Mr.Nims, Renko Ashi Scalping System. - page 228
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Mr Nims that was amazing.I wanted to ask how were you able to execute such a number of trade in a day with deadly accuracy.Was it done by an expert advisor or YOU.And if it was you how many hours do you usually dedicate to trading a day and during what sessions.Thanks for your anticipated reply.
Hi EVASPARKLING,
There was none of these.
No Deadly accuracy
No EA or automation
No Money Management
It was just a gamble, i tossed in 95USD that i was willing to lose and wanted to use leverage to just get my initial trades right so I come into 3-digit and finally 4-digit.
My intention was to quickly get into 1.0 lot and I've made it to that, now i just want to do 10,000 or 20,000 pips trading normally till the end of the year goal.
BTW, I don't use the mt4 terminal to trade, I use the mt4 multiterminal to do the trading, so i can quickly click and quickly modify multiple trades, its easy on mt4 multiterminal.
LOL, I'm a full-time trader from home since six years, left my job in 2007 and never thought of doing a job again.
Best Regards,
Nims
Hi EVASPARKLING,
There was none of these.
No Deadly accuracy
No EA or automation
No Money Management
It was just a gamble, i tossed in 95USD that i was willing to lose and wanted to use leverage to just get my initial trades right so I come into 3-digit and finally 4-digit.
My intention was to quickly get into 1.0 lot and I've made it to that, now i just want to do 10,000 or 20,000 pips trading normally till the end of the year goal.
BTW, I don't use the mt4 terminal to trade, I use the mt4 multiterminal to do the trading, so i can quickly click and quickly modify multiple trades, its easy on mt4 multiterminal.
LOL, I'm a full-time trader from home since six years, left my job in 2007 and never thought of doing a job again.
Best Regards,
Nims.I assume trading one standard lot size with just a $1000 is kind of risky as You only need the price to go against you five time assuming you are using a fixed stoploss of 20 pips unless you have discovered a near holy grail.... I presume
.I assume trading one standard lot size with just a $1000 is kind of risky as You only need the price to go against you five time assuming you are using a fixed stoploss of 20 pips unless you have discovered a near holy grail.... I presume
By the way its $1500 now. Yeah its about 150pips worth of margin for 1.0 lots, so i have to ensure the initial 100 or 200 pips are carefully traded, then i can go full-swing.
Guys, there's no holy grail or near holy grail. It's just probabilities and buy or sell decision and the risk your willing to put on that probability. My system is just a way of reading the markets better, (better for most and may not be better for others), but whoever wants to read the market in another way, Renko charts, can do so.
The system doesn't dictate what the market will do next, the market will dictate what it will do next, system will just help you read the market better so you can decide how good the probability is and depending on that input your risk (SL) and reward(lot size).
Best Regards,
Nims
Do you mind sharing the money management spreadsheet.My problem is more about exiting my trades than entry as I always hope to catch the big move by moving my stops to breakeven but the problem is my breakeven stop is hit more often ,so I was wondering if you only close your trade when it reaches your target or wait for a valid reversal signal and then exit
some people use a macd on their chart to check for divergence for entries or exits.. similarly CCI or stochastic....
I suggest you experiment with these indicators a bit to detect divergences.
Screen time, and practice will assist in learning best methods of adjusting stops.
Sometimes we have to experiment a lot to get a chart that 'talks' to us, and what speaks to one person will be of a different meaning to another person.
Do you mind sharing the money management spreadsheet.My problem is more about exiting my trades than entry as I always hope to catch the big move by moving my stops to breakeven but the problem is my breakeven stop is hit more often ,so I was wondering if you only close your trade when it reaches your target or wait for a valid reversal signal and then exit
See post # 3 of this thread
Well I have a few questions regarding the ranko chart, as I am not certain I am doing it correctly.
(1) I open the chart, put it on M1. I add the period converter script to it to make a M2 chart?
(2) I scroll back get the data, add the Renko 3.4 live chart to it, it gives me a
(3) I open the offline and add the template
(See attached picture)
Right now on EuroUSD the RenkAm gives me a message that a new renkobar is given at exactly 2 minutes, every time. Also the Wick is stuck on 0,0,0 and updates a 2nd bar instead of a new one.
After a while (30 minutes) the MA 5 lines close up with the MA in colour until I reset and the whole thing springs back out.
Anyone have any idea what the problem is here?
Well I have a few questions regarding the ranko chart, as I am not certain I am doing it correctly.
(1) I open the chart, put it on M1. I add the period converter script to it to make a M2 chart?
(2) I scroll back get the data, add the Renko 3.4 live chart to it, it gives me a
(3) I open the offline and add the template
(See attached picture)
Right now on EuroUSD the RenkAm gives me a message that a new renkobar is given at exactly 2 minutes, every time. Also the Wick is stuck on 0,0,0 and updates a 2nd bar instead of a new one.
After a while (30 minutes) the MA 5 lines close up with the MA in colour until I reset and the whole thing springs back out.
Anyone have any idea what the problem is here?
Hi Brainios,
You almost got it right. The problem is that Renko charts do not use the period converter. So try this
1. Open a 1 minute chart for example like EURUSD and manually Scroll back the 1minute
EURUSD chart as much as you can (You can simply keep pressing the HOME button on your
keyboard), I recommend at least 1 or 2 months worth of 1minute chart data on your screen.
2. Apply the RenkoLiveChart_v3.2 EA to the 1minute EURUSD chart.
3. Then open the offline chart and add the template. This is where the M2 chart comes in. When you open the offline chart it should be a M2 chart as when you apply the RenkoLiveChart_v3.2 EA to the 1minute EURUSD it becomes an M2 chart.
This should solve all of your problems.Renko charts change when they move a certain amount of pips, not after a certain amount of time.
hope that this helps,
ddam3
Hi Brainios,
You almost got it right. The problem is that Renko charts do not use the period converter. So try this
1. Open a 1 minute chart for example like EURUSD and manually Scroll back the 1minute
EURUSD chart as much as you can (You can simply keep pressing the HOME button on your
keyboard), I recommend at least 1 or 2 months worth of 1minute chart data on your screen.
2. Apply the RenkoLiveChart_v3.2 EA to the 1minute EURUSD chart.
3. Then open the offline chart and add the template. This is where the M2 chart comes in. When you open the offline chart it should be a M2 chart as when you apply the RenkoLiveChart_v3.2 EA to the 1minute EURUSD it becomes an M2 chart.
This should solve all of your problems.Renko charts change when they move a certain amount of pips, not after a certain amount of time.
hope that this helps,
ddam3Hi Ddam3,
I just did what you told me and it did create a M2 chart now, however I seem to be unable to update the bars beyond yesterday at 18:47 GMT. (See picture)
No matter how much I scroll back and forth it sticks to 18:47 GMT and just boggles my mind.
But thanks so far for the help, it is greatly appreciated!
Brainios
Hi Brainios,
This is the issue with renko charting, its totally dependent on the amount of data your broker can provide for the 1minute chart.
But anyways, regarding you issue. Try changing to another brokers demo or live feed as most broker may not provide enough 1min data for enough history for renko.
Some brokers that are providing a lot of data are.
forex4you, fxpro, exness (now they do!), roboforex, pepperstone etc
Best Regards,
Nims