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Ichimoku forever

  • #15,121
  • Dec 16, 2010 4:55am Dec 16, 2010 4:55am
Quoting dnabrasil
my friends..

this week seems to be profitable for me!!

i remmeber you i'm demoing, but this week i gave me a try: the goal is 500 pips in one week as i sad some pages ago!

at the moment i'm at + 454... near the target..
if i reach it i will post my statement... you will see some wrong operation ( but i'm not a magician!! i'm only a poor trader-student!! ) but you will also see some +170 pips operation like usdchf!!!!

btw, the important is the goal!!

and... i'm thinking... if i reach the target in a month like december... perhaps i will...

500 pip week, thats excellent. Im with you on this, I think it is do able within reason. Some weeks slightly below and some weeks maybe slightly over.

Once you are comfortable with the strategy on demo, maybe you should try micro and then standard account.

If I have a few bad trades, like my silly one this week (entered £20 per pip instead of £2 per pip and lost £600) then I go back to my micro account. It gets me back into the flow and I have no emotions over the money because I can trade at 10p per pip.

So the move from demo to micro gets you trading with money but helps with very little emotion.

just a thought.

Anyway, good luck.
  • #15,122
  • Dec 16, 2010 6:39am Dec 16, 2010 6:39am
Quoting dnabrasil
my friends..

this week seems to be profitable for me!!

i remember you i'm demoing, but this week i gave me a try: the goal is 500 pips in one week as i sad some pages ago!

at the moment i'm at + 454... near the target..
if i reach it i will post my statement... you will see some wrong operation ( but i'm not a magician!! i'm only a poor trader-student!! ) but you will also see some +170 pips operation like usdchf!!!!

btw, the important is the goal!!

and... i'm thinking... if i reach the target in a month like december... perhaps...
complimenti signore!!
  • #15,123
  • Dec 16, 2010 7:03am Dec 16, 2010 7:03am
Quoting Ichi Kid
500 pip week, thats excellent. Im with you on this, I think it is do able within reason. Some weeks slightly below and some weeks maybe slightly over...........

Anyway, good luck.
You are right, 500 pips per week is achievable but "as an average". It is something that needs to be looked at once every 3 months to 6 months before calculating this average.

Setting short term pip targets is a recipe for disaster because very often there will be weeks when ichi offers no easy pips at all when the market is not trending.

It's these weeks that are most dangerous because it encourages ichi traders to start seeing things that maybe aren't quite there yet. When the sheet is on holidays, we need to be

You quickly realise that your exit strategy is the key to longer term success. This is how to maximise your opportunities that ichi gives to you. Sometimes opening 3 positions is good, TP1 @ 20-30, TP2 @50-60, TP3@100-120.

If you get to TP1 then TP2 and TP3 are normally close to break even. Then when you get to TP2 just leave position 3 at break even to do what it wants. It will catch the run away trades and cost you nothing on retracements.

Hit TP1 6 x out of 10, TP2 3 x out of 10 and TP3 once out of 10 you are making 6 x 25 pips + 3 x 80 pips + 1 x 190 pips = 580 pips

Your targets all need to depend on the timeframe you are trading and the pair you are watching. If you keep very close track of the average daily trading range in each pair then you can feel more confident is setting realistic targets.

Obviously you can adjust how you allocate trades infinitely to satisfy your own risk preferences but I would think that what I have listed above is a VERY conservative assessment of what is available on a 30-min chart.

Thoughts anyone?
  • #15,124
  • Dec 16, 2010 7:13am Dec 16, 2010 7:13am
Quoting 4xAddict
You are right, 500 pips per week is achievable but "as an average". It is something that needs to be looked at once every 3 months to 6 months before calculating this average.

Setting short term pip targets is a recipe for disaster because very often there will be weeks when ichi offers no easy pips at all when the market is not trending.

It's these weeks that are most dangerous because it encourages ichi traders to start seeing things that maybe aren't quite there yet. When the sheet is on holidays, we need to be

You quickly realise...
those 500 pips are in a real account? if you are in demo should be very careful, usually operating in demo is very different from the real operation
  • #15,125
  • Dec 16, 2010 7:19am Dec 16, 2010 7:19am
Since yesterday I am short in GBP / JPY, what you think you?

Thanks!
  • #15,126
  • Dec 16, 2010 7:35am Dec 16, 2010 7:35am
Quoting legalindo
Since yesterday I am short in GBP / JPY, what you think you?

Thanks!
Close: - 30 pips.
  • #15,127
  • Dec 16, 2010 7:49am Dec 16, 2010 7:49am
Quoting 4xAddict
You are right, 500 pips per week is achievable but "as an average". It is something that needs to be looked at once every 3 months to 6 months before calculating this average.

Setting short term pip targets is a recipe for disaster because very often there will be weeks when ichi offers no easy pips at all when the market is not trending.

It's these weeks that are most dangerous because it encourages ichi traders to start seeing things that maybe aren't quite there yet. When the sheet is on holidays, we need to be

You quickly realise that...
Totally agree with your input. Would just like to add that it's not recommended to just rely on a specific pip target per day or per week or per month, as psychologically if you have not achieved the pip target for a period of time, you would feel the need to "want to trade more", and that is another recipe for disaster.

Take for example, today is a holiday for me, and I assume for some of you too, as the strongest signals for the day (gbpchf and gbpusd) did not give me 15min breakout signal to trade. 3rd strongest pair (gbpaud) gave a short signal after breakout in the early london hours but it's a fake breakout, meaning the 2nd and 3rd candles do not close below the breakout candles. That's why for my trades, I would prefer to stick with the 2 strongest pairs that our boss give us. However, as mentioned in the above paragraph, if you feel the need to get more pips to achieve more, i am 99% sure you would have entered short on gbpaud, and be in the red zone or even get stopped out depending on your trading style judging from current PA.

just my 2cents of thoughts.
  • #15,128
  • Dec 16, 2010 8:16am Dec 16, 2010 8:16am
Quoting 4xAddict
You are right, 500 pips per week is achievable but "as an average". It is something that needs to be looked at once every 3 months to 6 months before calculating this average.

Setting short term pip targets is a recipe for disaster because very often there will be weeks when ichi offers no easy pips at all when the market is not trending.

It's these weeks that are most dangerous because it encourages ichi traders to start seeing things that maybe aren't quite there yet. When the sheet is on holidays, we need to be

You quickly realise...

  • #15,129
  • Dec 16, 2010 8:18am Dec 16, 2010 8:18am
Looking at GBPUSD and EURUSD for short opportunities, as well as GBPAUD (Ill unlikely make this trade due to lack of strength as compared to the previous 2, but an option to consider if a signal comes)

Guess if these doesn't come, Ill have an early xmas vacation.
  • #15,130
  • Dec 16, 2010 8:18am Dec 16, 2010 8:18am
Quoting kcooper
Totally agree with your input. Would just like to add that it's not recommended to just rely on a specific pip target per day or per week or per month, as psychologically if you have not achieved the pip target for a period of time, you would feel the need to "want to trade more", and that is another recipe for disaster.

Take for example, today is a holiday for me, and I assume for some of you too, as the strongest signals for the day (gbpchf and gbpusd) did not give me 15min breakout signal to trade. 3rd strongest pair (gbpaud) gave a short...
Whilst its important to have a focus and a positive expectancy on the number of pips you wish to collect (and keep in mind its just a wish), I think its more important to set a limit on the number of pips you allow yourself to lose per day or per week that should be a first priority. The name of the game is preservation. As with any trend-respecting system you will collect big bucks when the trend comes; but the trick is to survive as well as you can in non-trending weeks, cut your losses short, resist making careless errors, throwing on revenge trades to get to break-even, and/or a million and one other mistakes etc.

Rather than setting a hard target of 500 pips, you should allow yourself to be happy with a range, say 300 to 500, if that's what you choose. But you've got to be able to have the flexibility to say to yourself: no need to be greedy, the market is not allowing me to do what I want today BUT there's always another trade another day (so I'm going to walk away from the trading desk now).

Pretty basic stuff but the application of which requires diamond discipline.

Chngster
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #15,131
  • Dec 16, 2010 8:26am Dec 16, 2010 8:26am
Quoting kcooper
Looking at GBPUSD and EURUSD for short opportunities, as well as GBPAUD (Ill unlikely make this trade due to lack of strength as compared to the previous 2, but an option to consider if a signal comes)

Guess if these doesn't come, Ill have an early xmas vacation.
GBPUSD and EURUSD are selected but, and i believe it was mentioned before, EURUSD should be selected as a non-trade since h1 and h4 arent in the same line. Also news coming
  • #15,132
  • Dec 16, 2010 8:29am Dec 16, 2010 8:29am
Quoting huskyboy
GBPUSD and EURUSD are selected but, and i believe it was mentioned before, EURUSD should be selected as a non-trade since h1 and h4 arent in the same line. Also news coming
yes sir, thats why in my title i wrote "4h pending for EURUSD". Hence i'm waiting for 4h to give me PA. Thanks for the clarification though

Add: as for the news, since it's not a "high" priority, I would usually trade unless it's high. Vic also practises this as well I think as a few posts before he mentioned about that in his EURCHF trade.

Nonetheless, lets see what the PA gives us. Im getting lazy honestly. Would walk away from my station in 1 hour's time.
  • #15,133
  • Dec 16, 2010 8:30am Dec 16, 2010 8:30am
Quoting legalindo
those 500 pips are in a real account? if you are in demo should be very careful, usually operating in demo is very different from the real operation
yes this is achievable in a real account. But as I said before as an average across a number of months.

If people set themselves strong money management processes and then just let the trades run themselves this is very possible. It is when people start setting short term targets for themselves that they start making mistakes of judgement.

Chngster is correct that having a limit you are prepared to lose each week can be a good idea however only if you are disciplined enough to stay away from the computer till the coming Monday. Some people find themselves taking trades with smaller stop losses than they should when their loss buffer is getting low so it is better to just follow the sheet if you have trouble controlling your urge to trade.

If the sheet gives you 20 trades per week take them, if it gives you 0 then take 0. My numbers before were simply showing the kind of results that careful money management can yield, please understand I was not saying aim for 6 TP1 hits, 3 TP22 hits and 1 TP3 hit per week. This was just showing how easy it is to make over 500 pips in 10 trades with very conservative money management.

If you use good money management and take all the trades that the sheet gives you THEN I believe is likely that you can average more than 500 pips per week in the long term but you will need to trade a lot each day to ensure that you take every opportunity.
  • #15,134
  • Dec 16, 2010 9:08am Dec 16, 2010 9:08am
Hey all,

a 4hr close below 1.3200 will mark the selling point on the EURUSD once we get the next 15min signal. A few hours till this closes but worth watching.
  • #15,135
  • Dec 16, 2010 9:26am Dec 16, 2010 9:26am
Quoting 4xAddict
Hey all,

a 4hr close below 1.3200 will mark the selling point on the EURUSD once we get the next 15min signal. A few hours till this closes but worth watching.


today am not doing anything but waiting for this entry

cheeeeeeeeeers mate
  • #15,136
  • Dec 16, 2010 9:33am Dec 16, 2010 9:33am
For me I'll wait for GBPUSD 15 min entry. I shall leave for EURUSD for tomorrow or next week if I can steal some time to trade from hols. If not i'll leave it to you guys to terrorize eurusd haha!

happy trading people.
  • #15,137
  • Dec 16, 2010 11:54am Dec 16, 2010 11:54am
Currently watching USDCHF for a short on 1hr kumo breakout.

This chart shows what else I am seeing on this pair from a daily perspective that suggests price will move lower.

Failure at horizontal resistance level and also a rising trend line. Could have some pips in it and with the current USD strength elsewhere probably suggests that the EURCHF and GBPCHF could get really whacked.

Cheers,

4x.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 17 KB
  • #15,138
  • Dec 16, 2010 1:43pm Dec 16, 2010 1:43pm
here is the best thing i found today

enjoyy

Inserted Video
  • #15,139
  • Dec 17, 2010 1:21am Dec 17, 2010 1:21am
Morning all. Friday again already, time flies when you are having fun.
  • #15,140
  • Dec 17, 2010 2:01am Dec 17, 2010 2:01am
Waiting for a Ts/Ks cross in M5 for GBPCHF
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