New System Test: RENKO 7 - Page 2
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Thread: New System Test: RENKO 7

  1. #11

  2. #12
    So far this experiment/test has been exactly what I needed. Though just a demo account, adhering to the principles has been a refreshing experience.

    The first day or so was a horror series with almost every trade but one failing. But, instead of breaking the rules, moving SLs or adding to losing rankings, I allow the transactions finish their course and succeed or fail. The draw down at worst point was 13 percent. I stuck to my egy and system and continued to enter transactions that match all of my system requirements (although, I must admitmy confidence in the system was feeling somewhat shaky after such a bad start).

    In the end of the afternoon the system did what it was supposed to do.

  3. #13
    Quote Originally Posted by ;
    Hello, I enjoy your honesty here on thread and persistance to continue with Currency Market after 10 years.Many traders will very much sooner. Your egy will operate at ranging markets but will kill your account or at least will have big DD periods when stronger tendency are there. For instance, study your EUR/NZD chart just how much would you lose and how much divergences are you? This egy won't work or you need more filters (for example longer duration brick size with chart 7). Just to secure your time! Regards! picture
    Hello and thank you for submitting. Sorry for the delay in responding, I only saw your article.

    The transactions you submitted that would have been losers aren't transactions I would have obtained because there wasn't any true retracement. The second one would not fit my requirements on account of the little retracements between the divergent end points since you have drawn them. As you stated, using only 7 brick renko these little glitches truly don't provide the divergence true credibility.

    Although double tops and classic divergence are clearly contrarian in nature, my TPs are only 33 and 49 pips, so even in stronger trending markets, those are not actually too big. Of course, as in the trade you re-posted, I am always looking for hidden divergence to capitalize on a trending market.

    Again, thanks for your input, it's extremely effective and inspires me to consider and think about any alterations that are needed. I am still weeding out certain set ups. As far as the draw down, at 2% a transaction, 10 losing transactions isn't astrophic (honestly, choosing 10 winners at a row with such small TPs would appear hard to perform )

    Cheers and decent weekend and trading to you!

  4. #14
    Quote Originally Posted by ;
    quote Hello and thank you for submitting. Except for the delay in responding, I only saw your article. The trades you posted that could have been losers are not trades I would have taken since there was not any true retracement. As you mentioned, using only 7 brick renko these small glitches truly don't give the divergence accurate validity.
    Hello Expo33,

    So what could be actual retracement on your eyes than? Look at your USD/CHF trade it also has not got any true retracement period.

    Not attempting to disprove you just attempting to understand logic behind your own entries.

    Regards!

  5. #15
    Quote Originally Posted by ;
    quote Hi, So what could be real retracement on your eyes compared to? Look at your USD/CHF commerce it also has not got any true retracement period. Not attempting to disprove you just attempting to comprehend logic behind your entries. Regards!
    Agree, which USD/CHF setup should most likely be scratched in the plan.

    The double tops appear to behave somewhat different, although I have noticed that longer and stronger moves into double tops appear to have the most success. I have been contemplating just entering double best trades after two to three brick retracements or if the RSI is a bit more oversold or overbought. Again, still in the beta phase here attempting to weed out certain transactions.

    Here is great illuion:

    First double top on the chart, not a huge move into it, barely 70 on RSI, just 1 brick retrace, and fail.
    Second double top after very powerful move, RSI well over bought, two brick retrace, and winner

    Like any good trader, it comes down to patience and stalking the commerce with the best possible set up.

  6. #16
    Of course everyone is a hero in hindsight, however here's the dragon demoning a fantastic example of what we are searching for in divergence and double tops.

    Quite strong move into the classic bullish divergence, almost 80 on RSI, fantastic retracement between consecutive lows, and pleasant angles on our divergence lines in yellow.

    And second, a strong move into a dual top, nicely overbought, 90 on RSI, 2 brick retracement, intense angles on divergence lines.

  7. #17
    Set ups which don't meet requirements:

  8. #18
    Quote Originally Posted by ;
    Set ups which don't meet requirements: picture
    Hello Expo33,

    To me personally it is quite subjective,you want at least 1 filter. . .but anyway wish you luck with ribbon.

    Highest Regards!

  9. #19
    Quote Originally Posted by ;
    quote Hello, To me personally it is quite subjective,you want at least 1 filter. . .but anyhow wish you luck with thread. Highest Regards!
    Thank you.

    Really, trying to weed out setups that are too subjective. Studying and searching for another piece.

    As in my last trade, a UCAD neglect. A good illuion of my over trading and seeking to force a set up that didn't really fit the prerequisites.

    NOTE: I will be updating the initial post as time allows to try to outline the exact requirements needed for each kind of setup. For example, the more I examine the double shirts, the more non-subjective attributes I see that seem to be present with all the winning trades.

  10. #20
    I like your style of trading simple and non objective...

    My focus is really on doubles tops and bottoms with a 10 pip renko pub

    First 2 transactions



    I utilize Risk/Reward of 1: 1 ( 3 renko bricks tp and same with sl)

    Installation 1


    Installation 2

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