Trading the German DAX open with mean renko bars
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Thread: Trading the German DAX open with mean renko bars

  1. #1
    Hi all.

    I have been watching the DAX for the previous 2 weeks and im going to trade it on a demo for some time now.
    I actually like what we see there with my mean renko charts (20).

    My system is patterns predied like dual tops/buttoms, split double tops/buttoms, 3 point turns and fashion continuation trades.
    And I use a swing indior on the market.
    Stoploss just over the last high: That is always about 10 pips should I use dimension 20 on the renko
    take profit depends upon the trade but at least a 1:1 R/R.
    The goal is to become at least 50 euro per morning trading session. I only trade for 2,3 sometimes 4 hours each day if I do not have to operate...

    here is my first transaction from friday.
    It's a trend continuation trade using a 1:1.8 R/R.
    The green collor you see is the first hour that the DAX is available



    .

  2. #2
    The exact same thing , only saw your egy I has been trying stil trying timeframes and diffrent Renko brick size, for the last week. Do youself a favor and download Protrader MC charts, register a demo and log on Protrader together with the FXCM user and password, FXCM is broker which support Protrader. Protraders Renko chart is very easy to use and you may alter them very easy , you don't have to open offline charts such as in MT4. On Protrade I use 3 charts with configurations that are diffrent , to give me a longer, a short and medium visual of Renko.

  3. #3
    Thanks for the trick fxsterlingfx!

    The charts I use are very easy to use as well and I used them for more than two decades now... so I stick with those the only thing I is that I pay a montly fee of about 4 euro's for these charts and indiors. That is I. . I, however, will have a look at FXCM/protrader just to compare them.
    20 is a fantastic dimension in my eyes. Not to fast and love to see my results fast.
    I also looked in the longer term (brick dimensions 100 or even 200) and it's all the same... just slower... size 10 on the other hand is super quick. So fast that it gets difficult to get at the right time (brick).
    And between the DAX available 08:00 until 11:00 you'll have plenty of trades on the 20 to be performed for the day.

  4. #4
    Renko charts can look quite different.

    Placed your trade in my chart:


  5. #5
    They can Crackpot.

    That there are also a lot of unique sorts of renko charts.... You have regular renko's, bend renko's, hybrid renko's, imply renko's, time and price based renko's and likely more...

  6. #6
    Hello,

    I Enjoy so much of the DAX.

    Subscribed !!

    Today, you can share your indiors and templates
    ;-)

  7. #7
    Welcome Luizschiavi!

    lol! Continue on dreaming it is not that I don't wish to share but I admire te guy who made it no sharing this period....
    No trades today as the DAX is closed today.

  8. #8
    Okay....

    I can understand your perspective !

    Great if you found a good method that works for you !!

    Here is the method I?m using....


    Skype:
    luizschiavi_skype

    email:


  9. #9
    good to see you've got your own plan Luiz! And can you trade Micro lots on the DAX?? I can only trade miniature lots as far as I understand....

    i missed the opening this morning.... So I went to get a US open session!


  10. #10
    Quote Originally Posted by ;
    good to see you've got your own egy Luiz! And will you trade Micro lots on the DAX?? I can only trade mini lots as far as I understand.... I missed the opening this morning.... So I went to get a US open session! image
    Hello Buddy,

    Where are you?
    You disapeared !

    Trading yet?


    I update my chart like this

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