3rd Trade BUY NZDUSD - not doing well for the time been.
Result: Hit SL: -13.8 pips
Result: Hit SL: -13.8 pips
Attached Image(s) (click to enlarge)
For those who think that this is easy way of trading: be aware!
Look at the chart GBP/CAD 5 pip renko and just follow simple plan like author suggest... I will thank you for your money. Trading is not easy. I could compare that to base jump at ultralow altitude. And most of you are here suppose that you can read instruction (a la 'do yourself') and then apply what you have learned in the real jump? More over, most of the instructors have never made a jump
I wish you to burn just small amounts of your hard earned money.
Look at the chart GBP/CAD 5 pip renko and just follow simple plan like author suggest... I will thank you for your money. Trading is not easy. I could compare that to base jump at ultralow altitude. And most of you are here suppose that you can read instruction (a la 'do yourself') and then apply what you have learned in the real jump? More over, most of the instructors have never made a jump
I wish you to burn just small amounts of your hard earned money.
For my fallen angels.
For those who think that this is easy way of trading: be aware! Look at the chart GBP/CAD 5 pip renko and just follow simple plan like author suggest... I will thank you for your money. Trading is not easy. I could compare that to base jump at ultralow altitude. And most of you are here suppose that you can read instruction (a la 'do yourself') and then apply what you have learned in the real jump? More over, most of the instructors have never made a jump
I dont say trading is EASY. I say trading is SIMPLE. Is not the same concept.
You talk abotu GBPCAD. Ok. I dont trade this cross by the spread (+-6). But only look at the charts.
1. Main Trend.
2. Daily Trend.
3. Take low ris entries base HA+Renko.
You are not using HA and it change the things. HA is a filter.
In GBPCAD we are in a bear trend from several days and today everay HA says UP, UP, UP.
You can do 3 things. Take intraday buy entries. Take both sides or follow the 3 steps and dont trade until daily trend is agree with main trend.
But even you take short trades if you take low risk entries your DD is no so big.
I think most traders are no understanding that i am explaining.
Im sorry.
PD. I dont change anything. there are no indicators in this charts.
. Moving average and round numbers line are visual helping tools.Regards.
That which you give to others, life will return it in spades
For those who think that this is easy way of trading: be aware! Look at the chart GBP/CAD 5 pip renko and just follow simple plan like author suggest... I will thank you for your money. Trading is not easy. I could compare that to base jump at ultralow altitude. And most of you are here suppose that you can read instruction (a la 'do yourself') and then apply what you have learned in the real jump? More over, most of the instructors have never made a jump
That which you give to others, life will return it in spades
- #97
- Nov 19, 2014 10:37am Nov 19, 2014 10:37am
- Joined Jan 2010 | Status: Trader | 1,448 Posts
If anyone wants a handy indicator to see if different time frames are in synch for different pairs..... the timeframes monitored and the pairs followed are all adjustable.
Hi Jacquemate
I like the idea of KISS ( keeping it sweet n simple) and I loved the idea of Renko Bars ever since I heard of them cos it makes more sense than time candles anyday and measures Price Action
I have an Idea - what about adding two EMAS ( 50 to the high and low) that way if price trading above you know to add longs only and below to add shorts only 
Let me know what you think
I like the idea of KISS ( keeping it sweet n simple) and I loved the idea of Renko Bars ever since I heard of them cos it makes more sense than time candles anyday and measures Price Action
I have an Idea - what about adding two EMAS ( 50 to the high and low) that way if price trading above you know to add longs only and below to add shorts only
Let me know what you think
- #100
- Nov 19, 2014 6:37pm Nov 19, 2014 6:37pm
- Joined Nov 2010 | Status: Trader | 4,484 Posts
Hi Jaquemate
You've had a pretty hard first day my friend....
I tend to agree with you trading is simple, not easy, but simple afterall price can only go up or down, not rocket science is it??? Up or down??? Thats all you've got to decide are you a buyer or a seller???
Now I always say if you look at a chart and you're not sure which way to trade, then find yourself another chart that is obvious which way to trade. It has to be so obvious that you can't go wrong. Of course you still will but at least you're giving yourself a fair chance at getting it right.
I'm talking about charts like this GBPAUD one today that I took 109 pips out of following your Renko charts for the first time ever so it can't be that difficult can it???
Here's my take on an obvious chart clearly telling you which way to trade...
Just have a quick look at it and ask yourself, which way should I trade this chart???
For those poor newbies that everyone's so concerned about I'll help you out with some simple pointers..
You've had a pretty hard first day my friend....
I tend to agree with you trading is simple, not easy, but simple afterall price can only go up or down, not rocket science is it??? Up or down??? Thats all you've got to decide are you a buyer or a seller???
Now I always say if you look at a chart and you're not sure which way to trade, then find yourself another chart that is obvious which way to trade. It has to be so obvious that you can't go wrong. Of course you still will but at least you're giving yourself a fair chance at getting it right.
I'm talking about charts like this GBPAUD one today that I took 109 pips out of following your Renko charts for the first time ever so it can't be that difficult can it???
Here's my take on an obvious chart clearly telling you which way to trade...
Just have a quick look at it and ask yourself, which way should I trade this chart???
For those poor newbies that everyone's so concerned about I'll help you out with some simple pointers..
- The 100lwma is sloping up nicely and price is above it so we'll only looking to buy.
- The qualifying CCI signals (below -100)marked with yellow dotted vertical lines, give you a warning price is about to turn up again at least one candle before you get a new green one. Just to illustrate the power of the CCI, in the case of the 21.00hrs signal it warns you 7 candles before it price actually turns.
- Even without a CCI signal there are plenty of HLs to buy proceeded by HHs.
- Entry is by placing a buy stop above the first colour candle back with the trend. In an uptrend after a red pullback thats a green candle.
- Place your stop below the last red candle.
- Move to BE after 2 or 3 candles your way.
- Exit at your will either on first candle against trend, trail stop below first red candle or hold all trades until 100lwma turns red.
I make it about 11 winning trades and maybe one loser or BE trade. Not too difficult if you ask me??? So lets go over the steps one last time for the newbies...
Find a strong trending pair 100lwma sloping nicely, where you have no doubt which direction to trade.
Buy HL's sell LH's use CCI if it helps.
Use buy/sell stops for entry.
Exit either when opposite candle appears or when 100lwma slope changes eg trend over.
Now if you are a newbie then for heavens sake trade it on demo till you're absolutely comfortable with it then and only then give it a go with real money.
So thank you Jaquemate for introducing me to Renko and Heiken Ashi charts, I like em.....
Feel the Fear and do it anyway!!!