My New Day Trading System-rate and test - page 22
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
W2000 on Renko chart
Hey guys and girls,
Sorry I've been away again
. My Mom's chihuahua broke it's leg and I've been driving her back and forth to the vet. Good times.
Anyway, I've been toying with the idea of running the W2000 system on a 10 box Renko chart. I know someone mentioned this early on in the thread. I tried it a few days ago and it does look good. Think about it: This system relies on momentum to carry us through. It makes sense then to filter out all of the "time-static" and just look at the price action. Renko allows us to do that. I'm so pleased with it so far that I can now recommend a solid stop loss and take profit for this system:
SL: 30 pips
TP: 50 pips
set a trailing stop at 50 when it hits 60 and then let it ride. You'll get quite a few 80-100 pip runs this way. YES there will be bad trades, that's part of the game.
For those of you who are the 'set it and forget' type I would definitly recommend switching over to the Renko chart and doing it this way.
There are a couple of things to keep in mind:
Renko charts dont take into account when the market is moving incredibly fast. Sometimes no matter how fast you are u wont be able to enter on the first candle. This should be rare though.
Also, it is conceivable that you could enter a trade and still be in it 8 hours or more later. Renko charts are not time based. If the chart languishes between a 10 pip range for 3 hours it will be within that same candle the whole time.
Just be patient and stay focused on the pips you are making. At least with the new SL and TP parameters you really can enter a trade and then close your trading station.
I'm sorry that I can't post any pictures right now, for some reason Meta Trader is really being a ***** on my computer. It keeps locking up and im out of the game until I can figure out what's wrong with it. I've tried uninstalling and repairing, which makes me think it's something with the Renko script but IDK, i've used it before with no issue. if anyone knows any fixes for this I would REALLY appreciate it.
Brookey what do you think about the Renko idea and the SL and TP? Thanks for keeping the thread going, btw. You too, Mike and others.
hehe, not his mum
but the doggie
buy a inline skating shoe for the dog , so it could learn to skate while less stress on the leg during healing
on cable, there is a dog do all sort of surf stuff -- you may youtube it and let it win you some money if it can earn the fameLOL, yeah, not a bad idea. He runs around in his cast all the time. He's crazy.
Hi Cy,
Good to see you are in the land of the living. Will comment more shortly.
Cheers.
New WPR Sentiment Indicator
Hi all,
Cy I am sure you will like this new indi as it incorporates bwmfi volume and wpr.
I have been using this indi for around a month now and it works really well as a confirmation of the WPR2000 cross.
I have attached an example of how it helps using just our Boll Pocket indi and a long WPR Cross signal.
I am sure it can be useful as a confirm with most trading systems.
I have seen where some attempts at something similar have been done to wpr but this mix of bwmfi and the square root of raw volume seems to tame the sentiment line just nicely and quite accurately. It seems to show general bull/bear sentiment rather well.
This should help when we get the bump n bounce that the wpr2000 seems so good at producing and may stop us from getting in too early and getting stopped out just as the bugger takes off.
Will comment re your renko soon.
Cheers.
my 5M on EUR/USD look like this -- same period
but I know the subwindow indicator may repaint about 30 to 40 minute backward from time to time
--
by the way, your indicator that PAINT some of the SPECIAL SELECT candle looks awesome
does it paint the 30M TF chart, that way too, can we see a few Screen Capture Sample on 30M -- do you use that for trading and got high success rate (that repaint some candle indicator)
=====
another forex expert said that , a couple of years ago -- maybe good for 5M traders
the markets have been difficult lately, and I believe it will remain this way until the 1st quater of 2010, using the 5 min is a great idea, trying to pin point reversals on the 15 min, or 30 min is difficult, but if you use a 30 min snake force on the 5 min and only take 5 min snake force trades in that direction are realtively high probable trades, try adding the 30 min waddah, to the 5 min, so you will know the true strength of a 5 min pull back in a 30 min trend,
Hi all,
Cy I am sure you will like this new indi as it incorporates bwmfi volume and wpr.
Cheers.Looks VERY good, if it does not repaint, the red line, it is then as good of an indicator as one can possibly be...
thanks, will be testing it this week on a real account.
Hi all,
Cy I am sure you will like this new indi as it incorporates bwmfi volume and wpr.
I have been using this indi for around a month now and it works really well as a confirmation of the WPR2000 cross.
I have attached an example of how it helps using just our Boll Pocket indi and a long WPR Cross signal.
I am sure it can be useful as a confirm with most trading systems.
I have seen where some attempts at something similar have been done to wpr but this mix of bwmfi and the square root of raw volume seems to tame the sentiment line just nicely and quite accurately. It seems to show general bull/bear sentiment rather well.
This should help when we get the bump n bounce that the wpr2000 seems so good at producing and may stop us from getting in too early and getting stopped out just as the bugger takes off.
Will comment re your renko soon.
Cheers.Thanks Brookey. I'll start testing as soon as I get Meta Trader sorted out. I got it to reinstall and it seems to be working ok now, except that sometimes the chart stops working randomly. As soon as it's working I''ll post screen shots of what I mean.
Does anyone know what's wrong with this Renko script? It stops working after a few seconds
.
Does anyone know what's wrong with this Renko script? It stops working after a few seconds
This one's definitely working fine. If not working, try some program cleaner and then registry cleaner soft like ccleaner... Bit normally MT4 is portable, I just copy a folder to new folder through a flash... just try copying a folder to a new location, it worked fine for me. C:Program Files is a problemsome location in Windows 7
This one's definitely working fine. If not working, try some program cleaner and then registry cleaner soft like ccleaner... Bit normally MT4 is portable, I just copy a folder to new folder through a flash... just try copying a folder to a new location, it worked fine for me. C:Program Files is a problemsome location in Windows 7
Thanks SV,
I was running it as a script instead of of an EA. I think it's ok now