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Ichimoku forever

  • #3,861
  • Sep 24, 2009 9:34am Sep 24, 2009 9:34am
Quoting $maker
Sorry to hear that .. but i hope you didnt go red today.

Seems to me there might be a small pull back everywhere.. and then a big correction happening.... or for all you know the correction is on as we speak.......
Not in red but not in a trade too... I was waiting for the consolidation of USDJPY to pass and enter a trade and now it's going north... I was waiting for the AUDUSD to clean the H1 kumo to enter long and now it's going south... I think I'm gonna go for a drink... Hope everything's good for you...
  • #3,862
  • Sep 24, 2009 9:37am Sep 24, 2009 9:37am
Im off guys..
Warriors we need to get this thread moving....barely ppl on it ...kinda boring
  • #3,863
  • Sep 24, 2009 9:42am Sep 24, 2009 9:42am
Quoting SanMiguel
Equity will be larger because the re-entry will be on a shorter timeframe?
Hi SM,

A lot of us use a money management that puts a cap on the % of your account equity that you can have in any one trade.

For example. I have a max of 2% that I am willing to risk in any one trade. If I have a 100k account then I can only ever have 2k in any one position. I calculate how many lots are in 2K (lets say there are 2 lots where 1 lot = 1k) and then I will sell 2 lots of whatever pair that I am shorting - e.g shorting G/U like you have.

If it goes 240pips down and I make $10/lot/pip then I make $20 per pip on the move down. it moves 240pips and I bail looking for a new entry on the retrace. my account equity is now 100K + 20*240 - 104,800.

Now when I re-enter the new trade 2% of my account is $2096 so in the next trade I will buy 20.96 lots or maybe just 20.9 if my broker wont do 0.00 lot sizes.

It allows you to compound your trade profits so on the next trade you make $20.96/pip so the next 240pip drop will nett me $5030.18.

Also if you get out on a 240pip drop and then get back in on a 100pip retracement before seeing another 240pip drop you will actually make 480pips rather than 380pips had you just let it run.

Anyway, I look to start doing this when a pair has moved significantly past its normal trading range. 200pips on G/Y or G/U is realistic. Maybe 120-150 on the U/J would be enough for me to wait for a minor pull back.

Does that make sense?
  • #3,864
  • Sep 24, 2009 10:19am Sep 24, 2009 10:19am
Hi 4X

You seem like a guy that knows quite a bit....so I was going to attach a currency meter to my chart, not sure if you know the type. It basically monitors all currencies and tells you which one is being bought against which are not. There quite handy if your in a trade and you want to keep your confidence up, as at a glance you can confirm during a pull back that the market is still in your favour.....or not as the case may be....

Anyway...am I right in saying that thats what the Kumo can tell us ? Its depth tells us if there is strong volititly on the pair we are trading ? But not sure if it can react quick enough like the meter could.....


cheers


ab1
  • #3,865
  • Sep 24, 2009 10:44am Sep 24, 2009 10:44am
How much more can this GBPUSD drop today....................

Keep going baby... I got in early !!!!!!!!
  • #3,866
  • Sep 24, 2009 11:58am Sep 24, 2009 11:58am
Quoting ab1
How much more can this GBPUSD drop today....................

Keep going baby... I got in early !!!!!!!!
Apparently Mervyn King was quoted in a newspaper today as saying "It would be helpful for the pound to drop in value". As soon as the markets opened today...it plummeted. I bet they banked a lot of pips themselves on that one I'm glad I got some pips but this was a central bank intervention somewhere followed by a load of institutions dumping their trades. The GU simply does not drop 400 pips in 12 hrs under normal circumstances.
  • #3,867
  • Sep 24, 2009 11:59am Sep 24, 2009 11:59am
Hello Guys

sorry i was busy all day , i missed a lot of nice moves
any way wish that you all are doing good
i have created a group for us on FB so we might get to know each other
feel free to join

http://www.facebook.com/group.php?gid=154006605776

cheers
  • #3,868
  • Sep 24, 2009 12:17pm Sep 24, 2009 12:17pm
Quoting SanMiguel
Apparently Mervyn King was quoted in a newspaper today as saying "It would be helpful for the pound to drop in value". As soon as the markets opened today...it plummeted. I bet they banked a lot of pips themselves on that one I'm glad I got some pips but this was a central bank intervention somewhere followed by a load of institutions dumping their trades. The GU simply does not drop 400 pips in 12 hrs under normal circumstances.

I agree, but who cares if where all making pips !! Mervyn say more please....please !!!!!
  • #3,869
  • Sep 24, 2009 12:39pm Sep 24, 2009 12:39pm
Quoting 4xAddict
Hi SM,

A lot of us use a money management that puts a cap on the % of your account equity that you can have in any one trade.

For example. I have a max of 2% that I am willing to risk in any one trade. If I have a 100k account then I can only ever have 2k in any one position. I calculate how many lots are in 2K (lets say there are 2 lots where 1 lot = 1k) and then I will sell 2 lots of whatever pair that I am shorting - e.g shorting G/U like you have.

If it goes 240pips down and I make $10/lot/pip then I make $20 per pip on the move down....
Yes, that's how I calculate my risk as well though there is something to be said for holding onto the longer trades because with the waiting for a retrace comes a slightly increased risk that when entering another trade from the retrace all your stops are closer to the action and may get taken out, no? I suppose if we always use the same Ks as the reference...say the 4hr then there's no problem. I seem to prefer the 1hr, 4hr, and Daily timeframes. I know many like the 5min and 15min but I find these more risky sometimes.
  • #3,870
  • Sep 24, 2009 12:39pm Sep 24, 2009 12:39pm
morning Vic , great idea about facebook , ill join the group now
  • #3,871
  • Sep 24, 2009 1:02pm Sep 24, 2009 1:02pm
I've figured it out. I'm allergic to positive pips. That and I have to stay away from the NY session. I gave whatever I made during the night, back today on foolish foolish positions I need to be hit with a stick that says 'STAY OUT' when I don't have to be in
Hope others had better luck than me
  • #3,872
  • Sep 24, 2009 1:12pm Sep 24, 2009 1:12pm
Quoting fkforex
I've figured it out. I'm allergic to positive pips. That and I have to stay away from the NY session. I gave whatever I made during the night, back today on foolish foolish positions I need to be hit with a stick that says 'STAY OUT' when I don't have to be in
Hope others had better luck than me
i used to face the same all the time , London and NY are very hard sessions to work , better stick with Asian session for a while i can assure you it works good
cheers
  • #3,873
  • Sep 24, 2009 1:13pm Sep 24, 2009 1:13pm
Quoting vic_elc
i used to face the same all the time , London and NY are very hard sessions to work , better stick with Asian session for a while i can assure you it works good
cheers
I'm definitely starting to notice that. I've given back 200-300 pips over the past couple US sessions
  • #3,874
  • Sep 24, 2009 1:16pm Sep 24, 2009 1:16pm
Quoting vic_elc
i used to face the same all the time , London and NY are very hard sessions to work , better stick with Asian session for a while i can assure you it works good
cheers
Thats an interesting comment...I was lead to believe that the Assian session was the hard one due to low volatility....? Although saying that a lot of EA's only trade the Asian ??

May the pip be with you !
  • #3,875
  • Sep 24, 2009 1:19pm Sep 24, 2009 1:19pm
Quoting fkforex
I'm definitely starting to notice that. I've given back 200-300 pips over the past couple US sessions
then you should stop trading them now, relax may be you take the rest of the week off, start next week trading only during Asian using the 5 mins , don't rush things in pips will come sooner or later

have a nice day
cheers
  • #3,876
  • Sep 24, 2009 1:23pm Sep 24, 2009 1:23pm
Quoting ab1
Thats an interesting comment...I was lead to believe that the Assian session was the hard one due to low volatility....? Although saying that a lot of EA's only trade the Asian ??

May the pip be with you !
i used to believe in this till one of the BIIGG BOYYZZ told me something interesting about London and NY session , he told me this sessions were made for the big money and if you think big money work the way we do then you are completely wrong, those guys don't use charts the way we do , they don't even care about charts , they only think it fundamental and when they see that the pic is ok for them they just click the order and the market starts to move, they look for round numbers only they don't follow any trend , they build the trend

now what we have seen this week proves these words ,, they don't follow teh trend they build the trend

have a nice day

cheers
  • #3,877
  • Sep 24, 2009 1:29pm Sep 24, 2009 1:29pm
Vic u mean they initially buy or sell billons of certain currency , and after that traders , investors follow them , and trend continues ?
  • #3,878
  • Sep 24, 2009 1:29pm Sep 24, 2009 1:29pm
Quoting vic_elc
i used to believe in this till one of the BIIGG BOYYZZ told me something interesting about London and NY session , he told me this sessions were made for the big money and if you think big money work the way we do then you are completely wrong, those guys don't use charts the way we do
Fully support that comment Vic, we are all but parasites jumping on the back of the big boys who control the movement of money !

Just try to get in early if you can....Ichimoku I think gives you the best oppertunity for that.

cheers


ab1
  • #3,879
  • Sep 24, 2009 1:31pm Sep 24, 2009 1:31pm
But Vic, This means if we only trade the asian, we can no longer hold long term trades, as they will overlap into the Asian session!
  • #3,880
  • Sep 24, 2009 1:32pm Sep 24, 2009 1:32pm
Quoting Iskander
Vic u mean they initially buy or sell billons of certain currency , and after that traders , investors follow them , and trend continues ?
yes correct Iskander, they do there hit they build the trend and then we follow them
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