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Renko gold (renko in renko)

  • #61
  • Jul 12, 2026 11:47pm Jul 12, 2026 11:47pm
Quoting Intrepidpips
{quote} {image} I'm out at 1 risk:1.5 reward. Should have been out earlier but I encountered some slippage at my entry so I had to hold my breath, hoping it won't reverse and take me out at BE
you named it yourself back on the 30th, unwillingness to lose. and now its the same thing wearing a different costume, catching a falling knife is just that pattern refusing to accept a loss before it even happens. the interesting part is the 7 losses in a row didnt come out of nowhere, something in your state before trade 1 of that stretch probably already had you in fight mode. do you remember what you were feeling right before you took that first knife catch
  • #62
  • Jul 13, 2026 12:59am Jul 13, 2026 12:59am
Quoting Intrepidpips
I've not been consistent, tried to catch a falling knife a couple of times and did he compulsive trading thing took 9 trades with 7 Ls in a row. {image} Thankfully it's brought some clarity{image}
Afternoon,
I congratulate you on trying to make Renko work for you.
Gold has been difficult lately with the Iran Saga
It is not for me to tell you how to suck eggs but perhaps you are trying too hard.....Look at larger brick sizes and slow down with less trades and look for better levels..eg on last Friday I took only 3 trades with 2 at almost B/E and 1 win ....Slow day for me but I always protect my Capital....To-day I have scalped resulting with the pips adding as I wait for a better level for longer term trades according to my own evaluation.
I find scalping (for me) is best during the Asian session.
I always watch Candle charts and Renko at the same time....Both lower and higher time frames.
Most indicators just follow the market as you know and perhaps you should not place too much emphasis on them........Sure they give one areas of probability but that is all.
Trading sure is a confidence thing and 7-9 lost trades in a row will would dent any ones confidence .

Keep trying and success will come.
R
Ronnie Renko
  • #63
  • Jul 14, 2026 6:40am Jul 14, 2026 6:40am
Interesting

Attached Image (click to enlarge)
Click to Enlarge Name: RNKGLD 148.png Size: 83 KB


I missed the first opportunity which would have been a loss then went long prematurely and paid dearly for it.
The second opportunity that presented itself was seized but when it retraced after missing my TP with 9 pips, I moved to BE which in hindsight was a wrong move as price didn't get to my SL.

Another opportunity presented itself which I would not have considered if I was still in the short trade that I exited at BE, it hit my stop and I impulsively entered long again and was liquidated
Let it turn and find your entry.
  • #64
  • Jul 14, 2026 7:05am Jul 14, 2026 7:05am
Quoting Ced74
{quote} Afternoon, I congratulate you on trying to make Renko work for you. Gold has been difficult lately with the Iran Saga It is not for me to tell you how to suck eggs but perhaps you are trying too hard.....Look at larger brick sizes and slow down with less trades and look for better levels..eg on last Friday I took only 3 trades with 2 at almost B/E and 1 win ....Slow day for me but I always protect my Capital....To-day I have scalped resulting with the pips adding as I wait for a better level for longer term trades according to my own evaluation....

Thanks for dropping by, and thanks for the encouragement.

I should look at the Asian Session and see how i can take advantage of it, I also find myself looking at the time charts some times and decide my exits with it.

I will keep trying and refining success is sure.
Let it turn and find your entry.
  • #65
  • Jul 14, 2026 7:07am Jul 14, 2026 7:07am
Quoting volarix
{quote} you named it yourself back on the 30th, unwillingness to lose. and now its the same thing wearing a different costume, catching a falling knife is just that pattern refusing to accept a loss before it even happens. the interesting part is the 7 losses in a row didnt come out of nowhere, something in your state before trade 1 of that stretch probably already had you in fight mode. do you remember what you were feeling right before you took that first knife catch


I think it was the pain of losing and wanting to get it back, thinking about the equity curve and just hoping this trade would go my way not the way the market decides
Let it turn and find your entry.
  • #66
  • Last Post: Jul 15, 2026 12:56am Jul 15, 2026 12:56am
Quoting Intrepidpips
{quote} I think it was the pain of losing and wanting to get it back, thinking about the equity curve and just hoping this trade would go my way not the way the market decides
hoping instead of deciding is the tell right there. once youre hoping you already stopped trading and started needing the market to save you from the previous loss. the equity curve thing is interesting too, like you were trading against the number instead of against the chart actually in front of you. next time youre down a stretch like that, do you think youd catch the shift from deciding to hoping while its happening, or does it only show up looking back at it like this
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