Mr.Nims, Renko Ashi Scalping System. - page 240
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here are some charts
and the rest...
Did anyone get any pips on the USD-JPY?
I am genuinely interested in the system but was unable to watch real time as it was 4 am here.
Seems to me the actual move was too fast as per the indicator.
But was it set up for anyone early enough?
Looks like a 100 pips target was ideal, comments, thanks, Johnyou might look at a few different chart setups until you see what you will comfortable with. I have played around with several setups and now I am quite comfortable having these charts
On my charts I get a signal from Awesome Oscillator as well as Hama, I try to guage if the entry is valid..... Awesome gives an idea as to which wave is in effect. sometimes helpful.
You will have to experiment a bit and try a few things and find what 'talks' to you and then there is a ton of pips to capture as you can see on my charts.
You will probably have to have at least 6 charts to make a good amount they do not all have good moves each day.
Thanks for the charts and some new ideas about indicators; I was going to ask about how to refresh the reading on an offline chart because sometimes the MACD doesn't look like it keeps up with most recent data coming in.
Only thing I can do is open the MACD settings, and close, then it seems to read fresh data; guess reapply the template would do the same.
Can you share a list of the indicators you use like this shot of the original Post 1 method.
Yes, I will have more than 6 pairs, no problem, if I can decipher what is a signal, then I will trade.
Another thing, that is hard with Renko charts, people still say do X pips per day - but "day" is time, and there is no time on Renko chart so it is hard to say if trade was London session or whenever, so I think they should say, take x pips per trade - know what I mean?
Regards, John
you might look at a few different chart setups until you see what you will comfortable with. I have played around with several setups and now I am quite comfortable having these charts
On my charts I get a signal from Awesome Oscillator as well as Hama, I try to guage if the entry is valid..... Awesome gives an idea as to which wave is in effect. sometimes helpful.
You will have to experiment a bit and try a few things and find what 'talks' to you and then there is a ton of pips to capture as you can see on my charts.
You will probably have to have at least 6 charts to make a good amount they do not all have good moves each day.Two months?
Your first post was 5 YEARS ago - how about posting a screenshot of the last 5 withdrawals from your broker?
That will make me a believer, I will sign up so fast on your website you won't believe it!
So can you do it?
Hi Snowman,
Here's 25 withdrawals just for the last two months on one of my dozens over dozens of accounts... but what does this prove?
To Blaiserboy, We are currently on $2.5 boxes on Gold.
This is amazing, GBP-USD is supposed to be hard to trade they say.
Since the last little dip down at 1.54300, indicators show up
And any buy at the round number would NOT be taken out with a 50 pips stop loss
Easy to check on this chart, hope the price is right?
Theoretically, should have an open position from 1.55 with 600 pips open profit
As well as 1.56 = +500, 1.57 = +400, 1.58 = +300. 1.59 = + 200, 1.60 = +100, 1.61 = 20 pips
Total of 2100+ pips = awesome
Back later
check post 2364 for indicators I use........ and see if you can adapt them to something you can work with.
The toughest part of this type of trading is suitable box size and some indicators that you feel comfortable with and that will come from screen time.
I have no idea about Macd, I have not noticed that myself, probably you are not going to need Macd to any great extent once you get used to the price action
I doubt that very much, the WEEKLY range for USD-JPY last 5 weeks is 223, 202, 195, 159 and only 93 thus far this week.
Show me on trade taken on a renko basis for 200 in 1 day ?
I will be ready to be surprised
Oh, yeahHi Snowman,
I could have shown you dozens of over 200 in a day and even ones with 1000 in a single day from my past history from my accounts, but that would be the past, You have to see it in present.
So here's 200 pip (not closed yet as I'm waiting for 150 more pips) in a day, not past, but presently (Right now) on JPY pairs.
Just opened a new account and deposited yesterday to start testing with the 10-cycle, 400 pips per two weeks, Money Management Plan in Exness.
Best Regards,
Nims
Hi Folks,
How do you like this one?
You just need to do 400 pips every two weeks. (doesn't matter if it takes four instead)
But in 2 months or max 4 months, You'll be milking Oil money ahem Forex money like the king Abdullah of Arabia.
Wanna Try, here is the plan. If USD majors are slow for you (Eur/Usd, Aud/Usd, Gbp/Usd, Nzd/Usd and so)
Try sticking maily with JPY Majors, Aud Crosses and Gold to speed up.
Just you need an average of 40 pips a day or 200 pips a week, so every two weeks 400 pips up, I think DaveM (Blaiserboy could do this easily if he's determined hehe)
On my Commercial Version Easy Renko Forums, Even Duane is helping out with his Gold analysis, so we could see what he has to say there to help determine bias. (As we do not have indexes for gold)
Attaching MM.
renko_400pips_per_two_weeks_mr_nims.xlsx
My Best,
Nims
PS: I have higher hopes on Renko believer's than myself, because if I can just find a few inspirational guys who can do this MM or so, because I'm a highly aggressive and impulsive trader, that's my only worry. A disciplined member could turtle his way faster than a Rabbit!Hi Folks,
If you see the Money Management is like a 1:1 risk/reward.
For example you start with $200, You trade 0.05 per $200 (5 microlots) @ 0.50 UScents a pips.
So that means $200 divide by 0.50 cents a pips = 400 pips worth of margin.
Your target is 400 pips per cycle in two weeks or no-time limit.
Say your average stoploss is 50 pips, so that would mean 400 pips divide by 50 pips = 8 losing trades in series to actually burst your balance and 8 trades of 50 pipish to complete a cycle.
I know this would be too aggressive for a newbie trader, but after all it's just $200 deposit that if lost I think wouldn't affect the financial well-being of a person too much, for a chance that he can make a much better financial future if he made it.
Anyways, I think we should target it as 400 pips in 8 tries of 50pip stoploss to complete a cycle, 2 weeks is the ideal time-frame but you can go with no time-limit to complete a cycle.
Just make the initial 100 pips or two 50 pips wins carefully, then if you can spot a high probability renko setup, you could risk two or three trades with 50pips stoploss and make the two or three wins in a row! Or something like this to speed up the Money Management.
Any Idea's Blaiserboy & Other kind members for the Money Management, please feel free to share!
My Best,
Nims
Sure, OK, looks great, I really am trying to follow here, sorry if I came on a bit strong but some claims seemed a bit outrageous; I was thinking 200 pips a day per pair, not collectively.
However, you must admit, with the FED statement, current trading conditions are a bit one sided, great if you got in at right price and they don't retrace to much too quickly, or you take profit & close quicker.
I will follow along next week, compare Renko with my normal trend following charts and see what I can improve my results, thanks for the statements, now & earlier.
Regards, John
Hi Snowman,
I could have shown you dozens of over 200 in a day and even ones with 1000 in a single day from my past history from my accounts, but that would be the past, You have to see it in present.
So here's 200 pip (not closed yet as I'm waiting for 150 more pips) in a day, not past, but presently (Right now) on JPY pairs.
Just opened a new account and deposited yesterday to start testing with the 10-cycle, 400 pips per two weeks, Money Management Plan in Exness.
Best Regards,
Nims