I am happy to share the efforts to explore different Renko, paper trades, trades with 1 lot in testing phase from last 10 days did good result. Not counting the gain in terms of points, but the way i am playing in this highly volatile market hinting me that my decision of replacing candlestick with mean renko charts is good idea :)
Today able to make 255 points in BNF despite of huge volatility.. In-fact last trade i covered in panic and missed easy 100 points.
Nevertheless, i will continue trading with 1 lot (some times adding second lot if i am willing to risk some gain made) till month end and then follow my SCALE UP plan.. not in a hurry to move to 10 lots directly. Need to go systematically to break the resistance of 10 LOT SIZE which i am unable to do almost since 2 years!
Below are 3 trades executed in BNF.
Also i am sharing these trades in Twitter, you can follow @Only_Nifty for academic purpose.
I wont be documenting trades in blogs everyday, as i am moving for another way to maintain trade journal. Exploring better way for that also.
Today able to make 255 points in BNF despite of huge volatility.. In-fact last trade i covered in panic and missed easy 100 points.
Nevertheless, i will continue trading with 1 lot (some times adding second lot if i am willing to risk some gain made) till month end and then follow my SCALE UP plan.. not in a hurry to move to 10 lots directly. Need to go systematically to break the resistance of 10 LOT SIZE which i am unable to do almost since 2 years!
Below are 3 trades executed in BNF.
Also i am sharing these trades in Twitter, you can follow @Only_Nifty for academic purpose.
I wont be documenting trades in blogs everyday, as i am moving for another way to maintain trade journal. Exploring better way for that also.
Your TP is take profit area or trade intiated Area ? its confusing in your picture....
ReplyDeleteZen,
DeleteI generally put TP at the place where i exit trade by drawing a small line.. but in MT4 there is no option to draw small lines or pencil kind of tool.. so mentioned at arrow itself ,, which i draw at bar below/above i took trade.
Hope it is clear :)
This problem I am facing too!
DeleteLike in 1st image you have mentioned TP (+120) around DH.
Where did you enter then?
Answered above already
Delete"If entry is short i enter below low of BLACK BAR on top of which i placed red arrow"
You are getting wicks in your Renko Charts whereas in Zerodha Kite no wicks are coming. Anything I need to do ?
ReplyDeleteVeer
Veer,
DeleteNone of Indian broker platforms offering proper renko charts.. I am using a paid expert advisor I got from a friend who trading forex using same. My plan is to get it coded as per my likes after this month end.
You can Google out and get a reliable phyton coder to code it for you as custom indicator or expert adviser.