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  • #401
  • Sep 6, 2009 8:53pm Sep 6, 2009 8:53pm
I have calmed down and decided to continue as not to do so would be churlish and would be akin to cutting off my nose despite my face!! I just do not like selfish people. Sorry for my dummy spit!

I have noticed a strange occurence on my 10 pip EJ renko chart - not the first time - but now and then an earlier bar repaints disturbingly. On the attached chart, the 5th bar back has taken off and seems to be following current PA. Has anyone else experienced this and/or has anyone any ideas. This really causes concern for breakout trades as it can give a false fractal.
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  • #402
  • Sep 6, 2009 8:59pm Sep 6, 2009 8:59pm
Glad to see you back scartree.
I have never seen a renko candle repaint that way, however when I enable candle wicks then sometimes when I open charts, the wicks are completely screwy. So I have disabled wicks, seems to cause more problems than not.
But no repainting of actual bars like you show.

Quoting scartree
I have calmed down and decided to continue as not to do so would be churlish and would be akin to cutting off my nose despite my face!! I just do not like selfish people. Sorry for my dummy spit!

I have noticed a strange occurence on my 10 pip EJ renko chart - not the first time - but now and then an earlier bar repaints disturbingly. On the attached chart, the 5th bar back has taken off and seems to be following current PA. Has anyone else experienced this and/or has anyone any ideas. This really causes concern for breakout trades as it can give...
******************* I'd rather make money than be right.
  • #403
  • Sep 6, 2009 9:25pm Sep 6, 2009 9:25pm
Thanks 4xStar - on all fronts.

I do not have the wicks enabled - but those candles that malform or repaint grow wicks!! Look at the chart - there is an earlier on a couple of bars earlier. Maybe someone else has a clue as to why...?

Regards Karl
  • #404
  • Sep 6, 2009 10:06pm Sep 6, 2009 10:06pm
Quoting scartree
Thanks 4xStar - on all fronts.

I do not have the wicks enabled - but those candles that malform or repaint grow wicks!! Look at the chart - there is an earlier on a couple of bars earlier. Maybe someone else has a clue as to why...?

Regards Karl
Do you have the latest version installed? Usually the fix for program problems is to uninstall/re-install.
******************* I'd rather make money than be right.
  • #405
  • Sep 6, 2009 10:07pm Sep 6, 2009 10:07pm
Quoting scartree
Thanks 4xStar - on all fronts.

I do not have the wicks enabled - but those candles that malform or repaint grow wicks!! Look at the chart - there is an earlier on a couple of bars earlier. Maybe someone else has a clue as to why...?

Regards Karl
If you're using the commercial version (s-renko), send a copy of your chart to the author...
Old Benjamin was right
  • #406
  • Sep 6, 2009 10:54pm Sep 6, 2009 10:54pm
Hi Lou
The Quik EA is a money management tool which I find easy to use and very effectve. Works on any trade regardless of chart type.

I am watching an intersting development on GJ which may be of interest. I am looking at a potential breakout which could go either way. I have stop orders placed at 152.91 (long) and 152.38 (short). I am inclined to favour the short side - momentum is dropping away but the short term trend is still up.... Its a wait and see situation. I am enjoying these breakout trade situations - had an earlier one today which had 16 pip drawdown but eventually made the TP. Not sure I would let the drawdown go that far if trading live - I am on demo.

Either trade will be run by the Quik EA - 5 pip TP with 21 pip SL.

Karl
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  • #407
  • Sep 6, 2009 11:06pm Sep 6, 2009 11:06pm
I am going to have to go out so will have to cancel my pending orders. What would be ideal is to be able 'set and forget' in this situation. If either order is filled, the other would be cancelled - the 'OCO' (one cancels other) order as in other markets. The EA would then manage the trade - either stopped at SL or TP for loss or profit.

Does anyone have a script that would replicate an OCO order? I trade index futures and this is an order type that I frequently use.
  • #408
  • Sep 7, 2009 1:53am Sep 7, 2009 1:53am
Pleased that I cancelled that trade. My long would have been filled but it would not have given 5 pips before retracing and taking out the SL of 21 pips. Nasty! Other JPY pairs are still trending up so I haven't given up on this happening with the GJ. Waiting for the London open to see some better action. Its a good strategy but NOT perfect!
  • #409
  • Sep 7, 2009 2:23am Sep 7, 2009 2:23am
Quoting scartree
Its a good strategy but NOT perfect!
There is no such thing as a perfect strategy. It's not the strategy. Take a good look at your charts. It's staring you in the face. Why are you even thinking about trading? You have to be able to identify a choppy market. There is also no pair correlation. Right now it is all over the place.

Say this over and over again.

Making money is less to do with taking winning trades and more to do with knowing when not to trade.
  • #410
  • Sep 7, 2009 2:27am Sep 7, 2009 2:27am
Quoting scartree
I am going to have to go out so will have to cancel my pending orders.
Nothing wrong with pending orders. I use them when I swing trade one hour charts. But forget about it with scalping. Go in at market and set MT4 to a 1 pip slippage.
  • #411
  • Sep 7, 2009 2:43am Sep 7, 2009 2:43am
Hi Slush - I guess it proved to be a good breakout after all. All it needed was a bit of volatility to light a fire under it!! I think that there was correlation and that is why I thought it could work out OK. If we all saw the same things and interpreted things the same way, then there would be no market!! I was trying to show a trade in real time wih some newbie commentary. I appreciate your input though - thanks.
K
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  • #412
  • Sep 7, 2009 2:51am Sep 7, 2009 2:51am
Slush - would you not say that there was correlation between AJ, UJ, NJ and AJ at present? If not, could you define correlation. I am not sure in my own mind how far trends need to go to be correlated.
K
  • #413
  • Sep 7, 2009 2:56am Sep 7, 2009 2:56am
Sorry -my chart didn't copy - upload. Have another go!
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  • #414
  • Sep 7, 2009 2:56am Sep 7, 2009 2:56am
Quoting scartree
Slush - would you not say that there was correlation between AJ, UJ, NJ and AJ at present? If not, could you define correlation. I am not sure in my own mind how far trends need to go to be correlated.
K
I'm only watching EJ, GJ and AJ on nitro. They did come into correlation a few minutes ago, but I'm also watching the EJ on the M5 and it's very choppy.
  • #415
  • Sep 7, 2009 3:00am Sep 7, 2009 3:00am
I don't like the look of the market at all today. No trading for me. Tomorrow should be better after the US holiday.
  • #416
  • Sep 7, 2009 3:59am Sep 7, 2009 3:59am
Asia dead today. Took the London trade at 10:24, late getting in and baled out at +1 when it ran out of steam. Whoopee !!! ( would have made the +7 if I had left it). No trading for the rest of the day
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  • #417
  • Sep 7, 2009 4:07am Sep 7, 2009 4:07am
Thank you, this is a very good system!
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  • #418
  • Sep 7, 2009 7:36am Sep 7, 2009 7:36am
Quoting SlushFund
I don't like the look of the market at all today. No trading for me. Tomorrow should be better after the US holiday.
Agree .. it is deader than the dodo .. except for occasional strange movements, very low probability today.
******************* I'd rather make money than be right.
  • #419
  • Sep 7, 2009 7:41am Sep 7, 2009 7:41am
Quoting scartree
Sorry -my chart didn't copy - upload. Have another go!
If I see 3 of 4 yen crosses moving in the same direction on renko, I consider that to be correlation. I prefer at least 2 brick renko bars on each in the same direction. If the 4th is a bit off, then I will still take a trade on the strongest pair .. but if 4th is in sync I might go for trading the 2 strongest pairs.
Usually I judge strength by speed of movement, i.e. if bricks forming more rapidly on one pair, that for me would be the strongest. The 5 pip bar is very useful for determining strength this way IMO.
******************* I'd rather make money than be right.
  • #420
  • Sep 7, 2009 7:54am Sep 7, 2009 7:54am
Very slow market today...

Anyway 2 trades to be done...

On the 2nd trade i've been in the market for a while...trying to catch a little bigger movement...

I'm experimenting some settings with the multi purpose trade manager... i think it could make the R/R ratio much better...trying to catch the bigger movements without risking more...
Unfortunately today it's not the best day to try it..but when the market moves fast...some good movements (40/70 pips) heppens...and with these settings i think is possible to capture a good part of them...
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Market is like a puzzle, YOU have to fit the pieces!!
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