Calling all scalpers!!!

drtro

Active member
216 21
The problem with renko is you can not see the wicks. Believe it or not the candles with any sort of wick is very important in scalping. What you call "noise" is your message to take a position. Why? It means limit orders are being activated and you see 10-20 pips before you see a retouch of the starting breakout price. Thus the name "breakout" meaning the only constant the market has is in a breakout one price sets off a rush towards another specific price. Understanding wicks, and how they play a roll in burst trading is the "need to know", and when a person calls it "noise" then that person is ignorant to the conditions in which the market works in. How does a person get a 1:200 reward growth, no one ever expects to hit it, but when it happens one should take notice to it. The market runs in loops. #AttackTheLoop

I switched to 233 tick Heiken Ashi. Scalping higher lows long and lower highs short. Goal is 6 points a day
 

leemo

Member
57 6
The problem with renko is you can not see the wicks. Believe it or not the candles with any sort of wick is very important in scalping. What you call "noise" is your message to take a position. Why? It means limit orders are being activated and you see 10-20 pips before you see a retouch of the starting breakout price. Thus the name "breakout" meaning the only constant the market has is in a breakout one price sets off a rush towards another specific price. Understanding wicks, and how they play a roll in burst trading is the "need to know", and when a person calls it "noise" then that person is ignorant to the conditions in which the market works in. How does a person get a 1:200 reward growth, no one ever expects to hit it, but when it happens one should take notice to it. The market runs in loops. #AttackTheLoop
I trade off Renko bars which include the wick (Ninjatrader). Like you, I see the wicks as important. I believe there are MT4 indicators for Renko + wick

What do you mean by attack the loop?
 
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watsone

Member
71 7
The renko expert advisor i use in Metatrader has the option to show wicks as below
 

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jamezz34

Active member
104 2
Another James here....Been scalping the Treasuries for some years now, don't however have the edge I used to have but thats the same for the equities guys too.

If you have a book by Bob Volman, please burn it....it's not scalping, whether you make any money from it or not
 

Flows

Junior member
12 0
I don't understand how you can scalp currencies effectively, especially with all the OTC and interbank rigging that goes on in those markets.

Personally I scalp futures through pure order book methods and only stay in a trade a maximum of 2-3 minutes, sometimes seconds. This works out well when you realise the potential arbitrage opportunities between the European and US equity indicies
 

NVP

Legendary member
37,785 2,109
I don't understand how you can scalp currencies effectively, especially with all the OTC and interbank rigging that goes on in those markets.
Personally I scalp futures through pure order book methods and only stay in a trade a maximum of 2-3 minutes, sometimes seconds. This works out well when you realise the potential arbitrage opportunities between the European and US equity indicies

Interesting discussion

In scalping forex I am always assuming that there's a little fluff in the price both ways.......always to catch out the fast movers by the big players.....so as part of any system I advocate allowing a little slippage / wiggle room on the price levels you see .......save s a lot of painful whip losses
 

quickturtle

Newbie
3 0
I don't understand how you can scalp currencies effectively, especially with all the OTC and interbank rigging that goes on in those markets.

Personally I scalp futures through pure order book methods and only stay in a trade a maximum of 2-3 minutes, sometimes seconds. This works out well when you realise the potential arbitrage opportunities between the European and US equity indicies

Yeah, futures are awesome..... I use renko for CL, NQ and ES.....
 

NVP

Legendary member
37,785 2,109
Renko systems have merit at times .... and I was lucky enough to work with a seriously good renko trader earlier this year ...Jees I learnt a lot


I would suggest OVO as a software provider if you want to buy robust and reliable renko indicators .....it’s about 30 dollars I think for lifetime ownership of each renko chart

I also suggest looking at mean renko systems that incorporate wicks ....

N
 
 
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