forex live trades, setups, charts
withnail wrote:Hi Ezakimak, Nice trading log. I was wondering which Renko script you are using and what box size. Thanks Withnail.
Thanks for stopping by
The renko code is attached here for you....
I found it in this thread on Forex Factory: http://www.forexfactory.com/showthread.php?t=199285 That is a really good thread to read to learn all about renko.
I trade the Murrey Math Lines on the GBPUSD and use a box of 5 pips (50 pippettes if you have a 5 digit broker)
On the other pairs, where I scalp using the method shown tonight, the boxes are 15 pips (150 pippettes on a 5 digit broker).
I have a PDF somewhere that explains how to set up the renko in MT4. Will dig it out and post it here for you too.
Happy to answer any questions you might have. I am only a hobby trader, and this is something I can only do in the evenings after work, but I really enjoy it and am keen to hear from other using similar methods.
- RenkoLiveChart_v3.2 (1).mq4
- (13.9 KiB) Downloaded 78 times
hi. i liked this thread as it started good, basic rules that you followed and made profits. read through the whole thread within a day. then im guessing you had some loses outside of this forum, so you started "tweaking" your method. There is actually a term describing your situation and its called anchoring - moving on to a new method when previous one failed a couple of times. "keep it simple" doesnt mean you add filters only to remove them later to maket it "simple", it means mastering one set of rules and following them untill you are intimately aware of pros and cons of every trade you take with those rules. mastering one trade is superior to half-mastering 5 of them. right now i dont think you know exactly what indicators you are using to take trades right now, cuz you keep changing them almost every day. good luck to you tho. keep it simple.