Renko Fbird Journal

Hi FF mates,

I'm starting this thread to help me focus on my trading, respect my trading rules and share my experience.

I have tried all types of systems, having good and bad experiences, globally beeing break even. Still a long way to go.

I have set up a demo account with 100 and intend to doble it during the year. If succesfull, I may go live with a small account. I am very patient and acknowledge the journey has a lot of hurdles.

My trading is based on Orangutangas' thread As simple as possible: RENKO M5 trading ( http://www.forexfactory.com/showthread.php?t=518592 ). I have had a fairly good success with this system for the past 2 weeks. Hopefully I can maintain consistently that.

3 things to maintain firmly in mind with this system:
1) No trades when red new is due.
2) No trades at or about round number.
3) No trades at SR that are easy to identify with renko charts.

I'm trading 4 pairs:GU, GY, EY, EA. MM: 0.03 lot / trade (roughly 2%risk). I'm not a full time trader, so I will update the thread whenever I can. I usually take 1 to trades per day, sometimes more sometimes less.

Wish me good luck !

First trade of the day: GY. Result + 5pips. A fairly clean set up. TP hit within seconds.



Beeing NFP day, I will probably not take any trade until NFP, save if I see another clear cut set up.

good luCk on this
subscribed

Thanks Hoffi ! Welcome on board.

Another easy 5 pips on GY. End of the day, for me.

Good week all,

First trades of the day and not very happy with me.

1) EA: entered just at SR, breaking one of my major rule. Managed to get out at +3 pips. Very upset with this one !!



2) GY: perfect entry, but forgot to include spread in setting manually the TP. Result: +4pips instead of 5.



Need to take another coffee !!!!

Last one for the day, + 5 pips.

great trading!!

PDF & BCC

Udine

Are you using something like a new candle alert, fbird? Otherwise you will have a lot of screen-time, i guess.

Kudos to you and Orangutangas, Udine ! Now the goal is to reach consistency !

Hi SputnikX,

No candle alert. These are 5 pip renko bricks and on those pairs you have too much movement for an alert to be useful. In relation to screen time, I don't pass more than 2 hours per day. With 4 pairs, you usually have several set ups everyday. It's true that I miss numerous opportunities and that some days I have no trades. But hell, as I said, I'm very patient and I don't care. Market is always open and my goal is to slowly grow the account.

This morning, I'm seeing contradictions in the market: GY up EY down, GU down, EA up.

Don't like that. Will have a walk with the dog and see thereafter.

Men! 2 years after and your are still walking with the dog?