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  • #301
  • Mar 26, 2024 12:45pm Mar 26, 2024 12:45pm
Quoting iwan73
L entry . SL reached. {image}
Hi Iwan - is that sierra charts.? Hard to compare with Vidvad's 21 Renko - HA charts. and my NinjaTrader doesn't have FlexRenko that I can look at for you.
  • #302
  • Mar 26, 2024 3:17pm Mar 26, 2024 3:17pm
A new work project that I was just made aware of last week i staking far more time than I had initially thought it would take. My trading and therefore posting will be severely curtailed at least through the end of this week. Friday the NYSE is closed so I wouldn't be trading Friday anyway.

Here is my hindsight annotations on 21 renko NQ.
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Life itself is a privilege, but to live life to the fullest is a choice
  • #303
  • Mar 26, 2024 3:19pm Mar 26, 2024 3:19pm
Quoting binnie
{image} Would this be something you would take Vid ?
Yes, I think so.

However, I think the level at which you marked yesterday's high is not quite altogether accurate. I have yesterday's high at 15598.50 on NQ on the renko chart.
Life itself is a privilege, but to live life to the fullest is a choice
  • #304
  • Mar 26, 2024 3:58pm Mar 26, 2024 3:58pm
Quoting vidvad
{quote} Yes, I think so. However, I think the level at which you marked yesterday's high is not quite altogether accurate. I have yesterday's high at 15598.50 on NQ on the renko chart.
You are so correct mate - my error . Woulda been a nice ride eh? My draft plan is to TP at next swing level but a more seasoned trader might have been able to add a couple more towards that next High.
If you were thinking about this trade - would you jump at 1 tick past that lower level or just set a Stop Limit at that level & wait for price to jump you in? Assuming of course that the rest of your conditions are A ok.
  • #305
  • Mar 26, 2024 4:01pm Mar 26, 2024 4:01pm
Quoting binnie
{quote} You are so correct mate - my error . Woulda been a nice ride eh? My draft plan is to TP at next swing level but a more seasoned trader might have been able to add a couple more towards that next High. If you were thinking about this trade - would you jump at 1 tick past that lower level or just set a Stop Limit at that level & wait for price to jump you in? Assuming of course that the rest of your conditions are A ok.
It is always difficult in hindsight with these renko HA charts to say exactly what I would have done. But had I taken a long there, it would have been with a buy stop order using the bar status indicator to determine the exact order placement.
Life itself is a privilege, but to live life to the fullest is a choice
  • #306
  • Mar 27, 2024 1:04pm Mar 27, 2024 1:04pm
That late day rally looks very much like a news spike. Does anyone know if there was a news catalyst?
Life itself is a privilege, but to live life to the fullest is a choice
  • #307
  • Mar 27, 2024 1:05pm Mar 27, 2024 1:05pm
Renko HA Swings on London Open. Looks great in hindsight ( as always ) but something there to look further I think. The method seems very solid but not possible for me to be screen bound for US Open. I will continue this trial for a few days and post findings in case others are interested in finding alternative to New York hours.

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  • #308
  • Mar 27, 2024 1:11pm Mar 27, 2024 1:11pm
Quoting vidvad
That late day rally looks very much like a news spike. Does anyone know if there was a news catalyst?
US Dollar Short-term Outlook: USD Bulls March into April
From forex.com|1 hr 40 min ago

Could this be it?
How you getting on VV
The HiLo on ES was a good one.
  • #309
  • Mar 27, 2024 1:56pm Mar 27, 2024 1:56pm
Quoting binnie
{quote} US Dollar Short-term Outlook: USD Bulls March into April From forex.com|1 hr 40 min ago Could this be it? How you getting on VV The HiLo on ES was a good one.

Maybe they are expecting the market to rally off the GDP numbers tomorrow morning so they started today?

Maybe "buy the rumor, sell the news?"

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Life itself is a privilege, but to live life to the fullest is a choice
  • #310
  • Mar 27, 2024 2:28pm Mar 27, 2024 2:28pm
Quoting vidvad
That late day rally looks very much like a news spike. Does anyone know if there was a news catalyst?
end of the month/quarter rebalancing for large funds (pensions etc.) probably more tmro.
regards
goma
  • #311
  • Mar 27, 2024 5:19pm Mar 27, 2024 5:19pm
Quoting goma
{quote} end of the month/quarter rebalancing for large funds (pensions etc.) probably more tmro. regards goma
Forgot all about it being the end of Q1. Thanks, goma.
Life itself is a privilege, but to live life to the fullest is a choice
  • #312
  • Edited Apr 3, 2024 7:27am Apr 2, 2024 1:17pm | Edited Apr 3, 2024 7:27am
“There’s a lotof delusions of grandeur out there. A lot of people think they can go out there, spend a day and pull $1,000 of gold out of the ground,” Hurd says. “I’ve done that once or twice, and those were really lucky days. I’ve had thousands of days I find nothing at all. It’s hard to make a living on just finding gold.”

If you've been trying to stake a claim and take a regular profit from the market for some period of time like me, you might appreciate this article about modern day gold prospectors.

The Lone Prospectors Keeping the Legacy of the Gold Rush Alive (getpocket.com)
Life itself is a privilege, but to live life to the fullest is a choice
  • #313
  • Apr 9, 2024 6:17am Apr 9, 2024 6:17am
And if they are traders, they end of going broke ...

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Life itself is a privilege, but to live life to the fullest is a choice
  • #314
  • Apr 10, 2024 5:28pm Apr 10, 2024 5:28pm
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With an OK from Vidvad, I am going to post my take on his Renko / Ha ideas. Finally got my NT8 sorted in such a way that it appeals to my eye so my chart shows me what I THINK I need to see. My trade session will be for 2 hours only & cover NZ Time 7am to 9am. This is the pre close New York 3pm to 5pm and for anyone else interested, it is London time 8pm to 10pm.

Indicators are –
Repeater v2 to show my trade session time
8 ema high & low as a channel which I use as a sort of booster
34 ema as a direction
Swing at default 5 strength to identify possible reaction levels and also target areas
Previous Day High & Low
Previous Week High & Low

I do not use any other indies like RSI /Macd /Stoch etc.

There will be a lot of ways to trade this method and I will try & compile my set of rules & conditions. I hope that others in here can critique and / or add to the discussion and who knows – in the end we might get something that is quite robust & tradeable.
Lets see where this goes.
  • #315
  • Edited 8:38pm Apr 10, 2024 6:09pm | Edited 8:38pm
7 possible set ups today. Candles can form very fast so need to be concentrating fully when price nears trade levels. I have noticed that intra candle action can be highly volatile and price tends to whipsaw back & forth while it is forming. I am still establishing a Risk / Reward that I will be comfortable with.
I will describe reasons for the trades indicated and will then dig deeper to find a way of seeing an end result – either positive or a loss.
The intention is to find repetitive action that might allow me to extract a few points ( 4 ticks to 1 point on the MNQ )

Here goes….
Trade in direction of 34 ema
Long trades > 8 ema channel above 34 ema with space between. Ema’s flat or touching = No Trade
Short trades > 8 ema channel below 34 ema with space between. Ema’s flat or touching = No Trade
Enter with Market Order on close of candle that has broken either a previous swing or a PDL/PDH or PWH/PWL (Previous Daily High/Low or Previous Weekly High /Low)
Targets will take a bit of research but starting with 40 / 40 or previous Swing / past high low levels.

I take on board Vid's advice about the last hour and also the possible earnings releases post market. Of course definitely no trading leading into RED news and definitely no open trades at those times.

Over the next few hours I will use market replay to identify how these marked trades would have resulted. More to follow
  • #316
  • Apr 10, 2024 6:29pm Apr 10, 2024 6:29pm
Quoting binnie
{image} With an OK from Vidvad, I am going to post my take on his Renko / Ha ideas.
credit to rockypoint as well as without him I'd have never thought to put renko and HA together!
Life itself is a privilege, but to live life to the fullest is a choice
  • #317
  • Apr 10, 2024 6:30pm Apr 10, 2024 6:30pm
Quoting binnie
{image} Lets see where this goes.
Looking forward to your journey, binnie!
Life itself is a privilege, but to live life to the fullest is a choice
  • #318
  • Apr 10, 2024 6:34pm Apr 10, 2024 6:34pm
Given your trade window, binnie, you'll want to maximize your efficiency during that first hour. The final NYSE hour can be very good. The final hour of trading before the Globex pause can be hit or miss. You'll want to pay attention to things like the 3:50 market on close when orders flood the market. Also, it would probably be a good idea to monitor WHEN certain high profitable companies are releasing earnings. For example, if Amazon is coming out with earnings after the bell, maybe treat it like red news. Let the earnings be released and the first move take place, and then take it from there.
Life itself is a privilege, but to live life to the fullest is a choice
  • #319
  • Apr 10, 2024 8:42pm Apr 10, 2024 8:42pm
Thx Vid - your advice is always welcome.
I have edited post 315 to include 1st draft of rules & conditions. I hope I am on the right course here.
Yes & thanks to Rocky also.
  • #320
  • Apr 11, 2024 3:23am Apr 11, 2024 3:23am
The first look at how the trades unfolded. Not a great starting result. First impression is that entries were far too late. A fair chunk of the move is almost over in a lot of cases. The trades were over real fast - there is no time to THINK or double guess whether a trigger is going to be a good one. All charts look great in hindsight when we can see what's actually happened. Anyway - I will go again tomorrow morning

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