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More simple is impossible

  • #5,981
  • Mar 16, 2016 5:43am Mar 16, 2016 5:43am
I am getting asked this on a regular basis Which EA Renko Builder am I currently using. This one.
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File Type: mq4 RenkoLiveChart_v600.6.mq4   21 KB | 649 downloads
Cut your Losers short and let your Winners run.
  • #5,982
  • Mar 16, 2016 5:56am Mar 16, 2016 5:56am
Quoting dee50
GER30+40. Easy Peasy. Compounded x10 = 400pips, can we live off that?? All we had to do was "Wait" {image}
Great trade Dee. I may have waited too long...i wanted a trendline break, but still got +26 out of it. Best, Josh
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  • #5,983
  • Mar 16, 2016 6:01am Mar 16, 2016 6:01am
my first dee type trade ...I I took the same trade as the great master for the first time .
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  • #5,984
  • Mar 16, 2016 6:08am Mar 16, 2016 6:08am
another one
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  • #5,985
  • Mar 16, 2016 6:13am Mar 16, 2016 6:13am
Hello Dee, really compliments for your trade.
I'm trying to follow you and understand the logic of your trade.
I made these two trades (I had seen divergence), can you please tell me what I did wrong?

Thank you
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Click to Enlarge Name: renko 50.PNG Size: 69 KB
  • #5,986
  • Mar 16, 2016 6:14am Mar 16, 2016 6:14am
Quoting dee50
GER30+40. Easy Peasy. Compounded x10 = 400pips, can we live off that?? All we had to do was "Wait" {image}
hello dee50 what does 2B mean ....HTF 2B??
  • #5,987
  • Edited 6:40am Mar 16, 2016 6:22am | Edited 6:40am
Quoting bettervolume
{quote} hello dee50 what does 2B mean ....HTF 2B??
.
EDIT. Replaced the chart with another with a bit more info.
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Click to Enlarge Name: 10 pip chart 2B Pattern.png Size: 34 KB
Cut your Losers short and let your Winners run.
  • #5,988
  • Mar 16, 2016 6:34am Mar 16, 2016 6:34am
Quoting bettervolume
{quote} hello dee50 what does 2B mean ....HTF 2B??
2B is a price pattern. It is like an 1-2-3 pattern, except the 3 has taken out the 1 then reversed. It is a failed 1-2-3.
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Invincibility lies in the defence; the possibility of victory in the attack
  • #5,989
  • Mar 16, 2016 6:53am Mar 16, 2016 6:53am
DAX +14 +40. target is lower but BRN and confirmed demand here, and possible divergence, dont want to be too greedy.
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Click to Enlarge Name: b6d8d9931b90988c961ca502175928d4.png Size: 55 KB
Hidden in plain sight.
  • #5,990
  • Mar 16, 2016 6:54am Mar 16, 2016 6:54am
Quoting bluslim
Hello Dee, really compliments for your trade. I'm trying to follow you and understand the logic of your trade. I made these two trades (I had seen divergence), can you please tell me what I did wrong? Thank you {image}
1. Divergence does not automatically mean that the market is going to reverse!
2. You were going CT with major S&R only 10 pips away, even less on your second short. There was a BRN 10,000 and the 50 EMA and a session 38.2% Fib creating a strong confluence area.
3. The first touch at the BRN gave Hidden Divergence (Trend continuation) so your second short was suicidal. This also created a rising Trendline.
4. There was a strong resistance area above, HTF 61.8% + BRN 10,050 which was a more obvious turning point for a CT trade
5. If you had looked at a HTF chart you would not have taken the shorts, this is the problem with 1 dimensional trading, you have to be aware of what is going on in the HTFs.
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Click to Enlarge Name: failed shorts.png Size: 37 KB
Cut your Losers short and let your Winners run.
  • #5,991
  • Mar 16, 2016 6:55am Mar 16, 2016 6:55am
another
  • #5,992
  • Mar 16, 2016 6:55am Mar 16, 2016 6:55am
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  • #5,993
  • Mar 16, 2016 7:03am Mar 16, 2016 7:03am
Quoting dee50
{quote} . EDIT. Replaced the chart with another with a bit more info. {image}
thanx dee50 I get it
  • #5,994
  • Mar 16, 2016 7:03am Mar 16, 2016 7:03am
Quoting BBalazs
{quote} 2B is a price pattern. It is like an 1-2-3 pattern, except the 3 has taken out the 1 then reversed. It is a failed 1-2-3. {image}
thanx bblaaz appreciate it
  • #5,995
  • Mar 16, 2016 7:21am Mar 16, 2016 7:21am
Quoting BBalazs
{quote} 2B is a price pattern. It is like an 1-2-3 pattern, except the 3 has taken out the 1 then reversed. It is a failed 1-2-3. {image}
Don't forget the divergence, without divergence it is just another pullback, Don't forget the BRN or S&R some where close by.

2b or not 2b that is the question! Sorry couldn't resist that but appropriate.
Cut your Losers short and let your Winners run.
  • #5,996
  • Mar 16, 2016 7:28am Mar 16, 2016 7:28am
Quoting dee50
{quote} Don't forget the divergence, without divergence it is just another pullback, Don't forget the BRN or S&R some where close by. 2b or not 2b that is the question! Sorry couldn't resist that but appropriate.
Indeed, I was just explaining the 2B pattern. Without any confluence the 2B is simply unreliable and pretty dangerous.
Invincibility lies in the defence; the possibility of victory in the attack
  • #5,997
  • Mar 16, 2016 7:35am Mar 16, 2016 7:35am
Quoting BBalazs
{quote} Indeed, I was just explaining the 2B pattern. Without any confluence the 2B is simply unreliable and pretty dangerous.
Thanks, you did a better job of explaining than me anyway, I was rushing.
Cut your Losers short and let your Winners run.
  • #5,998
  • Mar 16, 2016 7:48am Mar 16, 2016 7:48am
DAX +39. shorted again at 38.2 as my target hadn't been reached and i was blessed with a good entry level. Closed a tight early but again, happy of today's profits so far for a pre-FOMC day.
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Click to Enlarge Name: b3a9e3bd21e422e714050c350afe167e.png Size: 68 KB
Hidden in plain sight.
  • #5,999
  • Mar 16, 2016 8:01am Mar 16, 2016 8:01am
Quoting jakucha
DAX +39. shorted again at 38.2 as my target hadn't been reached and i was blessed with a good entry level. Closed a tight early but again, happy of today's profits so far for a pre-FOMC day. {image}
Very nice trading today. Welcome to our life style Although looking at where you are you probably live like royalty any way with half the pips, so not long before you buy your own island
Cut your Losers short and let your Winners run.
  • #6,000
  • Edited 8:18am Mar 16, 2016 8:08am | Edited 8:18am
thanks

i have to say it's not too bad to do more pips that the current daily range.

i have been on renks for more than a year and i consider a lot more things than the bricks themselves, as you very well know, SR, SD, fibs, market structure and patterns, correlations, risk on risk off etc... but the renks give good entries. i would be a full time trader if only i learnt to take my profits though. so hopefully, seeing the guys here taking profits regularly will rub off on me !

Edit: and i do not live in the seychelles, at least not yet. just covering my tracks.
Edit 2: and i am here because i like a challenge and catching you seems like a good one
Hidden in plain sight.
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