GG Renko bricks

[rosst]

Oke,

Nearly two weeks on my way with the EA.

Started a Myfxbook;

http://www.myfxbook.com/members/Generaa ... vis/536224

First week here - up about 30 pips but I had been using only .01 lots - I have now changed it to 1 lot on the 10k acct - winners are 2x larger than losses which is nice to see a good RR.... thanks for sharing....

[niepce]

Oke,

Nearly two weeks on my way with the EA.

Started a Myfxbook;

http://www.myfxbook.com/members/Generaa ... vis/536224

I have not yet trade manual/EA on this, but I would like to know if you still use the original rule of thumb of 40pip for SL and 80 pips for TP ?
And do you still move all SL&TP when re-entering ?

Thanks.

PS : please post your setfile !

[Generaal Goudvis]

I had a very troublesome week with the TP-SL....


The things I saw this week on my Generaal Goudvis account:
Huge growth of pending profit…..in open trades, sometimes even a 100 pips “plus” that turned into a 80 pips loss, which closed on a stoploss
As a result even a less balance, because 4 trades in a row turned into a stoploss…
Of course this can be checked on myfxbook….
url]http://www.myfxbook.com/members/Generaa ... vis/536224[/url]
but I started with nearly 8.000 euro in my account, had some very good looking trades. I even was (including open trades) up to nearly 12.000 euro. Ended the week with 7.500 euro on the balance.

This makes me wonder….I still believe the entry is fine. The exit is still “blunt” and without much intelligence. A stoploss of 80 pips (based on the setup of three bricks and the size of the bricks I determined it as 4 x 20 pips). The takeprofit is determined as 1,5 x the Stoploss.
See the example below for an actual trade of this week

blunt tp and sl.PNG

Could and should I have done this differently? If I would set at BE, I already would have been stopped out three times…so these trades need room. And it wouldn’t have given me the opportunity to reach the over 100 pips in profit it did reach afterwards….

Is it part of my trading…so don’t focus on the 12.000 euro during a week…but only on what brings the week, and what was is previous weeks?

I also noticed °see image° that all trades where xxxJPY, so depending on one currency...and if that changed all changed. Hmmmmmm, sounds newbie

So your help on this would really be appreciated....As you can see I am in the middle of a °what to do about it° crises

[rosst]

Seems like there was one bad day - but overall profitable - seems like a sound system maybe just needs more time?

[rosst]

The weirdest equity curve I ever saw!

[SteveHopwood]

I had a very troublesome week with the TP-SL....


The things I saw this week on my Generaal Goudvis account:
Huge growth of pending profit…..in open trades, sometimes even a 100 pips “plus” that turned into a 80 pips loss, which closed on a stoploss
As a result even a less balance, because 4 trades in a row turned into a stoploss…
Of course this can be checked on myfxbook….
url]http://www.myfxbook.com/members/Generaa ... vis/536224[/url]
but I started with nearly 8.000 euro in my account, had some very good looking trades. I even was (including open trades) up to nearly 12.000 euro. Ended the week with 7.500 euro on the balance.

This makes me wonder….I still believe the entry is fine. The exit is still “blunt” and without much intelligence. A stoploss of 80 pips (based on the setup of three bricks and the size of the bricks I determined it as 4 x 20 pips). The takeprofit is determined as 1,5 x the Stoploss.
See the example below for an actual trade of this week

blunt tp and sl.PNG

Could and should I have done this differently? If I would set at BE, I already would have been stopped out three times…so these trades need room. And it wouldn’t have given me the opportunity to reach the over 100 pips in profit it did reach afterwards….

Is it part of my trading…so don’t focus on the 12.000 euro during a week…but only on what brings the week, and what was is previous weeks?

I also noticed °see image° that all trades where xxxJPY, so depending on one currency...and if that changed all changed. Hmmmmmm, sounds newbie

So your help on this would really be appreciated....As you can see I am in the middle of a °what to do about it° crises

Ok, going to be a bit rude here, but only because I want to help.

Only an idiot believes Renko trading actually works. Looking at the chart, they look fabulous. They went up for ages. They went down for ages. They are clear cut.

So why does trading Renko charts generate consistent losers? No idea. Fact is, they do.

Why did I code the ea here? No idea. I must have been drunk.

Forget it guys. If trading Renko charts actually worked, we would all be rich. They don't, so we aren't.

Memo to myself: say 'no' to every subsequent request to code a Renko ea from here on in.

[droland]

love these replys.

[SteveHopwood]

Of course, the present EA can't be improved via range bars without a major overhaul--because it was built around Renko rules at its very core.

Depends if there is something that produces range bars - the EA works with the bars on the chart. Anyone got a range bar producer to test this out?

[Generaal Goudvis]

I looked into it. Range Bars are also based on Open and Close...same as Renko.

As a result it should work...RJo, please check.

[Generaal Goudvis]

Oke RJo I see your point......

Using Range bars instead of Renko. And something different than MA...this would be more than an overhaul.

GG