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Trade 1 single renko box

  • #1
  • First Post: Mar 10, 2019 7:58am Mar 10, 2019 7:58am
I am obsessed in finding a strategy to trade ONE single renko box...you know, if it goes up or down...I don't like trend trading and wait much time for 10-20 boxes. I just would like to find a strategy to evaluate where a single box will go (up or down) and put my stop loss and take profit at the extremes of the renko box....Does someone have any good idea to do this?

By now I found that best results are obtained with Hull MA, but I have a 70% success, that would be good, but in reality when you lose with this method you lose double, so it is a poor 55%...It's needed at least an 80-85%...

Hope someone can help. Thank you

regards
  • #2
  • Mar 10, 2019 8:12am Mar 10, 2019 8:12am
Quoting jo24
I am obsessed in finding a strategy to trade ONE single renko box...you know, if it goes up or down...I don't like trend trading and wait much time for 10-20 boxes. I just would like to find a strategy to evaluate where a single box will go (up or down) and put my stop loss and take profit at the extremes of the renko box....Does someone have any good idea to do this? By now I found that best results are obtained with Hull MA, but I have a 70% success, that would be good, but in reality when you lose with this method you lose double, so it is a...
Its a MM issue. First check how big are in average that bad trades, how many recovered and set SL for those trades are not recoverable. You will increase your win ratio and profit without have change any system setup
Try don't lose pants never...
  • #3
  • Mar 10, 2019 8:36am Mar 10, 2019 8:36am
Quoting braintheboss
{quote} how many recovered and set SL for those trades are not recoverable.
Can you explain better this sentence please?
  • #4
  • Mar 10, 2019 8:42am Mar 10, 2019 8:42am
An image better than 1000 words. If you set SL is a loss. But finally was a win. Question is always what is the limit...
Attached Image (click to enlarge)
Click to Enlarge Name: Captura de pantalla (357).png Size: 29 KB
Try don't lose pants never...
  • #5
  • Mar 10, 2019 9:05am Mar 10, 2019 9:05am
Quoting braintheboss
An image better than 1000 words. If you set SL is a loss. But finally was a win. Question is always what is the limit... {image}
In fact with renko, if you work on the single box, you have to put your SL at "2 boxes" from the open, because the price can move in the opposite way for a distance equal to 2 boxes. That is the limit. So the ways are two: reduce the limit (but how?) / find a better strategy.
  • #6
  • Mar 10, 2019 9:15am Mar 10, 2019 9:15am
Quoting jo24
{quote} In fact with renko, if you work on the single box, you have to put your SL at "2 boxes" from the open, because the price can move in the opposite way for a distance equal to 2 boxes. That is the limit. So the ways are two: reduce the limit (but how?) / find a better strategy.
Why 2 boxes? Why not 5? What is the fact of that rule? Looks arbitrary rule without any real base.

Anyway the main problem is about your first post sentence "but I have a 70% success, that would be good, but in reality when you lose with this method you lose double, so it is a poor 55%...It's needed at least an 80-85%..."

Really it dont have any sense. 70% is win ratio? Then if have 70% win ratio as is possible have a 55% if losses are included in win ratio measure? You need a +80% for what? For don't lose or for be rich?

Anyway as you commented one loss is double of one win. Then we come back again at first place. If a loss is bigger than a winner why don't you try see first if that loss was really a bad trade? Many bad timing trades are profitable at the end but you need know how many will do and what is their average DD for see if fits with your account limits.

At the end dont have MM is the responsible tradr fail. But MM is not set an SL. Its something deeper and complex
Try don't lose pants never...
  • #7
  • Mar 10, 2019 10:15am Mar 10, 2019 10:15am
Quoting braintheboss
{quote} Why 2 boxes? Why not 5? What is the fact of that rule?
Yes I know, I'm probably the only one who understand why this...
  • #8
  • Mar 10, 2019 10:32am Mar 10, 2019 10:32am
Quoting jo24
{quote} Yes I know, I'm probably the only one who understand why this...
You dont want help really. You want somebody solve all your issues while you wait in the sofa. I understand too..
Try don't lose pants never...
  • #9
  • Mar 10, 2019 12:18pm Mar 10, 2019 12:18pm
Quoting braintheboss
{quote} You dont want help really. You want somebody solve all your issues while you wait in the sofa. I understand too..
You don't know anything about me...
  • #10
  • Mar 10, 2019 1:36pm Mar 10, 2019 1:36pm
How about these rules just trade one box though. Stoch is not mandatory to show

Chris

Renko Rules


Down rules; After a green run up of min 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line).
Stop goes above last green candle and is moved to BE after one more white candle, (or if a green shows up cancel the trade) keep moving stop above each white candle until stopped out or stay at BE until a green candle forms on or below the 5 ema. This is the signal to go long (on the next green candle) if stochastics is in agreement.
If you get short and stopped out by the next candle being green you can re-enter if that green candle was above the 5 ema and the next candle is white above or below the 5 ema and stochastics is still crossed down-Only do this once, then have to wait for another setup.
Attached Image (click to enlarge)
Click to Enlarge Name: renko.jpg Size: 79 KB
  • #11
  • Mar 10, 2019 2:59pm Mar 10, 2019 2:59pm
Quoting cfudge
How about these rules just trade one box though. Stoch is not mandatory to show Chris Renko Rules Down rules; After a green run up of min 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line). Stop goes above last green candle and is moved to BE after one more white candle, (or if a green shows up cancel the trade) keep moving stop above each white candle until stopped out or stay at BE until a green candle...
Strategies like this are not so profitable, too simple to be true... when the market moves badly and it is chaotic you lose a lot...and that "a lot" is what transforms your 90% into a 65-70%. And if you lose more than what you win --> 55%. I tryed all, believe me...it's not so easy to have a 70% with same win and loss, but I think that with renko is possible...
  • #12
  • Mar 10, 2019 5:05pm Mar 10, 2019 5:05pm
there is a member named havo that says he has a 90% probability with r:r 1:1 on renko/range bar charts, maybe you should ask him, i think he also goes after only one box.
Quoting havo
{quote} If you want i could show you 2 different unbalance patterns with range/renko charts.. fairly accurate for entrys
  • #13
  • Mar 10, 2019 5:21pm Mar 10, 2019 5:21pm
Quoting metta87
there is a member named havo that says he has a 90% probability with r:r 1:1 on renko/range bar charts, maybe you should ask him, i think he also goes after only one box. {quote}
ok thank you.
  • #14
  • Oct 21, 2019 9:31pm Oct 21, 2019 9:31pm
Quoting jo24
I am obsessed in finding a strategy to trade ONE single renko box...you know, if it goes up or down...I don't like trend trading and wait much time for 10-20 boxes. I just would like to find a strategy to evaluate where a single box will go (up or down) and put my stop loss and take profit at the extremes of the renko box....Does someone have any good idea to do this? By now I found that best results are obtained with Hull MA, but I have a 70% success, that would be good, but in reality when you lose with this method you lose double, so it is a...
hi jo24, have you had any success in this single renko brick way? i am also looking into it and gained some success but have some troubles too, would like to discuss.
  • #15
  • Oct 21, 2019 10:52pm Oct 21, 2019 10:52pm
Quoting cfudge
How about these rules just trade one box though. Stoch is not mandatory to show Chris Renko Rules Down rules; After a green run up of min 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line). Stop goes above last green candle and is moved to BE after one more white candle, (or if a green shows up cancel the trade) keep moving stop above each white candle until stopped out or stay at BE until a green candle...
Like your idea. fudge! What size renko box have you used?
  • #16
  • Dec 14, 2019 11:40am Dec 14, 2019 11:40am
I am also trying to find a reliable strategy for trading only the next renko box and I also need a successrate of at least ~ 85%. But this is not to be profitable, it is just to not lose money because I am searching for a strategy I can trade with high (or sometimes even full) margin. This would work great with about 90% or more. I tried many indicators, chart patterns, etc. but I could not reach 90%, just about 70%. I just found a new combination of two indicators which I will test next week, it looks pretty profitable on the chart, but I do not really know how it will work in live market conditions. Maybe they can be helpful for your strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM2.png Size: 34 KB
Attached File(s)
File Type: ex4 Zeus.ex4   11 KB | 360 downloads
File Type: mq4 Zeus.mq4   3 KB | 354 downloads
File Type: ex4 RenkoScalp_MSAlert.ex4   8 KB | 380 downloads
  • #17
  • Dec 14, 2019 12:47pm Dec 14, 2019 12:47pm
Quoting BonjovieXD
I am also trying to find a reliable strategy for trading only the next renko box and I also need a successrate of at least ~ 85%. But this is not to be profitable, it is just to not lose money because I am searching for a strategy I can trade with high (or sometimes even full) margin. This would work great with about 90% or more. I tried many indicators, chart patterns, etc. but I could not reach 90%, just about 70%. I just found a new combination of two indicators which I will test next week, it looks pretty profitable on the chart, but I do not...
Minus spread and commissions, you only require winrate above 66,6% to be profitable with this way of trading. If your winrate is really 70% you should be happy
  • #18
  • Dec 14, 2019 1:35pm Dec 14, 2019 1:35pm
Quoting metta87
{quote} Minus spread and commissions, you only require winrate above 66,6% to be profitable with this way of trading. If your winrate is really 70% you should be happy
I usually trade 6 pip renko boxes. So I can put my stop loss to 13.5 pips (renko box size x2 + ~ 15 points spread). If I then take a trade that hits stop loss, I lose up to 50% of my account size. A trade that hits take profit, which i put exactly to 1 renko box, will bring me about 20% of my balance.
Let's have a look at this example:
I start with 100€ and then I lose a trade ⇒ 100€ - 50€ = 50€ (worst case), then I have 4 take profit trades: 50 + 10 + 12 + 14 + 17 = 103€. (Everytime plus 20% of current balance)
So if I lose a trade, I have to win 4 trades in a row to recover the one loss, which means I have to win 4 out of 5, 4/5 = 80. So to be profitable I need more than 80% successrate, + commissions etc. let's say 85%.
And because the order of trades is not always loss win win win win and I may sometimes lose 2/5, the rate has to be higher.
  • #19
  • Dec 14, 2019 6:45pm Dec 14, 2019 6:45pm
Quoting jo24
I am obsessed in finding a strategy to trade ONE single renko box...you know, if it goes up or down...I don't like trend trading and wait much time for 10-20 boxes. I just would like to find a strategy to evaluate where a single box will go (up or down) and put my stop loss and take profit at the extremes of the renko box....Does someone have any good idea to do this? By now I found that best results are obtained with Hull MA, but I have a 70% success, that would be good, but in reality when you lose with this method you lose double, so it is a...

Funny how i found this thread, i see "renko" i go inside

You want to win 1 single brick?? its fairly easy to do but why? you say you dont like "trend trading" BUT you slap a MOVING AVERAGE to find a valid entry? and from the look of your post you need to get some discipline first before moving on; also there is no need (practically) for indicators with renko, its pure price and they tell you everything you need to know before taking a desicion..

AND those 2 renko charts pictures are not accurate, one its based on "XX" timeframe higher than 1 minute or tick chart (WRONG results) and the other the generator its trying to paint bricks at a fixed time intervals and thats why its showing wicks up and down on the same bricks (again WRONG results)..

both are NOT reliable from the start


AND yes, if you want you can trade 1 brick with huge accuracy under certain conditions all day long but it will bite you in the ass eventually (wrong aproach again, flawed R:R, etc)

LEARN to read the price in itself.. all you need its there !!
  • #20
  • Edited 9:32pm Dec 14, 2019 7:53pm | Edited 9:32pm
Like Havo when I see the word Renko I have a look.
I use a commercial Renko Builder from OVO...He has different versions for approximately $45 us.....I feel that is good value....I beleive I have tested most free Renko builders out in cyber space.
It took me years of testing /research to succeed with Renko..Guess I am a slow learner...20+ years for Candles and 17+ for Renko.
I have tested brick sizes from 2 -50 and find that one brick size does not fit all..e.g 6 pips on Gold does not work for me but what works for one person may not work for another...I see Havo uses 3-5 pip bricks but do not know what pairs he trades.
I have posted many live charts in Aussi,s thread and perhaps there is something there for you...Find/build your own template that suits you and test,test and adapt.......Just my thoughts.
Good Luck
R


https://www.metalsmine.com/showthrea...30946&page=144
Ronnie Renko
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