Gentlemen always play by the rules. If they can't, they change the rules.
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- #2,702
- Edited 4:10am Apr 19, 2013 3:59am | Edited 4:10am
Hi favorite , Im looking at 5min chart of ichimoku cloud with same settings, Its working great. Its avoiding all the chop from M1 and giving almost same entry as babon M1. Entry is normal , when price breaks cloud , Reentry when price come back and touches the cloud . No entry if the Candle that crosses the cloud is more than 30pips. Let me know what you think . Thanks {image} {image}
you may try to put an ichi m5 on the m1 chart
i have ichi m1+ ichi m5 on the same chart
- if the price is above the 2 ichi...i`m even more confident
- if the price is between ...i take only small trades
in the ex...+20p, exit above (!!) tma15 on the YH
Look like a girl, act like a lady, think like a man and work like a dog.
Winner1245, you're absolutely right! I trade only M1, but if any of you guys can adjust Babon for M5 - go for it, it's gonna be worth your while! By "adjusting" I mean three things: 1). M5 requires bigger SL than M1 2). I wouldn't recommend to use a cloud breakout as a trigger, you'll get a lot of the false signals. You need another trigger, I think Babon Slope will do just fine. 3). The current Babon Slope's settings are ideal for M1, but I'm not sure that they are the best for M5, if you use Babon Slope for M5, you have to test different settings....
- #2,704
- Apr 19, 2013 4:17am Apr 19, 2013 4:17am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
+20p, exit above (!!) tma15 on the YH
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,705
- Apr 19, 2013 4:18am Apr 19, 2013 4:18am
- Joined Oct 2010 | Status: Trader | 2,820 Posts | Online Now
- #2,706
- Apr 19, 2013 4:19am Apr 19, 2013 4:19am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Thanx. I will try to modify the entry and see if present babon settings nedd some changes or not etc. Im looking into NonlagMA . They are pretty much same but nonlagma is better . SL is 20pips . Usually i exit whenevr price comes back and touches the cloud. Closer the entry to cloud samller and better the SL.
Gentlemen always play by the rules. If they can't, they change the rules.
Hy you may try to put an ichi m5 on the m1 chart
I dont see an option for Changing timeframe.
- #2,708
- Apr 19, 2013 4:21am Apr 19, 2013 4:21am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,710
- Apr 19, 2013 4:24am Apr 19, 2013 4:24am
Thanks for the reply. But how to keep the M5 ichi on a M1 chart. Its the same indicator isnt it? "Ichimoku kinko hyo". I dont see an option for Changing timeframe.
Look like a girl, act like a lady, think like a man and work like a dog.
- #2,711
- Apr 19, 2013 4:29am Apr 19, 2013 4:29am
Thanks for the reply. But how to keep the M5 ichi on a M1 chart. Its the same indicator isnt it? "Ichimoku kinko hyo". I dont see an option for Changing timeframe.
No, no that's great! M5 and M15 are very popular timeframes, a lot of people would be interested in M5 and M15 modifications!
It`s scalping strategy.
You have everything to trade.
Don`t invent the bicycle.
5 and 15 minutes tmeframes are best to trade patterns like flag and head and shoulders.
And don`t forget for MM. Stop loss in 15 timeframe is more than 30-40 pips.
What TP do you want, it must be no less than 60-80 pips.
P.S. You can use only 5 and 15 timeframes for your own sure in position. But at first you must open position by Mike`s rules.
- #2,715
- Apr 19, 2013 5:24am Apr 19, 2013 5:24am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,717
- Apr 19, 2013 5:36am Apr 19, 2013 5:36am
thanks for the clarification Favorite.
killerno, welcome aboard and thank you for your kind words! As I stated in my summary, for the naked pattern trading we need only 3 things: good M1 Price Action, right "big picture" and a good TMA M1 angle. So if you see a good Price Action setup you can enter as long as the TMA M1 angle is good!
- #2,719
- Apr 19, 2013 6:02am Apr 19, 2013 6:02am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
maybe a little sell now?
Gentlemen always play by the rules. If they can't, they change the rules.
- #2,720
- Apr 19, 2013 6:04am Apr 19, 2013 6:04am
- | Membership Revoked | Joined May 2011 | 2,976 Posts
thanks for the clarification Favorite.
Gentlemen always play by the rules. If they can't, they change the rules.