Great technique for beginners...

[Akash]

Originally Posted by Actn

Good stuff Akash. Trying to build up and learn from your experience. So thanks!
Its amazing how the buy/sell 'signals' change when you view the chart in a 5min-15min-30min-1day (and others) period. Buy from one chart could turn out as a sell from another. Its utterly confusing to noobs like I.
For your purpose, you said you used a 15min time frame, did you realize profits (or loss) using the same 15min chart or did you switch from 15min to a higher/lower time chart? You mentioned you used EMA 20 , how did you figure out it should be 20 and not anything lesser/larger? Does one need to change the figure (20 to something else) if ones changes the view of charts timeframe?
There are some parameters in Ichimoku, did you play with them as well or the defaults were used?
God bless.

Hi Actn,
Hey, don't thank me, I'm learning myself, from you and other people on these forums . My experience is probably as much as you have, if not less.
You are absolutely right about the mixed buy/sell signals on different time frames, but I believe that the 30 min time frame is the safest. I saw profits on the 15 min time frame too, but later I realised that all that the Kijun-Sen line is doing is helping me realise that I am in a trend. So, higher the time frame, stronger the trend caught. So, 30 mins is the perfect time frame, as you do get quiet a few trades as you can see in my previous post and they are pretty safe. As for the 20 EMA, I found it to be perfect for the 15 and 30 min charts, as it turns at just the right time, not too long after the trend has started, and not too early before it starts. If you change the time frame, you will need to experiment with the EMA, but I guess the 20 EMA will do on almost any time frame.
I did eventually check out what the other parameters of the Ichimoku are for, but didn't really play around with them much, as the Kijun-Sen really caught my attention.
Let me know if you got any more doubts.
Rockin' Tradin'
-Akash

[Akash]

Originally Posted by traderone

YOur slightly off on your pip total. You only made 25 pips on August 25. You added a loss instead of deducting. So you only made 440 pips for the week

If I ever did that in a month I would do handstands. The forward trading will tell the real tale. Good luck.

Hi Traderone,
Thanks for correcting me on that. Also, the above results are not backtested, they are all forward trading , just that I did it on paper instead of a demo account. Set stops and limits when I was out. When I was at home, I manually trailed the profit limits.
Rockin' Tradin'
-Akash

[Akash]

Originally Posted by web

4 days into my paper trades using MT4 and I have one question:

Sometimes I read of people placing a 15 pip S/L on thier trades. I noticed that I never can get anythin less than around 20 pips S/L.

Does the S/L varie per software? per timeframe? or does it vary depending on the current spread and volatility of the currency pair?

Hi Web,
That's quiet strange, I never tried to place stops in MT4, so I really can't comment, but all of the other platforms that I've tried allow stops that are 5 pips away from price. Are you sure that the price wasn't too close to the stops you were placing?
Rockin' Tradin'
-Akash

[Akash]

Forgot to add what I made on GBP on Monday... it was 80 pips [img]images/smilies/biggrin.gif[/img]...So the new total is (hold your breath all) 520 pips. Let's just hope it stays this way once I start live trading with it [img]images/smilies/wink.gif[/img].
Rockin' Tradin'
-Akash

[traderone]

If it does stay that way will you please let us know???

I would be thrilled to see you make half of that amount per week

[Akash]

Originally Posted by traderone

If it does stay that way will you please let us know???

I would be thrilled to see you make half of that amount per week

Hi Traderone,
I surely will let everybody know about next week's results. Quiet frankly, I would be happy making just 1/4th the amount that I made this week.

Rockin' Tradin'
-Akash

[rollingstone]

Hi Akash,

Looks to be a nice system, I have looked into this before and it is quite promising, still a fair bit of decision making required though, for instance deciding when the 20 EMA is too close.

I have looked at some old charts but this system cannot really be backtested as the moving average moves as the candle develops, for instance in the example below, the highlighted cross of the KS line doesn't look like a trade because the moving average is flat, but when watching this live when the price initially pieced the line the moving average was pointing down, and only went flat again when the candle retraced.

Don't know of any way round this problem.

[Akash]

Originally Posted by rollingstone

Hi Akash,

Looks to be a nice system, I have looked into this before and it is quite promising, still a fair bit of decision making required though, for instance deciding when the 20 EMA is too close.

I have looked at some old charts but this system cannot really be backtested as the moving average moves as the candle develops, for instance in the example below, the highlighted cross of the KS line doesn't look like a trade because the moving average is flat, but when watching this live when the price initially pieced the line the moving average was pointing down, and only went flat again when the candle retraced.

Don't know of any way round this problem.

Hi RollingStone,
You are absolutely right, about the EMA curling up while the candle is forming and then going flat once the candle has formed. I have found this to be a problem too. This is something I'm trying to work out. I guess the farther the EMA from the KS line the safer the trade, because then you know before hand that it really has turned. But, looking at the overall picture, there are more profits than losses and considering that this is a shades of gray trade, this strategy looks rather good, as it helps you catch the trend pretty quickly. But, there are obviously some glitches that have to be worked out. What I was trying to do was- let price cross the KS line, then wait for it to retrace back to it once again and then sell, because when price retraces towards KS, then by that time (more often than not) the EMA curls in the price's direction.

I would really like it, if you could research on this topic the next week too and try to find a way around this problem. I'm sure there has to be a hidden solution to it. Also, how did you get that thing on the bottom of your chart? Is that on MT4??? Please let me know.
Rockin' Tradin'
-Akash