Hi Edge. Since I am not comfortable trading anything but the 1 HR time frames will the Renko bars Help me.
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DislikedHi Edge. Since I am not comfortable trading anything but the 1 HR time frames will the Renko bars Help me.Ignored
Disliked[b]Could anybody please explain how this money management works out... I'm not sure why we are trading EU, GU, EJ and AU. 3/4 Pairs is based upon USD.
It seems like when your trading your throwing 4x the amount of eggs in the basket. Why not stick to one pair, like EU?
If you need more gain/pip increase your lot size.
I'm not trying to bash the concept, just understand it.
As for me, right now my trading plan only requires 10 pips per day. Trading an additional 3 pairs just seems like I'm throwing myself into a minefield. For instance, there...Ignored
DislikedI did a quick visual test. Results assume winners are worth 8 pips and losers are worth 22 pips. These trades all occurred within the 24th (according to my platform time), so this does also not take into account times where Edge does not trade.
22 Wins = +220 pips
7 Losses = -140 Pips
29 Total = +80 pips
Since the renko bar only paints after a full ten pips, I figured the maximum loss would be 20 pips + spread, since we would wait for a new bar to paint and a trix cross back over...Ignored
DislikedHave taken a look at the mlq and TS (my) Renko setups with 10 tic blocks and there is a bit of difference as expected.
However, it remains to be seen until Sunday live feed as to whether or not this is going to be significant. My initial thought is that either will work, you just have to do as we always do. You do what?????
Yep!!! IMPROVISE ...Ignored
DislikedWell it seems the replies I've had to my last post have come from people who did not exactly read my entire last post very well!
1) I, in no way, put down edge's system in anyway. It's a Great method and enjoy tradin it!
2) I never said anywhere in my last post that things should not be discussed on here. In fact, feel free to discuss whatever you want! I choose to read what I want and skip what I don't want to read.
3) My post clearly stated that I was interested to hear if anyone wanted a NEW thread started to talk about and post charts that...Ignored
DislikedAlso for those that don't wish to purchase the Renko script, the VT Trader platform (free, CMS forex runs it but the main site also has a demo account) and FXSol's Accucharts package also has Renko charts built in. As always their demo account feeds are free, and it is a cheap way to get Renko if you dont mind using another platform other than MT4 for charting. As a side note, both platforms include TRIX as a standard indicator.Ignored
DislikedJust fired up my VT Platform... unfortunately, it looks like you can't overlay the MA (or any other indis) onto the chart though, much the same as you can't when using point and figure either... unless someone knows something I don't?Ignored