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Ichimoku forever

  • #11,601
  • Mar 30, 2010 10:57am Mar 30, 2010 10:57am
Quoting fxripper
looks like a short opportunity coming
wait for a pullback is better, see 1H, 4H and Day, long is better
  • #11,602
  • Mar 30, 2010 11:01am Mar 30, 2010 11:01am
Quoting redbeben
rafiki-please read the rules for this system

acc to the rules(if I read them well) on a long trade you have to place the stop loss at the bottom of the cloud -5 to 10 pips according to the TF you are on.

please look at the attachement to see how I do it .
for the TP just look back at the CS (the black line )to see the next level of support and resitance as a previous support or resistance could as well be a resitance in the future.I just put my TP there.

this is up to the spread at the end and the SL as you have to calculate the...
sorry for my english, I don`t understand how setup TP, please explain
  • #11,603
  • Mar 30, 2010 11:12am Mar 30, 2010 11:12am
Quoting legalindo
Thanks,

Waiting EUR/CAD - 1 H - Short
Indeed. I was temepted but my spreads are very large, 8 to 10!!
Good luck with your trade.
The things which hurt, instruct! - Benjamin Franklin
  • #11,604
  • Mar 30, 2010 11:26am Mar 30, 2010 11:26am
Quoting Ezmai
Indeed. I was temepted but my spreads are very large, 8 to 10!!
Good luck with your trade.
yup indeed...
  • #11,605
  • Mar 30, 2010 11:31am Mar 30, 2010 11:31am
Quoting Ezmai
Indeed. I was temepted but my spreads are very large, 8 to 10!!
Good luck with your trade.
Is there a way to reduce that spread???

I will buy EURUSD (2) and sell USDCAD (4)... is the resulting spread 6 instead of 10???
  • #11,606
  • Mar 30, 2010 11:36am Mar 30, 2010 11:36am
Quoting nightyhawk
Is there a way to reduce that spread???

I will buy EURUSD (2) and sell USDCAD (4)... is the resulting spread 6 instead of 10???

I don't think hedging works like that. Each pair has a spread differential to cross before BE....if you long E/U but price action moves against you, all things being equal USD/CAD will also move against you. You still have the same double spread to cross, plus the growing losses mounting against you.
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #11,607
  • Mar 30, 2010 12:05pm Mar 30, 2010 12:05pm
Quoting nightyhawk
Is there a way to reduce that spread???

I will buy EURUSD (2) and sell USDCAD (4)... is the resulting spread 6 instead of 10???
LOL. Thanks so much for your suggestion but far tooooo technical for me. I shall aim to trade any pair less than 3 spreads for now. Thanks
The things which hurt, instruct! - Benjamin Franklin
  • #11,608
  • Mar 30, 2010 12:12pm Mar 30, 2010 12:12pm
Quoting Ezmai
LOL. Thanks so much for your suggestion but far tooooo technical for me. I shall aim to trade any pair less than 3 spreads for now. Thanks
See AUD/USD, pullback and long, spread = 3 pips
  • #11,609
  • Mar 30, 2010 12:13pm Mar 30, 2010 12:13pm
guys why do u care about spread so much , just calculate ur risk/reward , position size , and pull the trigger , I dont see a point of complaining about spread when we have a clear signal
  • #11,610
  • Mar 30, 2010 12:18pm Mar 30, 2010 12:18pm
Quoting Iskander
guys why do u care about spread so much , just calculate ur risk/reward , position size , and pull the trigger , I dont see a point of complaining about spread when we have a clear signal
I agree.
  • #11,611
  • Mar 30, 2010 12:19pm Mar 30, 2010 12:19pm
3 breakouts to the down side. wanna short this guys?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 25 KB
  • #11,612
  • Mar 30, 2010 1:00pm Mar 30, 2010 1:00pm
Quoting legalindo
See AUD/USD, pullback and long, spread = 3 pips
Yes I see, thanks. Although we have lower highs and lower lows on the daily???
The things which hurt, instruct! - Benjamin Franklin
  • #11,613
  • Mar 30, 2010 1:04pm Mar 30, 2010 1:04pm
Quoting fxripper
3 breakouts to the down side. wanna short this guys?
^
I am in, SL 0,9265 and first TP 0,9125
Do what you want, but do it in love
  • #11,614
  • Mar 30, 2010 1:04pm Mar 30, 2010 1:04pm
Quoting Iskander
guys why do u care about spread so much , just calculate ur risk/reward , position size , and pull the trigger , I dont see a point of complaining about spread when we have a clear signal

Very true, very true. I guess psychologically I have yet to climb that mountain. I am still fighting to stay in my trades until a valid inci exit signal. For me, one step at a time. Thank you
The things which hurt, instruct! - Benjamin Franklin
  • #11,615
  • Mar 30, 2010 1:25pm Mar 30, 2010 1:25pm
Quoting oli
^
I am in, SL 0,9265 and first TP 0,9125
wow! that's a quite far SL. is your trade a long term trade?
  • #11,616
  • Mar 30, 2010 1:31pm Mar 30, 2010 1:31pm
Apologies guys, have I missed something - why are you shorting AUD? Is that not counter trading??
The things which hurt, instruct! - Benjamin Franklin
  • #11,617
  • Mar 30, 2010 1:35pm Mar 30, 2010 1:35pm
Quoting Ezmai
Apologies guys, have I missed something - why are you shorting AUD? Is that not counter trading??
yeah and i m planning to only scalp it on 15minutes chart. so it should be a short term trade. but i dont know about oli.
  • #11,618
  • Mar 30, 2010 1:40pm Mar 30, 2010 1:40pm
Quoting legalindo
I agree.
Legalindo, sent you a PM.
Trade Smart
  • #11,619
  • Mar 30, 2010 1:43pm Mar 30, 2010 1:43pm
Quoting fxripper
yeah and i m planning to only scalp it on 15minutes chart. so it should be a short term trade. but i dont know about oli.

Ah! Good luck.
The things which hurt, instruct! - Benjamin Franklin
  • #11,620
  • Mar 30, 2010 1:44pm Mar 30, 2010 1:44pm
Quoting Ezmai
Ah! Good luck.
thanks ezmai. u too.good luck
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