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Trading with Ichimoku Clouds: The Essential Guide to Ichimoku Kinko Hyo Technical Analysis (Wiley Trading) Reviewed

Firstly, I have been a day trader for a living since the mid 1990’s. Focusing mostly on stocks and then venturing into currencies and futures around 2002. I am basically a technical analysis day trader. Maybe 2-3 day holder at the most. For a while now I have been looking for new systems to help as my technical analysis has been off the mark this year. I use candlestick trading as well but was turned on to ichimoku by a friend in the industry who actually referred me to this book. My goal for this book was to learn something new that I can use to make me more money.

Now let’s go into the book. The author takes you by his side and to his desk to teach you what Ichimoku is. What are the indicators it uses. And how to take those indicators to develop a trading strategy. I felt the author did a great job in teaching me what the indicators are. As well as how to use the different indicators to develop my own trading strategy. I liked his style and what really got my attention is how the author injects mistakes into the book and dares you to catch them. Once I saw that I really started to pay attention and that in turn helped me learn something without reading it 4 or 5 times.

The biggest negative in the book which seems to be consensus is that the charts within the book are small and black and white and you can’t see them. However the author has already remedied that by illustrating the same charts in color on his website, and readers should go there. In addition the author also responds to emails that I have sent him with questions in a timely manner. Kudos to the author for sticking around and helping his clientele.

As far as choosing Tradestation to deliver his visual I think some of the comments I’ve seen are kind of silly. The author had to choose a platform to visualize the system. Ichimoku is available on Tradestation, Think or Swim, MT4, E-Signal, ninjatrader, [...], and probably more. As far as back testing goes, you can back test on more platforms than Tradestation. If you do not know which ones then write the author, I am sure he will respond.

Also the author pretty much sticks to currencies in his examples. I would have liked to have seen some stock charts and commodity charts as well. I will be fair to the author here, a chart is a chart and a setup is a setup. If I like Kijun Sen price crosses they will be the same look on a chart whether you are trading corn futures, EURUSD, Microsoft, S&P futures, or even the infamous British Petroleum.

Final analysis is yes I learned something. I feel like I can build a strategy using Ichimoku from reading this book. The author has been there to help me with any deficiencies in the book. Will this book help me make more money trading????? Let u know in a year….Good Luck….

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Trading with Ichimoku Clouds: The Essential Guide to Ichimoku Kinko Hyo Technical Analysis (Wiley Trading) Feature Guide

• ISBN13: 9780470609934
• Condition: New
• Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed

Trading with Ichimoku Clouds: The Essential Guide to Ichimoku Kinko Hyo Technical Analysis (Wiley Trading) Overview

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.

• First available U.S. publication on this hot trading trend
• Reveals how Ichimoku Clouds work in both bullish and bearish markets
• Highlights how these strategies can easily be adopted for stocks, futures, bonds, and other vehicles
• Works with all timeframes and all tradable instruments

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).

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Best Buy Trading with Ichimoku Clouds: The Essential Guide to Ichimoku Kinko Hyo Technical Analysis (Wiley Trading) :Customer Reviews

PATEL’S ICHIMOKU is the Cumulonimbus!!!!!!! – WisdomCup –
Through extensive research for the Ichimoku Kinko Hyo Indicator I found Trading with the Ichimoku Clouds by: Manesh Patel to be the best replica of the original indicator usage. This is the reason I called it the Cumulonimbus. It gives you the complete picture, hopefully creating a spark of electricity within your trading strategy.

Often, I have observed a number of approaches to use the indicator. Some individuals choose to disregard the Chikou Span due to their opinion of its relevance. Others take the indicator and change the parameters assuming there is a need, due to the different markets (then and now). Mr. Patel did neither!

I appreciate the direction this book took. It gave me the necessary components to eventually look at any chart with this indicator present and predict what is needed to make it a profitable trade. Not to mention the traders psychology!

It would have been nice for the pictures to be bigger and in color. However, his sites provide the necessary insight to balance the book’s micro-images. Also, I utilize ThinkorSwim to back test instead of Tradestation, it’s free!

All and all, the book was one of the better books I have read on any indicator. I always here and read the trend is your friend. This indicator has given me the tools to comfortably approach the markets with an understanding of where the instrument has come and where it is assumingly going.

nothing new and without trade-station not worth it – Arjun – California
I was disappointed to find nothing really new in this book. Although the author does a solid job to explain the basic components of the indicator, there is no new insight and methods on how to use the Ichimoku other than what one could find on the net.

As a commodities and equities day trader, I felt a little misled as this book focuses mostly on currencies and without tradestation (something I do not have) I cannot comprehend what he is talking about because the charts are poor and with the ichimoku and all its components, you cannot read a thing in the charts!

surely disappointed from this book

Not for all markets! (Read me) – Isiah T. Payne –
I purchased this book at the premium price listed thinking it was going to be something I could implement right away in my futures trading since the author and information available on the net suggested it could be used over all markets. This author has extensive examples only TRADING CURRENCIES! There are a few charts of the SPX and other futures.. but no example of the strategy he lists. He also stresses back testing which is ideal.. but only if you have a tool like Trade station. The highlights: Good explanation of the different parts of Ichimoku. Good chapter on trader psychology.

The main body of the book goes through this extensive example again without Trade station you can not follow. I’m convinced the other reviews must be plants.. because it is misleading to not include this very relevant requirement.

Almost forgot YOU MUST be in front of your computer to read this book as the charts are in black and white and very small so you have to go to the authors website to view them in order to even try and follow along. And the most disappointing thing is when he gets to the sliver of information on how to use the clouds to daytrade.. the example in the book and on the website are in black and white and very confusing to follow.

I’m sorry Mr. Patel, but I do not recommend this book without video support for the extensive examples you give.. maybe youtube videos or something to help cement the concept.

Overall this book is not going to deliver to anyone who doesn’t have Trade station and who doesn’t trade currencies. It left me extremely disappointed and contemplating asking for a refund.

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*** Product Information and Prices Stored: Jul 31, 2010 17:15:03

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