Ezakimak's Trading Blog

hi...

good work on the renko...

i've been looking into renko too...

first, my reasoning is that the forex market is a 24-hr market and different broker have different feeds, so a pin bar from my broker may not be a pin bar to you, so basically im looking into a system that does not take time into consideration...

second, if 95% of the community are losing money, its a sensible question to ask what are they all looking into that may be causing them to lose? indicators?chart patterns? so im exploring some unique way of looking at the price...like renko or point and figure...

too bad there are not many books about renko...

question for you my brother:

how do you decide on the box/brick size?
what are ur rules for entry? exit?
money management?

rgds

I was asking if anyone has developed an ea for this method, especially using the waverunner indi. If so, please post it here as I would be glad to have it!

Hello Sagad,

Sorry for the late reply, I haven't checked in here for a long time. I have been writing my blog at Kreslik and having a lot of fun with the guys there.

Glad to hear that you are interested in renko, it has really changed the way that I trade and I am much better for it. You can trade it naked using only price action, but with one or two other indicators. You will see in my new blog that I am using renko as the basis for heiken ashi and have been having great fun with it. Like any strategy you don't win all the time, but if you can increase the chance of winning and give yourself an edge, then go for it.

I like renko for exactly the reason you mentioned. Not many people use it so there is an immediate edge. The definition of madness is doing the same thing over and over and expecting a different result. Do something different for a change and see what happens.

The other reason I really like renko is that time is not a factor. I work a full time job, and it suits me to have a chart where time is not a factor.

I have played with different renko block sizes. Most of the charts posted here are 15 pip blocks, in my new blog I am trading 10 pip blocks. It is up to your own preference. The best thing to do is have a fiddle with some demo charts and see what suits you. I generally use two blocks as stop loss, so using 10 pip blocks as opposed to 15 blocks reduces exposure.

Please have a look at my trades at Kreslik and let me know what you think!

All the best mate!

Ezakimak

Hello Otea,

Sorry mate I don't think anyone has made an EA out of any of the methods I have presented here. Personally I prefer to trade manually - maybe that makes me a control freak! Ha ha.

Ezakimak

There is a guy, I think called kkreskar, who's trading BB MACD CCT on Renko over at the Optimized Trend trading thread...it looks pretty robust. Tell me what you all think. I hope I'm not hijacking the thred, but seeing as you use the bb macd, i thought you would be interested in it. Here it is:

http://www.forexfactory.com/showthread.php?p=4449833

Hope it helps someone...!

Hey Ezakimak,
Do you still trade with renko? I've noticed that your journal hasn't been updated since long time. I like trading this renkos too and been experimenting with different indi's ane settings. i've been focused on gold with renkos 25 and 12.
So how are you results?

Hey Ezakimak,
How are you? thanks for waverunnerdot indicator! i use it in my template and my trading along with market scalper pro! wave runner dot indi is set up to 25 and for me it gives a little bit earlier entry points! Mostly i focus on gold, EU, EJ and GJ! and today i had a nice trade on gold, 235 pips in less than two hours! this is my screen shot! I know that you prefer the chart to be naked and most of all this indis that i use repaint excet for PJ's as far as i know, but at least they give me some confidence.! in the last upside move i wanted to hold the position for more pips but it's already too late here in Kazakhstan and i grabed those that i already had! so totally 235 pips and i think it would be better if you continue your journal here cause your strategy is still valid an it really produces nice pips!! thanks!

great journal with great man
keep go on, bro