DislikedHi Indrek,
Originally you were trading on 15M and I recall you once posted you made over 200 pips in a couple days. Of course this is very good.
Did you feel this could not continue to be profitable over the long term due to losses to from ranging periods?
I was wondering if this was your reason to try Renko bars and 5M. I think the benefit to Renko is also it's weakness. It hides smaller price movements to show larger trend which is good. But this also makes it difficult to see price action strength and weakness that you would normally see...Ignored
I would say that originally (earlier) I traded on H1 chart but when I found this system, I moved to M15 as it seemed optimal.
When Edge started his C4 business I liked his idea of "less is more" and thought that it would be nice to have some kind of scalping system in my portfolio that I could use during busy times when I have not much time for trading that is only my hobby not a job. So, I started to test M5 and Renko and other stuff that I had not used before.
As I took myself free from any of my usual real life projects for the summer, I could allow some R&D work here. Starting next week, I will be busy again and then it is not possible for me to experiment much. Then I just trade when I can.
You are right that most of systems do not work at all during ranging markets. I have worked on many different systems, used hedging, breakout, some purely mathematical systems. As long as my income does not depend only on trading, I am free to use different styles. This one here is my first try with M5 but as you see, I quite quickly found out that even if trading from M5 charts it is not for me to take 5 pips per trade.
Hope, I managed to answer your question. If not - ask more