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FlexRenko in day trading


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FlexRenko in day trading

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  #151 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
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Quoting 
@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?

30-29-28 regards Outlander

As this is a test I think it is better to use a large target. So you can look at the numbers and decide later how much that you think you can go for in real trading

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  #152 (permalink)
Všnersborg Sweden
 
Experience: Beginner
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GC after US open. 50-49-48 Regards Outlander


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  #153 (permalink)
virginia
 
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superman trajectory

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  #154 (permalink)
San Diego, California
 
Experience: Intermediate
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Trading: CL, GC
 
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CL with some even better action... a week of green days with this method in CL, GC, Yen... trading both directions, reversing, and covering partials with runners on board each way... almost ready 2 go live..... this shouldn't be traded ALL day, though, in my opinion..... have been logging best times for each market, as each one is different.

H

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  #155 (permalink)
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Hapster View Post
CL with some even better action... a week of green days with this method in CL, GC, Yen... trading both directions, reversing, and covering partials with runners on board each way... almost ready 2 go live..... this shouldn't be traded ALL day, though, in my opinion..... have been logging best times for each market, as each one is different.

H

Hapster, what are your entry rules? Its it bit hard to see with all the lines. Thanks

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  #156 (permalink)
San Diego, California
 
Experience: Intermediate
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Trading: CL, GC
 
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tellytub View Post
Hapster, what are your entry rules? Its it bit hard to see with all the lines. Thanks

I have on either two or three.. if three, then I cover two at +8 if available. If two, then I cover one at +8 if available. So to open the trade, I place a buy stop at the opposite end of the current direction. The "renko" bars are 8 ticks wide (9 for GC) so the length top to bottom is 16 ticks (my initial stop when entering either direction). As stated above, one or two is covered for +8 and a reversal order is placed at the opposite end to catch a trend change. So as soon as the first order is filled for however many are on, then the "reversal" order is placed at the same spot for the same amount of contracts to catch a trend reversal.

I.E., if two are on, then as soon as the initial trade is filled, then an opposite stop entry order is placed for four contracts at the opposite end. If the scale-out order is filled, then that becomes three contracts and the reversal entry price is trailed at +/- 16 ticks on the opposite end. I have other indicators that help me determine if a good trend is established so it's discretionary that way -- i.e., I'll hold off placing a trend-change order and ride the trend, depending, but for the most part, it's been profitable for the last week just "riding all the waves."

Hope this explains the entry criteria

H

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  #157 (permalink)
Vienna Austria
 
 
Posts: 116 since Mar 2012
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Well.. looks good to me, testing complete on my behalf, its decent results, filtered out the bad trading stuff as much as i could. 6E is still very dodgy in some aspects and is not as ideally suited as the Russel Future and NQ futures when it comes to providing multiple entry scalp opportunities within a span of 1 Hour.

I will recap some of those trades on the 6E today and make some minor adjustments, but i will be bringing this system live in a mechanical sense tommorow, if it pans out, automation is next.

Anyone getting good results for scalping on 6E applying this strategy?

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  #158 (permalink)
Vienna Austria
 
 
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Forgot to mention this:




Not bad for 20 Minutes of work, there are certain settings that work ridiculously well for GC scalping but the risk is so high and you are basically forced to use buy-stop and sell-stop entries and work with them fast, also right now the spread was ridiculously stupid but entertaining nonetheless.

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  #159 (permalink)
Tulsa, OK
 
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Amnesia View Post
Well.. looks good to me, testing complete on my behalf, its decent results, filtered out the bad trading stuff as much as i could. 6E is still very dodgy in some aspects and is not as ideally suited as the Russel Future and NQ futures when it comes to providing multiple entry scalp opportunities within a span of 1 Hour.

I will recap some of those trades on the 6E today and make some minor adjustments, but i will be bringing this system live in a mechanical sense tommorow, if it pans out, automation is next.

Anyone getting good results for scalping on 6E applying this strategy?

Excellent input @Amnesia, thanks for sharing. Looking forward to your updated findings.

Though I'm sure we are using different techniques & settings, I've also found similar raw results: GC looks like a prime market and 6E can be a challenge.

I'm using 30-29-28 settings for 6E and here is a quick test run for today:



Since I'm still early into testing, trade management settings are quite loose. The trades highlighted in yellow are trades that would not have been allowed to double-back on themselves if traded live. The last trade probably wouldn't have been taken because of time of day.

Also, thank you @Outlander for letting us piggyback some idea sharing onto your thread If it's too distracting, just let us know and we can start a separate thread.

Luck is what happens when preparation meets opportunity. ~ Seneca
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  #160 (permalink)
San Diego, California
 
Experience: Intermediate
Platform: NinjaTrader, Felton
Trading: CL, GC
 
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Posts: 141 since Aug 2009
Thanks: 40 given, 81 received


Yeah, let's just say GC is higher risk with this method. That said, I've had 7 out of the last 7 trading days profitable trading TWO contracts, covering the 1 at 8 ticks profit and reversing... and NOT trading all day; but just trading an hour or so. Today and Friday were incredibly risky trading this method, but profitable nonetheless...using other indicators for trend determination increases the profit potential by NOT reversing at certain locations but instead trailing the profit on the remaining contract(s).

Hap

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