Renko Silver Trading Experiment

[timepass]

Oh yeah, what are your parameters for stochastics ??

 

[sdrazisha]

The default ones.

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[newtrader101]

Stochastic has always stopped me taking many trades that would have proved to be best.

I have always faced this issue. Hence I have taken of stochastic to understand a trend. One can use anyothet momentum other than stochastic, this is merely my personal opinion.

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Thanks, I will check out both of your suggestions, though I'm new to Don Chian.

 

[sdrazisha]

Please do and also let me know if you are successful.

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[newtrader101]

Review:
Looking at the Renko on 4 hour, there are fewer whipsaws. 15 min may be too small a time frame to start with. Actually the 4 hour Renko suggests one could do away with Stochastics or other bottom indicators (see chart below).

• Need to remember always to buy NRML.
• Need to start trailing after a minimum profit.

The blue lines show Lunar ingress points (when the Moon changes sign)

 

[sdrazisha]

If you are using volatility as part of trading I suggest you to use targets if you are a break out trader like me then you can use trailing stop loss.

One should use tsl only during break out the rest of the time the movements result's in many whispaws

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[newtrader101]

Don Chian and Bollinger Bands do not seem to show any difference.

 

[newtrader101]

If you are using volatility as part of trading I suggest you to use targets if you are a break out trader like me then you can use trailing stop loss.

One should use tsl only during break out the rest of the time the movements result's in many whispaws

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Great. And for break outs 5 min normal candle sticks are a good fit, right?

 

[sdrazisha]

The longer time frame the lesser whipsaws.
Time frame depends on your position if you are day trader 15 Minutes is better. You can scale up for higher time frames if you are positional trader

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[timepass]

Newtrader101, what are your parameters for stochastics ?