Ichimoku Kinko Hyo and RSI

I am trying a new trading strategy using Ichimoku Kinko Hyo and the RSI
Am I on the right track? Using max 2% risk. Have a Trading Plan
Using a demo account as I blew 50% of my real account with a bad robot I purchased.
Start over with only $600 in my account and cannot afford to top up.
Always ready to learn.

in my experience the further i got away from indicators the better my results got. the problem w indicators for me was that i was not seeing the actual price action, which gives me a lot more info of what is going on, then an indicator which is just a simplification.

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Never used the kinko hyo before what is it? RSI is a good shout but remember most indicator lag a bit so you might not be getting in at the right point probably after the first move has happened.

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Hi did you make any backtest this strategy? how built stop loss is, based on atr? value in pips? Regards Greg

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I can’t give an idea about RSI, but Ichimoku Kinko Hyo is a very helpful indicator. Which gives the trader an idea about the reversal and continuation pattern.

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Ichimoku is a Japanese trading system I have been using that monitors past, present and future trading conditions. How to Use Ichimoku Charts in Forex Trading

Yes, I did backtest. I use ATR based stops on the NNFX method.

ok, how much data you are use? year? two? five? do you use fixed size in transaction like 0.1 lot?

Yes he a great man he produced so many colourful videos to explain his methods

Yes I use at least 10 years of data and always trade 0.01 to 1 lots depending on my 2% rule

ok so how do you know when the strategy lost profitability when each trade risks a different amount of money and pips?

I just follow my trading plan very strictly

That is good, so you don’t know when to turn off strategy. Maybe this strategy lost profitable already, and you will be trading until account touch margin call, anyway, good luck :slight_smile:

My strategy risk is only 2% loss. So no margin call for me thanks

if you say so :slight_smile:

I also use my ATR to set TP and SL