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Ichimoku forever

  • #1,941
  • Sep 9, 2009 9:26am Sep 9, 2009 9:26am
Quoting $maker
I had shared a story yesterday... about how i lost 1000$ and then a few more hundred dollars to half my account..

I lost those few hundred dollars by getting on to trains that had already departed only to see thier reversal bite me in the ass..

I am gonna go slow till i recover.. and only take entries when it is the right time.
You may want to consider leaving your account alone for a week or two and demo trading. I blew up 5 accounts in the last year (luckily micro accounts), it took me a long time to get my disclipline together. Emotional trading is dangerous.

I have a sign on my wall which says "Identify Greed As It Arises", it has been very helpful to notice when I feel greedy and want to take too large of positions or "get my money back", greed is the killer...
  • #1,942
  • Sep 9, 2009 9:26am Sep 9, 2009 9:26am
Quoting calderone
I had just gotten up and was trying to focus my eyes then! lol You made a great call on yen yesterday if I remember correctly. You are doing well!
Thanks mate... hopefully these rules turn out to produce consistent profits and 'good calls'.

Actually this brings up something that I think we should start talking about: realistic account growth plans. I think someone posted their excel spreadsheet last week, maybe we should discuss this sort of thing more?

God bless,

Doc
  • #1,943
  • Sep 9, 2009 9:26am Sep 9, 2009 9:26am
Quoting $maker
I had shared a story yesterday... about how i lost 1000$ and then a few more hundred dollars to half my account..

I lost those few hundred dollars by getting on to trains that had already departed only to see thier reversal bite me in the ass..

I am gonna go slow till i recover.. and only take entries when it is the right time.
very simple it is a matter of S/R range and as long as u can see a space to run u can always jump with it till the next S/R and jump out awaiting a break or a rejection, but never enter against the main trend

cheeers
  • #1,944
  • Sep 9, 2009 9:28am Sep 9, 2009 9:28am
Hey guys,

Doing a bit of research and I found an Ichimoku alert indicator here:

Ichimoku Alert

It's not as sophisticated as the one Wolfan and I were talking about, but I guess it's a start.
  • #1,945
  • Sep 9, 2009 9:32am Sep 9, 2009 9:32am
Quoting drwasho
Thanks mate... hopefully these rules turn out to produce consistent profits and 'good calls'.

Actually this brings up something that I think we should start talking about: realistic account growth plans. I think someone posted their excel spreadsheet last week, maybe we should discuss this sort of thing more?

God bless,

Doc
Doc

it was chngster who shared this file , i uploaded it in the resources folder@4shared , also i agree with in talking about accounts, i am going to prepare some thoughts tomorrow and will start sharing them before the end of the week . we all no trust the system and well understand it and we all are making pips for a month now , so it is time to think big and start managing money and risk and accounts . keep it up Doc

God Bless
  • #1,946
  • Sep 9, 2009 9:35am Sep 9, 2009 9:35am
Quoting drwasho
Thanks mate... hopefully these rules turn out to produce consistent profits and 'good calls'.

Actually this brings up something that I think we should start talking about: realistic account growth plans. I think someone posted their excel spreadsheet last week, maybe we should discuss this sort of thing more?

God bless,

Doc
Yes, one should have realistic goals. Risk is relative to the individual but we should all have a solid plan.

My trade plan which is specific to me allows for me to walk away after one trade. I do not chase trades anymore or over trade. It was a personal thing for me. I like to get in and out. lol
  • #1,947
  • Sep 9, 2009 9:39am Sep 9, 2009 9:39am
Get Ready Big boys for the AUD USD

Chart speaks

how many deals done for today , how many green pips hehe
loving Ichi like crazy
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  • #1,948
  • Sep 9, 2009 9:41am Sep 9, 2009 9:41am
also the GBP USD is in a good shape , been fighting this resistance for a while and i think USD is ready now to fall more

can some one count those lovely trades during this lovely week hehe
cheeers
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  • #1,949
  • Sep 9, 2009 9:54am Sep 9, 2009 9:54am
Quoting vic_elc
Get Ready Big boys for the AUD USD

Chart speaks

how many deals done for today , how many green pips hehe
loving Ichi like crazy
Nice one.. i never do aud usd...will do it now.. looks very nice to get in
6 mins and we should have a cross
  • #1,950
  • Sep 9, 2009 9:57am Sep 9, 2009 9:57am
Quoting vic_elc
also the GBP USD is in a good shape , been fighting this resistance for a while and i think USD is ready now to fall more

can some one count those lovely trades during this lovely week hehe
cheeers

yes but be vary of 1.66 levels... been a strong resistance
  • #1,951
  • Sep 9, 2009 10:00am Sep 9, 2009 10:00am
OMFG WOW!!!!

I left to play golf about 30 mins before US open so set a conservative TP @92.07 on the U/J from about 92.40.

Considered shorting U/CAD and E/Y however thought better of it as I hadn't quite seen the candles yet.

That was a really expensive round of golf

At least you guys have become millionaires this afternoon!!

Will keep looking for possible re-entry points however a little hesitant after such nice gains to jump in without letting it settle a bit again.

When ichi smells a trend, lookOUT!

Cheers.
  • #1,952
  • Sep 9, 2009 10:02am Sep 9, 2009 10:02am
From now on.. we will refer to ichi as Mrs. $maker ... only if she was alive
  • #1,953
  • Sep 9, 2009 10:02am Sep 9, 2009 10:02am
Quoting 4xAddict
OMFG WOW!!!!

I left to play golf about 30 mins before US open so set a conservative TP @92.07 on the U/J from about 92.40.

Considered shorting U/CAD and E/Y however thought better of it as I hadn't quite seen the candles yet.

That was a really expensive round of golf

At least you guys have become millionaires this afternoon!!

Will keep looking for possible re-entry points however a little hesitant after such nice gains to jump in without letting it settle a bit again.

When ichi smells a trend, lookOUT!

Cheers.
this why i hate Golf
  • #1,954
  • Sep 9, 2009 10:09am Sep 9, 2009 10:09am
Quoting $maker
I had shared a story yesterday... about how i lost 1000$ and then a few more hundred dollars to half my account..

I lost those few hundred dollars by getting on to trains that had already departed only to see thier reversal bite me in the ass..

I am gonna go slow till i recover.. and only take entries when it is the right time.
Hey $maker,

Everyone's blown up an account (if they haven't then they are lying to you).

From experience however, it is never the same trading demo as it is with your own hard earned as you always think that little bit harder and are willing to second guess your judgement or try to jump in quick to regain recent losses when using your own money.

Just use the minimum lot sizes possible. This way you can control your leverage which is the thing that really causes accounts to blow up! That's the cunning stunt that many retail brokers pull - "Hey come join us, you can have a mini account with as little as US50 and leverage of up to 500:1".

What this means is come gamble with your money in the forex casino and we'll give you a credit line of 500 times what you have in your pocket, so you can win massively.

It should really work the other way, the more you have the more leverage that is available. This way it removes the inclination to go punting to try and double your account in a matter of weeks.

If you use the absolute min lot size, you can still at least get a return for your efforts.

Also, if you are battling with controlling the urge to trade make sure that you only ever trade a suggestion that the guys in here are using. That way you know there is plenty of research behind it and that there will likely be a few each day to satisfy your need to trade (hey everyone here has it!).

After a couple of weeks you'll be back on deck and ready to tackle things again.

The hardest time is when patience is required due to a quiet market - like the last month! Everyone goes looking so hard their eyes start seeing things that aren't there.

Then a day like today occurs and you realise that patience and keeping enough money in the bank so you can be in the game when in really moves is all that matters.

Best of luck with it.

Cheers.
  • #1,955
  • Sep 9, 2009 10:27am Sep 9, 2009 10:27am
Hello,

Great thread.. I've enjoyed the education into this method.

Anyone taking this E/J 1m long?

revrobwimb
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  • #1,956
  • Sep 9, 2009 10:37am Sep 9, 2009 10:37am
Quoting revrobwimb
Hello,

Great thread.. I've enjoyed the education into this method.

Anyone taking this E/J 1m long?

revrobwimb
Hey,

Not just yet. We use at least the 5min chart as our immediate entry point confirmation against the longer TF's.

The 15min TS has crossed down with it's face buried in the kumo and the 30min is flat along the KS.

Also the chikou on each of these is substantially below the price curve.

My take is that we wont see any potential bullish entry point below 134.00 and there is some decent resistance to the upside so be careful if you do jump in.

Normally one of the guys here who is covering the E/Y will post entry suggestions before we jump.

Good to have you round.

Cheers.
  • #1,957
  • Sep 9, 2009 10:47am Sep 9, 2009 10:47am
Look at this level: 1.07465

Flat TS on H4 chart
Flat KS on H1 Chart
Senkou B on M30 Chart

If this is not a support ...
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  • #1,958
  • Sep 9, 2009 10:56am Sep 9, 2009 10:56am
Quoting wolfan71
Look at this level: 1.07465

Flat TS on H4 chart
Flat KS on H1 Chart
Senkou B on M30 Chart

If this is not a support ...
Sure does!

If it gives way then it may just become pay day
  • #1,959
  • Sep 9, 2009 11:13am Sep 9, 2009 11:13am
Quoting wolfan71
Look at this level: 1.07465

Flat TS on H4 chart
Flat KS on H1 Chart
Senkou B on M30 Chart

If this is not a support ...
Hi Wolfan, your example it's perfect!!

This is the reason why we said in a several times that we must to wait in any retracment, and also the Big Value of this System and how gives us a better point of view of the price action.

Today was a very very nice day to all of us following one of the better systems.

We'll keep collecting pips!!!
  • #1,960
  • Sep 9, 2009 12:07pm Sep 9, 2009 12:07pm
Quoting fxriddle
Hi you say you got stopped out at b/e. Did you use 50 pips sl and 50 pip tp and when did you move stop loss to breakeven?

How did you do it if that's not the case?

How do others do it?
Hey Riddle,
I personally use a 30pip Sl and 75pip TP for my initial entry...
As there was no volatility in the euro session last night my trade went nowhere for a few hours.. (the most it gained was around 13pips)...
So I manually moved my stop to B/E... The stop was eventually hit..
Attitude can reflect outcome in life and trading!
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