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  • #441
  • Nov 22, 2011 2:18am Nov 22, 2011 2:18am
gold breakout ?
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  • #442
  • Nov 22, 2011 8:59am Nov 22, 2011 8:59am
some input from my end, those trading 15 pip range bar get the best from 8 24 48 settings but the downside is you get less trades

if you are someone who want more trades for 10 -15 pips instead of big ones like 50 -100 pips then you can use these techniques

simply load the cloud in a 15 m chart or 5 m chart and put this setting 2 6 and 12 and you will get more signal which are reliable as well , you shall also catch the big moves .

since range bars remove the spikes and give better picture of the market you can also try dynamic range indicator on the range bars with 100 settings instead of default 40 setting you will get less signal but you will catch the top and bottom of the market.
  • #443
  • Nov 22, 2011 1:42pm Nov 22, 2011 1:42pm
Could you please post indicator?

Quoting unimak
some input from my end, those trading 15 pip range bar get the best from 8 24 48 settings but the downside is you get less trades

if you are someone who want more trades for 10 -15 pips instead of big ones like 50 -100 pips then you can use these techniques

simply load the cloud in a 15 m chart or 5 m chart and put this setting 2 6 and 12 and you will get more signal which are reliable as well , you shall also catch the big moves .

since range bars remove the spikes and give better picture of the market you can also try dynamic range indicator...
  • #444
  • Nov 22, 2011 1:59pm Nov 22, 2011 1:59pm
do you have different settings of classical ichimoku in this thread ? and do you all consider it as a main indicator for making orders ? do not you support it with some other indicators or tools or trendlines or some other stuff ?

Honestly i use it as a filter but never tried using it as a primary indicator...and i wonder if it is profitable !
Imagination rules the world ...
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  • #445
  • Nov 22, 2011 2:18pm Nov 22, 2011 2:18pm
Quoting hipofiz
Could you please post indicator?

hipofiz , ichimoku is one of the default indicators im metatrader...so u do not need to download anything...but its default settings are 9 , 26 (Japanese people work 26 days in a month) , 52 (the number of the weeks in a year) ...but in this thread as i see people use different settings...and i dont agree that those settings shud be changed from original to some other thing.But in the first page the thread starter tells that its profitable...so no need for me to criticize anything )

bu arada sen turk musn ?
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #446
  • Nov 22, 2011 8:41pm Nov 22, 2011 8:41pm
as regards dynamic range indicator you can get it by googling and the setting that i use is 100 that gives less signal but more reliable .

now coming to eusd the range bar setting ideal one should be 5 pip as i hv checked around 70000 minutes of data for eusd and found that the avg movement is around 3.8 pips per min so ideal should be 5, if you see the nova video for range bar you will get it , and i am using 4 12 and 24 along with 5 pip range bar , getting good results


try it out
  • #447
  • Nov 22, 2011 8:58pm Nov 22, 2011 8:58pm
Quoting selym_co
hipofiz , ichimoku is one of the default indicators im metatrader...so u do not need to download anything...but its default settings are 9 , 26 (Japanese people work 26 days in a month) , 52 (the number of the weeks in a year) ...but in this thread as i see people use different settings...and i dont agree that those settings shud be changed from original to some other thing.But in the first page the thread starter tells that its profitable...so no need for me to criticize anything )

bu arada sen turk musn ?
Your opinion is respected bro-- the default setting is good for time bars maybe 1hr or 4hr time frame -- I am using rangebars thats is why I made the changes

Also unimak said this good trades on 15min chart with 2 6 12 settings -try it and now he likes the result on 5pip range with 4 12 24 settings

In the end all will work-- meaning profitable - you will not win all but most of them -- and every month you will be profitable--

Guy dont be lazy - experiment like unimak- and see what is good for you -- some settting will give more trades some will give less trade - so choose your style and stick with it for month on demo -- see your weak trades and learn from the mistakes--
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #448
  • Nov 22, 2011 9:18pm Nov 22, 2011 9:18pm
Quoting unimak
as regards dynamic range indicator you can get it by googling and the setting that i use is 100 that gives less signal but more reliable .

now coming to eusd the range bar setting ideal one should be 5 pip as i hv checked around 70000 minutes of data for eusd and found that the avg movement is around 3.8 pips per min so ideal should be 5, if you see the nova video for range bar you will get it , and i am using 4 12 and 24 along with 5 pip range bar , getting good results


try it out
I said this before -- somewhere in this thread-- but how often and how much time do you have to trade-- I dont like to leave my trade unattended
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #449
  • Nov 23, 2011 2:30am Nov 23, 2011 2:30am
sorry zamanib...i didnt offend you...and honestly i am not experienced enough to criticize ichimoku and its users...i used it once for a while almost two years ago...made some profits then lost all of those profits ) and i just threw it to the junks yes it gives wnderful results in daily and weekly chart but if are an intra trader as u said maybe the settings shud be optimized...but still there are things missing in the data which u get from the indicator :

1-yes u get a clear entry price
2-the indicator gives you a clear STOP LOSS level
3-But the indicator does not give any idea about the target...and at this point u need to apply different tools...or you shud use fix Take Profit levels...

As a result..ichimoku is a good filter , but not a good primary indicator (in my opinion) and i shud also admit that it is an art to use it so u shud be an artist in order to make use of it..

thanks for ur quick answer...(i will repeat again that i didnt want to be unrespectful)
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #450
  • Nov 23, 2011 2:51am Nov 23, 2011 2:51am
Quoting selym_co
sorry zamanib...i didnt offend you...and honestly i am not experienced enough to criticize ichimoku and its users...i used it once for a while almost two years ago...made some profits then lost all of those profits ) and i just threw it to the junks yes it gives wnderful results in daily and weekly chart but if are an intra trader as u said maybe the settings shud be optimized...but still there are things missing in the data which u get from the indicator :

1-yes u get a clear entry price
2-the indicator gives you a clear STOP LOSS level
3-But...
I hear you bud-- no problem -- target is problem with many system--
please give some idea on other tools--
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #451
  • Nov 23, 2011 3:01am Nov 23, 2011 3:01am
there are some tools which i use for target prices...and i am sure there are lots of wise people who discovered other ways of target indicating methods...but wat i use are :

1-andrews piychfork
2- equidistant channels ... and if the channel is broken then i just add another same-width channel on the break direction...you know according to the theory of isac newton for every action there is a reaction...so if a channel is broken then the momentum of the price will be strong enough to travel the same width of the channel in the opposite direction...(its a kind of pitchfork which i draw manually...but by not choosing 3 pivots like the original pitchforks)
3-fibonaci tool when applied with the elliot wave theory gives good target price...for ex most of the retracements in elliot wave trading are 0,382-0,618-0,50 (its not a fibonacci number ) and sometimes 0,76 ..so if u identify the last completed wave and measure it fibo tool and enter at retracement level...and even if u support it with the confiirmation pf price action and ichimoku (i use it like this) then u can get wonderful results TARGETİNG THE 1,382 OR 1,618 LEVEL OF THE FİBO TOOL....

these are the tools which i use for my targets and honestly they are good...and as i told above ichimoku is really a good filter while doing all of those..
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #452
  • Nov 23, 2011 6:12am Nov 23, 2011 6:12am
Instead of using a graphical target, why don't you guys use a 2:1 or maybe a 3:1 ratio - for example 20 pips loss 40 pips target. Another thing you can do is move your stop to break-even when the market reach some pips. If you're looking for 40 pips, once the market gets to 20 pips on your side, move the stop to B/E and you'll have a free ride.

Just a suggestion.
  • #453
  • Nov 23, 2011 6:53am Nov 23, 2011 6:53am
Quoting wp3vv
Instead of using a graphical target, why don't you guys use a 2:1 or maybe a 3:1 ratio - for example 20 pips loss 40 pips target. Another thing you can do is move your stop to break-even when the market reach some pips. If you're looking for 40 pips, once the market gets to 20 pips on your side, move the stop to B/E and you'll have a free ride.

Just a suggestion.
yes u are also right about that....why shud i let the price grab some pips from my hands ? i shud earn as much as possible...and thats why i am in the market...so i shud be like a sniper when i am entering the position and exiting ..and we all know that fibonacci ratios are really effective about the sizes of the waves between each other...so why shudnt we use the advantage of it ? I have been trading that way for a long time and i can say that i am successfull...but ofcourse 2:1 or 3:1 is logical too...the man who taught me this business uses that method...and he is very successfull too..so it is important to know ur own system and to know how to use ur indicator + tools combination...and u can make many pips as long as you combine the technical stuff with patience...

This thread has a big potential i think...because ichimoku is really good about indicating the possible support and resistance levels...so it can be an invincable method if it is supported by sharp tools like fibonacci or channel strategies...its just my idea...you know ichimoku was first designed by the japanese and it is really effective on big timefames like daily and weekly...but as far as i read and know it is not that effective in smaller timeframes...and it is an art to read wat it says !
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #454
  • Nov 23, 2011 7:18am Nov 23, 2011 7:18am
Quoting selym_co
yes u are also right about that....why shud i let the price grab some pips from my hands ? i shud earn as much as possible...and thats why i am in the market...so i shud be like a sniper when i am entering the position and exiting ..and we all know that fibonacci ratios are really effective about the sizes of the waves between each other...so why shudnt we use the advantage of it ? I have been trading that way for a long time and i can say that i am successfull...but ofcourse 2:1 or 3:1 is logical too...the man who taught me this business uses that...
Yeah! That's what I do. I trade a 20/50 moving average system and I realized that I won't get a chance to get a 100 pips move all the time. It's better to eat a piece of the pie constantly that get nothing. I like this method, by the way. I think it has a lot of potential. I will try this one out for sure to see what happens.
  • #455
  • Nov 23, 2011 7:42am Nov 23, 2011 7:42am
Quoting selym_co
sorry zamanib...i didnt offend you...and honestly i am not experienced enough to criticize ichimoku and its users...i used it once for a while almost two years ago...made some profits then lost all of those profits ) and i just threw it to the junks yes it gives wnderful results in daily and weekly chart but if are an intra trader as u said maybe the settings shud be optimized...but still there are things missing in the data which u get from the indicator :

1-yes u get a clear entry price
2-the indicator gives you a clear STOP LOSS level
3-But...
I am not sure how you manage to lost all your profit-- were you consistantly follow your rules -- or because of some losing trade you deviate -- because I cannot see you can loose with this system -- on monthly basis-- you will not win all the trades but will win most -- just me consistent with you rules -- set tp and sl win or lose
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #456
  • Nov 23, 2011 7:55am Nov 23, 2011 7:55am
Quoting zamanib
I am not sure how you manage to lost all your profit-- were you consistantly follow your rules -- or because of some losing trade you deviate -- because I cannot see you can loose with this system -- on monthly basis-- you will not win all the trades but will win most -- just me consistent with you rules -- set tp and sl win or lose
it was a demo account and i had just heard of the epic stories about the ichimoku...read lots of stuff about it on internet and it soon became a legend in my mind..then i just started trying it on the demo account...and i used H4 charts and didnt use any other thing in order to improve myself about reading ichimoku...everything was fine at first...then i failed and failed ) thats the story...i mean i was not successful with ichimoku and its really nice that somebody didnt give up like amd and makes use of the indicator...thats why this thread is interesting..
Nowadays i use ichimoku as a filter...but still not very relieble...(for me)...My basic and leading method is fibo + equidistant channels an i am always weak about the discipline... )

As a conclusion do not get my messages as "offensive" ...i just want to tell that ichimoku has a big potential (i believe so) but i was not successful to bring out that potential into action..and you are experienced about ichimoku and i suggest that it shud be improved by some engineering stuff like price action or trendlines or channels or pitchforks or some other thing....then it can be amazing !
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #457
  • Nov 23, 2011 8:00am Nov 23, 2011 8:00am
Quoting zamanib
I am not sure how you manage to lost all your profit-- were you consistantly follow your rules -- or because of some losing trade you deviate -- because I cannot see you can loose with this system -- on monthly basis-- you will not win all the trades but will win most -- just me consistent with you rules -- set tp and sl win or lose
Systems etc. are just for your visual comfort. The market will do whatever and won't care a bit about your system. I learned that it's how to manage the trade what's relevant. You win and lose and whatever it's on the middle it's yours. The trick is to make sure your targets are larger than your risk. When I started, I my goal was 20 pips daily, something like that. Now it all depends where my stop loss is located. I am on a 2:1 risk/loss ratio. Sometimes I go for more, all depends. No mater what system you trade, you MUST have this rules clearly defined. Otherwise, you'll be just fooling around.
  • #458
  • Nov 23, 2011 8:26am Nov 23, 2011 8:26am
well...you think systems are for the comfort of our eyes ? yes it is just one of the results...and the other result is they give you amazing profits if applied carefully with discipline and patience!

well...i am a muslim...and one of the basic elemnts of my religion is that nothing is by coincidence in this universe and there is harmony in every kind of creation.And every creation shud be possible to be expressed or decoded with the help of some mathematical harmony..the more knowledge we have , the more we can read from the universe...

and forex is driven by many factors...and it is accepted by almost everyone that it is mostly the result of the human psychology and it is a "creation" too ...it can be also expressed in mathematical terms or knowledge...and the systems on forex are the ways of seeing that secret mathematical harmony...this is my idea...

Elliot did this in the beginnings of 1900s and he summarized the market structure with 5 + 3 waves formation and it is widely accepted even by the authorities...and there are other geometric traders in the market too who use circle trendlines , triangles and gartley patterns and etc....you see ? the market even can be expressed by geometry too !!!

so systems are good as long as they are able to read the secret harmony in the market which truely exists !!! and they also make ur eyes comfortable too
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #459
  • Nov 23, 2011 12:14pm Nov 23, 2011 12:14pm
nice catch
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #460
  • Nov 23, 2011 12:20pm Nov 23, 2011 12:20pm
my baby -- who dont like it -- tuff luck
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
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