Mr.Nims, Renko Ashi Scalping System. - page 290
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Hi Air92,
I can tell you a good tactic on m1 chart, which i used to use a long time ago and it still works now.
Apply ha smoothed on 240 period settings
Apply ha smoothed on 60 period settings
When both are blue scalp buy trade and when both are red scalp sell trade.
Simple 1 minute ha systemthank you my dear Nick!
I will try this
I consistently for a long time doing 20-30 points every day,and frankly,that's enough for me
goooooooooooood.
goood strategy
marley60-- the MACD_Complete_Arrow indicator also requires "MACD_Complete" indicator in the same folder [there is an internal iCustom function call]
I could not find it using the forum search function. Can someone who has it be so kind and upload it here, please?
What is the trading performance of this system today? Any links on myfxbooks of traders applying these techniques?
The trading performance of this system is limited only by the trader himself, what you can do is look back through the thread to gather an idea as to the successes of different traders and also the screen layouts that they have used and then construct one for yourself and try it.
To give you an idea. I am up 242 pips since 14 hours ago, Nick is probably up about 500 pips in that time frame because he works harder...., in fact he may be up a lot more than that.
As I said, success is up to the individual...
(oops I missed one, I am up 370 pips and that happened while I was asleep)
MyFxBook is for people who want to sell their service or do an analysis of their EA, my needs are to put money in my bank account, my purpose for trading. People go to MyFxBook and oooh and ahhh and whatever else they do there and waste their time looking to see what someone else is doing. And they get PROOF that someone else is doing well or doing not so well... And they post messages and I don't know what else they do there.
The real proof is how many pips they can generate in their own account, proof of their own ability or inability or need for more screen practice time.
On a discretionary system there is no way to prove the merits of a system, it is up to the trader himself to learn what will make a chart that will talk loudly to him to see good entries and exits.
For myself, I have a daily target to reach, most days I get there, some days I blow it out of the water and some days. I am really dumb hahahahaha
Try a couple layouts and see for yourself, once you get into Renko trading you will see it to be pretty easy.
Have fun.!!
Nick......
NOW I understand why so many screens needed....
Small groups of related pairs......
It took me only two months hahahahaha
My paltry two screen setup will not accommodate all those charts, I will have to see about a video card for 6 screens.
Wow, enlightenment comes slowly. lol
can u share us the idea behind this related pairs can u explain
Nick......
NOW I understand why so many screens needed....
Small groups of related pairs......
It took me only two months hahahahaha
My paltry two screen setup will not accommodate all those charts, I will have to see about a video card for 6 screens.
Wow, enlightenment comes slowly. lolcan u share us the idea behind this related pairs can u explain
for example when u get a trend in euro the n wht would u do ......can u plz explain whtu understand
he figured out a few sets of pairs that move together and grouped them on separate screens so he can choose which ones to enter a trade on...
He can just go from screen to screen to make his decisions, much easier than looking at a bunch of small charts on one screen......
There is no secret..... he just groups the pairs that go together.... ie gold and silver...
or the Dow and the S&P
experiment a bit and you can have what he has developed.....
Try it.!!
There are many instruments that move together.
I am sure that he sees a group moving together and checks the volatility and enters an order until the move stops, gets out and enters on another group.
Volatility can be determined by volume and also the slope of the price bars..... there are other volatility indicators, I like to use Raghee Horner 34 wave or alligator to verify slope, I stay away from ranging markets. 'There is no hope if there is no slope'. I do not try to catch tops or bottoms, I enter on a retrace because I feel there is a better win percentage doing so. (Alligator and fractals)
We have to each develop our own methods of attacking the beast. If you can figure out which group is moving from hour to hour you can make a ton of pips.. eg put three or four JPY pairs together as a group, or a couple CHF pairs. In past posts Nick has told us the groups he uses, just read his posts.... read them a few times, he has laid it out.
I have a laptop with two screens in addition to my main machine... so I will make many small charts on main machine as it has large monitors and add some groups on laptop. Eventually I will get another machine and figure out how to get a bunch of monitors arranged on the wall hahahaha small room.
I saw a video card that will service 6 monitors, I may check to see if it will work on my machne.
Nick has many monitors to watch... he is very specialized...... sorta like a professional trader.
I just figured out this morning why all the monitors hahaha I never caught on when he mentioned he was getting that setup. You can look back in the thread and see what he bought or built.
My dream is to one day kick his ass making pips hahahahaha We should all be trying to beat his production every day, he has shared everything in this thread that we need to beat him, we just have to determine that we are going to clean his clock. lol
Personally, I owe Nick a super amount of gratitude... and also Forex TSD for keeping this thread. and, importantly, the members of the thread for all the ideas they have pumped in here over a few years.
LordFX really inspired me when he mentioned 1500 pips a week, that was a long time ago and I never really caught on until the last few months...
You can start with one pair, master it and hammer it and then add its brothers.... no need to have 25 pairs on your monitor, you can make as much with one pair as many. Then locate one that moves at another time of day so you can be trading at different times. And gradually add as skills improve. Perfect the entry on one pair and then the world can be yours. STAY AWAY FROM PICKING REVERSALS
Have fun, another day of trading about to start!!
Very very interesting Blaiserboy.
If I understand correctly, you use high correlation pairs groups, and when a good oportunity based on a good volatility appear, choose one wich you think is the best, I'm right?
By now I'll practice with 2-3 pairs, but is a very interesting method for future hehe.
About how you detect low volatility or slope markets, you say you use "Raghee Horner 34 wave" or Alligator, can you please talk us about your method?
Im also having some problems to detect when to exit a trade, can you share with us your method to exit from a winner order? Im using my own indicator based on momentum to exit, but Im trying to improve it
The first example I have find, here I show how I enter and exit a trade. When my indicator changes trend, or sometimes when macd main line crosses signal with 10-20-5 parameters I close the order.
More ideas? ^^