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Ichimoku King System

  • #181
  • Aug 10, 2013 8:04am Aug 10, 2013 8:04am
Quoting Red Herring
Lets post some ichimoku guys... Buy signal is no but my feeling is market will change soon... {image}
Hi Redherring,

I just new to the Ichimoku but I studied your chart on H4 seems that you about too late to entry Long position.

I check with the H1 chart and I got as attached chart comparing to your chart.

Have you try on H1 chart?.



Regards,
Keng.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 51 KB
Click to Enlarge Name: Screenshot3.png Size: 50 KB
Smile, Breath, and Go slowly
  • #182
  • Aug 10, 2013 8:10am Aug 10, 2013 8:10am
Quoting Misu22
I started using this strategy for a few days and i enterd the first trade according to it's conditions. I shorted the EUR/JPY as you can see in the image and all my T/P were hit. I am going to keep using it and post the wins and the losses (because i accept the fact that there will be losing trades-the question is will there be more wins than losses?). I follow three pairs: EUR/USD, EUR/GBP and EUR/JPY. {image}

Thanks Misu22,

I check your chart and after that the Price go down like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 48 KB
Smile, Breath, and Go slowly
  • #183
  • Aug 10, 2013 8:20am Aug 10, 2013 8:20am
Quoting Misu22
There is a potential long entry on EUR/AUD. {image}
Hi Misu22,

But this one fail.

Or do we need the Chinkou span above the price and above the Cloud as well??

Regards,
Keng
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
Smile, Breath, and Go slowly
  • #184
  • Aug 10, 2013 8:24am Aug 10, 2013 8:24am
Quoting ichimokuking
Hello Traders, Good Day i have been trading a great Ichimoku system for the past 2 years and the system has 80-85% winning rate. The Beauty of the system is its simplicity .......................

.......

Step 1:

A wave or Chinkou Span Should be Below Price action, If yes move to next step.

Hi Ichimokuking,

I check this chart and got question that.
Do we need the Price above the cloud as well for the Step 1 for go Long?

Regards,
Keng.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
Smile, Breath, and Go slowly
  • #185
  • Aug 10, 2013 11:16am Aug 10, 2013 11:16am
Quoting KengLeobard
{quote} Hi Misu22, But this one fail. Or do we need the Chinkou span above the price and above the Cloud as well?? Regards, Keng {image}
Hi Keng. Unfortunately, the price didn't go up this time, although the conditions were met. From what i understand, the chinkou span only has to be above price and not necessarily above the cloud. But it's an interesting idea and it could bring more accuracy in entering trades. Also, in future trades, i am going to wait for a couple more candles for confirmation, after the price breaks the cloud.
  • #186
  • Aug 10, 2013 9:06pm Aug 10, 2013 9:06pm
Quoting Misu22
{quote} Hi Keng. Unfortunately, the price didn't go up this time, although the conditions were met. From what i understand, the chinkou span only has to be above price and not necessarily above the cloud. But it's an interesting idea and it could bring more accuracy in entering trades. Also, in future trades, i am going to wait for a couple more candles for confirmation, after the price breaks the cloud.

Thank you Misu22, I follow you.

Regards,
Keng.
Smile, Breath, and Go slowly
  • #187
  • Aug 12, 2013 3:11am Aug 12, 2013 3:11am
There is a potential long entry on USD/JPY. The kumo cloud doesn't look very good, it's flat at moments. But the GDP q/q for Japan has been less than expected so the pair may go up. If the next 1-2 candles are bullish i will enter long.
Attached Image (click to enlarge)
Click to Enlarge Name: 001 long usdjpy.png Size: 61 KB
  • #188
  • Aug 12, 2013 3:48am Aug 12, 2013 3:48am
Quoting Misu22
There is a potential long entry on USD/JPY. The kumo cloud doesn't look very good, it's flat at moments. But the GDP q/q for Japan has been less than expected so the pair may go up. If the next 1-2 candles are bullish i will enter long. {image}
50pip may go up. 4 hour is not consistent with I hour char.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.png Size: 77 KB
  • #189
  • Aug 12, 2013 3:52am Aug 12, 2013 3:52am
Quoting Misu22
There is a potential long entry on USD/JPY. The kumo cloud doesn't look very good, it's flat at moments. But the GDP q/q for Japan has been less than expected so the pair may go up. If the next 1-2 candles are bullish i will enter long. {image}
can we discuss ichimoku indicator more in detail can we share our ideas may benefit both.
  • #190
  • Aug 12, 2013 5:58am Aug 12, 2013 5:58am
Quoting sirji
{quote} can we discuss ichimoku indicator more in detail can we share our ideas may benefit both.
Yes, we can discuss it here on the forum. I think this ichimoku strategy can still be improved.
  • #191
  • Aug 12, 2013 5:59am Aug 12, 2013 5:59am
Quoting Misu22
{quote} Yes, we can discuss it here on the forum. I think this ichimoku strategy can still be improved.
you are right.
  • #192
  • Aug 13, 2013 11:26am Aug 13, 2013 11:26am
ichimoku king System excellent presentation I am new to site I find this system on manual backtest is highly successful
I find the lagging indicator 26 periods back ( CHIKOU SPAN ) VERY IMPORTANT
I am using it as an exit from the trade, eg when chikou passes through price i sell .......
  • #193
  • Aug 13, 2013 1:13pm Aug 13, 2013 1:13pm
I did a back-test for cable and over the last year it looks really good. I then tried this on EU and it was terrible. Negative performance and all over the place. if i take the first target price down to 10 pips and the price at which trade 2 and 3 move to BE to 10 pips you get a good positive performance. I will look at changes to the system and report anything else I find.
  • #194
  • Aug 13, 2013 2:56pm Aug 13, 2013 2:56pm
Quoting captaincol
I did a back-test for cable and over the last year it looks really good. I then tried this on EU and it was terrible. Negative performance and all over the place. if i take the first target price down to 10 pips and the price at which trade 2 and 3 move to BE to 10 pips you get a good positive performance. I will look at changes to the system and report anything else I find.
I also had a couple bad trades using this strategy on eurusd. It has moments when it is very volatile.
  • #195
  • Aug 14, 2013 12:54am Aug 14, 2013 12:54am
Quoting Misu22
There is a potential long entry on USD/JPY. The kumo cloud doesn't look very good, it's flat at moments. But the GDP q/q for Japan has been less than expected so the pair may go up. If the next 1-2 candles are bullish i will enter long. {image}
It has been a good set up with a very good profit (around 150 pips) Lets see if price break 68.5 % retracement and continue to next fibo level. I would be managing stoploss around 50% fibo....
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Aug. 14 00.48.jpg Size: 125 KB
"Even A Thousand Mile Journey Begins with the First Step"
  • #196
  • Aug 14, 2013 1:05am Aug 14, 2013 1:05am
Look this other for a potencial buying.
Watch if it break following fibo retracements.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Aug. 14 01.02.jpg Size: 104 KB
"Even A Thousand Mile Journey Begins with the First Step"
  • #197
  • Aug 14, 2013 3:28am Aug 14, 2013 3:28am
Quoting analizer
{quote} It has been a good set up with a very good profit (around 150 pips) Lets see if price break 68.5 % retracement and continue to next fibo level. I would be managing stoploss around 50% fibo.... {image}
I see you mentioned using the fibo lines for stop loss. From your experience is it better than using the 50 pips stop loss, or the change in signals?
  • #198
  • Aug 14, 2013 5:53am Aug 14, 2013 5:53am
I have looked at some of my backtest data and played around with some of the SL figures, and the key part to this system being profitable is the move to BE for the second two positions. i think the fibs could be a great addition for these second two trades, but you need to get some cash in the bank on trade 1 and get the other two trades to BE.
Quoting Misu22
{quote} I see you mentioned using the fibo lines for stop loss. From your experience is it better than using the 50 pips stop loss, or the change in signals?
  • #199
  • Aug 14, 2013 6:13am Aug 14, 2013 6:13am
Quoting Misu22
{quote} I see you mentioned using the fibo lines for stop loss. From your experience is it better than using the 50 pips stop loss, or the change in signals?
usdjyp is at divergence. strong sell postion for retracement
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym30.png Size: 82 KB
  • #200
  • Aug 14, 2013 6:56am Aug 14, 2013 6:56am
anybody out there can recommend on how to not enter a trade on a fake break of the kumo cloud. I think this is an important issue.
at the momment i am entering 2 trades one with a 20 pip profit target the other break even when first profit target is hit if the chikou line moves through price
( 26 periods behind current ) whichever happens sooner i am out of my second trade
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