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| PDF Title : | How To Make Money Trading The ICHIMOKU System |
|---|---|
| Total Page : | 310 Pages |
| Author: | Balkrishna M. Sadekar |
| PDF Size : | 13.3 MB |
| Language : | English |
| Rights : | profitablecandlestickcharting.com |
| PDF Link : | Available |
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How To Make Money Trading The ICHIMOKU System – Book
The Ichimoku components were all aligned at the point of entry. While the price was a little distant from the Tenkan and Kijun, but notice in Figure 5.13 that the Tenkan would be moving up every day for the next 9 days as the 9-period lows keep moving higher. Another alternative entry point would have been on 20 March as the price broke above the 9-period high again. This time, the Kijun was moving up as well which provided added confidence in the trade.
This chart highlights perfectly why one needs to take profits on a continuous basis as the price moves in the anticipated direction. After hitting a peak at ₹ 222, the price fell to around ` 170, where the trade would have stopped out. That is a lot of profit wasted. It is imperative to follow good money management techniques to capture profits on a regular basis. Only the final portion of the position should be the one to get stopped out below the Kijun if the trade has run in your favor.