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  • #361
  • Apr 20, 2024 8:39pm Apr 20, 2024 8:39pm
Excellent info thx Vidvad. I can see in my minds eye what I want to achieve - now to find a way to make this work for me and make it my own. I have the very basics of Renko and how a new bar is formed but add the HA to it gives it another dimension. Thx for the Renko link. time for me to get up to speed on these plus the HA's so I understand what I am looking at.
I am pretty familiar with using NT auto trade strategies. Now to master using the Status Indy.
  • #362
  • Apr 21, 2024 8:17am Apr 21, 2024 8:17am
Renko OHLC vs HA OHLC, same "bar"

The HA candle is an indicator. The renko candle is also an indicator (as is any price bar/candle) but it is "closer" to the actual data than the HA canlde. This is because the HA candle is based on the price of previous candles.

But even renko is not as close to the data as, say, a standard ohlc or standard Japanese candlestick is.

The fact that this method is using a combination of candles neither of which are an accurate depiction of the actual prices traded during that candle is precisely why the method really doesn't work well without using the bar status indicator.

My consistency with the method went up astronomically when I found and added the bar status indicator to its execution.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #363
  • Apr 21, 2024 8:27am Apr 21, 2024 8:27am
You might find watching a chart set up like this would be helpful to observe some of the nuances of renko & HA. Do this when you are not trying to trade it. Just watch this chart for an hour or two and see if any light bulbs go off.

Top panel is the renko HA as we use it, middle panel is renko using open/close candles, the bottom panel using OHLC.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #364
  • Apr 21, 2024 12:35pm Apr 21, 2024 12:35pm
I was going through some of my old trading journals and I came across this gem from Al Brooks:

"If you want to compete, you must minimize all distractions and all inputs other than what is on the chart in front of you, and trust that if you do, you will make a lot of money. It will seem unreal, but it is very real. Never question it. Just keep things simple and follow your simple rules. It is extremely difficult to do something simple consistently, but in my opinion, it is the best way to trade." - Al Brooks

I don't know if that was from his book, his video course, a webinar I may have watched. I only wrote the quote and did not make a note of where he said or wrote it originally. But it is great advice. It struck me as important when I copied it into my journal. I continued for quite a while to make this trading game more complicated than it needed to be.

On Friday I posted that I was trading the NQ and "Every one of these trades had a fixed +41 tick profit target. I used the bar status indicator to properly set my entry orders. I was focused only on the chart - no youtube, no FF, no twitter. Just me and the chart, focused 100% on the process and letting the outcome of each trade take care of itself."

It is funny how these snippets of wisdom strike us and then seem to be forgotten, and yet when the time is right they germinate and sprout and grow in our own minds and habits and become a part of our own wisdom.

Never stop studying, never stop reading. You never know when you are going to read a passage that will prove to be one of the keys to success you've been looking for and it may not open its particular lock for you until years afterward.
Life itself is a privilege, but to live life to the fullest is a choice
  • #365
  • Apr 21, 2024 12:52pm Apr 21, 2024 12:52pm
Quoting vidvad
I was going through some of my old trading journals and I came across this gem from Al Brooks: "If you want to compete, you must minimize all distractions and all inputs other than what is on the chart in front of you, and trust that if you do, you will make a lot of money. It will seem unreal, but it is very real. Never question it. Just keep things simple and follow your simple rules. It is extremely difficult to do something simple consistently, but in my opinion, it is the best way to trade." - Al Brooks I don't know if that was from his book,...
some Al Brooks stuff i have lying around
Attached File(s)
File Type: pdf Al Brooks - Trading Price Action Ranges.pdf   9.9 MB | 1,590 downloads
  • #366
  • Apr 21, 2024 12:53pm Apr 21, 2024 12:53pm
Quoting T721
{quote} some Al Brooks stuff i have lying around {image}
Have a few others but says file too big, sorry guys
  • #367
  • Apr 21, 2024 2:27pm Apr 21, 2024 2:27pm
Quoting T721
{quote} some Al Brooks stuff i have lying around {image}
I bought Al Brooks's video course years ago and I think it is excellent. It definitely helped my development. I had his first book, the Trading Bar by Bar. For some reason I couldn't make sense of it lol. Thankfully his video course is much more accessible.
Life itself is a privilege, but to live life to the fullest is a choice
  • #368
  • Apr 21, 2024 2:51pm Apr 21, 2024 2:51pm
Quoting vidvad
I bought Al Brooks's video course years ago and I think it is excellent.
The same for all of us, I think. It’s really excellent.

Quoting vidvad
I had his first book, the Trading Bar by Bar. For some reason I couldn't make sense of it lol.
For the same reason as everyone else, I think: it’s dreadfully badly written.

His three later books are far better.

He (half-jokingly) says, himself, that he wrote the later ones “to apologise for the first one”!
  • #369
  • Apr 21, 2024 3:51pm Apr 21, 2024 3:51pm
I added th Brooks quote to my chart for the upcoming week. I'm still backed up with work, but I'm hoping to get a lttile action on the NQ renko-HA
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Life itself is a privilege, but to live life to the fullest is a choice
  • #370
  • Apr 22, 2024 5:43pm Apr 22, 2024 5:43pm
Day 9 results:
Note the 3rd trade could easily been a loss too but price jumped back so fast from the trigger bar close that the entry price was not touched.

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  • #371
  • Apr 23, 2024 7:54am Apr 23, 2024 7:54am
Quoting binnie
Day 9 results: Note the 3rd trade could easily been a loss too but price jumped back so fast from the trigger bar close that the entry price was not touched. {image} {image}
Retraced to the 34 ema is a set up. You were attempting to get in when everyone who got short on the pullback was taking profits. You were lucky that your trade was not triggered.
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Life itself is a privilege, but to live life to the fullest is a choice
  • #372
  • Apr 23, 2024 7:55am Apr 23, 2024 7:55am
I got logged out of discrod and now I'm having an impossible time "proving" that I am a human lol

Anyone ever have this happen. I can't get logged back in. It just keeps giving the challenges "click on all the buses" "click on all the stairs" "click on all the mortorcycles"
Life itself is a privilege, but to live life to the fullest is a choice
  • #373
  • Apr 23, 2024 11:58am Apr 23, 2024 11:58am
Quoting vidvad
I got logged out of discrod and now I'm having an impossible time "proving" that I am a human lol Anyone ever have this happen. I can't get logged back in. It just keeps giving the challenges "click on all the buses" "click on all the stairs" "click on all the mortorcycles"
Try deleting then log back in. Discord can be a pain for sure
  • #374
  • Apr 23, 2024 5:16pm Apr 23, 2024 5:16pm
Day 10 now over.
Unusual set ups today. Following my conditions strictly, there was only 1 legitimate trigger. Turned out to be a loss but what was interesting today is the number of signals that printed but I could not engage because the Ma's were not playing the game. I have marked these A B C & D .
Trade A showed the *8 above the 34 so no Shorts allowed.
Trades B C & D all had intertwined Ma's - no strong direction.

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  • #375
  • Apr 23, 2024 5:26pm Apr 23, 2024 5:26pm
Takeaways from my exercise:
Swing Levels are visual aid only to where price might react.
Using every signal at these Swing Levels often gets me into a trade that is already exhausted.
The condition I had for there to be space between the Ma's is not as important as the direction. Still use the 34 as the filter to determine long or short.
Good repeat signals can print in & out of the Ma's so look for reaction around these levels.
NQ can be highly volatile so I need to start planning a management strategy to protect against a whipsaw move that wipes out my points and turns my trade from a winning position to a loser. Suggestions have already been made by others about getting to Break Even ++ as soon as possible.

Will find a way to keep this as simple & mechanical as possible.
  • #376
  • Apr 23, 2024 6:02pm Apr 23, 2024 6:02pm
For NQ, at the moment, gong to +5 ticks when profit is +25 ticks has been working. But you'll still get stopped out of a few +41 tick winners before they have a chance to ripen.
Life itself is a privilege, but to live life to the fullest is a choice
  • #377
  • Apr 23, 2024 6:14pm Apr 23, 2024 6:14pm
Quoting vidvad
For NQ, at the moment, gong to +5 ticks when profit is +25 ticks has been working. But you'll still get stopped out of a few +41 tick winners before they have a chance to ripen.
For MES ive been using 10 contracts with a -20 tick SL so when I get 10+ ticks I exit 5 contracts and move my SL to +10 ticks
  • #378
  • Apr 26, 2024 9:19am Apr 26, 2024 9:19am
I'll be signing out of FF for a while to take a social media break and concentrate on a project my discord buddies and I working on.

If you try to reach me here, I'll get back to you when I get back.

Trade well.
Life itself is a privilege, but to live life to the fullest is a choice
  • #379
  • May 10, 2024 6:13am May 10, 2024 6:13am
Still at work with a small group study of like-minded FF buddies as we work together in our discord. We are all working on ourselves at this point more than a method. We are all trading the same system currently, very similar to the renko-HA you see here, but we have ditched the renko and the heiken ashi in favor of plain, old-fashioned ohlc bars.
Life itself is a privilege, but to live life to the fullest is a choice
  • #380
  • May 29, 2024 2:17pm May 29, 2024 2:17pm
Not my graphic, but it is one I saved.

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I saw a post on FF earlier that caused me to remember this graphic.

Also made me think there is a difference between "system" and "strategy."

A system is the specific variables one uses to define an edge and the plan to exploit that edge, i.e. system = tactics.

A strategy, on the other hand, defines the general methodology that informs and defines your trading plan.

For example, my main strategy is to buy dips and scalp for a profit, or sell rips and scalp for a profit. So my strategy is a trend pullback entry strategy.

I do experiment with various tactics, e.g. the moving average used, the bar interval used, the instrument I am trading.

I think it is well and good to experiment with and change up one's trading tactics. But one should define what sort of trading strategy one is most comfortable. Trend follower? Breakout trader? Range reversal trader?

Pick a strategy, then work on your tactics.
Life itself is a privilege, but to live life to the fullest is a choice
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