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- asdf replied Oct 5, 2009
Forexflash, that's a great multiple timeframe setup. Thanks for posting it. Scartree, it looks like he uses a base chart of 4 pip renko blocks with charts of 8, 16, 32, and 64 pip blocks on the side.
NITRO Scalping for serious traders
- asdf replied Oct 4, 2009
Glad it helped. Be sure to see Jigsaw's follow up analysis as it helps clarify what exactly was going on. As for brick size, I've only experimented with 10 pips, though I don't use renko for live trading. I also don't use indicators other than ...
NITRO Scalping for serious traders
- asdf replied Oct 4, 2009
Here's a great chart of reversal formations from the Silent Service thread. They come from Pring's Price Patterns book and are quite a comprehensive compilation. Renko really accentuates these types of formations. url
Trading Renko
- asdf replied Oct 2, 2009
I remember you asking about entries in the nitro thread, do you now enter on retraces? Your suggestion above is a good one. Really helps to see the value of patient entries. It may help to distinguish an entry setup from an entry signal (or whatever ...
Trading Renko
- asdf replied Oct 1, 2009
Lou, Thanks for starting this thread, it should be a great one. And also, many, many thanks for your work on the renko script. Let me know if I can help in any way. asdf
Trading Renko
- asdf replied Sep 24, 2009
I came across this post and thought it might benefit Nitro traders. It comes from Clockwork71 and his Silent Service thread (a great thread by the way, very similar to how I trade). This relative strength concept is unique to forex, and one that I ...
NITRO Scalping for serious traders
- asdf replied Sep 8, 2009
Lou, sorry for the delayed response. I think this answers your question. If it doesn't, let me know.
NITRO Scalping for serious traders
- asdf replied Sep 7, 2009
Sorry for the miscommunication. I was simply reinforcing the bolded quote from your prior statement. And I used the word patterns in quotation marks because they are not usually patterns per se, though they are identifiable and predictable. No ...
NITRO Scalping for serious traders
- asdf replied Sep 7, 2009
Your idea of allowing for runners is excellent. And moving the stop to breakeven plus x is a great way to increase overall R:R without the psychological angst of watching price retrace against you. Rather than set a fixed pip amount to adjust your ...
NITRO Scalping for serious traders
- asdf replied Sep 7, 2009
Consolidation/chop and its "patterns" are every bit as important as reversal and trend continuation patterns. Understanding consolidation decreases expenses, understanding the other two increases revenue. All have a major impact on profitability.
NITRO Scalping for serious traders
- asdf replied Sep 7, 2009
I agree with Ian. I think renko trendlines are valid without the wicks, though the wicks may add more accuracy at the expense of noise (so it's a tradeoff). I also use trendlines in general as guides/areas only. For me, they give an idea of where a ...
NITRO Scalping for serious traders
- asdf replied Sep 5, 2009
Jigsaw, Thanks for pointing that out. You're absolutely right. I was not following it real time and just assumed that if he made the trades that he made, then it must have been somewhat normal trading conditions. I was also looking at his chart as ...
NITRO Scalping for serious traders
- asdf replied Sep 5, 2009
No worries, Slush. Healthy debate is, in my opinion, a vital part of learning. There is nothing in your post that I disagree with. And you bring up many excellent points that haven't been mentioned. First and foremost, S/R (or anything for that ...
NITRO Scalping for serious traders
- asdf replied Sep 4, 2009
Chris, 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, ...
NITRO Scalping for serious traders
- asdf replied Sep 3, 2009
DaveW (or any others), When you post your charts, would you also mind posting the following: 1) Time the market opened 2) Time of entry 3) Time of exit 4) How much price went against you before reaching your target 5) How much price went beyond your ...
NITRO Scalping for serious traders
- asdf replied Sep 3, 2009
If anyone knows how to contact twee, it would be nice to eliminate these asdf is edgetrader accusations. I tried pm'ing twee, but it didn't work. Twee, if you read this, would you mind verifying that I am not edgetrader and then make it public in ...
NITRO Scalping for serious traders
- asdf replied Sep 2, 2009
I don't trade nitro, I think that is clear from my posts. And I have already said that if this is a distraction, or if my posts are a distraction, please let me know and I will stop. As for your assertions, those who are serious traders know how to ...
NITRO Scalping for serious traders
- asdf replied Sep 2, 2009
More price action on the AJ. Good example of large and small triangles, pennants, flags, coils, whatever you want to call them. They are identified by higher lows and lower highs and indicate price is indecisive. Once price picks a direction it ...
NITRO Scalping for serious traders
- asdf replied Sep 2, 2009
Here's more price action on the GJ. Some have asked about reliable setups. I highlighted my favorite in yellow (two actually of different sizes--one on the larger fractal and one on the smaller). These setups are everywhere, are good probability ...
NITRO Scalping for serious traders
- asdf replied Sep 1, 2009
I guess we'll agree to disagree. I definitely agree that the "magic moment" is key to this system. The purpose of my posts is to hopefully show that, even if you're scalping, some setups are higher probability than others. It doesn't matter how fast ...
NITRO Scalping for serious traders