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Ichimoku forever

  • #6,261
  • Edited 8:29am Nov 19, 2009 7:57am | Edited 8:29am
Quoting lbtrader
Hi Chngster, well, no argument about your gain, but I think you were lucky. what was the basis of your trade, the TP and SL? I think this was on 5M TF if I am correct, and looks like it was a bounce off the kumo, but what about the higher TF? was there any bullishness higher up?
the down move so far has made over 100 pips from the top.
Hi, back from dinner. Yes mate history has shown today I was lucky because anything can happen in forex. It was a fortuitous move to move SL to BE because I was stopped out for about +4.

You are correct, it was the 5M TF. There was a volumn spike at 8.10, and again at 9.10 indicating intense buying effort. Turned out to be a bull trap.

You've already picked up on the fact I am using a new hybrid system when u asked about entry, TP and SL. You will notice there is no tenkan or kijun line on my chart, only the kumo. My signal for entry was the gann activator , a custom indicator you can find on Google. I have been experimenting with an aggressive tenkan (3) v tenkan (9) crossover signal to get an earlier entry for the last number of months, but I find the gann to suit my style better.

I dont like to trade against the kumo, hence I went long at that stage. Also, my long period gann (black) supported bullish, and my short period gann (red) said to go in. So 3 things that said to go long. As it turned out, I was immediately right by +22, but given the pick up in London volume at that stage, anything could have happened and we saw the formation of the London trend snap in the opposite direction. Had I been at my trading desk I would have undoubtedly went short at the opening of the first candle which crossed the black gann line at 9.50.

All of this is highly experimental, and very different from Vic's original rules, but I am testing it out live on my little poor man's account. 3.4% ROI on Monday, 7.6% on Tues, -9.7% due to whippy action and reckless behaviour on Wednesday, no trading today apart from that gold trade.

I will continue to test live and where possible I will post my live trades.

Let's keep up the good work, and pretty soon we'll be on Samer's private island.

Chngster
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Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #6,262
  • Edited 9:33am Nov 19, 2009 9:01am | Edited 9:33am
Quoting chngster
Hi, back from dinner.
Chngster
hope you had a nice one. yeah I thought I recognized the Gann hilo indicator. I have toyed with it for a while back, as it was presented my Masm FX using also the QQE and DMI indicators. he eventually gave up the system as it missed many moves, but on 5M that could be profitable, I don't know, so by all means do share, it would be interesting to see how accurate or sensitive it is.
btw, is that the HA SW alerts indicator with the green and red bars?

GL.
  • #6,263
  • Nov 19, 2009 9:04am Nov 19, 2009 9:04am
seems most of wanna be trader are in fact gamblers ...

all dream to make it BIG in the market .. thats Gambling

best maybe is to try poker online ..........

TRADING = stric money management ...

if apply the 2 pct rule max s/l with depo of USd 10.000 ( already a lot )

max loss at usd 200 = open position of 20 000 usd with 1 pct loss if my caculation are correct....

pls can you help with a recap of all the money management rules...

think first step is to fix this choice :

am i a gambler = dreaming make it big = account bust fast

am i a trader = ready to sweat n die for 200 usd (only) and ready to lose usd 10.000 at worst .... ?

............... beetwenn gambler and the trader inside ... me

tks

recidiviste
BROKENGLISH
  • #6,264
  • Nov 19, 2009 9:33am Nov 19, 2009 9:33am
Quoting samer960
hi
i think u are saying u took a long and your trade failed right ? is this what u are asking why the long failed ? if this is your question this is my answer .
i will tell u how the best set up for breakout should look like and u will know what u did wrong.

take a look at your 4 h chart , u see the last cross below the cloud and the price has cleared chinkou span and price break the cloud ,this is the safest breakout . keep this 4 h breakout in your head and if u want to trade the breakout do it the same way .
all the signal generated by ichi...
Thanks for your help. Your words shed light on my trade. After entering this one I hoped for a bounce off 4hr kijun sen like you mentioned under 3 but was disappointed.

Thanks to you guys I had my first trade I was perfectly satisfied with today (though I was stopped out at BE). I will post some charts in a few minutes.
  • #6,265
  • Nov 19, 2009 9:41am Nov 19, 2009 9:41am
Is anyone seeing what's about take place on USD/CAD 4hrs and daily TF? Comment please
  • #6,266
  • Nov 19, 2009 9:45am Nov 19, 2009 9:45am
anybody caught the first one?
AU kumo bearish breakout
GC (countertrend) bounce off KS.
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  • #6,267
  • Nov 19, 2009 9:47am Nov 19, 2009 9:47am
Quoting philipo
Is anyone seeing what's about take place on USD/CAD 4hrs and daily TF? Comment please
kumo bullish breakout thru flat kumo, probable retrace on 4H to 1.063 (4H kumo) 1.0624(1H TS).
  • #6,268
  • Nov 19, 2009 10:11am Nov 19, 2009 10:11am
Quoting lbtrader
kumo bullish breakout thru flat kumo, probable retrace on 4H to 1.063 (4H kumo) 1.0624(1H TS).
Agree 4-hr resistance levels 1.0699,1.0721 retrace back to 1.0633
  • #6,269
  • Nov 19, 2009 10:29am Nov 19, 2009 10:29am
Quoting wat
Agree 4-hr resistance levels 1.0699,1.0721 retrace back to 1.0633
.

Thanks Wat & Ibtrader for your input. Am in the office. Hope when I get home in an hrs time, the trade setup will not elude me if it gels. Thanks again.
  • #6,270
  • Nov 19, 2009 10:34am Nov 19, 2009 10:34am
Quoting philipo
.

Thanks Wat & Ibtrader for your input. Am in the office. Hope when I get home in an hrs time, the trade setup will not elude me if it gels. Thanks again.
hopefully can make a few pips on the down move
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  • #6,271
  • Nov 19, 2009 10:47am Nov 19, 2009 10:47am
Here's my trade:

EURJPY
Entry: 9:00am (GMT) @ 132.50
Stop: 9:32am (GMT) @ 132.46

What was good?
Everything was in line:

 

  1. 4hr and 1hr: showed clear strong signals (as far as I can say).
  2. 15min: price bounced off kijun sen. Good point for entry.

What have I done wrong?

 

  1. After the trade was 25 pips in profit I set my SL to BE +4 pips. One bar later price came up to exactly where my SL was, stopped me out and continued his way down again. If I had put my SL exactly where my entry was, I would have made at least +50 now.

What do you think? Any other mistakes I've made? Anything I've missed?

Altogether this is the first trade I am really satisfied with, even though I was stopped out unnecessarily. Don't care, feel good, would do it again.

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  • #6,272
  • Nov 19, 2009 11:09am Nov 19, 2009 11:09am
Quoting puduman
Here's my trade:

EURJPY
Entry: 9:00am (GMT) @ 132.50
Stop: 9:32am (GMT) @ 132.46

What was good?
Everything was in line:

 

  1. 4hr and 1hr: showed clear strong signals (as far as I can say).
  2. 15min: price bounced off kijun sen. Good point for entry.

What have I done wrong?
[list][*]After the trade was 25 pips in profit I set my SL to BE +4 pips. One bar later price came up to exactly where my SL was, stopped me out and continued his way down again. If I had put my SL exactly where my entry was, I would have...

price bounced off the Tenkan Sen and not Kijun Sen.
SL of 21 pips on EJ will be taken out in a flash, where was your SL initially? I would have trailed it with the 15M Kijun sen if not higher.
  • #6,273
  • Nov 19, 2009 11:09am Nov 19, 2009 11:09am
+32 pips on down move.
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  • #6,274
  • Nov 19, 2009 11:10am Nov 19, 2009 11:10am
Quoting lbtrader
hopefully can make a few pips on the down move
Hey LB good to see you man

Do you think this is good for a long now the short has hit TP?
  • #6,275
  • Nov 19, 2009 11:13am Nov 19, 2009 11:13am
Quoting ichidakiller
Hey LB good to see you man

Do you think this is good for a long now the short has hit TP?
not yet, it might retrace further. on the daily the price is inside the kumo now and there is a neutral bearish TS/KS cross.
  • #6,276
  • Nov 19, 2009 11:16am Nov 19, 2009 11:16am
Quoting lbtrader
not yet, it might retrace further. on the daily the price is inside the kumo now and there is a neutral bearish TS/KS cross.
Ok Ill wait to see if the next 4h candle closes above the Kumo also look to see if the 1H closes above the TS before making a decision

Thanks LB
  • #6,277
  • Nov 19, 2009 11:19am Nov 19, 2009 11:19am
Quoting ichidakiller
Ok Ill wait to see if the next 4h candle closes above the Kumo also look to see if the 1H closes above the TS before making a decision

Thanks LB
if it retraces it might reach the lower edge of the kumo, 150 pips.
care to try it on demo?
  • #6,278
  • Nov 19, 2009 11:21am Nov 19, 2009 11:21am
Quoting lbtrader
price bounced off the Tenkan Sen and not Kijun Sen.
SL of 21 pips on EJ will be taken out in a flash, where was your SL initially? I would have trailed it with the 15M Kijun sen if not higher.
Hello lbtrader,

can't you say it bounced off the the Kijun Sen because it got near to it and broke the Tenkan Sen before?

My initial SL was above the 15m kijun like you said. Since there was 132.00 nearby I set it to BE after 25 pips in profit. That's also what vic_elc recommends for this pair on the first pages of this thread.

Would you just trail with 15m kijun or do you think when facing a support line setting SL to BE makes sense?
  • #6,279
  • Nov 19, 2009 11:27am Nov 19, 2009 11:27am
Quoting lbtrader
if it retraces it might reach the lower edge of the kumo, 150 pips.
care to try it on demo?
Tempting
  • #6,280
  • Nov 19, 2009 11:32am Nov 19, 2009 11:32am
Quoting vic_elc
Doc , you must use the tester it will save you a lot of time and a lot of money
if you need to know anything about it let me know
cheers
Hello vic
What is the tester?And where it on the thread?
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