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Nice 6E trade. Price broke cloud, I like to wait for it to pull back to either the kijun or Tenkan lines and enter when price moves past the Tenken line. I used the Tenken line as a stop placement.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Chris Capre has a strategy Called " Kijun ATR cross on a 5M chart." I understand that he is buying into strenght, I am not sure how he uses it, or even how he sets up his chart.
My take was to use the Kijun cross the same way as a moving average cross and use the Eco 2 for momentum. I did not take into account the position of the Tenkan line. The only other filter I used was to take trades in the direction of the future cloud.
I made three trades for + 25 pips, the arrows show where I entered.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
It was very choppy, trying to be patient waiting for an ichimoku signal. Finally made two trades for +15 pips.
First trade, price broke cloud on a flat spot. I was not going to take this trade because of the flat area. Usually price will retest these areas. I was anxious to make a trade, I know, not a good frame of mind to be in. Went ahead with trade and it worked out.
The second trade retraced back. Price broke the Kijun line and I entered into trade on the bar that closed below the Kijun. I could have stayed in trade longer, I was happy ending up with + 15 pips on what I thought was going to be a choppy day.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.
A) What are the top five benefits you have seen as a result of regularly posting in this journal?
B) What are the top five problem areas you have identified as a result of regularly posting in this journal?
C) Were you initially reluctant to start this trading journal? If yes, why?
D) How do you feel, overall, about your journaling experience?
E) Would you recommend to others that they should also start a trading journal?
Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.
The benefits that I realized were to be accountable for my actions. This journal was for me, however for every action there is a consequence. To expose yourself to public scrutiny can be a real blow to your ego. However having people looking who are not vested in my actions, will see things in another light that I may not have and offer a suggestion or an insight. I believe this is what this forum is about, traders helping traders.
My biggest problem is that I try to make everything better. Ichimoku has been around fot over 70 years. How can I improve upon that? I tried. I changed time frames, ichimoku settings, ways to enter a trade, trade management, and anything else you can possibly adjust.
I was very reluctant to start a journal. That is why I have never done so in the past. I never thought I had anything of value to offer. The other reason is that I did not want people to see what I was doing, it is very hard to be criticiized.
I will keep making journal entries. Going back and reviewing my trades helped me see things that I did not when I was in the heat of the moment. I would suggest to anyone to keep a journal, documenting your trades is for you and you only. Do not let the fact that it is done publicly deter you.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Made two trades today with ichimoku. The first price was above the cloud and closed above the kijun indicating a continuation of the trend. You can see price finding support on top of the cloud.
The second trade was a continuation. + 20 pips total
I was on vacation for the past 10 days, no trading.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
I just wanted to share my experiences with the Ichimoku, and see what comments are returned. It has made a big difference keeping me out of bad trades.
I am a new adopter of Ichimoku. I too started with additional indicators (MACD in particular), but things got better when I removed them (too laggy to be useful). I have tried HA candles & price bars, but they remove Price Action from the equation.
I have been using the Ichimoku to provide my setups, and looking to PA to provide the trigger. The I look to PA again to provide my exit triggers at resistance points provided by the Ichimoku, Trend Lines, or psychological numbers.
Everything I have read & experienced says don't change something that works, so I use the Ichimoku with the default settings. I have been trading a demo Forex account on the D/4H/1H, and sometimes use the 5M to confirm my exits.
I look forward to your comments as well as from other Ichmoku followers.
Sorry to learn about your car accident. As you may have read in my main thread, I've had a lot of back problems and pain as well for the last ~2 years.
Out of all the surgeries and procedures I've received, the thing that has helped me the most is therapeutic yoga. I hired a private instructor with just me and my wife three times a week, 90 minutes a session, and it's made all the difference.
