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Ichimoku forever

  • #5,641
  • Oct 27, 2009 6:57pm Oct 27, 2009 6:57pm
long eu , maybe better to wait for a cross on lower TF. anyway im in with large stop loss
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  • #5,642
  • Oct 27, 2009 8:02pm Oct 27, 2009 8:02pm
Quoting samer960
long eu , maybe better to wait for a cross on lower TF. anyway im in with large stop loss
Hi Samer,

At lower TF, I see that EUR/USD will go down ... (H4,H1,30M ... etc) ..
What does it mean ? Will it go down ?


Vic,

What TF is better for Ichimoku ? How to make sure that EUR/USD will go up at the above example ?

Thanks.
- utpala -
  • #5,643
  • Oct 27, 2009 8:10pm Oct 27, 2009 8:10pm
Quoting samer960
long eu , maybe better to wait for a cross on lower TF. anyway im in with large stop loss
Hi Samer,

I would be cautous going long right now. I know daily candle bounces off the TK but the price is below Kumo at the 4hr and 1hr chart. On top of that, the future Kumo is bearish as well in both charts.

Good luck man with your trade. You never know it may work out for you.

Cheers.
  • #5,644
  • Edited 9:30pm Oct 27, 2009 8:31pm | Edited 9:30pm
Quoting vic_elc
Ok guys to make it easy I’ll show you what is in my mind
-How many indicators i have used through the froex journey
-How strong was this indicator looking like??!!
-It is doing great and at least 85% of the signals are correct !!!!
-I enter very good positions and make a lot of pips
-Still after all my account is in –ve!!!!!!!!!!!!

Although I have a great ichomoku system although I under stand each single line in it although I make great trades still I can’t make money!!!!!!!!

The problem is that we waste our time trying...
You're absolutely right Vic,

Giny and I have been trading off the radar with the higher Ichimoku TF strategy he developed... Giny and another friend of mine have been optimizing it as best we can, and it's looking pretty great so far, but the thing we have found the most important is the MM and RR. Here is my take:

1) Pick a % of your account that you are willing to lose when trading.

This % must be shared with however many open trades you have. So if you have 1 trade open, your maximum risk is 2%. I you have 10 trades open, each trade must risk 0.2% of your account.

I know most you guys know this, but I'll put up the example anyway: If you have a $1000 account, you're risking 2% on a single trade and your stop loss is 40 pips away, then the maximum lot value you can place is 50 cents per pip (which I think is 0.05 lots).

2) Only ever enter trades with a RRR > 1:3

This is crucial and certainly not discussed enough. Pick your take profit level, if the pips between your entry and SL (risk) exceeds the pips between your entry and TP (reward), this is a bad and stupid trade... we award you no points, and may God have mercy on your soul.

The reward must exceed your risk by at least 3 times. This means that you could have 3 negative trades in a row before a positive trade and still break even. This also means your method of trading can have only a 50/50 win-loss ratio, but if your RRR is > 1:3, you still should be making money.

Feel free to add, comment or challenge.

God bless,

Doc
  • #5,645
  • Oct 27, 2009 9:19pm Oct 27, 2009 9:19pm
hi
thank you for wishing me good luck
i am not doing something strange by entering EU long , if you look at it well u will see i am doing the same thing as taking for example daily , 4 h , 15 min . but i am using monthly , weekly , daily and everything is proportional i mean the take profit and stop loss . it can be 50 pip on lower time frame and can be 150 and above for daily And a good MM .
it might be a losing position but i took it following the rules for high time frame . if it lose this is forex .
have a nice day


Quoting ApuFx
Hi Samer,

I would be cautous going long right now. I know daily candle bounces off the TK but the price is below Kumo at the 4hr and 1hr chart. On top of that, the future Kumo is bearish as well in both charts.

Good luck man with your trade. You never know it may work out for you.

Cheers.
  • #5,646
  • Oct 27, 2009 9:36pm Oct 27, 2009 9:36pm
Quoting drwasho
You're absolutely right Vic,

Giny and I have been trading off the radar with the higher Ichimoku TF strategy he developed... Giny and another friend of mine have been optimizing it as best we can, and it's looking pretty great so far, but the thing we have found the most important is the MM and RR....

Yoo DOC

how are you mate, been so long time since last talk , how is giny i hope he is doing good , am sure that you guys doing a great work , i'd like you to share it more with us and if also can give us some examples of how you trade with ichimoku now it will be great.
regarding my new MM & RM i was only concerned about how much am gonna lose i'll leave the market to decide how much it will give me using the spanB as my stop, why am thinking like this cause the only thing i know is my SL will never know what are my targets and this is very clear cause after a long time i can assure you and everyone in here this market has no rules. i agree with you about the risk reward ratio being high but the way i am dividing my Risk now gives me a lot of chances to enter trades even with 1:1 ratio.
any way am just in a testing phase and i'd like you guys to join us back and give us your advises as we used to do in the good old days
thanks Doc
cheers mate
  • #5,647
  • Oct 27, 2009 9:38pm Oct 27, 2009 9:38pm
Quoting utpala168

What TF is better for Ichimoku ? How to make sure that EUR/USD will go up at the above example ?

Thanks.
- utpala -
any time frame can be used , and i'll know that EUR USD will go up after it will go , no one can ever tell you or grant you that the currency will go some where
have a nice week
  • #5,648
  • Oct 27, 2009 9:40pm Oct 27, 2009 9:40pm
Quoting vic_elc
Yoo DOC

how are you mate, been so long time since last talk , how is ginny i hope he is doing good , am sure that you are guys doing a great work , i'd like you to share it more with us and if also can give us some examples of how you trade with ichimoku now it will be great.
regarding my new MM & RM i was only concerned about how much am gonna lose i'll leave the market to decide how much it will give me using the spanB as my stop, why am thinking like this cause the only thing i know is my SL will never know what are my targets and this...
Hey Vic,

I'll ask Giny if he wants to give the run down, should be good! So we're still Ichimoku purists but with our trading style, we incorporate S/R lines based on monthly charts (and some weekly) as our profit targets, which allows us to factor in our RRR. By your trading method, I agree it wouldn't really work the same.

God bless,

Doc
  • #5,649
  • Oct 27, 2009 9:41pm Oct 27, 2009 9:41pm
Hey Doc am in the chat room mate , if u r able to join it will be great we can discuss more
  • #5,650
  • Oct 27, 2009 11:16pm Oct 27, 2009 11:16pm
Hi, if someone could please help me in coming up with a formula for money management? so far I understand that if as an example i have 1000 and I want to put at risk 2% i will risk $20 and i then i will divide this 20 dollars into how many pips am I going to have as a stop loss, in this case lets say 30 pips, so 20/30=0.66, would this be the amount of my mini lot?.
My dificulty is about the leverage, lets say I have a 1:200 leverage and finally does the spread of the broker come in any of this calculation?
If someone could help me in explaining me this I will greatly appreciate
thanks!
  • #5,651
  • Oct 28, 2009 12:54am Oct 28, 2009 12:54am
Hi vic,
where do you have a chatroom and how can we participate?
Sasa

Quoting vic_elc
Hey Doc am in the chat room mate , if u r able to join it will be great we can discuss more
  • #5,652
  • Oct 28, 2009 1:44am Oct 28, 2009 1:44am
Hello Guys

here is the last progress of the demo account where i am testing the new MM&RM

please feel free to ask about anything
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  • #5,653
  • Oct 28, 2009 2:16am Oct 28, 2009 2:16am
The 2nd bounce from the H4 Ks would have been a good trade short.
I missed this because (a) I was worried about a 4hr bounce as 4hr was above the kumo and (b) was watching EURCAD.
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  • #5,654
  • Oct 28, 2009 2:29am Oct 28, 2009 2:29am
Quoting vic_elc
Hello Guys

here is the last progress of the demo account where i am testing the new MM&RM

please feel free to ask about anything
Guys i have noticed a 2 important questions came into my mind

- How many trades are in Risk and how many are BE and how many booked profit ??!!!!

from the account report i can see the following

3 are in risk
1 BE
4 Booked profit

USD CAD BE
USD CHF Booked
EUR USD Booked
EUR NZD Risk
NZD USD Booked
EUR JPY Booked
AUD USD Risk
EUR AUD Risk

-Shall i get out now or shall i keep my SLs moving with SpanB ???!!!!

at the moment my floating profit is 241 $ which is approx 25% of my Balance
this is 25% profit in 7 days!!!!!!!!!!

my mind is on fire looking for an answer

Lorddd plzzzzzzzz heeeeellllllpppp meeeeeeee
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  • #5,655
  • Oct 28, 2009 2:51am Oct 28, 2009 2:51am
Hi Vic,
As these are Demo trades, which time frame did you take the trades from?
What was your plan?
Trail stop with Kumo?
Plan your trade and trade your plan....
Stick with what you started and then you won't have any question...

Just a thought...

Hope all is going well...
Attitude can reflect outcome in life and trading!
  • #5,656
  • Oct 28, 2009 3:11am Oct 28, 2009 3:11am
Quoting krmo
Hi Vic,
As these are Demo trades, which time frame did you take the trades from?
What was your plan?
Trail stop with Kumo?
Plan your trade and trade your plan....
Stick with what you started and then you won't have any question...

Just a thought...

Hope all is going well...


this is how wise men think, i can close them all but what if i am in a long term trades and they are just starting i am keeping my rules as they are and moving the SL with spanB let the market decides how much it will pay me for this job and i use my time searching for new entries (jobs)

you are a wise man Krmo i am sure you are doing good trading
  • #5,657
  • Oct 28, 2009 3:16am Oct 28, 2009 3:16am


me going bananas
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  • #5,658
  • Oct 28, 2009 3:56am Oct 28, 2009 3:56am
Hi Vic,

Is it possible applying this indicator just on a single TF? for example just 5 min chart...

thank you!
  • #5,659
  • Oct 28, 2009 4:11am Oct 28, 2009 4:11am
Quoting vic_elc


me going bananas
daaaamn 30% profit per week with 2,5% risk , daaaaaaamn

hope that u post ur trades so that we could learn to trade like that
  • #5,660
  • Oct 28, 2009 4:23am Oct 28, 2009 4:23am
[quote=vic_elc;3183990]


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