is like a blackbox and you aim to see through it. There are many things that move the market- and I am least interested in what moves it, all I care is that I be there and see when that move is happening. I am a part time trader, and I only get to trade a couple of hours during asian open and a couple of hours before US open.

As you can see in the chart, I exploit daily and weekly pivots a lot to my advantage. Many times, Asia opens at or near the daily pivot. Ichimoku can help me make even more educated decisions aiding in my trading method.

The experts will see what I mean just by looking at the chart, newer traders just need to know that pivots have already provided a good support and resistance, a quick glance at the Ichi will tell you even more certainly where the market is headed. Works very well on the H1 and M15 Time frames. Count how many pips you would have made this last week alone on this pair

Thanks again for the great job!

Quoting calderone
I am glad to see you in this thread. You are a respected poster and I have followed your comments from time to time. Let me asure you of one point: Ichimoku allows you to see more than regular charting systems. I hope you find it helpful.

Please read this : http://www.kumotrader.com/ichimoku_w...itle=Main_Page

Feel free to post your thoughts and charts, ask anything you wish and we will try to answer it for you.

As you will discover-Ichi has a lot of the other technical studies covered-from waves to pivots. It is a complete...
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Its all in the mind.
  • #1,530
  • Sep 5, 2009 9:13pm Sep 5, 2009 9:13pm
GJ trade may be closer. I plan to open a short GJ at 52.5 and another lot at 53.25. S/L at 153.75. See attached.

Similar short for GU at 64 and 64.5 with stop at 64.95.
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Its all in the mind.
  • #1,531
  • Sep 5, 2009 9:27pm Sep 5, 2009 9:27pm
Hey, Golferfx . . .

You're not a pip grabber from the look of your charts, you're a pip gorger!

Well done.

-- Forest
  • #1,532
  • Sep 5, 2009 9:38pm Sep 5, 2009 9:38pm
Hey guys,

Giny and I were talking and we want to float a modification of the Ichimoku rules, specifically the entry/exit signal on the 5 minute.

It's based off some of the discussions we were having on the forum, and after a little back testing using PipDreamz great script, we offer it here for discussion/debate.

Entry is the same as normal, except we add a filter for the entry on the 5 minute:

- wait for the standard long/short signal as per normal rules

- ENTRY: If you going long, wait for the latest candle to close above the TS line (on the 5 minute TF) after the cross... alternatively if you're going short, wait for the latest candle to close below the TS line after the cross (5 minute of course).

- EXIT: If your going long, any candle that closes beneath the TS on the 5 minute chart is an exit signal (and visa versa for shorting).

These mods to the original rules effectively cuts your losses and maximizes your profits when the price takes off in the direction of the trend.

What do the more experienced Ichimoku traders think about this? What is your experience?

God bless,

Giny and Doc

PS So these mods came about through a number of false or late entry and exit signals using the original rules.
  • #1,533
  • Sep 5, 2009 9:58pm Sep 5, 2009 9:58pm
Hey guys,

As per our rules, we posted an example below. Here is how we would have traded according to our rules:

1) Our first short would have been on the 1st purple line, after the candle closed below the cross.

2) We then got an exit signal at the second purple line when the candle closed above the TS line. This turns out to be a gain of 5 pips, but this gain is cancelled out by the spread on this pair.

3) We then would have reentered at the third purple line as the candle close below the TS.

4) Our final exit signal was 68 pips down, when the candle closed above the TS line.

Important thing that we found was the you must stick to the original rules without or with minimal exception.
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  • #1,534
  • Sep 5, 2009 10:45pm Sep 5, 2009 10:45pm
Quoting drwasho
Hey guys,

As per our rules, we posted an example below. Here is how we would have traded according to our rules:

1) Our first short would have been on the 1st purple line, after the candle closed below the cross.

2) We then got an exit signal at the second purple line when the candle closed above the TS line. This turns out to be a gain of 5 pips, but this gain is cancelled out by the spread on this pair.

3) We then would have reentered at the third purple line as the candle close below the TS.

4) Our final exit signal was 68 pips down,...
There is merit in this method, especially if you don't like looking at drawdown. In this example it is clear you have a good signal and your stop would be protected by the kijun sen-you would have been ok but how could you know it at the time-so I see the logic. I agree completely that a strong signal is worth waiting for and anything that involves risk management I am all for. The exit is logical as well, in some pairs I recommend closing half and moving the stop to let it ride but this is a worthy option.
I commend you for sharing this and I certainly like your exit in that it is an option for a set tp.

Cheers! Keep up the good work.
  • #1,535
  • Sep 5, 2009 11:21pm Sep 5, 2009 11:21pm
Quoting 5abi
GJ trade may be closer. I plan to open a short GJ at 52.5 and another lot at 53.25. S/L at 153.75. See attached.

Similar short for GU at 64 and 64.5 with stop at 64.95.
4hr a bit mixed, daily chart seems a bit mixed span b may hold if tested. I expect something of a correction on the daily and the 4hr is in the cloud. Maybe the tenken-sen will flatten out a bit. I will be watching the first 2 sessions to see what develops.
Watch for the cross on the 1 hr and rejection in the kumo on 4 hr.
  • #1,536
  • Sep 6, 2009 2:17am Sep 6, 2009 2:17am
Quoting calderone
There is merit in this method, especially if you don't like looking at drawdown. In this example it is clear you have a good signal and your stop would be protected by the kijun sen-you would have been ok but how could you know it at the time-so I see the logic. I agree completely that a strong signal is worth waiting for and anything that involves risk management I am all for. The exit is logical as well, in some pairs I recommend closing half and moving the stop to let it ride but this is a worthy option.
I commend you for sharing this and I...
Thanks mate, appreciate the comments.

We're definitely not trying to present any trading method as gospel or anything like that... Giny and I will be trying to trade using these particular rules this week.

Personally I've found that I haven't been particularly aggressive with my demo account this year... on one side, this was because I was attempting to truly simulate how I would behave with 'real' money on a live account. On the other hand, this hasn't really given me the opportunity to learn by experience as much as I should have. So we'll see how it goes.

The other thing as well is, I've seen some of the other guys enter into trades that don't exactly follow all of the rules set out in the first post of the forum... of course their free to do that, but it's just a little confusing for a guy like me who's trying to get to know the Ichimoku system.

Anyway, we'll all learn together!
  • #1,537
  • Edited 3:13am Sep 6, 2009 2:18am | Edited 3:13am
Quoting drwasho
Hey guys,

As per our rules, we posted an example below....

Doc nice work man
but what about making the exit after a close above the Ks
a lot of people do the same and it is reasonable more than the close above Ts , what do you think , try to test it like this and advise me back
cheers Doc
  • #1,538
  • Sep 6, 2009 2:28am Sep 6, 2009 2:28am
Quoting vic_elc
Doc nice work man
but what about making the exit after a close above the Ks
a lot of people do the same and it is reasonable more than the close above Ts , what do you thing , try to test it like this and advise me back
cheers Doc
Sure no worries. I'll backtest your suggestion and get back to you.
  • #1,539
  • Sep 6, 2009 4:26am Sep 6, 2009 4:26am
Quoting vic_elc
Doc nice work man
but what about making the exit after a close above the Ks
a lot of people do the same and it is reasonable more than the close above Ts , what do you think , try to test it like this and advise me back
cheers Doc
I agree with using the Kijun (and not the Tenkan) as the exit signal.

I also find that using the 20EMA is also good; the price will tend to crossover the 20EMA before the Kijun, so that's another earlier signal.

Once price action crosses both 20EMA & Kijun, for me it's definitely the time to exit.

Chngster
Attached Image
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #1,540
  • Edited 6:04am Sep 6, 2009 4:26am | Edited 6:04am
A warrior is a hunter. He calculates everything. That's
control. Once his calculations are over, he acts. He lets go.
That's abandon. A warrior is not a leaf at the mercy of the wind.
No one can push him, no one can make him do things against himself
or against his better judgment. A warrior is tuned to survive and
he survives in the best of all possible fashions.

WATCH OUT BIG BOYZZ THE KUMO WARRIORS ARE OUT
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