Since this is the first "KS Method" trade this week, I thought that it would be helpful to go through the elements of the trading checklist and see why we do each of them. The KS Method is easy at face value but it has so much in it so just learning and applying it will do so much for your results.
Please do not trade with me this week for the pips. We can do better using all of the PanOptic Method. Trade with me to get a hands on feel of why and how I do this.
Good luck
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This chart is also a trade. However, please only use a small lot size as the objective is to learn not to make money here. If I were to trade this using the PanOptic Method (complete), I would change some things but nothing major....
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How would I change this trade if I was trading the PanOptic Method: 1. I would sell in sell zone 3 2. I would choose a level 1 signal to enter 3. I would minimize my risk by having my stop above the high just before the sell Otherwise, the trade would be the same. So you can see that the KS Method is the basis on which you build the trade only with a few more optimizations here and there
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Breaking the last period lows at the beginning of any session and then reversing in the other direction is a sign of possible grave danger and must always be considered as it could be a bear trap. We must now be very vigilant as to the developments of our trade...
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The 7th step in our process is to repeat the cycle again. So you must check your trade and update your understanding of the environment. The last comment was discovered while doing the 6th step
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No action is currently required...
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Heading towards KS. You should have your order (a small one please) exactly at KS..
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Be careful .. we have just hit the dynamic KS. This is not where we will take our order. We will take it at the static KS
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Still waiting for the entry...
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Once we reach KS, expect that we will go above it. So be prepared for that please..
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The situation is becoming a bit complex. After 1 single candle, a break of today's high will turn the KS to bullish. So how will we handle these developments... Please do share your ideas ...
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My order is triggered..
Order cancelled
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Please be aware that all my orders are no longer active. So please manage your orders accordingly Thanks
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We will continue this week of KS Method trading once I get settled. I'll inform you.
NOTE: Starting the 1st of August, I will only publish private charts. You can only access them from my twitter account (@PanOptic_Method) and my blog (still in development). I am also trying to figure out how to work Facebook (facebook.com/Ichimoku.PanOptic/).
The Fed's Meeting /FOMC will be held on 26/27 July ( Critical news) . Theres higher chance that they'll not raise the interest rate, and it will affect all USD pairs. So take care guys.
nheadmaster
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In step 4 how we decide what would be best for us? Based on the previous high? What if the price touches the dynamic KS and then drops?
Ichimoku_Trader
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1. When we trade we sometimes lose. That's ok as long as we are aware of the limits of our losses and how we can manage them
2. Every time we design our KS trade, we refer to the previous period. The secrets of strength or weakness lie there. Below is a slide that teaches you how to evaluate that.
3. When I originally designed the "KS Method", I did not have a static KS value. So I was always working with the dynamic KS value and it was fine. The static value is an optimization tool. So as a rule of thumb, always try to use the static value UNLESS the market is too strong to return to it
narcalen
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Thank you, Dynamic Ks is the position of Ks at the current candle i'snt?, If yes why in setp 4 says Static ks?
Ichimoku_Trader
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We are trading tomorrow...
Currently we are at the market close. That is the location of the static KS
The dynamic KS (tomorrow's) starts at the market open
narcalen
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Of course, thanks
Ichimoku_Trader
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;)
btM_Afta
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Thank you my friend, awesome job !
This is also a trade or just educational? ..