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Ichimoku forever

  • #5,401
  • Oct 21, 2009 9:58am Oct 21, 2009 9:58am
Guys i'll tell you the rules i use in my MM and RM they might help you a little

i never exceed 2.5% of my account in opened positions
for 3 weeks i started to divide the 2.5% into 3 positions
40% + 40% + 20% = 2.5%
i use the 20% in the positions that looks more risky or in the pairs which am not familiar with.
i use the 40s in the low risk positions and JPY cause i have be following it for a long time now

i try to take position that meets at least 1:1 risk reward ration

my situation today is as follow
20% EUR GBP -66
40% EUR JPY in the green
40% USD JPY in the green

i am covered my day is done thanks for the MM

i really wish you all the best
  • #5,402
  • Oct 21, 2009 10:11am Oct 21, 2009 10:11am
samer tearing em up!
  • #5,403
  • Oct 21, 2009 10:28am Oct 21, 2009 10:28am
vic
may i ask you why daily reports has stoped ?? and where are these warriors who used to deliver these reports every day ? they have given to this thread a lot and we dont see most of these guys anymore .
regards
  • #5,404
  • Oct 21, 2009 10:30am Oct 21, 2009 10:30am
Quoting vic_elc
Guys i'll tell you the rules i use in my MM and RM they might help you a little

i never exceed 2.5% of my account in opened positions
for 3 weeks i started to divide the 2.5% into 3 positions
40% + 40% + 20% = 2.5%
i use the 20% in the positions that looks more risky or in the pairs which am not familiar with.
i use the 40s in the low risk positions and JPY cause i have be following it for a long time now

i try to take position that meets at least 1:1 risk reward ration

my situation today is as follow
20%...
Hi vic,

I'm currently experimenting with my money management. My thoughts are if you are mostly winning, then you are missing profits by being conservative. i.e. you can bet more to make more.

For this reason, I have different accounts set for different risks. For experimentation purposes only, I have set up a $100 account to try out my very risky strategy of betting 70-90% of max available units per trade. So far, I am sticking to my best pair, EUR/USD, and coming out on top by 36% just this week in 3 days. The possibilities seem great when one thinks of compounding, but there is always how detrimental a loss can be when risking so much... Will continue to experiment with this, as at the current rate, you could turn out 10 times what you invest in 9 weeks. This may be worth some risk. Still early in the stages, but just one of my crazy ideas.
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  • #5,405
  • Oct 21, 2009 10:42am Oct 21, 2009 10:42am
Quoting samer960
vic
may i ask you why daily reports has stoped ?? and where are these warriors who used to deliver these reports every day ? they have given to this thread a lot and we dont see most of these guys anymore .
regards

Hey Samer!

I'm still around buddy. I am just concentrating on trading. I still read the thread and pay attention to your posts. I just have a lot going on these days.
I still am a purist with ichi and still only trust the strong signal as Vic described in the first 10 pages. The thread has evolved and it seems that many of the original followers have learned all they can from me anyway-I am learning from you guys- "avid student."

I told Vic that I didn't think I could contribute regularly and if I couldn't give 100% I thought that it would be unfair to the newer people.

I felt a lot better when Kevin came back because I felt he covers the Euro with a certain level of expertise and flair.

As far as the other warriors, I know Lionsden is around but very busy. He has his own business which takes a lot of time.

Keep up the good work!
Cheers!
  • #5,406
  • Oct 21, 2009 10:46am Oct 21, 2009 10:46am
we miss you guys . u have given a lot to this thread . and i want to thank you and other warriors for the nice work u did here .
friendly
samer
ps : if you are still in contact with these guys send them my regards 4xaddict , bull , krmo , lionsden

Quoting calderone
Hey Samer!

I'm still around buddy. I am just concentrating on trading. I still read the thread and pay attention to your posts. I just have a lot going on these days.
I still am a purist with ichi and still only trust the strong signal as Vic described in the first 10 pages. The thread has evolved and it seems that many of the original followers have learned all they can from me anyway-I am learning from you guys- "avid student."

I told Vic that I didn't think I could contribute regularly and if I couldn't give 100% I thought that it...
  • #5,407
  • Oct 21, 2009 10:59am Oct 21, 2009 10:59am
time to close this trade , + 73 pip .
  • #5,408
  • Oct 21, 2009 11:01am Oct 21, 2009 11:01am
nice trading samer, you are tearing it up, bud
  • #5,409
  • Oct 21, 2009 11:05am Oct 21, 2009 11:05am
u too mate u r doing even better . glad to have u around kevin
Quoting kharvell
nice trading samer, you are tearing it up, bud
  • #5,410
  • Oct 21, 2009 12:06pm Oct 21, 2009 12:06pm
There is something i missing ,Here daily strong signal
http://www.forexfactory.com/showthre...id#post3091664
And now chart today chart!!
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  • #5,411
  • Oct 21, 2009 12:47pm Oct 21, 2009 12:47pm
Quoting vic_elc
Guys i'll tell you the rules i use in my MM and RM they might help you a little

i never exceed 2.5% of my account in opened positions
for 3 weeks i started to divide the 2.5% into 3 positions
40% + 40% + 20% = 2.5%
i use the 20% in the positions that looks more risky or in the pairs which am not familiar with.
i use the 40s in the low risk positions and JPY cause i have be following it for a long time now

i try to take position that meets at least 1:1 risk reward ration

my situation today is as follow
20%...
Great Idea Vic

What if you have more then 3 positions a day?

Also how do you work out the percentage, is it the percentage of the bank that day or after trade or every month?

This is something I struggle with

For example I have 1000gbp equity in my live account (which I havent trades with yet) could you give me any tips I need to help work out the percentage on my trades

Thanks
  • #5,412
  • Oct 21, 2009 1:01pm Oct 21, 2009 1:01pm
Quoting kharvell
Hi vic,

I'm currently experimenting with my money management....
I have always demo traded, and I still dont fully understand about lots and margin.

I opened a demo account with 1000gbp fake money
I worked out that my average trade would have a stop of 100 pips
So I decided to use 0.3 lots on each trade, which is around 3% risk per trade.

This has all been going well and I understand it all, but I always here about closing half the trade or half the lots, I dont really understand how to do this?

Also as kevin mentioned risking 70-80% total units, confused.

If anyone can direct me to a website that clearly explains (not babypips) it would be much appreciated

Thanks guys
  • #5,413
  • Oct 21, 2009 1:22pm Oct 21, 2009 1:22pm
Quoting sinner-
E/G position for me:
Attachment

Let's see if we can make this 1:10 happen.

I am not sure what is happening here, but this is the first time in this thread I have seen people going long below the kumo etc. Certainly the first time I've seen vic do it? What happened to trend is your friend?

Hey vic, you remember what happen when we waited for beautiful perfect E/G signal to line up on H4 and below TFs, we ended up with E/G long from 0.89something all the way to 0.94.

What happened to that? Now any flat line is good to long off?...
I hear that Sinner,

I decided to give it a Demo try though to see what was up with trading a retrace below the cloud. I don't know about anyone elses but my test failed miserably.

Glad it was just a demo test. Stick to the rules people. Keep your heads out of the clouds and your trades on the right side of them.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #5,414
  • Oct 21, 2009 1:37pm Oct 21, 2009 1:37pm
Quoting vic_elc
Guys i'll tell you the rules i use in my MM and RM they might help you a little

i never exceed 2.5% of my account in opened positions
for 3 weeks i started to divide the 2.5% into 3 positions
40% + 40% + 20% = 2.5%
i use the 20% in the positions that looks more risky or in the pairs which am not familiar with.
i use the 40s in the low risk positions and JPY cause i have be following it for a long time now

i try to take position that meets at least 1:1 risk reward ration

my situation today is as follow
20%...
If we are confident in each of our positions, then shouldn't it be 2.5% risk per trade? I mean once you are at break even or in the positive from an older trade, that brings the risk down to 0% again.
  • #5,415
  • Oct 21, 2009 1:40pm Oct 21, 2009 1:40pm
Quoting ichidakiller
I have always demo traded, and I still dont fully understand about lots and margin.

I opened a demo account with 1000gbp fake money
I worked out that my average trade would have a stop of 100 pips
So I decided to use 0.3 lots on each trade, which is around 3% risk per trade.

This has all been going well and I understand it all, but I always here about closing half the trade or half the lots, I dont really understand how to do this?

Also as kevin mentioned risking 70-80% total units, confused.

If anyone can direct me to a website that clearly...
Google it but it's based on leverage as well.
Margin is determined by the pair you are trading. For example, a $1 per pip trade on GBPUSD at 1.6 requires clear margin in your account of $160.

http://forextrading.about.com/od/for...in_Trading.htm
http://www.oisv.com/press/1352
http://knol.google.com/k/webword/for...cjlhuwq5uou/2#
http://forums.babypips.com/newbie-is...draw-down.html
  • #5,416
  • Oct 21, 2009 1:55pm Oct 21, 2009 1:55pm
Brilliant thanks San Miguel
  • #5,417
  • Oct 21, 2009 2:00pm Oct 21, 2009 2:00pm
Quoting calderone
I still am a purist with ichi and still only trust the strong signal as Vic described in the first 10 pages.
Cheers!
Cheers Calderone:

Your initial encouragement kept me here learning and I feel ready to take this live before too long. You had alot to do with my sticking to something. Thank you very much. Wishing you more success!

Steve
  • #5,418
  • Oct 21, 2009 2:24pm Oct 21, 2009 2:24pm
It is good many of you guys are demo trading, I always demo trade any thing new or don't understand or to just check myself.

On live trading for newbies I recomend a mini account. (I know IBFX has them - and no I don't get any$ for that plug).

on a mini account .01 of a lot is 1 cent roughly. It's only trading pennies but if your at all like me your emotions will still come into play.

You SOB's you took my 10 cents.

You can risk very little while your confidence builds or diminishes.
And you will find out a lot about yourself in terms of how you take losses and wins, about that psychology aspect to trading you hear about.

There is a world of difference between demo and live. A Trade you will stay in in demo you might not if live.

So for very little $ ( IBFX mini, minimum to open live is 250.00 US - I believe and there may be others with a smaller buy in) you can learn a lot about yourself and real $ risked even 10 cents or a buck will help you not to fool yourself about how good or bad a trader you think you are.

Believe me, there is a world of difference between live and demo trading, even if it's pennies.

Just a thought.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #5,419
  • Edited 3:07pm Oct 21, 2009 2:48pm | Edited 3:07pm
Kevin

The EURUSD is currently retracing from the high of 1.5045 area, what would you now be looking at to re-enter and on what TF

Thanks

  • #5,420
  • Oct 21, 2009 2:54pm Oct 21, 2009 2:54pm
Having traded live several years please don't start live till you have reached a respectable goal with demo first. Double your demo account, or grow it 10% weekly for several weeks. But don't set a goal till you find what is working for you. Stay open to learning at first.

You can't play with your method on a live account. That's called blowing your account.

Its foolish to go live to experience pain. Blowing my account a few times taught me that. Take the time to learn, experiment, win, lose, decide the rules, train yourself to discipline yourself; then try it live with rules that will put you back on demo as soon as you violate them.

Forex is hard. Its the emotional side that's hard. Most folks don't believe that.

BTW free advice is worth every penny of it.

Sorry for my preaching.

Steve
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