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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #1591 (permalink)
Elite Member
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yroyal's Avatar
 
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Today's Price action was an excellent example of how you can avoid bad trades by trading only in the direction of the stepMA. There were three winning trades only.

On shorter interval charts, your exits should be strictly target based. When you get your target you get out !

This is similar to Jeff's concept of trading only in the direction of the 50 MA, but I like StepMA over other MAs as they give SR breakout levels too..

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  #1592 (permalink)
Trade with the flow
Paris, France
 
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mahlonhersh View Post
Cunparis,
I agree that higher tick settings give smoother charts, with much larger stops. I have found that it seems to work to trade from the small chart ONLY in the direction of the larger chart.

That was very helpful. I was trying trading a ES 6 tick (SBSRenko) but I love the looks of the 2 tick. So combining both makes a lot of sense. Like Jeff's anchor.

If anyone has any preferred tick sizes for CL or Euro please let me know. I'm experimenting with 10 for CL and 8 for Euro.

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  #1593 (permalink)
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CL


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These SBS Renko charts are very interesting.....they seem to have built-in support/resistance. If anyone knows where I can go to read more about them please let me know.

As you know I have been infatuated wil CL lately.....my first week live worked out very well. As Big Mike has mentioned.....it is a very dangerous market....yet the volatility is great for trading. The best thing about it is that it seems to honor support and resistance levels. This makes it easy to place resting orders and just wait to get taken into the market......or not.

I'm one and done for today.....always like to finish the week on a positive note !!!

Jeff

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  #1594 (permalink)
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I've been using MTF Renko testing them out. 2/6 tick on the ES has given me quite a bit of success this week.

I prefer to have 3-5 times the range on the larger chart compared to the smaller one. I trade in the direction of the larger, controling my risk/entry on the smaller.

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  #1595 (permalink)
Trade with the flow
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Jeff Castille View Post

I'm one and done for today.....always like to finish the week on a positive note !!!

I finished +440 on the renko trading (on sim). Pretty much the same way I trade on tick & minute charts, but no volume (HVC doesn't work on renko cause the bar range is funky). Real money I made only $27 (Got stopped out of a euro trade for -$280 so that ruined my day, fortunately I didn't give up and I made it back on CL).

$440 vs. $27 using pretty much the same trading setups. Beginner's luck? We'll find out next week.

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  #1596 (permalink)
Trade with the flow
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Here's my renko desktop.

I'm not using all these indicators, just messing around. been changing them around all throughout the day. For now I don't really see a use for the particle oscillator.

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  #1597 (permalink)
Trade with the flow
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Turning Point View Post
I've been using MTF Renko testing them out. 2/6 tick on the ES has given me quite a bit of success this week.

I prefer to have 3-5 times the range on the larger chart compared to the smaller one. I trade in the direction of the larger, controling my risk/entry on the smaller.

I use a factor of 3-5 as well. 15m/5m/1m or for ticks it's a factor of 3.

With the renko charts, I find a factor of 2 can be way more than a factor of 3 timewise. So I'm still working out how much bigger the anchor should be. I know Jeff uses 1.5.

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  #1598 (permalink)
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cunparis View Post
I use a factor of 3-5 as well. 15m/5m/1m or for ticks it's a factor of 3.

With the renko charts, I find a factor of 2 can be way more than a factor of 3 timewise. So I'm still working out how much bigger the anchor should be. I know Jeff uses 1.5.

Check out CL with sbs renko 14 and 20 and see if you like it.

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  #1599 (permalink)
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i looked at the sbs renko wasnt for me,jeff good job you guys should look at the step ma,also you can change the setting from .03 to just 3 and it will be very much like the allas average...sharky

KILLING THE MARKETS DAILY
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  #1600 (permalink)
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StepMa


Added the Stepma on a SbSRenko Chart.
Also if you look closely, you can see the ADXVMW_Sharky, setting 5.
If all lines are matching, you have a trade...
Pictures showing 4 ticks SbSR and 2 Ticks SbSR ES Charts.

But if anyone can explain in detail the ADXVMW, I would be happy.... ;-)


Thanks Sharky.

Jojo

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All you need-6e-12-09-6_11_2009-sbsrenko-4-ticks-.jpg   All you need-6e-12-09-6_11_2009-sbsrenko-2-ticks-.jpg  
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