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Quoting binnie
{image} Better start to the day
Hey Binnie try the 34 tick bricks, isn't that what Vidvad used on fast days.
Quoting rockypoint
{quote} Hey Binnie try the 34 tick bricks, isn't that what Vidvad used on fast days.
Yep Rocky - will check that out thx. Turned to custard after a good start. Too much indecision then speed of bars got me as well. I think the NQ may be a bit beyond me at this early stage. I 'll check on the 34 brick and might have a look to morrow on the MES.
It's hard to identify what might be a good trade - I don't want to have indicators all over the place - I will try a market replay just taking every trade warts 'n all.
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It'll give me something to do over the weekend
Quoting binnie
{quote} Yep Rocky - will check that out thx. Turned to custard after a good start. Too much indecision then speed of bars got me as well. I think the NQ may be a bit beyond me at this early stage. I 'll check on the 34 brick and might have a look to morrow on the MES. It's hard to identify what might be a good trade - I don't want to have indicators all over the place - I will try a market replay just taking every trade warts 'n all. {image} It'll give me something to do over the weekend ...
NQ isn't the problem, the problem is it is in "ride the dragon" mode. Anyone who was trading forex back during the glory days from 2006 to about 2012 will remember how the GBPJPY used to trade. NQ is very similar right now.

34 renko minimum right now, imo.

A better instrument for you binnie would be the YM.

I'd suggest looking at the 13 renko YM at the moment.

When volatility kicks in like this I often revert to time based candle charts, e.g. 2 minute, 5 minute, etc.

My favorite is the ES M5.
My objective is to learn the skill of flawless execution of my trading plan
Hey Vid - good to hear from you mate. Thx for the suggestion re YM 13. Just found the NQ showed me no respect at all and I am usually left flat footed when price makes a sudden move on me LOL
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All going good for you & the other guys?? Regards from here.
Sloppy jumpy PA today, hoping to see PA consolidate for a bit.
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3 more trades. 2 wins and a loss, for now I'm just an observer. PA still sloppy.
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Done for the week. Will go back to 1-2 cts. on ES Monday. Everyone have a great weekend. Going to break out the jet skis this weekend. It's been awhile.
binnie, keep in mind you are also trading what seems to be the portion of the US session least productive of consistently tradable and profitable moves.

Maybe consider shifting your trading window a bit later and trade the Globex open through the Tokyo open? That would be 6 PM to 8 PM Eastern time.

August 1, 2024

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May 15, 2024 (13 renko is too large when volatility is low
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May 21, 2024 5 renko
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The point of course is the old saw that we have to trade the market we have, not the one we want. For you, that might mean you need to adjust your trading hours outside of the block of time you would prefer. It would mean also adjusting renko size to current volatility. When trading this method on the NQ, I found using Fib #'s took the thinking out of it for me: 5, 8, 13, 21, 34 ... I never used a 55 renko to trade NQ but maybe on the very volatile sessions that would be appropriate?

The only block of time I know of that consistently offers opportunity in the US index futures is the 9:30 AM to 10:30 AM NYC time hour. If you want a 5 hour work week, that is your power hour, imo.
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My objective is to learn the skill of flawless execution of my trading plan
Very easy start to the week, obvious signals strong PA 2 large wins. Back to ES trading 2 contracts for now.
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That's it for me today 4 more trades small win and loss, plus 2 large wins on classic squeeze set ups. Wind came back today so, going out to Playa encanto for some kite boarding.
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Kind of sloppy PA 2 nice wins a small win and a loss. Going to take a break for a bit and see if PA steadies a bit.
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Again sloppy PA, testing my patience. Hung in on first trade, second and third trades out quicker PA even more sloppy.
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Last trade, done for the day. Errands to run.
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Did not trade today.
I've been lurking here for a few months. Love the thread.
Rocky - nice trading Wednesday. that wasn't easy price action and you still managed to make some profit.

Question for the group. I've had up and down success, but the biggest challenge is that I tend to have losing trades on false break-outs or when a period of consolidation looks to be over but I'm a few bars early (it continues to range/consolidate for a bit longer). Any tips on identifying when a move is breaking out of consolidation? It feels like maybe some of the volume indicators could help, but unsure. Maybe it's just more reps?

Cheers, and thanks for all the effort you've put into this thread
Quoting rockypoint
Last trade, done for the day. Errands to run. {image}
What made you step away from renko?
A day for scalping, once I got to 10-12 ticks profit started looking exits. Not my favorite way to trade but it makes some dinero.
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Quoting bucklyrudd
I've been lurking here for a few months. Love the thread. Rocky - nice trading Wednesday. that wasn't easy price action and you still managed to make some profit. Question for the group. I've had up and down success, but the biggest challenge is that I tend to have losing trades on false break-outs or when a period of consolidation looks to be over but I'm a few bars early (it continues to range/consolidate for a bit longer). Any tips on identifying when a move is breaking out of consolidation? It feels like maybe some of the volume indicators could...
For me key to this is if it's looking to be a false breakout get out and don't let your stop get hit, take a small hit and look for a re-entry. The TTM squeeze indicator is pretty good for catching a breakout.
Quoting Bjjman95
{quote} What made you step away from renko?
The reason i stepped away from Heiken Ashi/Renko hybrid is strictly because of of a computer error I've been unable to resolve. I have a windows error no one's be able to fix 0x80070017. That prevents me from using both my heiken/renko custom ind. and my cum. volume delta ind.
So back to a system I've used successfully in the past. I tried heiken/tick candles and heiken/volume candles but didn't find them in my comfort zone.
Quoting rockypoint
{quote} For me key to this is if it's looking to be a false breakout get out and don't let your stop get hit, take a small hit and look for a re-entry. The TTM squeeze indicator is pretty good for catching a breakout.

That makes sense. I’ll look into that indicator.

Most of last week felt like scalping days. Had a few good trades but had a lot of small wins and losses before I realized scalping was the strategy.
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