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More simple is impossible

  • #541
  • Jan 6, 2015 2:47am Jan 6, 2015 2:47am
Quoting Esosa
{quote} I can see you have Nihilist indicator on your chart. Regarding the repainting issue how has it been with your entry signals? and how do you implement it to your trading?
Yeah true, it repaints!
I use it only for confirmation not as a signal.
By the time I entered the market it showed me a green signal, but I didn't wait for the candle close, so it turned red...
When I now look on my trade I would have waited for the long signal 5 minutes later...

I never had a bad signal with the Ultra Trend so far.
For my entries I need at least 3 of 4 entry signals pointing in my prefered direction. In this case I have the odds in my favor.
BUT we can't win them all
  • #542
  • Jan 6, 2015 3:21am Jan 6, 2015 3:21am
Quoting Mr.Ma
{quote} Yeah true, it repaints! I use it only for confirmation not as a signal. By the time I entered the market it showed me a green signal, but I didn't wait for the candle close, so it turned red... When I now look on my trade I would have waited for the long signal 5 minutes later... I never had a bad signal with the Ultra Trend so far. For my entries I need at least 3 of 4 entry signals pointing in my prefered direction. In this case I have the odds in my favor. BUT we can't win them all
Thanks for reply. Am sure since it's renko the UT indi will be more accurate better than when using it with normal traditional candlestick chart.
Hoping to see more entries from you.
  • #543
  • Jan 6, 2015 6:10am Jan 6, 2015 6:10am
Keeping it Simple. EU +2, +48. Done for the day. I am not chasing every pip, I am easing into the year, so 50 for the day is adequate.
Here is my 10 pip chart marked up with the S&R levels from the Weekly and Daily it gives me a clue as to where price might go, although much salt is being used because these levels are taken from 2003 & 2005, I personally feel that when levels are that old they have less significance which makes it harder to pick your TPs or to judge where the market will stop and turn, which it will, at some point.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU +2 +48 60115.png Size: 60 KB
Click to Enlarge Name: EU 10 pip 60115.png Size: 52 KB
Cut your Losers short and let your Winners run.
  • #544
  • Jan 6, 2015 6:37am Jan 6, 2015 6:37am
Quoting Esosa
{quote} Where do you place your stoploss?
Where do you place yours? Actually I am not interested where you place yours because it has absolutely no relevance to "My" Money Management.

I use a SL of 12 pips on the 3 pip chart which never gets hit because I move to B/E +2 @5 pips.
The important thing to note is I do not hesitate to "pull the trigger" so this method works for me, if you hesitate then it will not work for you, even 1 candle later can make the difference between a +2 and a -12.

Alternatively use the last Swing Hi/Low
or, allow 2 candles + spread +2 pips
or, use a financial SL based on your account size
or, use a SL based on the lot size traded
etc etc etc

Can you see what I am getting at, what I do should be irrelevant to you, you have to decide what "you" are comfortable with because if you are not comfortable it will affect your trading decisions.
Cut your Losers short and let your Winners run.
  • #545
  • Jan 6, 2015 10:08am Jan 6, 2015 10:08am
EU +26. I used the News momentum for a quick 26 CT, but the trade was supported by good PA. Div at a very definite S&R 3rd bounce off the level. The prior HTF Div lent weight to the decision + the News was Euro positive.

Not a classic MSII trade but if you make a mental note of the PA that lead upto the trade and you see this in the future going back into trend, you know to jump in and swim with the tide.

Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +26 60115.png Size: 62 KB
Cut your Losers short and let your Winners run.
  • #546
  • Jan 6, 2015 3:04pm Jan 6, 2015 3:04pm
Quoting dee50
EU +26. I used the News momentum for a quick 26 CT, but the trade was supported by good PA. Div at a very definite S&R 3rd bounce off the level. The prior HTF Div lent weight to the decision + the News was Euro positive. Not a classic MSII trade but if you make a mental note of the PA that lead upto the trade and you see this in the future going back into trend, you know to jump in and swim with the tide. Hope it helps. {image}
Interesting
to me the key is the stop run on the second spike down, that´s the Big Boys hand, collecting retail money, to push them up....the last spike down, that didn´t quite make it so deep, is to scare week hands that trail a stop too close....after all those are cleared ...it flies away .....
  • #547
  • Jan 7, 2015 4:33am Jan 7, 2015 4:33am
Took 15 pips, Today EU is playing up and down at S/R when London open. Took my trade after channel broken at 1 min chart in collaboration with Renko Signal.

First 2 Trades close at BE.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDM1_1 7.1.14.png Size: 48 KB
Click to Enlarge Name: EURUSD-ProM2 7.1.14.png Size: 59 KB
  • #548
  • Jan 7, 2015 5:45am Jan 7, 2015 5:45am
Quoting jeetvirk
Took 15 pips, Today EU is playing up and down at S/R when London open. Took my trade after channel broken at 1 min chart in collaboration with Renko Signal. First 2 Trades close at BE. {image} {image}
would you be willng to share your Eco calendar Indi?
  • #549
  • Jan 7, 2015 5:51am Jan 7, 2015 5:51am
Quoting panamamike
{quote} would you be willng to share your Eco calendar Indi?
Hi Panamamike see attached file.

regards
Attached File(s)
File Type: ex4 NewsCal-v107.ex4   29 KB | 348 downloads
  • #550
  • Jan 7, 2015 5:52am Jan 7, 2015 5:52am
The Pro View for today and some Pro Analysis. I personally prefer to look at Tits and Bums but you need to keep an eye on what the Big Boys are thinking and doing.

Enjoy.
Attached File(s)
File Type: pdf DanskeTechnicalUpdate.pdf   64 KB | 466 downloads
File Type: pdf DanskeDaily.pdf   317 KB | 395 downloads
File Type: pdf Monitor_Labour_060115.pdf   1.3 MB | 433 downloads
File Type: pdf IMMPositioning_060115.pdf   1.5 MB | 442 downloads
Cut your Losers short and let your Winners run.
  • #551
  • Jan 7, 2015 6:04am Jan 7, 2015 6:04am
Quoting dee50
The Pro View for today and some Pro Analysis. I personally prefer to look at Tits and Bums but you need to keep an eye on what the Big Boys are thinking and doing. Enjoy. {image} {image} {image} {image}
Thanks Dee for Info. Waiting to see ur chart analyses with 50 pip take profit today.

regards
jeet
  • #552
  • Jan 7, 2015 6:05am Jan 7, 2015 6:05am
Thanks for the informatins dee!

Took one trade on EU this morning towards 1.1900.
Chart later when I get home
  • #553
  • Jan 7, 2015 6:34am Jan 7, 2015 6:34am
Quoting jeetvirk
{quote} Thanks Dee for Info. Waiting to see ur chart analyses with 50 pip take profit today. regards jeet
OK, here it is. EU +52. Div at short term S&R, 50% Retr & BRN. Plus, look at the 10 pip chart you can not argue with this down trend! Quick CT scalps, for 10 - 15 pips ok. The difficulty as I said yesterday is picking TPs, the market is not taking too much notice of these longer term S&R levels so I will have to resort to using Price Extensions, examples shown on the chart. The 2 levels that are used are 123% & 161.8%, don't ask me to explain them I will try and find some videos for you all. Note that the 161.8% Ext is at the same level of the Danske bank EU trade TP 1.1780, I suspect that they also use Extensions for their TPs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU +52 70115.png Size: 58 KB
Click to Enlarge Name: EU 10 pip 70115.png Size: 53 KB
Cut your Losers short and let your Winners run.
  • #554
  • Jan 7, 2015 11:17am Jan 7, 2015 11:17am
This is why I never predict where price will go. Can you work it out?

First the Hourly for the next 24 hrs.
Then the monthly for the next year.
Then the 3 pip Renko for the next hour or so.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: channel or trend line 70115.png Size: 52 KB
Click to Enlarge Name: EU how low can it go.png Size: 56 KB
Click to Enlarge Name: EU 3pip 70115.png Size: 60 KB
Cut your Losers short and let your Winners run.
  • #555
  • Jan 7, 2015 11:23am Jan 7, 2015 11:23am
Quoting dee50
This is why I never predict where price will go. Can you work it out? First the Hourly for the next 24 hrs. Then the monthly for the next year. {image} {image}

Hi Dee

I have been following your inputs for a while - I would love to know your strategy of scalping on this Renko Charts - you use the 5 pips correct?

If possible, so sorry for the trouble, but can you share your indicators and strategy with me?

Thank you so much
  • #556
  • Jan 7, 2015 3:57pm Jan 7, 2015 3:57pm
Quoting dee50
{quote} OK, here it is. EU +52. Div at short term S&R, 50% Retr & BRN. Plus, look at the 10 pip chart you can not argue with this down trend! Quick CT scalps, for 10 - 15 pips ok. The difficulty as I said yesterday is picking TPs, the market is not taking too much notice of these longer term S&R levels so I will have to resort to using Price Extensions, examples shown on the chart. The 2 levels that are used are 123% & 161.8%, don't ask me to explain them I will try and find some videos for you all. Note that the 161.8% Ext is at the same level...
Hi Dee,
Your trading looks smooth and easy really. I wonder if you mainly trade London session, or US session?
A big disadvantage I see on trading renko, is that 1 candle can form in hours or seconds. So, this would require total attention to the market at all times. This compared to standard candles in which you come back 15 min or 1 hr later to see if price action and candle formation fits your entry, and go about other things.

How do you deal with this?

Personally, aiming for 50 pips daily is my goal.

Best
  • #557
  • Jan 8, 2015 1:35am Jan 8, 2015 1:35am
Quoting dee50
{quote} OK, here it is. EU +52. Div at short term S&R, 50% Retr & BRN. Plus, look at the 10 pip chart you can not argue with this down trend! Quick CT scalps, for 10 - 15 pips ok. The difficulty as I said yesterday is picking TPs, the market is not taking too much notice of these longer term S&R levels so I will have to resort to using Price Extensions, examples shown on the chart. The 2 levels that are used are 123% & 161.8%, don't ask me to explain them I will try and find some videos for you all. Note that the 161.8% Ext is at the same level...
Hola Dee ! i like renko bars and your style
i use 5 pips chart on my favourite pair GBP/USD

+50 yesterday

Have a nice day
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 233 KB
  • #558
  • Jan 8, 2015 3:50am Jan 8, 2015 3:50am
Quoting cfabian
{quote} Hi Dee, Your trading looks smooth and easy really. I wonder if you mainly trade London session, or US session? A big disadvantage I see on trading renko, is that 1 candle can form in hours or seconds. So, this would require total attention to the market at all times. This compared to standard candles in which you come back 15 min or 1 hr later to see if price action and candle formation fits your entry, and go about other things. How do you deal with this? Personally, aiming for 50 pips daily is my goal. Best
Yes dee, could you explain how you enter when sometimes it happens within a few seconds or minutes..? Thank you.
  • #559
  • Jan 8, 2015 3:58am Jan 8, 2015 3:58am
for those of you that are asking about entries. If you are unable to wait for renko bar closes, there are Heiken Ashi EAs that trade on the color change. When you see a setup developing on the chart, drop the EA on the chart, set it to trade only in the desired direxpction. Once it initiates your trade, disable the EA. Manage your trade from here. Test it on demo.
  • #560
  • Jan 8, 2015 4:11am Jan 8, 2015 4:11am
Today took +15 pips, Entered after break of Triangle with the daily trend.

Dee waiting for your charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD-ProM1 8.1.15_2.png Size: 43 KB
Click to Enlarge Name: EURUSD-ProM2 8.1.15_1.png Size: 60 KB
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