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I have been a regular to babypips from quiet some time and have learnt a great deal from all of you.
I have been trading currencies for past 4 years. It has been a very rewarding experience for me emotionally as well as financially.
I would like to share with you all, a great trading system I have been using.
Kinko Hyo has always been a great visual guide to the market for the traders.I shall not go into the great details of ichimoku. You can use IchiWiki to see how the ichimoku is constructed. Here, I try to explain the system I have been using with great success for past 2 years.
Success in trading comes to those, who are patient and wait for the right price at the right time to enter a position.The trading system, am explaing here requires you to wait for [B]"right price at the right time"[/B]
Rewards are great, if you learn to be patient. This system can make you thousands of pips in a month. You just have to wait for the right time.
Success rate is about 90% (may be more, there are hardly any losing trades!!).
I use this system only on Daily Charts. (May be it works on hourly but I haven't tried).
So, here it goes:
Pair: Any currency pair.
Time Period: Daily (I use GMT for market open/close)
Tenkan Sen : Green
Kijun Sen : Red
Chikou Span (Lagging Line) : Purple
Cloud : Blue
[U]Entry Signal[/U]: To SELL:
Condition 1: Tenkan Sen below Kijun Sen.Condition 2: Chikou Span below the Price Line.Condition 3: Current Price below the Cloud.
To BUY:
Condition 1: Tenkan Sen above Kijun Sen.Condition 2: Chikou Span above the Price Line.Condition 3: Current Price above the Cloud.
As soon as ALL 3 conditions are satisfied, enter into the position at the open of next candle. Use 2 lots to enter the position.
[U]EXIT[/U]:
To exit, we use Chikou Span (the lagging line).
Mark supports and resistance on the Chikou Span line, just as you would do for the price line.
For LONG position: The support on Chikou Span right below the price you enter is your STOP LOSS level.The resistance on Chikou Span right above the price you enter is your TAKE PROFIT level.And vice versa, for SHORT position.
For example, in the chart attached, you can see 1.3985 as my profit target on EUR long position. And, 1.3600 is the stop loss level
If your stop loss level is reached (which is very unlikwly), get out of your 2 lots.
If you take profit level is reached, take out 1 lot and let the other lot run with a trailing stop loss.
As you can see the EUR chart attached, after giving the ENTRY signal at 1.3712, the price after hitting first target of 1.3985, went as high as 1.4700
Well, this is my simple trading systemEveryday, I scan all the currency pairs for this formation on daily charts and enter a position with above mentioned rules.
Only last week, I entered EUR/USD ; USD/CHF and an asian currency USD/SGD, all 3 pairs earning me thousands of pips in a matter of 2 days.
I would appreciate any feedback or questions about this systemAlso any suggestions to improve the system are welcome.
I have also started updating all trades that I enter based on Ichimoku Trading System on www.meetpips.com and you can find me there with the user name Dealing Room.
http://pipsforyou.blogspot.com

Sell USD all morning on Wednesday and then take profits either near the New York close or during the morning on Thursday. Then buy euros and pounds and Swissies again on Friday and put them under the Christmas tree. Open them up after the holiday on 29 December, go square, and close out the year.

The major European currencies have a predictable pattern around the times of major market turns. Either the Swiss franc or British pound, or both usually lead, and the euro follows. The logic behind this is that the hot money players, as the banks sometimes call us, are the ones that cause the turns and due to lower liquidity the CHF and GBP move more than the euro. It is only after the trend becomes well established that the euro takes the lead, fueled by more conservative larger players.
It is now clear that the US dollar has lost its luster and cautious investors are starting to buy the other or `second tier' reserve currencies including the EUR, CHF and to a lesser extent the GBP. The attractiveness of these currencies isn't the yield, but rather safety. As traders become more confident of holding low interest rate currencies they will start to look for riskier currencies with higher yields. The emerging Asian currencies have been performing well due to their positive current account balances and strong reserve positions.

USD/JPY has continued to edge lower. The support at 89.95 has come under pressure and we have seen some slippage. The short cycles call for this selling pressure to persist into Wednesday but the further support at .8910 should hold. Strength should be capped by resistance at 91.05.
EUR/JPY fell towards the support area at 122.45. Whereas we expect EUR/JPY to see some selling pressure into Wednesday this support level should hold. The resistance at 126.50 should hold over the next day and even the closer level at 124.50.
USD/CAD has been range bound and is holding just above the support at 1.2290. The cycles call for weakness into Wednesday. If the support at 1.2290 gives way further weakness to 1.2185 should be seen. The resistance at 1.2430 should hold.

Here I share with you, all the information and research reports which can help you win more pips.