maxron
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« on: September 08, 2007, 07:44:41 AM » |
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This is my first post though I have been following the forum for quite a while. I do not trade the Forex markets but instead trade stocks. I have used the Ichimoku analysis and am quite pleased with the results I see with one exception. The take profit points as defined by the various strategies (Tenkan cross, etc.) are too late. I am wondering if anyone trading stocks out there has a better take profit strategy. Thanks!
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FF_Goal
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« Reply #1 on: September 08, 2007, 08:38:21 AM » |
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Hi maxron
Personally, I find that if you manage to enter a stock which has just exhibited a kumo breakout, a good take profit signal will be the price crossing the tenkan line to the down side.
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Bazzra
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« Reply #2 on: September 10, 2007, 07:02:08 PM » |
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Hi Maxron
I mentioned a similar problem in an earlier post. I guess we have all tried a variety of stops and it has got to be a suck and see method with whatever you are most comfortable with. On a longer timescale trend then the Tencan cross will give good profits, but you may, or will, loose some at the top of the curve.
What timescale do you trade? Shorter trades on stocks may mean a percentage gain at say 1%, or 3% etc or a following stop loss at 10%.
It is very annoying to get kicked out at 10% and then your trend continues its merry way.
15% stop. I usually use 15%, but on Easy jet I let it run thinking it would turn soon. Well I was right, cos it turned at 25% just as I bailed out. Loads of profit gone, so I do think a set piece is best and stick to it.
Ichimoku does give you the stop, but as you say it is sometimes a bit late. Greedy, no I think we just want to maximise.
Regards
Bazzra
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rwillmer
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« Reply #3 on: September 15, 2007, 08:46:14 AM » |
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Interesting post - this question of when to exit is what I'm thinking about at the moment.
I'm just about to start trying out Ichimoku (once I've figured this out), using the cloud breakout as an entry signal. From looking at my recent trades, this would almost always have got me into the trade at a better point, and kept me out of a couple of trades I shouldn't have got in... So I'm confident about the entry...
But when to exit? It does look to me that waiting until the price hit the far side of the cloud would result in a profitable position turning into a loss, which I wouldn't like :-)
My current thought is to continue to use my current stop, which is a volatility stop of 6*ATR.
We'll see, still thinking about it ...
Rachel
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rwillmer
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« Reply #4 on: September 15, 2007, 09:51:37 AM » |
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"would result in a loss" - I should have said "would *often* have resulted in a loss"
Rachel
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kingie_d
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« Reply #5 on: April 24, 2008, 03:43:30 AM » |
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I've only just started with the Ichimoku but I think a good stop would be when the price goes below the kijun sen (whether it closes below or just dips below) to place an auto stop loss just below that low. If it carrys on after that in your direction then all good, otherwise you protect a decent amount of profit.
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KijunSen
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« Reply #6 on: November 18, 2008, 01:30:52 AM » |
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Hi all !
I am think that we need filter by momentum indicators, as RSI to take profits.
First, I determine trend by TenkanSen/KijunSen cross and confirm by ChikouSpan. Then, I consider momentum of trend to exit.
Tks !
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No trend No trade
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sunman4008
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« Reply #7 on: November 24, 2008, 08:20:49 PM » |
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Hello,
With Ichimoku, you really don't need another indicator at all. A lot of people add RSI, CCI, etc but it is not necessary. My stops are either Tenkan/Kijun Sen with a buffer. This turns out to be a nice trailing stop.
-Manesh
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