The Gold Method – Ichimoku
My New E-book, The Gold method – Ichimoku, is now available!!! This is the most complete publication that I have done. The first several chapters, explain in great detail, my methodology. The next 20 Chapters is a step by step, day by day application of the methodology for varying real-life market conditions.
I will explain and you...
Ichimoku Daily Levels:
The ichimoku Daily levels are like stone walls. price hits them and stops. As you can see above price came down to the Daily Kejun Sen (black line) at 1.63258 and reversed.
You could have placed a buy order at that level with the following parameters:
Entry: 1.6325
Sop: 1.6295
Risk = -30 pips
profit target = 1.6403 (the daily Senkou...
Contingencies:
Plan for the worst and have contingencies. As was I preparing for today’s trading session, I lost my internet. But I had a contingency in place.
There are 3 main issues traders can face, in addition to the market.
1. You can lose Power,
2. You can lose internet,
3. Your computer crashes
It is prudent to have contingency plans in place for all the...
Correlation:
Correlation is a key concept and can make the difference between both winning trades and losing trades as well as good trades becoming great trades.
As those who follow me know, I trade almost exclusively the GBP pairs. Ideally, we want to see all the pairs moving in the same direction. That is a great sign that not only will the trade be successful...
How many Trades do you need?
I am often asked or advised that I should post more trades and/or have a signal service. This brings me to how many trades do you need. Understand, that enjoying the lifestyle that trading affords is always something you want to strive for. Do you want to be strapped to your computer for 8-12 hours a day? where is the fun in that?
if...
Trading before News
News is a fact of Forex trading and while their are several ways to trade the Actual release and it's aftermath, today I want to focus on trading before the News. Understand that the decision to enter the market before News is a conscious one and you don't have to do it. Prime examples are days where interest rates, for a currency you...
Trade Review and Documenting
Most successful traders review and document their trades, unfortunately, alot of new traders do not. "what's done is done, can't change it...." while that is true, you can, and imho must , learn from them.
Each afternoon, whether I take a trade or not, I review the market and my potential set-ups, executions, and trade completions....
Measuring Success and Goals
As a Professional trader, you have 1 goal...Make money!!
That said, traders like to measure their success differently. Some use pips, some use wins v. losses, personally I use daily return. Understand my focus is on generating income and my mantra is "keep stacking positive days"
Imho, using pips to measure success can be misleading,...
Methodology v Strategy
Some traders use the words interchangeably, I do not.
A strategy is a set of conditions that signal you to enter the market, for example, A moving average crossover, RSI going into oversold/overbought and then reversing, Divergence, etc. and combinations thereof.
A Methodology, on the other hand, is a systematic approach to the market...
CCS Disease:
CCS Disease is a disease many new traders are afflicted with and it can be fatal!! CCS disease is short for "constantly changing strategies". Certainly, I firmly believe that a trader must find a trading strategy that fits both their personality and the time they have to trade. However, once you find a strategy that you like, imho, you must back...
Hello All
I thought i would post a video of how i completed my analysis and entered 6 trades in total for AUDUSD.
All with different lot sizes dependant on approach and also how I managed my risk going into the FED news, and how with 6 trades triggering at different times (risking 1% of my capital for each trade) - I only had 3% at risk at anyone time which I...
BACK TESTING CONT.:
High probability set-ups
To be a consistently good trader, you must trade in a consistent manner.
As those of you who follow me and review my trade idea’s know, they are the same, almost boring. You see Type 1 (Shown above) or Type 2 trades all the time and they look all the same. EXACTLY!!! That is what you need.
If you have taken (either...
