My open trade (150+ pip, indicated by blue arrow (buy order)
I think I’m inlove with businesses. Once I see an opportunity, I always wanted to pursue it. But like all busy people, time is the major problem. The most exciting part in doing business is the first few years of it. Its the most exciting where a lot of problems happening and problem solving is a thrill rush. But when I have an idea for a new business, I always do a check to my long term goal. After a few years, 20 or so, I want to retire. Or make money / trade anywhere / anytime and the only business that I can think of that fits the criteria is forex trading.
When I think of food business. I think of customer service (which I hate). Then think of forex where customer service is not present.
Forex trading is the best business model in my opinion and my long term goal should be (logically) go this way. Studying and learning more about forex and testing strategies should be mandatory if I want to be profitable in this trade.
What do you think? Do you think forex trading is the best business model?
There are lots of ways to trade forex. And I have tried most of the indicators out there. Some of them work, some of them don’t. Some did work, but I’m not particularly comfortable using. And thru the years, I came to settle down with candlesticks and ichimoku.
Ichimoku or short for Ichimoku Kinko Hyo is a japanese indicator that tries to complement where the candlesticks left of. When using candlesticks, it tells us the story what happened during the trading day, but there’s something lacking when you look at the charts as a whole. Where are the support? Where are the resistances? Where is the trend going? Is it going strong or weak? What is the future of the trend? Ichimoku as its name implies, is a “one glance” indicator. When looking at it once, you’ll immediately know where are the important levels are.
In ichimoku, you will know where the resistance and support are. The Japanese who made the indicator believed that support and resistances are not flat lines. They vary wherever the price goes. It can be strong or weak, as indicated by a big or small cloud. And with ichimoku, you’ll also have an idea of the “future” with its future kumo cloud.
If all these things sounds confusing to you at first, bear with me. During the course of the following weeks, I’ll teach you how you could harness the power of this great indicator and hopefully share to you my knowledge on how to use them. You will know why I started to love this indicator.
So without further ado, I welcome you to the “How to Trade Forex with Ichimoku” series.