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  • #5,121
  • Jan 21, 2016 11:08am Jan 21, 2016 11:08am
Quoting MisterC
Hey lads. Haven't been posting lately because I'm doing loads of back testing and working out how to better filter my trades. I was looking at EU chart and...this is the coolest thing I've seen on a renko chart. I think, I may be wrong, these are algos working the market. Someone with a really low spread, a great execution and proper emotional control could have made a pretty penny here. {image}

I have tried to reproduce your charts without any success. They do look very cool. The whole series only took a couple minutes though. The brick size certainly seems to be 2.5pips. I have no clue how you achieved a chart that looks like that !!!
  • #5,122
  • Jan 21, 2016 11:17am Jan 21, 2016 11:17am
Quoting dee50
{quote} OK, you got me. What are we looking at, to me it looks like the old test card on a TV at a time when the valves still glowed.
You are looking at part of the circled candle on EU, on a 2.5 pip renko brick chart. Or the EKG of a hearth in cardiac arrest...

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  • #5,123
  • Jan 21, 2016 11:19am Jan 21, 2016 11:19am
Quoting sj9bp20
{quote} I have tried to reproduce your charts without any success. They do look very cool. The whole series only took a couple minutes though. The brick size certainly seems to be 2.5pips. I have no clue how you achieved a chart that looks like that !!!
That's how my 2.5 brick chart looks like...I should mention that I'm using a different renko generator, not the renko pimped charts or whatever its name is...

How does your chart look...I'm really curious now...

I get the same thing on the 5 pip brick...

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  • #5,124
  • Jan 21, 2016 11:25am Jan 21, 2016 11:25am
Quoting MisterC
{quote} You are looking at part of the circled candle on EU, on a 2.5 pip renko brick chart. 1836108

That is the area I tried to reproduce. Even using 0.25pip blocks I couldn't match it. Shame, with a fast connection that would be easily tradeable. 5 or 6 blocks up then down. 12 - 15 points each way pure profit all day long. I wish....
  • #5,125
  • Jan 21, 2016 11:31am Jan 21, 2016 11:31am
Quoting MisterC
{quote} That's how my 2.5 brick chart looks like...I should mention that I'm using a different renko generator, not the renko pimped charts or whatever its name is... How does your chart look...I'm really curious now... I get the same thing on the 5 pip brick... {image}
Like this. This is a 3pip block
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  • #5,126
  • Jan 21, 2016 11:38am Jan 21, 2016 11:38am
Quoting sj9bp20
{quote} Like this. This is a 3pip block {image}
The renko builder fills in the "gaps", so if there's a jump of say 10 pips, it will draw as many blocks in one hit to get to the price + 10 pips.

Additionally, for history the builders often generate 3 or 4 ticks made up from the M1 timeframe.

So I think what I'm trying to say is what you see probably isn't tradable in realtime.
  • #5,127
  • Jan 21, 2016 11:39am Jan 21, 2016 11:39am
Quoting MisterC
{quote} You are looking at part of the circled candle on EU, on a 2.5 pip renko brick chart. Or the EKG of a hearth in cardiac arrest... {image}
OK now I am with you. Impossible to trade manually, hence your reference to an Algo.

And certainly not possible with MT4s antiquated order handling!!
Cut your Losers short and let your Winners run.
  • #5,128
  • Jan 21, 2016 11:40am Jan 21, 2016 11:40am
Quoting sj9bp20
{quote} Like this. This is a 3pip block {image}
Is your renko generator on the M1 timeframe, as source? Or it could be just difference between brokers...
  • #5,129
  • Jan 21, 2016 11:42am Jan 21, 2016 11:42am
Quoting MisterC
{quote} Is your renko generator on the M1 timeframe, as source?
actually its not. Its on a M5. I will load a M1. Really interested now.
  • #5,130
  • Jan 21, 2016 11:53am Jan 21, 2016 11:53am
Quoting MisterC
{quote} Is your renko generator on the M1 timeframe, as source? Or it could be just difference between brokers...

M1 chart as a generator gave exactly the same results as the M5 chart.
  • #5,131
  • Jan 21, 2016 12:03pm Jan 21, 2016 12:03pm
Quoting BBalazs
Done and done with live trading for the day (+12, +23) Easy as pie, trend was up, so I was obedient and bought into the dips. Don't predict, just follow. I did not buy the 2 Stochastic OS before my last entry, because the range was too small for my taste. {image}
Nice trades. Exactly to my taste!

Quoting dee50
{quote} 9 Trades, 1 loser, 3 BEs, 5 winners. Seems pretty reasonable to me considering it's the 3 pip chart.
Thank you I also watched 10p and 5p Renko, but I'd say this time didn't help me much. And yes pips are great as result.. But the process is more important to me. This thing need more days, different conditions to say I'm at least a bit satisfied.

Quoting sj9bp20
{quote} M1 chart as a generator gave exactly the same results as the M5 chart.
Do you aware of fact, when you reload renko or just open another renko.. The tick data dissapear? So the results won't be same. Seems to me this is the issue as MisterC pointed it was in 1minute candle.
  • #5,132
  • Jan 21, 2016 12:22pm Jan 21, 2016 12:22pm
Dee, I have a question about two of your past trades, if you don't mind. I've been wracking my brains thinking why did you took the trades where you took them. I'm not trying to get you to make my homework, but I would really like to know your perspective here...I realized that taking the right trade is easy, the hard part is not taking the wrong trades and I'm working on better filtering....

Anyway...here's my take...

Is it because price reacted at the red SR level and MACD was showing no momentum upwards? You thought that price could reverse from the red SR and decided to entry only when there was clear momentum. You wanted more confirmation that price was going up, thus you waited for the SR that supports price going up to be tested again? Though you did not marked that SR on your chart. Was it simply because of the red SR and you wanted more upward confirmation?

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You waited fora full cycle to be completed on the downside or you saw the area where I suggest entering as a range and after breaking up you were expecting another move down. You felt safe only after there was another failed attempt of going lower because the 123 where I suggest going long...you saw as one swing point, not multiple.

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Please let me know what was your confirmation process here. Thanks...
  • #5,133
  • Jan 21, 2016 12:42pm Jan 21, 2016 12:42pm
Quoting MisterC
Dee, I have a question about two of your past trades, if you don't mind. I've been wracking my brains thinking why did you took the trades where you took them. I'm not trying to get you to make my homework, but I would really like to know your perspective here...I realized that taking the right trade is easy, the hard part is not taking the wrong trades and I'm working on better filtering.... Anyway...here's my take... Is it because price reacted at the red SR level and MACD was showing no momentum upwards? You thought that price could reverse from...
15.30 on my chart is 08.30 news. Both trades were news trades.
Cut your Losers short and let your Winners run.
  • #5,134
  • Jan 21, 2016 12:46pm Jan 21, 2016 12:46pm
Quoting dee50
{quote} 15.30 on my chart is 08.30 news. Both trades were news trades.
Wasn't expecting that, I didn't consider time.... I was wrecking my brain with technical reasons....well, thanks for answering!!
  • #5,135
  • Jan 21, 2016 12:48pm Jan 21, 2016 12:48pm
Quoting BBalazs
{quote} I am curious, why did you delete the Stochastic? It could be useful to avoid selling at points where you suffered that huge DD.
Remember that any kind of indicator will not tell you what is good and what is bad entry... again, read an article which posted Dee about indicators. Indicators never were and never will tell you nothing about entries. They are giving you pure information like divergence or cycle process, but if your MA in Stochastic or MACD is below 20 or above 80, market really does not care about it. That is why Philippine can make huge pips every day even if he grabbed out Stochastic off chart. Because he is master of PA, not because the MAs in MACD crossed, just understand it finally, open clear renko chart and observe. I do not guess about why my entries were bad opened - I know exactly why and it is because cycles, not because I have not 100 indicators in chart.

Really for all - stop looking on crossing EMA or MA, 20-50-80 levels in indicators and bull.hits like that as a main signal to enter or not enter to position. It is only informations, nothing more, they are useful and Dee collected really nice stuff of them in his chart, he wrote there many times about how he looks on every piece of them, so find it in his older pictures and start trading price, not indicators.

Btw nice trades man today, I follow your pictures every day
  • #5,136
  • Edited 1:02pm Jan 21, 2016 12:49pm | Edited 1:02pm
US30(DOW)+23+2+26+48. I don't normally trade at this hour 19.00-19.30 ECT (GMT+1) but I wanted to familiarise myself with what for me is the Early Evening DOW as an alternative to the slow as mud GER30(DAX) except of course this evening even the DAX is moving. But for 15 -20 mins of trading that's not a bad total.

Just as an aside, if you do decide to try the DOW, be aware that you will need to change the settings on any Trade Manager you use, my first trade was a 00.00 trade (not shown) because the TM was actif and it moved me to BE as soon as I entered, so I had to switch it off and handle things manually.
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Cut your Losers short and let your Winners run.
  • #5,137
  • Jan 21, 2016 12:56pm Jan 21, 2016 12:56pm
Quoting MisterC
{quote} Wasn't expecting that, I didn't consider time.... I was wrecking my brain with technical reasons....well, thanks for answering!!
Back then because I was trading EU I also traded the news, now I am trading DAX I don,t, as very little affects the DAX other than Talk.

So really you would not have known to consider news as I rarely mention it these days.
Cut your Losers short and let your Winners run.
  • #5,138
  • Jan 21, 2016 1:01pm Jan 21, 2016 1:01pm
Quoting dee50
{quote} Back then because I was trading EU I also traded the news, now I am trading DAX I don,t, as very little affects the DAX other than Talk. So really you would not have known to consider news as I rarely mention it these days.
I should consider the news swell than. I will stick with currencies for now. Still, even with trades that are not news driven, you do have a way to filter them very well...and I am still not grasping that area of trading. Some trades you enter immediately while with other you wait for more confirmation....Hopefully, I'll get there
  • #5,139
  • Jan 21, 2016 1:04pm Jan 21, 2016 1:04pm
Quoting Matomi
{quote} Remember that any kind of indicator will not tell you what is good and what is bad entry... again, read an article which posted Dee about indicators. Indicators never were and never will tell you nothing about entries. They are giving you pure information like divergence or cycle process, but if your MA in Stochastic or MACD is below 20 or above 80, market really does not care about it. That is why Philippine can make huge pips every day even if he grabbed out Stochastic off chart. Because he is master of PA, not because the MAs in MACD...
Okay, I see your point. That entry just did not seem right. Nice trades though, except the giant DD ☺
Invincibility lies in the defence; the possibility of victory in the attack
  • #5,140
  • Jan 21, 2016 1:08pm Jan 21, 2016 1:08pm
Quoting MisterC
{quote} I should consider the news swell than. I will stick with currencies for now. Still, even with trades that are not news driven, you do have a way to filter them very well...and I am still not grasping that area of trading. Some trades you enter immediately while with other you wait for more confirmation....Hopefully, I'll get there
You will, I'm sure of it.
Cut your Losers short and let your Winners run.
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