Ichimoku forever

There might be a good entry on the U/J 30min. Cross potentially coming. Let me know what you think

Hi Everyone,

Just wanted to know how many pips you target as your tp when you enter this trades.

Regards.

yes I know Ishould to read from the 1st page.. but I know something, as I do not know something. I have read a lot of set ups for ichimoku and still think that 9-26-52 is probably the best one...
Anyway, people said, 120-240-480 for 1H is very profitable... Did u anybody using this setting up?

feri, we only use the normal settings here..

cheers

If we enter a trade on the 5min timeframe, do we trail by the 5min Ks or the 1hr Ks?
My understanding (correct me if I am wrong) is that Bull's trades from Friday were entered on the 5min timeframe and trailed by the 5min Ks whereas 4xaddict might enter on the 5min timeframe but trail by the 1hr Ks?
Is this correct?

here's a fresh 5m ts/ks cross of Eur/Aud. I entered yesterday at the 1h cross but it might pay more.

Good luck and God bless you,


Steve

It is not a complete signal yet. Take a look at the CS and a very flat KS.

EURAUD looks like a lot of crosses have happened

Anyone else have any input?

See how i missed 3 entries today because of my stupid Job

I am looking at the USD/CAD on 5M and 1H chart and it seems there will either be a pull back possibly all the way up to 1.0734 or there will be a TS KS 5M cross down which should resume the trend. What do you think Vic?

Vic this is annoying, I have had the same problem

Although AUDUSD maybe making a cross on the 30m TF

This is why we need a demo account for the Kumo warriors so with a MT4 copier we can copy trades automatically from the main Kumo Warriors MT4 account to our own broker account without even being at the computer.

Never miss a trade again

...will try to be more careful next time. Thanks for pointing out the obvious. I didn't take this trade or I'd looked closer.

Thanks,
Steve

How would you trade the perfect 1h cad setup when the 4h price was above its kumo? The day chart was perfect.

Thanks,

Steve

Would this be a completely different beast as the price seems to be ranging? Or do the same kind of rules apply?

Question about USDCAD.
The 1hr cross occurred many hours ago.
We now have a retrace to the Ts on the 15min chart but the Ks is flat.
Could we re-enter here? If not, when would we re-enter because the Ks may start moving down at some point.

Edit: I'm just asking from a practical point of view. Imagine that chart didn't have a timeframe and you saw this pattern on it. Would it be an entry or would we be worried about the retrace possibility?

http://www.sidekicker.net/Ichi/USDCAD_20090930_1.jpg

I am waiting for it on the 5M chart. This is what it will have to happen for me to jump in: TS crosses KS from the top, CS below the price and KS pointing down.

Also, there might be a bigger pullback like I mentioned a few posts ago.

I'd personally be worried about the retrace, especially since the last candle is bullish. I wouldn't be able to make a wise choice by just looking at the 15M chart.

Yes of course but generally, the Ks is almost always going to be flat on at least 1 of the higher timeframes.
If we wait for price to move then retest the Ts and a close under before entering, then the Ks is going to indicate a retrace somewhere else.

That is why I like to look at the specific entrance TF. So in this case, as indicated on your picture we see that the price retraced to the TS (At this point it is well above the TS - see picture). Then I would go to the 5M chart and wait for the TS and KS cross. I would want for the KS not to be flat on the 5M chart and at this point I wouldn't worry about the 15M chart anymore. So if the 15M KS is flat, so be it.

I wish that some other more experienced traders would chime in. I could be totally wrong.

http://img18.imageshack.us/img18/3479/15mchart.th.jpg

Hi Everyone,

SanMiguel has brought up a great point here and I think it needs to be elaborated upon so that all of our newest traders can make the distinction very clearly between the two methods that we endorse on this thread.:nerd:

I agree with SanMiguel's comments, however in this case and especially when using a lower TF entry signal the thickness of the kumo is always an important consideration before entering a trade. There has not been one valid 5min signal to enter today - not one!

Set Target Trading with Lower TF Entry
When we enter trades on the lower TFs (I personally like the 5min TF) we are aiming for a 1:1 or better RR ratio. The target is always 50pips or more so the SL will usually be 50 pips from entry.

The trades that people took today on the U/J using a 5min entry signal simply were not good trades which is why people saw losses. Even if the SL had been put on top of the 1hr kumo it still would be a loser because there is not enough sentiment in the market at the moment. That is why the kumo is so thin.

When using a lower TF (e.g 5min) entry you should only enter when the TS/KS closes below the 5min kumo and the most recent 5min candle has closed below the TS and the chikou is below the price action etc etc (it is all in the first 10 pages of how we quantify a strong signal) and it will work. Today this has simply not occurred which is why trades have gone -ve.

Unless all of the criteria are followed and satisfied there is a high likelihood that the trade will not eventuate.

Please understand that when I talk about trades to everyone on FF I try to provide a set SL point and a set TP target so that all of our new traders can make successful trades and can see the results fast (within a few hours). This helps everyone build up confidence and also manages new traders cravings to follow the charts without stressing them out.

By using this method it also helps with learning money management and risk management because you need to evaluate risk reward ratios, calculate your maximum trade size position and most importantly follow a very clear system for trade entry!

Long TF Trading
Now, Vic is a great trader!! When he enters a trade like he did today he is taking a long term trade and is using points of S/R on the longer TFs (kumo tops, KS's combinations of S/R points across different TFs) as his SL and TP guide.

This method makes great money and is a low stress less time intensive method. This method however often causes large account draw-down periods before trades become successful.

I find that new traders regularly feel lost and get very concerned immediately after trade entry because they are not confident and find it difficult to see the risk and potential reward without clearly defined limits.

When new traders start to get nervous the following things start to happen and if you have read the thread then I am sure you will have come across heaps of posts that say the following things:

1. "Got in to this trade but decided to scalp my 15pips because it looked like it was going backwards..."

2. "I got out because it went to -10pips and I thought it was going to hit my SL..."

3. "..Damn it I should have waited the price action has just gone down massively and I would have made 136pips "

etc etc etc

So, let's make sure everyone is clear on what they are trying to achieve.

For everyone who is comfortable taking long TF trades with Vic and your are comfortable having 150-200pip drawdowns (and potentially losses) that will/not may occur using this method then please enter on the longer TFs and play the game as he does.

For everyone else who is new, prone to stress or just freaks out when their trades start going the wrong way 15-20pips then you will feel a lot more comfortable following the trade suggestions that I monitor with smaller SLs and fixed TP targets.

By the way it's not wrong to feel this way, it's human nature and is a natural reaction that all traders have new and old.

This is a less stressful, yet still profitable way to trade while building up your confidence to take on the market with greater exposure!

We will often end up entering the exact same trades that the guys do on the longer TFs however it will be with a more accurately measured entry point to minimize your potential drawdown - essentially making your cost of trading cheaper.

Neither method is better or worse than the other because they serve different trader types.

But please everyone, understand that there is a clear difference between methods so you should only choose one when you are starting out!

I am currently writing a risk management, money management and trading psychology document to supplement the new ichi system guide and trading strategy work that Vic and Bull have done so that you can all get another great source of information.

Until this time just take it easy and make sure that once you choose a particular trade type that you stick with it. It does not mean that you can't change between methods it only means that you can NEVER swap methods after you have entered a trade

Hope you've all made a couple of pips today and to those who are down some, it wont be long until we have some great new positions open so there's nothing to be concerned about.

take care

4x.