Great technique for beginners...

[fxmantra]

Hi Akash,
Great technique.
I am going to follow it in mini account. can't do anything in demo cos of my careless nature :-)
anyway, here we go.
I have just entered into two trades as following.
EUR/USD- SHORT @ 1.1913
GBP/USD-SHORT @ 1.7349
Still have to learn how to put charts in here.
Please let me know if I am making any mistake.
Thanks.
fxmantra

[fxmantra]

Looks like I entered a bit early in eur/usd trade cos it turned around n started to go up while I was trying to attach the chart.
but gbp/usd was right entry i think.
please advise if anybody see where i went wrong.
thanks.
fxmantra

[fxmantra]

so far so good,
stop moved to break even for gbp/usd @ 1.7348 as price moved 10 pips plus.

[fxmantra]

okay, gbp/usd closed at even.

[fxmantra]

I feel like hijacking Akash's thread.
So, I think its better to start a new thread and post all my testing results there.
Thanks.
fxmantra

[america1931]

Forget Ichimoku ... way too complicated ... you can accomplish almost or better with the 21 LWMA ... trade short when price crosses down (is less than) 21 LWMA ... trade Long when price crosses (is greater) up ...

My software automatically makes a signal when a cross occurs ... then watch for 100 plus exits ... when price starts moving against you or sideways ... then exit ...
try that for a simple system on the 4 hour GBP or CHF ... I just back tested it with a visual exit of 100 plus pips ... fantastic ... good luck ...

[John72120]

Has anyone read "Bird Watching In Lion Country", by Dirk duToit? I went to one particular 4X trading site that that was the only recommended book. I'm looking forward to hearing from anyone who has read the book. Additionally, I believe it is an E-book, and the price was $69.95. [I though it rather stiff for an E-book]. thanks.

[ampris2000]

ichi isn't complicated.

use metatrader and color code your lines. tenkan san white. kijun sen green and chikou span yellow.

color the up kumo green and the down kumo red.

KUMO
The good function of a kumo is it visually shows support and resistance levels. instead of it being subjective. this has helped me out quite a bit.

Chikouspan (yellow line) .
If it is above the prices, strength is with the buyers. If below prices, strength is with the sellers.

When the white crosses the green line (upwards) buy. If downwards sell.

Confirm that the chikouspan agrees with the trend direction. Sometimes the white will cross the green saying to sell but the yellow line still shows the strength is with the buyers.

The kumo also shows the strength of the support and resistance levels. the bigger the cloud the more the strength.
More later, but that should be enough for now.