Trading with Ichimoku

March 27, 2008

Normally, I stick to my trading plan and the two trading strategies I have been using for some time.  They have produced good results.  However, I was bored on one of those days and began to poke around on the web.  Ichimoku caught my attention.  I have never used the Ichimoku indicator before.  So, I decided to read about it and found it absolutely fascinating.  Even though at the very first glance, it did look complicated.  After a few attempts, I began to get the hang of it. 

Here are a couple of web sites that I used to read about Ichimoku:

http://www.fxwords.com/u/ichimoku-cloud.html

http://www.prosticks.com/education/ikh.php

I had my first Ichimoku trade last night.  Bought EUR/JPY and sold it in less than 30 minutes and bagged 20 pips.  I did put a 20-pip stop loss in just in case.

Below is a 5-minute chart with Ichimoku I used last night.

Trading Euro Yen with the Ichimoku indicator on a 5 minute chart

This entry was posted on Thursday, March 27th, 2008 at 12:34 pm and is filed under Ichimoku, Test Your System, Trading System. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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