I like trading 15m and compare it with the daily. But I havent used stop losses's yet because i simply like to watch and exit if i think its going to far out. I also like to scalp, and do short term trades because I dont like stressing about my money even if it gets another 20 pips ahead. Im not to sure what you mean by KS an a buffer. I am very new to all this
. As Vic always says, feel free to ask anything.The KS refers to the Kijun Sen which is explained on the first page of this thread. I have also pointed to the Kijun Sen in the chart below. 'KS + buffer' refers to moving your stop to the Kijun Sen line with an additional bit of room in case the price gets just past the Kijun Sen so you are not stopped out.
Based on the chart below, if you had entered a gbpusd long trade on the 4hourly signal at the possible entry point and exited once the price broke through the Kijun Sen, you would have picked up approximately 660 pips.
I've put a pending buy stop on the AUSUSD ... What are your collective thoughts? Be the Borg!
I will be waiting for a retracement either to 4hourly KS or Daily KS/weekly TS before entering a trade
. The main issue I have had with buy stop trades is that I tend to enter when they are getting tired, so I have been stopped out by pullbacks too often.Hence, my new mentality is to wait for signficant pullbacks.
No worries mate, I am pretty new to this too
The KS refers to the Kijun Sen which is explained on the first page of this thread. I have also pointed to the Kijun Sen in the chart below. 'KS + buffer' refers to moving your stop to the Kijun Sen line with an additional bit of room in case the price gets just past the Kijun Sen so you are not stopped out.
Thanks.
- #3,675
- Sep 23, 2009 2:07am Sep 23, 2009 2:07am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Hi Everyone
I'll be honest only just started this Ichimoku and although Ive managed to read quite a lot of the forum from the begining I am getting confused regarding what signals you guys are using. Your talking about the H1, H4 time frames etc etc.
So can we just clarify please what this has developed into. I thought we followed the H4 for trend confirmation an M5 for entry on cross over? But you guys are waiting for crosses on the H1 & H4 ?
Vic I thought you said early on that you had suffered quite a few losses using the the higher...
very clear that we have now to strategies
- Scalping using the 5 Mins
-Long term using the Higher TFs
so you may choose what suits you and go with it
when i suffered early it was due to playing the S/R game , now i am playing the signal on Higher TFs
and we already have our chat room mate
http://www.chatzy.com/366889644961
have a nice day
- #3,676
- Sep 23, 2009 2:19am Sep 23, 2009 2:19am
Hi everyone,
Here is the G/Y daily report attached.
Saw another fake out on this pair during the Asian session, stopping just short of my expected TP levels.
A BIG thanks again to Vic for producing this report while I was away (and squeezing out 100pips last friday when I was offline -
)
Let me know if you want to discuss anything further.
Cheers.
Here is the G/Y daily report attached.
Saw another fake out on this pair during the Asian session, stopping just short of my expected TP levels.
A BIG thanks again to Vic for producing this report while I was away (and squeezing out 100pips last friday when I was offline -
)Let me know if you want to discuss anything further.
Cheers.
- #3,677
- Sep 23, 2009 2:24am Sep 23, 2009 2:24am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Hey guys,
Iching my softly with his song, iching me softly...
Doc
cheers Doc
Hi Giny
Just a quick question with regards to the logic behind this trade. You entered based on the daily KS support. It seems to me that it's resistance but that's not my point. My point is why did you enter there when there seems to be no confirmation yet that the price is being pushed back. Or maybe you are seeing that confirmation, if so how and where?
Please don't take me wrong as I think this trade has a huge potential and ,for me, I think the confirmaton may come fairly soon but just want to know your angle on it.
You make an excellent point and I commend you on your analysis
.As Vic just mentioned, there are two types of trading styles now appearing on this forum, the short TF strong ichi signal and longer term using higher TFs.
The problem is, if you are watching higher TFs for signals, it may be 150 pips before your hourly, for example, is providing you with a strong signal as well! If you have a significant pullback on the daily, then you probably have a reversal showing on shorter TFs.
The way I trade the ichi is to use the strength of the 4hourly, daily and weekly support and resistance areas to allow me to enter trades at the top of pullbacks before they continue the trend. You are right in saying that there is no confirmation that price is being pushed back yet. However, the advantage of entering trades at these very significant areas of equilibrium is that the price tends to react to them very strongly and very quickly.
As a result, if you are careful, you can move your SL to breakeven very quickly, therefore protecting yourself, and then follow the pricing down or up very closely until your shorter confirmations appear. At this point, when other traders are starting to enter, you are already 50 - 150 pips in the green and you can sit back and watch your trade on the 4hourly, daily or weekly chart, knowing that because you entered at the top of a significant pullback, you can afford to move your SL down based on higher TFs and therefore maximise your profits significantly.
I will give you an example of a trade that I have on at the moment apart from the gbpusd. The chfjpy has bounced very clearly off the weekly ks which I missed
. However, the price has recently broken through the weekly TS and has just completed a very clear pullback to the 4hourly KS. You will note that 15min, 30min and hourly pricing hasn't even broken through the kumo yet, however, according to my charts, I should already be about 50 pips up on this trade by the time the confirmation emerges. Please see charts below and I hope I have explained my strategy.As always, particularly if you are trading live, please proceed with caution and keep in mind that I am not entering trades based on short term ichi signals.
- #3,680
- Sep 23, 2009 2:29am Sep 23, 2009 2:29am
Thanks Vic
Sorry to be a pain, but still not clear with the long time frames ?
Scalping = So we are using M5 to enter and H4 for trend direction ?
Other longer trades = And the H4 say for entry with the Daily to confirm direction?
Would that be a correct method?
Oh and thanks for the link to the chat room I only mentioned Skype as there were a few posts about Twitter !
Cheers Mate
ab1
Sorry to be a pain, but still not clear with the long time frames ?
Scalping = So we are using M5 to enter and H4 for trend direction ?
Other longer trades = And the H4 say for entry with the Daily to confirm direction?
Would that be a correct method?
Oh and thanks for the link to the chat room I only mentioned Skype as there were a few posts about Twitter !
Cheers Mate
ab1