Renko in underwear - Trading Journals | futures io social day trading
futures io futures trading


Renko in underwear
Updated: Views / Replies:4,528 / 48
Created: by kmidas Attachments:55

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 55  
 
Thread Tools Search this Thread
 

Renko in underwear

  #31 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

https://futures.io/trading-journals/17881-renko-underwear-3.html#post199527

Some times better be lucky than smart. I had put here two pending orders. On for short, which was my intended direction, and a counter trade long just in case I was wrong. Well I was wrong but even better my short order didn't trigger at all. Instead my buy order triggered and flied to my TP.

Buy 0.91319
Sell 0.92003
Stop 0.90687

Profit +68.4 pips

Attached Thumbnails
Renko in underwear-usdchf.png   Renko in underwear-usdchf1d.png  
Reply With Quote
 
  #32 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

EURJPY. After the big move yesterday it halted at the resistance @108.000 and then printed a new bar breaking the higher DC line. I entered long to follow the trend but unfortunately it failed. Well, losses happen. I also entered a counter trade so I can get my refund. Unfortunately the range is so tight that the pair is not moving anywhere and I am sitting on a second loss right now. On the other hand I am glad that this happened and I hope it will happen some more in the future so I can see how my theory stands.

First trade:
Buy 108.543
Stop 107.991
TP 109.500

Loss -55 pips

Second trade:

Sell 107.988
Stop 108.541
TP 107.321

So far loss -22.5 pips

Attached Thumbnails
Renko in underwear-eurjpy.png   Renko in underwear-eurjpy1.png  
Reply With Quote
The following user says Thank You to kmidas for this post:
 
  #33 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received


I made an expert advisor that buys on two consecutive bars after a red bar and sells after two red bars following a green bar. The positions are trailed with a 60 pips trailing stop which is the trade close criteria. The EA is attached to all the pairs that I am following. That's it. No discretion involved. I expect some loses on ranging markets but I hope gains will be big enough to pay for the loses. This EA is running on a separate demo account and has nothing to do with my current account which I will continue to trade manually. Tomorrow I will add that account to myfxbook also.

I am attaching a chart of the kind that I expect to cause me some trouble.

Attached Thumbnails
Renko in underwear-gbpchf.png  
Reply With Quote
 
  #34 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

https://futures.io/trading-journals/17881-renko-underwear-3.html#post199502

This trade came to an end. Despite my trailing stop I didn't have much more gain than if I had taken my profits in my intended level. It did go higher and I gave back 60 pips. Exit @82.878. Profit +130 pips.

Attached Thumbnails
Renko in underwear-cadjpy.png  
Reply With Quote
 
  #35 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

USDCAD is playing around the 1.0000 level. It seems that in the 0.98 it bounced back and is trying to creep up back to parity. Now that I look it again it doesn't look like a good solid place to have found resistance. Not much confluence of facts. On the other side on the 30 min charts there was a 2B pattern so that looks encouraging.

Long @0.99288
SL @0.98730
TP @1.0000

And of course the counter trade pending
Short @0.98712
SL @0.99273
TP @0.98440 where the resistance is.

Unfortunately this pair consolidated today. No strong move and watching the Renko chart now is like I was watching it this morning. I am going to sit and wait. After a consolidation comes the trend.

Attached Thumbnails
Renko in underwear-usdcad.png   Renko in underwear-usdcad30m.png  
Reply With Quote
 
  #36 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

BTW, that Expert Advisor I made yesterday, doesn't seem to work, or the market didn't revers anything today. I didn't have much time to investigate what's wrong with it. I hope I can find some time in the next days.

Reply With Quote
 
  #37 (permalink)
Elite Member
MIAMI,FL
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Private
Favorite Futures: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,875 received

i would suggest you just trade the euro or pound future,6e or 6b,also dont worry about makeing a autotrader just do it yourself,also wait for your candle to open above your ma for a long or under it for a short and take those swings off your chart you can see where your ladt swing was it is just cluttering your chart,alsp i would try a renko 4 or 6 or 8 range instead of a pip chart.your method can be traded with some minor mods and some pratice. oh yeah dont try to reverse your trades it wont work...sharky

KILLING THE MARKETS DAILY
Reply With Quote
The following 2 users say Thank You to sharky for this post:
 
  #38 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received

https://futures.io/trading-journals/17881-renko-underwear-4.html#post199985

This trade failed and failed miserably. That is the bad news. The good news is that there are useful lessons to be extracted from this failure.

1. I was overoptimistic with this trade. The trend on the daily is up in this pair so how I was expecting to go that far on the short side? Also there was a clearly defined resistance @107.75. There is where I should have put my TP.
2. All positions should be trailed with a stop of 60 pips. 2 bars back.

The funny thing is that as I write these lines the price is bouncing down from my SL
Loss -55 pips

Attached Thumbnails
Renko in underwear-eurjpy.png  
Reply With Quote
 
  #39 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received


sharky View Post
i would suggest you just trade the euro or pound future,6e or 6b,also dont worry about makeing a autotrader just do it yourself,also wait for your candle to open above your ma for a long or under it for a short and take those swings off your chart you can see where your ladt swing was it is just cluttering your chart,alsp i would try a renko 4 or 6 or 8 range instead of a pip chart.your method can be traded with some minor mods and some pratice. oh yeah dont try to reverse your trades it wont work...sharky


Thanks for you comments sharky. I am trying the Expert Advisor for educational purposes mostly. Unfortunately renko can't be backtested with metatrader so I hope I can get some good conclusions from the expert advisor. As for the swings I think I have some usefoul idea how to use them. I am trying to apply 3 different setups on trading the renko. Yeah it probably clutters my chart too much but I hope with enough training my eye will be able to see through the clutter. What is renko with range?

Reply With Quote
 
  #40 (permalink)
Trading for Fun
Greece
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: forex
 
kmidas's Avatar
 
Posts: 68 since Feb 2011
Thanks: 8 given, 26 received


GBPCHF. Deep loss in this trade. Not sure what exactly has happened. I entered short on this trade trying to take advantage of new DC breakout. I entered a trailing stop of 60 pips (or 600 as my broker calls them) and left my merry way. I didn't enter a TP and I didn't enter the counter trade. When returned back home I found my position deep in -145 pips loss and totally unprotected. No stop loss at all. As it seems only a trailing stop is not enough. A initial precise stop is also needed.

Short @1.43285
Exit @1.44742

Loss -145 pips and a big WTF.

Update: It seems that the trailing stop option doesn't work in Oanda's MT4 when the terminal is off line. Oanda says that if one requires offline trailing stop then one should use their fxtrade app.

Attached Thumbnails
Renko in underwear-gbpchf.png   Renko in underwear-gbpchf2.png  

Last edited by kmidas; March 13th, 2012 at 07:08 PM.
Reply With Quote

Reply



futures io > > > Renko in underwear

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Better Renko aslan The Elite Circle 267 August 16th, 2017 11:49 AM
Renko TheWizard Traders Hideout 42 May 30th, 2015 12:33 AM
What is the difference in the regular Renko charts and the Median Renko charts PamH NinjaTrader 17 February 21st, 2012 08:16 PM
Better Renko Big Mike Platforms, Tools and Indicators 0 October 24th, 2010 04:07 PM
Better Renko For TradeStation gmorgan111 Traders Hideout 3 October 2nd, 2010 08:40 AM


All times are GMT -4. The time now is 03:37 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.196.201.241