{quote} I suppose if the range you select will show that, then it will show under certain conditions. I was thinking if you have a Renko set to 25, and price ranges under 25, then a new candle would never be drawn. You only lose time while waiting for the market to move again. But, perhaps you use Renko in such a way that you get alternating candles, so for you, it might be different. If you have an alternating Renko, I would think you would be screwed, so hopefully you have a plan for that. But, that emphasis my initial point. You have got to have...
Ignored
yes definitely,for example if i want a range of 10 pips, i pick a 10 pips renko charts, and if price ranges under 10pips i dont do anything. My point is, consolidations can definitely be observed on renko and you can even decide the range of the consolidation beforehand. Now how or if this can be traded, i have zero clue.
One of the all time secrets is,at the end of every trading day write down 3 things that you need to improve about yourself and work on them.Repeat this everyday and you will bring out the best in you.
Ignored
Very good advice, the best thing to do especially when we lose funds is to seek ways to learn from what happened. In this way we might avoid that pitfall, but this can only be possible when we are calm in reacting to loses.
{quote} Very good advice, the best thing to do especially when we lose funds is to seek ways to learn from what happened. In this way we might avoid that pitfall, but this can only be possible when we are calm in reacting to loses.
Ignored
Quite true! Even when we lose a trade we should not be disappointed. Instead look for the possible solutions and develop an alternative strategy to improve our results. Don’t be emotional and be vengeful after losing some funds, It just further kills our profits.
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Joined Mar 2017
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To be honest, I have improved my live trading performance by using trading journal with a note book! Yes, having profitable trading strategy is important but trading discipline is more important here! No one can success here without discipline and plan! I usually use off days of market to study on my live trading mistakes and errors, and of course I am hopeful about my success!
One of the all time secrets is,at the end of every trading day write down 3 things that you need to improve about yourself and work on them.Repeat this everyday and you will bring out the best in you.
Ignored
Absolutely correct. Along with writing down the things you need to improve, you can also write about the ups and downs while trading. Like noting down the impact of news on the market and how the price move in response to that. This will also prove helpful as you can analyze how the market will react when some similar news came. For this maintaining a trading journal is a best idea.
