Williams%R, SAR X-over 15 minute candles

The most important thing is to become consistently profitable, as you can scale it up as much as you want when you are consistent. In my eyes, everyone who is consistently profitable is a potential millionaire. My goal is to become consistent, learn when not to enter trades, and effectively manage my emotions. I admire how you've added your own twist, and I aim to do the same with time. I also don't often see other traders sharing valuable information, and that's why, after a month of reading everything, saving the charts to crack the code, I created an account to be part of this thread and to be able to ask questions and share my trades and get pointed on where I made mistakes if i don't see it myself. I will try to share my trades whenever i can and ofcouse also the loosing ones.

Thank you Vidvad, You are looking at a root cause of my problem !!!!!!!!! and you are right, I must confess, I think I'm "strategy bouncing".
Ok, I admitted it, I think it's a first step.
Much appreciated for "opening door" allowing for to "Share the good, the bad, and the ugly". I love your statement : "We're are each on our own, but we don't have to be alone. We are all in this together when it comes to learning."
I want to think about a plan and figure out next step. ... Well, I did not see video yet, I think this is what I will do next.
Again, thank you very much for your support.

You and are of the same mind. ABA! Ed777 can tell you I've been working with an excel spreadsheet of a while that I use to show that applying the principle of compounding to a small consistent profit you take a small amount into the millions much more quickly than one would think.

The difficulty is not finding the method.

The difficulty is finding the emotional discipline to just go ahead and do it!

Some things that helped me in the early days of the rocky method:

1) 9:15 to 9:30 AM Eastern(pre-market): I trade the premarket. However, as we get closer to the NYSE open, I get more cautious. I trail my stop tighter. If I am close to my profit target, e.g. 15 poits or +60 ticks on MNQ/NQ, I'll just take what profit I have before the bell.

2) 9:30 to 9:35 AM Eastern: I treated this as a "no trade" zone. Price moves quickly, and often lacks follow through as big institutions come into the market.

3) Long Only: I only took long trades for a long time. Frankly, I'm not sure why I stopped. Probably I got caught up in the bear market that started late 2021 or so. But if I were starting today, I'd commit to long only trades for the next 10 or even 20 trades. It builds discipline by teaching you to wait for your set up, and if the market gets choppy it will typically cut your losses by half since you are skipping the trades where it looks like you should be short. I know most won't want to limit themselves to long only.

In the charts below, the 9:15 - 9:30 is shaded gray, and the 9:0 to 9:35 "no trade zone" is shaded red. You can see that many more renko candles are printed in the first 5 minutes of the NYSE open than in the 15 minutes just before the open.

2-9-2024 The pink line is the previous day's high. A short entry during the 9:15 - 9:30 zone of caution went to the profit target at the previous daya's high of day. I always have the previous day's high and low, the previous week's high and low, and today's Globex open marked on my chart. I use these as both take profit levels and as areas to watch for breakouts and reversals. After the take profit, I marked what would have been a short sell signal for me during the no trade zone. This trade would have been quickly stopped for a loss. I marked the first short sell signal candle AFTER the end of the no trade zone and this went to a +60 tick profit. The next pink down arrow was either a small loss, breakeve, or very small profit IF you recognized the basing at the lows. The renko candles are, imo, the BEST at giving a quick heads up that a potential low (or high) is getting hammered out.


2-8-2024 The no trade zone kept me out of two, possibly three losing long trades. A nice long that tested the Globex open set up off a nice base that the renko candles highlight better than any other candle I have used.

2-07-2024 During the no trade zone, I marked three potential long entries with small green UP arrows. Any one of these entries would have resulted in a losing trade. Upon leaving the no trade zone, it was just a matter of waiting for price to signal which way it was going to go. Short signal candle is marked with a pink DOWN arrow. For me, the signal candle is NOT the entry candle. The nature of renko HA is that the signal candle CLOSES, and entry will be at the open of the next candle using a sell stop for shorts, or buy stop for longs.



2-06-2024 On this day, there was a profitable long signal in the no trade zone that would have reached +60 ticks. This was a breakout/continuation of the previous day's high. That breakout then failed and the first short signal occurred during the no trade zone, which also would have been +60 ticks. The next short signal would have been +60 ticks, and the signal after that likely a breakeven stop.

2-05-2024 Monday's open was a pure hot mess. Price crossed back and forth all the ema's, the 8 ema low twice crossed below and then back above the 34 ema. Just before the no trade zone closed there was a failed breakout of the opening range highs. If you were trading both long and shorts you'd have probably killed your spirit if not your account during those first 5 minutes. Had you used the 34 ema rule, you would have avoided two if not three losing shorts, but you'd still have taken three, possibly four losing longs. I marked the first short signal with a pink down arrow, and the take profit was at the green horizontal line, which is the globex open.

Note the 34 ema during the cation periods as well: During the open, the 34 ema was up sloping at maybe a 20 to 25 degree angle. By the time the first short signal, it was clearly sloping down at what one could see is approximately a 45 degree angle. The best rocky trades occur when price action is causing the 34 ema to rise or fall at a steep rather than shallow angle.

It's interesting and usefull to see someone else's interpretation of the same charts as I also look at the Nasdaq. It's a CFD, but the chart is still pretty much the same. Still working out the kinks on my end, but what I have is looking actualy very close to Rocky's current method. A tip for those strugling to use the ADX as it is. On whatever platform you use there are probably user generated scripts that convert the ADX to a candle/brick color overlay. For me it makes things clearer.

hi rocky, I understand how you are using the ADX. Would you mind sharing a few words on how the MACD fits in with your current approach. I've looked at a bunch of your charts and I just haven't been able to figure it out.

Thanks!

I was going through my old 4-9-18 journal and this is still one of my own personal favorites for trading the rocky method. Look at that brock size ... 10 renko on the ES lol

If you tried a 10 renko on the ES now that chart would probably show almost an entire week! That is the difference between trading ES with VIX above 20 - 25 and VIX getting ready to head back into the single digits.



Still rocky's method, just using different ema's for trend and trigger. But very much a rocky approach.

with good execution and experience how profitable is this strategy?

TX
Do you mind sharing your swing low/high indi?

Everyone is different. Think "Turtle Traders." They had the same method but each had different results, some even lost overall. The short answer is that your profitability depends on you and you only find that out by trying it.

Everyone on the path from newbie to profitable journeyman should start his or her day with this video. And it should be a focused listen, not playing in the background while looking at charts, and reading forex factory. You'll better understand why your question, while perfectly normal for one toas, has no answer.

Proving Every Strategy Fails + A Guide On What DOES Work. (youtube.com)

As turnip said in his reply to you, we are each different. Isy your learning laser focused on learning the system or is this just one strategy stone among many as you hop from one to another without ever learning enough about yourself to learn whether this strategy is for you or not.

The swing high/low indicator is built into the ninjatrader platform. If you are using ninjatrader, open the indicator menu, scroll down to the indicator named "swing," and click add to add it to your chart.


If you are using MT4 or MT5 I do not know whether you'd have to go find it from a third party or if a similar indicator is included with those platforms.

Good luck!

No trading for me today. I was in the hospital at 6AM for eye surgery and three hours later I was home. However, for today I can only see out of my left eye and I feel a bit dizzy, so I'm not going to risk it. Might not be trading tomorrow either. I am watching the charts.

ES/MES so far has been a big nothing.

NQ the same - a big nothing.

CL on the other hand looks like it is a good mover for now at least.

I know rocky has a few new FF members following along. This is a great method if it fits your mentality and you put the work in.

renko HA candles are not like time based candles. Before you try trading using this method, even sim trading it, I'd suggest you spend at least a few days during the active hours of the market just watching how these candles form. This method I think looks deceptively easy in hindsight. What you can't see on a hindsight chart is how much these canldes can completely change from the time one opens until it finally closes.

Would just like to point out that although I agree with a lot of what ImanTrading says he is still not consistently profitable (he says so in many of his videos). He sounds honest and does expose some grifters on youtube, but that does not make up for the fact that he can not do the thing he talks about.

It seems to me that you have likely missed the most important message that iman conveys in his videos.

99.9999999% of the trading videos on youtube are by failed traders. They are almost everyone of the to a man or woman a fraud.

Iman is honest about his journey.

The message in Iman's video I linked to above is, imo, essential for success. Understanding that message is not sufficient to achieve success, but it is a necessary condition of being able eventually to become a consistently profitable trader.

Just because someone is still on the journey does not mean what they are sharing is wrong or devoid of value.

The journey to consistent profitability is exactly that: A journey.

It is not an event.

Trading success will not come from reading a book or watching a video.

It comes from making the journey. It comes from studying your method. It comes from watching hours upon hours of live market data stream across your screen.

It comes from trading. Practice, practice, practice.

Another youtube trader who is honest about his journey is Robert Anderson. Robert Anderson recently blew up his 10 Apex funded accounts. Does this mean his content should be ignored? Deleted from youtube? Deemed completely worthless?

How Blowing 10 PA Accounts Still Seems Positive In My Journey - YouTube

Not in my opinion.

Iman himself has passed an evaluation and is now trading a funded account. Most people who try to pass an evaluation NEVER pass the Evalution and NEVER become a funded trader.

Anderson has passed multiple evaluations. He has taken many more times in profit draws from his funded accounts than he paid for them. Then he blew them up.

Who you going to learn from more: an honest trader like Iman and Anderson who show that they trade and show their ups and downs, or one of the many youtube trading cult leaders who NEVER show a real account, NEVER show an actual trade in real time, and claim to be million dollar traders and yet get ALL their income from youtube views?

I'd hate for someone to come here to rocky's thread and then read you little comment throwing shade at Iman and as a result instead of doing a deep dive into what iman has to say that person decides iman isn't worth watching because he is still on the path and not sitting on a beach sipping drinks and living off his day trading profits.

Big fat nothing today incredibly flat market. Recovery day for me anyway. Party weekend 2 days of celebrating my 70th Birthday. Plus Super Bowl. So weekend of indulgence. Too much good food and Tequila/Cerveza. My wife gave me a surf vacation to somewhere entirely new Ericeira Portugal, Heard of it being a great spot but some how never got there to check it out.

Happy Birthday, rocky!

Just a few minutes ago the ES would have given an entry I'd have taken (marked with small green arrow).

I'm not trading today. But if I were, that would have been a very late first trade.

thanks im using mt4 and the original system before it changed to renko

My little comment?! I have a feeling you are taking this personally. Ok I will try to break down what I just said. Sharing your journey is fine. Hey look I tried this and it did not work, I tried that and it did work. This is a journey. Sharing your thoughts about this and that, the dumb things that you did. Great. These are all things to learn from. It's great that he posts regular live trading videos. It's nice that he got funded, but it means as much as you throwing a coin and it landing 10 times on tails.

Doing stuff like "Proving Every Strategy Fails + A Guide On What DOES Work" or "Why you (we lol) aren't consistently profitable and how to overcome it" is not that. He is not there yet. Has not done it and yet he is telling you how to do it. How can you prove anything when you can't do the thing? How can you know what works? Slowly stepping in the guru territory and another case of a blind man leading the blind. He does this for the income and these types of videos pay very well. It's a massive contradiction and if you disagree than please feel free to block me and ignore all my future posts. I don't post often so no biggy.

Up about 15 points or +60 ticks from what would have been the entry and no sign of a reversal. Nice move after a very lethargic start.