hehe thanks , hopefully will be like u one dayhow is backtesting going ?
have a nice weekend
cheers
- #6,566
- Nov 28, 2009 1:23am Nov 28, 2009 1:23am
- Joined Aug 2009 | Status: THE GREAT LEGEND | 2,089 Posts
DRAGON-TECHNICAL ANALYSIS!
- #6,567
- Nov 28, 2009 1:27am Nov 28, 2009 1:27am
- Joined Aug 2009 | Status: THE GREAT LEGEND | 2,089 Posts
DRAGON-TECHNICAL ANALYSIS!
- #6,570
- Nov 28, 2009 4:56am Nov 28, 2009 4:56am
- Joined Aug 2009 | Status: THE GREAT LEGEND | 2,089 Posts
DRAGON-TECHNICAL ANALYSIS!
- #6,573
- Nov 29, 2009 10:48am Nov 29, 2009 10:48am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
TREND IS YOUR FRIEND
How many times you heard this word, how many time you heard them saying we buy when the people are buying and we sell when they are selling !!!!, is it that easy???!!!
Let’s talk about ichimoku and trend following.
We all know that there are several strategies using Ichimoku and they all designed to follow the trend, I’ll talk about the kumo now , and during this week will talk about every single line and how we can use it
Let the show begin
KUMO: it is the soul, it is the mother and it is the TREND
Price above the Kumo = UP TREND
Price below the Kumo= DOWN TREND
But which TF to follow ??!! , when we talk about trend we are talking about the trend on the daily chart , this is what the market is doing and it is what we shall be doing , we buy when they are buying and sell when they are selling.
And yes it is that easy
Below the AUD USD chart for the last year
-Price below the kumo = Down trend = they are selling so we will sell
-Price above the kumo = Up trend = they are buying so we will buy
How to trade??!!
The example is on the daily chart , No brain thinking just following the trend
1-Price below the Kumo = People are selling
We can very easly follow the people , each morning when you open your eyes open a sell position and set you SL with SpanB .
2-Price above the Kumo = people are buying
Will follow the people and will open a buy position each morning I wake up and set my SL with SpanB
YES AM NOT CRAZY , YES IT IS THAT SIMPLE, and if you don’t believe me the chart is very clear and you all can test what I just said , am sure you will end in +ve and more +ve than you imagine
All what you need is a good MM & RM (just know how you will manage your money, close your eyes and follow the trend).
Fell free to ask about anything
Good luck and meet you in the next strategy
How many times you heard this word, how many time you heard them saying we buy when the people are buying and we sell when they are selling !!!!, is it that easy???!!!
Let’s talk about ichimoku and trend following.
We all know that there are several strategies using Ichimoku and they all designed to follow the trend, I’ll talk about the kumo now , and during this week will talk about every single line and how we can use it
Let the show begin
KUMO: it is the soul, it is the mother and it is the TREND
Price above the Kumo = UP TREND
Price below the Kumo= DOWN TREND
But which TF to follow ??!! , when we talk about trend we are talking about the trend on the daily chart , this is what the market is doing and it is what we shall be doing , we buy when they are buying and sell when they are selling.
And yes it is that easy
Below the AUD USD chart for the last year
-Price below the kumo = Down trend = they are selling so we will sell
-Price above the kumo = Up trend = they are buying so we will buy
How to trade??!!
The example is on the daily chart , No brain thinking just following the trend
1-Price below the Kumo = People are selling
We can very easly follow the people , each morning when you open your eyes open a sell position and set you SL with SpanB .
2-Price above the Kumo = people are buying
Will follow the people and will open a buy position each morning I wake up and set my SL with SpanB
YES AM NOT CRAZY , YES IT IS THAT SIMPLE, and if you don’t believe me the chart is very clear and you all can test what I just said , am sure you will end in +ve and more +ve than you imagine
All what you need is a good MM & RM (just know how you will manage your money, close your eyes and follow the trend).
Fell free to ask about anything
Good luck and meet you in the next strategy
- #6,574
- Nov 29, 2009 3:50pm Nov 29, 2009 3:50pm
Hello Traders,
I know we have beaten this to death.
But I truly believe that to be a successful trader Money Management/ Risk Exposure is the key.
As we do have a lot of newbies I want to make sure they have plenty of info to make the proper decisions.
Just like we try to refine our entry and exit strategies I think we should be looking at refining our MM.
Here is a little study I did for myself.
I hope it will enlighten you as it did I.
In my opinion Risk has nothing to do with your strategy. It has to do with your personal comfort level.
That said, it does help to have a strategy you are confident in.
How much should you risk per trade? (% of account)
How many consecutive losers can you have before you blow up 50% of your account?
Here you go: (% per trade)
1% risk = 69 losers
2% risk = 34 losers
3% risk = 22 losers
4% risk = 17 losers
5% risk = 13 losers
I have attached the study for your use.
You can change the % and account balance.
Interesting to note that balance does not effect the outcome much (maybe by one trade +-).
-
Wishing you all many Pips and a Happy New Year!!!!!!!
I know we have beaten this to death.
But I truly believe that to be a successful trader Money Management/ Risk Exposure is the key.
As we do have a lot of newbies I want to make sure they have plenty of info to make the proper decisions.
Just like we try to refine our entry and exit strategies I think we should be looking at refining our MM.
Here is a little study I did for myself.
I hope it will enlighten you as it did I.
In my opinion Risk has nothing to do with your strategy. It has to do with your personal comfort level.
That said, it does help to have a strategy you are confident in.
How much should you risk per trade? (% of account)
How many consecutive losers can you have before you blow up 50% of your account?
Here you go: (% per trade)
1% risk = 69 losers
2% risk = 34 losers
3% risk = 22 losers
4% risk = 17 losers
5% risk = 13 losers
I have attached the study for your use.
You can change the % and account balance.
Interesting to note that balance does not effect the outcome much (maybe by one trade +-).
-
Wishing you all many Pips and a Happy New Year!!!!!!!
Attitude can reflect outcome in life and trading!
- #6,577
- Nov 29, 2009 4:21pm Nov 29, 2009 4:21pm
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Hello Traders,
I know we have beaten this to death.
But I truly believe that to be a successful trader Money Management/ Risk Exposure is the key.
As we do have a lot of newbies I want to make sure they have plenty of info to make the proper decisions.
Just like we try to refine our entry and exit strategies I think we should be looking at refining our MM.
Here is a little study I did for myself.
I hope it will enlighten you as it did I.
In my opinion Risk has nothing to do with your strategy. It has to do with your personal comfort...
Happy new year Big Bro
- #6,578
- Nov 29, 2009 4:30pm Nov 29, 2009 4:30pm
Wisdom speaks
Happy new year Big Bro
Sorry I haven't been around much. Life has been a little crazy with the economy here in the US. I have not had any new projects in the last 4 months. So I am having to decide whether to fold my business and look for work.
Had to take out money from my trading account to live.
If I had more money I would put it all in my trading account and go full-time.
But know is not the time.
Happy note, I have more time to perfect my trading!!!!!!
Glad the thread is still going strong!!!
Attitude can reflect outcome in life and trading!
- #6,580
- Nov 29, 2009 4:59pm Nov 29, 2009 4:59pm
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Hi Vic,
Sorry I haven't been around much. Life has been a little crazy with the economy here in the US. I have not had any new projects in the last 4 months. So I am having to decide whether to fold my business and look for work.
Had to take out money from my trading account to live.
If I had more money I would put it all in my trading account and go full-time.
But know is not the time.
Happy note, I have more time to perfect my trading!!!!!!
Glad the thread is still going strong!!!
have a great week