More simple is impossible | Page 384 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

More easy is impossible 17 replies

long-run profits impossible with short-term trading? 39 replies

Attachments: More simple is impossible
Exit Attachments

More simple is impossible

  • #7,661
  • Aug 23, 2016 8:51am Aug 23, 2016 8:51am
Quoting Intrepidpips
{quote} Good question Nelson, I didn't come up with the maths it was by observation, but afterwards I gave it a long thought why is it so? The answer is simple, consider that a moving average is the representative average of the number of bars you chose it represent, if you choose, it to represent 25 periods, it takes the number of bars you chose and obtains the average then with successive bars it gives a new reading. For the Renko bar, the higher Time Frame represents double of one Lower Time Frame bar, and occasionally it will contain a reversal...
Thanks Intrepidpips for your answer. I can see your logic. I'll have a play around with MAs and observe what happens on both HTF and LTF.
  • #7,662
  • Aug 23, 2016 6:25pm Aug 23, 2016 6:25pm
Quoting PhilippineFX
dax...+55....that was interesting {image}
Great to see you're consistant Phil,
I can see you really don't use indicators to bse your trades on. How you use them then?

Do you base your trades only in market structure?

Cheers
  • #7,663
  • Aug 23, 2016 11:39pm Aug 23, 2016 11:39pm
Quoting cfabian
{quote} Great to see you're consistant Phil, I can see you really don't use indicators to bse your trades on. How you use them then? Do you base your trades only in market structure? Cheers
I have stochs and macd up mainly out of habit....i glance at them but really all they do is confirm PA....I keep track of support and resistance points from HTF but just write them down on a sticky note so as to not clutter the charts
  • #7,664
  • Aug 24, 2016 5:18pm Aug 24, 2016 5:18pm
Quoting PhilippineFX
{quote} I have stochs and macd up mainly out of habit....i glance at them but really all they do is confirm PA....I keep track of support and resistance points from HTF but just write them down on a sticky note so as to not clutter the charts
HTF meaning bigger renko bars or candlesticks?

I'm surprised you say you confirm PA with them, as most of the times you enter trades without having a confirmation from the indicators. That is the reason of my original question.

Cheers
  • #7,665
  • Edited 9:38pm Aug 24, 2016 9:18pm | Edited 9:38pm
Quoting cfabian
{quote} HTF meaning bigger renko bars or candlesticks? I'm surprised you say you confirm PA with them, as most of the times you enter trades without having a confirmation from the indicators. That is the reason of my original question. Cheers
I use both renco5/10/20 to identify S&R as well as 1H,4H Daily etc......If there is an overnight gap I will draw it on the R5 ....Major S&R I write on a sticky note and refer them as price moves....just trying to keep the clutter down.
Stochs and Macd[and maybe the other 8,000 odd indies out there] are useless in a trending market....they do help confirm OB/OS when price ranges. Sorry for not being clear but I will try and explain it better. Say price is tending down on the REN 5 50 pips or so. Its forming its second 1234[maybe]. Price retraces 3-4 bricks and stalls for a while. This is when i switch to the ren 1 and 2 chart...because its a tighter snap shot of PA it appears to be ranging. I look for the same thing I always do on the bigger Rencos. HH/HL/LH/LL 1234 etc. So where as the Renco 5 its struggling to paint a new brick to the downside the ren 1&2 may show LL/LH and a macd that has peaked while the macd on the REN 5 is still crawling along the bottom..this may be the start of the next leg down and a good time to enter. Worth a shot with a tight SL maybe.
I will try and post an example if i see one....hope this clarifies.
  • #7,666
  • Aug 31, 2016 9:58am Aug 31, 2016 9:58am
It has become a bit quiet in this thread, but learned a lot so I thought I will post a chart.
Missed the whole london session, but could make some pips in the us session.
Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m3-pepperstone-group-limited.png Size: 31 KB

Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m4-pepperstone-group-limited-2.png Size: 29 KB
  • #7,667
  • Aug 31, 2016 10:13am Aug 31, 2016 10:13am
Last trade for today!
Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m4-pepperstone-group-limited-3.png Size: 27 KB
  • #7,668
  • Aug 31, 2016 1:36pm Aug 31, 2016 1:36pm
Quoting erkro
Last trade for today! {image}
Nice trades erkro, had the same last short on DAX this morning.
  • #7,669
  • Aug 31, 2016 1:39pm Aug 31, 2016 1:39pm
Quoting PhilippineFX
{quote} I use both renco5/10/20 to identify S&R as well as 1H,4H Daily etc......If there is an overnight gap I will draw it on the R5 ....Major S&R I write on a sticky note and refer them as price moves....just trying to keep the clutter down. Stochs and Macd[and maybe the other 8,000 odd indies out there] are useless in a trending market....they do help confirm OB/OS when price ranges. Sorry for not being clear but I will try and explain it better. Say price is tending down on the REN 5 50 pips or so. Its forming its second 1234[maybe]. Price retraces...

Thank you Phil...
I get your thought process. It will be very explainatory if you get those charts you mention to get your analysis thoroughly.

Best
  • #7,670
  • Aug 31, 2016 4:42pm Aug 31, 2016 4:42pm
Quoting erkro
It has become a bit quiet in this thread, but learned a lot so I thought I will post a chart. Missed the whole london session, but could make some pips in the us session. {image} {image}
Very nice.....
  • #7,671
  • Aug 31, 2016 5:03pm Aug 31, 2016 5:03pm
Quoting PhilippineFX
{quote} Very nice.....
Thanks!
  • #7,672
  • Aug 31, 2016 5:03pm Aug 31, 2016 5:03pm
Quoting cfabian
{quote} Nice trades erkro, had the same last short on DAX this morning.
  • #7,673
  • Sep 8, 2016 10:03am Sep 8, 2016 10:03am
My trades from today.

+ 25 overall

How you guys doing?

Miss Dee very much... lots of activity back then, and hugh lerarning. Hope some day he comes back.

Best
Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m2-forex-capital-markets.png Size: 33 KB
  • #7,674
  • Edited Sep 9, 2016 12:56am Sep 8, 2016 1:06pm | Edited Sep 9, 2016 12:56am
Hi !!!!!
I am almost new here. Im reading full thread ( still on page 220 ). Practicing on demo and learning a lot from you all.
Hope I will can start uploading my charts soon ( to teach everybody what not to do LOL )
Thx a lot for all you effort to teach noobs like me :-)
  • #7,675
  • Sep 8, 2016 3:26pm Sep 8, 2016 3:26pm
Quoting cfabian
My trades from today. + 25 overall How you guys doing? Miss Dee very much... lots of activity back then, and hugh lerarning. Hope some day he comes back. Best {image}
Well done, great example of Cats post which mentioned Philippine in couple posts back. Gold middle, follow trend not your assumptions.
  • #7,676
  • Sep 9, 2016 10:05am Sep 9, 2016 10:05am
Was a little bit late today, but it was ok!
Attached Image (click to enlarge)
Click to Enlarge Name: ger30-m3-pepperstone-group-limited.png Size: 26 KB
  • #7,677
  • Sep 25, 2016 2:50pm Sep 25, 2016 2:50pm
Hy guys.

Which indicator do you use to have Live Renko Chart on your MT4?
It's not over, until I win.
  • #7,678
  • Sep 26, 2016 1:32pm Sep 26, 2016 1:32pm
Quoting ItaTrader93
Hy guys. Which indicator do you use to have Live Renko Chart on your MT4?
Hi, I use Ovo Renko Charts, its a payed renko builder, but you find two renko ea's in this thread, both work very well. In the right upper corner click at file attachements, there you can download the renko ea's:
1. RenkoLiveChart_v600.6
2. renkolivecharts_pimped_v4_13_600
  • #7,679
  • Sep 26, 2016 2:36pm Sep 26, 2016 2:36pm
Quoting erkro
{quote} Hi, I use Ovo Renko Charts, its a payed renko builder, but you find two renko ea's in this thread, both work very well. In the right upper corner click at file attachements, there you can download the renko ea's: 1. RenkoLiveChart_v600.6 2. renkolivecharts_pimped_v4_13_600
Hy Erkro, many thanks for your answer. Actually, i've already downloaded and tested the thread indicator, and i think "Range Bar" is one of the best.

Good trading
It's not over, until I win.
  • #7,680
  • Edited 3:00am Sep 27, 2016 2:48am | Edited 3:00am
Dax......+47, +49........does not get much easier when the gap fills in the same direction as a strong 3 day trend
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB
12 traders viewing now