Actually I have talk about this strategy n those indicators b4 in my previous post In other pages. Ichimoku cloud is one of the most power indicators. It have support n resistance telling u it up or down trend. And also telling u how strong is the candle just by looking at the thickness of the cloud. For heikin candle it also telling u how strong is the current candle. Alot using old kind of orginal candle when trading. Which the color is mixup. Hard to it going up or down trend⌠But got heikin candle it cancle the noise. There only 4 price action to see on heikin candle which orginal candles have gone off price action to read⌠Heikin candle not only easy to read it save time, n gv mi enough time to mk my trading decision. In babypips also have the page which explains to u kind of indicators n beside that. Below is also the site which explains to u understanding heikin n ichimoku. It help alot. U can try on your chart u b surprised. Of course when real trading the setting of the ichimoku cloud have to change inordet for it to work even more perfectly. But also back to the question⌠This strategy suit me alot it help mi earn my pips everyday. But it may b a disaster to u. Cos it may not b suitable for u. Cos everyone have their own style of trading
Your most welcome. U can start on heikin candle chart reading first. This candle chart is v useful during real time trading. Example if when the time u open your trading platform n u see the heikin candle is n bullish halfway. U can slowly hv a cup of coffee n wait for the price reverse. Cos the heikin candle is telling u it still in bullish, Can donât need always look at the chart like the old kind of candle which u need to keep focus on the candle looking for reverse. When u see the heikin last candle which the wicks is side by side with with last 2nd candle n the heikin candle body is getting shorter it means it losing it momentum. Price going to pull back or even reverse. For mi, it a opportunity even for pull back. Can earn some pips. But than⌠Ofcourse hv to reconfirm with other indicators like psar, n ichimoku. Psar is the main, indicator I used for my reverse. But in order not to confuse u. Take a step at a time. Until u kn what the use of each indicator already than combined them together n mk it into a powerful weapon to fight the forex war.
I think itâs normally whatâs taught to beginners.
I tried many trend following methods and couldnât become profitable with any of them.
Now I trade only one, simple reversal pattern, and have been consistently profitable since I started using it. Itâs also helped to teach me patience, and to avoid overtrading. By being very selective, having precisely defined rules and taking trade that comply with them fully, I think itâs not really so difficult to become profitable. You just need one technique that works reliably.
Horizontal lines at points of swing high (resistance) and swing low (support).
Specially recent ones, and areas touched or rejected a few times.
(How else can you see support and resistance?).
Sorry, I donât know how to post charts yet.
The trigger for the method Iâm talking about is a pin bar on (or nearly on) the line, when the RSI confirms it - but itâs better explained in the post I put up a link for, in my post above. I do it with 1.5 reward to 1.0 risk as explained there, and have a good win rate. And sometimes a runner, too.
Well⌠if you noticed the price trend for the following years. In the past, trend is your friend. As of present, trend is not your friend. The market is fulled with tons of reversal, fake breakouts and a consolidation of previous trend which makes it harder for traders to identified a potential long term view.
We should understand and go with the trend otherwise it become too difficult for us to survive in risky market. We had to analyze the market and then make a plan that should be followed with full discipline to achieve our targets.
We had to trade with trend otherwise Forex market is full of risk and within seconds we may suffer from huge losses so first we should analyze over the market trend and then make entry to achieve our targets.
it is not necessary to trade always with trend. If you are not flexible not turn your trades when trend is suddenly changed you can face a big difficulty. I trade on base of my analysis , trend also count but I not go along with trend so far . there is no surety about movement so I have to see at what point I have to close my trades.
Itâs not necessary, but unless youâre very experienced and a specialist at trading reversals or ranging markets, itâs obviously a way of increasing your chances of becoming a profitable trader.
I canât rely only trend, I give my all efforts not only follow the trend, I make my own trading analysis and then follow the trend then I make the decision, trading with this way I am earning reasonable amount and enjoying.
Trading should be done with the aspect of trend because trend helps us to make right entry and generate the maximum profit as Forex market is full of risk and we may loss over all investment within seconds so we must trade with the trend.
I think alot of BP members would agree with that statement.
I dont always follow the trend myself, but I agree in principle with the concept. However, I believe that identifying the trend is easier said than done, mostly because its a matter of perspective.
Depending on the time frame used, section of a chart used, etc⌠multiple traders could analyze the same chart and arrive at different conclusions about the direction of a trend.
I also agree that trading is risky, but It takes much more than simply identifying the trend to minimize risk.
