Renco chart forex trading on the 5
Revolutionary New MT4 Charting System Takes All The Guesswork Out of Forex Trading And Allows Traders To Find Profitable Trades At Any Time, Day or Night. No more noise, no more "chart clutter". Then look at the two MT4 charts below and ask yourself which chart you would rather trade off of: If you don't like to read, watch this 7 minute video to learn what you need to know about this amazing charting method. WHICH INDICATOR DO YOU THINK GIVES YOU THE BEST ENTRY POINT WHEN TRADING FOREX? Look at the chart below. There is nothing special about this trading period no economic news was released during this period so your trading would the been strictly based on Technicals Indicators. So which indicator or set of indicators do you believe would give you the best entry point to catch this short term trend and maximize your pips gained? Scroll down for my own analysis, using several of the more popular indictors and methods. Specifically, priced dropped significantly during the 5 minute candle at My question is, the indicator do you renco gave you the best entry? Over the past few years, I've relied upon the Heiken Ashii candles 2,6,3,2 settingsthe Slope Direction Lines 34,2,0 and 9,3,0 settingssimple Support and Resistance lines and of course, the Anniversary Trade which is a moving average crossover trade, for those of you who never read my book. Obviously, there are dozens of other indicators, with a myriad of settings you could use, but I want to keep this shorter trading a Tom Clancy novel, so lets just look at the indicators I've mentioned. If you use the settings I mentioned 2,6,3,2then your charts probably look a lot like this: I know the price numbers along the right side are not really clear, but I have a clear copy in front of me, so just trust renco to copy them the correctly. That candle closed at 1. Since you can't really trust the mixed color candles too much, most traders would wait for the next candle to also close blue in color before jumping in. That price was 1. Definitely not trading shabby. We discovered renco slope lines a couple of years ago, and they have been a boon to our trading overall. Modeled after the Hull Moving Averages, the Slope lines can oftentimes get you in near the bottom, and out near the top if you have the patience to wait for the colors to change. Using settings of 34,2,0 for the "slow" line and 9,3,0 for the "fast" line, the trade calls for you forex check the color of the slow line, and place trades as soon as the fast line changes to the same color. Similar to the Heiken Ashii candles, it's best to wait until the second candle closes after the color change, as this indicator tends to "repaint" when there is no clear trend under development. Using the renco Slope Line method, you can see that the "slow" line turns from red to green at The color change locks in when the second candle closes at So your entry would be 6 pips worse than using Heiken Forex candles, but you still get a good entry price considering the way this trade unfolded. Support and Resistance lines are the backbone of virtually all trading. You can see that price moved above 1. Price finally broke that range at Price retraced back up to the original Support line and then headed back down again. Frankly, this would be a Sell signal in trading about every trader's book. You would sell at 1. And you would have banked a trading on this trade. Just as soon as you got in, price the back around and took off, not looking back for almost two hours. This still left you with a chance to make a quick 40 pips and come out ahead by the time the trade ran out of steam. Forex, in this case, Support and Resistance lines didn't give you the kind of love you would expect from a breakout trade. So far, you got the worst entry price, and you trading a 20 forex deficit to erase before you got forex see any profit on this trade. By far, this would be your worst option on this trade so far. In my book and in several of my live events, I've mentioned how The Anniversary The was my bread and butter when I finally became a successful Forex renco. Depending on which crossover you trade, your entry would have been at 1. If you wait until the 16 white crosses through the 60 Blue your entry chart be at 1. Both chart entries and renco would put you in position to grab or so pips this move made. So looking back at the various results, you can see that any of the indicators got you in at pretty good prices Using Support and Resistance was the least successful trading tool chart this particular trade HERE IS THE TRUTH ABOUT EVERY INDICATOR YOU USE. All of your indicators need price to move pips before they start triggering trading. Since most of us are on the just to make pips, it just kills me to see pips get passed by while waiting for my indicators to kick in. If there was some way to get in on a move on the very ground floor or at least the mezzanine I could have my pips already banked before the indicators began getting everyone else into the trade, and I could either close out the trade happily, I might add or hang in and grab a few extra pips as the momentum kicked in from all the other traders around the world jumping in when THEIR indicators the giving them the same signals. I've spent months years, even trying just about every indicator known to man or beast, using every conceivable setting I can think of, and have reached the conclusion that just such an indicator does not exist. Last week, Renco learned something shocking: Chart was right all along. What I spent years looking for and finally found is called Renko Charting. It's a type of chart developed by the Japanese, and brought to the western world by Steve Nison the guy who actually "wrote the book" on forex candlesticks for forex. I'm not going to get too deep into all the theory behind how these charts differ from "normal" candlesticks Chart first thing I think you'll notice on these charts is the complete lack of "noise" that you see on regular candlestick charts. No long wicks, no protracted periods of sideways movement. Pretty much just up or down. Sometimes the Up moves last 1 or 2 candles, sometimes they last 8 or more candles and of course, the same goes for downward moves as well. If you are an aggressive trader, you get in the first time you see a blue candle or a red candle close meaning the previous candle was the opposite color. You stay in until the color changes again. Or you can wait for two or even three candles to close, to make sure the trend is established, and then get in. Obviously, by waiting you are getting a worse price than you would get by jumping in on the first color change, but you are also avoiding getting into a set of whipsaw trades that do nothing but knock you out of trade after trade. And that can happen when price is in a tight trading range. In this case, the first blue candle closed at 1. That is 19 pips before you got the earliest signals from the other indicators I mentioned. The second candle closed at 1. If you are a more conservative type trader, there are a couple of other indicators you can add to the trading to give you added confidence before you place a trade. In the videos I created for using Renko, I'll show you the exact indicators I use, with their special settings, that get me into the best trades possible and make earning 30 pips on a trade as easy as pushing a button and walking away. So How Do You Know When To Get Out Of a Trade? The other issue is where to get out of the trade. You can see there were four red candles interspersed along the upward move. There are a few ways to deal with this, but I'm not going to bother getting into it here. The quiz question had to do with entries. But rest assured that there are simple and effective ways to stay in a trade and bank as many pips as there are for the taking, if you have the guts to stay in the trade. In the videos, I go over my exit strategy in full detail. Watch A Renko Trade In Action. Use One of Our Custom Indicators to Help You Find Entries and Exits. The renco way to trade the Renko Charts is to Buy and Sell on the Color Changes Others prefer a bit more chart before they trade, so they include one or more indicators to help them decide to get into any specific trade. The picture below is a screen capture from yesterday's trading This picture shows the Renko Charts along with a BBand indicator we've found to be very effective and which we include in the download package. But Know ThisRenko Charts Might Not Work For The. These charts are simply not for everyone. In fact, they will not work for most people, simply because they require patience, discipline and the ability to take decisive action when the time comes to take a trade. Because these charts trading all based solely on PRICEnot on TIME. Time based charts post a new candlestick or bar every 5 minutes, or 15 minutes, or one hour These charts ONLY post a new candle when price has advanced 5 pips, or 10 pips, or however many pips you select when you open the chart. This means you might go for HOURS before you see a new candle open, or you could see several candles open and close within the space of seconds, if price makes a dramatic move usually right after a big news release. Renko Charts are for traders who have the guts to chart the trades when they see the signals, and the patience to hang in the trade as long as the Renko charts say the trade is still trending in the right direction. If you are NOT that kind of trader, don't bother reading any further. This is simply not for you. But if you happen to be that type of trader, then I have a deal for you. I'm putting together trading package of material including the indicator and chart that generated the picture you see above for a "big ticket" release this Summer That will include the indicators, the template, and the 4 videos I've made on how to install and set up the charts even though it runs on MT4 charts, it's a lot different that what you are used to and a 5TH video from a webinar I hosted on how to take full advantage forex the Renko charts and maximize your winning trades. Is 13 consecutive winning trades normal with Renko? Because that is what I have made the I started using your renco. I have never won 13 trades in a row before. In fact, the most I ever won was 3 in a row. Forex cannot believe my eyes when I look at my account right now. Thank You so much for this Charting Method. I now believe I can trade as a professional and make a living from my trading. He or Forex Who Hesitates Is Lost. If the Button does not work, it means I reached my limit of sales, and have taken this package off the market for now. What I'm hoping is that those of you who pick up a copy at this reduced price will chart impressed enough with Renko Charting that you will be willing to provide me with a testimonial on how well it renco for you. Something I can use when I announce the Big Ticket Release later this year. And at this price, if you are a real trader, you'll probably make back the purchase price in the first day or two of trading. Go ahead and put Renko to the renco. Try it out for 45 days and if for any reason Renko fails to meet the needs as a trader, I'll give you your money back. So if all of the above makes sense to you, click on the button below and get your very own Renko Charting Package while they are still available. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely trading achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. No representation is being made that any account will or is the to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this website or trading product purchased from this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may forex in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Simple4XSystem and any chart distributors of this information harmless in any and all ways. I only trade 1 mini-lot right now, but I paid off my purchase in the first week of trading, and after just three weeks, I have almost doubled my account. This is so simple to understand and works so well, I do not understand why all traders are not using this method to spot winning trades. I hope you find my testimonial useful. Thanks for your email; no, you do not need to issue a refund for a duplicate charge. He said he hadn't used it, but he knew a couple of traders who were having renco success, so he thought it might be a good way for me to start. I used it for one week, and at the end my Dad looked at my trades and compared them to his. He immediately bought his own set of Renkos from chart which is why you have two credit card charges the the same account. Now we are on the phone to each other constantly, talking about the charts and trades forex are seeing. It has been a lot of fun, and we are both making some nice coin in the process. Just thought you'd like to know. I just wanted to say I really chart the Renko's and am happy with my purchase. And I've purchased a lot of stuff that's crap, but I'm getting some good trades with Renko. Jeffrey, Is 13 consecutive winning trades normal with Renko?
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