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Trading with Ichimoku Clouds
The Essential Guide to Ichimoku Kinko Hyo Technical Analysis
Manesh Patel (Author)
9780470609934, Wiley
Hardback, published 13 July 2010
240 pages, Tables: 36 B&W, 0 Color; Exhibits: 221 B&W, 0 Color
23.2 x 16.4 x 2.3 cm, 0.417 kg
The essential guide to today's hottest technical indicator-the Ichimoku Kinko Hyo cloud chart Ichimoku Kinko Hyo is a technical system that illustrates support and resistance values in a simplified form and is considered an extension of the very popular candlestick charting system. In fact, the system was built on the idea that at "one glance" you should be able to determine whether an instrument is in equilibrium (consolidation) or out of equilibrium (trending). Written in a straightforward and accessible style, Trading with Ichimoku Clouds offers a solid foundation in this discipline as well as its technical strategies. It shows you how to create and implement a trading plan based on this approach that can easily be tailored to your trading style. Filled with in-depth insights and expert advice, Trading with Ichimoku Clouds will help you implement a proven strategy designed to capture trends that maximize profits and minimize losses. Furthermore, the user will be taken step by step through the entire decision-making process of trading an instrument for two years (back test).
Introduction ix Background ix Components of a Trading System xv Chapter 1 Ichimoku Components 1 Tenkan Sen 4 Kijun Sen 10 Chikou Span 19 Kumo Cloud Components 25 Senkou Span A 27 Senkou Span B 28 Kumo Cloud 30 Chapter 2 Ichimoku Trading Plan 41 Components 41 Strategy Description 42 Chapter 3 Ichimoku Backtesting 45 Backtesting 45 EURUSD—A Two-Year Backtest 46 Summary—Two Years of Backtesting 134 Chapter 4 Post-Analysis 137 Examining the Backtest Results 137 Optimize Trading Plan 144 Chapter 5 Ichimoku Strategies 149 Ideal Ichimoku Strategy 150 Chapter 6 Ichimoku Time Elements 161 Ichimoku Time Elements 161 Chapter 7 Applied Trader Psychology/ Doug Laughlin 171 Is It as Easy as Just Being Taught a New System? 172 The Problem We Have with Getting in Our Own Way 172 Is There a Conspiracy Against the Small Trader? 173 Traders Myth—Smart People Make the Best Traders 174 Losing Trades Are Acceptable 175 A Successful System Will Fortify Your Convictions 176 Self-Sabotage and How It Applies to Your Trading 178 In Summary—Trader Psychology Overall 179 Chapter 8 Day Trading with Ichimoku 181 Consequences of Trading without a Trading Plan 184 Trading Plan 185 Backtesting 186 Conclusion 192 Chapter 9 Conclusion 193 Ichimoku Analysis Sheet 195 Bibliography 199 About the Author 201 Index 203
Subject Areas: Finance & accounting [KF]
