Ichimoku Kinko Hyo - BabyPips.com

Day #2 of my Forex Journey

Real quick before I get into my next steps of my FX Journey, id like to say thank you to all the people who commented on my last post! All of the tips I got were really eye-opening and introduced me to different parts of FX trading that I didn't even know existed. So thank you so much, and I hope to get more interesting feedback from you guys in the future! Also Im going to probably change my writing frequency from daily to biweekly. I think writing about every little trade is not going to be as beneficial to me as writing about my overall progress at certain points throughout the week.
I started this trading day out by learning up on order flow. A whole bunch of you guys suggested really interesting youtubers to watch, and I started with Mr. pip's series on order flow. After I finished up watching a few of his videos, I started to tweak my trading plan so that I could get in some chart time. I changed currency pair from EUUSD to the AUD/USD, the time frame from the 4 hour to the 1 hour, and my indicators from RSI, Stochastic, 2 SMAs and ADX to ATR, RSI, and Ichimoku Kinko Hyo. I also added a little fundamental analysis in my trading plan because I think that I am being far too reliant on my indicators. I planned to check the economic calendar and determine the general trend of the currency pairs that are strongly correlated to the AUD/USD before I began my chart analysis. In addition to all of my analysis, I tried to practice using the techniques I learned in Mr. Pip's videos and analyze the order flow of the chart. Even if my analysis of order flow is wrong, as long as I am getting practice I am learning.
Eventhough I planned to use today to back-test indicators and find a solid new plan, I did not have enough time. I ended up getting on my demo account really late in the day, and started to force myself to enter a trade. Destructive habits like this could lead into some massive issues when I eventually get into live trading. To combat this harmful attitude specifically, I will restrict myself to trading on certain parts of the day (for example session overlaps, news releases, and earlier in the day). Despite this mistake I still continued with my trading strategy. I calculated all the currency correlations for AUS/USD using the past weeks economic data, and set my indicators in place. After checking the overall trend of the most strongly correlated pairs (Positive: EUUSD, GPB/USD, Negative: USD/CAD, USD/JPY) I started to analyze the order flow. All the correlated currencies, except for EUUSD, indicated that the AUD/USD would fall, while my order flow analysis indicated the opposite. Seeing as though I am extremely new to order flow, I dismissed this analysis, and ended up forcing a trade on the AUD/USD going short when my indicators seemed to line up correctly. I learned from last time that I should not alter or close my trade purely based on emotion, and to just wait till the market hits my stop loss or take profit. I included a trailing stop loss of 60 pips this time, but I have no evidence to base that number range on. The trade is currently open and I am down about 30 pips.
Although I am not labeling this trade as a loser yet, I can definitely see a lot of holes in my trading strategy. The most obvious mistake in my eyes right now is my use of indicators. Currently all my trades are purely based on what my indicators say, and since I do not have any back-tested data to support the credibility of my indicators, it feels a lot like strategic gambling. Another issue is that I feel far too reliant on indicators alone. I think that if I can find ways to include various types of analysis efficiently and evenly in my trading plan I will become a much more skillful and well-rounded trader. In order to combat these two issues I will begin forming various types of trading strategies this weekend and back-test them all extensively. I also plan on researching more on price action, order flow, and Naked Forex.
Once again any and all feedback is welcome. I am just beginning Forex, but it had been a huge passion of mine and I don't plan on stopping anytime soon.
submitted by Aman-1127 to Forex [link] [comments]

Is this a strategy?

I just started out in FX this week after a 25% loss of my portfolio with stock options. I'm trying out forex and built out a strategy that relies on the Ichimoku clouds and I trade only for couple of minutes. So far I've recovered 5% of my loss but I might just have been lucky. I usually trade on EUR.USD.
My strategy so far goes like this. I follow the minute chart, enter a trade once a trend had been set (ie, price above or bellow the cloud), if the price changes trend on the minute chart by going bellow/above the cloud I close and take the loss, if the price continues to go in my direction I hold until I'm happy with the profit or nears a price resistance.
The disadvantages I see, it's slow, no big profits unless there's news and if there's big volatility I might endup going on loss. What I like about the strategy is that it makes me responsible, it enforces a stop loss for me that is not just based on gut feeling, also if a trend becomes strong, my stop goes higher and higher, thus securing profit.
What you guys think about it? is it stupid? is there a way to improve it?
submitted by CGeorges89 to Forex [link] [comments]

Noob here, can you confirm my strategy has any chance of winning?

I just started out in FX last week after a 25% loss of my portfolio with stock options I'm trying out forex and built out a strategy that relies on the Ichimoku clouds and I trade only for couple of minutes. So far I've recovered 5% of my loss but I might just have been lucky.
My strategy so far goes like this. I follow the minute chart, enter a trade once a trend had been set (ie, price above or bellow the cloud), if the price changes trend on the minute chart by going bellow/above the cloud I close and take the loss, if the price continues to go in my direction I hold until I'm happy with the profit or nears a price resistance.
The disadvantages I see, it's slow, no big profits unless there's news and if there's big volatility I might endup going on loss. What I like about the strategy is that it makes me responsible, it enforces a stop loss for me that is not just based on gut feeling, also if a trend becomes strong, my stop goes higher and higher, thus securing profit.
What you guys think about it? is it stupid? is there a way to improve it?
submitted by CGeorges89 to Forex [link] [comments]

Ichimoku Strategy Adjustment

I just started used gunbot and would like to use the Ichimoku strategy. Does anybody know how to adjust the buy or sell settings? For example the kumo buy setting is defined as: Enable this to buy when the last candle moves completely below Kumo. I would like to buy when the last candle moves above Kumo (just the other way around - which is in according with the common Ichimoku strategy: https://forextraininggroup.com/how-to-use-ichimoku-cloud-strategies-to-trade-forex/). I tried to change the config.js file, but the indicators are locked within a separate file. Besides I have tried to make an additional ichimoku indicator so I can use one as buy method and one as sell method, but that is not possible. Could someone please help with this matter? Thanks in advance!
submitted by allie55555 to gunbot [link] [comments]

How to get started in Forex - A comprehensive guide for newbies

Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey.

A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business.

LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY

I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct.

Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards.

Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism.

And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded.

The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I.

For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will.

LESSON 1 - LEARN THE BASICS

Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics.

You can access the BabyPips course by clicking this link: https://www.babypips.com/learn/forex

Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff.

If you still have questions about how forex works, please see the FREE RESOURCES links on the /Forex FAQ which can be found here: https://www.reddit.com/Forex/wiki/index

Quiz Time
Answer these questions truthfully to yourself:

-What is the difference between a market order, a stop order, and a limit order?
-How do you draw a support/resistance line? (Demonstrate it to yourself)
-What is the difference between MACD, RSI, and Stochastic indicators?
-What is fundamental analysis and how does it differ from technical analysis and price action trading?
-True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning.

If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again.

If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below.

LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX

This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom.

99.99999% of people posting about wanting to help you become rich in forex are LYING TO YOU.

Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY.

Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:


These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out.

Additionally, on the topic of fund managers - legitimate fund managers will be certified, licensed, and insured. Ask them for proof of those 3 things. What they typically look like are:

If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan.


LESSON 3 - UNDERSTAND YOUR RISK

Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong.

As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot. It's stupid and reckless and going to screw you very quickly.

Let's do some math here:

You put $2,000 into your trading account.
Risking 1% means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from.
Risking 3% means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown.
Risking 5% means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass.

Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk.

Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle.

200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit. If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again.

Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest.


LESSON 4 - THE 500 PIP DRAWDOWN RULE

This is a rule I created for myself and it's a great way to help protect your account from blowing.

Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan.

Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - Have enough funds in your account to cover a 500 pip drawdown on your largest open trade. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks.

So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50.

It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts.

Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding.

Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management.


LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES

Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well.

In a nutshell:

Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always.

With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences.

You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight.


LESSON 6 - TIMEFRAMES MATTER

Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example.

There is no right or wrong answer on what timeframe is best to trade on. Generally speaking however, there are 2 things to consider:


If you are a total newbie to forex, I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out.


LESSON 7 - AUTOBOTS...ROLL OUT!

Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it.

Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /Forex is not really the best place to get help with them. That is what /algotrading is useful for. However some of us that lurk on /Forex code EA's and will try to assist when we can.

Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces. You have been warned.

If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong.

If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted.

I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex.

One final note on EA's - don't buy them. Ever. Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody.

LESSON 8 - BRING ON THE HATERS

You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /Forex club.

If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality.

We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts.


YOU MADE IT, WELCOME TO FOREX!

If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you.

Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future:
If there is something else you feel should be included please drop a comment and I'll add it to the above list of pending topics.

Cheers,

Bob



submitted by wafflestation to Forex [link] [comments]

What tools do you have when playing with usd?

Been dabbling with some forex shit from time to time and looking for what you guys use. Any news, tips, tools, charts, and sources would be nice.
I have been playing with usd/jpy but a little to scared right now with the unpredictability due to the election.
Learn me something good my fellow degenerates. And as always, go fuck yourself.
Faglord Gaybutt
submitted by RTMidgetman to wallstreetbets [link] [comments]

Hello, new traders. Here are a few words from my four and a half years of experience.

Hey! I’m a full time currency and cryptocurrency trader, I need to point out a few major fallacies and misconceptions I frequently see in this community and others.
First up. If it’s your first year trading expect to fail. Actually, if there was a contract I could buy that’d pay me out if you ended up liquidating your account in the next 12 months, I’d literally bet on your failure. You need to immediately reduce your trading account to 1/10th of its original size for your first year of trading. Seriously, do it. You are betting that you can outperform billions of dollars of institutional order flow, typically with basic patterns or default setting indicators with no experience. Which brings me to my next point.
Your strategy is not your identity, stop treating what you use to trade as dogma. That indicator or pattern you’re using, can you tell me why it works? Not HOW to use it, but what fundamental paradigm it uses to accurately predict future price action. There are legitimate answers, but trying to use your indicators/patterns without understanding why is like driving across the country without knowing how to open or what’s inside the hood or your car. Sure, you’re going to get pretty far, but eventually it’ll break down and you won’t have a clue what to do, stranded and starving in the middle of the desert.
Chances are, while you were reading this you came up with one of three answers in your head as to why your indicatopattern works. Let me guess. “Everyone else uses it, it’s made me money so far, it’s natures law (for you Fibonacci folks,) or it’s a proven standard.” All of those are appeal to authority fallacies. For instance....
How does a compass work? Are the answers “well everybody else uses compasses” or “compasses are a proven standard” WHY a compass works? If you don’t know how a compass works and you’re lost, you aren’t going to know what variables will stop the compass from working. You might be in the Southern Hemisphere, that’d lead you in the exact opposite direction, but you wouldn’t know it because you DON’T KNOW WHY it works. Then die of starvation shortly after because you didn’t understand a tool paramount to your survival and couldn’t find your way back to civilization. If you’re lost in the ocean of institutional investors, AT LEAST understand why your tools work.
For instance, why does divergence work? You probably know that divergence represents a reversal.
Divergence doesn’t form because of “price” or “its losing momentum,” divergence forms because an oscillator defines a data set that expands and contracts based on the activity in the period lookback you define for it. When you have an expanding data set, it requires increasingly drastic moves to register the same “extreme” values. If you have a tight data set and you have a huge outlier, the data set widens to compensate with every candle close. So now that you have a wider data set, an equal move would register as a less extreme event as defined by the oscillator. That’s why divergence forms/works.
Seriously, it’s worth learning these things. Unless you can explain why something works like I just did with divergence you shouldn’t EVER use it in your arsenal. Then if you do take the time to learn the “why,” you’ll start realizing that a lot of the commonly accepted tools are fundamentally broken. For instance, with your new understanding of divergence, think about overbought or oversold signals. Why would a new outlier of a data set imply a return to the center of the data set if the data set is in an active state of expansion, CAUSED by the outlier?
Now if you’re relying on an appeal to authority fallacy for understanding, could it be that the authority that presented the information doesn’t have your best interest at heart? Breakout patterns for example. If you have a bull flag, and you’re betting on bullish trend continuation, I’ll take a wild guess about where you put your stop loss. Oh, below the bull flag? Large players know this and will scoop up your stops before pushing price up. How often have you said, “wow, I was right but I stopped out just before trend continuation!” The “golden standard” of technical analysis is only so to make the masses of retail traders a predictable herd of cattle.
Also, stay away from entirely subjective strategies that will always appear correct in hindsight. Oh, how many times have you redrawn that Elliot wave extension to match what happened instead of what you predicted? Don’t you dare bring up the Fibonacci to justify your subjective drawings either. Fibonacci doesn’t work because “it’s natures law” or the “golden rule,” it just happens to be very similar to the first standard deviation of any price move. So why are you using a static reading to predict a dynamic value that changes with every candle close?
For TA that actually works (if you use it correctly,) I can recommend ichimoku, though only on macro timeframes and requires a lot of reading to use properly.
Mark Whistler’s books on volatility are my biggest recommendation to learn. Any strategy using WAVE PM and 3D WAVE PM are ideal, treating price strictly as reactionary, multiperiod probability distributions gives an excellent “why” in the chaos of the markets. The compression and expansion cycles can be defined to the exact period on any timeframe with the right readings. I created a write up a while back going in depth on my findings on probability distributions here. https://www.reddit.com/Forex/comments/ah5bxo/lets_talk_about_the_basics_of_advanced_volatility/?utm_source=share&utm_medium=ios_app
I also created a google doc over the years and filled it with a few resources I’ve used to learn, I can hand it out if you dm me.
Finally, don’t forget to do your FA. Macro level economic indications are incredibly important for defining the long term alignment of expectations. However never trade the news, this is an important distinction. Don’t bet that the US dollar will go down because Trump made a stupid tweet, please. What you SHOULD do is measure the strength of the move and the EXPANSION caused by the FA and identify where the compression begins afterwards. For every period of expansion, there is a predictable compressionary range that follows that is equal to the expansion. For every action there’s an equal and opposite reaction. Instead of betting on the news, bet on the reaction after the news has cooled off.
That’s all that immediately comes to mind. Feel free to ask any questions.
submitted by FallacyDog to Forex [link] [comments]

r/Stocks Technicals Tuesday - Dec 25, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

r/Stocks Technicals Tuesday - Nov 27, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

WHAT’S THE BEST FOREX INDICATOR?

So you've begun forex exchanging and are amped up for how a lot of cash you're going to make, you should simply stall out in. In any case, when would it be advisable for you to exchange? Where would it be a good idea for you to enter? Which money sets would it be advisable for you to take a gander at?

Envision if there was an answer that let you know precisely when to enter an exchange!
New kid on the block dealer, meet Mr. Marker. Disregard those senseless climbing ashy candles, that poo is simply excessively mind boggling.
What on earth is a bullish overwhelming flame development at any rate? I'm a new kid on the block, I don't have a clue, or care, I simply need to make cash damn it! Demonstrate to me the most straightforward approach to make cash at the present time!
Sound commonplace?
These mystical pointers will guide you. Like a Magic 8-ball. They'll demonstrate to you the route to the heavenly place that is known for forex magnificence, where the avenues are cleared in green pips, and everybody you meet gives you a bar of bullion, since you merit it.
It helps me to remember my most loved Guns n Roses track "Bring me down to the heaven city where the pips are green and the diagrams are beautiful, goodness won't you please take me home, hold up ouw"
In this way, what precisely is a MACD, CCI, ATR, RSI or a ridiculous Stochastic!
They all solid so logical; without a doubt they should be great?
All things considered, I'm sorry to learn your air pocket… yet this is simply one more approach to peruse value developments in the market (a few brokers like to call this value activity). A marker is parcel more like salt and pepper than Colonel Sanders 12 mystery herbs and flavors.
On the off chance that you just learn one thing today, make it this: As merchants, we just approach a constrained measure of data.
These are the main two things we know without a doubt:
What cost is presently?
What cost was 1min, 5mins, 15mins, 1hr (you get the thought) prior
That is it.
All markers are doing is demonstrating to you this data in an alternate organization.
Presently, for all the pointer fans out there, you'll be satisfied to know it's not all foolishness. Pointers are intended to indicate past examples in the market that probably won't be anything but difficult to see with the stripped eye. What's more, the hypothesis goes, in the event that you can distinguish an example from an earlier time, at that point you'll have the capacity to anticipate what's to come. In any case, that is a discussion for one more day.
Will forex dealers foresee what's to come? That is an incredible theme for my next blog entry… hold tight, let me record that…
Alright, I'm back. Presently, the current theme – Which pointer would it be advisable for you to utilize?
Whichever one you need.
Apologies, I realize that is most likely a bit of disappointing…
All it's doing is demonstrating to you what you definitely know (present and past market cost) in an alternate visual configuration. So discover a pointer you see, at that point stay with it.
My solitary suggestion is to abstain from running different pointers without a moment's delay since you'll likely befuddle yourself.
Picture result for MT4 window with pointers
It would appear that it's a great opportunity to purchase, sell, hold and turn.
By and by, I like to exchange bare. That is correct, starker's.
Why?
You will probably discover once you watch the graphs for a considerable length of time, you won't require the spiritualist Ichimoku Cloud to furnish you with a climate figure. You'll have the capacity to gaze toward the sky and tell for yourself whether you'll require an umbrella for the session ahead.
Contact: https://hawksfx.com, +44 208 638 8973.
Head Office
Kemp House, 152 - 160 City Road, London EC1V 2NX United Kingdom
Asian Branch
19/1, Sri Sumanarama Road,
Mount Lavinia, Sri Lanka
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r/Stocks Technicals Tuesday - Dec 11, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

r/Stocks Technicals Tuesday - Dec 04, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

Zenbot Error

Hi!
Im new using zenbot 4.1, and after I finished npm install in a Virtual Machine (Ubuntu 16.04) it gave me the following err:
npm ERR! path /root/zenbot/node_modules/forex.analytics
npm ERR! code EISGIT
npm ERR! git /root/zenbot/node_modules/forex.analytics: Appears to be a git repo or submodule.
npm ERR! git /root/zenbot/node_modules/forex.analytics
npm ERR! git Refusing to remove it. Update manually,
npm ERR! git or move it out of the way first.
npm ERR! A complete log of this run can be found in:
npm ERR! /root/.npm/_logs/2018-08-10T15_31_46_516Z-debug.log
I still run a paper test and it worked perfectly. (with conf-sample.js file), after that I set up the conf.js file only modifaying the selector = binance.BTC-USDT and the strategy = null (so i could select strategy on sim) the rest I left the same.
After I backfill 30days of binance BTC-USDT selector i started simulating the strategy list and 2 things hapend, for most of the strategies it work out perfectly but for this specific strategies:
Throw out this erros
[email protected]:~/zenbot# ./zenbot.sh sim --silent --strategy ichimoku_score
/root/zenbot/node_modules/timebucket/lib/bucket-size.js:15
if (!match) throw new Error('invalid bucket size spec: ' + spec);
^
Error: invalid bucket size spec: undefined
at BucketSize.parse (/root/zenbot/node_modules/timebucket/lib/bucket-size.js:15:21)
at new BucketSize (/root/zenbot/node_modules/timebucket/lib/bucket-size.js:5:21)
at Bucket.resize (/root/zenbot/node_modules/timebucket/lib/bucket.js:30:14)
at Command. (/root/zenbot/commands/sim.js:98:49)
at Command.listener (/root/zenbot/node_modules/commandeindex.js:315:8)
at emitTwo (events.js:126:13)
at Command.emit (events.js:214:7)
at Command.parseArgs (/root/zenbot/node_modules/commandeindex.js:651:12)
at Command.parse (/root/zenbot/node_modules/commandeindex.js:474:21)
at /root/zenbot/zenbot.js:46:13
In this post https://www.reddit.com/zenbot/comments/83q3ai/looking_for_a_set_price_strategy_or_help/ he solves it by changing the default period time.
I did it manually like this
[email protected]:~/zenbot# ./zenbot.sh sim --silent --strategy Ichimoku_Score --period 60
/root/zenbot/node_modules/timebucket/lib/bucket-size.js:15
if (!match) throw new Error('invalid bucket size spec: ' + spec);
^
Error: invalid bucket size spec: 60
at BucketSize.parse (/root/zenbot/node_modules/timebucket/lib/bucket-size.js:15:21)
at new BucketSize (/root/zenbot/node_modules/timebucket/lib/bucket-size.js:5:21)
at Bucket.resize (/root/zenbot/node_modules/timebucket/lib/bucket.js:30:14)
at Command. (/root/zenbot/commands/sim.js:98:49)
at Command.listener (/root/zenbot/node_modules/commandeindex.js:315:8)
at emitTwo (events.js:126:13)
at Command.emit (events.js:214:7)
at Command.parseArgs (/root/zenbot/node_modules/commandeindex.js:651:12)
at Command.parse (/root/zenbot/node_modules/commandeindex.js:474:21)
at /root/zenbot/zenbot.js:46:13
Can some one help me with this?
thanks
submitted by suiblood to zenbot [link] [comments]

r/Stocks Technicals Tuesday - Dec 18, 2018

Feel free to talk about technical analysis here (not argue against it), but before you ask any question make sure you see the following information:
Technical analysis (TA) uses historical price movements, real time data, indicators based on math and/or statistics, and charts; all of which help measure the trajectory of a security. TA can also be used to interpret the actions of other market participants and predict their actions:
Measure: Is the security's price trending, has it dipped or is it a falling knife? Interpret: Does the current price mean investors think it's undervalued or overvalued; when did they buy/sell more and why? Predict: If price reaches a certain point, will there be a rally or get rejected?
The main benefit to TA is that everything shows up in the price (commonly known as priced in): All news, investor sentiment, and changes to fundamentals are reflected in a security's price.
TA is best used for short term trading, but can also be used for long term.
Intro to technical analysis by Stockcharts chartschool and their article on candlesticks
Terminology
Useful indicators
Methods or Systems
Strategies: See the TA wiki here as this will be a work in progress, feel free to reply with your own strategy.
See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.
submitted by AutoModerator to stocks [link] [comments]

How many years have you traded? What are the most important things you've learned? What is your weak point right now?

I started trading the beginning of 2012, and I had no freaking idea about the enormity of the FOREX arena, strategies, and general culture. At that time I was almost solely demo trading on a mobile app with about 7 indicators, anytime something crossed I would enter a position and I had no idea as to why anything was doing what the hell it was doing. You get the picture.
Now, however its mostly a different story. Yes I now use PA/TA coupled with FA. I'm reading Soros "Alchemy of finance" ($o Brilliant), I watch for s/d zones, and try to understand harmonics..try. I stil trade mobile, and still make a shit ton of mistakes, but honestly I dont mindx its learning.
So what Ive learned is:
1.) Know your entry and exit points of EVERY trade, so keep emotions in check for this, for me personally.
2.) Understand why price reacts to s/d zones the way it does and what it implies for future movemen.
3.) I love the Ichimoku.
4.) PA aligning with TA and FA is just an immediate trigger now.
5.) Dont follow too many pairs if you cant analyze them all with utmost scrutiny. I follow one or two for months at a time now. (mostly because of mobile limitations and schedule)
6.) News is great/terrible so act accordingly.
7.) FIBONAC(c)I
Now what Im struggling with is:
1.) Stop losses, I havent truly set up a finesse to using them and I generally never use them.. but im on EU and EJ fwiw.
2.) Money management or essentially over levaraging and margin calls after 200 pip moves.
3.) Drinking and trading... I wake up to both good and bad decisions, but generally bad ones on an exotic pair I have no understanding of.
4.) Thinking I can outsmart the market and that I know something others arent seeing and the market will immediately go exactly as I imagine (Id peg this to emotional and stubborn bias)
And well, thats all I can spit onto my phone right now, but I know there are plenty of mistakes I make that Im forgetting..
This forum has been a great resource, and like most of you I enjoy browsing it very much. Im curious to see where other people are at.
submitted by Pachanoi_compadre to Forex [link] [comments]

Ichimoku: The Best Technical Indicator in the World - YouTube Best Forex Scalping strategy - Hit&Run with Ichimoku ... Ichimoku SecretsHow to Use Ichimoku Kinko Hyo in Forex ... Ichimoku Cloud Settings for Tradingview - YouTube Why Do I Always Use Ichimoku? - Forex Trading ... Ichimoku Cloud Settings - Ichimoku Setup the Proper Way ... Advanced Ichimoku Trading Strategy for Forex Trading ...

Ichimoku is my favorite indicator to use, as it allows me to have one indicator show me the past, the present and the future in one go. The ichimoku kinko hyo lets you get an incredible edge in determing the best moments to enter or exit the market. For that reason it is in your best interest to setup your tradingview account with visually pleasing settings in order to make better decission in ... Basic Ichimoku settings for Tenkan-sen is 9, Kyun-sen is 26, and Senkou Span B is 52 is several percents better in testing than Ichimoku settings 7 22 44 (Tenkan-sen is 7, Kyun-sen is 22, and Senkou Span B is 44 ). We tested these two most commonly used settings, on the Daily chart, for the last 20 years time frame. Major pairs EURJPY, GBPJPY, AUDJPY, USDJPY, NZDJPY were used. Ichimoku Kinko Hyo ist ein in Japan entwickeltes komplettes Indikator-System mit Aussagen zu Trendrichtung und Trendstärke, Unterstützung und Widerstand sowie Kauf- und Verkaufssignalen. Der ... The most popular Forex trading platforms use the Ichimoku Cloud indicator. The Ichimoku indicator paints all the components needed to help visualize the price action better. The Ichimoku cloud is one of the most comprehensive technical indicators in modern use. Unsurprisingly, it has quickly become the "go-to" indicator for forex traders around the world. In the Ichimoku cloud section, we are ... My head is in the Ichimoku cloud, dreaming about the future of the romantic candles dancing at a Euro-American forex party. I look back and see the blue Chiko span following me. Then I look up, and I see the thick, pink Kijun line and the thin black Tenkan line dancing delightfully above me like danglers. I dream about the new set of earrings that I’m going to buy with my newly earned pips. The basic Ichimoku settings for Tenkan-sen is 9, Kyun-sen is 26, and Senkou Span B is 52. But, How to use Ichimoku Cloud in Forex? Ichimoku cloud we can use in trading as a trigger for buy and sell signals. Buy signal is presented when default red Tenkan Sen line crosses above the default blue Kijun sen line and both lines along with the price ... Ichimoku Kinko Hyo (IKH) is an indicator that gauges future price momentum and determines future areas of support and resistance.. Now that’s 3-in-1 for y’all! Also, know that this indicator is mainly used on JPY pairs. To add to your Japanese vocab, the word ichimoku translates to “a glance”, kinko means “equilibrium”, while hyo is Japanese for “chart.” Ichimoku Cloud Settings. The process for setting up the Ichimoku Cloud on a chart will typically depend on the platform that you’re using. For instance, if you’re using Finamark, then it’s a simple matter of clicking the Indicator Options icon in the top-middle of your charts. Select your collection on the left, then click Ichimoku in the available indicators column in the middle. This ... I will cover in detail how the Ichimoku Kinko Hyo mt4 works and what the Ichimoku trading system. I will also write about the best Ichimoku Kinko Hyo settings. You will learn how to read Ichimoku signals and how to trade Ichimoku cloud. And finally, I will explain the Japanese candlestick signals in the Forex Ichimoku trading system. The basic settings which can be found here (Ichimoku Cloud Settings for Tradingview) are definitely enough to get you started. However, I soon found out that there were too many limitations and not enough customization options with the basic ichimoku cloud indicator. So without further ado, let’s begin with the crypto ichimoku cloud settings using pine script: Tradingview Ichimoku Settings ...

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Ichimoku: The Best Technical Indicator in the World - YouTube

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