Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
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..
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.
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 !!!
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 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.
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.
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.
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
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.... ;-)
