EURUSD 14 Sep 2011 Tenkan-sen cut the kijun-sen sharply. Went long when price cuts above kumo cloud, did it during pull back. Again, another choppy session with sharp reversal. Price cut through Kumo cloud . Stopped out
This is a follow up to the trade made earlier. Price has moved significantly lower since 06 Sep, around 6++ pips.
EURUSD 22-Sep-2011 Price had been trending downwards recently. Decided to establish a position when price was trading above the kumo cloud. The entry setup was when the tenkan-sen cut below jikun-sen while above the kumo cloud. And the price was lower than the low established from 2000h onwards. Market moved down thereafter. Partial position was closed when it reached 40pips. Stop loss was shifted lower. Stop loss level was hit later on. Called it a day.
EURUSD 23-Sep-2011 The price had been trending down before 2000h. At point A, price faced some resistance at the bottom of the ichimoku kumo cloud. Nevertheless, the tenkan-sen started to cut above the jikun-sen. The price started to test the kumo cloud again. This time round it penetrated through the top of the kumo cloud. At the same time, the chikou span also penetrated above the cloud. Established a long position thereafter The price trended upwards thereafter. There was some consolidation prior to another movement upwards. Placed a profit taking level. Closed off partial of the position at Point B. The price consolidated at point B before trending down. A stop loss was placed below the Jikun-sen. It was later triggered at Point C. Called it a day.
EUR/USD 26 Sep 2011 The price had been trending upwards earlier since late afternoon. Nevertheless, it seem exhasted. The tenkan-sen cut below the jikun-sen just before 2000h. It looked like a good opportunity, but that's not part of the trade plan. Price trended lower and penetrated through the kumo cloud. However, the confirmation from chikou span had not arrived yet. Until a quarter past 2000h, the order to established a short position for the price was keyed in. However, price did not go lower. It had been ranging for quite a while, before it was triggered 25 minutes later. The price almost penetrated above the ichimoku cloud after stop-in. The thought of exiting the trade started to hover in the mind. Hang on to the plan, and keep the trade. Price started to trend downwards thereafter. Closed partial position after meeting the initial target. Continued to close partial position again when price trended downwards. Have shifted the stop loss level down. It got hit subsequently. Call it a day thereafter.
EUR/USD 27 Sep 2011 Ichimoku Trading Like yesterday, price had been trending upwards before 2000h. It started to trade in range after 2000h. Tenkan-sen cut below Jikun-sen just after 2000h. The price never moved much from there onwards, but trending lower in a gradual manner. The price moved into the kumo cloud region, and finally cut through the kumo cloud. However, chikou-span had yet cut through the cloud. Chikou-span traded below the cloud just before 2100h. The price appeared to be consolidation mood. It was noted that tenkan-sen was about to cut jikun-sen, decided to take a conservative position instead to short at the market. The price never traded lower, it went the other way, up north. Was stopped out. A loss day, called it a day. Review: To note that if chikou span cut below the cloud when tenkan-sen about to cut above the jikun sen (While below the cloud), stay out....or long?
Good Rule based trading. I have seen your posting once in a while. I trade US stocks and ETF options thro a Charting program called Quote Tracker with TD Ameritrade. It has everything-P&F/Range/Volume/Tick/Time charts except Ichimoku. TOS platform offered by the same company offers Ichimoku and Pearson Pivots but TOS does not store data (on demand only) where as QT stores data (both intra day and Historical ) .So even with out internet I can try various combination Analysis after market close with out link to TDAm/TOS servers. I dont trade spot forex or IMM futures. But do trade options on FXE (Euro ETF) or FXF (swissy) or FXB (cable). I dont open browser during trading hours but for the sake of Ichimoku I open freestockcharts.com sometimes (It gives live data (BATS) and trading capability in to TD Ameritrade a/c) But Iam scared to trade thro it as it thro browser/not exclusive TD am product) your rule based trading 1 min Ichimoku Fx is reasonable ( Forex like commodity trends well unlike Stock/stock indices which are inmates of maniac mental asylum )
thanks kevin. did not trade today, was out for a marketing dinner with prospect. will be travelling to china in 2 weeks time for a business trip. i try to keep the trade plan simple by using ichimoku charting. nevertheless, money management is important. all the best in your trading.
Since you have a full time job,trading spot forex during Asian and European hours is more suitable and you can call it a day by max 11pm Singapore time ( US 11am -summer) and go to bed. Trading US index/stock /options is crazy hours from HK/Singapore. 9.30pm to 4 am (10.30 pm to 5 am winter) I used to trade spot forex /forwards with UOB bullion/forex desk. As an Import/exporter -I used to buy lot of spot /forward Euro for imports/hedging etc. Nowadays more equity /etf/index/options etc.
I just started options trading, calendar spreads at the moment. for stocks and mutual funds, I am investor's mindset. still a long way to go though....