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More simple is impossible

  • #7,141
  • May 22, 2016 10:14am May 22, 2016 10:14am
Hi guys, no offense at all, but in my humble opinion, it's more valuable to spend all your time studying how price moves and why, according to what structure, what's the psychology behind the moves, what's a trend, when is it over, etc... rather than to find a renko builder that will not repaint. In the end it will make a couple of pips of a difference, nothing you cannot make by being on the right side of the market. I would suggest to step away from the mechanics of trading and focus more on the subjective interpretation of price movements and observation of previous market structures.

Higher highs, higher lows, then lower low, last higher high taken -> ah! Wait for a retrace and sell. Done. Rince and repeat.

I know you are enjoying the journey of looking for a perfect setup but it pains me to see what I humbly consider as wasted time. Again, I am on your side, otherwise I would not bother, so I hope you will not take this few lines the wrong way.

Have a good week all.
Hidden in plain sight.
  • #7,142
  • May 22, 2016 10:15am May 22, 2016 10:15am
Quoting Matomi
{quote} It does not depends on broker, because Pepperstone, IC Markets, Interactive, Dukascopy, Saxo Bank - every broker provides tick data, but MT4 is not able to save them. This is why on Pepperstone MT4 i have only M1 data and on Pepperstone cTrader tick data as well. Your idea is great, but you can not connect with broker differently, only via platform, it would be illegal I think. And this "law" is really piece of sh.t, because tick datas are thanks to it paid (DAX 700-900 per month, bloody god...) and Metaquotes will not do anything with it....
Oh well, it was an idea. As MT4 is rather obsolete, i have considered moving to another platform like cTrader...but at the moment, I must admit - such a change scares me. Luckly, I dont use the strategy tester anymore, but I used to when I was going throught my EA phase. Best, Josh
  • #7,143
  • May 22, 2016 12:26pm May 22, 2016 12:26pm
Quoting jakucha
Hi guys, no offense at all, but in my humble opinion, it's more valuable to spend all your time studying how price moves and why, according to what structure, what's the psychology behind the moves, what's a trend, when is it over, etc... rather than to find a renko builder that will not repaint. In the end it will make a couple of pips of a difference, nothing you cannot make by being on the right side of the market. I would suggest to step away from the mechanics of trading and focus more on the subjective interpretation of price movements and...
Youre right man, I wrote it on previous page I think - it is priceless, because market still change, 1-2 brick less or more, that is negligible - swings are kept always.

Joshua - cTrader is great platform, I learnt how to use it during 1 hour, really nothing special. Only Renko bricks are missed, cTrader developers did not add these kind of charts, yet.
  • #7,144
  • May 22, 2016 2:41pm May 22, 2016 2:41pm
Quoting jakucha
Hi guys, no offense at all, but in my humble opinion, it's more valuable to spend all your time studying how price moves and why, according to what structure, what's the psychology behind the moves, what's a trend, when is it over, etc... rather than to find a renko builder that will not repaint. In the end it will make a couple of pips of a difference, nothing you cannot make by being on the right side of the market. I would suggest to step away from the mechanics of trading and focus more on the subjective interpretation of price movements and...
I agree with everything you've said jakucha. I spend the majority of my time going over Dee's charts and marking up entries and exits on my charts. Reading HH HL LH LL structure and asking myself why did it turn here...

My original question regarding the Renko EA's was directed towards Intrepidpips because I knew he had been testing a few for the repainting issue. My Ovo trial is near it's end and I was wondering what EA he recommends from his testing.

I can agree it got a little out of hand. I have the information I need so there is no need to have any further discussions on this topic.

It's nice to have someone here to get us back on track.
  • #7,145
  • May 23, 2016 2:24am May 23, 2016 2:24am
Quoting Matomi
{quote} Youre right man, I wrote it on previous page I think - it is priceless, because market still change, 1-2 brick less or more, that is negligible - swings are kept always. Joshua - cTrader is great platform, I learnt how to use it during 1 hour, really nothing special. Only Renko bricks are missed, cTrader developers did not add these kind of charts, yet.
I agree with you guys,ctrader is a great platform,renko bricks are missing but I found a custom indicator http://ctdn.com/algos/indicators/show/1086 .I believe it's a good work until ctrader offers their own renko charts,tell me your thoughts I may have missed something.
  • #7,146
  • Edited 3:19am May 23, 2016 3:08am | Edited 3:19am
Quoting jakucha
Higher highs, higher lows, then lower low, last higher high taken -> ah! Wait for a retrace and sell. Done.
could you clarify on a chart? the way i understand it you mean an uptrend (higher highs, higher lows), then a break of structure to the downside (lower low) and then take out the upside again (last higher high taken. i think i dont understand that one in this context)?! and then basically fade the upside breakout?

thanks for your help!

attached a chart to clarify my understanding of your statement:
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  • #7,147
  • May 23, 2016 3:26am May 23, 2016 3:26am
and one for the gallery. nice hidden div on the 10 pip, time of day was perfect for the start of a session move, waited for price to turn, macd rolling over on the 10 pip, 5 pip macd coiling higher while the DB formed, breakout and pullback to top of the consolidation and lined up with previous day low marked level. pulled the trigger. what a runner.
Attached Image (click to enlarge)
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  • #7,148
  • Edited 11:20am May 23, 2016 3:27am | Edited 11:20am
GER30 +19+12+39+64. That was a fast move! I made a good trade, but did manage to mess one trade up(+12). Best, Josh
Edit-updated chart-just grammar correction
Attached Image (click to enlarge)
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  • #7,149
  • May 23, 2016 3:40am May 23, 2016 3:40am
Quoting JoshuaHope
GER30 +19+12+39+64. That was a fast move! I made a good trade, but did manage to mess one trade up(+12). Best, Josh {image}
nice to see someone took the exact same trade that's awesome.
  • #7,150
  • May 23, 2016 3:47am May 23, 2016 3:47am
Quoting Stelah
{quote} nice to see someone took the exact same trade that's awesome.
Hey. It really is awesome. I think I will spend the rest of the day enjoying the sun as my daily target is hit. Best, Josh
  • #7,151
  • May 23, 2016 4:19am May 23, 2016 4:19am
Quoting Stelah
{quote} could you clarify on a chart? the way i understand it you mean an uptrend (higher highs, higher lows), then a break of structure to the downside (lower low) and then take out the upside again (last higher high taken. i think i dont understand that one in this context)?! and then basically fade the upside breakout? thanks for your help! attached a chart to clarify my understanding of your statement: {image}
Hi Stelah,

Thank you for your reply, because that's only when i read your post that I realised that I didn't write correctly. When I wrote last higher high taken, I meant the higher high source, so in fact, last higher low (demand). Sincere apologies; it was misleading.

so here is a simple drawing. high highs higher lows, up trend, until we see the last higher low taken out, meaning the last source of demand was not strong enough to push price higher or even hold it when it came back at the same level, so buyers lost interest or take profits, while bear may see the latest high as a good level to enter short orders. anyway, that s a good way to learn to be patient as i tell myself i don t short until i see the latest higher high taken out.

also atached is a chart from this morning on dax. both examples illustrate perfectly what i mean. no need to precise that it s not 100% success of course, look for this kind of setup in the right place. for instance today both reversals came from supply first and m15 m30 H1 demand later on.

then you can apply this on renko bars of course, even better, and keep in mind that the lower the time frame, the higher probability for you to be taken out but your stop is easy to place and hence should be smaller as well.

i suggest you read what lance wrote and was recommended by dee. yourtradingcoach, quite basic but one does not need more. that s precisely why it is good.
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Hidden in plain sight.
  • #7,152
  • May 23, 2016 4:24am May 23, 2016 4:24am
Quoting jakucha
{quote} Hi Stelah, Thank you for your reply, because that's only when i read your post that I realised that I didn't write correctly. When I wrote last higher high taken, I meant the higher high source, so in fact, last higher low (demand). Sincere apologies; it was misleading. so here is a simple drawing. high highs higher lows, up trend, until we see the last higher low taken out, meaning the last source of demand was not strong enough to push price higher or even hold it when it came back at the same level, so buyers lost interest or take profits,...
that makes more sense now. thanks for clarifying
  • #7,153
  • May 23, 2016 4:30am May 23, 2016 4:30am
Quoting Stelah
{quote} that makes more sense now. thanks for clarifying
sure

when you see it, you cannot unsee it. enjoy scrolling left and exploring
Hidden in plain sight.
  • #7,154
  • May 24, 2016 2:36am May 24, 2016 2:36am
Ger30 +20 +32. I am still not good at setting targets in the sense I sometimes misinterpret momentum. But, hey pips are pips and Ger30 just keeps on giving. 123 to morning gap fill, pips secured.
Attached Image (click to enlarge)
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  • #7,155
  • May 24, 2016 2:37am May 24, 2016 2:37am
Dax......+6 +7 +9 + 40x5......first stab at the gap fill showed little conviction.....second flutter took off fast
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  • #7,156
  • May 24, 2016 2:44am May 24, 2016 2:44am
Quoting JoshuaHope
Ger30 +20 +32. I am still not good at setting targets in the sense I sometimes misinterpret momentum. But, hey pips are pips and Ger30 just keeps on giving. 123 to morning gap fill, pips secured. {image}
same entry again here and exit too this time (unfortunately)
  • #7,157
  • May 24, 2016 2:47am May 24, 2016 2:47am
Quoting jakucha
{quote} sure when you see it, you cannot unsee it. enjoy scrolling left and exploring
you mean something like this?
Attached Image (click to enlarge)
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  • #7,158
  • May 24, 2016 2:49am May 24, 2016 2:49am
Quoting PhilippineFX
Dax......+6 +7 +9 + 40x5......first stab at the gap fill showed little conviction.....second flutter took off fast{image}
Great results, m8, but how did you get into that buy in the middle of a Bearish cycle, I'm missing something for sure?
Let it turn and find your entry.
  • #7,159
  • May 24, 2016 2:50am May 24, 2016 2:50am
Quoting Stelah
{quote} same entry again here and exit too this time (unfortunately)
Pips are pips, never a shame to pull them off the table. The targets were logical and with this, I met my daily target of 50. But also, we both get to learn to pay more attention to momentum better which is hard in a fast moving situation...best part - we paid nothing for the lesson, but actually pulled a profit, albeit small.
Best, Josh
  • #7,160
  • May 24, 2016 2:53am May 24, 2016 2:53am
Quoting PhilippineFX
Dax......+6 +7 +9 + 40x5......first stab at the gap fill showed little conviction.....second flutter took off fast{image}
Good pips PhilippineFX. Say, can you lend me a few k? I want to buy a dodge challenger hellcat...
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