5 trades for 5 wins, but not as much profit as you might imagine. Oh well, it was another pretty easy day… none of those “oh-my-god-i-will-surely-be-stopped-out” trades that are so nerve-wracking. That Market Sync filter I’m trying out kept me out of the nicer moves today, and frankly after noon I got a little distracted and missed a couple entries that I could have taken.
I still love those Renko charts, they performed amazing again today.
December 18th, 2007 at 5:44 pm
you’ve got too much time on your hands when you’re making pound signs with your name…after watching your recent videos, i’ve been looking at the renko charts again…when u catch a good trend, its easier to ride it out…the problem i see (for me anyway) is how to prevent the whipsaws, and/or playing this chart setup on the right days…if u don’t filter out the chop, it will get old, real quick
hopefully, u come up with an answer soon :-)
December 18th, 2007 at 5:47 pm
With 1pt renko charts, and a policy to b/e after 1.5 points or so, it looks pretty hard to get whipsawed in the sense that you lose money. If you are right at all about the trade, it looks like you at least break even most times. The stops on a 1pt chart are bigger than I’d like, but it seems like the reward is there to cover it.
It would help a lot to be able to watch it in real-time. I guess I could watch SPY on quotetracker as a renko chart. hmm…
December 18th, 2007 at 8:54 pm
THANKYOU RICHARD! YOU ROCK!
I love it when you say that…
Cause I am rIchard!
See ya in the room…
Shelly