Simple Forex System Trading

Stumbled upon this video on Fxstreet.  Very informative and great training about Ichimoku.

I didn’t realize that Ichimoku also had its own Net TV show.  This is insane.

I was doing some research on Ichimoku and stumbled on this site, which has a great post on the Ichimoku cloud on US dollar / Yen.  However, it is way too advanced and complex for me.  I do respect the author’s analysis and research, but I’d like to keep my trading simple.  It is a good read none the less.

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.