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Ezakimak's Trading Blog
Posted: Tue Mar 01, 2011 12:30 pm
What a great community here at Kreslik.com! The free sharing of ideas, the advice and the great indicators all make for an enjoyable read each time I visit. There is a so much more practical work going on here than at other forums. Mr Kreslik, The Rumpled One and all the other contributors have got a good thing going on! Glad to be here and a part of it.
Time for me to share the ways that I trade and contribute to the community. The best way to do this is to write a trading blog and post my trades as they happen. I will also post up different ideas I am trying out and the different strategies that I fiddle with. I had a blog and another thread at Forex Factory, but am not overly fussed with some of the goings on there, so here I am!
My net name is Ezakimak, I like to trade renko - let's rock and roll
Posted: Tue Mar 01, 2011 12:40 pm
Here is the trade I have open at the moment on EURUSD. This is based on the method put forward by dchappy in the Ninja Platform thread. What an awesomely simple idea.
What you see here is a 10 pip renko range bar chart with heiken ashi overlaid. The renko blocks are coloured to be hidden in the background. TRO's regression channel across the chart and Woodies CCI at the bottom.
Entry is triggered by the appearance of the semafore above the channel followed by the appearance of a red heiken ashi candle. When the Woodie matches the the candle colour, off you go. I have a target set at the bottom of the channel. I prefer to trade in the direction of the channel to keep with the trend. If it is boxing, I will trade the swings.
Normally I use renko blocks to build the chart, but I am having a play with the renko range bars on this chart to see how they compare.
Let's see if my target gets hit....
*Edit - Forgot to attach the picture!
Posted: Tue Mar 01, 2011 12:50 pm
While typing that last post, my target was hit.
Posted: Tue Mar 01, 2011 1:16 pm
The signals are shaping up on USDJPY: Semafore above the channel, followed by a red heiken ashi. Just waiting now for the Woodie to go red and we will be in.
Although it is past midnight now so I might need to go to bed soon....
Posted: Tue Mar 01, 2011 9:05 pm
This morning the signals are still all up on USDJPY. The only difference to last night is that the Woodie has now confirmed. Entry activated. Hopefully price will continue its slide downwards.
Posted: Tue Mar 01, 2011 9:55 pm
Gotta go out for a couple of hours so will put on a trailing stop and see how we look when we come home!
Posted: Wed Mar 02, 2011 2:33 am
Just got home from picking up the mother in law at the airport. Price has hardly moved since I left home! I'm thinking that it might be stalling....
Will keep an eye on it and move to breakeven + 1 as soon as possible.
Posted: Wed Mar 02, 2011 4:06 am
Welcome, I'd like to introduce you to dchappy.
http://kreslik.com/forums/viewtopic.php ... sc&start=0
EDIT: I see you've already checked out what dchappy has going on. I should have read futher before I commented.
Posted: Wed Mar 02, 2011 5:29 am
Hello tmanbone, thanks for the welcome! As I mentioned earlier, I am glad to be here and share my trades. Hopefully we can all continue the learning process that is Forex trading.
I really appreciate the work that dchappy has done. I was trading a similar method before, but using renko price action patterns to pick the waves. The introduction of the linear regression channel and heiken ashi as clear points of entry is simple genius. It makes things nice and clear and gives you a degree of confidence in the trade that can be absent sometimes when trading price action alone. I have made somewhere around twenty trades in the last fews weeks with this method, and have had only three losers. The losers were when I went against the trend. Now I try and trade with the trend as much as possible. If I trade against it I will use a smaller lot size to minimise my account exposure.
Let's keep draining!
Posted: Wed Mar 02, 2011 10:12 am
Just got back from being out for dinner and this trade is still open! USDJPY doesn't want to play the game today. As soon as I see some profit I will take it.