Renko Silver Trading Experiment

newtrader101

Well-Known Member
#1
Fellow Traders,
In the light of the results of The Gold trading experiment I thought Silver might be a better instrument as it is more volatile. Renko reduces the noise.
Still I'm apprehensive about keeping overnight positions in Silver, because of its sudden moves.

1525696033198.png


Waiting to see if it will bounce off the MBB with a bullish stochastic crossing on the 15 min chart, as the trend is upward.
 
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newtrader101

Well-Known Member
#3
Was falling on heavy volume today.
1525779774957.png

Exited at 39,772.
Loss=39967 - 39,772 = 195
Looking at the entry, stochastic was actually bearish. Divergent signal.
I was impatient and presumed the chart would hit the MBB.
 
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newtrader101

Well-Known Member
#7
In future, I am holding only Gold petal overnight (Renko Gold Trading Experiment).
As about other commodities like Silver and Crude they are volatile and highly leveraged, so decided to trade them only intraday. Leaving overnight positions in them is risky. Will consider holding overnight once my risk margin increases.

Entered long in Silver at 40,245.00 as Silver seems to have resumed uptrend.
 
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newtrader101

Well-Known Member
#8
Unfortunately I hadn't taken it in NRML. So got auto-squared by system at EOD @₹40,103.00 a
Loss =40103-40245=-142
Total loss= 337+142=479
Took another position in NRML at 40125 after that as I felt the upmove would resume soon.
 

newtrader101

Well-Known Member
#9
I needn't have bought yesterday. It moved down further and upmove resumed at 1:30 pm. only.
LESSON: If retracement has started late at night, wait for main trend to resume before entering. Otherwise you'll miss profits.
Now am planning to stay in the trade till Renko chart
  • forms a lower high on 15 min. OR
  • bounces down off UBB or MBB with bearish stochastic crossover
 
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newtrader101

Well-Known Member
#10
Note: These trades are not based purely on Renko. I do go back to candles and volume from time to time to check if retracements will become reversals etc.
 

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