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Ichimoku forever

  • #4,341
  • Sep 30, 2009 10:56pm Sep 30, 2009 10:56pm
Quoting 4xAddict
Hi Everyone,

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
lol . Good points 4x. Emotion is something to deal before the trade. I got bad trades sometimes because my emotion is .
Better a realistic small pip than a fantasy big pip
  • #4,342
  • Oct 1, 2009 12:20am Oct 1, 2009 12:20am
Quoting Iskander
thanks a lot man , ur input is priceless , regarding those 2 different entries , using standart 2-3% risk management rule , we could invest a lot more money using 5 min for entry , then lets say 4h since our SL is a lot smaller , so even if we sacrifice a few pips to get proper entry , our bigger lot size will more than cover that . Just a thought...


You are correct mate and therefore you make more per pip on your 50-60pip target.

There is not as large a difference in earnings potential as you may think between the fixed SL/TP method and the long TF trading method

Cheers.
  • #4,343
  • Oct 1, 2009 12:37am Oct 1, 2009 12:37am
Bearish side in a ranging market...
Attached File(s)
File Type: pdf USDCAD-daily-01-oct-2009.pdf   101 KB | 457 downloads
  • #4,344
  • Oct 1, 2009 1:12am Oct 1, 2009 1:12am
Quoting fxScavenger
Hey SM and 4x,

Good questions resulting in great answers, Thank you SM for asking and 4xAddict Thank you for answering.

I have one for you.

Say I see a good cross down on the H4, but I want to optimize my entry.

So I scan the h1 and then the 30m and so on til all my ducks are in a row.

Now, even though I'm trading the H4, I enter on the M5.

Since I'm playing the H4, shouldn't I use the H4 Kumo for my SL?
Hi FxScavenger,

If you are trading on the 4hr TF then you are likely in for a longer term trade position.

The way we normally do this is the watch the market, wait for it to break lower and then place the SL on the 4hr KS.

The 4hr kumo can often be between 100-300 pips away depending on the volatility of the pair you are trading.

For this reason good traders will often wait for the market to move in their direction without placing an SL until they feel it has started running enough to us the KS as their SL position. The 4hr KS is commonly around 50-60 pips away from the price action from the start so if you want to place a trade and then leave it and go do other things, using the 4hr kumo is fine however it depends on what your TP target is and should always be considered with regard to the RR ratio on your trade.

For example - if thee A/J 4hr kumo base is 250+ pips away from the price action and you are going long then you should at least have a TP target of 250+pips up.

The common mistake guys make is getting in on a longer TF trade and then jumping out early and saying you know what I've got 60-70 pips not I will cut and run.

The problem is that we rely on hitting our RR ratio TP targets to ensure that the next time we take on a trade with a 250pip SL risk and it fails that we at least break even.

If you are in for the long haul and you really believe you can take 250 out of a trade then it's a no branier, just jump in and use the 4hr kumo.

Make sure that you start moving you SL with the kumo though as the trade starts taking shape!

Cheers.
  • #4,345
  • Oct 1, 2009 1:22am Oct 1, 2009 1:22am
Quoting TheDirtySerb
Yup, I'm picking up what you guys are puttin down. See previous post.
Hi TDS,

You are correct. The much hugher probability trade here is the E/J short and in reality we are just seeing a small retracement in a longer move which is strongly supported on the longer TFs.

When the short signal arrives it will be a no brainer given the current long TF chart positions.

Cheers.
  • #4,346
  • Oct 1, 2009 1:38am Oct 1, 2009 1:38am
Quoting stevewide
How would you trade the perfect 1h cad setup when the 4h price was above its kumo? The day chart was perfect.

Thanks,

Steve
Hello Steve
at least i was going to be in the other 2 trades , but i missed them
I HATE MY JOOBBB
  • #4,347
  • Oct 1, 2009 1:43am Oct 1, 2009 1:43am
Guys

any one was in with me on the 4Hrs Cross ,better to stay aside now as we have an opposite cross , i know it is weak but we better save our money

cheers
Attached Image (click to enlarge)
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  • #4,348
  • Oct 1, 2009 2:08am Oct 1, 2009 2:08am
Quoting 4xAddict
Hi FxScavenger,

If you are trading on the 4hr TF then you are likely in for a longer term trade position.

The way we normally do this is the watch the market, wait for it to break lower and then place the SL on the 4hr KS.

The 4hr kumo can often be between 100-300 pips away depending on the volatility of the pair you are trading.

For this reason good traders will often wait for the market to move in their direction without placing an SL until they feel it has started running enough to us the KS as their SL position. The 4hr KS is commonly...
Really clear and to the point. As always your Explanations are gold and you generosity just blows my mind.

Thanks Bro.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,349
  • Oct 1, 2009 3:11am Oct 1, 2009 3:11am
Quoting ichidakiller
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
hi ichidakiller
i've never heard about something like that, could you write more about such tool?
regards
  • #4,350
  • Oct 1, 2009 3:21am Oct 1, 2009 3:21am
Quoting oromek
hi ichidakiller
i've never heard about something like that, could you write more about such tool?
regards
Lol - I think he was joking oromek!
Of course such a tool is possible but I doubt anyone's going to do that.
  • #4,351
  • Oct 1, 2009 3:34am Oct 1, 2009 3:34am
Quoting SanMiguel
Lol - I think he was joking oromek!
Of course such a tool is possible but I doubt anyone's going to do that.
maybe he was joking
but i'm just curious if something like that exist
regards
  • #4,352
  • Oct 1, 2009 3:36am Oct 1, 2009 3:36am
Hi Everyone,

here is today's G/Y daily report.

apologies to those of you who missed the report yesterday.

i decided to allocate more time to the chat room and answering threads yesterday so did not publish a report.

this is due also to the fact the the G/Y is currently ranging and working its way up to resistance again before giving us a new sell entry.

good luck today, hopefully there are a few opportunities that arise to take some green.

Cheers.
  • #4,353
  • Edited 4:03am Oct 1, 2009 3:42am | Edited 4:03am
Quoting oromek
maybe he was joking
but i'm just curious if something like that exist
regards
Hi Oromek,

It is possible to have a third party place trades on your account on your behalf through MT4 and several other platforms.

This function is available so that people can open accounts with brokers and then have their fund manager or expert forex manager place trades on their behalf.

It is also used for automated signals trading by a lot of people using EAs (expert advisors - which are automated trading systems run entirely by a computer with predefined logic) however, in my opinion EAs are dangerous because having a computer automatically placing trades with fixed logic in a dynamic ever changing market is a receipe for disaster

This function is already avaialble in MT4 and if we see a value to this down the road then we may consider this as an option however it would take some decent investment for us to get that up and running.

Although I'm pretty sure the guys weren't referring to this system

Cheers.
  • #4,354
  • Edited 4:20am Oct 1, 2009 3:47am | Edited 4:20am
Hello


Please check the USD JPY daily report , market still ranging, will be waiting for weakness signs to short again

have a nice day
Attached File(s)
File Type: pdf USDJPY-daily-01-OCT-2009.pdf   117 KB | 425 downloads
  • #4,355
  • Oct 1, 2009 3:57am Oct 1, 2009 3:57am
Quoting vic_elc
Hello


Please check the USD JPY daily report , market still ranging, will be waiting for weakness signs to short again

have a nice day
Morning all !

Thanks for the report, but dont get the comment on the Daily about waiting for a break below 98.5, its way below that....or am I missing something ?
  • #4,356
  • Oct 1, 2009 4:01am Oct 1, 2009 4:01am
Quoting 4xAddict
Hi Oromek,

It is possible to have a third party place trades on your account on your behalf through MT4 and several other platforms.

This function is available so that people can open accounts with brokers and then have their fund manager or expert forex manager place trades on their behalf.

It is also used for automated signals trading by a lot of people using EAs (expert advisors - which are automated trading systems run entirely by a computer with predefined logic) however, in my opinion EAs are dangerous because having a computer...
thanks for response, i will try to find some technical informations about it
regards
  • #4,357
  • Oct 1, 2009 4:02am Oct 1, 2009 4:02am
Quoting ab1
Morning all !

Thanks for the report, but dont get the comment on the Daily about waiting for a break below 98.5, its way below that....or am I missing something ?
Ooops , Sorry ab , my fault , am doing million things at the same time

I HATE MY STUPID JOBBBBBBB

i'll correct it now
cheers
  • #4,358
  • Oct 1, 2009 4:02am Oct 1, 2009 4:02am
Guys another example about the flat Kumo was the last GBP USD Pull Back
as you can see the future flat kumo attracted the price and then it started to trend down again
this areas can be considered as S/R levels and they are not that easy ones

have a nice day
cheers
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  • #4,359
  • Oct 1, 2009 4:09am Oct 1, 2009 4:09am
Quoting vic_elc
Ooops , Sorry ab , my fault , am doing million things at the same time

I HATE MY STUPID JOBBBBBBB

i'll correct it now
cheers
LOL....no worries !

What stupid job do you do I thought you were a trader ?.....or is that your stupid Job ....??
  • #4,360
  • Oct 1, 2009 4:22am Oct 1, 2009 4:22am
Quoting ab1
LOL....no worries !

What stupid job do you do I thought you were a trader ?.....or is that your stupid Job ....??
No am not full time trader so far , i hope it will be soon
am a communication Eng , and i can assure you that this is a stupid job
have a nice day
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