Not much to say.
wait for correlation... +5
in the trade for 15 seconds
wait for correlation... +5
in the trade for 15 seconds
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Dislikedis this method still working?
I notice the drop in thread participation.Ignored
DislikedSlushFund.
Once you get the hang of this type of trading it becomes stress free as once the correlation and PA momentum is there together then you can take the trade with confidence.
Dave WIgnored
DislikedHow to determine correlation among the pairs? What to look for?
- Renko brick forming in the same direction? at the same time? Or once a brick is formed on one pair, wait for it to form in another pair and than take a trade?
Can you explain what to look for to determine corelation?Ignored
DislikedI guess thread participation doesn’t say anything about the system profitability. I’m sure huge part of Edgtrader thread followers were just newbie’s who wouldn’t make it in the forex world with any system. The rest is just busy making money JIgnored
DislikedI have had good days with Nitro....trading in demo mode.
But i've experimented that "for me" this kind of scalping is too much stressful in the long run...so now i'm studying and practicing "real" price action on longer time frames...just a personal choice.
Anyway I follow the thread and read the updates every day..Ignored
DislikedThink someone recently mentioned the importance of the speed at which renko bricks are forming in regards to nitro trading.
Lou mentioned this indi before but unless you visted the programming section on renko charts you probably missed it.Ignored
Dislikeddidn't he say later it wasn`t working in commercial renkos?
http://www.forexfactory.com/showpost...&postcount=204Ignored
Dislikedbali2002,
Thanks for catching that, I'd forgotten he said that. The indis may need more demo forward testing &/or code work before being used live.
That gives me a idea though, wouldn't it be nice to just have a simple indi that displays the number of bricks being formed per, min, 5min, 15 min etc?
That probably wouldn't be very hard to code, but don't really know since I don't code yet.Ignored
Disliked45,
Have you checked the other renko thread, which is more suited for indi traders?
http://www.forexfactory.com/showthread.php?t=193547
I think that may suit your style better. This thread was intended for traders that want to focus mainly on price action, not on indis:
As clearly defined on Post 1 of this thread:
Nitro Scalping is a trading strategy using RENKO bars instead of candles (although some still use candles).[b][b]We try to stay focused on PA (price action) instead of relying on indicators, which...Ignored
DislikedHi GrZack,
I was wondering how things go with your project.
Did you already solved the bug?
Regards,Ignored
DislikedChris,
Your chart is an excellent example of how using price action alone is much more efficient and risk averse than using indicators. I provided a step-by-step analysis of how price actions plays out in real time. It may be helpful to print it, cover it with another piece of paper, and the read the commentary from left to right, as if you were watching the market. At each key area, you may want to ask, did the indicators help clarify what price action was saying? Did the indicators distract from what price action was saying? Also, have you noticed...Ignored