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Range and Renko Trading

  • #101
  • Edited Dec 22, 2018 1:31am Dec 21, 2018 10:46am | Edited Dec 22, 2018 1:31am
I got up late again this morning and since I don't go into the office on Fridays I sometimes take advantage of that.
The beauty of this method is since I am only looking for 1 or sometimes a couple of profitable trades there are signals just about all the time and time of day isn't much of a problem.
Attached Image(s) (click to enlarge)
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  • #102
  • Edited 11:22am Dec 21, 2018 10:58am | Edited 11:22am
As mentioned above about the availability of trades here is a screenshot of this mornings chart with the available trades.
Green Arrows are the buys...
Red Arrows are the sells ..
Small Yellow Arrows are valid higher risk entries.
Out of 17 trades possibilities there were 2 that would have been losses ... One was a standard signal and the other was one of the higher risk entries.
Hope this helps clear up a couple things here.

A Merry Christmas and Happy New Year to all.

Got to looking at that chart a little closer and I saw there were couple others trade possibilities that I missed marking , But that is inconsequential. I am sure you will be able to spot them
Also a couple of extra losses possible if you look ... Bottom line is still verrrrrry good rewards to risk.
Attached Image (click to enlarge)
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  • #103
  • Dec 21, 2018 12:17pm Dec 21, 2018 12:17pm
I am curious what order type you are using for entries?
  • #104
  • Dec 21, 2018 7:24pm Dec 21, 2018 7:24pm
Quoting bapakjason
I am curious what order type you are using for entries?
Usually a market order but sometimes a stop order.....
  • #105
  • Edited 9:29pm Dec 23, 2018 8:49pm | Edited 9:29pm
Got in a couple trades this evening.
First trade was a mistake on the RTH... a little dyslexia and I sold instead of buying. My bad... My first trade was correct just got in late ... It would have been stopped out anyway......
Second got stoped out and third went to profit target... all RTH.
And a good trade on the YM.
Attached Image(s) (click to enlarge)
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  • #106
  • Dec 24, 2018 10:10am Dec 24, 2018 10:10am
Got up a little late this AM since I am not going into the office this week.
Managed to pull this one out so i am done .......
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  • #107
  • Dec 25, 2018 8:31pm Dec 25, 2018 8:31pm
Spreads are wide but I picked up a couple bucks just for fun.
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  • #108
  • Dec 25, 2018 11:38pm Dec 25, 2018 11:38pm
A couple late asian session trades..
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  • #109
  • Dec 26, 2018 10:20am Dec 26, 2018 10:20am
Got my trade this AM.
I'm done for the day..... I may however look for another trade later this afternoon or evening.... It's nice to get a trade just about anytime I want one.
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  • #110
  • Dec 26, 2018 11:11am Dec 26, 2018 11:11am
hey tradestar, are you still using renko ? Also you said those methods could be applied on forex, why then did you make the switch from fx to futures ?
  • #111
  • Dec 26, 2018 4:39pm Dec 26, 2018 4:39pm
Quoting metta87
hey tradestar, are you still using renko ? Also you said those methods could be applied on forex, why then did you make the switch from fx to futures ?
Actually I have pretty much settled on Range bars... I still take a look at the Renko but the Range seems to be just a little bit better for this.
As to why I am not trading FX.... Futures are a regulated derivative... FX... Not so much ... Also futures are centralized ..... FX You really have to trust your broker. And there is no accurate volume in FX .
Futures just have too many advantages .. If you want to trade currencies trade currency futures, then you will have a level playing field.

Also that last trade , the one from this morning at 8:15.... that whole thing took less than 30 seconds start to finish for both trades.
  • #112
  • Dec 26, 2018 6:58pm Dec 26, 2018 6:58pm
Picked an Asian session trade.
I was out after the mornings trades ..... Missed a heck of a day. But it's all good.
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  • #113
  • Dec 26, 2018 7:06pm Dec 26, 2018 7:06pm
Quoting tradestar1
Picked an Asian session trade. I was out after the mornings trades ..... Missed a heck of a day. But it's all good. {image} {image}
All good. Market will be there . . . . Plenty of great trades to come.
  • #114
  • Dec 26, 2018 7:09pm Dec 26, 2018 7:09pm
Quoting bapakjason
{quote} All good. Market will be there . . . . Plenty of great trades to come.
Yup.....
You do this the same way you would eat an elephant....... 1 bite at a time....
  • #115
  • Dec 27, 2018 3:18am Dec 27, 2018 3:18am
This is an awesome trading journal! Thanks for sharing this method and your progress.

I'm trying to duplicate your process, but keep getting stuck on how to make charts that look like yours. Your chart this morning (Dec 26) on the YM looked more like a renko chart than a range chart. Do you use a special setting? I tried to put the same settings on mine, with Range bar at 10 and the same moving average cross, but the two charts are very different. You have fewer candles, and they seem like more of a renko hybrid. Just curious as to why that would be--do you have some "secret sauce"?
I also attached a copy of your chart, at the bottom, for comparison.
Attached Image
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Renko Trader's chart.PNG Size: 66 KB
  • #116
  • Dec 27, 2018 7:45am Dec 27, 2018 7:45am
Quoting tradestar1
{quote} Yup..... You do this the same way you would eat an elephant....... 1 bite at a time....
Hello i aprichiate the journal very much showing consitency is very much possible i am looking into futures now also with AMP and they have a whole bunch of platforms can you share name on the one you use so i can try and setup a demo/sim with AMP i have also looked at infinity futures but they are basicly using sierra not that i belive its very bad but i would like to try your setup if you could make a quick coupple of sentenses abaut how to setup your platform quick if you have the time that is??
Insanityoing same ting over expecting different results..Einstein
  • #117
  • Dec 27, 2018 8:23am Dec 27, 2018 8:23am
Quoting FXsniper111
{quote} Hello i aprichiate the journal very much showing consitency is very much possible i am looking into futures now also with AMP and they have a whole bunch of platforms can you share name on the one you use so i can try and setup a demo/sim with AMP i have also looked at infinity futures but they are basicly using sierra not that i belive its very bad but i would like to try your setup if you could make a quick coupple of sentenses abaut how to setup your platform quick if you have the time that is??
Mate, if you haven't tried sierra charts yet , i would say the best out there for futures trading.
on a postive roll...
  • #118
  • Dec 27, 2018 8:52am Dec 27, 2018 8:52am
Quoting FXsniper111
{quote} Hello i aprichiate the journal very much showing consitency is very much possible i am looking into futures now also with AMP and they have a whole bunch of platforms can you share name on the one you use so i can try and setup a demo/sim with AMP i have also looked at infinity futures but they are basicly using sierra not that i belive its very bad but i would like to try your setup if you could make a quick coupple of sentenses abaut how to setup your platform quick if you have the time that is??
check the images....it is written there wich platform it is....
  • #119
  • Dec 27, 2018 10:06am Dec 27, 2018 10:06am
Quoting Trend4money
This is an awesome trading journal! Thanks for sharing this method and your progress. I'm trying to duplicate your process, but keep getting stuck on how to make charts that look like yours. Your chart this morning (Dec 26) on the YM looked more like a renko chart than a range chart. Do you use a special setting? I tried to put the same settings on mine, with Range bar at 10 and the same moving average cross, but the two charts are very different. You have fewer candles, and they seem like more of a renko hybrid. Just curious as to why that would...
OK lets see if we can get you set up here.....
I use MotiveWave charts as you can see and it appears you do also... correct?
Get rid of the volume on the bottom... I don't use it... I don't need it.
The MA cross is in studies and you will see an adjustment for "FILL" I will enclose some screen shots for you ...
The bars are 10 tick range .... AND.... RSI bars and the settings for those are 3, 50, 50.
I also have an RSI at the bottom and it is set at 5,
The fill is visual and helps keep you on the right side of the trade.
Price above the 50 you look for longs, below and you look for shorts.... breakout of the 7.
Thats pretty much it.
a 1 to 1 target reward to risk is very easy to attain. a 2 to 1 target to risk is easy but you will have a few more stop outs.
There are other parameters that I use but won't go into those at this time. they are just something to get a hold of a run.
Attached Image(s) (click to enlarge)
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  • #120
  • Dec 27, 2018 10:08am Dec 27, 2018 10:08am
Quoting Rmg
{quote} Mate, if you haven't tried sierra charts yet , i would say the best out there for futures trading.
from what I have been reading sierra can be a bit of a pain..... but if it's what you like then that's all that counts....
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