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  • #5,861
  • Mar 9, 2016 12:07pm Mar 9, 2016 12:07pm
Quoting cfabian
Results are impressive, however, you were lucky price shoot up straight, with no single candle closing aginst to cause DD. {quote}
You are absolutely right. For anyone who is struggling identifying entries I really do not recommend that you use this EA, I repeat, For anyone who is struggling identifying entries I really do not recommend that you use this EA, this EA can wipe out a small account in minutes and a large account in a matter of hours.
YOU need to correctly identify the direction of the market before you unleash it and it helps if you can switch it off before the end of the move, so you also need to be able to identify the market turn otherwise you could have 20+ trades with no where to go but in reverse (loss).

Think about it! If the EA is so brilliant why are there only a hand full of traders who can safely use it.

I have used a number of similar EAs in the past and they all have one thing in common, they only work if you activate them and point them in the right direction at the appropriate time.

This morning I was lucky the market took of and ran, it could have so easily gone the other way and I could have been nursing a 100 or more pip loss.

You have been warned!!
Cut your Losers short and let your Winners run.
  • #5,862
  • Mar 9, 2016 12:19pm Mar 9, 2016 12:19pm
Quoting dee50
{quote} you are absolutely right. For anyone who is struggling identifying entries i really do not recommend that you use this ea, i repeat, for anyone who is struggling identifying entries i really do not recommend that you use this ea, this ea can wipe out a small account in minutes and a large account in a matter of hours. You need to correctly identify the direction of the market before you unleash it. You have been warned!!
0% margin of error precision trading
Let it turn and find your entry.
  • #5,863
  • Mar 9, 2016 12:48pm Mar 9, 2016 12:48pm
Quoting Intrepidpips
{quote} Could you share that RSI Divergence indie, I have this obsession for divergence, and yeah to hell with the AM and PM fixes, most times divergence will give you a heads up where they are pushing price to.
just be careful going long around 10am and 3pm UK time

http://www.bloomberg.com/news/articl...k-manipulation

http://www.zerohedge.com/news/2013-1...ing-london-fix
  • #5,864
  • Mar 9, 2016 1:44pm Mar 9, 2016 1:44pm
Quoting Ren1058
{quote} just be careful going long around 10am and 3pm UK time http://www.bloomberg.com/news/articl...k-manipulation http://www.zerohedge.com/news/2013-1...ing-london-fix

Hi Ren, is that Ren as in short for Renko?

One thing that I've come to love about using the Renko is that you do not have to be married to a bias, patterns warn you when to exit a move, and show when a reversal is imminent.

Anyways I don't trade gold, but when I used to trade off the H1 charts, I used to get caught by the London Fakey a lot.
Let it turn and find your entry.
  • #5,865
  • Mar 9, 2016 1:54pm Mar 9, 2016 1:54pm
I tend to disagree with this point as per bias. I do believe you have to have a bias, and enter in that direction when you get signaled to do so. At least to me has been difficult to trade in both directions during a trading sesion. Even trading with bias is difficult. It will be great if you can share the way you look at it and those turning points. Hopefully you can open my eyes.

Best



Quoting Intrepidpips
{quote} Hi Ren, is that Ren as in short for Renko? One thing that I've come to love about using the Renko is that you do not have to be married to a bias, patterns warn you when to exit a move, and show when a reversal is imminent. Anyways I don't trade gold, but when I used to trade off the H1 charts, I used to get caught by the London Fakey a lot.
  • #5,866
  • Mar 9, 2016 3:33pm Mar 9, 2016 3:33pm
Quoting cfabian
Philippine, I'm still confused on the way you enter your trades. Many times I don't see correlation with indicators, and some are in the middle of a run. What do you see? What is a fact is that you have most of your trades positive. Best {quote}
The first 6 trades were taken while price was cycling steadily downward.....take a closer look. My trades were short and were entered on stochs crossing OB and OS.......the next 4 trades were on a trend-line break-out of 90 pips, the first 50 pips were in less then 3 minutes....i got spooked out for 6 and re-entered when i thought consolidation was failing to hold the ceiling. That was the first nice run in days where price acted like the old dax.
After this posting i had 14 more trades 6 were BE plus 2 had a couple at -10 a couple more at -2 and the rest in small profit[3-14 pips]. I just never got around to posting.
Like Dee i move my BE to +2 as SOON as possible. If i enter on the 3 renco which has been the case lately i drop to the 1 Renco to monitor price closely and drag the SL line down when price goes my way even a few pips. So much of this is pure feel for PA. Lately as the Dax has been slow to move and i just observe the 1 renco. It helps with that feel that honestly I can not explain.
There are times when I just scalp the 1 Renco for 2-5 pips[very tight SL] but that does not have a place on this thread....
For the past few months its been clicking and until something changes [in my head] i will stay with it.......i do not think this style of trading is good for most people....I just post the odd chart so maybe a couple guys see something they like in them...
I watch this thread with interest and enjoy seeing the new blood and ideas....
hope this all helps....cheers
  • #5,867
  • Mar 9, 2016 3:40pm Mar 9, 2016 3:40pm
Quoting dee50
{quote} You are absolutely right. For anyone who is struggling identifying entries I really do not recommend that you use this EA, I repeat, For anyone who is struggling identifying entries I really do not recommend that you use this EA, this EA can wipe out a small account in minutes and a large account in a matter of hours. YOU need to correctly identify the direction of the market before you unleash it and it helps if you can switch it off before the end of the move, so you also need to be able to identify the market turn otherwise you could...
Or you could 5 fold the number of lots and do this old school....but damn it would be fun to watch this 2 stroke scalping machine live....
  • #5,868
  • Mar 9, 2016 4:38pm Mar 9, 2016 4:38pm
Quoting vwknight
{quote} Hi New to the thread and also Renko. Currently toying with Renko with mixed results. Never liked indicators. Still getting wrong at entry and exit. Normally when is the best time to enter the trade? a) Enter the minute the Bar changes in color and another bar is started? b) Do you still see the support and resistance area for scalping? c) Any other consideration before entering the trade? d) Exist after close of a bar in the opposite color? Would appreciate any clarification provided...thanks
Welcome to thread

a) Nothing like that, I do not wait for close candle or opposite colour brick, this learnt me Philippine, and it is key to low SL and high TP trades. My entries are based on the end of cycle + Fibo, mainly...
b) I watch only for significant S/R (daily high/low or very frequently tested areas)
c) Only pure PA
d) As I wrote, nothing like that, just observing previous cycles and trying to put TP in logical distance, but with consciousness to BRN, S/Rs and so on.

Hope it will help you, GL
  • #5,869
  • Mar 9, 2016 9:13pm Mar 9, 2016 9:13pm
Quoting Matomi
{quote} Welcome to thread a) Nothing like that, I do not wait for close candle or opposite colour brick, this learnt me Philippine, and it is key to low SL and high TP trades. My entries are based on the end of cycle + Fibo, mainly... b) I watch only for significant S/R (daily high/low or very frequently tested areas) c) Only pure PA d) As I wrote, nothing like that, just observing previous cycles and trying to put TP in logical distance, but with consciousness to BRN, S/Rs and so on. Hope it will help you, GL
Thanks a lot friend...really appreciate it. :-)
  • #5,870
  • Edited 1:42am Mar 10, 2016 1:22am | Edited 1:42am
Quoting Intrepidpips
{quote} Hi Ren, is that Ren as in short for Renko? One thing that I've come to love about using the Renko is that you do not have to be married to a bias, patterns warn you when to exit a move, and show when a reversal is imminent. Anyways I don't trade gold, but when I used to trade off the H1 charts, I used to get caught by the London Fakey a lot.
Yes short for renko, hardly original. +13 overnight and short...edit.. and now long
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  • #5,871
  • Mar 10, 2016 2:48am Mar 10, 2016 2:48am
Gold (+30)

Starting the day right. On the 10 pips Renko, the price was waaay oversold according to the Stoch.

Regular divergence on both MACD and Stoch, plus Stoch had mini regular divergence on the low.
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Invincibility lies in the defence; the possibility of victory in the attack
  • #5,872
  • Mar 10, 2016 6:30am Mar 10, 2016 6:30am
Quoting cfabian
I tend to disagree with this point as per bias. I do believe you have to have a bias, and enter in that direction when you get signaled to do so. At least to me has been difficult to trade in both directions during a trading sesion. Even trading with bias is difficult. It will be great if you can share the way you look at it and those turning points. Hopefully you can open my eyes. Best {quote}
I normally take my bias from the H1 charts I look at what the H1 charts can tell me and form my basis, Divergence, S&R, Double tops and Bottoms and sometimes if the daily is strongly bullish or bearish.

Along the line you will agree there's absolutely no way you can predict if price will actually drop as far as your fib retracements and extensions, price can start to drop like it's been hauled down a cliff only to abruptly halt and turn in the other direction, now in comes the beauty of Renko trading, 9 out of 10 times you will see the exhaustion by way of divergence, the MACD is given full expression as Moving Average Convergence and DIVERGENCE.
Stochastic does it's own share of reporting Divergence better than RSI IMHO, so my humble approach is to have a bias, trade with a healthy lot size and quit when you see Divergence forming against your position, count your profit and wait for the next valid signal.
You may eventually miss a home run when price stalls after a slight retracement and resumes but a longer time view or higher brick size could keep you in the trade.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #5,873
  • Mar 10, 2016 7:07am Mar 10, 2016 7:07am
Quoting Intrepidpips
{quote} I normally take my bias from the H1 charts I look at what the H1 charts can tell me and form my basis, Divergence, S&R, Double tops and Bottoms and sometimes if the daily is strongly bullish or bearish. Along the line you will agree there's absolutely no way you can predict if price will actually drop as far as your fib retracements and extensions, price can start to drop like it's been hauled down a cliff only to abruptly halt and turn in the other direction, now in comes the beauty of Renko trading, 9 out of 10 times you will see the exhaustion...
Case in point Mar 2nd, the daily trend was sweetly bullish but the bulls had to rest a while, the H1 had signaled a RD and the Renko 8 also reported it I went short and price turned and made a higher high, if you had been triggered to go long having a long bias, you'd have been caught in a classic London Fakey, because price dropped again and finally rallied after sucking some people in, I mean you need a SL of 70 pips to survive that drop before the rally.

What I really like is what dee50 does at times, that is wait for a triangle or wedge pattern breakout on the Dax and ride, but GJ has not been giving me that maybe I have to use Renko 10 to wait for it.

If you want to be catching the big moves with bias, then maybe Renko 10 or 15 would do but I want to get in and out grab 10 pips a couple of times and I'm done, my confidence is growing by the day with Renko 5.
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Let it turn and find your entry.
  • #5,874
  • Mar 10, 2016 7:49am Mar 10, 2016 7:49am
I have been busy with some other work lately but have been keeping an eye on the thread but I must say this thread is getting better and better everyday ,I see lots of green pips here ...keep it up guys
  • #5,875
  • Mar 10, 2016 7:51am Mar 10, 2016 7:51am
my pepperstone was working fine all morning but now it doesn't want to connect ....anyone else having this problem
  • #5,876
  • Mar 10, 2016 8:16am Mar 10, 2016 8:16am

mario noi ti amiamo!
(mario we love u!!)

this is a f***in' wild market..
nescentia necat
  • #5,877
  • Mar 10, 2016 8:17am Mar 10, 2016 8:17am
Quoting bettervolume
my pepperstone was working fine all morning but now it doesn't want to connect ....anyone else having this problem
no prob with activetrades..
nescentia necat
  • #5,878
  • Mar 10, 2016 8:31am Mar 10, 2016 8:31am
Quoting bettervolume
my pepperstone was working fine all morning but now it doesn't want to connect ....anyone else having this problem
My pepperstone was going wild all morning with spread jumping from 10 -27. This is a demo, i just "watched the moves" trying to improve my trend bias skills. I must admit, i would have entered some of the trades in the wrong trend. But all it takes is take a few SL -12 trades to make the session bad.
Best, Josh
  • #5,879
  • Mar 10, 2016 8:42am Mar 10, 2016 8:42am
Quoting JoshuaHope
{quote} My pepperstone was going wild all morning with spread jumping from 10 -27. This is a demo, i just "watched the moves" trying to improve my trend bias skills. I must admit, i would have entered some of the trades in the wrong trend. But all it takes is take a few SL -12 trades to make the session bad. Best, Josh
I must admit that I am joined from close 10000 and I have not wanted to look at the morning so as not to fall into temptation.
so I lost all the long part of the day, and there I do not know...
but spreads and slippage in the normal on my account. real.
nescentia necat
  • #5,880
  • Mar 10, 2016 8:47am Mar 10, 2016 8:47am
GER30+2+2+55+13+148+142+59+35. a few from this afternoon courtesy of Draghi.
Spread is up and down, no big surprise, but I have had no freezes so Pepperstone must have fixed their server.
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Cut your Losers short and let your Winners run.
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