Have you tried Renko charts? They rely on price movement and NOT time. The trend changes are obvious and you can adjust the box size to eliminate many of the false reversals that cause whipsaws.
Since Renko is all about price trends they are as fast as the market so you can easily trade for 3 or 4 hours where to get stable trends you really need higher time frames and longer duration trades.
I have a lot of other info if you are interested. You can Google Renko trading strategies or search YouTube and there is plenty of stuff. My profile page has my Renko trading. I don't have anything to sell but I do like discussing trading ideas with other traders.
Have you tried Renko charts? They rely on price movement and NOT time. The trend changes are obvious and you can adjust the box size to eliminate many of the false reversals that cause whipsaws.
Since Renko is all about price trends they are as fast as the market so you can easily trade for 3 or 4 hours where to get stable trends you really need higher time frames and longer duration trades.
I have a lot of other info if you are interested. You can Google Renko trading strategies or search YouTube and there is plenty of stuff. My profile page has my Renko trading. I don't have anything to sell but I do like discussing trading ideas with other traders.
Hey Michael, this is great info. Let me look into Renko charts, I have hear about them but never in depth. Thx again!
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Hello everyone,
I've been trading for close to 2 years already and have a some knowledge in development. I have been flipping between automated and manual trading and love to code EAs.... HOWEVER... every single one I have coded so far always gets me when a trend changes and most times I have to wait for a long time with opened positions until the trend catches again.
I usually code EAs following Stochastic other ones I've done follow MA50 and MA100. I don't like to have positions open longer than 1-3 hours.
-All have a check to allow trading if exposure is above 1%
-No limits on number of positions open
-if Exposure starts falling below 1% mark, I flag the losing orders and check which ones are the worst performers and start hedging to recoop Profit
Long story short, all these EAs always get me on the change of trend.
Any sugestions out there on how to manage this issue?.. lowering number or positions open?... use of other indicators? hedging? take loss?
And also managing dradown?