Renko ADX Stoch system - page 2

To add comments, please log in or register
generousforex
371
generousforex  

Yes

bh4v1k:
Thanks for that GF. So do you trade this system? how well has it done for you?

bh4v1k

HAPPY PIPS!

I trade a system that is very very close to this

so really the same basically. I have been doing

very well.

He uses 15 pip renko, I use 10 and many others use 20

so its just deciding what works best for you

with your setup and personality but 10 works

great for me.

GF

bh4v1k
66
bh4v1k  
generousforex:
I trade a system that is very very close to this

so really the same basically. I have been doing

very well.

He uses 15 pip renko, I use 10 and many others use 20

so its just deciding what works best for you

with your setup and personality but 10 works

great for me.

GF

Just done some rough testing looks good. Do you find that its better to ride trends or do you just go for 1 box or a couple to keep a good profit ratio and get out the market? With the indicators used looks good however do get a couple of bad signals which is ok but it means you have to keep a 1:1 ratio at least or you can loose in the londgrun.

Thanks in advance

bh4v1k

HAPPY PIPS!

generousforex
371
generousforex  

Trades

Yeah I use the Probability meter, cja's signal bars 8

and the tro snakeforce multimeter for my trend strength

then get out of trades based upon being comfortable

with them.

I always attempt to get as many pips as my

trade can give me for each trade myself

kreslik.com - Traders Community :: View topic - 2009.03.08 TRO_Multi_Meter_Snake

GF

bh4v1k:
Just done some rough testing looks good. Do you find that its better to ride trends or do you just go for 1 box or a couple to keep a good profit ratio and get out the market? With the indicators used looks good however do get a couple of bad signals which is ok but it means you have to keep a 1:1 ratio at least or you can loose in the londgrun.

Thanks in advance

bh4v1k

HAPPY PIPS!
jlgardner263
56
jlgardner263  
bh4v1k:
I also just noticed that from your trade setups in the picture on post one. Trade numbers 1 and 2 the MACD is on the oposite side? am i reading it right, becuase trade setup 3 the MACD is the correct side.

Whats your thoughts on this jlgardner263's? or is this were the discretion is when taking the trade.

Thanks in advance

bh4v1k

HAPPY PIPS!

I didn't explain that picture well enough. Point 1 is the first entrance, the ADX lines converge and then spread, and the stochastic cross is near enough to trade. Point 2 is actually the exit point. Immediately after point 2 is another ADX cross in the opposite direction, but since all of the rules are not meant, i give it a thumbs down. Point 3 is the next entry and point 4 is the next exit. Hope that helps.

bh4v1k
66
bh4v1k  
jlgardner263:
Further Filtration. I forgot to mention. An opposing stochastic cross outside of oversold and overbought territory is a bailout signal. Once the stochastic is in oversold/overbought, we wait for it to cross back across 20/80 for our exits. If stochastic does not enter oversold or overbought then this is not the kind of trade we are looking for and we let it go for a small profit/loss/break even.

Just to confirm by this you mean if we dont pull the trigger on the trade while the cross happens in oversold/overbought area then the trade is void? becuase sometimes it does cross in those areas but the ADX then crosses after within 3 blocks so would we take this signal?

Also is there any perticular order in which we see a trade devoloping, for example we wotch the ADX and once that crosses we wait for a stoch cross within 3 blocks? or does it mean if there is a stoch cross 3 blocks before the ADX cross or 3 blocks after the cross its still a valid trade?

Thanks in advance for your help.

bh4v1k

HAPPY PIPS!

jlgardner263
56
jlgardner263  

In a good scenario everything will line up, there will be an ADX cross with a stochastic cross to confirm it. I originally said within three candle sticks, this has to be adjusted between currencies. I'm trying some different currencies right now and it is definitely not working as well. This is kind of a fishing system, and the goal is to drop non-profitable trades as quickly as possible and to hold on to the profitable ones. I've found that a cross outside of oversold or overbought territory is a good indicator that I should get out of that trade early. So, essentially if the stochastic does not make it into oversold territory, it's not going to be one of the more profitable trades.

I've been looking at other ways to work this as this system gets you into trades rather late. This seems to work best on the GBP/USD and the EUR/USD. It doesn't seem to work very well on the USD/CAD or the GBP/JPY.

Right now I'm practicing with something more similar to the original Mr Nims setup. I'm using the LSMA default and LSMA (5), and taking trades while they are in agreement, using the 5 period for exits. This seems to be slow but profitable, you might try it, it has simplicity and accuracy going for it now on the GBP/JPY. This is the first time I've run it live, so I have no real results. One open trade at +78. Back tests are very promising.

bh4v1k
66
bh4v1k  
jlgardner263:
In a good scenario everything will line up, there will be an ADX cross with a stochastic cross to confirm it. I originally said within three candle sticks, this has to be adjusted between currencies. I'm trying some different currencies right now and it is definitely not working as well. This is kind of a fishing system, and the goal is to drop non-profitable trades as quickly as possible and to hold on to the profitable ones. I've found that a cross outside of oversold or overbought territory is a good indicator that I should get out of that trade early. So, essentially if the stochastic does not make it into oversold territory, it's not going to be one of the more profitable trades.

I've been looking at other ways to work this as this system gets you into trades rather late. This seems to work best on the GBP/USD and the EUR/USD. It doesn't seem to work very well on the USD/CAD or the GBP/JPY.

Right now I'm practicing with something more similar to the original Mr Nims setup. I'm using the LSMA default and LSMA (5), and taking trades while they are in agreement, using the 5 period for exits. This seems to be slow but profitable, you might try it, it has simplicity and accuracy going for it now on the GBP/JPY. This is the first time I've run it live, so I have no real results. One open trade at +78. Back tests are very promising.

I'll take a look however be carefull am pretty sure LSMA repaints thats why in the mr nims thread it got changed to XPMA at the start.

Yep your right about following the profitable moves and getting out of the smaller ones asap. I understand we need to use a 2 box stop loss becuase the price has to move twice a box value to make another one. If we can use S/R lines or find a point at were the market has momentum we can afford to have a 1 box stop loss, which in the long run will help the profit ratio heavily. I have done a bit of testing and providing you find a good point at were its got momentum it doesnt even get near to hitting our stop.

Let me know your thoughts.

bh4v1k

HAPPY PIPS!

bnbb2004
270
bnbb2004  
generousforex:
Yeah I use the Probability meter, cja's signal bars 8

and the tro snakeforce multimeter for my trend strength

then get out of trades based upon being comfortable

with them.

I always attempt to get as many pips as my

trade can give me for each trade myself

kreslik.com - Traders Community :: View topic - 2009.03.08 TRO_Multi_Meter_Snake

GF

Hi GF!

Could you please post a screenshot of the renko system your trading? TIA!

generousforex
371
generousforex  

Absolutely!

bnbb2004:
Hi GF! Could you please post a screenshot of the renko system your trading? TIA!

Here is my main renko setup

GF

Files:
gfrenko.gif 35 kb
elfural
38
elfural  
generousforex:
Here is my main renko setup GF

I see nothing

To add comments, please log in or register