Simple as 1-2-3

[Sandra]

Nice Trading Dc......

I dont quite get the renko bar thing...but looks like you do!

sandra

[tmanbone]

This one worked for me. I downloaded the newest version. v3.2

http://www.system-forex.info/2009/09/re ... n-mt4.html

The trick is it's an EA, load it on a 1m chart, then keep the 1m open and open a m2 offline chart to monitor price. After a second look it looks like Chappy has his loaded on a m30 chart and then pulls up the offline M2 to monitor price, so I may be wrong about what timeframe chart to load the EA on.

[gfg1]

noushi, downloaded it from here:

http://www.forexfactory.com/showthread.php?t=189584

Opened a 1 min chart added the EA. By default is goes to a 2 min offline chart you then open.

Hey DChappy. I've been looking all over for those renko bars. Could you give me a link please?

[Brookmyre]

Hi Chappy,

Just wondered if you had considered using the Traders Trick Entry?

http://www.earnforex.com/forex-e-books/ ... _Entry.pdf

Also, just curious as to the MA setting you decided on...are there different considerations when using Renko Bars?

Cheers

[dchappy]

Hi Guys & Gals :

Thanks for your interest .

Tman : No , I haven't abandoned the sema's ..in fact all the # 1's are semas..

I have been watching 1-2-3's for a few years and also noticed that the macd divergence & the 1-2-3 entries were almost identical .

The problem I have noticed with the line crossing methods that I have used . Is that it is sometimes hard to see when the cross occurs..often they merge together and even bounce away at the last minute ...know what I mean ??.

Anyway ,with the 1-2-3 , price either "breaks " the # 2 point or it does.nt .

Pure price action , based on Elliott Wave structure .


The Renko indy was given to me ,so I can't post it ( sorry) ..but there should be free ones availiable .

Actually you don't need it , time candles work just as well , it's just a preference .

By the way ,,as i said , I'm posting for selfish reasons ..trying to improve my trading and gain insights from others ..

Hopefully this will help others with their journey as well..


Trade Well

[dchappy]

It's funny how we search for the next "new" method .etc ...

Jessie Livermore was trading the 1-2-3 , over 100 yrs . ago ..hehehe....

[noushina]

Thanks for the links to the renko guys. That link GF1 posted has 3 current versions. The top1 is script, the second is indicator, and the third is EA. Using the indicator version. Works great. Great now I have another system to keep me fooling around instead of making money
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That livermore comment doesnt look like the Joe Ross 1-2-3. Looks more like retest and breakout or rejection off SR.

Also I think the Joe Ross trick entry isn't 123 either. I think it basically a pull back.
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Totally off topic - but I noticed the ages of tman, dchappy, and GF, and also TRO and note that we are all in our mid 50s.

Relevant to us all is something I have been meaning to investigate more thoroughly - a self directed Roth IRA. My understanding is that you can day trade, do futures and do forex with it. And with a roth the tax is paid already, and so no more tax on the money made when we can begin to start using it at age 59.

I am assuming that by the time we all reach 59, we will have learned to make $1000 or two each week then it would be handy to not have to pay tax on it.

Google: self directed IRA custodians (or leave the "custodians" off -- but there needs to be a custodian who gives you permission to invest your IRA funds where you want -- there is some issue that this may be a breach of fiduciary duty.)

Sorry for the hijack.

[dchappy]

Thanks for the links to the renko guys.

That livermore comment doesnt look like the Joe Ross 1-2-3. Looks more like retest and breakout or rejection of SR.

But the Joe Ross trick entry isn't 123 either. I think it is more of a pull back.
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Totally off topic - but I noticed the ages of tman, dchappy, and GF, and also TRO and note that we are all in our mid 50s.

Relevant to us all is something I have been meaning to investigate more thoroughly - a self directed Roth IRA. My understanding is that you can day trade, do futures and do forex with it. And with a roth the tax is paid already, and so no more tax on the money made when we can begin to start using it at age 59.

I am assuming that by the time we all reach 59, we will have learned to make $1000 or two each week then it would be handy to not have to pay tax on it.

Sorry for the hijack.

Yes, but isn't a 1-2-3 , a retest and break out of the #2 ? .

btw .. the literature i have read recommends the distance between #2 and #3 as the target.. it looks like taking 50% to 70% of that figure will increase the win rate considerably .

Thank You for the IRA info ...our time is approaching quickly , is'nt it ?.

(this a.m. was the 1st loss since 1/31..)

[noushina]

"Yes, but isn't a 1-2-3 , a retest and break out of the #2 ?"

Yes, but with the 3 being a higher low if going long (as shown in your examples directly above) -- whereas your livermore trade has 3 = 1.


Also, I edited that previous post of mine slightly.

[lazygeorge]

hey dchappy

Great thread,i really like simple stuff coz it works

Just a few questions regarding what inputs you use for renko??

Also the period of MA you have on your chart?

keep up the good work and it will,like you said,help some of us on
our journey