Ichimoku Kinko Hyo trading system...!

[tempest]

Hey Linkon,

Great posts on Ichi trading. Ive been following this thread for a long time and doing a lot of reading on Ichi. Been using it a little ,though mostly for general trend of a counter on EOD basis, but looking to get more holistic. Given most of the "authors" tend to refer to FX etc, was wondering what setting you use or think is best for the Indian equity markets.

A lot of people say the original parameters are best. I use 7,22,44 going by the 5 day week logic. Does it matter?? There is obviously a diff though when these are changed from the original.

Btw i generally do swing trades ( mostly stocks sometimes index) and my question is basically aimed at parameters for Daily TF

Thanks

Ps Oh Camel your thoughts are also most welcome

 

[CamelToeJoe]

I personally don't see a major difference between using 7 and 22 vs 9 and 26. I prefer 9 and 26. I actually use 9, 16, 24, 32, 64, 128, and 256 for day/swing trading with 9,16, and 26 for reference and the kumo for breakout plays. I usually only play outside of the kumo.
Everyone is different. There has been a lot of trial and error to find out what works best for me. I am loving this setup.

Initial play. 2min charts

Now trading at 1.3901 +145 pips

 

[CamelToeJoe]

Daytrading Gold futures today.

Here's one screen shot of a trade and another with my total profit loss.
My screen shot shows my profit limit and my stop loss with a R:R of 2

 

[CamelToeJoe]

BTW - Nice trades, charts, and analysis Linkon!

 

[CamelToeJoe]

Ichimoku 2min charts $220 USD on the day

This is not in stone as I'm always fine tuning my method. Experienced futures traders please give me a thumbs or thumbs down and if a thumbs down let me know how I can improve. I'm always looking at mistakes and trying to correct them. I've been on the money only about 60% of the time lately but my risk/money management keeps the profits.

Daytrading Gold 2min charts
Risk $100 Reward $200 per trade but I always adjust based on ichi kumo support/resistance
R:R will vary depending on support/resistance
Set stops at S/R not above/below because slippage
will take you out more often than not.
I do this to cut my losses. If the trade turns, I simply re-enter
No more than 6 trades per day
Commission is $6 RT
Total commission costs per day is $36
*Maximum losses per day is -$360
Maximum wins per day is $720
50/50 wins to losses is $180/day
Maximum losses per week is -$1800
Maximum wins per week is $3600
50/50 wins to losses per week is $900

 

[DanPickUp]

50 points secured..had enough for the day... so stopped trading....

Hi linkon

I am still wondering how some body can live with this stress

You have all my respect to make such profit in one day.

As I am not in this segment and I am an old position trader, I do not have your stress ( As far as I know you are young and I have some more years ).

Still nice to read your thread and further good success.

DanPickUp

 

[CamelToeJoe]

I second that, Dan. Big props to Linkon. Brother is a killer.

 

[CamelToeJoe]

After 5 trades today, this is what my 2 min chart looks like. However, I usually aim for 6-12 trades a day.

I don't watch basic ichi signals for entries. I don't care what color the clouds are except that green is obviously bull and red is bear. I just look at their levels and watch s/r.
9,16,26 are my TS/TS/KS lines (black) and are used for reference and not necessarily for entry. I watch price action, s/r build up and volume. Kumo periods consist of traditional SSA/SSB as well as 32, 64, 128, and 256. Daily price high/low and open/close should be noted for the past few days or even the last week.

Profit stops are set at 2 and Stop losses are set at 1 for kumo breakouts. Chop trading in the kumo is around .7 to .7 but are adjusted according to kumo s/r and price action/volume. If it's real choppy I don't trade in the kumo hence the reason I didn't make any trades until after 10am.

I don't have a system as I use intuition along with ichimoku. This is mostly skill, timing, and experience. Anything you do a lot, you should become good at. If not, it's time to do something else. Good Luck.

Small trades today but it works. total +2.2 Gold points :thumb:

 

[CamelToeJoe]

watching for gold in grey skies.
30 minute chart for swing traders

 

[CamelToeJoe]

Gold couldn't quite get into gray skies for a bullish run (above chart). Instead, I saw that I was wrong and waited for my short opportunities out of the cloud at 1365. Gold now trading at 1330. Good Luck.

Here are my Gold day trades today. I'm doing this very consistently with only 1 losing day in 2.5 weeks. That's the best run I've ever had. I see this continuing. I was shooting for 2-3 points a day but am seeing myself slowly move up to 4-6 points/day based on recent performance.