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Trading: Still not sure what is my favourite instrument.
Posts: 155 since Jul 2009
Thanks Given: 464
Thanks Received: 112
Hello every one.
Big Mike has mentioned in the other Ichimoku Thread to start an exclusive Ichimoku discussion thread. As I have been a follower of Ichimoku Kino Hyo since about a year and seen an immence improvement in my trading, I will be sharing my thoughts and my trades in this thread.
Here is the link for Ichimoku Kinko Hyo wiki as I am not going into the details of its existance.
Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
If I may start with a question: are you using the 26 period displacement into the future for the cloud? If so, what is the rationale for this on intraday charts? (I understand the original idea of using a period corresponding to one month on daily charts.)
Trading: Still not sure what is my favourite instrument.
Posts: 155 since Jul 2009
Thanks Given: 464
Thanks Received: 112
Yes I use the 26 period displacement into the future for the cloud. My rationale: I like to use the indicator in its original form and shape. I personally feel that the creator of any indicator has its own rationality in creating that particular indicator. Tweeking the indicator from its original form means a lot of study into WHYs and HOWs for the change and I am not intelligent enough to do that kind of a research and hence no change.
Thanks
Steve
Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
Trading: Still not sure what is my favourite instrument.
Posts: 155 since Jul 2009
Thanks Given: 464
Thanks Received: 112
Hello
I will be a bit slow in the current week due to surgeries on both my hands and next week I shall be on vacation with family. Please bare with me evryone.
Ichimoku is a trend based trading system. Here are my 4 Rules for looking at a chart to trade.
Bullish:
Price should be above the cloud.
The Price should be above the Tenkan Sen and Tenkan Sen to be above Kijun Sen.
Chikou Span to be above the price which is 26 periods ago.
Senkou Span A to be above Senkou Span B.
Bearish:
Price should be below the cloud.
The Price should be below the Tenkan Sen and Tenkan Sen to be below Kijun Sen.
Chikou Span to be below the price which is 26 periods ago.
Senkou Span A to be below Senkou Span B.
This is how I look at all times to take my trades.
Thanks
Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
Trading: Still not sure what is my favourite instrument.
Posts: 155 since Jul 2009
Thanks Given: 464
Thanks Received: 112
Thank you very much Mike.
I highly appreciate your conceern with each and every member of your futures.io (formerly BMT) Family, including myself. I am in the recovering precess right now. Will be back soon.
Thank you very much .
Steve
Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family