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resurrector
Registered: Jul 2004
Posts: 176 |
01-06-12 03:54 PM
EURUSD Ichimoku Trading Strategy
It had been quite some time since I last posted. After my last business trip in China, went to Taipei for my new year holiday. At the same time, will begin my career with another organization, which will have frequent overseas traveling.
Having said that, continuing on one of my posts earlier, I have added another position to my EURUSD. The previous positions remain. The new add on position was established when the price traded near the bottom of the ichimoku kumo cloud.
Will continue to hold on and shift lower the stop loss level.
 eurusd ichimoku trading strategy forex singapore fx trader position trade continued.png
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resurrector
Registered: Jul 2004
Posts: 176 |
01-10-12 08:13 AM
EURUSD 09 January 2012 Ichimoku Trading Strategy
It was not a good start to the first intra-day trade for the year 2012.
Price had been moving upwards since the beginning of the day. When the US timing approached, price started to reverse.
Initiated a stop in order shortly after the opening of the US timing (0800h), all important lines were in their position. Tenkan-sen was below kijun-sen, both below the kumo cloud. Chikou Span had also traded below the kumo cloud. The trade was triggered shortly.
Price decided to make a reversal shortly after. Was stopped out above the kumo cloud. Not a good start for the year...
eurusd ichimoku trading strategy forex singapore fx trader 09jan2012-1-1 remark.png
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resurrector
Registered: Jul 2004
Posts: 176 |
01-11-12 05:51 AM
EURUSD 10 January 2012 Ichimoku Trading Strategy
Price was already trading above the kumo cloud during US timing. Waited for some time to have a set up.
When the price went into the kumo cloud around 0830h (US timing), awaited for the set up.
1. Tenkan-sen cut above the jikun-sen while inside the kumo cloud, and the price was trading above the tenkan-sen. Morever, chikou span touched the jikun-sen and rebounded. Placed a stop in order which was triggered after.
2. Price reversed shortly after, penetrating through the thin kumo cloud.
It was unfortunate that the 2nd trade was also a lost.
eurusd ichimoku trading strategy forex singapore fx trader 10jan2012-1-1 remark.png
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shopster
Registered: Jul 2011
Posts: 1479 |
01-12-12 06:49 PM
Tenkan-sen cut above the jikun-sen while inside the kumo cloud, and the price was trading above the tenkan-sen.
Morever, chikou span touched the jikun-sen and rebounded......
lets recap what you are doing.
..........................................................................
The trade ended with a lost.
I started the trade with a long, but was stopped out.
It was followed by a short, but was again stopped out.
This doesn't look at all, good.
It had not been a good day.
The day did not start well.
A day with loss.
A day with losses.
It was again another day of tsunami...
The joy was short-lived though.
Ended the day with little profit.
Not a very good start for the week.
Price cut through Kumo cloud .
Stopped out
Price began to trade lower.
Set a target profit to close 50% of the position. It was hit
Set another target profit to close 50% of remaining position (25%).
It was hit
The remaining was stop loss, it was stopped out
Another day where not much had been made.
Hanging on...
Will have to see how it will turn out.
No idea what has happened as of now. Stopped out.
Not a good trading day...
Unfortunately not.
Place stop-loss level above the kijun-sen. It was hit.
Exit the trade with little profit.
It was not a good start to the first intra-day trade for the year 2012
Placed a stop in order which was triggered after.
It was unfortunate that the 2nd trade was also a lost.
..................................................
self flagellation.
the market does not care about the cloud and this is why 98% never make it in the game.
math guys in control.
s
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GeraldFX
Registered: Jan 2012
Posts: 5 |
01-13-12 09:07 AM
Hi resurrector, good day. I was pointed to this thread by a friend and he asked me to give advise. I hope my advise can do you good. I have been trading with Ichimoku for more than a year and had been trading ichimoku with many other ichimoku traders around the world.
First of all, I would suggest you stick to a base time frame as your entry. Do not jump up and down between different time frames because it may seem bearish on H1 but bullish on H4 and bearish on Daily, you will not know how to trade. Thus, your base time frame should be a time frame that suits your trading life style.
Secondly, to trade a high probability trading, you need to trade in the direction of the higher time frame. If H1 is your base time frame, then use daily as your higher tf. If daily is your base time frame, then use weekly as your higher tf. By trading the direction of the higher time frame, then you will increase your probability of success. On the higher tf, price needs to breakout of the kumo; above kumo for bullish trade setup only or below kumo for bearish trade setup only.
In regards to shopster, you started to chase after market when you met a few losses. Beaware of this mistake and try avoid them next time. When you are unclear, it is adviseable to stay out.
It is true that the market doesn't care about the cloud. But as an ichimoku trader, the cloud is an important element of the ichimoku trading system. That is why as an ichimoku trader, we never pick tops nor bottoms. Our profits are always in between, what I called it - the body. The reason behind this is because I want to cut loss when I am wrong & maximize profits when I am right.
A good example was my recent trade for EURNZD on the H4. I was trailing the EURNZD since 17th Dec 2011 till yesterday, I then got stopped out at the kijun sen.
I hope these replies can do assist you and if not, do not hesitate to ask me any questions. I am more than willing to answer them.
Last but not least, congrats on being a consistent learner. For most people, they would have skipped ichimoku. However, you stayed on for quite sometime. Although 98% did not make it in this game, however, you have the option to be the 2% too.
Good luck!
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GeraldFX
Registered: Jan 2012
Posts: 5 |
01-13-12 10:58 AM
Trading plan is important. I call it my bible. If you use it on demo and tested your trading plan over a period of time, then you can trade the live account using this trading plan. By having high discipline to follow the trading plan stictly, it then helps you to reduce emotions. Why is this important? This is because trading is 50% system and 50% psychology.
Here is my ichimoku trading plan.
[Bullish - H1]
1. Price above kumo.
2. Price above TS. TS above KS.
3. Chikou is above previous candle (vertically).
4. Future kumo is bullish
5. In higher TF (daily), price must be above kumo.
[Bearish - H1]
1. Price below kumo.
2. Price below TS. TS below KS.
3. Chikou is below previous candle (vertically).
4. Future kumo is bearish.
5. In higher TF (daily), price must be below kumo.
[Stop Loss]
1. ATR(14) / 2 is used as buffer.
eg: If ATR(14) = 20 , my buffer is 20/2 = 10
2. Stop loss is placed at kijun sen + buffer.
[Take profit]
1. There is no take profit region.
2. Trail along the kijun sen. Every 4-6 hours when you login, just move your stop loss with the kijun sen. When price hits your stop loss, that will be your profit (either + or - )
The above trading plan has been tested with 10 years of data and gives a risk reward ratio of 1:4, and maximum drawdown of 6%. Because it is high probability trading, I use it to see any pairs with less than 8 pips. With around 20 pairs, you increase your probability of catching a high probability setup. 20 pairs are you CRAZY? No, for each pair, it will never take my more than 10 sec to make a trading decision. WHY??? Because Ichimoku is a very visual trading system. You do not draw fibos on it, nor count waves or worry for OB / OS. All you watch out is to find entry as near to the kumo as possible. That way, you will reduce you stop loss range, and get in the trend as early as possible when it just started.
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