Discussion in 'Forex Trading' started by resurrector, Jul 15, 2011.
Any of the forumers here used Ichimoku Charting for their FX trading?
Yep. In fact I just got stopped out (at a small profit) on my short 6e position. I use Ichi to set stop levels on a trend following model i use.
nice to hear from you. well i guess its good that you have a profit.
I was stopped out twice for eur, probably i guess due to stops hunting even though i places some pips away.
Attached was one of the trades I had last week.
Based on the trade set up, long the EURUSD position, was eventually stopped out.
A short position was taken. More short positions were taken according to the money management sizing.
The price came off further. The positions were closed out gradually. It was all closed out after the price cut above the Kumo cloud.
Just to share one of the trades.
As from the chart, a stop order was filled for EURUSD @ 1.4155. The position was subsequently.
The position was unwind gradually when the price traded up. This is a good trade with the price escalation shortly when the stop entry was triggered.
The position was closed out completely when the price traded below the Kumo cloud.
This was a trade done on 20 July, a trade which greed and fear striked in. The trade ended with a lost.
It was an easy trade when the price trend.
Long EURUSD during the US timing, as the market trend upwards.
Unwind the position graudaully, and was finally stopped out.
Called it a day thereafter.
It was not a very good start for the week. The price action was quite choppy.
I started the trade with a long, but was stopped out. It was followed by a short, but was again stopped out.
A long was reinitiated, shortly after, it was stopped out again.
Another short was initiated, and finally, the price moved downwards gradually.
It was still a loss for the day, but the loss had been greatly minimized by the last trade.
This doesn't look at all, good. But at least we'll learn to not be greedy next time.
Been there, done that.
EURUSD 26 Jul 2011
After taking into consideration of stops-hunting, had twitted slightly to how the stop-loss being placed.
Still, using ichimoku charting as the main frame work, this trade had come out as a good profit.
Separate names with a comma.