Renko trading using proven strategy

iHarvest Renko Strategy

Hello campers

Here is my way of trading RENKO small trends during the morning hours of Europe market and during NY open. This system is very profitable and can be traded by most people that have the required discipline.

The rules:

1. Check that you have a established trend using visual confirmation. This can be done on the H1 and the 6pip renko chart. See Post 13
2. Look for entries close to the hour (8 am 9 am 10 am...13,14,15,16)
3. Always place a SL below the last swing and make sure the TP is bigger or equal to the SL
4. Try to trade live micro lots so that you actually learn something....
5. Never ever ever pay for an EA as the only person making consistent money is the owner!

Overview of trading RENKO using start of European session



Here a summary for this year using a small live account. Still testing lots.... see below the latest and last update.

Some videos from my Youtube....

Two sell trades ....


Renko Symbols and brick size
EURUSD 2 pip
GPYJPY 3 pip
AUDCHF 3 pip

MA's 12,24,36 all exponential
Heiken_Ashi 8,5
Trend MA 130
Guppies (standard settings)


To download all tools and indicators go to my renko tool thread. or here the link to my google drive. Don't be confused by the name Titan trader. I am trading with a friend of mine (Stefan... he is a swiss trader.. real swiss, not an import like me :-) . Great guy and he trades reversals using some automated tool that I developed for him. All of the stuff is in the install plus a clean MT4 that can be use optionally)

Posting to thread is restricted due to the enormous amount of highly intellectual entries.... it confuses me and also threatens my (in)sanity.

Discussing actual trades taken can be done using the link below and is open to all that have a brain and have decided to use it :-)
https://www.forexfactory.com/showthread.php?t=743756

BELOW is WORK in PROGRESS

Patterns that will display alarms in the GuppyCandlePattern Indicator

1. WorldChange: When the price moves form one side of the Guppies to the other side
2. Hook: Three down and one up (It is valid only if turn around candles stay within the Guppies
3. Sprint (3 fast candles with very little volume)

=================== LAST UPDATE DUE TO MY ACCOUNT BEING HACKED BY SOME WANKER !!!!! ========
This month was a good test with a medium size account. 50K was the starting balance. It went up to 85K but as we all know, the market can suck up earnings in minutes...

My last advice to all: Stick to a plan for your money management. Let winners run. Look at the stats. only 50% of all trades are winner BUT the average winning amount is 4 times higher than my loss.

Trade with the trend.....

I am out of this for now

15.2.2018


Was sitting there at 7 am Swiss time... not so good an entry. weak trend...

8am ... was not sure for the first up move... but at 8.02 yeepeekayah. Got out too early

Here the latest renko chart with colour candles.


See below for entries in purple


Remember that after the full hour it becomes interesting to trade for us scalpers.

Small microlots give you experience in every aspect of trading and the losses are good lessons... once you learn to win, then increase trade size.

Now some of you will laugh... microlots... what a "Depp" (means moron in German), but there is a saying:

People who think they are too big for small things sometimes are too small for big things.

Last trade for the day +11 pips



price touched 80 level and then retraced during end of the hour. then breakout.... and off we go.

Thank-you Mr Chart

6 Winners in a row 35 pips



4 Winners close to 10 pips




I think I will go and jump around like a monkey!!!

Guys, this is no scam. I am as real as it gets... and once I get the hang of this, I will explain in depth.

Rules round numbers, end of period and renko, renko renko.

I will increase my mortgage on the house soon... and then pay all of it back to the bank!!!! Hopefully

Download all the stuff from my other thread using the google link
https://drive.google.com/open?id=0Bw...1JXQkFVQ3NnOUk

Ok, here my first run for the day


And another 2 loosers..... and 11 winners.... OMG Time to dance like a monkey


And some more.... but here we made very little...but the tool nicely protects any order that has more the 5 pips in profit.


And now the NY open.. within 20 minutes over ...... again. Activated the iHarvest on 4 pairs on the hour and wooooooosh.


Need to program the cockpit to handle all open pairs as one.... back to writing code.

Remember to be a hunter on the hour and sometimes on the half hour.....

Happy piping

20-30 pips per hour - 4 times a day....

Newest version using central cockpit

Did a video on a sample hour. Pick your own and try it.

Gday bill

After 15 years of working in the liquidity programming for various banks and funds, I can not explain all this in 30 lines but I have this to say:

I am building a small trading platform to trade my own funds using renko as a basis. (Initially on MT4, in the long run must have FIXAPI access)
I will have a cockpit for closing losers, winners, shorts and longs etc etc
The cockpit will connect to multiple slaves (Renko charts with an EA that actually takes order entries)

 

1. My main time to take the entries is during high liquidity. ( remember that my old job was mainly to fill orders, therefore my knowledge on spikes and slippage is second to none :-) )
2. Entries will be executed simultaneously on several pairs that show a short term trend. (bucket concept even so my EU and GU pairs are so correlated..)
3. Total lots open at anyone time will never exceed 160 lots or 16 orders, that is the plan (order cluster is the plan but need to investigate over then next week. My live test account is 50K and am not sure what liquidity pool I am attached to. I flew over to meet with my broker (GoMarkets) and they actually are connected to SAXO for their LP... home territory.
4. Currently my entries all are based on following the trend or getting in on a trend reversal. The reversals are clear to me as I can tell if a reversal point makes sense or not. Sounds arrogant... I know, but I really know where the orders are there and why.
5. I love trading when markets move from xx.80 to xx.00 in an uptrend or from xx.20 to xx.00 on downtrend
6. When pivots and round numbers (00,20,50,80) match, they are to be taken seriously.
7. I never ever ever trade news
8. I never ever ever trade without a opinion of the market
9. During the morning, I will only trade when the market does what I expect. I look back on the last 3-5 trading days to make up my mind what happens during London open. Most of the time NY is purely technical trading.
10. Currently I focus on EU,GU,UJ and UC due to spread.
11. ... and I like dark charts :-) My eyes are quite sensitive and I prefer the dark to bright lights...sorry. I am using this FF mostly for a guy called Stefan, so he will be my first guinea pig. Jokers aside, he is a mate and he will run the trading center when I am not around.
12. The threads from SonicR and HMAOUI are very good and can be taken as "food for thought". Most of the other threads are total utter garbage... but many good intentions.

Hope this helps... need to go to bed. 2 am in Switzerland. Not sure where you are .. .but good night.

PS: Nice to see that there are people with a high impact rating being able to post :-)

And where did I get the initial idea... 2 ideas: One was by watching traffic (on the highway and after lunch ..toilet traffic) plus one of the guys I worked for traded trend follow and reversal points. Up to 6 trades in a setup, 50 Mio each... 8% of his account. I saved him 10s of thousands as I improved the fills (less slippage). Unfortunatly I was not so interested in the actual strategy. My job was to fill as close to market price on entry and exit....and in these circles asking questions is not the way to keep a job.

The above post is as detailed as I can be at this point in time. This will be the last post giving details based on questions until I have successfully implemented all the modules and have tested them live on a small account. I have put in motion the wheels to have the necessary liquidity for this project.

Stefan Mxxx: You are welcome to challenge me but let us focus on getting the job done

Last trade for the day. Need to get some house work done
14.8 pips on USDCAD


a bit over 60 pips today... one more month and then we will know and not think that we know...

Go to 20 seconds... we want to know

Thank God it is Monday....



Clean and straight forward. Had some help from some tools under development. iHarvest "take first trade after the hour". Worked out well... not always the case but often. Please note the distance the obvious resistance and supports and the lower lows higher high patterns.

I have received many PMs... thanks but it is too time consuming. I will post the final version as I said once I am 100% sure. Download from links in post 1, watch youtube and practice 0.01 lot size live. It can be done with the right tools.

Also I have been asked to join some education communities... WTF? Answer: NFW There are lots of sites selling education such as https://theforextradingcoach.com/ , expert4x,com etc etc... I made the mistake of giving my email once to see what they are all about and I am getting daily "updates.. win for sure... "my biggest secret" "Five years ago I was a farmer!!!

the one with the farm(er) is one of my favourites... I bet he had a sheep farm... and now he is still farming sheep. DON'T fall for this. All these guys are nice and look like they have what it takes. Very few of them do, sorry to say so. If some of the people that I have mentioned are rich and sell their education to finance an animal sanctuary, then accept my apologies.

Trading is a combination of psychology, knowledge and tools.

Reading some books is cheaper and better. Reading is a way of learning, much better than youtube or FF ... one remembers it better. But I am old guy believing in the knowledge of books rather than instagram etc ... When I was young, I listened to the Pistols....Never mind the Bullocks! Great album! Now my oldest daughter is embarrassed as she thinks I am old fashioned. Sid Vicious is long gone....

Really!!!!! Almost free... You must be kidding me... Is really anyone dumb enough to click this link? To me it would be like sticking a shower hose somewhere where it does not belong. If you are even tempted to click, go and look in the mirror long and hard. Whoever you see tell him: Stupid is what stupid does! Good old Forrest Gump... he would have made a good trader.



FXRYDER https://www.pinterest.com.au/pin/447897125432318654/
Stay as far away... it is a money burner, someone I know tried with lots of accounts...

Buy more and you will be free....


And one of the best. Buy the EA for 300 USD and you will be sooooooo rich....only for you... so great


THERE IS NO FREE LUNCH.

The below link is IMO a good way to start. Serious and honest. I am not involved in any shape or form and get no kickbacks whatsoever.... but that is a serious approach.

https://cmtassociation.org/chartered-market-technician/

Even what I am doing here is no way to get to know real trading, it is more of a documentation of what I am doing. It would be naive to think that you will be a millionaire after 6 weeks starting with 50 bucks...

18:00... and I find 3 good setups.

EURUSD: The first one is a clear break of the 20 price line going towards 50....


GBPUSD Quick entry... went better than expected.


USDJPY I entered this one at a risky level.. and during the pullback I got scared. Still dont have my emotions under control



Last but not least. The reason I use GoMarkets: Look at my latency times.... 3.16 milliseconds is not bad....Please note that fills over a certain size will still experience crappy delays due to the nature of the LP from the backend provider. When working as a FX caterpillar, I was very very happy with under 5 milliseconds trade execution. For that to happen, one needs a good connection. Mind you, the EA delay on MT4 is about 50-80 ms based on my experience.


Below is an example of a liquidity pool of 10 million from the FIX API backend. When placing orders with over 20 to 40 lots, one needs to be an expert as otherwise the shower hose ends up up your xxx. Below shows a trader taking 45 lots in two separate trades on a Liquidity pool of 100 lots showing the refill rate of 10 lots per 30 seconds..... most of you will not understand this, but that information will show to some people why FX can only be made into a multimillion dollar business when all the factors match.

How to prepare for your trading day

 

1. Open the hourly chart and look at the market sessions for the last 7 trading days. Determine if there is a up trend, down trend or neutral by using an 21 EMA.
2. Look at the patterns for the last 3-4 days of the European session and see if there is some commonality.
3. Note down your impression for EU,GU,UJ and UCAD on a piece of paper using 3 columns (instrument, H1 Direction, Renko)
4. Now confirm this by using a renko chart using a box size of 6 pips. Note this in the 3rd column
5. Last but not least: Check for news or any speeches by FOMC members

Example


EU, Down, DN
GU, Undecided, UP
etc etc

Assuming that the 2 columns agree, then trade in that direction and only in that direction from 8 am until max 12:15 (lunch time Central European Time)

And the most important rule of all: If the market does not agree with your analysis, don't take a trade.

The above is essential and should be taken as gospel. If you can't do the above, you lack discipline and direction.

I talked today to a smart german trader working for a investment firm. He confirmed that when educating new traders, most will not prepare properly for the day and when they are wrong, start chasing trades instead of not trading. Don't make it more complicated than you have to. Round numbers are the tension points in the market and nothing else really is needed. Looking at the left structure will show you the rest. Stick to your plan and give yourself a pad on the back for not trading when the market and you don't agree.

Can you make money trading this way... that is actually up to you as you must execute the trades, decide what to do, how to manage risk and how well you know your tools. Without good tools, no money honey

Today a trader from one of my favourite cities "Berlin" took the following trade(he gave me permission to publish this trade):

Look at the perfect discipline of this trader:

1. He did his daily analysis (he does it his own way) and was GU short.
2. At 8 am GMT he was ready and saw a clear break to the down side
3. There were also lower lows over the previous hour
4. The 80 level was broken and did not act as support any longer.
5. The price was on the way to the 50 level....
6. Look at the perfect entry - German skill and precision! Well done!

15 pips means 1% for the day. Can you do this? You bet you can but only if you adhere to the P's theory of the army:

Preparation prevents piss poor performance...

PS: Just got another feed-back:

View Youtube



Only trade today. was busy coding and doing admin in the morning

What trend is there in a day like today? Look how clean!!!!


The trend started during the asian session....



That was exhausting... but I am happy that it worked out. Need to make my tools much better. Too cumbersome when there are many open positions.

Finally finished the GUPPY pattern alarms. Please download and install from google drive if you want.


Retrace alarms and guppy cross overs...changing from one side of the world to the other.... like flying from Switzerland to Australia....

Have updated also the Multi time frame MACD ....

Next week back trading hopefully.

Have a great day

Here the youtube


How to install

Dear all

This will be the last post due to my account being used by someone... God knows how this happened. It really pissed me off, but that is the way of the internet. Good and bad... and there will always be people that want to scam others rather than honestly make money.

I have updated the first pos and hope that some of you will benefit from some of the information.

Good luck and bye

PS: and yes, it is a live account!...and everyone if free to post from now on. The thread is now open for posting.

Why would you post a screen cap of the trade explorer instead of just posting your trade trade explorer link? Why was it taken down?

I changed the account to a new one as I was not sure any longer if someone else still had some access.
PS: You have a great return on your trader explorer!!! Fantastic.

And last but not least... here a video on renko scalping

You crated STG Pintouch correct? I need help with a coder to send an alert when the H4 gets to 13pips+ or when the box is created. The same way it alerts you when it hits the box the second time (current pintouch)