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Ichimoku forever

  • #5,541
  • Oct 25, 2009 8:22am Oct 25, 2009 8:22am
Quoting ichidakiller
Hey Vic

Thanks for the MM explanation, the only question I have is, say you have 5 positions and you work out your 2.5% and divide it up, what if you then see another position and want to enter, do you avoid it because you have are already risking your 2.5%?

Also is there an EA that can automatically work out your mm for you when you enter trades.

Also if you only have one trade a day do you risk the full 2.5% on that trade

And is the 2.5% calculated after every trade or daily from your account size.

Just realised thats more then...
Imagine you have risk slots you want to fill
2.5% = 5 slots


Your trading system ( Ichimoku ) will give you a way to move your SL with the position and once your SL is BE this position is out of your risk calculation and you can start looking for a new one ( once a slot is free u have to fill it ) .


Never trust an EA , your brain is the best thing to manage your money .


Try always to divide your 2.5% into several positions, don’t rush in and put all your eggs in one basket ( divide them on the 5 slots )


I think you can now very easy calculate your 2.5% , it doesn’t depend on a certain period of time it depends on the free slots of risk you can use ( free slot means a new risk is ready )


please feel free to ask about anything
enjoy
  • #5,542
  • Oct 25, 2009 8:26am Oct 25, 2009 8:26am
Quoting chngster
Remember, the 2.5% you risked should be the absolute limit you are psychologically prepared to lose in a day. Losinfg it must be something you've already come to terms with. It's no good setting a stop loss which chews up the 2.5% but which you were not personally ready to lose / risk, because you end up becoming bitter and more susceptible to bad trading afterwards, which is dangerous because this can snowball and infect you for weeks after.

Chngster
Hey Mate

welcome back , nice words in here , when thinking of the market i always think of what we really know !!!!!, seems very clear that we only know how much we will lose ( which is our SL ) we will never know how much we will win ( TP ), so lets work on what we know and leave what we doesn't know to the market , i am doing the same now and trying to fine tune my loses and forget what am gonna win
have a nice week mate

cheers
  • #5,543
  • Oct 25, 2009 11:07am Oct 25, 2009 11:07am
will work hard to stick to original VIC ichi rules on first 3 pages that seem to be strongest signal. After trying many variations it seems to be the most dependable signal. Requires waiting as a warrier to ambush. I'll still use other's ideas as additional confirmation but chasing the next guys trade plan is huring my results putting me right back where I've been so many times.

No offense intended to anyone posting alternative trade plans as they seem to work well for you and add to the dynamics of ichi.


Steve
  • #5,544
  • Oct 25, 2009 11:15am Oct 25, 2009 11:15am
Quoting stevewide
will work hard to stick to original VIC ichi rules on first 3 pages that seem to be strongest signal. After trying many variations it seems to be the most dependable signal. Requires waiting as a warrier to ambush. I'll still use other's ideas as additional confirmation but chasing the next guys trade plan is huring my results putting me right back where I've been so many times.

No offense intended to anyone posting alternative trade plans as they seem to work well for you and add to the dynamics of ichi.


Steve
hello Steve

how are you big bro ??
i agree with you that the full signal is the strongest , but Ichimoku offers more ways to enter and exit the trade, each way depends on our personality so whatever is working for you is the best
all the techincal systems and indicators are the same they are all equations and they give the same output , i just need the people to start thinking about RM and MM cause they are the key for success.
at the moment i see that most of us are becoming professional day after day so from this week i'll start working on the MM and RM and lets see what we can get from this crazy market
wishing you a nice week
Vic
  • #5,545
  • Oct 25, 2009 11:21am Oct 25, 2009 11:21am
Guys this something i found for free online , it might help you start thinking MM and RM , they are only 5 pages but they will open your mind and let you think again
please feel free to ask about anything

have a nice week all
Vic
Attached File(s)
File Type: pdf MM_finetuning.pdf   174 KB | 1,097 downloads
  • #5,546
  • Oct 25, 2009 11:32am Oct 25, 2009 11:32am
hi my friend
u should give us your work schedule it is not nice to trade without u .
  • #5,547
  • Oct 25, 2009 11:35am Oct 25, 2009 11:35am
Quoting samer960
hi my friend
u should give us your work schedule it is not nice to trade without u .
hello Samer

sorry bro , i have some projects running on these days and i have to follow them, i try to be in here as much as i can, this week i'll be free from Tuesday and will make sure to be around all the time,
wishing you a nice trading week
  • #5,548
  • Oct 25, 2009 2:28pm Oct 25, 2009 2:28pm
if you wonder where is my risk now u can check it

i have opened a demo account on MT4 testing the new MM and RM rules and i'll be providing the progress so we see if we can achieve some new steps with MM & RM.

wishing you all a nice week

p.s. i'll open the EUR AUD position once the market opens and i'll follow my SL with 4hrs once kumo break.
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  • #5,549
  • Oct 25, 2009 3:50pm Oct 25, 2009 3:50pm
Vic

I think you could get away with placing your stops behind the KS and Ts rather then the whole Kumo cloud

What do you think?
  • #5,550
  • Oct 25, 2009 3:59pm Oct 25, 2009 3:59pm
For all the traders following ichi:

I am working on my trade management per Vic's plan. I like the fact that I won't have all my eggs in one basket and you can see by Vic's example that we are more able to avoid a shipwreck that way! lol

My only goal is to get my trade to break even and move on. I will take what the market gives me and move my stop along as needed.

I must keep my eye on future trades once my risk is free'd up.

Cheers!
  • #5,551
  • Oct 25, 2009 4:06pm Oct 25, 2009 4:06pm
Quoting ichidakiller
Vic

I think you could get away with placing your stops behind the KS and Ts rather then the whole Kumo cloud

What do you think?
i am using this as a whole system testing the new MM and RM so i'll be risking small % in each trade , i was looking for the best thing to ensure the position will be opened as long as the trend is strong and the Kumo is the best thing to do (spanB).
Ks can be broken twice or more before the trend starts to reverse
what do you think??
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  • #5,552
  • Edited 4:26pm Oct 25, 2009 4:24pm | Edited 4:26pm
I have opened a demo account with 1000 $ with 1:100 leverage , i'll be using 0.03 on each trade .
i'll be providing the results weekly

Have a nice trading week

P.S. count only the 2 opened trades, last week trades were nothing more than some tests
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  • #5,553
  • Oct 25, 2009 4:33pm Oct 25, 2009 4:33pm
I have a nasty spread on AudNZD thru my broker- 14 pips yuck! That makes the Dragon look good!
  • #5,554
  • Oct 25, 2009 4:40pm Oct 25, 2009 4:40pm
Quoting calderone
I have a nasty spread on AudNZD thru my broker- 14 pips yuck! That makes the Dragon look good!
yeah i agree with you , thinking money leads me to buy cheap stuff , thinking risk also leads to the same !!!!!! every thing must be calculated
have a nice week
  • #5,555
  • Oct 25, 2009 4:58pm Oct 25, 2009 4:58pm
Quoting vic_elc
i am using this as a whole system testing the new MM and RM so i'll be risking small % in each trade , i was looking for the best thing to ensure the position will be opened as long as the trend is strong and the Kumo is the best thing to do (spanB).
Ks can be broken twice or more before the trend starts to reverse
what do you think??
Ok thanks Vic, Ill keep an eye on this

Any chance of giving an update on the twitter signals

Maybe you could Twitter the trades for this test?

Keep it up my friend
  • #5,556
  • Oct 25, 2009 5:03pm Oct 25, 2009 5:03pm
Quoting ichidakiller
Ok thanks Vic, Ill keep an eye on this

Any chance of giving an update on the twitter signals

Maybe you could Twitter the trades for this test?

Keep it up my friend
No this is not trades i need you guys to follow, am just testing a new concept so lets see the results first and then we can decide if we can go with it or not,
we can discuss trades as usual in the thread
  • #5,557
  • Oct 25, 2009 5:04pm Oct 25, 2009 5:04pm
I hope this helps a few of you out there.!!!
This is just my take on the Risk Exposure and Trade management.

KRMO Risk Management and Trade Management

Risk Management

I figure my risk from a per trade view point.
That risk is 1.5% per trade.
But the caveat is that the 1.5% is from the balance (free margin)

So if I start with a $1,000 balance with a mini account then:

_my first trade risk = 1.5% of $1,000 = $15

_second trade risk = 1.5% of $985 (1,000 – 15 (1st trade risk) = $14.78

_third trade risk = 1.5% of $970.22 (985 – 14.78) = $14.55

and so on...

This takes in to account that you may lose on your earlier trades....
If you win then obviously your 1.5% will grow.

So how many lots can you trade?

Take your allowable risk and divide it by the stop.
(I let the chart tell me where to place a stop)

So in example one the first trade risk was $15.
Say your stop is 25 pips.

Then $15 / 25 pip = .6 lots (mini lots)


Trade Management

My philosophy is to reduce risk exposure as quickly as possible.
This means getting into a Free Trade position.

I do this by working my trades in 1/3rd or 1/4th units.
Take your allowable risk and divide it into units.

From the example above say we can risk .6 mini lots.
Then with the 1/3rd method your units would be .2 mini lots.
With the 1/4th method your units would be .15 mini lots


Option 1 – 1/3rd Method

On a trade that I deem riskier I use this method

Example:
Say I have a stop of 30 pips and I enter with 3 units.
My risk is 30x3 = 90.
At +30 pips I take 2 units off the table.
This means I banked 60 (2x30) and reduced my risk to 30 on the last unit.

But I am now in the best position which is a Free Trade with profit!!!!!
If I get stopped on the last lot for -30pip I still bank 30pip.
(60pip in bank – 30pip stopped on last lot = +30pip)

Optional – If I think the trade is dying at this point I could move stop to entry price and lock in 60 pip.


Option 2 – 1/4th Method

On a trade of average risk I use this method

Example:
I have a stop of 30 pips and I enter with 4 units.
My risk is 30 x 4 = 120 pip.
At +30 pips I take 2 units off the table.
30x2 = 60
My risk is now 0. a Free Trade!!!
(120-60 = 60)
I banked 60, so if I get stopped for -30pips on the last 2 units I break even.
60-60=0

Let us say we reach +55 pips and we take 1 more unit off and move our stop to break even.
We then have 60+55 = 115 pips in the bank with 1 last unit still running....
A Free Trade with profit!!!!!

Where you take profits is up to you.
But have profit targets decided before you enter the trade.

Basic trading rule:
Plan your trade and trade your plan...................
Attitude can reflect outcome in life and trading!
  • #5,558
  • Oct 25, 2009 5:34pm Oct 25, 2009 5:34pm
Quoting vic_elc
No this is not trades i need you guys to follow, am just testing a new concept so lets see the results first and then we can decide if we can go with it or not,
we can discuss trades as usual in the thread
Ok cool thanks again Vic
  • #5,559
  • Oct 25, 2009 5:40pm Oct 25, 2009 5:40pm
Quoting krmo
I hope this helps a few of you out there.!!!
This is just my take on the Risk Exposure and Trade management.

KRMO Risk Management and Trade Management

Risk Management

I figure my risk from a per trade view point.
That risk is 1.5% per trade.
But the caveat is that the 1.5% is from the balance (free margin)

So if I start with a $1,000 balance with a mini account then:

_my first trade risk = 1.5% of $1,000 = $15

_second trade risk = 1.5% of $985 (1,000 –...
One of the best explanations I have heard thanks helps a lot



Ok market opening soon, any possible trade setups to get stuck into?
  • #5,560
  • Oct 25, 2009 9:20pm Oct 25, 2009 9:20pm
hi mate
this EU do not want to stop at our station . so i moved up and i ride it higher , are u in ?
regards
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