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More simple is impossible

  • #1,781
  • May 6, 2015 3:33am May 6, 2015 3:33am
I did this post back in March. There is a reason why it is important to use M1 charts as the base chart for Renko bars.

http://www.forexfactory.com/showthre...64#post8128164

Although both charts look the same, they are not, Look Closer, there is a significant difference.
Attached Image (click to enlarge)
Click to Enlarge Name: spot the difference.png Size: 43 KB
Cut your Losers short and let your Winners run.
  • #1,782
  • May 6, 2015 3:44am May 6, 2015 3:44am
Quoting friska
{quote} a question, when a close position with, say, +6, you may base an exit on a fall of momentum? which light comes on in your brain?
I will have to get some live trade screenshots to explain that, I tried to put it in words and it came out as jumbled up garbage. It is difficult to explain "after the fact" as I am trying to explain what I am thinking in relation to what is going on on the chart which can not be seen afterwards.
Cut your Losers short and let your Winners run.
  • #1,783
  • May 6, 2015 5:49am May 6, 2015 5:49am
Quoting dee50
{quote}I will have to get some live trade screenshots to explain that, I tried to put it in words and it came out as jumbled up garbage. It is difficult to explain "after the fact" as I am trying to explain what I am thinking in relation to what is going on on the chart which can not be seen afterwards.
many thanks in advance...
nescentia necat
  • #1,784
  • May 6, 2015 8:38am May 6, 2015 8:38am
EU +2+3+2+11-2+2+2+15+15+10+17+17+2+2+25. What a truly frustrating day. 7 B/E trades, 1 loser, 7 winners. The final trade I switched off the Trade Manager and left it to the Gods. Although there would not have been as many trades if I had not loaded up on the news. The reason, I could not get in, when my order was finally accepted I loaded up to make up for lost pips, which then got taken out for B/Es so I loaded up again and the trailing stops got hit. Part of the problem was my entries, I normally try to get into a move as early as possible eg bottom of the pullback, as you can see those entries worked out, more or less, where as the other entries all got taken for B/E. For my B/E protection to work the entry has to be just right other wise you end up with a chart looking like mine today.
First chart, How it looked ongoing.
Second chart How it looked afterwards. A mess.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU ADP 60515.png Size: 72 KB
Click to Enlarge Name: EU 125 60515.png Size: 59 KB
Cut your Losers short and let your Winners run.
  • #1,785
  • May 6, 2015 9:26am May 6, 2015 9:26am
Quoting dee50
EU +2+3+2+11-2+2+2+15+15+10+17+17+2+2+25. What a truly frustrating day. 7 B/E trades, 1 loser, 7 winners. The final trade I switched off the Trade Manager and left it to the Gods. Although there would not have been as many trades if I had not loaded up on the news. The reason, I could not get in, when my order was finally accepted I loaded up to make up for lost pips, which then got taken out for B/Es so I loaded up again and the trailing stops got hit. Part of the problem was my entries, I normally try to get into a move as early as possible eg...
That's still quite an impressive pip haul although I imagine your index finger must be a bit sore now.. I gave up after my second BE trade.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m4-06052015-1.png Size: 46 KB
Follow, don't anticipate.
  • #1,786
  • May 6, 2015 9:33am May 6, 2015 9:33am
EU +28+60. Now that is more like it, I went back to my normal style of managing the trade, I could not ignore the break and close above the BRN, not a pullback entry but this time there was enough momentum for my B/E protection to work all I had to do was go back to my trail method which basically is "stick it there if it looks good". I know, the "Rule Followers" will Cringe and Bristle at that statement, but look what happens when I try to be a Rule Follower.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +28+60 60515.png Size: 58 KB
Cut your Losers short and let your Winners run.
  • #1,787
  • May 6, 2015 9:41am May 6, 2015 9:41am
Quoting Ian
{quote} I gave up after my second BE trade. {image}
Yes, the market this morning was a 65 year old menopausal bitch (haven't experienced that in real life yet?? some thing for you to look forward to)
Cut your Losers short and let your Winners run.
  • #1,788
  • May 6, 2015 10:36am May 6, 2015 10:36am
Quoting dee50
{quote}Yes, the market this morning was a 65 year old menopausal bitch (haven't experienced that in real life yet?? some thing for you to look forward to)
I'm really going to try and avoid that one...
Follow, don't anticipate.
  • #1,789
  • May 6, 2015 11:36am May 6, 2015 11:36am
Quoting Ian
{quote} I'm really going to try and avoid that one...
Ways to Avoid exposure. Option1. Bachelorhood. Option2. Divorce. Option3. Death.

One Option is more permanent than the others.
Cut your Losers short and let your Winners run.
  • #1,790
  • May 6, 2015 12:49pm May 6, 2015 12:49pm
Quoting dee50
{quote} Ways to Avoid exposure. Option1. Bachelorhood. Option2. Divorce. Option3. Death. One Option is more permanent than the others.
Dee do you mind sharing your template? xD

thanks!
Perfecting your entry will increase your profits
  • #1,791
  • May 6, 2015 1:02pm May 6, 2015 1:02pm
Quoting dee50
{quote} Ways to Avoid exposure. Option1. Bachelorhood. Option2. Divorce. Option3. Death. One Option is more permanent than the others.
Option 4....... move to S/E Asia
  • #1,792
  • May 6, 2015 2:43pm May 6, 2015 2:43pm
Quoting dee50
{quote} Ways to Avoid exposure. Option1. Bachelorhood. Option2. Divorce. Option3. Death. One Option is more permanent than the others.
I've been married for 32 years to date so 1 is out, I've checked with my wife regarding the other options and she's going to get back to me.....
Follow, don't anticipate.
  • #1,793
  • May 6, 2015 2:46pm May 6, 2015 2:46pm
Quoting PhilippineFX
{quote} Option 4....... move to S/E Asia
.....
Follow, don't anticipate.
  • #1,794
  • May 6, 2015 4:46pm May 6, 2015 4:46pm
Quoting dee50
{quote} Ways to Avoid exposure. Option1. Bachelorhood. Option2. Divorce. Option3. Death. One Option is more permanent than the others.
Quoting Ian
{quote} I've been married for 32 years to date so 1 is out, I've checked with my wife regarding the other options and she's going to get back to me.....
Here things are getting complicated mates!
I might still be in time for option one , any suggestions ?
nescentia necat
  • #1,795
  • May 7, 2015 4:19am May 7, 2015 4:19am
Quoting Deliciouspip
{quote} Dee do you mind sharing your template? xD thanks!
If you use the templates for the base charts, Avoid conflicts. 5 pip base chart is set up to use M3 Offline chart. 10 pip base chart will use M10 offline chart, if you have offline charts in use make sure they do not conflict.
Attached File(s)
File Type: zip 5 Renko Template.zip   130 KB | 1,157 downloads
File Type: zip 10 Renko template.zip   131 KB | 1,006 downloads
Cut your Losers short and let your Winners run.
  • #1,796
  • May 7, 2015 6:51am May 7, 2015 6:51am
Quoting dee50
EU +28+60. Now that is more like it, I went back to my normal style of managing the trade, I could not ignore the break and close above the BRN, not a pullback entry but this time there was enough momentum for my B/E protection to work all I had to do was go back to my trail method which basically is "stick it there if it looks good". I know, the "Rule Followers" will Cringe and Bristle at that statement, but look what happens when I try to be a Rule Follower. {image}
looks like 'stick it there if it looks good' worked well. if not a rule, you must have a healthy principle for trailing . . .
  • #1,797
  • May 7, 2015 7:47am May 7, 2015 7:47am
EU +3+48. News+3. I did not trade the channel although there were about 30 pips available on each leg, instead I traded the Breakout, that rewarded my patience by taking me out for a B/E, an immediate re-enter paid off, i closed it manually as we were right on the news, sods law, if I had left it running it would have hit my full TP.
The News reaction was like a Limp Handshake, you know the one I mean, slightly moist like a piece of fresh liver in your hand.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +3+48. News+3 70515.png Size: 55 KB
Cut your Losers short and let your Winners run.
  • #1,798
  • May 7, 2015 8:48am May 7, 2015 8:48am
Quoting dwhen you 0067
EU +3+48. News+3. I did not trade the channel although there were about 30 pips available on each leg, instead I traded the Breakout, that rewarded my patience by taking me out for a B/E, an immediate re-enter paid off, i closed it manually as we were right on the news, sods law, if I had left it running it would have hit my full TP. The News reaction was like a Limp Handshake, you know the one I mean, slightly moist like a piece of fresh liver in your hand. {image}
Hello dee, when you say trade the channel do you mean when price touches the top or bottom line and a wavy or big arrow signal appear then you will take the trade? Please through a little light on it.And thanks for all your hard work to this thread, God bless you sir.Hello dee, whennyou
  • #1,799
  • May 7, 2015 9:08am May 7, 2015 9:08am
EU +20+ongoing. My last attempt today, I need to save my strength for tomorrow.

Any one got a good reliable Trade Manager, I appreciate these guys that programme these things but many of the TMs available these days require a Masters Degree to set them up. Look at the little B/E trade before this one, first it did not move the sl to B/E and I had to ride out the DD then after that it decides that it will move to B/E and I get stopped out, what is the point, why don't the MT4 crew add trade Management as standard just like every other trading platform out there. I have NEVER had a single problem with my futures platform Trade Management, it does exactly what it says on the tin.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +20 +ongoing 70515.png Size: 51 KB
Cut your Losers short and let your Winners run.
  • #1,800
  • May 7, 2015 9:16am May 7, 2015 9:16am
Quoting dee50
EU +20+ongoing. My last attempt today, I need to save my strength for tomorrow. Any one got a good reliable Trade Manager, I appreciate these guys that programme these things but many of the TMs available these days require a Masters Degree to set them up. Look at the little B/E trade before this one, first it did not move the sl to B/E and I had to ride out the DD then after that it decides that it will move to B/E and I get stopped out, what is the point, why don't the MT4 crew add trade Management as standard just like every other trading platform...
This one looks simple. Sorry, haven't tried it though. I believe you must have tried swiss army, cave manager, and mptm by steve. Like you said we need masters to know how to make these work.
Attached File(s)
File Type: zip BreakEven_v2.zip   8 KB | 464 downloads
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