Mr.Nims, Renko Ashi Scalping System. - page 332
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I don�t want to raise doubts about renko (I really like it), but I want to point out that sometimes its not as easy as it looks like. But if this stuff about an 80% chance of being right on the direction of the next brick ist true, we all should be able to profit from it.
Hi:
Reviewing the thread foud that affirmation, i did some test to validate this issue
Here my results, this results was done with Renko without wicks
Pair Size Box Probability
EURUSD 10 0.7232
EURUSD 15 0.7327
EURUSD 20 0.7320
USDJPY 10 0.7787
USDJPY 15 0.7809
USDJPY 20 0.7789
USDCHF 10 0.7032
USDCHF 15 0.7584
USDCHF 20 0.7750
USDCHF 25 0.7757
GBPUSD 10 0.66
GBPUSD 15 0.6835
GBPUSD 20 0.6849
See ya
Diwali time Returns!
Hi Folks,
Hope you've filled that Gunny Bag with Gold/Silver/Diamond Jewelry, Sweets, Money, Clay oil lamps and the best of all the Firecrackers.
Because it's "The Festival of Lights" its Diwali! Yay!
--
To Your Success!
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Nick D'Trader (A Renko Trader of Forex, Commodities & Indices)
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Easy Renko System - Easy Renko
Next Trend Traders LLC
Hi Mr Nims.
Thanks for your Renko Ashi system, yesterday with help of news, first try manage to get 100pips
Thanks again Nick
Thanks again Nick
Hi Kaamos,
That's 422.9 pips scored on 1 lot, great job with semi-automatic.
Hi Folks,
A lot of new folks joined last month and didn't request a remote.
Great! If you were able to install on your own!
But, if not or else, I recommend installing everything for you, so that I can be sure everything is properly installed.
And you can stop wasting time installing and head to trading.
Remember that DKK, Gold and JPY strategies are your bread n butter pips, you'll most likely than not always make pips on them each week once your good.
Please don't hesitate, I've done remote assistance like almost a 100 times, so I can quickly do it for you. No issues.
I'm available everyday from 8am GMT to 10PM GMT, since I trade UK day and US mornings.
Today I'm drinking again, I know I have to quit, I didn't drink all week, but I told my mom last day and from next week my drinking is "THE END"
I want to a sober life too, I've been procrastinating too much, I'll leave today , I'll leave tomorrow, Resolution new year I quit.
But, It has been a real good feeling being sober for a week, I'm slowly beginning to understand myself as well as understanding why people don't drink.
And how life feels like being sober, it's a beautiful life !
Lastly, I'm following a Professor nowadays who's explaining (Not Preaching), but explaining the Bible to me. I want to just know what it says, not what a man's mind says.
Here's a link of what I'm following, Walter Welsh a Science professor who's now a Bible Professor.
201 - Just Another Man? / Total Onslaught - Walter Veith - YouTube
Do watch it if your getting time & Non Christians, you could skip that link if you like. I respect all religions and the their beliefs and sentiments as they respect mine.
Last day getting drunk and guys, Kick my ass hard if I drink again! :P
--
To Your Success!
---------------------------------------------------
Nick D'Trader (A Renko Trader of Forex, Commodities & Indices)
---------------------------------------------------
Easy Renko System - Easy Renko
Next Trend Traders LLC
Hello Mr.Nims and others!!!
Great thread, not even read all pages, but already have learnt a lot of new, interesting and useful things.
Going to go deeper in renko, and hopefully to start making profit, because my first 3 tries were unsuccessful (because of my mistakes, which I won't do anymore sure).
So, I have some questions and need advises, and if anyone can help that would be appreciable.
1. for every pair we use the same size of renko boxes or there are differences between pairs and renko box sizes (f.e. we must use 10pips box both for gbp/jpy and eur/usd)?
2. does the time of trading affect for current pair? (f.e. we are going to trade jpy pairs only on Tokyo session? if so, then we must trade or look for good trades on eur/usd pair from start of London session till the end of New York session?) Am I right?
3. according to the manual of this great (don't scared of this word) system, there are 5 rules for trade entry. Are we going do entry anytime the all rules are met, or there are any additional methods? (f.e. to avoid losses in ranging market)
4. Are there any successful strategy for exits in manual trading? share please if there are any.
Also I need advise:
How can I test strategy which doesn't exist in an automated EA form? because it's very hard to do it manually for all pairs and for a long time.
That's all for now
Sorry if answers of my questions you have already given in this thread (I'm still reading)
Regards,
Hayk Gevorgyan
Hello Hayk,
Welcome to the renko trading world, you'll love it's simplicity and noise-reduction charts.
Answers.
1) You can use the same or different, if the pair is slow and has a low daily average from high to low, you can use lower box size like 4 or 5 pips (example Silver or EUR/GBP), if the pair has a normal daily average from high to low you can go with the regular box size and if you pair has a high daily average from high to low ( like Gold, DAX, eur/aud, gbp/aud etc) increase the box size to 20 can help you smoothen out the noise and trade the trends better. You can figure it out by opening a daily chart and then measuring the pips from high to low of the daily candles for the past five days.
2) It does, JPY can move 24 hours, EUR GBP CHF will move UK day and US Morning, CAD USD will move on US DAY and AUD NZD will move from US Day and Sydney Mornings.
3) Following the rules of entry when all line up would be the best setup, but once your getting good you can even enter based on your skill and speculation or even customize the chart with your own indicators to follow.
4) Exit strategy is a future tense, Entry strategy is a present tense and Support/Resistance level is mostly derived from history which is past tense.
For exit strategy you use.
a) Limited Targets example 20-30 pips
b) Previous support or resistance level to exit.
c) No Target and close the profit on the table when your happy.
Last answer, It's a manual trading system and there's no EA or automation. The guys on this topic who are using automation are not using EA's based on this system but EA's of single or multiple other indicators on renko that are found freely on the internet and forums.
--
To Your Success!
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Nick D'Trader (A Renko Trader of Forex, Commodities & Indices)
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Easy Renko System - Easy Renko
Next Trend Traders LLC
I couldn't make money trading DKK or GOLD.
I'm trying to trade the news releases now.
I've spent too much time trying to win with forex to give up now
I couldn't make money trading DKK or GOLD.
I'm trying to trade the news releases now.
I've spent too much time trying to win with forex to give up nowWinners never give up, that's the difference between winners and losers! They even do not consider to give up because they expect that better is behind the corner.
Time or money are not relevant in success but persistence a patience are. Let in your subconscious mind and improvement in trading comes, He can draw the holy grail with ease. In every problem is also solution, in every question is also answer, look for it.
Cheers Hermes