Renko Chart – Do you still lose Renko charts for forex trading?
Renko chart lovers heart no doubt that the Renko charts give them a better decision than other market participants when trading Forex. Early entry into the market at the start of the trend and early exit when the trend begins to collapse are two advantages for Renko Chart users for candlestick and bar chart traders. However, this does not mean that Renko chart traders never lose trades. In fact, the opposite is true
After using Renko Charts for nearly three years, I can prove that while they make my trading life easier and point me to more winning deals than I find using traditional
I have said many times in the past and will continue to repeat it as long as it is necessary: There is no such a "holy grail" method of trading, in the case of a chart trading method that I have lost in my fair trade Foreign exchange or any other place of business. Nobody wins every transaction they make.
All you can hope for is finding a way, or, like Renko Charts, a form of price expression that will give you the edge of other traders in the market. Forex trading is a zero-sum game. This means that every dollar you win in the trade, some other trader in the market lost a dollar. The trader may be a small retail dealer like the rest of us, or it may be Citibank. Who lost, trade does not matter.
The real benefit of Renko Charts is that they give you the chance to become a "person" in winning deals
But losing a transaction is a fact of life, Marketers who build their fortunes are better accustomed to the idea that there will be days of triumph and there will be a loss of trading in Forex. The key to success is to limit your losses on lost days to a few points and allow the winning deal to run as much as possible on the winning day, allowing you to maximize your points
Keep Your Loss In The lowest, when trading Renko Charts is to follow the "a bad candle and out" rule. This rule simply means that when you enter a deal, you decide that you will exit the transaction once the first opposite color candle is formed and closed. If you are trading a smaller candle / box size (any less than 8 points), you are likely to find yourself in more and more deals because the price tends to move back and forth on many occasions in the 15-point range
However, if you use a larger candle / box size (9 points or more), you will find that you end up with a lot of 40-100 points and may take several hours to develop, but you will not see one The opposite color of the candle during that time, with the price eventually moving in your direction, you can safely lock in an adjustable stop loss of the amount of profit will be increased
Loss Trading Forex is a fact Every trader in the life and foreign exchange markets must deal with them from time to time. Renko Chart traders simply do not see much of what they do as candlestick and bar chart crowds, and because of a bad candle and out-of-rule, Renko Chart traders can limit their losses to just a few points and can easily get a return The next good trade