so you just close the trade right before the market closes even at a loss? or do you tighten your SL?
and whats your average time being in a trade?
If I were to trade on a friday for example and the trade wasn’t finished by the end of the trading day i would either:
- close the trade is if was negative and just take the loss (because i shouldnt have entered on a friday anyway)
- move the sl to breakeven plus spread if it were already positive or
- just take whatever profits i would have if it were a positive trade.
With this system i would say a full trade normally lasts about 2 to 3 days. You have to remeber that this is a swing trading method.
One more thing. When i said i dont trade fridays that’s not entirely true. I dont trade the US session on fridays. I’ll try to enter in Asia and be out by US open.
I was experimenting and found that instead of QQE, change that for the RSI (26). It’ll help filter out some of the bad trades a little better
Ok so if its 2 - 3 days, wednesday’s and thursdays trades could be effected by the close of the market right before the weekend
so if i need to sleep just set an automatic trailing stop good enough
Ok and then just grab whateva you can before the close just incase makes sense thanks
Ok great thanks for letting me know, i’l use both
and something else, what do you mean by daily/weekly Tenkan-sen Kijun-sen S/R level?
When you look on the daily and weekly charts I just mark the Tenkan-sen and Kijun-sen levels using horizontal trendlines and I use them as references on the 1 hour chart.
so the Tenkan-sen and kijun-sen high points and low points? can u add a pic to explain pls
Not the high/low points. Go to your daily chart and look at today’s candle. The end of the lines should be directly above/below the candle. Mark the price of today’s Tenkan-sen/Kijun-sen. Do the same on the weekly chart. I’ll try to get a pic together if you still have any confusion
Ok I understand now, I’ve never seen a system that does that. So the points at which the Tenkan-sen & Kijun-sen are at now on the Daily chart and are at now on the Weekly chart, you use those points to exit when your playing the hourly chart right?
Ok good. Yes, they could be used as exit points OR as points to start protecting your profits
Is this the only system you use?
what about on babypips any of these systems do you trade?
I’ve checked them all out, but I haven’t actually traded with any of them. What about you??
Hi digitalgypsy,
I was going through your thread and found your system very interesting, however can you explain what the difference are between using the regular ichimoku system and yours?
The regular ichimoku uses the same entry rules (except using the rsi) which implies going and entering the market with the t/s crossover and making sure the entry is in sync with the trend which is the kumo. Can you explain the differences please?
thanks!
Hi YoshiPips
The main differences are that I dont use the cloud on this particular system or chikou span. Instead, I use the RSI/QQE to determine the strength of the crossover signal. Other than that the 2 systems are very similar.
Great! Thanks for your answer
This seemed like a good thread why has it stopped