Renko Trading For Gamers (RTFG)

Hi Petar
Just thought I'd share one of my renko strategies, fantastic when trending and keeps you out of most bad ranges.
Shown a chart here with a nice trend which turns into a nasty range..............
Happy trading!

Hello there,

I see BB Macd is like range detector,cool combination..Fell free to post your setups and comments..

Cheers
Petar

Yes just scalped a nice 50 pips off the US employment figures, that's my beer money for the week!

Hi, forex1962

could you please share your indicators and template with rules?

I was searching for a strategy like yours...thanks in advance.

PS: 5 pip block renko chart?

Some AUD setups

Hi, i renew my request. Please can you share indicators and details of your setup, please?

Hello members,

Can anyone tell me how to avoid these type of ranges????

Thanx in advance

Hello there,
First of all welcome back Pip26 i didnt see you long time..
About how to avoid range,that is problem in every strartegy becouse withaout range (flaty) period Forex woulld be easy.I can tell you one thing about your question.You can avoid in range period with good moneymengament and size positioning all others is just loosing time (my thought).

Feel free to post charts and trade safe
Petar

You can't avoid ranges. You just have to suffer a drawdown.

Last two weeks were for example horrible for my account, I lost about 15 times in a row (with two wins inbetween). That happenes maybe once in a few years. And because I risk a little less than 2% per trade I am not out of the game.

I wish my capital were much bigger and I could trade with 1% risk or less. Undercapitalization is another reason ranges are bad.

I also limit myself to 2 trades per day, so I don't lose 10 times in one single day. If market is unhealthy for two weeks, maximum times you lose is 20 times (much less likely than 15) and still stay in the game after a draw down.

People who became billionairs trading financial instruments still have loosing months and years. There is nothing you can do. And over time, the draw down would not matter too much, because one should be in profit if he follow rules. Being excited about one trade or sad about draw down makes no sense, since it is all trades combined that in the end say whether you make money or not. That's also the reason one should not listen to tips, as they are single trades and have no influence on how much money you will make. (unless it's insider info hehe).

I think the most important rule in any trading is too look at trading as a sum of all of your trades. From that perspective, everything makes much more sense and the screenshot you've posted would not matter in the end. From that perspective you can derive that the win ratio is inversely proportional to how much money you make. The higher the win ratio, the less money you make. Funny, huh? One who is chacing a higher win ratio is more likely to close a winning few pips trade and have his looser run longer in hope to close it at a few pips profit which, however, will most likely end up being a margin call or a large loss which, as I stated, is why he makes less money. Of course, there are people with high win ratio making good money, but as a general rule, comparing all traders together, those having an 80% win ratio make less money than those having 55%.

Sorry, I expanded the subject, but there is only one principle of making money in trading and that is to look at everything at the same time and not at single trades. Dollars won divided by dollars lost is the profit factor and is probably one of the most important numbers to look at, but win ratio is irrelevat.

Don't worry about those ranges, I was hit by them and nothing bad happened

I have tried attached the renko live chart v3.2 to my chart but when I click on it nothing happens.

Attached below is my chart.
Can anyone please help me?

Hello there,
You must turn on expert.You expert it turned off,you can click on icon Expext Advisor in platfrom and you will turn Expert.Then you must go to Offline chart to open M2 chart.Just find pair where you was add advisor and click on M2 offline for that pair.

Cheers
Petar

great job !!

thanks all

Hello folks,
Is this thread dead? Where has everyone gone to?
heloooooo

I think FF's Market tab would be a great tool to use with renko etc.
Which way is USD pairs pips going verus EUR crosses in the last 60 mins?
Does it agree with your renko setup trend direction?
Any fundamental news moving either today in the right direction?

Hi Petar, box sizes in your last few posts seem to be larger (using the whole retracement range) than the rules described in post #11370 (using a half-body and the candle before the half-body candle).

Is this a new rule?

Dan

Usually good ragin of box is 100-120 pips and lower but if you see larger you can also trade but of course with stric low risk..Remember,low risk is much important thing in MM...
Feel free to post your chart,setups...
Cheers
Petar

Hi Petar

Thanks for the quick reply, though I don't really understand it, haha
I dun have any trading system yet n charts to show yet, still new, n continuous losing $$$.

Wishing u lots of green pips!
Dan

I notices a very nasty bug with renko:

When using size 10 renko, it needs about 25pips for a opposite block to appear (sometimes they appear less than 25, sometimes only near 30, in average 25).

So, when there is a move of 25 pips against you and then it moves back, the blocks often don't change, BUT if you restart MT4, the chart changes and the change is all of a sudden there.

Tested different computers, different brokers, it happens always.

Hm,
Can you show on chart what you talk


Cheers
Petar

yes, but it has to happen again hehe