Mr.Nims, Renko Ashi Scalping System. - page 281
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Here is my version of Bill Williams with Semaphore and 5 pip blocks.
Not very scientific but practical.
One thing about the Renko charts. it is difficult to fail..!!
Thanks to Nick and Forex TSD for maintaining this thread which contains tons of great charting ideas. Thanks also to the many contributors that have added so many ideas.
daveMAre you telling me that it is difficult to fail on Renko? Watch the picture! If you would buy instead of sell you would fail hard on the nose! Ha, ha, ha...
Cheers Hermes
I think he's saying the opposite :P
I would apreciate if someone could take a little time with me on remote desktop and help me install this on my MT4..ive followed instructions but it seems that my renko is all stuck on January 10th and some other problems..thanks
Screenshot by Lightshot
"The next level of this method would be to open a couple accounts and use a trade copier, I think.... so that a couple hundred conservative pips could be turned into quite a bit more."
Wouldn't it be easier to just raise your lot size (maybe going for relatively less pips too)? I'm aware of the fact that this would also raise your risk per trade, but if you're making that many pips already, your balance will be growing too. Even just keep risking the same % of your account balance per trade (compounding) will grow your account considerably in no time. Besides, opening more accounts requires investing more money too, so I don't see the point in this. I realize that you're probably intending to spread the total risk over several accounts and that's fine IF you have the money to do that, but I guess I'm speaking for most of 'us', when I say that we're not so fortunate (yet).
Cheers and good luck to all!Hi Ronald123,
There is a disadvantage when it comes to trading one account. Broker reduces the leverage, there are limits on the max lot size and orders don't get filled as the account, the lot size and the order size keep getting bigger.
Solution for this is to use multiple accounts, there are many brokers that provide the mt4 multitrader software as well as allow you to create unlimited accounts with them.
So then you can diversify into many smaller accounts and enjoy all the benefits of the smaller account conditions in multiple accounts whilst still making the profits combined like a bigger account.
Best,
Nick
Are you telling me that it is difficult to fail on Renko? Watch the picture! If you would buy instead of sell you would fail hard on the nose! Ha, ha, ha... Cheers Hermes
Ha ha..... Well, I have had some days when my account ended up looking like that pic... hopefully I have learned a bit since then.
I set up a master and four slave accounts so far.. I want to await the market open and a couple trades to ensure I have it right before adding more.
My preference is to work with smaller lot sizes so multiple account works for me, that is why I jumped on this idea.
I get a bit nervous when working with full lots, that's just me. I wish I had decided to do this a long time ago, by adjusting the number of terminals I can cut down on my time watching the screen.
Hopefully I get the hang of this within a week or so and can reap the benefits.
Thanks again, Nick.
daveM
I set up a master and four slave accounts so far.. I want to await the market open and a couple trades to ensure I have it right before adding more.
My preference is to work with smaller lot sizes so multiple account works for me, that is why I jumped on this idea.
I get a bit nervous when working with full lots, that's just me. I wish I had decided to do this a long time ago, by adjusting the number of terminals I can cut down on my time watching the screen.
Hopefully I get the hang of this within a week or so and can reap the benefits.
Thanks again, Nick.
daveMHi DaveM,
The multiterminalPRO from purebeam.biz is anytime a much superior and comfortable to use account copier.
Just setup your master and slave accounts and the settings for your slaves and you can keep it running or keep it running on a vps .
And just trade one account, it copies the trades to all accounts. It can even do unlimited master and slave account copying comfortably with the least amount of cpu and ram usage.
Mt4 multitrader on 20 accounts almost takes up 80% cpu load, whereas multiterminalPRo goes lower than 10% with less than 100 mb of ram.
Sending you a screen.
Best,
Nick
Yessssssssssssssssssss, this thing is useless.......... my machine is fully loaded.... with ten slaves
I will get the other software immediatelty
BUT. this is fun for sure hahaha
Thanks Nick..!
dear nims, tommorow i will start my 5 month mission. Im going to start with 100$ and eventually end up with my final target of 100k within 5 months averaging 40 pips a day, the more the quicker it will be..but this will be my target. I will be using the excell spreadsheet you created, i am 100% sure i will suceed, my life needs a huge change and with nims help here ill do just that. Once i reach the 100k things and life will get easier and easier, i hope everyone has some motivation as this is the only vehicle to success...i also think with renko its very easy to make 40 pips daily, so i have no idea why alot of people here over complicate, salute to nims, and ill repay you back one day buddy.
dear nims, tommorow i will start my 5 month mission. Im going to start with 100$ and eventually end up with my final target of 100k within 5 months averaging 40 pips a day, the more the quicker it will be..but this will be my target. I will be using the excell spreadsheet you created, i am 100% sure i will suceed, my life needs a huge change and with nims help here ill do just that. Once i reach the 100k things and life will get easier and easier, i hope everyone has some motivation as this is the only vehicle to success...i also think with renko its very easy to make 40 pips daily, so i have no idea why alot of people here over complicate, salute to nims, and ill repay you back one day buddy.
Good joke!
You will need more then $100 equity (at least $10.000 if very lucky) to make a $100.000 in half a year. And please tell me the name of the broker which let you make a $100.000 in a half a year. I will sign also. Never put unrealistic goals because if it goes the opposite way you could hang yourself. Put the greed into freezer for a while!
Yesterday I heard an excellent thought: "The bad thing about money is they make you do things you don't like/want to do!" It is a mirror of the present world. Gekko in action? Ha, ha, ha...
Cheers hermes