Challenge Money Management Ichimoku

Monday: Introduction to Risk Management with Ichimoku

Mission : Today, we're going to familiarize ourselves with risk management concepts using the Ichimoku Kinko Hyo.

• Task 1: Read a detailed article on risk management with Ichimoku. Learn how to set your stop-loss and take-profit levels based on Ichimoku signals, and how to adjust your position size according to market volatility and cloud structure.
• Task 2: Examine two different asset charts (for example, a currency pair and a stock market index) and analyze the associated risk levels. Identify support and resistance levels to determine the most appropriate entry and exit points.
• Task 3: Share your first impressions and analysis on social networks using #xenesy and tagging @xenesy_project.

Tuesday to Thursday: Practical Application of Risk Management

Mission : During these three days, we will apply risk management with Ichimoku on demo trading accounts. You'll practice the strategies you've learned, adjusting your risk management for each trade.

• Task 1: If you haven't already done so, open a demo trading account. Many online brokers offer free demo accounts that allow you to practice without risk.
• Task 2: Every day, identify a trading opportunity on your demo account using Ichimoku. Determine your stop-loss and take-profit levels based on entry points, support/resistance levels and the Kumo structure.
• Task 3: Record your trades in a trading journal, detailing your risk management decisions:
• Position size
• Stop-loss and take-profit levels
• Justifying each decision
• Task 4: Share a summary of your trades, including observations on risk management and lessons learned, on social networks with #xenesy and @xenesy_project.

Friday: Analysis of Trades and Adjustment of Risk Management

Mission : Today, we'll review your trades of the week, analyze risk management and make adjustments to improve your strategies.

• Task 1: Review your trading journal and analyze risk management on each trade. Did you correctly adjust your stop-loss and take-profit? Was your position size appropriate for market volatility?
• Task 2: Compare your results with your initial analysis of each trade. Identify what worked well in terms of risk management and what could be improved.
• Task 3: Draw up an improvement plan based on your observations. Plan adjustments to your risk management strategy for the following week.
• Task 4: Share your findings and improvement plan on social networks using #xenesy and tagging @xenesy_project.

Saturday: Practical Case Study on Risk Management

Mission : Today, we're going to take a look at a a concrete example of risk management using Ichimoku, based on the trade of an experienced trader.

• Task 1: Discover our experienced trader's successful trade using Ichimoku. Analyze how this trader used Ichimoku to manage risk while making decisions.
• Task 2: Break down this trade in detail. Note how the trader has positioned his stop-loss and take-profit, as well as the size of his positions in relation to the volatility and support/resistance levels determined by the Ichimoku.
• Task 3: Write a summary of this case study, highlighting the best risk management practices you can adopt in your own trades.
• Task 4: Share your summary on social networks with #xenesy and @xenesy_project.

Sunday: Preparation for the Week Ahead

Mission : To conclude this week, we're going to prepare for the week ahead by reassessing your risk management strategies.

• Task 1: Review key risk management concepts with Ichimoku and the lessons you learned this week. Identify what worked well and what can be improved in your risk management approach.
• Task 2: Establish a trading plan for the following week, incorporating adjustments to your risk management. Set new objectives for managing your capital and the risks associated with your trades.
• Task 3: Set yourself clear, measurable risk management targets for the week ahead, including position size, stop-loss and take-profit levels.
• Task 4: Share your risk management plan and goals for the coming week on social networks with #xenesy and by tagging @xenesy_project.

By following this challenge, you will not only strengthen your risk management skills, but also learn to use Ichimoku more strategically to protect your capital and maximize your gains. Remember, risk management is a key element of any successful trading strategy. Good luck and see you next week for a new "7-day trading" challenge!