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Renko trading using proven strategy 581 replies
A Proven Simple Strategy (2MAs, 1 RSI) 436 replies
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I'm sorry but I do not see this Trade Ichimoku cloudIgnored
DislikedWhen I posted the picture that you saw, I didn't have Ichimoku on this template (I was looking at another template). But the price was above the cloud. Here's how it looks if you use my present template:Ignored
Thank you so much great system.
I follow with attention and look forward to your template.
Hello and thank you.Ignored
If using Genesis as an entry method, and if you're only seeking 4 pips (+spread), then SL place under/over the recent swing low/swing high would suffice...Ignored
And I agree with RJ, as I use either the trigger candle or swing point, as long as risk is not more than 25 pips at the maximum....
Take care, and God bless
DislikedI keep getting PMs asking about my M1 "Babon-Ichimoku", so I think I have to explain something.
I already told in the thread that I use two templates, one for entry and one for exits, but so far I posted only one template. When I enter I look at both and the second one shows me whether this entry will be worth it's while, next week I will show the second template and I will describe step by step how I evaluate the possible entry using two templates and how I exit with almost the maximum profit. This week I couldn't do it because the second template...Ignored
Dislikedif this thing pans out like i think ill post a zip with indies and tpl, ideally i find a CSM that works well with this, i think currency strength with the major SR's is the ticketIgnored
DislikedI trade one hour before and two or three hours after market opens (London and New York open),
When the market opens I look at currency strength, wait until i see one currency is 7 (strong enough), one currency is 2( weak enough) then i open the chart with these two currency.
whenever i open the chart, you probably can see the chart has just formed a trend, then what i do is just wait for the pullback then follow the trend.
I just use line chart on M5 but I think we can apply it to M1 as well!
I am using ECN broker so that spread...Ignored
Dislikedsunhoyu, it is a very interesting approach! I would like you to test this method trading M1 and please tell us about your M1 results in the future! I was going to use this approach myself but right now the Babon system is not ready yet, so I prefer to trade only EURJPY. But when I'm done with Babon and I know it works then I'm going to do exactly what you explained and choose the currency that has more potential at the moment!
And, of course, I hope that perfectgrim will finish his work!
Thank you, guys!Ignored
Dislikedsure! I will be testing your M1 Babon system to see what it would bring me.
After i read through the two time frame approach u just post, i do thing it has a lot of potential and seems working well when i look at my chart!
but then in terms of stop lose, I think what RJ post earlier about using swing high and low is the best to set SL theoretically .
Of course I have no idea how to set SL the best with your system, I will experiment to see which way is the best to set SL.Ignored
Dislikedsunhoyu, I'm very glad that you're interested in Babon! Together we can make it much better!
About the SL: you see, the problem is I'm not sure myself what is the best SL, because as I said before it is a new system and I need at least a couple of months to make it the best it can be. When I was talking about the system's improvement, I mostly meant that I had to find the best SL!
And, of course, I would be glad to hear any suggestions how to improve Babon, and I don't mean just sunhoyu, I mean all the thread's participants!Ignored
DislikedOK, here's the post I promised:
So, we trade DNA-style, which means that we have a big lot size (1 pip is equal 1%), we want 20+% per day and we have pretty big SL, bigger than the potential profit. All this means that we want very accurate, "pinpoint" entries.
We have two templates, Babon-A and Babon-B.
Babon-A is our main template, it contains only three indicators (Babon Slope, TMA M5 and Ichimoku), so we can see what is going on and can watch the Babon Slope's signals. As you remember, Babon Slope can change it's color as long...Ignored
Today i`m testing a little system (+visual backtest for this mounth) ... a combi between DNA-Genesys-FavoriteIgnored
DislikedExcellent work, Favorite! I'm getting to work to test it. Thank you!Ignored