New ichi – new way to beat the forex (New ichi – new way to beat the forex)
I'm Tom, from Vietnam. I've been working in the Forex market for 3 years and learned many trading methods: Harmonic, Wolff, Elliott... Used many types of indicators, but I couldn't improve my trading results. But now, I'm starting to discover that simplicity is everything, so I start with the basics.
No headache because we don’t have MA, Stoch, RSI, Fibonacci…. It's just a cloud
The system works on some major currency pairs such as: EU, GU, UF, UCAD, NZDUSD
I have been trading with this system for several months and am getting better results than before
I only trade based on the 4 hour chart - to eliminate market "noise"
Actually, when we start placing an order, we need to define three things:
• Trend (up or down)
•Enter-Exit-Stop •Money managementMore details:
1. Trend: There are three situations: rising, falling, and sideways.
In my trading system, I capture trends via the cloud.
• Uptrend when price is above cloud and cloud color is blue → long only • Downtrend when price is below cloud and cloud is red Short term only • Sideways when price is above cloud, no matter what color No trade
2.In-out-stop
a) Entries
I Price Action via Candlesticks – PA – Entry I wait for the bounce back to the cloud and look for some pattern in the candlesticks, for example:
• Bullish – Bearish Engulfing • Shooting Star • Hanging Man • Hammer • Inverted Hammer • Morning – Evening Doji Then I enter the market
b) Stop:
I set my stop loss above or below the high or low of the entry candle
c) To exit I usually trade 2 lots, I close 1 lot at risk – reward 1:1 (including spread) and then let 1 lot run until it hits the blue line of Ichimoku
3. Fund management:
Of course, never risk more than 2% of your account on each trade, otherwise you will die soon
To know more about Xinyi, please read this article http://codebase.mql4.com/1467
Let me give some examples:
No headache because we don’t have MA, Stoch, RSI, Fibonacci…. It's just a cloud
The system works on some major currency pairs such as: EU, GU, UF, UCAD, NZDUSD
I have been trading with this system for several months and am getting better results than before
I only trade based on the 4 hour chart - to eliminate market "noise"
Actually, when we start placing an order, we need to define three things:
• Trend (up or down)
•Enter-Exit-Stop •Money managementMore details:
1. Trend: There are three situations: rising, falling, and sideways.
In my trading system, I capture trends via the cloud.
• Uptrend when price is above cloud and cloud color is blue → long only • Downtrend when price is below cloud and cloud is red Short term only • Sideways when price is above cloud, no matter what color No trade
2.In-out-stop
a) Entries
I Price Action via Candlesticks – PA – Entry I wait for the bounce back to the cloud and look for some pattern in the candlesticks, for example:
• Bullish – Bearish Engulfing • Shooting Star • Hanging Man • Hammer • Inverted Hammer • Morning – Evening Doji Then I enter the market
b) Stop:
I set my stop loss above or below the high or low of the entry candle
c) To exit I usually trade 2 lots, I close 1 lot at risk – reward 1:1 (including spread) and then let 1 lot run until it hits the blue line of Ichimoku
3. Fund management:
Of course, never risk more than 2% of your account on each trade, otherwise you will die soon
To know more about Xinyi, please read this article http://codebase.mql4.com/1467
Let me give some examples:
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