Trading with Ichimoku Clouds: The Essential Guide to Ichimoku Kinko Hyo Technical Analysis

Chapter 8. Day Trading with Ichimoku

This chapter is probably the "deadliest" chapter. Most people will probably skip straight to this chapter and start to use it in a live account right away. Today, day trading is associated with "quick cash." People may hear success stories of how someone took $5,000 and turned it into $1.2 million in one year. Through the concept of margin, people now have the chance to "go to the moon" or sink to the "ocean floor" in a short amount of time.

Before I begin this chapter, let me go through a story of one of my ex-Ichimoku students. Back in 2006, I was teaching an Ichimoku class in Atlanta, Georgia. I had an enthusiastic student who guaranteed me that he would be the best Ichimoku student I ever had. He was an engineer who was eager to leave his "job." The job was demanding many hours with little pay.

Most people who have a "job" can relate to how this student was feeling. This is a typical scenario for an employee in the corporate world. A corporation's mission statement typically is "work more and pay less." This generates more revenue and keep costs drastically down so profits are great. I lived it for 16 years in the corporate world of telecommunications. The majority of people who are employed get to age 65 and realize that they have nothing because the inflation rate was increasing at a higher rate than their money market savings account. If you do not believe me, look back in history. Back in 1970, one parent's income was sufficient for the ...