Ichimoku Kinko Hyo

[Rkji]

EURCHF M5 EXIT

* i need to work on my exits, closed trade with net gain of 12 pips & lost 5 pips as had no idea of a proper exit & i was just relying on a close below kijun or dmi + - cross

* closed trade early as feared of dmi + - cross but kijun was still providing support

* no trailing stoplosses - should have trailed a SL below kijun sen !!!

 

[CamelToeJoe]

Hi Rishi - I just started looking into forex. Boy am I excited! I'm going to start out watching three pairs. USD/JPY, EUR/JPY, EUR/USD

I'm liking your setups so far. Nice work dude.

 

[Tavnaz]

Hello there Camel Toe Joe,
If you are new to forex i would suggest stay away from indicators trap.
Trust me i have lost a lot of money because of the indicator crap.(no offence against you Rishi ji i am just talking in general)
My dear Rishi here is one of many experts here on traderji who knows what he is doing,i would suggest until he explains Ichimoku Kinko Hyo system he is uing properly don't commit anything foolish.
You could try Edwards Lazy Boy and get your hands dirty if you like.
See you later brother.
Tavnaz

 

[ag_fx]

Hello there Camel Toe Joe,
If you are new to forex i would suggest stay away from indicators trap.
Trust me i have lost a lot of money because of the indicator crap.(no offence against you Rishi ji i am just talking in general)
My dear Rishi here is one of many experts here on traderji who knows what he is doing,i would suggest until he explains Ichimoku Kinko Hyo system he is uing properly don't commit anything foolish.
You could try Edwards Lazy Boy and get your hands dirty if you like.
See you later brother.
Tavnaz

Camel Toe Joe here is a master at Ichi. Check out his thread in the futures section. And ichi is not an indicator based system, though it surely looks like one. Each component of ichi is very important in its overall usage. No offences to you either, just clearing the air around.

 

[Tavnaz]

Hi,
Yeah sure Mr Ankit i am so naive to say things without knowing.
I should have known this,by the way sir,i remember you from Mr Pipshowers thread don't you advocate price action to indicators Sir.
I still am not convinced with Ichimoku,let's see what happens only if Mr Rishi will throw some light.:thumb:
Regards
Tavnaz

 

[ritwijmahant]

hi guys..

i m using Ichimoku for past cpl of years.. regularly to trade in currencies.. works amazingly welll for INR.. and for usd/jpy.. euro to some extent.. but cant say the same for GBP.. cos thts one crappy currency.. and yes.. ichimoku is not an indicator based system.. apart from elliott wave .. its the only theory i have come across which can predict teh future price action in moderate terms.. thast is its a partially lead indicator system..

keep trading and losing or winning.. its the only way to learn :thumb:

 

[Rkji]

Hi,
Yeah sure Mr Ankit i am so naive to say things without knowing.
I should have known this,by the way sir,i remember you from Mr Pipshowers thread don't you advocate price action to indicators Sir.
I still am not convinced with Ichimoku,let's see what happens only if Mr Rishi will throw some light.:thumb:
Regards
Tavnaz

hi tavnaz

ankit has already explained that ichi is not an indicator based system

price action is supreme & just like you i never wanted to use any indicators and wanted to trade naked charts by visually spotting support & resistance so i understand where you are coming from...

though ichimoku might be an indicator but it highlights price action, support & resistance, consolidation, visually strong stoplosses & trend direction

i did not wanted to use a second indicator but for my exit, i tried to see if ADX would work though usually you do not need anything else.

Ichimoku = in Japanese means “One glance”
Kinko = balance
Hyo = Chart

Ichimoku Kino Hyo = Balanced (equilibrium) chart at a glance

so in “One glance” you get to understand price action

tavnaz, what might work for you may not work for another & hence lazyboy might not have worked for you but may be working for someone else.
two people could be given the same winning strategy but results could be different.

i hope i have replied to the best of my capability.

regards
rishi

 

[Rkji]

hi guys..

i m using Ichimoku for past cpl of years.. regularly to trade in currencies.. works amazingly welll for INR.. and for usd/jpy.. euro to some extent.. but cant say the same for GBP.. cos thts one crappy currency.. and yes.. ichimoku is not an indicator based system.. apart from elliott wave .. its the only theory i have come across which can predict teh future price action in moderate terms.. thast is its a partially lead indicator system..

keep trading and losing or winning.. its the only way to learn :thumb:

hi ritwij

to my limited understanding of ichi, i believe it works best with yen as lot of japanese use ichi especially in asian sessions. traders have told me that GBP is bit too volatile but i believe with proper MM, it might be a payoff with GBPJPY

wish you all the best in your trading


regards
rishi

 

[Rkji]

Hi Rishi - I just started looking into forex. Boy am I excited! I'm going to start out watching three pairs. USD/JPY, EUR/JPY, EUR/USD

I'm liking your setups so far. Nice work dude.

welcome to the forex jungle my friend !!

for me yen pairs work nicely though i trade it on many pairs as you would see in the screenshots. so far i have had good expereince with AUDJPY, EURJPY & GBPJPY & besides yen... EURUSD & EURCHF come to mind.

i always try to keep my charts look as clean as possible & you were an inspiration to start this thread

regards
rishi

 

[ritwijmahant]

yes.. works best with JPy and JPY croosses,. do try it with INR

workds well