Range and Renko Trading | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

RENKO Trading SYSTEM - RENKO Indicators 7 replies

Range Bars & Renko charts 26 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Searching for a bar type that is not Renko or Range bars 18 replies

Range bar/Renko bar chart not working 5 replies

Attachments: Range and Renko Trading
Exit Attachments

Range and Renko Trading

  • #1
  • First Post: Edited Dec 24, 2018 12:19am Dec 2, 2018 8:37pm | Edited Dec 24, 2018 12:19am
All info here is for educational purposes only...... These ARE NOT trade recommendations.
All trades made here are from a sim account using live data .
I will not post my actual live trades on FF at any time due to security concerns.
If you decide to adopt this trading methodology you do so at your own risk.
All treading carries significant risk of loss.

You can follow me here as well..... https://twitter.com/TraderRenko

Here's what can be done with small gains..........
I have come to the conclusion that taking smaller easily targeted bites out of the market is far more profitable for me rather than trying to catch trends. With that said there will be times when I hope to catch larger moves but they will all be done within the few hours of my trading day.

I have found price based charts so much easier to do this with than time based charts.

Here is a simple spreadsheet of what you can do by making only 50 bucks a day per contract. Thats just 10 ticks in the YM. 10 ticks in the NQ. 4 ticks in the ES and 5 ticks in CL.

I don't trade FX anymore... Too much bullshit.

My trading day is much shorter now and I experience a lot less stress.

For those of you still trading FX..... Well..... I'm sorry........ Actually this can be done as easily in FX also.

I will return to add more to this later... I really hate this typing and journaling shit.


YOU MIGHT WANT TO ALSO READ THIS.......... http://tradingmarkets.com/recent/how...ng-640022.html
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-02 at 8.43.51 PM.png Size: 205 KB
Click to Enlarge Name: Screen Shot 2018-12-03 at 8.05.11 AM.png Size: 136 KB
  • #2
  • Dec 2, 2018 8:42pm Dec 2, 2018 8:42pm
Here is this evenings trades to start December.
The first trade was entered late and would have made the full 150 but I had moved the SL to BE + 2 ... The second trade was done the same way after it had gotten into profit but never retraced to hit the SL SO it made the full 3 to 1 reward to risk trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-02 at 5.55.43 PM.png Size: 33 KB
Click to Enlarge Name: Screen Shot 2018-12-02 at 5.55.27 PM.png Size: 118 KB
  • #3
  • Edited 9:08pm Dec 2, 2018 8:51pm | Edited 9:08pm
Here is a video that has probably helped me more than anything else I have come across.
It does not deal with chart types. It deals with risk management.
Give it a look and maybe you will also gain some insight.
I am not affiliated with Indicator Warehouse in any way nor do I receive any compensation from them.

Inserted Video
  • #4
  • Dec 3, 2018 9:31am Dec 3, 2018 9:31am
This mornings trade... Not perfect but close enough.
3 trades for Dec. so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-03 at 7.29.04 AM.png Size: 25 KB
Click to Enlarge Name: Screen Shot 2018-12-03 at 7.28.26 AM.png Size: 119 KB
Click to Enlarge Name: Screen Shot 2018-12-03 at 7.34.56 AM.png Size: 40 KB
  • #5
  • Dec 3, 2018 9:56am Dec 3, 2018 9:56am
Here is a list of November trades and summaries ...
November and since inception of this trading model's forward tests.
All trades place are 1 contract.
You can figure out the math with the chart above as to what happens when you start adding contracts to your trades
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-03 at 7.51.03 AM.png Size: 130 KB
Click to Enlarge Name: Screen Shot 2018-12-03 at 7.51.27 AM.png Size: 100 KB
Attached Images
  • #6
  • Dec 3, 2018 10:37am Dec 3, 2018 10:37am
Quoting tradestar1
Here is a list of November trades and summaries ... November and since inception of this trading model's forward tests. All trades place are 1 contract. You can figure out the math with the chart above as to what happens when you start adding contracts to your trades {image} {image} {image} {image}
Kudos for sharing. I love the math aspect and the simplicity around this style to produce consistency. Wondering if you will share your strategy in detail?

Edit: I am a two month old noob into futures. If possible, could you also share the blank excel template please. Seems like a good rigor to follow daily goals.
Staying in my lane...
  • #7
  • Dec 3, 2018 1:43pm Dec 3, 2018 1:43pm
I will detail the strategy a bit later .... There are a couple variations that I am testing to see how they come out after that I will share those as well.
The variations are nothing radical just some slightly more aggressive entry methods and a trailing SL.

As to the spreadsheet it is very basic.
You enter the idea , the date , buy or sell and the entry and exit in the win or loss column .
what little math the spread sheet does is in the tally boxes and it is very basic. Just column sums and cell additions or divisions.
I am not much of an excel programer......LOL
  • #8
  • Dec 3, 2018 6:07pm Dec 3, 2018 6:07pm
Here is the basic ruleset in a picture.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-03 at 4.05.33 PM.png Size: 669 KB
  • #9
  • Dec 3, 2018 7:02pm Dec 3, 2018 7:02pm
As you can see there are multiple opportunities to trade in any session.
I generally choose to take only a couple trades a day thereby reducing my risk exposure.
Watch the video in the third post again for some clarity on that.
  • #10
  • Dec 3, 2018 9:51pm Dec 3, 2018 9:51pm
Quoting tradestar1
As you can see there are multiple opportunities to trade in any session. I generally choose to take only a couple trades a day thereby reducing my risk exposure. Watch the video in the third post again for some clarity on that.
Thanks for sharing. You trade similar to Divergence with the mindset of taking a fixed daily income to avoid over-trading. Nicely done. What's the purpose of SMA(20), RSI and volume and other stuff...probably unnecessary. I am testing a similar approach but after a cross and when price breakout from a range. You anticipate a breakout will result in cross while I anticipate a cross will result in a breakout. same outcome although mine (and yours too) could run for many ticks if we can hold on a bit longer (but not required for daily income generation).
Staying in my lane...
  • #11
  • Dec 3, 2018 10:07pm Dec 3, 2018 10:07pm
Quoting VEEFX
{quote} Thanks for sharing. You trade similar to Divergence with the mindset of taking a fixed daily income to avoid over-trading. Nicely done. What's the purpose of SMA(20), RSI and volume and other stuff...probably unnecessary. I am testing a similar approach but after a cross and when price breakout from a range. You anticipate a breakout will result in cross while I anticipate a cross will result in a breakout. same outcome although mine (and yours too) could run for many ticks if we can hold on a bit longer (but not required for daily income...
I am testing the SMA 20 as a trailing SL ...
Volume is on the chart only because I haven't removed it... I don't really care about volume because the time of day I trade is already a high volume time.
RSI is also a test for trailing SL.
  • #12
  • Edited 11:11pm Dec 3, 2018 11:00pm | Edited 11:11pm
Thank's.....

NQ is a very good index to trade. You might like this article about the NQ.... http://tradingmarkets.com/recent/wha...de-640757.html

Using the plan in the profits spreadsheet in the first post allows you to trade multiple targets.

Since it just takes a glance at the charts to see what is going on and if there is an entry.

Keep it simple. That's the whole key to successful trading... It is SO easy to get off track and start complicating things.
  • #13
  • Dec 4, 2018 12:02am Dec 4, 2018 12:02am
Quoting tradestar1
Thank's..... NQ is a very good index to trade. You might like this article about the NQ.... http://tradingmarkets.com/recent/wha...de-640757.html Using the plan in the profits spreadsheet in the first post allows you to trade multiple targets. Since it just takes a glance at the charts to see what is going on and if there is an entry. Keep it simple. That's the whole key to successful trading... It is SO easy to get off track and start complicating things.
Yeah. I am in love with NQ for sure :-)

This is also an interesting article about comparing black jack with poker analogy and WHY running when profitable is so important for intraday traders. Quite the eye opener actually. I have always been short term scalper to hold for long term positions kinda guy but it is really true that loss recovery into profit is far less occurrence and more profit after meeting profit target is also a lesser occurrence. That is why setting daily profit and loss goals at the equity level is so important for consistence. One doesn't have to necessarily do it at the trade by trade level but in futures it is required because $5/tick could do some serious dent :-
Staying in my lane...
  • #14
  • Edited 1:26am Dec 4, 2018 1:03am | Edited 1:26am
Quoting VEEFX
{quote} Yeah. I am in love with NQ for sure :-) This is also an interesting article about comparing black jack with poker analogy and WHY running when profitable is so important for intraday traders. Quite the eye opener actually. I have always been short term scalper to hold for long term positions kinda guy but it is really true that loss recovery into profit is far less occurrence and more profit after meeting profit target is also a lesser...
That is an excellent article. Thank's for sharing that one.

Here is another that shows the advantages of a well played trading plan.....
Taking consistent smaller more available profits rather than trying for the home runs.....
http://tradingmarkets.com/recent/how...ng-640022.html
  • #15
  • Dec 4, 2018 4:02am Dec 4, 2018 4:02am
Quoting tradestar1
This mornings trade... Not perfect but close enough. 3 trades for Dec. so far. {image} {image} {image}
Is your chart based on 10 pip Range Bars ? ( Ignore that -just seen the print on your chart.)
The 10 and 50 ma's interest me because Harold ( Divergence) over at the NQ thread used to use the 10 and 50 before moving on. I used them happily for a while then moved to Ichimoko "Rockypoint."

Have you been using the 10 and 50 for very long ?
Profitable for you ?

If so then it would pay me to go back over some charts and , if happy, I could keep the 10 and 50 as an alternative or complementary trading style -maybe for the more volatile indices but use the Ichi for forex only. At present I would only use a one minute Ichi chart on Indices. Great thread Tradestar.
every Saint has a past. Every Sinner has a Future
  • #16
  • Dec 4, 2018 5:22am Dec 4, 2018 5:22am
Quoting tradestar1
Here is the basic ruleset in a picture. {image}
Brilliant post -thanks.
every Saint has a past. Every Sinner has a Future
  • #17
  • Dec 4, 2018 9:31am Dec 4, 2018 9:31am
Quoting turnip15
{quote} Is your chart based on 10 pip Range Bars ? ( Ignore that -just seen the print on your chart.) The 10 and 50 ma's interest me because Harold ( Divergence) over at the NQ thread used to use the 10 and 50 before moving on. I used them happily for a while then moved to Ichimoko "Rockypoint." Have you been using the 10 and 50 for very long ? Profitable for you ? If so then it would pay me to go back over some charts and , if happy, I could keep the 10 and 50 as an alternative or complementary trading style -maybe for the more volatile...
Hi turnip.
The 10 / 50 is a happy medium and has a good track record.
As to whether you use it or the itchy scratchy or not is not as important as choosing one and being consistent.
The biggest problem we have as traders is sticking to a rule set.... No matter what we find , seems we are always looking for greener grass. That is an account killer.
I suffer the same internal problem, I have a terribly hard time with that discipline.
So What I have found with the 10 / 50 is that if the 10 is above the 50 and price is above the 10 there seems good probability you will have enough momentum to hit your target.
I will do some chart examples later with different trade triggers to show that really any number of entry types can work and work well..... The problem is to stick to the one you choose and make your plan for risk control.
More later ....
  • #18
  • Dec 4, 2018 10:09am Dec 4, 2018 10:09am
Speaking of consistency..... I screwed the pooch this morning...
Got up late.... Was distracted and when I finally got started it was a crappy piece of the morning action.
Also missed the short side after my first stop out.
Anyway here they are.
2 losses.... Done for the day... No revenge trades, lick my wounds and be ready for tomorrow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-04 at 8.03.48 AM.png Size: 44 KB
Click to Enlarge Name: Screen Shot 2018-12-04 at 8.03.36 AM.png Size: 119 KB
  • #19
  • Dec 4, 2018 11:25am Dec 4, 2018 11:25am
I was trading YM for a while and it was definitely easier than FX, but that's also because I took a few months off of work and could trade during the NY session (I live in the NY time zone).

I'm back at work now, and can't trade the NY session anymore. Are there any assets I could trade during the evening hours, that are still very liquid?
  • #20
  • Dec 4, 2018 11:34am Dec 4, 2018 11:34am
Once done I am done for the day....BUT that doesn't prevent me from feeling some real emotions when I see what the market then went on to do...
But that is part of the game.
What good are rules if you don't follow them?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2018-12-04 at 9.32.14 AM.png Size: 126 KB
0 traders viewing now