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Trading Renko

  • #1,041
  • Edited 6:42pm Nov 4, 2018 6:11pm | Edited 6:42pm
Sunday afternoon trades.
Three chart types to let you see the differences and advantages between Renko, Range, and 1 Minute charts..
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  • #1,042
  • Nov 5, 2018 9:35am Nov 5, 2018 9:35am
First 2 trades were losses. So that's it for today....
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  • #1,043
  • Nov 6, 2018 9:04am Nov 6, 2018 9:04am
Todays trade... One and done today...
I missed the open and the rest of the day with elections and all I think I will just call it enough for the day.
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  • #1,044
  • Nov 7, 2018 8:38am Nov 7, 2018 8:38am
Two more losses today... Done for the day.
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  • #1,045
  • Nov 7, 2018 9:04am Nov 7, 2018 9:04am
One last trade presented itself before I had to finally shut things down... Now I am done for the day.
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  • #1,046
  • Nov 7, 2018 11:09am Nov 7, 2018 11:09am
Quoting tradestar1
Todays trade... One and done today... I missed the open and the rest of the day with elections and all I think I will just call it enough for the day. {image} {image}
Are you using Renko or Range bars?? because both have VERY different unbalance and trade signals confirmation..

Also i have no idea but i cant see a consisten pattern/unbalance on the way you place the trades man.. just sometimes but not always
  • #1,047
  • Nov 7, 2018 6:11pm Nov 7, 2018 6:11pm
Quoting havo
{quote} Are you using Renko or Range bars?? because both have VERY different unbalance and trade signals confirmation.. Also i have no idea but i cant see a consisten pattern/unbalance on the way you place the trades man.. just sometimes but not always
I use both... A lot of my trades are in late because I don't sit at the screen intently... But both Renko and Range have what I call, followthrough and it gets me in and out pretty well.
If I sat at the screen with more intent I would even do better.
Happy trades ............
  • #1,048
  • Nov 8, 2018 12:04am Nov 8, 2018 12:04am
Just checking you are trading:
NQ - E-mini NASDAQ-100 Futures
CL - Crude Oil Futures
YM - mini-sized DOW Futures

What made you choose these 3 instruments Tradestar if you don't mind me asking?

I use both MT4 and Ninjatrader for FOREX.
MT5 offers futures with selected brokers but I am not yet convinced the Renko EA for MT5 is particularly brilliant yet.
I trade MT4 renko with a commercial Renko indicator that is very stable. Ninja has Renko as standard.
  • #1,049
  • Nov 8, 2018 8:49am Nov 8, 2018 8:49am
Quoting tradestar1
{quote} I use both... A lot of my trades are in late because I don't sit at the screen intently... But both Renko and Range have what I call, followthrough and it gets me in and out pretty well. If I sat at the screen with more intent I would even do better. Happy trades ............

Oh that explains a lot now haha
  • #1,050
  • Edited 5:03pm Nov 8, 2018 2:14pm | Edited 5:03pm
Quoting havo
{quote} Oh that explains a lot now haha
I'm glad I could help... I figured it would clear things up.....
  • #1,051
  • Nov 8, 2018 2:14pm Nov 8, 2018 2:14pm
Noon trade..
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  • #1,052
  • Nov 8, 2018 5:38pm Nov 8, 2018 5:38pm
Quoting tradestar1
{quote} I'm glad I could help... I figured it would clear things up.....
If you want i could show you 2 different unbalance patterns with range/renko charts.. fairly accurate for entrys
  • #1,053
  • Nov 8, 2018 7:21pm Nov 8, 2018 7:21pm
Quoting havo
{quote} If you want i could show you 2 different unbalance patterns with range/renko charts.. fairly accurate for entrys
I am not sure what you mean by "unbalance patterns", but I would be interested.
  • #1,054
  • Nov 9, 2018 8:47pm Nov 9, 2018 8:47pm
Due to time constraints and other obligations I was only able to dip a toe in the market this morning...
But at least it was a small win.
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  • #1,055
  • Nov 9, 2018 10:48pm Nov 9, 2018 10:48pm
Quoting tradestar1
Due to time constraints and other obligations I was only able to dip a toe in the market this morning... But at least it was a small win. {image} {image}
hey tradestar! great job, like your style of trading, you made my try testing something new as I had never studied Renko Bars before and after some chart replay it does look very promising

also, would you mind sharing these excel sheets you've built? I def could use the yearly income expectation and your trades resume

thanks for sharing, Im following
  • #1,056
  • Nov 10, 2018 4:16pm Nov 10, 2018 4:16pm
Quoting TamRoofer
{quote} hey tradestar! great job, like your style of trading, you made my try testing something new as I had never studied Renko Bars before and after some chart replay it does look very promising also, would you mind sharing these excel sheets you've built? I def could use the yearly income expectation and your trades resume thanks for sharing, Im following


I have found price structured bars easier to trade than time structured bars.

Renko has it's advantages and range has it's own advantages... And to be quite honest I haven't really decided on which one I like best yet.... Both are very easy to trade but the renko bars form a little differently than range bars. So your stops are set up a bit different for each.

Using a moving average with either is easy and has it's pluses and minuses. if you use a 40 or a 50 just take long trades when price is above the MA and short trades when price is below the MA... you can take the trade on a bar color change or you can use the MA as your trigger.

All these little nuances are something you have determine for your particular style and risk management.
  • #1,057
  • Nov 10, 2018 4:22pm Nov 10, 2018 4:22pm
Regarding the excel spreadsheets....
I just add the tally boxes as I need them. and use the sum feature of the range of each column.
Real basic sheet no rocket science there....
Also I run a MAC so these are MAC excel spreadsheets.
  • #1,058
  • Nov 10, 2018 4:31pm Nov 10, 2018 4:31pm
Here is November so far.
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  • #1,059
  • Edited Nov 11, 2018 12:03am Nov 10, 2018 5:54pm | Edited Nov 11, 2018 12:03am
This is a pretty good explanation of trading range bars.. a little longer than it really needs to be but give it a look .... I'm sure it will answer a number of your questions.
By the way I have no affiliation with the video.

Inserted Video
  • #1,060
  • Nov 10, 2018 11:19pm Nov 10, 2018 11:19pm
So far all the trades have been 1 contract ....
I will post this spreadsheet as a reminder of what you can do if you only target $50 dollars per contract per day.
This is how you start to make some money doing this.
Now as you may have noticed quite a few of my trades equal more than $50 per contract ..... That will come too , which just adds the frosting on the cake.
Enjoy......
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