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Attachments: Goldflight's RENKO strategy
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Goldflight's RENKO strategy

Quoting pilotui
Thanks Sir

Your welcome.
I AM WHAT I AM, AND THATS ALL THAT I AM
Quoting saendee
Goldflight system looks great what time U start trading each day many thanks in advance

Normaly i start at British open, but because of my health lately i have been sleeping in. Also i have been looking at brokers so i havent had a need to get up early untill i settle on one and go live.
I AM WHAT I AM, AND THATS ALL THAT I AM
Quoting astom
Yesterday, I maked about 70pips with new setup, that for my account means 5~7%. There a moments, that i was SHORT, and system show me reverse( show to buy), with pop up, but the luck was with me, hehe, And system was wrong this time. Analysing, 80% of trades with system was profitable. This is a sucess for me.

Obs: I trade only in open australian market, when the major currency pair ae cold. Basically, I trade with aus/jpy and aus/usd. I tried with NZD, But The spread is very high(fxdd) gave up this currency. Other detail is that i work with...
Good job astom, I think you will find less false signals when you start using 10 pip blocks. that was my conclusion when i was trying 5 pip.
I AM WHAT I AM, AND THATS ALL THAT I AM
got EU and UC started. GU seems to be ranging so i will wait on it.
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I AM WHAT I AM, AND THATS ALL THAT I AM
Took +20 pips on EU. Got back in EU, and started GU. UC still running.
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I AM WHAT I AM, AND THATS ALL THAT I AM
I love it when a plan comes together.
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I AM WHAT I AM, AND THATS ALL THAT I AM
How do you handle the ranging periods Goldflight ???

I mean if you could post some sharts with ranging periods and how you handle those.


Right now I am about +50 pips on EUR/JPY alone !!!


Thanks
  • Post #288
  • Quote
  • Edited 11:14am Oct 20, 2010 11:03am | Edited 11:14am
Quoting maxwell-eqtn
How do you handle the ranging periods Goldflight ???
Look for HH/HL or LH/LL and trend change or continuation. GU was ranging this morning, so i waited till i got a signal i was comfortable with. ( Blue line)
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I AM WHAT I AM, AND THATS ALL THAT I AM
Sorry i had blue line on wrong block. this block was my signal. Previous chart was block i took trade........
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I AM WHAT I AM, AND THATS ALL THAT I AM
Thanks Goldflight, it appears you are also using trend lines ?

It is nice when everything is trending man !!!
I have closed my position for gain of +66 pips on EUR/JPY alone, not trying to be greedy !!
Quoting maxwell-eqtn
Thanks Goldflight, it appears you are also using trend lines ?

It is nice when everything is trending man !!!
I have closed my position for gain of +66 pips on EUR/JPY alone, not trying to be greedy !!

Excellent job Maxwell-eqtn. Yes i put fractals on my chart and use trendlines to help me see my charts and what they are doing better.
I AM WHAT I AM, AND THATS ALL THAT I AM
It appears the market is gaining back all what it losed yesterday.... !
  • Post #293
  • Quote
  • Edited 11:49am Oct 20, 2010 11:28am | Edited 11:49am
Closed out for the day. USDCAD +32 --- GBPUSD +89 ---- EURUSD +99 total of 240 pips for today. See you all tommorow.

Happy Pipping........................
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I AM WHAT I AM, AND THATS ALL THAT I AM
Good job GF!

Made my first renko trades today (demo). Was focusing on EU before work. Fell for the short headfake before the breakout and lost a quick 40. Put on a trade before going to work ended up +100. +60 for the day on EU (even with the mistake) was good.

The stop management EA you posted earlier helped alot.

What pairs do you usually follow? Which give you the most potential for trades/profit?

Thanks again! Following your posts closely.

SC
Hello, Goldflight.
Thank you for sharing your strategy.
Could you summarize the latest rules of your system?
Quoting Goldflight
Closed out for the day. USDCAD +32 --- GBPUSD +89 ---- EURUSD +99 total of 240 pips for today. See you all tommorow.

Happy Pipping........................
So GF, is there a specific indicator that you use to alert when a trade setup might be correct?

Or is it a combination of analysis of all your indy's that lead you to know when a trade is setting up (although Renko can be tricky, and blow through 2 or 3 blocks in a 2 min time)

I"m just trying to get a better grasp as to what the deciding factor is to triggering a buy/sell order.

THanks
Quoting scarecrow93
Good job GF!

Made my first renko trades today (demo). Was focusing on EU before work. Fell for the short headfake before the breakout and lost a quick 40. Put on a trade before going to work ended up +100. +60 for the day on EU (even with the mistake) was good.

The stop management EA you posted earlier helped alot.

What pairs do you usually follow? Which give you the most potential for trades/profit?

Thanks again! Following your posts closely.

SC

Great job scarecrow93, The pairs i am watching now are EURUSD, GBPUSD, and USDCAD.
I AM WHAT I AM, AND THATS ALL THAT I AM
Quoting Forwarder
Hello, Goldflight.
Thank you for sharing your strategy.
Could you summarize the latest rules of your system?

Here are the rules,

AO turns green--- 1 EMA (on AO) crosses above 3 EMA (on AO) --- ADX 10 green crosses above red--- BUY.

AO turns orange--- 1 EMA (on AO) crosses below 3 EMA (on AO)--- ADX 10 red crosses above green--- SELL.

These are what you want to watch for Higher highs/higher lows---Lower highs/lower lows--- Support and Resistance--- The 1 and 3 EMA's--- AO color--- ADX--- Trend--- news.
I AM WHAT I AM, AND THATS ALL THAT I AM
Quoting pilotui
So GF, is there a specific indicator that you use to alert when a trade setup might be correct?

Or is it a combination of analysis of all your indy's that lead you to know when a trade is setting up (although Renko can be tricky, and blow through 2 or 3 blocks in a 2 min time)

I"m just trying to get a better grasp as to what the deciding factor is to triggering a buy/sell order.

THanks

It is the combination of all the indies. Go back through my charts and see where i took my trades and see what the indies are saying. The rules i posted again in my previous post.
I AM WHAT I AM, AND THATS ALL THAT I AM
Gone short on EURUSD...
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