Mr.Nims, Renko Ashi Scalping System. - page 304

 
mr_nims:
Do you have a trading plan? If your doing anything over 25 pips a day that's more than 500 pips a month.

Maybe the 250 pips you made in a day got you all excited that you'll do that everyday, remember the market is tricky at times, screen time and practice will make you understand better.

The bad trades and weeks teach you more things than just making a series of wins when you start trading on renko.

Best,

Nick

Nick points the right way ! Many new traders will focus on very short term (1 day), but on the contrary you must think in LONG TERM (months or years).

The key in this business is the REGULARITY.

10 ticks a day, a beautifull day

How many times have you got to exit at only 10 ticks ? So many, so many

 
mr_nims:
Hi DaveM,

Now I'm completely convinced with World Vision, they send me everything, his report cards, pictures, letter written by him in English and details about his family.

Now I'm sponsoring four kids, two boys and two girls. My mom's still teasing me calling them my four adopted kids. lol

Regards,

Nick

One day you will want to go to visit the little guys.... You will become very attached to them.

Kudos to you.!

daveM

 

How many people have made money over time using renko ?

I believe that these forex indicators will not work because they can not be properly backtested.

Renko bars on historical data and renko bars on real-time forex data never plot the same.

Looking back at the historical forex data is somewhat of an illusion with these bar types.

 

hello mr nims, i wish if you can help me with some questions please.

when i run the 1 min chart, in what time frame is the candle in the 2 min chart offline?

Can i use the renko system in 5 min chart offline?

thank you

 
forex-king:
How many people have made money over time using renko ?

I believe that these forex indicators will not work because they can not be properly backtested.

Renko bars on historical data and renko bars on real-time forex data never plot the same.

Looking back at the historical forex data is somewhat of an illusion with these bar types.

Hi Forex-king,

It seems like you've not used renko much to make these statements.

Open a 15 minute chart and tell me how many people have made money on that over time, compare that with a 7 pip renko chart and see hehe.

About historical data and back-testing it accurately, it's entirely possible and it's not a mystery, but it's not as easy as opening up the strategy tester and running a back-test. You'll need several tools like tick data and tick feeder to backtest accurately on renko. Whether you want to test out a manual trading strategy or a EA on it.

Google for "births tick data suite" & "AZ-Invest" websites for all the goodies to back-test R-charts.

Best,

Nick

 
solarin1107:
hello mr nims, i wish if you can help me with some questions please.

when i run the 1 min chart, in what time frame is the candle in the 2 min chart offline?

Can i use the renko system in 5 min chart offline?

thank you

Hi Solarin,

Follow what's written to setup the renko from the manual in the first posts. There is no time-frame for renko charts, so we are using the unused time-frame of mt4 like m2, m3, m4, m6 or any mx or mxx or mxxx and we will plot the renko on that charts offline mode. (Note the chart is not offline, it's real-time running from the renkolivechart ea)

Best,

Nick

 
Blaiserboy:
One day you will want to go to visit the little guys.... You will become very attached to them.

Kudos to you.!

daveM

Maybe when I'm in my 50's they'll be in their 20's, I think they'll come visit me instead!

best, Nick

 
Big Joe:
Nick points the right way ! Many new traders will focus on very short term (1 day), but on the contrary you must think in LONG TERM (months or years).

The key in this business is the REGULARITY.

10 ticks a day, a beautifull day

How many times have you got to exit at only 10 ticks ? So many, so many

Hi BigJoe,

The 10 Pip idea may start clicking ideas in peoples mind now.

A friend once told me that, he got his 10 pips he is happy and he doesn't care or feel bad if the market went up 100 pips in his way.

best,

Nick

 

I think 10 pip is short for daily target !

 
mr_nims:
Hi BigJoe,

The 10 Pip idea may start clicking ideas in peoples mind now.

A friend once told me that, he got his 10 pips he is happy and he doesn't care or feel bad if the market went up 100 pips in his way.

best,

Nick

Hello Nick,

Yes because you know with 10 pips your daily target is achieved, and so your ultimate end long term target is also achieved.

If you don't respect the plan, you will loose and by loosing you waste time for achieving your ultimate target, you take risks for nothing, etc.