Ichimoku trading

I trade with the Ichimoku. My so called journal is here, if you are interested to view. cheers

Hi Ichi

Thanks for sharing your journal, it looks interesting. I'm also studying the Ichimoku strategy, but I am struggling with the entries. I have also no clue on what would be a decent stop-loss, in relation to the time frames i am interested in. I'm talkin lower time frames here, 5m, 10m 30m.

BTW, I am sim trading the e-mini's.

hi batavia, it depends on what Ichimoku strategy you are using. how do you usually look for your signals?

hi Ichi,

Long:
- Price= above Kumo
- Chikou Span= above Price (and preferably above Kumo too)
- Bullish Senkou Span
- Tenkan has crossed Kijun upwards

Short:
opposite

these are suppossed to be the strongest ones, according Ichimokuktrader.com (Patel). There are more strategies, like the use of these signals as separate signals, and trade accordingly, but those are for the strong at heart / experienced traders.

It helps too if these signals come together on different TF's, according to Patel, which makes sense to me.

see image of today's trade *http://chart.ly/uploads/egpa899.png# target=

How about it.

regards
BT

ok so i can see you already have a plan. So what is wrong with your entries? when all these components come together, you should have no problems with your entries right?

Well this particular trade was not a good example as it happen to be an occasional winner. It's just that last year I was quite successful and was able to make nice sim profits with my system, but suddenly the winning trades were tumbling down and had a few consecutive loosing months. And I can;t figure out what goes wrong, feels like I tend to enter too early. Also I can't stop altering the stop loss when i'm in a trade that goes wrong, hoping it will turn back in my favor.

It probably has to do with emotions I can;t control. Familiar?

BataviaTrader said:

Well this particular trade was not a good example as it happen to be an occasional winner. It's just that last year I was quite successful and was able to make nice sim profits with my system, but suddenly the winning trades were tumbling down and had a few consecutive loosing months. And I can;t figure out what goes wrong, feels like I tend to enter too early. Also I can't stop altering the stop loss when i'm in a trade that goes wrong, hoping it will turn back in my favor.

It probably has to do with emotions I can;t control. Familiar?

Click to expand...

Well, I believe you do know how to read price action as its useful to be used together with Ichimoku. As you can see in the picture, price retraces back to your Kumo line (as well as touching the Tenkan).

See here

From a candlestick point of view (pls see the yellow oval), from a red candle, it becomes a spinning top. After that, the candle ends higher than the high of the spinning top. This indicates a change of sentiment already. But i believe you are using Heiken Ashi, so by the time the spinning top forms, if you switch to pure candlesticks, you would already have a reversal signal. I would suggest , if you haven't had the chance, to learn about spotting reversal candle patterns. (also, i would suggest using candlesticks rather than HA, because from what i experience, candlesticks are much faster to spot signals than HA. )

As for emotional part, well, i guess i (or anyone) can't really help you on that. You will have to train your "discipline".

Hi Ichi

Thanks for your reply, which was very helpful. In the meantime I have switched from HA candles to regular candles, and I am planning to start focusing more on reversal formations.

I've also added Fibs to my charts, and it looks like the reversals come perfectly together with the fib levels. I've been replaying a lot the last few days, and it looks promising. (ps if you're interested you can have a peek at my sim results on the homepage of my journal).

About the emotions, I probably need to read a book or two about trading & controlling emotions, and I'm lookin forward to do so.

Thanks so far and happy trading.

BT

Hi guys.

Im really interested in ichimoku. I like the all thing. I think its very useful and i have to know about it. Im using price action for trading and really like to learn ichimoku too. Please send me some resources so i can start learning.

Thanks.

Sent from my HTC HD2 using Tapatalk 2

Hi Komohi,

Welkcome to T2W forum. For more info on Ichimoku, visit Main Page - IchiWiki - The Definitive Reference to the Ichimoku Kinko Hyo Charting System

For training video's on Ichimoku, visit
https://www.youtube.com/user/sunman4008

another link
https://www.ichimokutrade.com/p/

I am not involved in any of the websites mentioned above, I just recommend these as a fellow Ichimoku trading rookie.



Good luck with your trading.

ichi said:

also, i would suggest using candlesticks rather than HA, because from what i experience, candlesticks are much faster to spot signals than HA.

Click to expand...

the point is, HA are supposed to be slower to "react" - in order to reduce noise, to keep you in a trend trade, and reduce the number of contrary, possibly false, noisy signals

TheForexMagnet said:

BataviaTrader if you are looking for resources on emotion control look up "EFT" (Emotional Frequency Technique) on google

Click to expand...

Thanks ForexMagnet for the advice! However, I was fed up with the emotions bugging me, so I have developed an automated strategy, and having it tested as we speak. I´ve never had so much fun!

Thanks again and regards
BT