Renko Silver Trading Experiment

[newtrader101]

Newtrader101, what are your parameters for stochastics ?

It is 5,3,3.
Period 5


There are a few concerns,TP.

• Cant manage risk in overnight positions.
• Investing.com is not consistent in Renko brick size choice. Now it is showing 75. In between it showed 281. Which is not beautiful (hardly 4-5 bricks in each move). Earlier screenshot you can see it was 29. So I've settled for manual at 50.
• The price move sometimes happens suddenly, nobody knows when. If it is not trailed, we lose the profit. The only free price alert available is their own email service. But it comes late, around 15-30 mins.
• Does Sharekan have Commodity price SMS alerts also? (they have for equity)

Anyway, decided to give it a try for atleast one month.

 

[timepass]

It is 5,3,3.
Period 5


There are a few concerns,TP.

• Cant manage risk in overnight positions.
• Investing.com is not consistent in Renko brick size choice. Now it is showing 75. In between it showed 281. Which is not beautiful (hardly 4-5 bricks in each move). Earlier screenshot you can see it was 29. So I've settled for manual at 50.
• The price move sometimes happens suddenly, nobody knows when. If it is not trailed, we lose the profit. The only free price alert available is their own email service. But it comes late, around 15-30 mins.
• Does Sharekan have Commodity price SMS alerts also? (they have for equity)

Anyway, decided to give it a try for atleast one month.

You can define the brick size in Kite. See if that works better.

 

[newtrader101]

You can define the brick size in Kite. See if that works better.

Fact is that Kite hangs a lot nowadays.

 

[timepass]

Fact is that Kite hangs a lot nowadays.

I see. For me, it's been working ok since last 2-3 months

Anyway, can you please post the link for crude oil in INR on investing.com ?? I am only able to get the dollar value charts, even on India version.

 

[newtrader101]

I see. For me, it's been working ok since last 2-3 months

Anyway, can you please post the link for crude oil in INR on investing.com ?? I am only able to get the dollar value charts, even on India version.

1. After opening the chart, start typing "Crude" in the box for the chart name, (the box to the left of the time frame options).
2. Then these labels will display: ALL INDICES STOCKS ETFS COMMODITIES.. (if this list disappears in between, press your space bar inside that box.)
3. Select COMMODITIES.
4. A list of Crude oil instruments will appear with the name of the exchange to the right of each.
5. Select the CRUDE OIL WTI FUTURES with MCX displayed.

 

[timepass]

1. After opening the chart, start typing "Crude" in the box for the chart name, (the box to the left of the time frame options).
2. Then these labels will display: ALL INDICES STOCKS ETFS COMMODITIES.. (if this list disappears in between, press your space bar inside that box.)
3. Select COMMODITIES.
4. A list of Crude oil instruments will appear with the name of the exchange to the right of each.
5. Select the CRUDE OIL WTI FUTURES with MCX displayed.

Thanks.

These days I am looking at Momentum indicator. Any feedback on this will be appreciated.

 

[newtrader101]

Thanks.

These days I am looking at Momentum indicator. Any feedback on this will be appreciated.

View attachment 25304

TP,
This looks good. Momentum indicator showed where stochastics was showing oversold too early...

Thanks.

 

[timepass]

Actually the stochs are also of two kinds : slow stochastics and fast stochastics. Now, that's all the info I have about it, but I think that 5,3 is fast stochastics. Maybe some more research on stochastic settings will be useful too.

 

[newtrader101]

Bought SILVERMIC18JUNFUT @ 40,544 NRML, because it exceeded the high on increasing volume, continuing the trend. Bearish volume was decreasing earlier.

View attachment 25270

View attachment 25272

Stopped out on Monday @ 40,365.00. Loss=40,544-40365= 179

Bought again 40,473.00
Exited @ 40,355 as it was falling on heavy volume. Loss=40,473-40,355 =118
Total Loss=248+179+118=545

Entered Short @ 40,355.
Actually bearish conditions were present since the morning. I continued to be bullish hoping it would turn back up. The perils of being attached to one's view..

 

[newtrader101]

Exited @ 40,175.00 as I feel it has not decided its course. Profit = 40,355 -40,175 =180
Total profit=-545+180 = -365
Need to add the expenses which come to roughly 18/- per trade.