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More simple is impossible

  • #9,481
  • Dec 2, 2017 8:39am Dec 2, 2017 8:39am
Luca, awesome.
Thank you very much for sharing.
Best,
Fran
  • #9,482
  • Dec 3, 2017 4:06am Dec 3, 2017 4:06am
Good Sunday everyone.
I wanted to show you the trade on Friday, where thanks to a big mistake of evaluation I risked to close at +2 a trade that had reached about +58 pips.
All explanations are on the cards.
I did not follow the exit signs and I thought to keep the operation because I was convinced it continued to rise.
How many times does Dee50 have to repeat it to me "Trade what you see and don't what do you think"? Stupid big head.
This time it went well and for good luck the price after coming back for 40 pips (FORTY PIPS!) is back on, making me close the operation to +55.

The fact remains that catching a retracement so great in Renko3 is really too much.
I was lucky, but we need luck in life not in trading.
In trading, luck is being able to be disciplined.

Best
Luca
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  • #9,483
  • Dec 3, 2017 6:18am Dec 3, 2017 6:18am
Quoting matmomo
Good Sunday everyone. I wanted to show you the trade on Friday, where thanks to a big mistake of evaluation I risked to close at +2 a trade that had reached about +58 pips. All explanations are on the cards. I did not follow the exit signs and I thought to keep the operation because I was convinced it continued to rise. How many times does Dee50 have to repeat it to me "Trade what you see and don't what do you think"? Stupid big head. This time it went well and for good luck the price after coming back for 40 pips (FORTY PIPS!) is back on, making...
Thanks for sharing Luca. A possible solution for your problem may be using multiple lots. If you are convinced due to your analysis on the big chart that this will likely go higher, you can take 1 lot profit and let the other run.

What you call drawdown is not really drawdown. It would be if you bought at the top and let it slide for 40 pips.

It is said that there are two important things for a trader to master - entries and exits. Now, in my view, I would argue that entries are more important than exits. if you have the entries mastered, the worst thing you can experience is a BE. With experience, as one masters exits, the profits improve.
Thats my 2 cents.

Have a great Sunday. Josh
  • #9,484
  • Dec 3, 2017 7:03am Dec 3, 2017 7:03am
Quoting JoshuaHope
{quote} Thanks for sharing Luca. A possible solution for your problem may be using multiple lots. If you are convinced due to your analysis on the big chart that this will likely go higher, you can take 1 lot profit and let the other run. What you call drawdown is not really drawdown. It would be if you bought at the top and let it slide for 40 pips. It is said that there are two important things for a trader to master - entries and exits. Now, in my view, I would argue that entries are more important than exits. if you have the entries mastered,...
Hi Josh,
you have right the multiple lots are a good solution.
In that trade i was stupid don't respecting rules, here was to exit and reenter.
And as you said, i have to master the exits.
Thanks, and have a great Sunday you too.

Luca
  • #9,485
  • Dec 4, 2017 1:57am Dec 4, 2017 1:57am
@ Matmomo
Thank you for sharing indicators and template.
Please help:
When applying template it stil doesn't show renko. It shows normal bars.
See chart below.
Thank you so much!
Attached Image (click to enlarge)
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  • #9,486
  • Dec 4, 2017 2:10am Dec 4, 2017 2:10am
Quoting Aqvila
@ Matmomo Thank you for sharing indicators and template. Please help: When applying template it stil doesn't show renko. It shows normal bars. See chart below. Thank you so much!{image}
Try using a Renko generator EA or indicator and DO NOT use the Standard Time Frames you should be using an OFFLINE chart not a M5.
Cut your Losers short and let your Winners run.
  • #9,487
  • Dec 4, 2017 2:41am Dec 4, 2017 2:41am
DAX30 +20+33+46+ongoing. Jumped the gun on the first one, Monday morning blues, worked out just fine as there was likely going to be at least a partial GAP fill. Second trade still not good, should have waited for the pullback before entering, third trade perfect caught the entry right on the turn gave me plenty of breathing room.
Update. killed third trade, Divergence and slowing momentum got +12
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Cut your Losers short and let your Winners run.
  • #9,488
  • Dec 4, 2017 2:55am Dec 4, 2017 2:55am
@Dee
Please can you share your indis & template?
Thank you so much.
  • #9,489
  • Dec 4, 2017 3:17am Dec 4, 2017 3:17am
Quoting Aqvila
@Dee Please can you share your indis & template? Thank you so much.
Look in the attachments, up there pages 1,2 and 3, anyway you have matmomo's templates they are the same, alright we are slightly different but his charts are easier to read and in the end it does not matter what template you use, if you can not setup a Renko Generator.
you might want to read these PDFs before worrying what template you are using.
https://www.forexfactory.com/showthr...39#post9985639
Cut your Losers short and let your Winners run.
  • #9,490
  • Dec 4, 2017 5:25am Dec 4, 2017 5:25am
GBPUSD -10 +53. The loss was due to me dabbling in the 3 pip chart trying to be smart. Second was TL Div, but also pattern play.
Best, Josh
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  • #9,491
  • Dec 4, 2017 12:45pm Dec 4, 2017 12:45pm
Quoting Aqvila
@ Matmomo Thank you for sharing indicators and template. Please help: When applying template it stil doesn't show renko. It shows normal bars. See chart below. Thank you so much!{image}
Hi Aqvila,
i think that you solved your chart problems with Dee50 indications,
if not solved it,let us know.

best
  • #9,492
  • Dec 4, 2017 1:18pm Dec 4, 2017 1:18pm
Dax: +32 +17 +10 +22 +16 +25 +15 +11 +25
Hi guys, happy Monday.
Day of highs and lows today, and alternating momentum.

PS: My first trade is almost similar to the Dee50's first one. That made me happy
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  • #9,493
  • Dec 4, 2017 3:33pm Dec 4, 2017 3:33pm
Dax +6+3+12+10+7+8+8+8+4+8+13+30
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  • #9,494
  • Dec 4, 2017 4:09pm Dec 4, 2017 4:09pm
Quoting Matomi
Dax +6+3+12+10+7+8+8+8+4+8+13+30 {image} {image}
I have always appreciated your naked trading Matomi.
  • #9,495
  • Dec 4, 2017 4:10pm Dec 4, 2017 4:10pm
Hi all...
Tried these 2 shorts... one active in the chart, and other around 17 hrs. Both SL hit.
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  • #9,496
  • Edited 4:30pm Dec 4, 2017 4:14pm | Edited 4:30pm
Here's a better view of my 2nd short attempt.


Right before that one had a long trade closing at +1. Long trade had a bounce from resistance and thought was a correct short setup.

I have a yellow line in there. I believe it was an early trade, and should have waited until price broke that yellow line and retrace to look for a valid short entry. What's your take?


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  • #9,497
  • Dec 4, 2017 4:18pm Dec 4, 2017 4:18pm
Long attempt on DOW

Charts are different as I'm looking to see what fits better, naked renko or with HA.
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  • #9,498
  • Edited Dec 5, 2017 1:59am Dec 4, 2017 7:11pm | Edited Dec 5, 2017 1:59am
Quoting cfabian
Here's a better view of my 2nd short attempt. Right before that one had a long trade closing at +1. Long trade had a bounce from resistance and thought was a correct short setup. I have a yellow line in there. I believe it was an early trade, and should have waited until price broke that yellow line and retrace to look for a valid short entry. What's your take? {image} {image}
Hi Cfabian,
thanks for sharing your trades.
One of the most common mistakes is not to worry too much about the Stoch.
As Dee50 said, in renko chart the Stoch is a cycle indicator. (You'll find, about that, a useful pdf in this thread).
So never go short when Stoch is rising, and never go long when stoch is pointing south.
And i would like to add: Never do anything if you have not a breakout (trendline breakout, 123 breakout etc)
There are more type of entry in renko charting and in this strategy, but if i can suggest let's start with breakout.
When you'll manage it well, go to the next step.
I allowed myself to indicate on your chart some possible inputs, and why your trade was not successful.
I hope you find it useful.
Let me know.

Best
Luca
Attached Image (click to enlarge)
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  • #9,499
  • Edited 2:48am Dec 5, 2017 2:22am | Edited 2:48am
@Matmomo and Dee
Thank you for kind explanations.
Yes i solved the renko chart generator isue.
I still have a question:
I saw some use a m2 offline and some a m3 offline chart. I even saw a m67 offline chart.
Wich should i begin with. And what size of renko bars do you recommend/use? 5 pip, 3 pip or 10 pip?
Also when i use Matmomo template the offline chart seems to freeze. I mean renko bars are not forming in line with price unless i click on chart or refresh it. Without template seems to be ok.

Thank you!
  • #9,500
  • Dec 5, 2017 2:33am Dec 5, 2017 2:33am
Quoting Aqvila
@Matmomo and Dee Thank you for kind explanations. Yes i solved the renko chart generator isue. I still have a question: I saw some use a m2 offline and some a m3 offline chart. I even saw a m67 offline chart. Wich should i begin with. And what size of renko bars do you recommend/use? 5 pip, 3 pip or 10 pip? Thank you!
The offline chart can be ANY arbitrary number you desire, as long as it's not one of the live chart numbers (1,5,15,H1 etc), it makes no difference to the renko chart builder, nor how you use it once it's printing the renko blocks...
Life is like a snickers, its full of nuts!
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