Trading with range bars ichimoku cloud & awesome oscillator

here

im going to futures had some bad luck/stupid mistakes but now sorted it out i was just worried about the volumes because i read somewhere that futures did not had the volumes and orders will not be filled but i know dont believe everything you read on the net

If you stick with major commodities, currency and US treas. shouldn't be a problem. But definitely don't trade off hours only during market opens or just b4.

RP what is the most important factor you watch out when you are before chart ? ( the fist priority )

what was the price action over the past 4 hours, if it looks like an ekg I toss it, if it shows a trend I keep it, if it shows sideways movement with a big enough range i keep it.

Heres another currency strength indicator thats a little more flexible. Go to Completecurrencytrader.com/tools/currency-strength-indicator

First trade scored 41 pips

Second trade, Rocky please give me your feedback. Thanks

today's trades:

winner (+41):


winner (+26):


winner (+29):


winner (+23):


I also had 2 loosers (smaller), but overall +100

3 trades today finally up at my normal time.

Nice eddman you made some nice trades on jpy which was very weak today, I missed those a little early for me. But i was able to catch the weakness in nzd.

I'm done for the day too much fun yesterday.

thanks rocky! yes indeed, JPY was weak in my session and easily exploited with this method, so again thanks for sharing it!

I think I am probably mastering this method to 25% the extent that you are. Every bit of info you share is helpful and pushing me forward to the next level. One of the hardest parts is to not over trade, to refrain from trading "ugly" charts even though there's a have a clear signal according to the system. What's been most helpful with that part is using Ninjtatrader's market replay functionality, because it's helped me to understand that there's actually an abundance of opportunities (during most days), so I can afford myself to be a bit picky.

I am pretty comfortable with trading horizontal lines at this point, but not so much inclined TLs, which you used in your last AUDNZD trade. I understand the concept of using divergence of the price TL and Awesome trendline...but have gotten few too many false positives when I've tried this. So I'll go back and do market replay and try to grasp the concept practically too...I do like the idea of getting in earlier in a breakout!

Hey Edd,

My rule when trading divergences is when the dvrg. is with the trend go for it like a regular trade, when against the trend you can take the trade but be prepared to get out fast and minimize losses.

an important technical/mental qs: during the trade... how do you keep ur self calm ?
to not take any junk situation? (same goes for pulling out on time)

Good morning did not see anything I liked this morning so no trading today. Charts just not looking that great.

good afternoon, yes you were wise to stay out. Here are my trades:

breakeven (+2, manual close):


small winner (+9, stopped out):


small winner (+5, stopped out):


looser (-18, stopped out):


looser (-22, stopped out):



So after many days in the +100 pips area, here comes a loosing day. What can we learn?

When I look at these trades I conclude that Rocky would probably have gotten out with higher profits on the winners, whereas I had fixed TP levels which weren't reached, instead I got stopped out when I moved my TPs below a swing point in profit.

For the loosers I can conclude that Rocky would not have allowed them to continue as far as I did.

So to sum up, if the system was used accordingly Rocky's method for managing trades already entered, it would probably have been a smaller plus day. I don't feel that I necessarily took bad trades, at least not for the winners. My error probably lies in the management of the trades once entered.

Like I've mentioned before, I have problems judging which charts are "ugly". When starting the day, I did feel a bit lost looking at the charts (I also use the strength meter to find weak or strong currencies before I start)...so with that feeling, I thought I could still succeed... perhaps better being more careful with trade management on days when charts looks like this...or even better, have the strength to just stay out of the market entirely.

Any feedback is welcome!

eddman,
while some part could come as hindsight ( and isn't so easy to judge any trade that way!!) I would wonder at entry that the price broke down to a lower low, bellow your trendline, but the AO not get nearly to the low; in fact was ready to form a divergence. One might argue that bye at least not being at a low on the chart vs. its prior low, it already showed divergence when you opened the position.

but this is just in the category of "any feedback".

Hey GW,

I am be nature calm and analytical, but one thing I don't do while trading is constantly keep checking my charts. Once I'm in trades I'll check every few minutes.
I also read, sometimes play poker, listen to music. Avoiding over trading comes with experience and its over trading that gives rise to taking "junk situations".
My mind set as far as getting out of trades is don't let a profitable trade(for me thats 15 pips) become a losing trade.

Hola Eddman, Think maybe you were just a little impatient about entering trades and too patient staying in the trade. It is very common especially in day trading to feel, I'm in front of my computer so I have to trade. That was one of my biggest break thrus in trading, being able to tell myself to walk away nothing looks good., once I learned that my risk reward doubled and my win rate increased and I became consistently profitable.