Learning and Implementing Ichimoku in Forex

ag_fx

Well-Known Member
#21
Hi Ankit, this thread has started my interest in Ichimoku once again. I knew the basics of it but never gone to the level where it I can trade it. I think my biggest fear has been the overload of a Japanese language words. Whenever I came across them, it hit me again and again.
(I have nothing against the Japanese language, but unfamiliar words make it a difficult read)
So I am downloading the DOC version of this thread and going to replace all Japanese names with more familiar words.. and re-read it.

First 2 posts have already given me many ideas to atleast go back and backtest some of the stuff for my instrument - NIFTY.

Personally, I have respect for age old trading wisdom that has originated from Japan (candlestick is live example of that) so will certainly give it a try.
Will come back to this thread later after digesting my version of this.

Keep posting more on this. Happy Trading


As for the names, you can use the short forms and they are much simpler.

Chikou Span= CS
Tenkan Sen= TS
Kijun Sen= KS

and rest is= Kumo Cloud. (You dont have to bother about Senkou Span A and B. They are collectively known as cloud).

You dont need anything else apart from these names to trade this system.
 

ag_fx

Well-Known Member
#22
No doubt this is Good trading system. :thumb:

But personally speaking, I wouldn't try this ... feels dizzy with soo many colorful & whirling lines. :confused:

Anyways, keep up the good work Ankit.
Thats what I thought when I looked at this system for the first time. But once you read it and see a couple of trades from it, you start getting hold of it. It looks like a system overloaded with indicators, but it is not.
 

AW10

Well-Known Member
#23
As for the names, you can use the short forms and they are much simpler.

Chikou Span= CS
Tenkan Sen= TS
Kijun Sen= KS

and rest is= Kumo Cloud. (You dont have to bother about Senkou Span A and B. They are collectively known as cloud).

You dont need anything else apart from these names to trade this system.
I have selected names like - ST-Equilibrium /LT-Equilibrium (for first lines)
Shifted-Close (for detrended CMP), ST-cloud and LT-cloud for last 2 lines.
Atleast for me, names tells me all and hence less use of memory cells to recall TA/CS etc.

Still reading my version of doc..
 

AW10

Well-Known Member
#27
So these trades are Kumo Breakout strategy

(Here is link to prev post in this thread giving further details of it..
http://www.traderji.com/forex/39601-learning-implementing-ichimoku-forex.html#post423227)

How about STOPs /Target etc.. ?
If we are learning, then lets attempt to learn properly and as best as we can.

I am not trading them, but my stops will be at 1.33440 for EUR Long trade and 1.07455 for CHF short trade.

Happy trading
 

ag_fx

Well-Known Member
#28
So these trades are Kumo Breakout strategy

(Here is link to prev post in this thread giving further details of it..
http://www.traderji.com/forex/39601-learning-implementing-ichimoku-forex.html#post423227)

How about STOPs /Target etc.. ?
If we are learning, then lets attempt to learn properly and as best as we can.

I am not trading them, but my stops will be at 1.33440 for EUR Long trade and 1.07455 for CHF short trade.

Happy trading
The trades were not Kumo Breakouts, but were taken from M15 charts. The stops on both were the KS(KKijun Sen) or THICK BLUE line on H1. Since they are counter trend trades, the targets are adjusted accordingly.


PS: The EU trade missed the target by 1 pip and now retraced 15 pips from there :(
 

AW10

Well-Known Member
#30
Sorry, I forgot to note the red horizontal line on the chart with text Buy/Sell on it.
I assumed that as candle has broken out of Cloud and hence we got the signal now hence was ready for Kumo breakout.

Your trades were taken inside Cloud .
Few doubts ? appreciate if your views on it -
1) btw, as I understand, that is high risk tradezone (inside clouds), so why jump on them
2) why are they counter-trend cause in both the charts, I see 4 out of 5 lines aligned in below/above the direction of the trend. Onle line that is not aligned is other edge of Cloud.

Maybe I am missing something with my limited knowledge of trading these lines.

Happy Trading
 

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