Hey Everyone, I’m back again to post a new strategy. Sorry for the absence I have not had a second off of
work to even look at charts.
[B][U]UPDATE!!! 2-20-13[/U][/B]
Anyway new strategy includes Renko Charts, 600ema, 120ema, 250 RSI overlayed with a 120 RSI
Basically you set your renko charts at 15 pip blocks and put a 100ema and 200ema on your charts
along with a RSI indicators.
[B]Long entries-[/B]
look to see that the price has broken the 600ema and the 250 RSI is over the 50 mark.
If the RSI is over 50 but the price is below the 600ema wait until the price breaks the 600ema
to jump in. That goes the same if the Price is over the 600ema wait for the RSI to break 50.
This filters out the bad sideways trades.
[B]Exit rules [/B]- Exit your position when the price goes below the 120ema or the RSI goes below 50. 99.99999% of the time the price will go below the 120ema first. This way you keep more profits.
[B]Short entries[/B] are just the revers. Below 600ema and below 50 RSI.
120 ema is Red dotted line
600 ema is blue solid line
250 rsi is red
120 rsi is black
Re entry Rules –
If you had closed a trade because it touched the 120ema, you can wait for the 120 RSI to Go above the 250 RSI and
close when it crosses back over the 250 RSI or crosses the 120 ema… Example of a good re-entry is below
Love to hear your thoughts…
Thanks so much!
[B][I]Kelton Williams[/I][/B]
Northern VA.
P.S - let me know if anyone is from the Northern VA, USA area. Near D.C.
It really looks nice will be waiting for the pictures, I’ll try this out asap, and if I get possible results, I might use it as my primary strategy as I’ve spent quite a lot of time without much luck, lost a couple of thousands and still standing nowhere!
I get Renko charts by using a renko indicator - that converts a chart into renko, but you can only see it if you open the chart offline. And even though its “offline” the chart is still updated as long as you have the original chart open at the 1min timeframe.
Ps - I updated the system. Also this is a very solid way to trade but not friendly when it comes to time lol.
I want to get a trading group together to trade this 24/7 and take shifts. Then you could kill it.!
I conformed that this type of strategy will be beneficial and helpful in taking decision which stock should buy or sell.
Mostly investor have no brief idea on marketing tricks, they need to keep close eyes on market trends and try to understand its behavior with the help of this graph.
Kelton, by the way… i wanted to ask you to upload the pctures in your first topic again. They are small and even saving them into the computer it`s hard to read whats wirtten on them about the reentrys.
Hey generaal, i would love to have an EA, but an an EA using renko would be hard. And I want to have a trading group and run it as a business. Almost like a prop firm. This strategy works very well but its a long term strategy that takes a lot of screen time to monitor. I want to double my account every month or so.
Hey man, thanks for the support! Ill try to upload some more. I also have a current trade thats been in the green for two days. Hoping to get a few hundred pips out of it.
