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Ichimoku forever

  • #6,121
  • Nov 13, 2009 11:12am Nov 13, 2009 11:12am
As an additional aside - I haven't been studying FX long enough to know - Is this risk appetite/risk aversion thing always been around in FX or is it a phenomenon created since the global econ meltdown? or maybe now just more volatile and more pronounced.
  • #6,122
  • Nov 13, 2009 11:25am Nov 13, 2009 11:25am
Quoting puduman
Thanks for that. I see them everywhere as I suspected.

You're all very active for a friday. At least compared to other threads I've read so far. What is your experience, does ichimoku work on fridays as well as it does on other days (besides the lower volume) or are you just willing to take risks?
To me Friday is like every other day. May be because I trade higher time frame.
And so far so good with ichimoku.
  • #6,123
  • Nov 13, 2009 11:35am Nov 13, 2009 11:35am
Quoting SanMiguel
Do you guys generally hold onto trades over the weekend?
I usually close on Friday and then re-open on Sunday if all looks well to avoid a random market crash over the weekend and the Sunday gap issue.
I'm wondering if it's really worth the trouble though...

NU +80 (about to close 50%)
UCAD +30
SanMiguel-

I for one do not hold onto trades over the weekend. There could be a probability of getting stopped out from a gap. I am only looking to get anywhere from 10-50 pips per day. Take my earnings and get out!

I guess it all depends what type of trader the person is:Scalper, Day trader, Swing Trader, or Position trader.

Walt
  • #6,124
  • Nov 13, 2009 4:10pm Nov 13, 2009 4:10pm
Quoting PipDreamz
As an additional aside - I haven't been studying FX long enough to know - Is this risk appetite/risk aversion thing always been around in FX or is it a phenomenon created since the global econ meltdown? or maybe now just more volatile and more pronounced.
I am not sure that it is a recent phenomenon but rather something that has become part of the average persons vernacular since the financial crisisade headlines. As long as the carry trade has been in play (circa Asian currency crisis) there has been a risk trade present ad the average investor borrowing low yield curencies to buy higher yield ones have been in the Market. Just not front page news.

Enjoy your weekend. Glad this week is over given the lack if liquidity and news.

Cheers,
4x.
  • #6,125
  • Nov 13, 2009 7:03pm Nov 13, 2009 7:03pm
Quoting PipDreamz
Doc,
Glad you find them helpful. I was thinking about that. It's kind of a balance between usefulness and clutter. I was thinking of maybe adding 2 of the "important" ones like D1 & H1 further to the right that always remain the same, and then a TF+1 that changes with TF.
I like the way that you can see momentum by how offset the TS KS is from the other TF and that you can see in an instant which TF has the "flip".
I haven't decided if the TK2PA indi is useful enough to justify the screen space yet. I'm looking for patterns on it that would...
Hey mate,

I just figured out how to code it thanks to SanMiguel's code (from his earlier indicator). I've attached it here, it displays the daily, weekly and monthly TS and KS (TS is dotted line, KS is solid line). At the moment you have to refresh the TFs to up date it (it won't automatically adjust live, SanMiguel any coding suggestions would be good).

Enjoy.

God bless,

Doc
Attached File(s)
File Type: mq4 Higher TF TS and KS.mq4   5 KB | 364 downloads
  • #6,126
  • Nov 14, 2009 6:02am Nov 14, 2009 6:02am
Quoting 4xAddict
I am not sure that it is a recent phenomenon but rather something that has become part of the average persons vernacular since the financial crisisade headlines. As long as the carry trade has been in play (circa Asian currency crisis) there has been a risk trade present ad the average investor borrowing low yield curencies to buy higher yield ones have been in the Market. Just not front page news.

Enjoy your weekend. Glad this week is over given the lack if liquidity and news.

Cheers,
4x.
How does the carry trade work?
Is it only on buy trades where the buy currency has a national interest rate higher than the 2nd in the pair?
  • #6,127
  • Nov 14, 2009 6:09am Nov 14, 2009 6:09am
Quoting drwasho
Hey mate,

I just figured out how to code it thanks to SanMiguel's code (from his earlier indicator). I've attached it here, it displays the daily, weekly and monthly TS and KS (TS is dotted line, KS is solid line). At the moment you have to refresh the TFs to up date it (it won't automatically adjust live, SanMiguel any coding suggestions would be good).

Enjoy.

God bless,

Doc
I haven't looked at this yet but you'll need to do something like repaint the lines or delete them and put them back in every tick and it will be live information.
...or put the ObjectSet into the start() function.
  • #6,128
  • Nov 14, 2009 11:14am Nov 14, 2009 11:14am
Quoting SanMiguel
How does the carry trade work?
Is it only on buy trades where the buy currency has a national interest rate higher than the 2nd in the pair?
What Does Currency Carry Trade Mean?
A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used.

Investopedia explains Currency Carry Trade
Here's an example of a "yen carry trade": a trader borrows 1,000 Japanese yen from a Japanese bank, converts the funds into U.S. dollars and buys a bond for the equivalent amount. Let's assume that the bond pays 4.5% and the Japanese interest rate is set at 0%. The trader stands to make a profit of 4.5% as long as the exchange rate between the countries does not change. Many professional traders use this trade because the gains can become very large when leverage is taken into consideration. If the trader in our example uses a common leverage factor of 10:1, then she can stand to make a profit of 45%.

The big risk in a carry trade is the uncertainty of exchange rates. Using the example above, if the U.S. dollar were to fall in value relative to the Japanese yen, then the trader would run the risk of losing money. Also, these transactions are generally done with a lot of leverage, so a small movement in exchange rates can result in huge losses unless the position is hedged appropriately.

see it e.g. under: http://www.investopedia.com/terms/c/...carrytrade.asp

Regrads
  • #6,129
  • Nov 15, 2009 12:41pm Nov 15, 2009 12:41pm
Quoting SanMiguel
How does the carry trade work?
Is it only on buy trades where the buy currency has a national interest rate higher than the 2nd in the pair?
SanMiguel-

Check out
babypips.com
it's free. Once on the site click on the top right corner "Follw me to pre-school start-classes" Once you're in the classes click on College: Carry Trades.

Hope this helps.

Walt
  • #6,130
  • Nov 15, 2009 6:05pm Nov 15, 2009 6:05pm
Quoting drwasho
Hey mate,

I just figured out how to code it thanks to SanMiguel's code (from his earlier indicator). I've attached it here, it displays the daily, weekly and monthly TS and KS (TS is dotted line, KS is solid line). At the moment you have to refresh the TFs to up date it (it won't automatically adjust live, SanMiguel any coding suggestions would be good).

Enjoy.

God bless,

Doc
Doc-

What platform are your indicators for? Would they work w/the Metaquotes software?

Thanks.
Walt
  • #6,131
  • Nov 15, 2009 6:59pm Nov 15, 2009 6:59pm
Hey mate,

The indicator is designed for Metatrader 4, so it should work. A friend of mine tried using it but said it didn't work, it may be because you need to first go the the 4 Hour chart before going to the other TFs.

If someone can test and confirm that for me, would appreciate it.

BTW, I've attached the latest version of the indicator for better color coordination for people who have black backgrounds (also fixed up some spelling).

God bless,

Doc

@SanMiguel:

Still not sure how or where to add in code to have live repainting. If you're feeling particularly generous, you could add it into the .mq4 file and repost?
Attached File(s)
File Type: mq4 Higher TF TS and KS.mq4   5 KB | 398 downloads
  • #6,132
  • Nov 15, 2009 7:01pm Nov 15, 2009 7:01pm
Anybody here on Meetpips?
  • #6,133
  • Nov 15, 2009 7:15pm Nov 15, 2009 7:15pm
Quoting drwasho
Hey mate,

The indicator is designed for Metatrader 4, so it should work. A friend of mine tried using it but said it didn't work, it may be because you need to first go the the 4 Hour chart before going to the other TFs.

If someone can test and confirm that for me, would appreciate it.

BTW, I've attached the latest version of the indicator for better color coordination for people who have black backgrounds (also fixed up some spelling).

God bless,

Doc

@SanMiguel:

Still not sure how or where to add in code to have live repainting. If...
Doc-

Do you copy these files to the indicator folder?

Thanks mate!
  • #6,134
  • Nov 15, 2009 11:15pm Nov 15, 2009 11:15pm
Quoting wat
Doc-

Do you copy these files to the indicator folder?

Thanks mate!
Experts>Indicators
  • #6,135
  • Nov 16, 2009 1:24am Nov 16, 2009 1:24am
Quoting drwasho
@SanMiguel:

Still not sure how or where to add in code to have live repainting. If you're feeling particularly generous, you could add it into the .mq4 file and repost?
At the moment, all the code is in the int init() function, which starts once when you load the indicator.
You need to create an ObjectSet line that changes the value:
ObjectSet("D1KsValue", OBJ_HLINE, 0, Time[0], iIchimoku(Symbol(), PERIOD_D1, 9, 26, 52, MODE_KIJUNSEN, 0), 0, 0);
Then move all the ObjectSet lines into the int start() function, which will make them change every tick.

PM me if that doesn't work and I'll have a look...
  • #6,136
  • Nov 16, 2009 2:42am Nov 16, 2009 2:42am
Quoting kharvell
Hey guys,
Pretty sure I have swine flu, so I shall not be posting for a little while til I feel better..
hey Kevin, how's everything?
dont worry, that's just a hyped-up flu, nothing very serious.
just have to keep your body strong, immune system-wise.



Quoting golferfx
Morning guys/gals,
I see alot of traders struggle with the "I should get some of that" trading. There should be an important question to ask yourself...what type of personality do I have. Do I enjoy risk and need action or do I prefer to set and forget my trades with the overall big trend.
Trading countertrend involves experience, chart time and a aggressive trading style....
If you enjoy life and only want to stare at charts for a few hours a day then the daily chart is more than sufficient... but you must have a trading plan. I quoted...

all im sure of is golferfx likes to enjoy life while trading on the side...
  • #6,137
  • Nov 16, 2009 6:29am Nov 16, 2009 6:29am
thank you very much
which pairs and time frames fit to this indicator
  • #6,138
  • Edited 11:23am Nov 16, 2009 10:28am | Edited 11:23am
Just an update, I am holding off on EU and GU trades at the moment.
GU because I cannot figure what it is doing and it is stuck in a range.
EU because it cannot break 1.5

I am in on the following with strong trends on Daily, H4, and H1 - maybe you can find some M5, M15, or M30 entries at some point...
NZ buy: from last week plus a new trade this week.
UCAD sell
AU buy
UJ sell

Edit: UCAD and UJ taken out at breakeven by Bernanke opening his mouth again
  • #6,139
  • Nov 16, 2009 12:10pm Nov 16, 2009 12:10pm
Quoting SanMiguel
Just an update, I am holding off on EU and GU trades at the moment.
GU because I cannot figure what it is doing and it is stuck in a range.
EU because it cannot break 1.5

I am in on the following with strong trends on Daily, H4, and H1 - maybe you can find some M5, M15, or M30 entries at some point...
NZ buy: from last week plus a new trade this week.
UCAD sell
AU buy
UJ sell

Edit: UCAD and UJ taken out at breakeven by Bernanke opening his mouth again
Hey San, would you consider re-entering ucad and uj, once they settle from the news?

Also I noticed AudUsd and NzdUsd has a cross on the 4h, would it be a good idea to place a pending order near the Ts incase it retraces a little?

Thanks man and I hope your well
  • #6,140
  • Nov 16, 2009 12:13pm Nov 16, 2009 12:13pm
Quoting ichidakiller
Hey San, would you consider re-entering ucad and uj, once they settle from the news?

Also I noticed AudUsd and NzdUsd has a cross on the 4h, would it be a good idea to place a pending order near the Ts incase it retraces a little?

Thanks man and I hope your well
I already did but based on a 5min neutral cross (UJ and AU, UCAD I haven't re-entered yet). I wouldn't normally take these but given that the move was after news, I felt I was getting a good price this time - better price than my 1st entry under a strong cross.

AU and NU, you could do that...are you trading the 4hr chart by itself?
You could also wait for a small retrace on the 1hr and get in there with a smaller stop loss. I never really trade the 4hr by itself, I would definitely enter on the 1hr as a minimum...
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