Ichimoku Kinko Hyo trading system...!

[CamelToeJoe]

Camel,
Both stocks were bought when thy were in 'sort' of sideways price movement. One of them bought when just a close abv shortest line is obtained. This is confusing me as it has been said that one single close above shortest line should not matter much. Can you please clarify?

vin

I mentioned price closing below TS on an exit. I like to enter when price crosses above TS when KS is above. This is what I call a "bucket". I'm anticipating the TS/KS cross and if it doesn't happen, I can still secure profits at KS for a positive trade. If I'm totally wrong on the trade, I exit very quickly to minimize risk.

On exits, I don't mind if price closes below TS if I'm riding a longer trend. A close below KS would be a better indication of an exit. TRIX can be used as additional confirmation.

Note - I sometimes do use TS as my stop when I'm trading in a very volatile market (penny stocks). These can make 50% moves in a matter of a few days which is why I like to use TS as a stop in that market. In less volatile markets, a close below TS can be used as a profit taking signal. You don't exit your position completely, just take some of the money earned off of the table. Then if price moves even further down (to KS), and grabs support, we can take some of those profits, reinvest at a lower price and continue to make money on the way back up. Hope this helps.

 

[vinst]

On exits, I don't mind if price closes below TS if I'm riding a longer trend. A close below KS would be a better indication of an exit.

Camel ,
thanks for your view.
The above quoted phenomenon is putting me in trouble.
When we want to make a new buy, the scrip is in strong downtrend. At that time how a close above TS (KS>TS) becomes a buy, rather than a profit taking point of a short position?

regards,
vin

 

[CamelToeJoe]

check it out-
Entry - Price Above SSB (end of December)
You will see that price closed below KS at the end of January. You can exit here but take into consideration that price is still above SSB which is offering support. In this situation, it would be wise to wait for a close below SSB since KS and SSB are very close. Held...
Price did not close below KS or SSB until April which was our exit signal used in conjunction with TRIX downtrend crossover.

Volatile Entry & Exit Strategy
Entry - KS above TS and Price. Price crossing above TS.
Profit Taking - Below SSB, below TS, and finally below KS. You chose your method based on your risk tolerance in this situation.
2nd Entry - Price grabbing support on SSB while crossing TS/KS
(Price is now above major Ichimoku averages)
2nd Exit - Prive moved very quickly here. Take what you can get. Look
to stochastics for exit confirmation.

To answer your question - I'm anticipating a trend reversal with price crossing above TS and KS above both TS and Price.
Stochastics may be oversold and if not oversold, it may be increasing showing us buying pressure. I also use TRIX in the same manner for longer term trades.

 

[CamelToeJoe]

Here's a penny stock I just flipped. Entry on all strategies are basically the same for me. Exits differ. I take profits where I can get it. When trading something with larger volume like sensex (the Dow Jones in my case), my mechanical exits work wonders.
Note - My name on another site is "IchibomB"

 

[CamelToeJoe]

Please vote on this thread if you think it is helpful. I'm here for any of your questions and charts. Thanks!

 

[CamelToeJoe]

Watching for a slight pull back in the nifty. Pay attention to the support levels of TS, KS, and SSB. What price movement has been doing since the SSA/SSB future cross (March 16th) seems a little odd. I haven't seen long wicks formed in that manner ever!

Still considered a bull and holding. Price fighting for headroom.

give twitter a try: www.twitter.com/ichimokucloud

 

[vinst]

check it out-
Entry - Price Above SSB (end of December).................

I am going to take some time to understand these as well as earlier examples. Already coded a scan to look for entry conditions, will try to use as I understand better and better. Initial trial with scan showed entries leading to 25-30% profits in some trade, but got many losing trades. so as of now I do not understand profit booking in relation to ichimoku at all.

There was a reference to ichibomB in some website. which website?

regards,
vin

 

[CamelToeJoe]

I can definitely help clarify anything Vinst - PM sent, bud.

 

[CamelToeJoe]

Note - It's not so much about the filter/scan as it is your ability to recognize where a stock is headed (or the possibility) with just a glance at the chart. You must understand Ichimoku as a whole before you can begin to write quality filters/scans. My filters give me some great plays but they also give me some plays I would never touch. Again, the difference is recognizing the good from the bad and getting in on the good. I don't have a holy grail filter/scan, but I have a system that works and is very profitable.

 

[vinst]

Note - It's not so much about the filter/scan as it is your ability to recognize where a stock is headed (or the possibility) with just a glance at the chart. You must understand Ichimoku as a whole before you can begin to write quality filters/scans. My filters give me some great plays but they also give me some plays I would never touch. Again, the difference is recognizing the good from the bad and getting in on the good. I don't have a holy grail filter/scan, but I have a system that works and is very profitable.

CamelToeJoe,

thanks for sending the PM. yes, I too appreciate that ichimoku with 5 averages is not an easy to scan just like a moving average crossover. I made the scan to just select some stocks to take a look. ichimoku seems like a phenomenon. I hope I would be able to understand better and better with time.

regards,
vin