entered this morning CHFGBP @ 1.51135 and CHFJPY @ 87.49 ; been away and just back and first closed, second stil running; both entered because our boss said so this morning. How long can you stay in a trade, as long as the sheet is suggesting to stay in like for the moment ?
- #15,103
- Dec 15, 2010 6:22am Dec 15, 2010 6:22am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
entered this morning CHFGBP @ 1.51135 and CHFJPY @ 87.49 ; been away and just back and first closed, second stil running; both entered because our boss said so this morning. How long can you stay in a trade, as long as the sheet is suggesting to stay in like for the moment ?
i just went out cause we got a reverse Ts Ks cross, more over i am ok with the pips i got today , so i better go enjoy some life
and you get those pips p.s. don't forget to share some with me
- #15,104
- Dec 15, 2010 6:26am Dec 15, 2010 6:26am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Hi UsM
The sheet is just a tool that helps us quickly see pairs that may be setting up for trades.
This is not something that will provide you with automated sell signals, it just saves you from having to continually cross between different charts all the time. You still need to be the trader - i.e decide when to enter and exit etc..
4x.
pure wisdom mate
cheers
- #15,105
- Dec 15, 2010 6:29am Dec 15, 2010 6:29am
- | Joined Sep 2009 | Status: Trader | 1,425 Posts
u can stay in the trade as long as everything is ok and the boss saying so .
i just went out cause we got a reverse Ts Ks cross, more over i am ok with the pips i got today , so i better go enjoy some life
p.s. don't forget to share some with me
SL right under MA 50 which seems to be S for the moment. I did enter a bit too late but as usual there is always something not perfect, but like you say "respect the sheet" and gains will follow.
- #15,106
- Dec 15, 2010 6:43am Dec 15, 2010 6:43am
i don't know why no one of u guys mention this one , but any how it was better if u were not in
i am closing it now for zero pips, got a ts ks cross to the down side so i'd better stay aside for now
I saw this is one of the strongest, and I still believe it'll still be one of the strongest. However it has been pretty strong for the past few days and I would be cautious on trading it everyday. Moreover I would only trade the strongest pair based on our boss.
Nonetheless for chfjpy if you only have a target of 20 pips, you would have reached them. But yeah i know sometimes it's difficult to keep ourselves disciplined with only 20 pips.
As for usdchf, yeah I did not trade that one since I realized it wasn't our star for the day. Our star for the day is GBPCHF and GBPAUD (after gbpchf).
Anyways hope everyone made great pips.
- #15,107
- Dec 15, 2010 7:09am Dec 15, 2010 7:09am
Hi Guys.
GBPCHF has been a tear away success sell trade today - full credit goes to the sheet
Just watch the 1.4940 area in this pair. it is a wave pattern extension along with a fibonacci extension area and would provide a good end point for the current push lower in the GBPCHF. Retracement potential is up to the 1.53 area and 1.51 as a minimum.
Just be careful adding to any positions now that it is this far extended. I myself am considering a small long trade from that level based on other analysis that I do however colleagues of mine are also starting to notice some divergence in the GBP crosses indicating this latest bout of strong weakness my be due to stop and take a breath for a moment.
Be careful short down here!
Cheers.
GBPCHF has been a tear away success sell trade today - full credit goes to the sheet
Just watch the 1.4940 area in this pair. it is a wave pattern extension along with a fibonacci extension area and would provide a good end point for the current push lower in the GBPCHF. Retracement potential is up to the 1.53 area and 1.51 as a minimum.
Just be careful adding to any positions now that it is this far extended. I myself am considering a small long trade from that level based on other analysis that I do however colleagues of mine are also starting to notice some divergence in the GBP crosses indicating this latest bout of strong weakness my be due to stop and take a breath for a moment.
Be careful short down here!
Cheers.
- #15,109
- Dec 15, 2010 8:12am Dec 15, 2010 8:12am
Perhaps this would help those who have trouble with exits................
Just wanna give something back to the forum since this ichimoku strategy is absolutely wonderful IMO. Thanks Vic and all others for starting on this.
It's really a matter of whether people are chasing a fixed target or letting them run.
A lot of guys have a pip target in mind others like to take half off once they're up 20-25 pips and then trail the 15min or 30min KS depending on the TF they are trading. This obviously puts a decent chunk of your profits at risk at times however some guys find they trail the KS until there is a strong move and once the price action is greater than 50, 75 even 100 pips from the KS they close the position and wait for a retest to the KS or kumo.
You can see the threshold that the price action likes to run away from the KS on the GBPCHF chart at the moment is approx 80 pips at its furthest so taking profits when prices get over 60 pips from the KS is also a good way to ensure you are getting a good piece of the action. Doing that today would have got you out around 1.5015-20 area which is the lion's share of the move. The reason I say 60 pips here is because it is 75% of the normal max threshold on these time frames which is conservative enough to normally get you a decent result.
Depends on the trader. Your method has a solid logic to it. Thanks for sharing it here
4x
- #15,115
- Dec 15, 2010 11:19pm Dec 15, 2010 11:19pm
morning
With news on CHF in 60-75min, I would avoid trading all CHF pairs for the next 2-3 hours.
Instead I think GBPUSD is a better bet for today, although I would only trade on a break below 15min kumo cloud. If not guess I'll take today as a holiday
- #15,116
- Dec 16, 2010 1:00am Dec 16, 2010 1:00am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Nice.
With news on CHF in 60-75min, I would avoid trading all CHF pairs for the next 2-3 hours.
Instead I think GBPUSD is a better bet for today, although I would only trade on a break below 15min kumo cloud. If not guess I'll take today as a holiday
i loveeeeeeeeeeeee holidaysssssssss
good luck
- #15,117
- Dec 16, 2010 2:16am Dec 16, 2010 2:16am
- | Commercial User | Joined Sep 2008 | 2,498 Posts
Seems that we all gonna have a holiday today
i loveeeeeeeeeeeee holidaysssssssss
good luck
- #15,119
- Dec 16, 2010 2:42am Dec 16, 2010 2:42am
Seems that we all gonna have a holiday today
i loveeeeeeeeeeeee holidaysssssssss
good luck