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Ichimoku forever

  • #16,001
  • Apr 14, 2011 10:14am Apr 14, 2011 10:14am
Quoting forex1962
Kinonen, I've worked this Kumo to death and I've been missing out on so many trades, take a look at this, I've taken 100 pips short and now 60+ pips long on eu just using pa and a few indis and ignoring Kumo am I wrong?

no ! when you win you are never wrong
don't know your indicators and your bbmacd is really different of mine even when i put 38/120/20
i'm rather a scalper , don't stay long
what i want is to take corrct trades quickly
kino
  • #16,002
  • Apr 14, 2011 1:33pm Apr 14, 2011 1:33pm
Took this trade today...entered one early in the AM around 2am CST, but got stopped out on my long...this is my 2nd attempt...

Stop is at the yellow line....don't have a target set...will eye it and possibly add to positions....
Attached Image (click to enlarge)
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  • #16,003
  • Apr 14, 2011 1:37pm Apr 14, 2011 1:37pm
Nice setup, can you share indi and templates?


Quoting forex1962
Kinonen, I've worked this Kumo to death and I've been missing out on so many trades, take a look at this, I've taken 100 pips short and now 60+ pips long on eu just using pa and a few indis and ignoring Kumo am I wrong?
  • #16,004
  • Apr 15, 2011 8:00am Apr 15, 2011 8:00am
Hi I have been using Ichimoku for 6 weeks now and I am achieving an average profit of 100 pips per week. I believe I am trading it as outlined by Vic Elec at the start of the thread;
T/K cross below cloud short, or above cloud long
Future cloud sentiment matches direction of trade
Chikou Span has cleared price action in direction of trade
I generally take trades of 5 Min chart looking for confirmation of tend on higher time frame charts.
Risk reward must be at least 1:1
Take profit at 50 pips, I sometimes let this run up to 100 on the Yen crosses, but not to much because I am trading off a 5 min chart.

My win/loss ratio is only 55/45, but am making a profit due to very good risk reward. I am very happy as this is the first time I have really had any consistent profit in my 3 years of trading. I would love to improve the win/loss ratio, any advice would be welcome?
  • #16,005
  • Apr 15, 2011 9:15am Apr 15, 2011 9:15am
Quoting Tkd
Hi I have been using Ichimoku for 6 weeks now and I am achieving an average profit of 100 pips per week. I believe I am trading it as outlined by Vic Elec at the start of the thread;
T/K cross below cloud short, or above cloud long
Future cloud sentiment matches direction of trade
Chikou Span has cleared price action in direction of trade
I generally take trades of 5 Min chart looking for confirmation of tend on higher time frame charts.
Risk reward must be at least 1:1
Take profit at 50 pips, I sometimes let this run up to 100 on the Yen crosses,...
keep it up and dont change anything for the next few months. by then u will know how to tweak your win loss ratio.
  • #16,006
  • Edited 9:47am Apr 15, 2011 9:28am | Edited 9:47am
Seems a pretty good set up on EU, 40 pips to be had.
Anyone wanting to know more about Ichimoku should really read 'Trading with Ichimoku Clouds' by Manesh Patel, just finished it and would highly recommend it.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 29 KB
  • #16,007
  • Apr 15, 2011 10:17am Apr 15, 2011 10:17am
Hi TKD,

Congrats on your improved trading.

On your risk to reward, how are you determining your stops vs targets?

What are you using to signal your exits?


Quoting Tkd
Hi I have been using Ichimoku for 6 weeks now and I am achieving an average profit of 100 pips per week. I believe I am trading it as outlined by Vic Elec at the start of the thread;
T/K cross below cloud short, or above cloud long
Future cloud sentiment matches direction of trade
Chikou Span has cleared price action in direction of trade
I generally take trades of 5 Min chart looking for confirmation of tend on higher time frame charts.
Risk reward must be at least 1:1
Take profit at 50 pips, I sometimes let this run up to 100 on the Yen crosses,...
  • #16,008
  • Apr 15, 2011 12:07pm Apr 15, 2011 12:07pm
Quoting myfxjournals
Hi TKD,

Congrats on your improved trading.

On your risk to reward, how are you determining your stops vs targets?

What are you using to signal your exits?
Hi

I use the opposite side of the cloud as my stop and I move it to break even when it goes 25 points in my favor. I use a fixed take profit which is normally 50 pips, I don't take any trades with anything less than a 1:1 risk reward so the stop must not exceed 50 pips at other side of cloud or I skip the trade. On the EUR/JPY and GBP/JPY I sometimes let them run on to up to 100 pips, and with those two only I will allow a larger stop up to 75 pips as they have a bigger daily range than most pairs, but I only do this when it looks like they could easily achieve the 100 pips i.e. no support or resistance in the way of the profit target.
  • #16,009
  • Apr 15, 2011 7:02pm Apr 15, 2011 7:02pm
Hi folksevery week Manesh Patel posts his weekly analysis with videos about currency,commodities and stock markets.
that is very good because he proposes what would be a good possible trade and the opposite also,its really helpful!

check his channel here

www.youtube.com/user/sunman4008
Never again will fade the trend
  • #16,010
  • Apr 16, 2011 3:05am Apr 16, 2011 3:05am
Quoting swingfiddle
Hi folksevery week Manesh Patel posts his weekly analysis with videos about currency,commodities and stock markets.
that is very good because he proposes what would be a good possible trade and the opposite also,its really helpful!

check his channel here

www.youtube.com/user/sunman4008
That's great thank you swingfiddle, any idea how we access that heat map he uses?
  • #16,011
  • Apr 16, 2011 4:29am Apr 16, 2011 4:29am
Quoting forex1962
That's great thank you swingfiddle, any idea how we access that heat map he uses?
well its not for free.he offers a subscription with the heatmap and trade plans.

check it here

http://www.ichimokutrade.com/index.php

there is also this forum availible which is for ichi only.(we could concetrate on ichimoku trading more than here i believe)
http://www.kumotrader.com/forum/index.php

i am not advertising anything just want to help each other and mayby work as a team.lets make a trade room somewhere and give each other ideas,possible trades,what would be a good trade,possible future setups to trade.
i think it can workout better if a team works -rather than one by one for their selves...
Never again will fade the trend
  • #16,012
  • Apr 16, 2011 8:28am Apr 16, 2011 8:28am
Quoting forex1962
Anyone wanting to know more about Ichimoku should really read 'Trading with Ichimoku Clouds' by Manesh Patel, just finished it and would highly recommend it.
I would agree with that, read it a while back, great book. I have also e-mailed Manesh Patel a couple of time, he always replies and is extremely helpful guy. He has also posted lots of free stuff on U-tube.
  • #16,013
  • Apr 16, 2011 7:10pm Apr 16, 2011 7:10pm
Quoting forex1962
Seems a pretty good set up on EU, 40 pips to be had.
Anyone wanting to know more about Ichimoku should really read 'Trading with Ichimoku Clouds' by Manesh Patel, just finished it and would highly recommend it.
very nice chart and colors, i will try to post some charts from the next week..
  • #16,014
  • Apr 16, 2011 10:59pm Apr 16, 2011 10:59pm
Hi I have been trying to get a copy of the sheet template, but the link doesn't seem to work, https://docs.google.com/leaf?id=0B24...Yzc1OWI3&hl=en.

Thanks to all the contributors of this thread, never read anything like it before. Brilliant.
  • #16,015
  • Apr 18, 2011 12:11am Apr 18, 2011 12:11am
Hi Everybody
I like the thread and been following it for a couple of days now. I have only recently converted to Ichimoku trading, so still struggeling a bit.
Currently I only use the break of the cloud as entry. The HARDEST part of the style I find is where to place my stop and profit target and how to manage it. Any suggestions? At the moment I use hard take profit which cause me to miss out on the longer runs.
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,016
  • Apr 18, 2011 4:09am Apr 18, 2011 4:09am
money management is very key here. i find it is best to take multiple positions. one with a hard profit target and one with a trailing.
SL other side of the cloud + a couple of pips.
i'm also trialling having a third positions just to cover the first two trades stops.

Quoting Jns
Hi Everybody
I like the thread and been following it for a couple of days now. I have only recently converted to Ichimoku trading, so still struggeling a bit.
Currently I only use the break of the cloud as entry. The HARDEST part of the style I find is where to place my stop and profit target and how to manage it. Any suggestions? At the moment I use hard take profit which cause me to miss out on the longer runs.
  • #16,017
  • Apr 18, 2011 6:22am Apr 18, 2011 6:22am
Quoting captaincol
money management is very key here. i find it is best to take multiple positions. one with a hard profit target and one with a trailing.
SL other side of the cloud + a couple of pips.
i'm also trialling having a third positions just to cover the first two trades stops.
Thanks for the reply I open 5 positions take profit with 2 positions and let the rest run but I usually get stopped too soon as my Trailing stop is too tight I have increased it previously but found it to come back and stop me out on original stop. I'll have too test some more options maybe a smoothed Heiken ashi or something like that
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,018
  • Apr 18, 2011 6:40am Apr 18, 2011 6:40am
Hope everyone is with me on EJ ride down! EU is joining in as well. Do catch these moves guys. Strongest of the day so far!
  • #16,019
  • Apr 18, 2011 8:18am Apr 18, 2011 8:18am
Quoting swingfiddle
well its not for free.he offers a subscription with the heatmap and trade plans.

i am not advertising anything just want to help each other and mayby work as a team.lets make a trade room somewhere and give each other ideas,possible trades,what would be a good trade,possible future setups to trade.
i think it can workout better if a team works -rather than one by one for their selves...
Hi Swingfiddle,

I'm interested in the trade room & believe we can help each other trade well. I posted 16 potential trades I was looking at on twitter (@919gilead) over the week-end, and 12 were triggered giving potential pips of 22 - 246!!! I use the currency strength meter to determine the best pair to trade. Let me know when you folks are ready. I am a fulltime trader (on PST), and always available except on Sundays when I am in church throughout.

Good pips to all.

Cheers, and God bless

George
Low Risk Low Stress High Reward High Probability Trades
  • #16,020
  • Apr 18, 2011 8:35am Apr 18, 2011 8:35am
Quoting Jns
Hi Everybody
I like the thread and been following it for a couple of days now. I have only recently converted to Ichimoku trading, so still struggeling a bit.
Currently I only use the break of the cloud as entry. The HARDEST part of the style I find is where to place my stop and profit target and how to manage it. Any suggestions? At the moment I use hard take profit which cause me to miss out on the longer runs.
Hi JNS, what time frame are you trading off?
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