FlexRenko in day trading - Trading Journals | futures io social day trading
futures io futures trading


FlexRenko in day trading
Updated: Views / Replies:54,312 / 644
Created: by Outlander Attachments:418

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
 418  
 
Thread Tools Search this Thread
 

FlexRenko in day trading

  #141 (permalink)
Trading for Fun
Vienna Austria
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: NQ, FGBL, 6E, GC
 
Posts: 117 since Mar 2012
Thanks: 16 given, 65 received


Outlander View Post
Thanks for your swift reply. For the EC something like 30-29-28, YM might 40-39-38, More volitile futures like the DAX needs at least 50-49-48. As you can see all settings uses 1 tick less for the mid setting and 2 tick less for the last setting. If using that order you get the trend channel look as you can se in all my chart posted. I think it better with to "large" setting then to "small" settings. It prevent the "trend" to chop. The break out trades then the trend changes workes best in more volite futures. The stop dont have to be that large as the trades that works seems to have a smaller draw down than the loosing ones. If no entry on a trend change a pullback entry might work. To not catch a falling knife I use a stopentry 4-5 tick from the High/Low of the pullback against the trend. Regards Outlander

Testing those settings now, let me show you one of the entries i have been working.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



So my normal systme provides me with a relatively precise entry point with a stop of 3 ticks. Now i would normally scalp out for +5 or 6 ticks as indicated on the chart1, but as you can see on chart 2 at the same time we had a signal bar forming. While i agree that if you look at the top left part of the lower left corner there could have been fakeouts/spikes it generally seems to be the case that these signal upmoves will provide at least 4-5 more ticks in your direction. On the larger timeframes (right side of picture 2) you can see the signal bar forming in the mean time. Now once those would have closed you would have had essentially a golden ticket to simply "ride the trend". Essentially taking 3x more in terms of profit than you regularly would.

So this is one of the applications I am currently developing for my exit strategies using flexrenko.
I generally like the idea of using your type of entry system but i have yet to discover more "data" for the higher timeframes. As of yet i am unsatisfied with the settings, each of them is peculiar in its own way and has advantages and disadvantages. 10-9-8 is relatively interesting and 13-12-11 seems to work out nicely for longer moves and displays the same data as the 10-9-8 but reducing the "noise".
on the other hand 5-4-3 is too noisy yet provides a cleaner view for certain entries whereas 4-3-2 is generally much much much more precise but if you dont have an entry system you are going to get suckerpunched by the "whipsaws" and countermovements.

The charts are interessting that way, as i said i will definitely check out your settings for the higher timeframes, i am very interested in the concept of entering limit orders on retracements and how to minimize stops, or if im just going to go with the smaller timeframes. I wanted to ask you, have you tried playing around with geometry and flexrenkos? I.E trendlines or andrews pitchfork or fibonacci (expansion, projection, retracement etc ?)

Reply With Quote
The following 5 users say Thank You to Amnesia for this post:
 
  #142 (permalink)
Elite Member
San Diego, California
 
Futures Experience: Intermediate
Platform: NinjaTrader, Felton
Favorite Futures: CL, GC
 
Hapster's Avatar
 
Posts: 140 since Aug 2009
Thanks: 38 given, 81 received

Not exactly FlexRenko, but these "renko" bars have some nice, profitable swings... gotta just keep 'riding the waves' and reversing at all the trend changes in this GC market....

H

Attached Thumbnails
FlexRenko in day trading-capture370.png  
Reply With Quote
The following user says Thank You to Hapster for this post:
 
  #143 (permalink)
Trading for Fun
Vienna Austria
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: NQ, FGBL, 6E, GC
 
Posts: 117 since Mar 2012
Thanks: 16 given, 65 received



Hapster View Post
Not exactly FlexRenko, but these "renko" bars have some nice, profitable swings... gotta just keep 'riding the waves' and reversing at all the trend changes in this GC market....

H

That is a very interesting setup.. Ninjatrader i presume?

Reply With Quote
 
  #144 (permalink)
Elite Member
Všnersborg Sweden
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: Transact
Favorite Futures: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 392 since Jan 2013
Thanks: 552 given, 132 received


Amnesia View Post

I wanted to ask you, have you tried playing around with geometry and flexrenkos? I.E trendlines or andrews pitchfork or fibonacci (expansion, projection, retracement etc ?)

Thanks that line of yours seems to do well. I have not tested I.E trendlines or andrews pitchfork or fibonacci (expansion, projection, retracement. But I use 50% area for entrys on a pullback. The first 1 I dont know what it is. (I am from Sweden) I know Andrews Pitchfork and Fibbonacci. I will look at it and see if I can come up with something. Regards Outlander

Reply With Quote
 
  #145 (permalink)
Elite Member
San Diego, California
 
Futures Experience: Intermediate
Platform: NinjaTrader, Felton
Favorite Futures: CL, GC
 
Hapster's Avatar
 
Posts: 140 since Aug 2009
Thanks: 38 given, 81 received


Amnesia View Post
That is a very interesting setup.. Ninjatrader i presume?

Yes, Ninjatrader

Reply With Quote
 
  #146 (permalink)
Trading for Fun
Vienna Austria
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: NQ, FGBL, 6E, GC
 
Posts: 117 since Mar 2012
Thanks: 16 given, 65 received

Love the colors and the look/feel of the chart, whats that indicator you are using for the lines?


@Outlander

First tests are looking promising.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


So far im quite happy, my exit efficiency has gone up dramatically and correlates with my overall entry efficiency now. Also its a neat reward you can reap for trading only 1 contract, very rewarding. i wish every day was like this.

Results on FGBL Future and Nasdaq are even more impressive actually than on 6E. This tool is definitely a goldmine when it comes to exit strategies and holding trades. Thanks for sharing, i still feel the need to make some additional tweaks to it before beginning on working on an automated system and using this as exit criteria, but i need to look a bit deeper into sierracharts coding mechanisms for that.

Will update once i have more findings.

Reply With Quote
The following 2 users say Thank You to Amnesia for this post:
 
  #147 (permalink)
Elite Member
Všnersborg Sweden
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: Transact
Favorite Futures: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 392 since Jan 2013
Thanks: 552 given, 132 received

EC


Quoting 
Amnesia

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


You test is great. This my test run EC today. Regards Outlander

Reply With Quote
The following 3 users say Thank You to Outlander for this post:
 
  #148 (permalink)
Elite Member
San Diego, California
 
Futures Experience: Intermediate
Platform: NinjaTrader, Felton
Favorite Futures: CL, GC
 
Hapster's Avatar
 
Posts: 140 since Aug 2009
Thanks: 38 given, 81 received

Instead of all in/all out on one contract, have you thought of trading TWO contracts and reversing with THREE contracts each time and trailing the entry stop up to reverse at trend change, but in the meantime, covering one of the two contracts at 8-10 ticks when that profit is available on the one contract, thus always trailing ONE at all times?

H

Reply With Quote
 
  #149 (permalink)
Elite Member
Všnersborg Sweden
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: Transact
Favorite Futures: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 392 since Jan 2013
Thanks: 552 given, 132 received

multiple contracts


Hapster View Post
Instead of all in/all out on one contract, have you thought of trading TWO contracts and reversing with THREE contracts each time and trailing the entry stop up to reverse at trend change, but in the meantime, covering one of the two contracts at 8-10 ticks when that profit is available on the one contract, thus always trailing ONE at all times?

H

I am not sure if the question was directed to me. But for myself I am a all in all out trader. Regards Outlander

Reply With Quote
 
  #150 (permalink)
Trading for Fun
Vienna Austria
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: NQ, FGBL, 6E, GC
 
Posts: 117 since Mar 2012
Thanks: 16 given, 65 received



Hapster View Post
Instead of all in/all out on one contract, have you thought of trading TWO contracts and reversing with THREE contracts each time and trailing the entry stop up to reverse at trend change, but in the meantime, covering one of the two contracts at 8-10 ticks when that profit is available on the one contract, thus always trailing ONE at all times?

H

Theoretically that is doable although on live i will not be able to do this because of my account size, its simply too high risk for me. If somebody was willing to step up to the plate and say "Here have 130000 USD and do this, you can have 25% of the profits" then sure ill go ahead and do that

This whole thing is complex because there are several factors and each has a key role which can make or break the system on several specific days of trading. A system here needs to be universally applicable and make sure that instead of getting out with a loss because a day was extremely spiky or price was acting highly erratic it simply reduces your profit for that day by an acceptable margin relative to the average trading day winnings.

And still in my humble opinion the most important thing when devising a system that is based on entries with flexrenkos instead of focusing on exits your primary concern would be to enter during a signalbar with a good proportion rather than it happening afterwards, thus allowing you to do stuff like trailing because otherwise a reverse signalbar is going to effectively cut your profits by 2/3 some of the time.


@Outlander :

Nice results, i see we are getting similar results, with your holding strategy being clearly superior because of the larger gains on the profitable trades. Are you using the 40 tick settings on the 6E future here?

Reply With Quote
The following 2 users say Thank You to Amnesia for this post:

Reply



futures io > > > FlexRenko in day trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

July Journal Challenge w/$1100 in prizes from TopstepTrader

July
 

An Afternoon with FIO member Softsoap

Elite only

Battlestations: Show us your trading desks and win $750 in prizes

August
 

Extended Ask Me Anything w/Brett Steenbarger

Elite only

Prototyping Python Strategies (part 3) w/Ran Aroussi

Elite only

Brannigan Barrett w/Axia Futures

Elite only

Introduction to Phillip Capital futures brokerage services

Aug TBD

How Monte Carlo Analysis Can Help Your Trading w/Kevin Davey

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Day Trading Options ESFXtrader Options on Futures 72 December 21st, 2014 06:28 PM
FlexRenko aslan Sierra Chart 13 June 23rd, 2014 09:45 PM
Why not day trading? rsksmiles Traders Hideout 12 August 13th, 2012 01:07 AM
TF day trading bluemele Trading Journals 1324 July 12th, 2012 05:59 AM
Trading competition- 7% a day? lokgotkent Traders Hideout 5 October 18th, 2010 09:21 PM


All times are GMT -4. The time now is 12:58 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 2017-07-24 in 0.15 seconds with 20 queries on phoenix via your IP 54.198.104.234