Mr.Nims, Renko Ashi Scalping System. - page 346
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I guess it is easier for you to 'dance around' instead of posting a chart and that would indicate how serious you are about learning to trade.
Well, well its Amen for me.
so after 1 week testing, no profit but also no loss, i will code an auto sl and auto tp, that would increase the profit i think
Can I suggest that you think on a break even and a couple ma's and oscillators to offer a choice of exits.
You will find that with a fixed take profit that you will miss many trades.
yes thats the reason why i coded a trailing now to take the big trades also 100 pips and more
Mr.Nims, I am studying Renko systems. Intrigued by the suggestion above on scalping 1 minute set ups based on HA smoothed. Could you please elaborate preferably with help of screen captures? Thanks Jozy
Hi Jozy,
I used to use this before I met renko. It was a cross between 240 periods (4hour) and 60 periods (1 hour).
I used to even use 240 periods (4 hour) and cross between 15 periods (15 min)
It still works to make 10+ pips everyday with nothing but two heiken ashi smoothed indicators.
A multi-millionaire trader friend is still stuck on my this strategy till today lolz.
It's not science or art, it's just some common sense to get pips out of the market.
Regs,
Nick
yes thats the reason why i coded a trailing now to take the big trades also 100 pips and more
That's a good choice if your looking for fully automated trading, otherwise the only way I've been able to be profitable with a EA on renko is by semi automatic, letting the EA precisely open the trade for me and I'll manually close the trade. That way I wouldn't need to be seated on the screen waiting for entry, just managing open trades and closing them.
I don't use any EA or automation though on my live trading, I'm happy to work hard 10 hours a day for my bread n butter. UK day and US morning.
Otherwise I'll have nothing to do being on full-time with an EA doing all my trading, I'll die of boredom. LOLZ
Regs
Hi Jozy,
I used to use this before I met renko. It was a cross between 240 periods (4hour) and 60 periods (1 hour).
I used to even use 240 periods (4 hour) and cross between 15 periods (15 min)
It still works to make 10+ pips everyday with nothing but two heiken ashi smoothed indicators.
A multi-millionaire trader friend is still stuck on my this strategy till today lolz.
It's not science or art, it's just some common sense to get pips out of the market.
Regs,
NickHi Nick, thank you for clarification. Much appreciated.
Jozy
Hi Phil4910
Have you had much success on trading the dax ? Can you please share your experience using this system on the DAX ?
Thanks for your quick reaction mr Nims,
My broker is IG Markets (five digits broker) and the spread on Dax is 1 pip so I put "25" in the RenkoBoxSize of the EA which means 2.5pips between the open and the close of the candle/box, if I understood well.
It's very fast when we know that this index take very often 10 pips in 1 minute or less (1 pip = +-5$ with 1 mini contract)!
I will try it on demo.
Regards,
Phil4910.I have a gross of over 220 pips since the market opened yesterday afternoon, none of them are closed yet.
I still think the system works, I will have to study more........
Nick posted a spreadsheet for money management in here , I figure, after playing with that sheet, that I need 140 pips a day, to do what I want with my Renko.
I know that Nick has some very great days, so I have decided to attack this goal for a while.
My advice is to work with your charts untril you get something that is easy for you to understand, you do not have to use the ideas of another, be creative, test your charts and make something that works for you.
Most of all, have fun doing your trading and research, you will see from his posts in both this and the commercial thread that Nick greatly enjoys trading and has a lot of fun with it each week.
I expect some volatility this week as Retail Earnings to be announced and the US Markets are showing volatility. This should be a good week.
Because I have quite a few charts open and it is difficult to keep track of decision making, I am using a check list of conditions that must be matched for entries.
We need some structure so that our trading is rule based instead of emotional.
I urge people to make such a list and live by the rules.