Williams%R, SAR X-over 15 minute candles

Thank you for taking the time to post a detailed reply. I wish you all the best for your 2023 trading plan, You seem well prepared with a well thought out plan.

Excellent and interesting discussion, congratulations to all participants.

I have found your posts very interesting. What kind of chart do you use? Renko 2 points with 50 % offset?

It is a 5 brick renko with HeikinAshi applied to the renko bars. rockypoint came up with it. The trading/chart platform is Ninjatrader.

You mean 5 ticks? In that case (ES) it would be 1,25 points.

I wish i had HA indicator on my platform (Multicharts).

Brick size is 5 ticks, yes.

The system works using jusst plain renko without the Heikin Ashi. The HA just gives a smoother look. But the results are the same.

So far today ES has been largely inside the shaded area shown just above Firday's high. Two trades so far, a -15 tick loss and a +16 tick win, so basically breakaeven on the day. US Equity open at 9:30 might get things moving, however, we have news at 9:45 and again at 10:00 AM NYC time, so the ranging might contiue into the open. I'll not be taking anymore signals until after the US Equity open on ES.

I like median renko charts. My layout looks like that:

Yes.

Looks good!

I can't show my entries and exist as usual because I am doing something new starting today to increase size. This includes starting a position, then adding more if the market moves in favor of the trade signal. I will have to work on re-sizing my fonts to make the charts more legible.



My US Equity session profits were made in the shaded area shown. Profit for the day is also shown. My goal this week is $500/day. Once I have at least $500 in closed profits, I am done until the next day. I don't think that such goals are necessarily a good idea but I'm using such a goal for this week. As can be seen, I left literally thousands on the table. But one must stick to the trading plan that one has committed to trade. I have committed to a specific plan for this week, and part of my plan is that I do not change ANYTHING in the plan until the weekend, if at all.

Also, though I theoretically left "thousands on the table," the reason I make stopping at a profit goal part of my plan is I want to fight the tendency I had in the past to be up in the early going, only to give it all back and end up at a loss for the day.

rockypoint's system is great. But what makes it work is me and my discipline. That is the same thing that makes any plan work for any of us. Our success, and our failure as trader's is inside of us. It is our ability to stick to the rules of our system.

My main focus is the ES emini, which for CFD/Forex traders is the US500 or the S&P500 depending upon your broker.

My secondary market is the 6B, which for VCFD/Forex traders is the GBPUSD.

Two other markets that I Like but will not be trading yet are GC, which is gold priced in USD, and CL, which is West Texas Intermediate Crude Oil.

I have a specific profit goal I have set forth, of which $8374.77 remains to be earned.

Once I get to that goal, my futures account will be funded at a sufficient level that I can then increase size again. Once I reach that point, I may start a journal here at FF tracking my progress for the rest of the year using this system if there appears to be any interest. I don't have any desire to keep a public journal if I'm just going to be talking to myself lol.

rhank you for sharing your journey.

i ll be trying to apply your strategy in US30,SP500,Crude OIL, GBPUSD,EURUSD and see how it goes.

i cannot use renko candles but I ll try to set up something similar on TradingView

i ll keep us posted

With all due respect, that's too many instruments. Pick one to start with not 5, imo. Again, I am not trying to sound like a know it all and I respect you as a person and as a trader. I believe with all my heart that your best chance of succes is to pick just one. When I finally settled down to getting serious about learning to trade this system, write strict rules that eliminated all choice, and practive the discipline of waiting for set ups, I traded only the 6B, which is the GBPUSD futures. It gives a reasonable number of 25 to 50 pip swings, often more. It is usually slow, so you see the trade setting up and plenty of time to hit a market order to enter. And once it is moving, it usually does not do the sloppy back and fill that the US equity index futures and crude oil too often do.

You don't need to trade every day.

You don't need 5 or 10 trades per day.

In my opinion and experience, more is definitely NOT better.

If you are already making $300 to $400 USD per day in profits, then may trade 2 instruments.

If you aren't making $1000 USD/day on average, you are hurting yourself trying to look for trades everywhere.

These set ups often happen quickly. While you are looking at your EU chart, the GU has triggered a trade and you are now 5 or 6 candles late.

Watch one chart. Focus on executing proper set ups.

And, again, just my opinion, you shouldn't start trading this system until you have written rules that take out all freedom and discretion.

I am not familiar with trading view. If I didn't have renko, I would try range bars. Renko is simply a type of range bar. I think the range bar is the key to this system, not the renko, not the Heikin Ashi. If Ninjatrader were taken away from me tomorrow, I think I could still trade this system using a platform that didn't have renko or didn't allow heikin ashi to be applied to renko.

Here is 5 range OHLC with the ema's



And here is the 5 range bar with the 4-9-18 ema system which I also like.


Whatever system and bar you use, even if it is something completely different from rocky's system, please do take this thought to heart: What really matters is not the system. What matters is having a set of rules that tells you without variance when to get in, when to get out, and when to take a profit. There caan be no thinking by you. For many years I chased the "discretionary trader dream" and it is a fool's errand I assure you. If I knew how to program Ninjatrader, I could program this system to be completely automonmus from me. The rules are tight and solid and allow no room for me to think of reasons why I shouldn't take this signal or why I should trade here even though there isn't a signal.

The succeess and failure in trading is inside each and everyone of us.

It is not the system. It is your ability to follow the system unquestioningly and unerringly and unconditionally and unemotionally, no matter what the market throws at you.

Good luck!

thank you for taking the time to allow tutoring .

i am actually a newbie in trading and want to do this part time and hopefully supply a side income.
i am not there earning that money and still trying to find a way to balance in 8-5 work life, father and trader.

i found your approach really tempting because I felt that there are tight rules that can compensate for poor composure and luck of disciple, that’s why I am very keen on your posts.

thank you for your advise.
i think I ll keep myself down two markets US30 and oil fand maybe a forex pair like eurusd or gbpusd


i ll share some setups on my TradingView and maybe we can share some insights


best of luck although I think that is t a luck thing after all is about mastering our feelings and becoming disciplined

i am around 70 ticks up for today on us30 with the 4-9-18 Ema setup

i ll try the same tomorrow

Thanks Vidvad for all of your sharing. From what I got from Rockypoint and yourself, I feel more committed than ever to stick to my rules, and enter on signal. I had such a bad trading habit of moving my stops and am now convinced that approach is foolishness. Having a 10 tick stop loss feels very comfortable with this strategy

Great work! You may have found the instrument you should focus on for the next few months.

I suggest sticking to one instrument, and if you are trading a US stock index, then trade between 8:30 AM and 11:30 AM and be done with it. Alays check the FF calendar and beware of any potentially market moving news.

About the 4-9-18: I bought a book way back in 2005 on using the 4-9-18 moving averages. I read it, couldn't figure out how to make it work, and put it away. I picked it up again for the first time this summer, and here I am, 17 years later the light bulb goes on!

I am sharing in this thread because I hope there will be at least one person like you who shouldn't have to wait for 17 years before realizing that the solution isn't the system. The solution is the trader. Even a simple 3 ema system can work in today's markets so long as your head is screwed on right.

Success and failure both are inside each of us. We each determine for him- or herself which we get to experience as traders.

I risk 12 ticks on the ES (3 points or $150/contract) and I risk 10 ticks on the 6B, which is only $62.50/contract.

If you are trading with a forex or CFD broker who plays with their spreads, you might need an extra couple of ticks. If you are trading futures, those are sufficient under current conditions.

Just make your rules and follow the rules.

If you vea a losing trade, it isn't the rules' fault and isn't your fault: That is just what the market threw at you that time.

Mark Douglas, Trading in the Zone is a great book. He covers alot of the stuff you will be hearing me say. I read him a long time ago. I thought I understood him and I thought I was using his concepts and principles. I was, but imperfectly and incompletely.

Moving from discretionary PA to rule based indi's has been a mind opener.