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Challenge 7-Days Trading: Ichimoku Kumo

Welcome to the latest challenge in our "7-days trading" series. This week, we'll be deepening our understanding of Ichimoku Kinko Hyo and exploring other essential aspects of trading. Each day, you'll have a specific mission to complete. Don't forget to share your progress and experiences on social networks with the hashtag #xenesy and identifying @xenesy_project. Here we go!

7-Days Trading Challenge: Ichimoku special

Monday: Analyze the Kumo (Cloud)

Mission : Today, we'll be focusing on the Kumo, or cloud, of Ichimoku.

  1. Task 1: Learn more about Kumo training by reading our detailed article on the subject. Understand how Senkou Span A and Senkou Span B are calculated and how they form the cloud.
  2. Task 2: Analyze the charts of two different assets (for example, a currency pair and a stock) using Ichimoku. Observe the position of the price relative to the Kumo and note your observations.
  3. Task 3: Share your analysis and first impressions on social networks using #xenesy and identifying @xenesy_project.

Tuesday to Thursday: Demo Trading Practice

Mission : Over the next three days, we'll be putting the use of Ichimoku into practice with demo accounts.

  1. Task 1: Open a demo trading account if you don't already have one. Many online brokers offer free demo accounts.
  2. Task 2: Every day, identify a trading opportunity using the Ichimoku. Use the Tenkan-sen/Kijun-sen crosses, the price position relative to the Kumo, and the Chikou Span position to make your decisions.
  3. Task 3: Record your trades in a trading journal, detailing the reasons for each trade, stop-loss and take-profit levels, and the results obtained.
  4. Task 4: Share a summary of your trades and lessons learned every day on social networks with #xenesy and @xenesy_project.

Friday: Review and Adjustments

Mission : Today, we're going to review our trades for the week and make some adjustments.

  1. Task 1: Review your trading journal and analyze the performance of your trades. Identify strengths and mistakes.
  2. Task 2: Compare your results with the initial analysis of each trade. Think about what you could have done differently.
  3. Task 3: Draw up an improvement plan based on your observations. Note the adjustments you need to make to your strategy.
  4. Task 4: Share your findings and improvement plan on social networks using #xenesy and identifying @xenesy_project.

Saturday: Practical case study

Mission : Today, we're going to deepen our understanding of Ichimoku with a case study.

  1. Task 1: Discover our experienced trader's successful trade using Ichimoku. 
  2. Task 2: Analyze the trade in detail. Understand how the trader used the various components of Ichimoku to make his decisions.
  3. Task 3: Write a summary of the case study, highlighting the key lessons you've learned.
  4. Task 4: Share your summary on social networks with #xenesy and @xenesy_project.

Sunday: Preparation for the Week Ahead

Mission : To conclude this week, let's prepare for the next.

  1. Task 1: Review the main Ichimoku concepts and lessons learned this week.
  2. Task 2: Draw up a trading plan for the following week, incorporating the adjustments and improvements identified on Friday.
  3. Task 3: Set yourself clear, measurable goals for the week ahead.
  4. Task 4: Share your plan and goals for the coming week on social networks with #xenesy and identifying @xenesy_project.

By following this challenge, you will not only deepen your understanding of Ichimoku Kinko Hyo, but also develop a rigorous trading discipline. Good luck to you all, and don't forget to share your experiences and results. See you next week for a new "7-day trading" challenge!

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