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Range and Renko Trading

  • #61
  • Dec 9, 2018 5:35pm Dec 9, 2018 5:35pm
Good luck in your endeavors...... Hope you find a methodology that suits you.
  • #62
  • Dec 9, 2018 5:38pm Dec 9, 2018 5:38pm
Quoting VEEFX
{quote} Then I have wasted my God damn time as none of you understood a word of what I am trying to convey! Every bit of what I wrote has PULLBACK written all over it. How can you guys not understand this is beyond me? You are focusing too much on cross as a breakout/trend following setup. If cross is so confusing, just remove the damn cross and just play the bounce of price off slow MA.... is that not considered a pullback? I will delete my posts as I am seriously done posting my ideas to those who are unable to think the way I can.... no offense...
Dude..... For living in a place that appears to be an island paradise you seem way too stressed ........
  • #63
  • Dec 9, 2018 6:13pm Dec 9, 2018 6:13pm
Quoting VEEFX
{quote} Then I have wasted my God damn time as none of you understood a word of what I am trying to convey! Every bit of what I wrote has PULLBACK written all over it. How can you guys not understand this is beyond me? You are focusing too much on cross as a breakout/trend following setup. If cross is so confusing, just remove the damn cross and just play the bounce of price off slow MA.... is that not considered a pullback? I will delete my posts as I am seriously done posting my ideas to those who are unable to think the way I can.... no...
god damn it vee!

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  • #64
  • Dec 9, 2018 11:00pm Dec 9, 2018 11:00pm
My how things have degraded........
Anyway back on track...Enough BullShit and whining.

Settle on an easy target size and increase profits by position size.
The method you use should be simple..... It is not difficult to make 10 ticks or so on the YM, ES, NQ CL... Take your pick.
A couple hours after the U.S. open and you can be done for the day.
And remember this chart.
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  • #65
  • Dec 9, 2018 11:04pm Dec 9, 2018 11:04pm
And watch this video again.....................
This shit just doesn't need to be a tough as most of you guys are making it.

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  • #66
  • Dec 10, 2018 12:10am Dec 10, 2018 12:10am
Tonights trade.
An 11 tick gain for $55 trading 1 contract.
Look at the profit chart to see what this could be with multiple contracts in this post showthread.php
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  • #67
  • Dec 10, 2018 8:33am Dec 10, 2018 8:33am
This mornings trade.... One and done.
1 contract, 11 ticks $55. See profit chart to see what a single trade with multiple contracts can do...
Less stress and can now go do something else for the day if I choose.
Or I can of course look for some more easy trades.
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  • #68
  • Dec 11, 2018 9:25am Dec 11, 2018 9:25am
This mornings trade.
A fast market so it was an easy 21 ticks.
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  • #69
  • Dec 12, 2018 9:01am Dec 12, 2018 9:01am
2 trades this morning to finish positive for the day.
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  • #70
  • Dec 12, 2018 9:07am Dec 12, 2018 9:07am
Quoting tradestar1
2 trades this morning to finish positive for the day. {image} {image}
Probabilities in action -great stuff tradestar
every Saint has a past. Every Sinner has a Future
  • #71
  • Dec 12, 2018 9:27am Dec 12, 2018 9:27am
Quoting turnip15
{quote} Probabilities in action -great stuff tradestar
Thank's turnip.
That's the name of the game. Trading probabilities with risk management.....
This is the spreadsheet you want to remember......... While it is nice to make the big runs ... smaller sprints have better odds in the long run.
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  • #72
  • Dec 12, 2018 9:45am Dec 12, 2018 9:45am
Here are two more high probability trades taken...
That sets a 4 trade limit for the day .... trade limits and loss limits are key elements to a successful trading plan.
You have to decide what they are going to be and stick to them....
The range bar size is something that gives you more versatility on your RR. It also helps to smooth an otherwise volatile day and can make it easier and more profitable to trade.
In these trades a 20 tick range bar showed the best odds and returns.... The first trades of the day used a 10 tick bar.
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  • #73
  • Dec 12, 2018 11:59am Dec 12, 2018 11:59am
Hello i have been trading for a while and followed this forum for a while and tought it was time too contribute some and become a member.I think some time ago you traded forex with renko is that true ore is my brain playing a trick on me.I can see you are consistent in profit everyday but your target for a day is not very high.Are you going to increase the profit target for each day?because 50 dollars a day is not enough to make a living,but 200 a day is.So you dont need to do more than have twice the target you have now to be able to live of your trading,but who am i to challenge you i see you have been trading this for 5 years so i am sure you know what you are doing.
  • #74
  • Dec 12, 2018 12:42pm Dec 12, 2018 12:42pm
Quoting ThePit
Hello i have been trading for a while and followed this forum for a while and tought it was time too contribute some and become a member.I think some time ago you traded forex with renko is that true ore is my brain playing a trick on me.I can see you are consistent in profit everyday but your target for a day is not very high.Are you going to increase the profit target for each day?because 50 dollars a day is not enough to make a living,but 200 a day is.So you dont need to do more than have twice the target you have now to be able to live of your...
His strategy (as with most day income trading strategies) involved consistency first and then increase the # of contracts per trade for exponential income growth.

tradestar1- curious how do you decide when to go with 10T or 20T range charts? Also, by 10T, you refer to #of trades/candle and not 10contract volume/candle right? Your chart must be flying in high speed during the first liquid hour :-
Staying in my lane...
  • #75
  • Edited 9:45pm Dec 12, 2018 7:16pm | Edited 9:45pm
Quoting ThePit
Hello i have been trading for a while and followed this forum for a while and tought it was time too contribute some and become a member.I think some time ago you traded forex with renko is that true ore is my brain playing a trick on me.I can see you are consistent in profit everyday but your target for a day is not very high.Are you going to increase the profit target for each day?because 50 dollars a day is not enough to make a living,but 200 a day is.So you dont need to do more than have twice the target you have now to be able to live of your...
Nope... never traded FX with renko.... I quit FX before I was aware of renko and range bars.. No interest in going back to fx either.
Don't be concerned with the size of the trades Shown here.... Would it make any difference to you if I used 10 contracts instead of 1 to illustrate the concept?, The target is still the same...10 ticks sometimes more .....But a minimum of 10..
They are for illustrative purposes ... Look at the position size spreadsheet to see what a simple daily goal of 10 ticks can do for you.
At this point something I have not brought up yet is ..... When you start using 2 contracts or more you can start scaling out of the positions.
With 2 contracts close 1 at +1 then start trailing your stop... More on this aspect later.
So you see we are only dealing with a baseline method here so far.
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  • #76
  • Dec 12, 2018 7:21pm Dec 12, 2018 7:21pm
Quoting VEEFX
{quote} tradestar1- curious how do you decide when to go with 10T or 20T range charts? Also, by 10T, you refer to #of trades/candle and not 10contract volume/candle right? Your chart must be flying in high speed during the first liquid hour :-
Hi Vee....
As you may have noticed there is a full range of bar sizes across the bottom of my chart.
Depending on the volatility of the day I take a look at the different sizes to find the smoothest one...
10 is a very easy size and easily obtained but if the market is moving fast I may goto the 20 to give me time and extra profit to set up the trade.
I do have an auto trade feature that makes it possible to enter with 1 click of the mouse and have all the trade parameters executed... Entry, TP and SL... all with one click....
  • #77
  • Dec 12, 2018 10:07pm Dec 12, 2018 10:07pm
Here is some current data on how this little illustration is doing since inception of these records.
Remember this is trading only one contract for the purpose of illustration for this thread.
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  • #78
  • Dec 12, 2018 10:11pm Dec 12, 2018 10:11pm
What could this have been by increasing size?
Also by taking up to 4 high probability trades?
Look at this spreadsheet....
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  • #79
  • Dec 13, 2018 6:35am Dec 13, 2018 6:35am
Quoting tradestar1
{quote} Nope... never traded FX with renko.... I quit FX before I was aware of renko and range bars.. No interest in going back to fx either. Don't be concerned with the size of the trades Shown here.... Would it make any difference to you if I used 10 contracts instead of 1 to illustrate the concept?, The target is still the same...10 ticks sometimes more .....But a minimum of 10.. They are for illustrative purposes ... Look at the position size spreadsheet to see what a simple daily goal of 10 ticks can do for you. At this point...
I am not a math...mathe..any good at sums, but common sense tells me ( and others have demonstrated) that ten pips per trade is more achievable/probable than 50 pips per trade. That said it makes sense to have more contracts with the same target of ten. Same theory with spread betting in the UK on Dax etc.
Keeping it simple like wot tradestar, and others do.
Keep it simple....so that people like me can understand it
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every Saint has a past. Every Sinner has a Future
  • #80
  • Edited 6:49pm Dec 13, 2018 6:36pm | Edited 6:49pm
Well this morning didn't go as well as usual but reached limit and quit for the day.
Tomorrow is a new day.
The first trade was just a flat miss.
The second trade ,... Well I got greedy and was going for 20....
The third trade almost got me my 20 but reversed and I closed it before it went completely to shit.
fourth trade.... so close but went sour..... That was enough for the day for me today.
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