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Ichimoku Technical Sessions 2013

  • #401
  • Mar 6, 2013 11:19pm Mar 6, 2013 11:19pm
you live, you learn, you find what works for you. just find your edge
  • #402
  • Mar 7, 2013 5:02am Mar 7, 2013 5:02am
Hi guys..asking permission to join the club..
I've been using ichimoku since may last year, both real and demo in the same time..
in demo, my trading goes really smooth..using daily TF with the basic rules of entry, my demo acc goes to the sky..(around 3000 pip in 4 months)
the same thing happen to my real acc..it reach 500% in 4 months..
the good thing is..I only spend my spare time after working hours to manage my trading activity..

but things goes wrong when I try to manage lower time frame..I made so many mistake..
last week I withdraw all my money and back to demo again..
I hope I can do better and consistent trading this time..

happy profit all...
  • #403
  • Mar 7, 2013 10:25am Mar 7, 2013 10:25am
Hi everyone....

Current situation for me on EUR/USD.
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  • #404
  • Mar 7, 2013 2:20pm Mar 7, 2013 2:20pm
This one looks like its almost over.....
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  • #405
  • Mar 7, 2013 3:23pm Mar 7, 2013 3:23pm
Almo:

Good to see more people participating in this thread. Ccould you explain a bit more on yer entry? For instance, what kept you from an earlier entry? News perhaps? I like seeing charts and knowing the mentality behind them. Thanks.

Sincerely,

LL
"IN CASH WE TRUST"
  • #406
  • Mar 7, 2013 3:50pm Mar 7, 2013 3:50pm
Hi LL,

You are right , I was hesitant due to the news. Everything else on the chart at the time ,despite being bullish, was also somewhat flat just prior to the news, which is always cause for concern where Ichi is concerned.


Unfortunately - the best trades from Ichi start from these flat areas, so we're kinda screwed into having to take a small initial position knowing that its likely going to fail


Here is my next set up
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  • #407
  • Mar 7, 2013 7:48pm Mar 7, 2013 7:48pm
Almo:

Hmmm. So if I am interpreting your charts and and what you are saying correctly, You like to scale in and scale out of several positions? Do you look at multiple time frames as well?

Personally, I enter full positions (experimenting with "add ons" lately though), move to BE early (say 15 pips usually) and scale out often with a defined target in mind. Will close early if finding to much S&P on flattops and flat bottoms. Most times when price closes on the otherside of Tenkansen (typical ichi exit), I feel that too much of the trend is lost due to pullback. Your thoughts? I use multiple TF's when there is a clearer chart than the 30M and will frequently refer to them for references. But then again.... My exits tend to be closest zero level or weekly, monthly pivot... I didn't get much out of the Euro today, got taken out a couple of times on the EUR/NZD. Kept on putting my stop loss in the wrong place... Three times in fact. Total rookie mistake due to lack of sleep. Really funny cause it took off later and would have hit my TP with ease... Listen up folks: don't trade half asleep, don't force a trade, and don't put your stop losses in the middle of the runway! Fortunately, anybody and everybody should have made money today. It was really easy. I mean even making the same mistake three stupid times, I still made out with about 150 pips... Should have been more like 350, but hey, everyone has off days....

Question for everyone: HOW MANY CURRENCIES DOES EVERYONE WATCH?
Myself, I watch like 15, But am going to expand soon. I just don't like cycling through all of them every hour or so...Alerts can help, but I set those up manually.

Sincerely,

LL
"IN CASH WE TRUST"
  • #408
  • Mar 7, 2013 8:24pm Mar 7, 2013 8:24pm
Quoting LazyLobster
Almo:

Question for everyone: HOW MANY CURRENCIES DOES EVERYONE WATCH?
Myself, I watch like 15, But am going to expand soon. I just don't like cycling through all of them every hour or so...Alerts can help, but I set those up manually.

Sincerely,

LL
Hi LL...I watch more than 20 pair..some of them are exotic pair, and I have no problem at all to maintain all of them since I m using 4H TF...I using laptop to look for clear chart and and enter the trade, keep in touch with it using my android phone..
  • #409
  • Mar 7, 2013 8:47pm Mar 7, 2013 8:47pm
Hi LL,

I'll try to answer your questions - just take everything I say with a grain of salt. There are better IKH traders than I, and they do things very differently than I do.





Hmmm. So if I am interpreting your charts and and what you are saying correctly, You like to scale in and scale out of several positions? Do you look at multiple time frames as well?

Yes and no - While its true that its always a good thing to know the overall trend, IMO, its important to know which TF made you take the trade and stay on that one. You *might* want to drop down to a smaller TF to get a better spot, but its been my experience with Ichi if your taking a trade due to a cross that just occurred on a higher TF (say the 1H), the lower TF already made that cross, anywhere up to 1h before that.

Personally, I enter full positions (experimenting with "add ons" lately though),

I try to add in , if chart is going in my direction and my overall position will remain in profit. Unfortunately, I have not read any work on Ichimoku that specifically addresses pyramidding.

move to BE early (say 15 pips usually) and scale out often with a defined target in mind.
I still struggle with this - IKH traditionally has the Kijun line as the SL level, but there are many times your stuck watching a fast move up, return to your entry point using Kijun. Alternatively, moving to BE too early also can lead to a trade getting stopped out, only to watch it continue. Despite the "Any timeframe" claim , IMO, you have to trade the smaller ones as though your in the fight of your life, and take whatever you can get. I think to really get the benefits of using IKH you need to trade 1H or larger. I personally will go as low as the 15m, until I see the larger charts have a setup I like (specifically, thin clouds)


Will close early if finding to much S&P on flattops and flat bottoms.

I generally will not close - the nature of the beast is that you will see the flat tops and bottoms prior to trend continuation. Yes, this means I get stopped out a lot. I have to counter this by making my initial entries small, and adding as price moves in my favor

Most times when price closes on the otherside of Tenkansen (typical ichi exit), I feel that too much of the trend is lost due to pullback. Your thoughts? I use multiple TF's when there is a clearer chart than the 30M and will frequently refer to them for references. But then again.... My exits tend to be closest zero level or weekly, monthly pivot... I didn't get much out of the Euro today, got taken out a couple of times on the EUR/NZD. Kept on putting my stop loss in the wrong place... Three times in fact. Total rookie mistake due to lack of sleep. Really funny cause it took off later and would have hit my TP with ease... Listen up folks: don't trade half asleep, don't force a trade, and don't put your stop losses in the middle of the runway! Fortunately, anybody and everybody should have made money today. It was really easy. I mean even making the same mistake three stupid times, I still made out with about 150 pips... Should have been more like 350, but hey, everyone has off days....




Question for everyone: HOW MANY CURRENCIES DOES EVERYONE WATCH?
Myself, I watch like 15, But am going to expand soon. I just don't like cycling through all of them every hour or so...Alerts can help, but I set those up manually.


I actively trade EUR/USD, but I watch AU, GU as well
  • #410
  • Mar 7, 2013 9:18pm Mar 7, 2013 9:18pm
Hi guys, I have had great fun in the last few days with the ichi, I have posted my latest Entry Order interest for your perusal,

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Your observations are welcome, as always, have a nice weekend
  • #411
  • Mar 7, 2013 9:40pm Mar 7, 2013 9:40pm
Quoting steve d
Hi guys, I have had great fun in the last few days with the ichi, I have posted my latest Entry Order interest for your perusal,

Attachment

Your observations are welcome, as always, have a nice weekend
Everything looks right - seems like you got the hang of it
  • #412
  • Mar 7, 2013 10:40pm Mar 7, 2013 10:40pm
wow lots of good insight. hope you guys are making green pips !
  • #413
  • Mar 7, 2013 11:19pm Mar 7, 2013 11:19pm
Steve:

Overall a good chart setup. When price startes to approach either the tenkansen or the kijunsen, I like to pay particular attention because you have those big moves. You also found the flat area of the kumo I assume? That's where you put your entry...Something else I'd like to mention is that many people don't really know what the chinkou is for.... Some people like to draw trendlines on it and others call it a momentum indicator (I guess...) I like to see it cut through the cloud and price and see nothing to the right of it in a diagonalline. A negative space as you will. This is a great confirmation signal. Not infallable, but a very good confirmation.

Almo:

Heh heh. You say that you get stopped out alot. It's kinda funny as I see you being patient and getting stopped out alot with your BE, and then my aggressive approach with the 15 pip BE also getting stopped out alot. Do you re-enter on a higher price break? I will depending on how far price has gone and how quickly. I like it better when I see a bounce or what is typically referred to as a 123, elliot wave, so on.... I do find myself thinking of the elliot wave heatmap often when I trade. Hoping to see a wave 1 crossing the kumo with a kumo bounce for my entry....

Public Enemy:

20 pair eh? And cell phone trading to boot. Yer really tied at the hip man. Course I say that out of envy as I would if I could. At the moment I session trade when convenient and allowable. I am trying to get two to three sessions daily. I am EST so I trade 3am to 12 (two sessions) and am trying to get in an asian session as well, but the wife doesn't like it much.... what are yer hours like eh?

Sincerely,

LL
"IN CASH WE TRUST"
  • #414
  • Mar 7, 2013 11:51pm Mar 7, 2013 11:51pm
Thanks for your insight,Sir, I have noticed the flat KIJUN...I was "figuring" that if price went up to trigger the entry order the kijun would go up too...!!

That is a bit speculative, of course, maybe I need to rein myself in a bit,

I cannot see where the flat kumo is in regard to this price, is it in future kumo or near to price,??

can you tell me where you are looking please..??

Regards, Steve
  • #415
  • Mar 8, 2013 12:24am Mar 8, 2013 12:24am
Quoting LazyLobster
..

Public Enemy:

20 pair eh? And cell phone trading to boot. Yer really tied at the hip man. Course I say that out of envy as I would if I could. At the moment I session trade when convenient and allowable. I am trying to get two to three sessions daily. I am EST so I trade 3am to 12 (two sessions) and am trying to get in an asian session as well, but the wife doesn't like it much.... what are yer hours like eh?

Sincerely,

LL
20+ plus pair its seem to much, but some of them have similar movement..so I just pick the best one..
I use 4h time frame and I m working more than 10 hours a day..I never push my self to stay long time with my chart..I just use my free time to stay in the game..time is a luxury for me since I have no day off at all..not forget to mention I use one of the most expensive internet connection in the world..which is cost me 1 euro for 10 minutes...

feel free to figure out how hard is my situation...
  • #416
  • Mar 8, 2013 1:53am Mar 8, 2013 1:53am
Greetings all, the same chart acouple of hours later..........Entry Order not triggered...!!!

I should have waited for the chikou span to find some fresh air after being in that cloud I think...
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  • #417
  • Mar 8, 2013 3:10am Mar 8, 2013 3:10am
Yummy...
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  • #418
  • Mar 8, 2013 8:00am Mar 8, 2013 8:00am
Steve

Look at the last chart you posted.... Look at where the chinkou bounced off the Kumo... That is a hard top... the cloud before that was a hard bottom in the same place. These are the areas I was referring to in previous posts . Price has a hard time getting through these areas sometimes and have a tendancy to bounce off. Chinkou follows price just many bars back, and allows you to see these areas a little easier. Personally, I rarely look at future Kumo. Only present and past. Many traders do, but I don't.. Literally don't think future kumo has anything good to offer the present until price approaches. I did see a trade I would have tried twice and the RR barely worked out 1:1, but this would have provided no pips unless I exited for half at some point. I am attatching a chart to describe what I am talking about... Hope you find useful. Something else that might help you that me and Almo were talkin about: The first couple of years spent on forex, most people (myself included) focus on the entry of any system you come accross. Exits usually didn't matter to me, But IMO the most important facet of trading is managing and exiting your trade. Everything that happens after entry. If you enter a loser, what do you do with it? Do you hold on? How long? What if you find that you broke your trading plan rules? What do you do? What happens if you find yourself in a great trade? When do you get out? These points are much more important to me now than entry. The answers should be simple and straightforward and make sense to you.

LL
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"IN CASH WE TRUST"
  • #419
  • Mar 8, 2013 8:11am Mar 8, 2013 8:11am
Quoting LazyLobster
Steve

Look at the last chart you posted.... Look at where the chinkou bounced off the Kumo... That is a hard top... the cloud before that was a hard bottom in the same place. These are the areas I was referring to in previous posts . Price has a hard time getting through these areas sometimes and have a tendancy to bounce off. Chinkou follows price just many bars back, and allows you to see these areas a little easier. Personally, I rarely look at future Kumo. Only present and past. Many traders do, but I don't.. Literally don't think future...
This is a great post LL - and I have to agree with you, I spent way too long concentrating on the entries. Like you said, its the exits that count - that and managing your risk.



Steve,

Every once in a while, your going to get a trade that goes against you - keep at it.
  • #420
  • Edited 8:29am Mar 8, 2013 8:16am | Edited 8:29am
Quoting Pubic Enemy
20+ plus pair its seem to much, but some of them have similar movement..so I just pick the best one..
I use 4h time frame and I m working more than 10 hours a day..I never push my self to stay long time with my chart..I just use my free time to stay in the game..time is a luxury for me since I have no day off at all..not forget to mention I use one of the most expensive internet connection in the world..which is cost me 1 euro for 10 minutes...

feel free to figure out how hard is my situation...
Public Enemy:

That is expensive internet....Perhaps we are all in the wrong business eh? No day off? Ten hours a day?

" You gotta get your self a girl mate." Captain Jack Sparrow (Sorry, couldn't help myself)

Time is a luxury for you. Thought I was busy. As for yer 20 pair and taking the best one. Many people do this... In fact I used to, The idea being if you place bets on multiples of the Japanese markets, you are just risking more on the same deal right? I no longer feel this way. What I found out is that many of the market profiles can look similar, hence we can find similar entries on all the yen pairs, but what we cannot pridict is magnitude... For instance, a big earthquake or tsunami might case the yen to crash, but it will be different on every chart. the USA/JPY might go down 100 pips while the EUR/JPY might go down 200 pips. While the NZD/JPY won't go anywhere at all.. Anyways, when I see the yen moving good on one pair, I check them all to see if I like the setup on each individual chart, and yes, I will enter all of them at the same time. Sometimes I'll get a large amount of pips on one and a small amount on another, and of course when I lose, I do lose those can be compounded as well. But I treat each one as their own deal and thus R&R and money managment is well thought out for me... Your thoughts? Differences?

Sincerely,

LL
"IN CASH WE TRUST"
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