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  • #685,921
  • Aug 29, 2012 4:02pm Aug 29, 2012 4:02pm
Quoting attila
Hmm... that makes it a little difficult, I agree.. Forex is extremely wild with moves out of the blue.. This may not be the best for you. Can you trade other slower markets that would make for smaller stops? I found s&p very forgiving (I'm not trading it, but entertaining the idea). There might be others, but with so few set ups, maybe forex is not right for your system..
Well, my system first of all is based on renko charts. I looked at using it on normal charts but I couldn't see an advantage SL wise and it's much messier. I actually thought about stocks but I don't think that would give me a smaller SL since I use 20 10 pip renko blocks for SL- I would have to do the same on s&p or aapl or whatever.

With stocks I still might be able to diversify. I looked at ninjatrader for this purpose but its renko charts suck. I need to look up how to install a better renko indi in it before I can do anything. The built in renko has dummy renko blocks for the ends of sessions or something. I dont want those to mess anything up.
  • #685,922
  • Aug 29, 2012 4:04pm Aug 29, 2012 4:04pm
Quoting Mike8
Good morning all. Market has not moved much.

Attila, I would enter here, data without pippette would help better define the breaking point.
Completely agree, IRB..
  • #685,923
  • Aug 29, 2012 4:08pm Aug 29, 2012 4:08pm
Quoting SpacyTrader
Well, my system first of all is based on renko charts. I looked at using it on normal charts but I couldn't see an advantage SL wise and it's much messier. I actually thought about stocks but I don't think that would give me a smaller SL since I use 20 10 pip renko blocks for SL- I would have to do the same on s&p or aapl or whatever.

With stocks I still might be able to diversify. I looked at ninjatrader for this purpose but its renko charts suck. I need to look up how to install a better renko indi in it before I can do anything. The built...
For some reason I never liked renko charts.. Maybe I didn't study them long enough.. There was a time when I used range charts pretty successfully. They had them on QuoteTracker but the software + data feed It was coming up to around 60 bux/month. Now Ameritrade discontinued QuoteTracker for general use, I believe.. There was also an 8 days data limit on QT, which sucked..
  • #685,924
  • Aug 29, 2012 4:11pm Aug 29, 2012 4:11pm
Quoting Vachus
Oh boy , on the one hour tf it doesn't look good for long at all - long time i haven't seen this pattern
Could you please elaborate? (still learning how to read patterns and your view would be highly appreciated)
  • #685,925
  • Aug 29, 2012 4:12pm Aug 29, 2012 4:12pm
Quoting fearlessnut
I still dont get why people are shorting euro :|
Long all the way to 1.27xx by friday we'll be there
i would love to do that , but i would love more is a stop lose that is not margin call
"It's the Margin, Stupid."
  • #685,926
  • Aug 29, 2012 4:12pm Aug 29, 2012 4:12pm
Quoting attila
Completely agree, IRB..
"Men who can both be right and sit tight are uncommon."
  • #685,927
  • Aug 29, 2012 4:17pm Aug 29, 2012 4:17pm
Quoting Mike8
This was a pretty nice one too, but I missed it while arguing with that rustyspoon idiot..

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 89 KB
  • #685,928
  • Aug 29, 2012 4:25pm Aug 29, 2012 4:25pm
Quoting attila
For some reason I never liked renko charts.. Maybe I didn't study them long enough.. There was a time when I used range charts pretty successfully. They had them on QuoteTracker but the software + data feed It was coming up to around 60 bux/month. Now Ameritrade discontinued QuoteTracker for general use, I believe.. There was also an 8 days data limit on QT, which sucked..
Well, range bars are better at showing consolidation areas and I think they'd be better for oscilators and such while renko only shows you the raw sustained movements of a certain definition- 5, 10 pips etc. I think renko shows the most concise chart of price movements.

After I make my fortune I must visit Japan since if it weren't for the japanese I dont think I would have been able to assemble my system on the messy time charts.
  • #685,929
  • Aug 29, 2012 4:27pm Aug 29, 2012 4:27pm
Quoting attila
This was a pretty nice one too, but I missed it while arguing with that rustyspoon idiot..

Attachment
Yes, do you see how the average is pushing slowly the price out of the box? Pre-tension., struggle and double pressure.

Attila, you cannot post if you trade this way, when I do I shut everything off completely, focus is most essential.

I only do it when I can sit down for an hour or so and knowing that I am not going to be disturbed.

I think this way of trading is suitable specially for those days where prices are going nowhere. Today I am going to have a look again only from Frankie.

I need to download at least 2 hours of tick data to my Amibroker software, so I will be able to get the fluctuation only in pips.

I will probably post some charts, when finished to trade.
"Men who can both be right and sit tight are uncommon."
  • #685,930
  • Aug 29, 2012 4:27pm Aug 29, 2012 4:27pm
Quoting SpacyTrader
Well, range bars are better at showing consolidation areas and I think they'd be better for oscilators and such while renko only shows you the raw sustained movements of a certain definition- 5, 10 pips etc. I think renko shows the most concise chart of price movements.

After I make my fortune I must visit Japan since if it weren't for the japanese I dont think I would have been able to assemble my system on the messy time charts.
I'm sure renko works. After all, the Japanese gave us the candlesticks..
  • #685,931
  • Aug 29, 2012 4:29pm Aug 29, 2012 4:29pm
Quoting Mike8
Yes, do you see how the average is pushing slowly the price out of the box? Pre-tension.

Attila, you cannot post if you trade this way, when I do I shut everything off completely, focus is most essential.
You are right. I'm just taking this week more lightly, as it's extremely slow.. Next week I'm not going to be here this much.
  • #685,932
  • Aug 29, 2012 4:30pm Aug 29, 2012 4:30pm
Quoting sidhujag
friday should bring it back up
Or further down
New voice message: Why are you calling me? If I need you, I'll call you!
  • #685,933
  • Aug 29, 2012 4:31pm Aug 29, 2012 4:31pm
Quoting attila
I'm sure renko works. After all, the Japanese gave us the candlesticks..
Yup. From Steve Nison's japanese candlestick stuff I then got to renko.
  • #685,934
  • Aug 29, 2012 4:33pm Aug 29, 2012 4:33pm
Quoting KillerWhale
Or further down
Hey was waiting for you to get bak here!
Should I cover my AUDUSD shorts? Bear seem to loose ground? or am I mistaken?
  • #685,935
  • Aug 29, 2012 4:37pm Aug 29, 2012 4:37pm
Quoting SpacyTrader
Yup. From Steve Nison's japanese candlestick stuff I then got to renko.
yes. That's the Bible of candlesticks. Read it all several times...
  • #685,936
  • Aug 29, 2012 4:37pm Aug 29, 2012 4:37pm
Quoting attila
You are right. I'm just taking this week more lightly, as it's extremely slow.. Next week I'm not going to be here this much.
Absolutly, because we need to be able to feel the force, the struggle between the parts and jump on the wagon once one of the part lets go of the rope creating the double pressure.

How can we do that if our mind is disturbed? I think it will not be easy. I tried, it does not work for me.
"Men who can both be right and sit tight are uncommon."
  • #685,937
  • Aug 29, 2012 4:39pm Aug 29, 2012 4:39pm
Quoting Faiz99
Hey was waiting for you to get bak here!
Should I cover my AUDUSD shorts? Bear seem to loose ground? or am I mistaken?
It is losing some momentum but I expect it to go further down in September.
I don't expect any soon QE from Jackson Hole for a push-up.
I will try to hold my short's till target 1.0180, unless 1.0411 breaks. Then I'll be out of short.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #685,938
  • Aug 29, 2012 4:40pm Aug 29, 2012 4:40pm
Quoting Mike8
Absolutly, because we need to be able to feel the force, the struggle between the parts and jump on the wagon once one of the part lets go of the rope creating the double pressure.

How can we do that if our mind is disturbed? I think it will not be easy. I tried, it does not work for me.
there could be another one in the making btw, but I'm grilling something now..
  • #685,939
  • Aug 29, 2012 4:44pm Aug 29, 2012 4:44pm
Taking out part of profits UCAD @ 0.9893.
I still have longs right above 0.9900 but I don't want to be in it too heavy with J.H. coming up
New voice message: Why are you calling me? If I need you, I'll call you!
  • #685,940
  • Aug 29, 2012 4:45pm Aug 29, 2012 4:45pm
Quoting KillerWhale
Taking out part of profits UCAD @ 0.9893.
I still have longs right above 0.9900 but I don't want to be in it too heavy with J.H. coming up
audusd in your buyzone? that low might have been it
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