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Ichimoku forever

  • #16,021
  • Apr 18, 2011 8:39am Apr 18, 2011 8:39am
Quoting 919gilead
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
Trade room sounds like a great idea to me. Let me know what I can do to help. I really appreciate all the great people on here who have given there expert advice and time for free.
  • #16,022
  • Apr 18, 2011 11:23am Apr 18, 2011 11:23am
Hello 919gileadm and Tkd!

I posted a new thread,i named it Ichimoku Trade Room and its here

http://www.forexfactory.com/showthre...29#post4553029

we can start from there!
Never again will fade the trend
  • #16,023
  • Apr 18, 2011 11:29am Apr 18, 2011 11:29am
Quoting swingfiddle
Hello 919gileadm and Tkd!

I posted a new thread,i named it Ichimoku Trade Room and its here

http://www.forexfactory.com/showthre...29#post4553029

we can start from there!
Thx Swingfiddle, will check out the temp room :-)

George
Low Risk Low Stress High Reward High Probability Trades
  • #16,024
  • Apr 18, 2011 6:58pm Apr 18, 2011 6:58pm
Quoting Tkd
Hi JNS, what time frame are you trading off?
Hi Tkd. I trade between the 30min and the Daily (provided the stop are not too big) I tried the 5 and 15 for scalping but had no luck. Demo trading currently till I'm comfortable with the system.
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,025
  • Apr 18, 2011 9:08pm Apr 18, 2011 9:08pm
Quoting Jns
Hi Tkd. I trade between the 30min and the Daily (provided the stop are not too big) I tried the 5 and 15 for scalping but had no luck. Demo trading currently till I'm comfortable with the system.
Hi Jns

I generally trade of 5 and 15 min. I think the stop and target has to relate to the time frame. I like the stop to be the other side of the cloud, and because I am using 5 and 15 min and there is a lot of noise I look for fixed targets of 50 pips on EUR/USD, GBP/USD and up to 100 pips on EUR/JPY and GBP/JPY. I'm not worried about losing out on big run, I can always re-enter on a pull back which on a 5 and 15 min there is normally plenty of, and I have at least bagged some profit. As far as the stop goes, whilst I like to put it the other side of the cloud if I can't get a risk reward of at least 1:1 I skip the trade. I think there is also some benefit in not taking the trade if it is to close so although I have done it I now skip a trade where the stop is less than 10. I know a lot of people use the Kinjun Sen to trail the stop, but I tried this with little success even on daily.

Hope that helps.
  • #16,026
  • Apr 19, 2011 3:19am Apr 19, 2011 3:19am
Quoting kinonen
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
Hello Kinonen, I have been following this tread for a long time now and I find your posts and indicators very usefull especially the currency histogram which am still using. However, there is a trading strategy that I have been following on a higher timeframe. It has to do with the crosing of two moving averages. It has been very profitable for me and I will like to test how profitable it will be if it is coded as an EA (expart Advisor). I know you are a very good programmer. If you can do this, pls Email me at [email protected] so that I will send the details and settings to you. And to any one who thinks he can or knows someone who can, pls refer me to that person. Thank you and am waiting for your reply.
{Spam Removed}
  • #16,027
  • Apr 19, 2011 6:38pm Apr 19, 2011 6:38pm
I came across this strategy whilst browsing around and wondered if anyone had tried it.
It looks good but I just wanted to clarify the settings.
I've set the TS & KS @ 9 54 52 and the Kumo @ 9 26 52 but not sure about the Chikou?
Any advice much appreciated.
Attached File(s)
File Type: pdf High Probability Kumo Breakout trading.pdf   214 KB | 3,407 downloads
  • #16,028
  • Apr 20, 2011 9:04am Apr 20, 2011 9:04am
chikou is just 1sma shifted back 26times. you can create chikou ot any chart even if you are not using ichi at all.
  • #16,029
  • Edited 3:52pm Apr 20, 2011 3:38pm | Edited 3:52pm
No offense to anyone, but I think Ichimoku is a waste of time. Its too slow and by the time the major move is well on the way, price has just broken the Kumo....

Visually it looks great, back testing it does work because I have back tested it from 2001 to present...however, you give up a lot of good entries within the Kumo...and waiting for it to break between reversals for a clean trend..

If you want to see what I mean by this, simply have a look at the 4hr EURJPY and EURUSD....both move in the same direction, yet one is above KUMO (EURUSD) the other is below (EURJPY)
  • #16,030
  • Apr 20, 2011 9:59pm Apr 20, 2011 9:59pm
Quoting myfxjournals
No offense to anyone, but I think Ichimoku is a waste of time. Its too slow and by the time the major move is well on the way, price has just broken the Kumo....

Visually it looks great, back testing it does work because I have back tested it from 2001 to present...however, you give up a lot of good entries within the Kumo...and waiting for it to break between reversals for a clean trend..

If you want to see what I mean by this, simply have a look at the 4hr EURJPY and EURUSD....both move in the same direction, yet one is above KUMO (EURUSD)...
Do you have problem catching reversal point? Not forgetting, ichimoku is a trend follower. It doesnt suit many people. I had my hard time adapting to this concept, which is working well for me now.
  • #16,031
  • Apr 20, 2011 11:05pm Apr 20, 2011 11:05pm
No, I do not have any problems catching reversal points. In fact, that is one of my strong traits.....I also do not have issues riding trends for lengths of time.....I'm not saying Ichimoku is a bad indie, it is in fact a good one, but what I am saying is that you do give up lots of good opportunities as well...


Quoting GeraldFX
Do you have problem catching reversal point? Not forgetting, ichimoku is a trend follower. It doesnt suit many people. I had my hard time adapting to this concept, which is working well for me now.
  • #16,032
  • Apr 21, 2011 1:42am Apr 21, 2011 1:42am
Quote
I think Ichimoku is a waste of time
Quote
back testing it does work
Quote
I'm not saying Ichimoku is a bad indie, it is in fact a good one

It looks like you are not comfortable with Ichimoku?
I'm sure if you were to study it for longer, you can be profitable with it.
  • #16,033
  • Apr 21, 2011 7:54am Apr 21, 2011 7:54am
The SFO in NZ has cleared WSD GLOBAL Markets Ltd., RIAZ PATEL and related companies of any wrong doing and has closed its investigation. This is a perfect example of the Truth prevailing and finally the blackmailers and people that have consistently lead a smear and hate campaign against the company and its principles have EGG in their faces. It is unfortunate that the various blogs and forums over teh web were used to maliciously damage the companies reputation. However, in the end all that is restored. This is the 2nd SFO investigation into the company's affairs which has been closed and company and its principals cleared.

This post has been written from NZ by a concerned resident of NZ as I just coudnt figure out why so many web blogs and forums were targetting them until I did my own research and it wasnt long before I could find out the facts that there was massive hate and smear campaign led against these people culminating from disgruntled staff and business associates.

Marissa


Quoting ichi360
Hey mate,

Just off the topic but some advise for you, please close your account with WSD as soon as tomorrow and get your money back from them before they tell you some nasty news ... I'm sure you're aware of their bank closure in Cook Island.

Search for some other broker.

Cheers,
Asher
  • #16,034
  • Apr 21, 2011 8:09am Apr 21, 2011 8:09am
does anyone trade this off the 1min TF with success. Seen a few bits that looked good today, but that's with rose tinted specs on.
  • #16,035
  • Apr 21, 2011 9:34am Apr 21, 2011 9:34am
Quoting captaincol
does anyone trade this off the 1min TF with success. Seen a few bits that looked good today, but that's with rose tinted specs on.
Not recommend smaller time frame unless you want to take small profit like 10~20pips but most of the time you'll loss 10~20pips or even more. Try it for yourselves if you don't believe.

My recommendation, you can enter at 15m but your compass is higher TF such as 1H or higher. Enter trade at small TF that is same direction with higher TF.

Hope you success.
  • #16,036
  • Apr 21, 2011 9:48pm Apr 21, 2011 9:48pm
Quoting GeraldFX
Do you have problem catching reversal point? Not forgetting, ichimoku is a trend follower. It doesnt suit many people. I had my hard time adapting to this concept, which is working well for me now.
Hi GeraldFX
How long have you now been trading with Ichimoku and what TF, you say that you found it difficult to adapt too was it due to the longer TF?
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,037
  • Apr 21, 2011 10:50pm Apr 21, 2011 10:50pm
Quoting Jns
Hi GeraldFX
How long have you now been trading with Ichimoku and what TF, you say that you found it difficult to adapt too was it due to the longer TF?
Hi, i was referring to the concept of trend trading. Before trend trading, i was with strategy where i always try to catch reversal point which cost me a big price in fx market. Since i started with ichimoku, my losses were cut down already. I am trading on H4.
  • #16,038
  • Apr 22, 2011 3:55am Apr 22, 2011 3:55am
Hi Everyone

I have been studying the different strategies and I'm now more confused about what strategy to apply than before. There is the 1-Tenkan Sen/Kijun Sen cross. 2-Kijun cross. 3-Kumo break out. 4-Senkou span cross and the 5-Chikou span cross. The Chikou is confusing me can I do without it or is it as important as what everyone says it is.
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,039
  • Apr 23, 2011 5:08am Apr 23, 2011 5:08am
Quoting Jns
Hi Everyone

I have been studying the different strategies and I'm now more confused about what strategy to apply than before. There is the 1-Tenkan Sen/Kijun Sen cross. 2-Kijun cross. 3-Kumo break out. 4-Senkou span cross and the 5-Chikou span cross. The Chikou is confusing me can I do without it or is it as important as what everyone says it is.
I think chikou its important but i believe that trading ichimoku is not an exact art-meaning its not good to enter blindly when you have a cross or a breakout,before studying what is happening to all time frames (even if you have the green light you may have to wait for a pullback first..),and decide how much you would like to risk according to the general view of the charts.The best trade of the week was gbpusd and we entered after everything was alligned to do so.and we were all out with +200 pips or more.regarding the strategy,i dont like to trade seperatly the signals - if everything looks good its better.hope it helped.if i am mistaken somewhere would like to hear opinions
Never again will fade the trend
  • #16,040
  • Apr 23, 2011 9:11am Apr 23, 2011 9:11am
Quoting Jns
Hi Everyone

I have been studying the different strategies and I'm now more confused about what strategy to apply than before. There is the 1-Tenkan Sen/Kijun Sen cross. 2-Kijun cross. 3-Kumo break out. 4-Senkou span cross and the 5-Chikou span cross. The Chikou is confusing me can I do without it or is it as important as what everyone says it is.
I would agree with Swingfiddle, the multiple time frames are essential. Generally the best signal is for a short;

T/K cross below the cloud in the direction of the trade,
Price action below the cloud,
Future Cloud Bearish
Chinkou below price action

For a long;
T/K cross above the cloud,
Price action above the cloud
Future cloud bullish
Chinkou above price action

On the higher time frames, Daily and Weekly if these are all lined up then the trend is nicely established, but is it safe to enter? I would then be looking for targets, where might price want to go, is the future kumo cloud indicating previous support (normally by a flat bottom or top). After I have found some targets I would be looking to where I can put my stop, Kijun perhhaps or other side of the cloud. Then I work out my risk vs reward is the trade a good bet, the GBP/USD trade Swingfiddle mentioned had targets of 5:1 and then 10:1 although most of us have closed it for now at over 2:1 because of the bank holiday week end (and will look for a new entry after the holiday). I then drop down the time frames all the way to 30 Min looking to see that they all have price below cloud for a short and above for a long. When I have all the above established I would look for my entry, probably of 30Min and this might just be any of the signals you mentioned.

What we are doing is looking to take a trade in the direction of the higher time frame trend after a pull back or consolidation, the entry signal of the lower time frame is confirmation that the trend is starting to continue.

Anyway Jns that is how I trade it, I'm sure the others will help you as well and welcome to Ichimoku. Watch out for Foskin, he took over 700 pips in 3 days last week.
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