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Goldflight's RENKO strategy

  • #81
  • Aug 13, 2010 10:44am Aug 13, 2010 10:44am
Hi Goldflight,

Since you're using 10 pip bars, if at the time of your trading start if you are already in a trend run, how do you re-enter it? Do you wait for a pullback, given that it could be a long wait!

Also, do you find a 15 pip sl too tight, since a 10 pip renko will potentially move a max of nearly 30 pips to show a bar in the other direction.

Thanks
  • #82
  • Aug 16, 2010 12:22am Aug 16, 2010 12:22am
Sir,

Goldflight:
Your post#72
===========

Anyone else using this? Let me know how you are doin---

---
could u kindly let me know, whether u r buying & selling only at pivot points only? ie., s1, s2, r1, r2, wpp? clarify. Also i am not getting buy, sell instructions on m3 templates(offline). ie., as shown in screenshot
in this post. What is your exit entry with stop loss. Kindly show me
a screenshot with marking & oblige.

I am using your template, but not getting the profits, very rare profits
in demo testing. Thanks in advance.





blue jet
16 aug 2010
  • #83
  • Aug 16, 2010 4:10am Aug 16, 2010 4:10am
Quoting Pardy
Hi Goldflight,

Since you're using 10 pip bars, if at the time of your trading start if you are already in a trend run, how do you re-enter it? Do you wait for a pullback, given that it could be a long wait!

Also, do you find a 15 pip sl too tight, since a 10 pip renko will potentially move a max of nearly 30 pips to show a bar in the other direction.

Thanks
Yes, wait for a pullback and see if indies are still giving signal to go.

I use a s/l of 30 pips to allow for price movement.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #84
  • Edited 4:34am Aug 16, 2010 4:18am | Edited 4:34am
Quoting bluejet
Sir,

Goldflight:
Your post#72
===========

Anyone else using this? Let me know how you are doin---

---
could u kindly let me know, whether u r buying & selling only at pivot points only? ie., s1, s2, r1, r2, wpp? clarify. Also i am not getting buy, sell instructions on m3 templates(offline). ie., as shown in screenshot
in this post. What is your exit entry with stop loss. Kindly show me
a screenshot with marking & oblige.

I am using your template, but not getting the profits, very rare profits
in demo testing. Thanks in advance....

Check post #71 for new template.
Rules HA Smoothed green-- 1 EMA (white) crosses 3 EMA (red) which are on MACD-- Bill Williams Awsome indi turns green-- TDI green crosses red going up-- ADX 14 crosses---BUY.

HA Smoothed white-- 1 EMA (white) crosses 3 EMA (red) that is on MACD-- Awsome indi turns red-- TDI green crosses red going down-- ADX 14 crosses-- SELL.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #85
  • Aug 18, 2010 9:51am Aug 18, 2010 9:51am
Hello Goldflight,

Thank you very much for posting your Renko strategy and variations here. I have been working around Heiken Ashi and Renko in recent times to tweak my style as I feel they offer very clear signals.

I have been running the version you put up in post #35 (the one with the Heiken Ashi) and am up 375 pips so far this evening across a few of the major pairs. I am pretty pumped about this! The couple of extra indicators you added in addition to the Heiken Ashi and Renko have really made a difference.

Just wanted to say THANKS and may many pips come your way! I plan to lurk in this thread and post my trades as I go. I hope others will join in and carry on working with what is a great system.

Let's go snare some pips!

Ezakimak
  • #86
  • Aug 18, 2010 10:01am Aug 18, 2010 10:01am
Quoting Ezakimak
Hello Goldflight,

Thank you very much for posting your Renko strategy and variations here. I have been working around Heiken Ashi and Renko in recent times to tweak my style as I feel they offer very clear signals.

I have been running the version you put up in post #35 (the one with the Heiken Ashi) and am up 375 pips so far this evening across a few of the major pairs. I am pretty pumped about this! The couple of extra indicators you added in addition to the Heiken Ashi and Renko have really made a difference.

Just wanted to say THANKS and...

Hello Ezakimak.
Thank you for your kind words. I am glad this is working for you. Here is my trades for today. I only traded GBPUSD today for a profit of +142. Tired now so i will be back tommorow.



Good pipping to all.
Attached Image (click to enlarge)
Click to Enlarge Name: screen shots 1.gif Size: 37 KB
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #87
  • Aug 19, 2010 3:48am Aug 19, 2010 3:48am
Hi guys,

Hope you had a good day wherever you are. Melbourne could not decide whether it wanted to rain or shine today!

I have one eye on the AUDUSD 1H chart at the moment. Waiting for 7pm to roll around to see if we are gonna jump in. Looks good at the moment....

Ezakimak
Attached Image (click to enlarge)
Click to Enlarge Name: Trade.jpg Size: 81 KB
  • #88
  • Aug 19, 2010 4:31am Aug 19, 2010 4:31am
Okay, the set up I posted before was still looking good at 7pm so I kicked off a trade:

AUDUSD

Entry: 0.89988

Currently 80 pips in the positive. Stop Loss has been moved to lock in a couple of pips so no matter what happens now, this will be a winner! Put on a Trailing Stop of 75 pips, lets see how we go!

Ezakimak
Attached Image (click to enlarge)
Click to Enlarge Name: Trade2.jpg Size: 75 KB
  • #89
  • Aug 19, 2010 4:56am Aug 19, 2010 4:56am
Alrighty, AUDUSD trade update:

AUDUSD

Trade closed at 0.90001

Profit: +14

This was as high as 95 in profit, had it got to 100 probably would have stopped it manually there, but since I had a Trailing Stop, I thought I would let it run.

Happy to snaffle 14 pips!

Most of the other majors are showing promising signs....watch this space....

Ezakimak
  • #90
  • Aug 19, 2010 5:54am Aug 19, 2010 5:54am
Hello team,

Just closed a trade on USDCHF with this system with 34 pips profit. Am a bit gutted about this one, it went as far as 220 pips into profit, but my wife was using the laptop and my Trailing Stop didn't start for some reason, I only got small bite of the pie! Never mind, some pips is better than no pips!

Up 48 pips for the night and now some good setups taking shape on EURUSD, USDJPY and even the USDCAD might be resuming the downtrend it has been in for a while.

Watchingwatchingwatchingtradingwatchingwatchingwatching...

Ezakimak
  • #91
  • Aug 19, 2010 6:21am Aug 19, 2010 6:21am
Those three pairs I mentioned before all looked good at the turn of the hour so I have set off the trades as follows:

USDCAD sold @ 1.02672
EURUSD bought @ 1.28368
USDJPY sold @ 85.568

As I type this, they are all in the positive. Let's see how we go....

Ezakimak
  • #92
  • Aug 19, 2010 7:04am Aug 19, 2010 7:04am
Okay, those three trades I mentioned before are now closed, all with profit:

USDCAD sold @ 1.02672 closed @ 1.02591 profit of +81
EURUSD bought @ 1.28368 closed @ 1.28391 profit of +23
USDJPY sold @ 85.568 closed @ 85.523 profit of +45

That's me for the night, its 10pm and I better log off now or I will be up all night!

Total pips for the night: 197

NICE!

Nite nite.

Ezakimak
  • #93
  • Aug 19, 2010 7:09am Aug 19, 2010 7:09am
Quoting Ezakimak
Okay, those three trades I mentioned before are now closed, all with profit:

USDCAD sold @ 1.02672 closed @ 1.02591 profit of +81
EURUSD bought @ 1.28368 closed @ 1.28391 profit of +23
USDJPY sold @ 85.568 closed @ 85.523 profit of +45

That's me for the night, its 10pm and I better log off now or I will be up all night!

Total pips for the night: 197

NICE!

Nite nite.

Ezakimak

Great job. Glad this is working for you.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #94
  • Aug 19, 2010 8:43am Aug 19, 2010 8:43am
Hi Goldflight, have you thought about adding an alert to the ADX?
I've searched the the FF threads and looked at a lot of ADX indicators that they added alerts to but none seem to work correctly.

It would be nice to not have to watch the charts 24X5 waiting for a setup.

thanks for all the great work
  • #95
  • Aug 19, 2010 11:51am Aug 19, 2010 11:51am
sir,
Goldflight
#post 84
========

Check post #71 for new template.

Rules HA Smoothed green-- 1 EMA (white) crosses 3 EMA (red) which are on MACD-- Bill Williams Awsome indi turns green-- TDI green crosses red going up-- ADX 14 crosses---BUY.

HA Smoothed white-- 1 EMA (white) crosses 3 EMA (red) that is on MACD-- Awsome indi turns red-- TDI green crosses red going down-- ADX 14 crosses-- SELL.[/quote]

===

Extremely sorry for asking question again. have not understood properly
your trading methods/skills.

1. Do u trade & make entries on M3 (offline) template directions/decisions?

2. Do u also look for higher time frames directions before making entries?
(ie., buy or sell) & what is your stoploss normally?

3. Should the TDI Green crosses Red going UP both for buy (including or above Yellow line ) & vice versa?

4. What is that magenta lines showing on the scren shot? give me some
additional info.

I hope you will not mistake me. Thanks for understanding.


bluejet
19th aug 2010
  • #96
  • Aug 20, 2010 2:52am Aug 20, 2010 2:52am
Quoting Ezakimak
Okay, those three trades I mentioned before are now closed, all with profit:

USDCAD sold @ 1.02672 closed @ 1.02591 profit of +81
EURUSD bought @ 1.28368 closed @ 1.28391 profit of +23
USDJPY sold @ 85.568 closed @ 85.523 profit of +45

That's me for the night, its 10pm and I better log off now or I will be up all night!

Total pips for the night: 197

NICE!

Nite nite.

Ezakimak
Seems you use a 5-digit-broker... So all in all your real proft is only 19,7 Pip???
  • #97
  • Aug 20, 2010 3:02am Aug 20, 2010 3:02am
Right, this 5 decimal stuff from these bucketshop brokers is only meant to sucker in more victims to believe forex is an easy goldmine.
  • #98
  • Aug 20, 2010 5:26am Aug 20, 2010 5:26am
Quoting Freddyfx
Right, this 5 decimal stuff from these bucketshop brokers is only meant to sucker in more victims to believe forex is an easy goldmine.
Hi Freddyfx,

Are you serious with this comment? Sometimes sarcasm is hard to pick up in forums....

Ezakimak
  • #99
  • Aug 20, 2010 5:28am Aug 20, 2010 5:28am
Quoting nightyhawk
Seems you use a 5-digit-broker... So all in all your real proft is only 19,7 Pip???
That's right, I have a micro account with my broker with which you can trade with lots as small one cent if that is what you want to do. Great way to learn the ropes while not risking too much money.

Ezakimak
  • #100
  • Aug 20, 2010 6:20am Aug 20, 2010 6:20am
Quoting pcguy007
Hi Goldflight, have you thought about adding an alert to the ADX?
I've searched the the FF threads and looked at a lot of ADX indicators that they added alerts to but none seem to work correctly.

It would be nice to not have to watch the charts 24X5 waiting for a setup.

thanks for all the great work

If you are looking for an alert indi, you can put on this coral indi. It gives an alert when it crosses and it is about the same time as ADX 14 crosses.
Attached File(s)
File Type: ex4 Coral.ex4   6 KB | 664 downloads
I AM WHAT I AM, AND THATS ALL THAT I AM
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