I am starting this thread for two reasons:
1) To document and test a new system.
2) To train myself to trade responsibly and effectively
After 10 years and 10,000 hours of study, my trading is still erratic, undisciplined, and quite frankly, psychotic. Obviously knowledge alone will never make one a great trader. I blow accounts faster than Hillary deletes classified emails. As Mark Douglas points out in his book "Trading in the Zone", I have personally refused to take responsibility for my losses. I over trade, revenge trade, marry trades, add to losing positions, fearfully end winning trades, and in general, engage is every type of destructive trading behavior one can imagine.
Renko charts have always appealed to me. In my opinion, renko simplifies price action, and at the very least is much easier on the eyes. However, I have just about gone off the deep end in trying to get the renko charts to function properly. The main issue seems to be that after awhile the bricks don't update. For now, I seem to have everything working well with Pepperstone.
This system may seem infantile to most traders, and that's a good thing, because that's exactly what I need. I need a system that is like changing an infant's diapers. When I see the poop (or smell it), I take action. I get the diaper. I put the diaper on, secure the straps, wash my hands, and I'm done with it. Trading should be the same. I see the set up, I take action and initiate the trade, set the SL's and TP's, wash my brain from the trade, and be done with it. Enough said.
NOTE: ANYONE is welcome to post here. All questions, comments, and/or constructive criticisms are welcome. Please be respectful. Anyone that would like to post a chart, please do. It would be nice if you used the same template but whatever floats your boat is fine.
I am looking for two set ups:
1)Double tops
2)Divergence (classic or hidden)
There are only two things on the charts:
1) Renko bricks - 7 pips each (no wicks)
2) RSI with period 9
This is a personal journey of accountability. I am trying to develop the mental framework to SEE IT, SET IT, and LET IT GO.
Thank you in advance for any contributions and best of trading to all.
1) To document and test a new system.
2) To train myself to trade responsibly and effectively
After 10 years and 10,000 hours of study, my trading is still erratic, undisciplined, and quite frankly, psychotic. Obviously knowledge alone will never make one a great trader. I blow accounts faster than Hillary deletes classified emails. As Mark Douglas points out in his book "Trading in the Zone", I have personally refused to take responsibility for my losses. I over trade, revenge trade, marry trades, add to losing positions, fearfully end winning trades, and in general, engage is every type of destructive trading behavior one can imagine.
Renko charts have always appealed to me. In my opinion, renko simplifies price action, and at the very least is much easier on the eyes. However, I have just about gone off the deep end in trying to get the renko charts to function properly. The main issue seems to be that after awhile the bricks don't update. For now, I seem to have everything working well with Pepperstone.
This system may seem infantile to most traders, and that's a good thing, because that's exactly what I need. I need a system that is like changing an infant's diapers. When I see the poop (or smell it), I take action. I get the diaper. I put the diaper on, secure the straps, wash my hands, and I'm done with it. Trading should be the same. I see the set up, I take action and initiate the trade, set the SL's and TP's, wash my brain from the trade, and be done with it. Enough said.
NOTE: ANYONE is welcome to post here. All questions, comments, and/or constructive criticisms are welcome. Please be respectful. Anyone that would like to post a chart, please do. It would be nice if you used the same template but whatever floats your boat is fine.
I am looking for two set ups:
1)Double tops
2)Divergence (classic or hidden)
There are only two things on the charts:
1) Renko bricks - 7 pips each (no wicks)
2) RSI with period 9
Attached File(s)
renkolivecharts_pimped_v4_13.mq4
20 KB
|
467 downloads
Attached File(s)
RENKO7.tpl
1 KB
|
392 downloads
This is a personal journey of accountability. I am trying to develop the mental framework to SEE IT, SET IT, and LET IT GO.
Thank you in advance for any contributions and best of trading to all.
Pride always comes before destruction.... -Proverbs 16:18
DARWINEX ZERO All Time Return:
11.9%