Here is my lovely loser chart for the day. -13.5. I felt that they were all high probability trades but looking back I think I need to wait for a strong bar after the pull back or more confluence. I thought I had some with the prior pivots (prior days not shown) and ME line support. Congrats to Kid for knocking that +25 out of the park though! Nice call on the DB!
sorry can someone advise which futures broker they recommend to be used for this system?What spreads do you need to get this to work with? I'm coming from equities trading and I'm finding all this a little too overwhelming but I'm determined to use this system the way it should be ie with the right tools. Can you please be specific about it and not say 'oh this can work with equities blah blah' I want the exact setup that people have been using to get this to work consistently. I'm playing around with Ninja Trader 6.5 so is this what I should use or TradeStation(I have that also but never had the time to learn it). Please I'm determined to learn but want to follow it correctly.
Hi guys... I was asked to post my chart today so here goes. I don't have time right now to mark it up, but the buys/sells should be obvious. I took absolutely no shorts today as I believed the anchor was in an uptrend. The buy that you see near the end where I nailed the 25 pt move was based on an anchor db and i had a limt order there. I move my stops under pivots and let it run until we meet resistance on anchor in which case I'll start tightening it based on single bars. That's how I got nearly the entire move. You'll notice i started the morning off +200 and then took 4 losses in a row before I nailed my big trade. This is the only way I've found to be able to be consistent trading 1 lot. Stops are based on 3 ticks under major pivots. No stop was bigger than 4 pts today. If I continued to trade the afternoon I would have had another home run, but that's ok with me. I was happy to end the day net +300. Hope this helps.
A friend of mine uses renco charts for AHG style trading . He is very successful. He showed me the charts. Charts look very simple and trends -when they are there- are so easy to recognise. Similarly trnd changes are sharp and visually very attractive. No need to use any indicators. The purpose to ask here is there anybody using these charts for AHG method or any other method? I would like to explore more and know about these charts there is everything to know. Please give whatever feed back you have. Particularly are there any pitfalls using these charts? I feel with these charts everybody can have some success in trading. All comments and suggestions for additional reading much appreciated.
Here are a few I posted. They are a simple way to identify support and resistance. http://www.elitetrader.com/vb/showthread.php?s=&postid=1784277#post1784277
Two questions to you or whomever understand Renko charts: 1. How are Renko charts different than range bar charts? 2. What charting platforms offer Renko? I have NT and TS, and neither have Renko as far as I know. NT offers range bars on beta 6.5, but TS doesn't offer range bars at all. Thank you.