- Search Metals Mine
- philstodd replied Dec 13, 2020
I will also have to test fast price moves and how the candles form for entry because we need to get in on that first candle or near it. We should have time seeing 5 or 10 pip moves don't always happen in a flash.....but sometimes.....We need to make ...
Easy Eyes Renko
- philstodd replied Dec 13, 2020
image As you see we follow the regular exit rules when 3 candles form off the entry candle in your favor.....the new rules being tested allow a breakeven or profit when we don't get the 3 below/above the entry candle. No blind exits.
Easy Eyes Renko
- philstodd replied Dec 13, 2020
image I need to clarify the new method i'm testing....3 below the entry candle to stop us out.....testing.....these could have came back and took profit or break even....
Easy Eyes Renko
- philstodd replied Dec 13, 2020
image all these areas show where we could have been profitable or break even instead of using the one candle out method....need to test more. These would have been small losers/spread losses guaranteed with the one candle exit ...
Easy Eyes Renko
- philstodd replied Dec 13, 2020
I am also testing a method where we would get one candle in our favor and and then would need 3 candles to stop us out above/below the entry candle the and if price moves back we HAVE TO take the break even....but after a 2nd candle finishes in a ...
Easy Eyes Renko
- philstodd replied Dec 13, 2020
If you feel there is something to increase the odds of this strategy feel free to post...the only rule is, keep it simple. Trading doesn't have to be complicated. We just need little edges and small odds in our favor. And I will manually back test ...
Easy Eyes Renko
- philstodd replied Dec 13, 2020
The above post is education to show you that when you have these smaller losses....you have to learn that this system WILL ALWAYS have pips that deduct from your trade even if it is a winning trade because of the exit method........this is why YOU ...
Easy Eyes Renko
- philstodd replied Dec 13, 2020
Here we have a good full chart of information to explain. We had one good trade then things went against us. Lets say for a beginners sake, you took all 3 of those losses without one possible break-even and a trade that was near the 200 shortly ...
Easy Eyes Renko
- philstodd replied Dec 12, 2020
Also as I said before. Let 5 consecutive candles or greater be the leader for the system, BUT if you can look back a little on the chart and see 4 consecutive candles being the better consistent flow, you can use that cautiously.
Easy Eyes Renko
- philstodd replied Dec 12, 2020
This chart is to show you how the small losses are acting.....near that 200 exp. Once you get a small loss/breakeven/spread loss and you get another signal not too long after and its near the 200....be leery.....it may act the same way again. I ...
Easy Eyes Renko
- philstodd replied Dec 12, 2020
Also I said about a 5 pips range. I said that because anything below 5 is too choppy and too fast. I stay between 5 and 10 for currencies.
Easy Eyes Renko
- philstodd replied Dec 12, 2020
AS I SAID ABOVE. THIS STOP LOSS METHOD IS ONLY FOR WHEN THE CANDLE FINISHES OUT OF YOUR FAVOR DIRECTLY AFTER YOUR ENTRY CANDLE. image
Easy Eyes Renko
-
Easy Eyes Renko
Started Dec 12, 2020|Trading Systems|161 repliesHello friends. Big Phil back with a possible strategy to keep it simple. I have moved away ...
- philstodd replied Dec 7, 2020
TWO trades I missed because I was not home...one i would of been in right now. image
Odds In Your Favor Scalper