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More simple is impossible

  • #4,641
  • Edited 11:08am Jan 5, 2016 10:53am | Edited 11:08am
Quoting dee50
GER30+41. Last one, a quick take off divergence at major S&R. 200 ema purple line is weekly S&R and HTF 50% and a BRN and probably a few other things depending on who is looking. Exit confirmed by Divergence 5 and 10 pip chart, stochs OS 5 and 10 pip chart {image}
Missed this one.. So I had to take long where you close your short ) I used reversed thinking. About this one... I said to me... Where would Dee close his position so I could buy his short! Well I'm just kidding. But really nicely done as always!

This was bounce of 275 + TL + 38Fib + Cycle.. my TP was 330 but forgot about the hour... So I closed it for 20.. The retrace back to 275 made me very sweaty :X
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  • #4,642
  • Jan 5, 2016 11:23am Jan 5, 2016 11:23am
Dee, I'm delighted and inspired at looking at your trading.
Still don't get why you choose that exit point? Is it because of a resistance zone becoming a support zone there?

Me honestly would keep the trade open, with the sell bias, so it is important to know why this point was more important to you than the down bias.

Thanks



Quoting dee50
GER30 +48. Blimey Friska, you could at least give me a bit more warning that it was time to close, I was lucky priced kissed me, loved me and then left. {image}
  • #4,643
  • Jan 5, 2016 11:33am Jan 5, 2016 11:33am
Dee, during Christmas I posted this message I guess you didn't see due to holidays. Hope you can reply to it. Many thanks.
-------

To further understand your rationale behind your trading, I have some comments/questions for you if you don't mind. Attached your image with my anotations.

1. Were you thinking short because of MACD short bias and waited for a 1,2,3 pattern? At this time stochs and MACD were very close to the center line, why didn't you mind or considered that? Also, why didn't you consider going long 3 candles before, after a up 1,2,3, with stochs and MACD on your side?

2. This was a continuation of the short move after a 1,2,3 patter, with stochs and MACD on your side, correct?

Why you closed your positions at that specific point? What did you see? It was a laser shot.

3. Why didn't you enter short at this point (#3 with yellow arrow)? Stochs were on your side, MACD was turning down, not red though, but about to cross, plus in direction of the daily trend.

4. This long trend looks like risky, as is counter trend, totally opposite to what #3 dictates, so what did you see to prevent from entering #3 in direction of the trend, and take #4? Did you only see 1,2,3 plus stochs and MACD on your side? Again, you didn't mind these 2 indicators were on the other side of the middle line?

5. Looks like a no brainer. Your close was because of green brick, or expect to see something else aligned?

6. Again, this to me was a short trade with indicators on your favor. Why you didn't take it, and more so why you waited and traded counter trade?

My biggest rescpect to your trading abilities.

Many thanks for your time and willingness to help us out.


By the way, how to embed an image in the post instead of attaching a file?


Best whishes.


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  • #4,644
  • Jan 5, 2016 12:20pm Jan 5, 2016 12:20pm
Quoting JackAntigua
I thought I'd take another look at Renko Mean charts and did a demo trade on the DOW, chart below. The overall context currently is bearish so that was my bias. What I saw was hidden divergence at a support turned resistance zone. Once the first red bar printed, I entered on a retracement back up to the bottom of the zone giving it plenty of breathing space and targeted the support zone below which it hit almost to the tee before bouncing back up. {image}
Like your chart.. Clean and effective
And nice hdiv spot on a key level, A good pos trade
Well done
nescentia necat
  • #4,645
  • Jan 5, 2016 1:18pm Jan 5, 2016 1:18pm
Friska,
Just wondering if you always use standard candle sticks, or really use renko?

I'm liking very much what is being tought here around renko. My only issue is that I work fulltime, and using renko is difficult as it doesn't pay attention to time. It can create several candles or your expected formation within seconds/minutes, whilst standard candles you wait for specific time to see what is going on.

If trading with standard charts, you also use stochs and MACD to trigget your trades? With same values as Dee uses for renko?

Your input is very much appreciated.

Best


Quoting friska
quick long TL bouce>> out {image}
  • #4,646
  • Jan 6, 2016 2:50am Jan 6, 2016 2:50am
Dax 30....+5 +9 very rusty after 2 weeks away...trigger shy...
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  • #4,647
  • Jan 6, 2016 2:57am Jan 6, 2016 2:57am
dax 30.... +18 on a simple breakout
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  • #4,648
  • Jan 6, 2016 3:11am Jan 6, 2016 3:11am
Dax +3 +7 -5.....i was putting the rice cooker together when it bounced off the fib 50 the second time...
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  • #4,649
  • Jan 6, 2016 3:18am Jan 6, 2016 3:18am
Dax 30... +13
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  • #4,650
  • Jan 6, 2016 5:19am Jan 6, 2016 5:19am
GER30+80+68+2. So far today, but it is 12.00 CET so will start to get a bit bitty until the Americans come on board. Just got stopped for another +2, straight back in again same target.
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Cut your Losers short and let your Winners run.
  • #4,651
  • Edited 5:36am Jan 6, 2016 5:22am | Edited 5:36am
Trades today. I am getting a slightly better at this, although I still have a lot to learn. I am trying to observe price structure and get a feel for the price cycles. I am currently trading EUR/USD live, but it's like watching grass grow compared to the insane speed of the DAX
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Invincibility lies in the defence; the possibility of victory in the attack
  • #4,652
  • Jan 6, 2016 5:28am Jan 6, 2016 5:28am
GER30+2s. Couple more +2s. Looks like the Divergences clearly visible on the 5 pip chart are starting to have an effect also we are very close to a Major S&R level +61.8% retr on HTF so I am going to give this a little time to show it's intentions and then look for another entry. Going to BE quickly can be frustrating but it also keeps me out of losses.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #4,653
  • Jan 6, 2016 5:43am Jan 6, 2016 5:43am
Quoting BBalazs
Trades today. I am getting a slightly better at this, although I still have a lot to learn. I am trying to observe price structure and get a feel for the price cycles. I am currently trading EUR/USD live, but it's like watching grass grow compared to the insane speed of the DAX {image}
3 winners, no losers. Obviously the pace is right for you while you get to grips with every thing, if you have ever had to mow the grass on your lawn twice a week you would know that there is nothing wrong with slow growing grass.
Nice to see you observing the HHs & LLs
Cut your Losers short and let your Winners run.
  • #4,654
  • Jan 6, 2016 5:46am Jan 6, 2016 5:46am
Quoting dee50
{quote} 3 winners, no losers. Obviously the pace is right for you while you get to grips with every thing, if you have ever had to mow the grass on your lawn twice a week you would know that there is nothing wrong with slow growing grass. Nice to see you observing the HHs & LLs
Thank you for the kind words. I am trying my best. Fortunately enough, the lawn mowing is not due until summer, actually it is covered in snow at the moment
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,655
  • Jan 6, 2016 5:46am Jan 6, 2016 5:46am
Quoting PhilippineFX
Dax 30... +13 {image}
Nice going, as usual, takes a little while to shake out the cobwebs.
Cut your Losers short and let your Winners run.
  • #4,656
  • Jan 6, 2016 5:49am Jan 6, 2016 5:49am
Quoting cfabian
Friska, Just wondering if you always use standard candle sticks, or really use renko? I'm liking very much what is being tought here around renko. My only issue is that I work fulltime, and using renko is difficult as it doesn't pay attention to time. It can create several candles or your expected formation within seconds/minutes, whilst standard candles you wait for specific time to see what is going on. If trading with standard charts, you also use stochs and MACD to trigget your trades? With same values as Dee uses for renko? Your input is very...
You know there is a very simple way to see if every thing works the same on Std Candles as it does on Renkos, also I was trading in exactly the same way for years before I came over to Renkos, does that tell you any thing?
Cut your Losers short and let your Winners run.
  • #4,657
  • Jan 6, 2016 5:50am Jan 6, 2016 5:50am
Quoting dee50
{quote} Nice going, as usual, takes a little while to shake out the cobwebs.
Did you notice the 18 pip swing trade???...
  • #4,658
  • Jan 6, 2016 5:58am Jan 6, 2016 5:58am
Quoting PhilippineFX
{quote} Did you notice the 18 pip swing trade???...
I just assumed you were having more problems with your rice cooker and missed the exit for 7 pips
Cut your Losers short and let your Winners run.
  • #4,659
  • Jan 6, 2016 5:58am Jan 6, 2016 5:58am
Can you post your renko setup and indicators ?

Thanks!!

Quoting dee50
GER30+2s. Couple more +2s. Looks like the Divergences clearly visible on the 5 pip chart are starting to have an effect also we are very close to a Major S&R level +61.8% retr on HTF so I am going to give this a little time to show it's intentions and then look for another entry. Going to BE quickly can be frustrating but it also keeps me out of losses. {image}
  • #4,660
  • Jan 6, 2016 6:07am Jan 6, 2016 6:07am
Quoting dee50
{quote} I just assumed you were having more problems with your rice cooker and missed the exit for 7 pips
ouch!
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