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More simple is impossible

  • #9,501
  • Dec 5, 2017 2:46am Dec 5, 2017 2:46am
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!
Hi Aqvila,
You're right, those numbers are confusing, but as Firewight said, they are just identifying the chart and are not related to the number of bricks.
I use Renko 10 to get an idea of the situation and then Renko 5 and Renko3 for the entries.

Best
Luca
  • #9,502
  • Dec 5, 2017 3:52am Dec 5, 2017 3:52am
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? 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!
The easiest way to set up the chart is this. Open a m1 chart and drop STG renko indicator on it. (before put the indicator under your mt4 folder under mql4/indicators).
Once you place it, you can type in the renko size you want, just click on the m67 or m68 etc(by default) and the renko chart will open. Then apply the template to the new chart that you want to use.
Builders tend to freeze most commonly if you input size in pips, and the builder defines the size in points.
Best, Josh

P.S. Full credits for the renko builder to tgdrela1.
Attached Image (click to enlarge)
Click to Enlarge Name: STG renko.JPG Size: 339 KB
Attached File(s)
File Type: ex4 STG_RenkoChart.ex4   143 KB | 496 downloads
  • #9,503
  • Dec 5, 2017 4:20am Dec 5, 2017 4:20am
Thank you Josh. Works great. Not freezing anymore
Thanks Luca for answers.
Will post some charts here when taking trades.
All the best to you!
  • #9,504
  • Dec 5, 2017 6:23am Dec 5, 2017 6:23am
Hi traders, I am struggling to find in your attachments this little indicator of BRN, please share, thank you.
Attached Image
  • #9,505
  • Dec 5, 2017 9:22am Dec 5, 2017 9:22am
Quoting hotsand
Hi traders, I am struggling to find in your attachments this little indicator of BRN, please share, thank you. {image}
Here.
Attached File(s)
File Type: mq4 SweetSpotsGOLD_TRO_MODIFIED_VERSION JV.mq4   6 KB | 378 downloads
  • #9,506
  • Dec 5, 2017 5:11pm Dec 5, 2017 5:11pm
Quoting matmomo
{quote} 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....

Hello Matmomo,
Many thanks for your notes. They are very helpful and constructive.

What do you think on the entry right before your 123 annotation?

How do you deal with stops? Simply SL at the extreme of the swing of your position?

You also pointed in stochs at the right end of the chart, that stochs were rising at my long entry. This, however, is a very tricky point. At my short entry, stochs were facing down right after turning. At that point was a LH in the indicator as well.

In your last long setup, stop would be at 13060, Around 25 pips. Do you really use it like this?

Cheers
  • #9,507
  • Dec 5, 2017 5:21pm Dec 5, 2017 5:21pm
Had these 3 attempts today.

Entry 1 + 1

Entry 2 SL hit.

Entry 3 + 1
Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m2-activtrades-plc-2.png Size: 68 KB
  • #9,508
  • Dec 6, 2017 1:29am Dec 6, 2017 1:29am
Quoting cfabian
{quote} Hello Matmomo, Many thanks for your notes. They are very helpful and constructive. What do you think on the entry right before your 123 annotation? How do you deal with stops? Simply SL at the extreme of the swing of your position? You also pointed in stochs at the right end of the chart, that stochs were rising at my long entry. This, however, is a very tricky point. At my short entry, stochs were facing down right after turning. At that point was a LH in the indicator as well. In your last long setup, stop would be at 13060, Around 25...
Hi,
For Stop Loss i use 3 bricks back.
Is correct say that the SL have to be @ the extreme of the swing, but if you need more than 3 bricks for that, your entry is too late.
Remember that in a cycle you have from 3 to 5 bars. So in a good entry a 3 bricks stop is more than confortable.
About your entry, i showed you on the chart.

Best
Attached Image (click to enlarge)
Click to Enlarge Name: ff.png Size: 60 KB
  • #9,509
  • Dec 6, 2017 1:43am Dec 6, 2017 1:43am
Quoting cfabian
Had these 3 attempts today. Entry 1 + 1 Entry 2 SL hit. Entry 3 + 1 {image}

Cfabian, you find a good trendline breakout,
that's the way.
Attached Image (click to enlarge)
Click to Enlarge Name: ff 2.png Size: 78 KB
  • #9,510
  • Dec 6, 2017 12:16pm Dec 6, 2017 12:16pm
DAX +8+22+25-7+5+10+8+2+2-3-5+3+5+2+7+4+3+5+5+8+2+20+10+12+4+12+8+23

11 hours of trading.

Matmomo - sorry for late respond, thanks for the words, is also pleasant to watch your performance, especially with results you have.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GER30M3.png Size: 37 KB
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  • #9,511
  • Dec 6, 2017 12:30pm Dec 6, 2017 12:30pm
Hi guys,
nice evening to all (here 19:20).
Today +11 +10 +10 -4 +50 +20

My loss trade was a classical "SDT" (Stupid Dork Trade) a new method of trading with simply rules:Sell when you have a Doule Bottom and Buy near a Double Top.
I go short near a Double Bottom. Luckly i saw it a few second later and close it soon as possible. SDT -4
In the chart i show to you the latest 2 trades, both reached the 200 Fibo's extension.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: de-30-x-trade-brokers 50 + 20.png Size: 129 KB
  • #9,512
  • Dec 6, 2017 12:34pm Dec 6, 2017 12:34pm
Quoting Matomi
DAX +8+22+25-7+5+10+8+2+2-3-5+3+5+2+7+4+3+5+5+8+2+20+10+12+4+12+8+23 11 hours of trading. Matmomo - sorry for late respond, thanks for the words, is also pleasant to watch your performance, especially with results you have. {image} {image} {image}

Hello Matomi,
I noticed that in some trades you have +2, +3, -3, -5, +2, +7, +10, etc.
What is your exit strategy?
  • #9,513
  • Dec 6, 2017 12:42pm Dec 6, 2017 12:42pm
Quoting matmomo
{quote} Hi, For Stop Loss i use 3 bricks back. Is correct say that the SL have to be @ the extreme of the swing, but if you need more than 3 bricks for that, your entry is too late. Remember that in a cycle you have from 3 to 5 bars. So in a good entry a 3 bricks stop is more than confortable. About your entry, i showed you on the chart. Best {image}
Great, I'm getting your point.
  • #9,514
  • Dec 6, 2017 12:57pm Dec 6, 2017 12:57pm
Quoting maxwell-eqtn
{quote} Hello Matomi, I noticed that in some trades you have +2, +3, -3, -5, +2, +7, +10, etc. What is your exit strategy?
Hello, I have only psychological rules, not a technical. You can entry wherever you want, but you have to know where exit. So in other words that's mean, when situation is starting to be strange for me or not clear, is best time to jump out of it. Sometimes it is too soon, sometimes it is too late and sometimes it is just at a right time. Hit the 3rd option more than 50% at a time and you're consistently in green pips, no matter how many pips you grabbed.
  • #9,515
  • Dec 6, 2017 3:57pm Dec 6, 2017 3:57pm
Quoting Matomi
{quote} Hello, I have only psychological rules, not a technical. You can entry wherever you want, but you have to know where exit. So in other words that's mean, when situation is starting to be strange for me or not clear, is best time to jump out of it. Sometimes it is too soon, sometimes it is too late and sometimes it is just at a right time. Hit the 3rd option more than 50% at a time and you're consistently in green pips, no matter how many pips you grabbed.

Thanks a lot, good luck my friend
  • #9,516
  • Dec 7, 2017 4:06pm Dec 7, 2017 4:06pm
Quoting matmomo
Hi guys, nice evening to all (here 19:20). Today +11 +10 +10 -4 +50 +20 My loss trade was a classical "SDT" (Stupid Dork Trade) a new method of trading with simply rules:Sell when you have a Doule Bottom and Buy near a Double Top. I go short near a Double Bottom. Luckly i saw it a few second later and close it soon as possible. SDT -4 In the chart i show to you the latest 2 trades, both reached the 200 Fibo's extension. Cheers {image}
Hello Matmomo,
Nice trading.

See my image below. From it, I'm very curious to know what was your thinking during the big yellow rectangle? Why you waited and looked for trades after that time?

Also I marked what would have been setups to me. Again, there might be a great reason not to trade those, and that knowledge will help lots to clear the path.

Best regards
Attached Image (click to enlarge)
Click to Enlarge Name: matmomo1.png Size: 134 KB
  • #9,517
  • Dec 7, 2017 4:49pm Dec 7, 2017 4:49pm
DAX +20+5+7+2+10+10+5
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M3.png Size: 37 KB
  • #9,518
  • Dec 7, 2017 5:03pm Dec 7, 2017 5:03pm
Quoting Matomi
DAX +20+5+7+2+10+10+5 {image}
Nice trading as well.

I always wondered what is your trigger / confirmation.
  • #9,519
  • Edited 7:58pm Dec 7, 2017 6:36pm | Edited 7:58pm
Quoting cfabian
{quote} Hello Matmomo, Nice trading. See my image below. From it, I'm very curious to know what was your thinking during the big yellow rectangle? Why you waited and looked for trades after that time? Also I marked what would have been setups to me. Again, there might be a great reason not to trade those, and that knowledge will help lots to clear the path. Best regards {image}
Hi Cfabian,
nice question!
Your inputs are almost all right, only they are a little early.
The short trades were not taken because we were in long trend, so for safety, except rare cases, i remain to follow the trend.

For the long inputs you suggest: I did not follow them because on the Renko10 chart the price was between the ema50 and the Ema200. Too risky.

The last two suggested short trades are against the trend and the only divergence is not sufficient to enter in the market.

On your chart I marked the exact points of entry of some suggested trade with blue lines.
Note that they are all at Breakout. Divergence tells us that something is about to happen, but to be certain we must have other confirmations.
I also attach the Renko 10 chart where I highlighted with red line where was the price when you suggested the two long.

Best
Luca
Attached Image(s) (click to enlarge)
Click to Enlarge Name: matmomo1.png Size: 135 KB
Click to Enlarge Name: y r10.png Size: 36 KB
  • #9,520
  • Dec 8, 2017 8:24am Dec 8, 2017 8:24am
DAX +50+2+2+21+6+4+13+10

Cheeky thing that gap trade, maybe I could say it was obvious, but I found this word as extremely dangerous at a trading. And I am gonna call it a day, I'm tired.

Quoting cfabian
{quote} Nice trading as well. I always wondered what is your trigger / confirmation.
Thanks buddy, I was experimenting for couple of weeks with very low timeframes, in our case we can talk about 1 pip Renko, the idea is not mine, all thanks belongs to Philippine who introduced it first in this thread. I started with that originally because of lack of momentum for over an year in DAX chart. My conviction about relevancy of tuning-up entries and exits via extra small timeframes is based also on Joe Ross's knowledge, he was first who brought and described to detail subject of be in trade before the losers hope into it. It's very exhaustive way of trading, your concentration must be 100% on the platform, but for me trading is a work, it's not supposed to be fun, or relax activity. Philippine explained tuning-up entries/exits in his posts with attached screens very well, so just check them out.
Attached Image (click to enlarge)
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