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Ichimoku forever

  • #6,141
  • Nov 16, 2009 12:35pm Nov 16, 2009 12:35pm
Quoting SanMiguel
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...
Thanks San, I think I am going to look for a re-entry on the 15m for UJ and AU.

I normally Look for signals on the 4h, then look for entries on the 1h, although I seem to be hitting some great trades but then Ill follow the same rules and have a run of losers, Hopefully I will get there soon.

Thanks again San
  • #6,142
  • Nov 16, 2009 12:50pm Nov 16, 2009 12:50pm
Quoting ichidakiller
Thanks San, I think I am going to look for a re-entry on the 15m for UJ and AU.

I normally Look for signals on the 4h, then look for entries on the 1h, although I seem to be hitting some great trades but then Ill follow the same rules and have a run of losers, Hopefully I will get there soon.

Thanks again San
Post up some of your losers, I intend to do that.
The most difficult thing with trading the 1hr and 4hr is that you are probably going for longer term trades? The stop needs to be wide enough to contain the news events...or rather once your trade is in profit, it needs to be in profit enough to contain them. I can't tell you how many times I have been stopped out at break even recently but I prefer that to taking a loss as it lets me re-evaluate and sometimes get in cheaper.
If you're trading shorter timeframes then fine...go for smaller targets in the 50pip region.
  • #6,143
  • Nov 16, 2009 1:19pm Nov 16, 2009 1:19pm
Quoting SanMiguel
Post up some of your losers, I intend to do that.
The most difficult thing with trading the 1hr and 4hr is that you are probably going for longer term trades? The stop needs to be wide enough to contain the news events...or rather once your trade is in profit, it needs to be in profit enough to contain them. I can't tell you how many times I have been stopped out at break even recently but I prefer that to taking a loss as it lets me re-evaluate and sometimes get in cheaper.
If you're trading shorter timeframes then fine...go for smaller targets...
Yes I agree with the stops, I was trying to have a SL of 80 and TP of 100 on 1h trades but still seem to get stopped out on a lot of trades, I guess its just finding the right balance.

I will start posting my trades on here, I think it will help me a lot, I would also like to see your losing trades too, that would help a lot too.

Thanks again San
  • #6,144
  • Nov 16, 2009 4:38pm Nov 16, 2009 4:38pm
A ts/ks cross have just take place. Though I have already gotten in after a break of 81.45 with 200 pips already. What do you think guys? Wkly is bullish
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  • #6,145
  • Nov 16, 2009 8:38pm Nov 16, 2009 8:38pm
Hi Guys,

I am new here and i am from down under.
Just started trading live for 2 months.
A question that if someone could share with me.

If i am going for long (major trend is UP) and trying to enter at 5 min TF. Should i wait until the TKS/KS cross above the Kumo cloud.
I notice most of the time, the TKS/KS crosses right beneath the kumo cloud.

Do you guys enter when TKS/KS crossed below the cloud?

Thanks in advance.
  • #6,146
  • Nov 17, 2009 1:54am Nov 17, 2009 1:54am
Quoting SanMiguel
You could also wait for a small retrace on the 1hr and get in there with a smaller stop loss.
At the risk of asking something that has already been covered extensively: Is there a guideline for how far the retrace may go on 1hr (like to tenkan sen on 4hr)? I often see a retrace right to middle of t/k on 1hr. Is this a good measure?

Thanks for your help. I wish you a nice day and lots of, lots of pips!
puduman
  • #6,147
  • Nov 17, 2009 4:00am Nov 17, 2009 4:00am
Quoting philipo
A ts/ks cross have just take place. Though I have already gotten in after a break of 81.45 with 200 pips already. What do you think guys? Wkly is bullish
Looks like you have your retrace to the Daily KS.
I would wait for a 4hr candle pattern signal and then see if it closes above the Ks.
  • #6,148
  • Nov 17, 2009 4:11am Nov 17, 2009 4:11am
Couple of trades stopped for be or a profit lastnight: NU and AU.
AU most likely because of the news report at 0030 GMT.

Today, looking at EJ, UJ, and GChf.
UJ currently +50pips and holding trailing the 1hr Ks (guaranteed +20), looking to add on.
Looking at GU but only trading if it breaks the last high.
  • #6,149
  • Nov 17, 2009 7:02am Nov 17, 2009 7:02am
vic hello my friend, it's been a while since I have posted here, been catching up.
  • #6,150
  • Nov 17, 2009 7:10am Nov 17, 2009 7:10am
hello lb trader

welcome back

please one question for you i ve in the past post u know a lot about it


*********

please can you explain again what is best sequence of ichimoku alerts for trading

at the start of trend and at reversal as well

please specify if its on one time frame and color of other time frame at that moment

********
seems on multi tme frame

kumo twist even a neutral one in one period + any another strong ichi signal on the superior time frame is a good way to start to get in ???

tks for your help

recidiviste
BROKENGLISH
  • #6,151
  • Edited 8:16am Nov 17, 2009 7:38am | Edited 8:16am
Quoting recidiviste
hello lb trader

welcome back

please one question for you i ve in the past post u know a lot about it


*********

please can you explain again what is best sequence of ichimoku alerts for trading

at the start of trend and at reversal as well

please specify if its on one time frame and color of other time frame at that moment

********
seems on multi tme frame

kumo twist even a neutral one in one period + any another strong ichi signal on the superior time frame is a good way to start to get in ???

tks for your help

recidiviste...
Monsieur le recidiviste,

I saw your question a while back which I believe was answered by 4xaddict, but I'll try to clarify it a bit more.
there are five official strategies in ichimoku for entry and you can see them in the ichimokuwiki.pdf file. the TS/KS cross , the Kijun sen cross, the kumo breakout, the kumo twist and the chikou span cross. I will not explain each in detail because they are well described with examples in the document. but for entry, I will start by watching for vic's strong entry signal described on page one of this thread (the TF is important only from your availability to monitor the trade, lower TF if you can watch continuously, higher TF if unable). this is the strongest and most reliable signal, if it is weak (i.e below the cloud for long and above the cloud for short), then I will be looking for some other confirmation to make sure it is not a fake, e.g. I will wait for a kumo break and if it is flat I wait for a retest and bounce off the kumo. other signal could be the kijun sen cross where the candles will cross the kijun sen upwards or downwards. these signals are not taken alone, there must be a corroboration with chikou span and kumo sentiment in the same direction and if the signal is taken on say 4H TF then the higher TF need to be in agreement.
the kumo twist is a good signal for entry probably on higher TF, I have not taken it by itself although it is described in the document, most of the time you will find other signals will coincide with it. the most important thing you should remember before opening a position is to look for any key resistance or support in your way that might abort your breakout.
for the exits, I think here this is quite difficult to answer where to exit, whatever signal you take use the reverse signal for exit. sometimes this will cost you some pips, but it is reliably safe. I have been using a method called the chikou span trend line break CSTLB described in a document by the same name, this will save you those pips . it is important to note that you will be able to detect patterns where you should exit if you watch your pair long enough and become familiar with it.
I hope this answers your questions and good luck.
  • #6,152
  • Nov 17, 2009 8:29am Nov 17, 2009 8:29am
Ok I've read page 1 - 84 these last 2 days and boy am I overwhelmed lol. THere is soooo incredibly much! Wow! I will read all the pages and stuff. But I don't know if I still got it all in one row ya know what i mean! So, Am I doing it right?

It works on all charts, pares and everything else.

-I check the minute 5 chart and wait for
Crossover Tenkan, Kijun
See if Price is above cloud for long and under for short
Check if Chinkou is above price for long, under for short.

Then I check higher TF's (Dunno how many) And see if the Crossover Tenkan Kijun is short or long. If M5 is short the crossover on the higher TF's must also be short. And other way around for long.

When I enter, I put the S/L just a lill bit over or under the cloud (depending on short or long)....

I haven't figured out when to Take Profit tho. Anyone can assist me on that??

So what am I doing right or wrong? Thanks! And once I get it all and read all the pages I'd only be happy to join the army (if its still alive) and help out Ichimoku newbies like Moi.

Thanks!
  • #6,153
  • Nov 17, 2009 8:45am Nov 17, 2009 8:45am
working on perfect ICHi custom indicator and when more ready will post

tks

recidiviste
BROKENGLISH
  • #6,154
  • Nov 17, 2009 8:50am Nov 17, 2009 8:50am
Quoting recidiviste
working on perfect ICHi custom indicator and when more ready will post

tks

recidiviste
excellent, and good luck.
  • #6,155
  • Nov 17, 2009 11:35am Nov 17, 2009 11:35am
EU, NU, AU all look to be forming nice 4hr candles.
Any thoughts on these trades?
EU: bounce off D1 Ks
AU: bounce off kumo and low from about 12 candles ago
NU: bounce off 4hr Ks.
  • #6,156
  • Nov 17, 2009 11:52am Nov 17, 2009 11:52am
Quoting DubbelD'z
Ok I've read page 1 - 84 these last 2 days and boy am I overwhelmed lol. THere is soooo incredibly much! Wow! I will read all the pages and stuff. But I don't know if I still got it all in one row ya know what i mean! So, Am I doing it right?

It works on all charts, pares and everything else.

-I check the minute 5 chart and wait for
Crossover Tenkan, Kijun
See if Price is above cloud for long and under for short
Check if Chinkou is above price for long, under for short.

Then I check higher TF's (Dunno how many) And see if the Crossover Tenkan...
don't know what is written in P. 1-84, BUT:

1. Cheking higher TF for signal

2. Then go to lower TF and waiting for signal.

3. Stoploss acc. Kumo or Kijun Sen on the lower TF.

4. TP - trailing stop, or .... other idea.
  • #6,157
  • Nov 17, 2009 12:01pm Nov 17, 2009 12:01pm
Thanks alot for the reply! Appreciate it.

So what your saying is that instead of looking at the M5 chart first, I should look at higher TF's first? Any particular preference which TF? And should ALL higher TF's have the same signal?

I honestly do not care about Take Profit atm, I first want to know WHEN to trade hahaha! (I don't mind taking profit tho =])

I feel like such a retard lol. I read page 1-95 now but there is just so much. It's simple, but so much it just has to be straightend up for me now!

If you just could answer the questions I just asked I would be very happy =D. And tomorrow I'll post the Trade Sequence I do with pictures etc. to see if anyone is willing to give me some feedback and see if I do understand it.
  • #6,158
  • Nov 17, 2009 12:09pm Nov 17, 2009 12:09pm
Quoting SanMiguel
EU, NU, AU all look to be forming nice 4hr candles.
Any thoughts on these trades?
EU: bounce off D1 Ks
AU: bounce off kumo and low from about 12 candles ago
NU: bounce off 4hr Ks.
EU - look 4h chart - not for buy yet
  • #6,159
  • Nov 17, 2009 1:56pm Nov 17, 2009 1:56pm
Quoting Happy68
EU - look 4h chart - not for buy yet
Based on price being inside the kumo?
Possibly, but if the trend is strong as on the daily chart, the Ks has been a strong supporter.
I'll wait longer anyway as it has struggled at the 1.5 region.
  • #6,160
  • Nov 17, 2009 8:37pm Nov 17, 2009 8:37pm
Hey guys,

I've uploaded here an updated version of the indicator I posted a few days back. It shows the TS and KS lines for the daily, weekly and monthly charts. The updated version now repaints the lines and text ever tick, so you don't have to refresh it manually.

I'm working on having the text display the actual price values of those lines along with 'Daily/Weekly/Monthly KS/TS'.

So this indicator is really useful for people trading the higher TFs like Giny and I. Hope you enjoy.

God bless,

Doc
Attached File(s)
File Type: mq4 Higher TF TS and KS lines.mq4   6 KB | 464 downloads
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