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  • #10,341
  • May 2, 2022 7:46pm May 2, 2022 7:46pm
What a mess of a night, Monday is always a problem day for me lol
5 trades: -20, -20, -0, +43, +25
first 3 trades were really unnecessary idk why i took them.
I am reviewing though
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  • #10,342
  • May 3, 2022 2:54pm May 3, 2022 2:54pm
Quoting Sojourn
What a mess of ... idk why i took them{image}
Yes, heavy and immediately after LO it's very fast. Your trades are very good to me

If I can recommend it is not wrong to write down why I am entering the market, as well as the goals I expect. I still do it sometimes it's good for maintain self-control.
Don't think!
  • #10,343
  • May 3, 2022 5:07pm May 3, 2022 5:07pm
Quoting LiboCop
{quote} Yes, heavy and immediately after LO it's very fast. Your trades are very good to me If I can recommend it is not wrong to write down why I am entering the market, as well as the goals I expect. I still do it sometimes it's good for maintain self-control.
thanks bro i appreciate it the words of encouragement!
what do you mean? like before market open write down what i think will happen?
i think that i am getting there but my results are still only slightly better then break even, i have yet to attain true profitability and consistency
took 2 losses -20 -10 i missed a real good setup at LO i thought it was best to wait for further confirmation which i dont typically do.
idk maybe i should make my SL bigger so i can avoid situations like this where i am getting stopped out because of price fluctuation? but then my RR would suffer
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  • #10,344
  • Edited 2:13am May 4, 2022 2:01am | Edited 2:13am
Quoting Sojourn
{quote} what do you mean? ............. missed a real good setup at LO i thought it was best to wait for further confirmation... {image}
GM for you evening,

I thought of notes for each entry, as I did here in some of my older posts.
eg:

1. I waited for the movement (like you :-)), perfect this one I also expected, then for confirmation and bounce of BRN, then PO on the first PB supported by Emas and Stoch ........ 2 days after LO I traded around a strong 14k level and 14,033. Very uncertain, as we wrote earlier.

2. again bounce with Div and 123 on break of TL

3. DB on BRN, break 14033
etc



PS: we are today again around 14k and 14033
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Don't think!
  • #10,345
  • May 4, 2022 3:07am May 4, 2022 3:07am
done
only longs
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Don't think!
  • #10,346
  • May 4, 2022 2:47pm May 4, 2022 2:47pm
Hi traders, I would like to ask you, why do you prefer renko to range bars? Thanks.
  • #10,347
  • May 4, 2022 3:20pm May 4, 2022 3:20pm
Quoting LiboCop
done only longs {image}
very nice trading! crazy we took almost the same trades

i was looking over what you said previously in old posts from a couple months back about the power of the stochastics, i think i am starting to get how you guys always
are on the right side of price. the stochastic cycle is a very powerful guide for when price is going to reverse and continue i havent paid enough attention to the cycle.

first trade was a sell because rejection from the BRN+Pivot and the big divergence +20
2nd and 3rd trade i entered a bit too early and i realized that because stochs were showing no signs of turning up so i moved to BE very quick
unfortunately on the 4th trade i got cold feet and also moved stops too soon lol.

I still cannot wrap my head around how you guys time pending orders. How do you know when you set the order that you are entering at the right time without waiting for confirmation?
why do you prefer the 5pip chart to the 10pip chart? just because it gives you quicker entries?
Do you look at higher timeframes when you are trading or just the one renko chart? i personally only use the 10pip chart when trading just wondering what you prefer.
sorry for all the questions Boss, Hope you are doing well, I aspire to be able to trade like you!
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  • #10,348
  • May 4, 2022 3:25pm May 4, 2022 3:25pm
Quoting yoko
Hi traders, I would like to ask you, why do you prefer renko to range bars? Thanks.
Tbh i dont really know much about Range bars, i still use the same renko indy dee50 shared years ago lol, it works fine for me so i have not bothered to look into anything else
  • #10,349
  • May 4, 2022 4:16pm May 4, 2022 4:16pm
Quoting Sojourn
{quote} Tbh i dont really know much about Range bars, i still use the same renko indy dee50 shared years ago lol, it works fine for me so i have not bothered to look into anything else
Thanks, Sojourn, which renko do you use?
  • #10,350
  • May 4, 2022 5:49pm May 4, 2022 5:49pm
Quoting yoko
{quote} Thanks, Sojourn, which renko do you use?
Attached File(s)
File Type: mq4 renkolivecharts_pimped_v4_13.mq4   20 KB | 424 downloads
  • #10,351
  • Edited 1:39am May 5, 2022 12:54am | Edited 1:39am
Quoting yoko
...why do you prefer renko to range bars? ...
Quoting Sojourn
{quote} ...how you guys time pending orders. .... without waiting for confirmation? why do you prefer the 5pip chart to the 10pip chart? ......? Do you look at higher timeframes when you are trading or just the one renko chart? ......questions Boss BUDDY! {image}

The benefits of Renko are in the first 2 posts of this thread. Also please read the contributions from Jaquemate and his technique, which was later associated with stochastic and Macd by Dee. This simplifies our inputs.

PO example by Matmomo here

PO by me is here and you will find other answers on that page 512 (live example of PO is from 10 233)

All entries are for me personally confirmed by an explanation of the entry.

The size of briquettes is the trader's choice, similar to the time frame of a candlestick chart. If the volatility is low, I also use size 3.

Yes, I also use a higher time frame for market orientation, similar like Dee or Matmomo. Mostly on H4 or D1

I hope this helps, don't hesitate to ask more questions, I'll be happy to answer if I know.

PS: what will happen today? We will see. We just have to follow.





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Don't think!
  • #10,352
  • Edited 7:11am May 5, 2022 2:37am | Edited 7:11am
these days are also
see you

Edit: I should have taken +20 (it was +30) on 14 300, maybe then I would quit and no longer trade ... there is still something to learn from mistakes
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Don't think!
  • #10,353
  • May 5, 2022 2:41am May 5, 2022 2:41am
reverse and better stop for today
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Don't think!
  • #10,354
  • May 5, 2022 5:28pm May 5, 2022 5:28pm
Quoting LiboCop
{quote} {quote} The benefits of Renko are in the first 2 posts of this thread. Also please read the contributions from Jaquemate and his technique, which was later associated with stochastic and Macd by Dee. This simplifies our inputs. PO example by Matmomo here PO by me is here and you will find other answers on that page 512 (live example of PO is from 10 233) All entries are for...
Nice trading buddy, haha
you have crazy skills to be able to trade like that in market conditions like these, i have recognized days like this as the kinds of days i am most likely to lose so i just cut my losses early tonight.
sorry i should have clarified what i meant by "confirmation" to me confirmation is the close of the renko brick. I suppose it just takes time and practice and you begin to feel it out i will work on it and i will study the charts you linked to in more detail and maybe read through all past posts again regarding these topics.

i took 1 loss today, i find it difficult to trade in conditions like these so i just stepped away for tonight. -20

What kind of stop loss do you use typically? 20 pips or does it depend?
do you keep track of your stats like accuracy and risk to reward?
i was looking back through my trades and i noticed many of them i was in pretty much zero DD, i thought about using a tigher SL say 5-7pips because that would mean a 20 pip winner would be almost 4:1 RR and i could of course hold trades even longer for greater wins
with an approach like this i wouldn't even need 50% accuracy to be extremely profitable
what do you think?
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  • #10,355
  • May 5, 2022 10:45pm May 5, 2022 10:45pm
Are these the MT4 settings you guys use?

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Good Trading
  • #10,356
  • Edited 3:45am May 6, 2022 2:22am | Edited 3:45am
GM,
sometimes it's done in a few minutes. Only shorts:

1. just TL break after LO bellow Ema 200, target TL and -0,5%

...2nd PB I didnt trade, because there was DB with Div and no LH

2. PB with bounce of TL, target +10 and BRN

3. the same, targets BRN

Sum +90

Edit: and so on, added 2nd screenshot, just follow, mainly not to fight with the trend.

Edit2: continuation. Added 3rd screenshot. Please, if you are interested, take a very good look at LH LL and 123 at my inputs, it is very important!

I will answer the questions above later



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Don't think!
  • #10,357
  • May 6, 2022 3:56am May 6, 2022 3:56am
Quoting aud
Are these the MT4 settings you guys use? {image}
It depends on the instrument and the broker or the number of numbers after the decimal point. e.g. we have 1000 for 10 points on the dax CDF (14000-14010), on the futures it can only be 100 for 10 points and on forex at currencies only 10.
Don't think!
  • #10,358
  • May 6, 2022 4:10am May 6, 2022 4:10am
Quoting Sojourn
{quote} ........ "confirmation" .......RR what do you think? {image}


also at low volatility I look at the minute graph or enter directly for the possibility of a tight SL

I'm not a good example for RR. Personally, I think that a lot depends on what is happening in the market, sometimes it can work perfectly and sometimes you will have a huge loss, so I always try to adapt somehow and therefore I use min. 2 positions (learned by Lance Beggs). If the market is one-way, I sometimes make a pyramid and add to position, but I'm still learning, it's very risky on Dax.
I try to make the smallest possible SL, which I usually cut by hand, which took me a long time to learn and I still have a bit of a problem with that, but then I usually set the SL to 20 points as well.

Have a nice weekend!
Don't think!
  • #10,359
  • Edited 7:31am May 6, 2022 7:03am | Edited 7:31am
Found little time.

Attached is a newer alternative of expert and I am also adding a good version of the indicator.

EA: RenkoLiveChart v600.9, original post here
- if you use it, please don't forget to press THX ( ) there :-)

Indi: STG no more public, original topic here
- it needs to refresh after each reopening MT4 or disconnecting ... e.g. I need 500 so every time I enter 499 and back 500. Tip: e.g. set it on 499 and then every time give 500 :-). Or change TF to m5 and then back to m1. Always use m1, you get more detailed data.

Both work very well.
Attached File(s)
File Type: mq4 RenkoLiveChart_v600.9.mq4   37 KB | 631 downloads
File Type: ex4 STG_RenkoChart.ex4   143 KB | 574 downloads
Don't think!
  • #10,360
  • May 6, 2022 9:42am May 6, 2022 9:42am
Quoting LiboCop
Found little time. Attached is a newer alternative of expert and I am also adding a good version of the indicator. EA: RenkoLiveChart v600.9, original post here - if you use it, please don't forget to press THX ( ) there :-) Indi: STG no more public, original topic here - it needs to refresh after each reopening MT4 or disconnecting ... e.g. I need 500 so every time...
thx for share
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