Daytrading With the Amazing Noise Free Renko Scalper
Monday, April 29th 2024 Is there an alternative for binary options to easily and quickly scalp the forex markets?
Yours Truly Trader Ed here again. To tell you the truth, I’ve been racking my brains to try and come up with something different and lucrative to trade with. I’ve been noticing the noise lately that the markets are giving due to (the best I can do to describe it is) crazy volatility. This is what made me think about renko. I used to trade it in 2008 and 2009 when we were experiencing similar noise in the currency markets due to the crash of 2008.
The reason it stabilizes your platform for trading will jump right out at you by checking out the 2 charts immediately below this paragraph. The candle chart is a volatile mess, but then on the other hand, the next chart displays how each renko brick has an assigned amount of pips. In this case, for Renko Scalping, we are using an offline M2 chart and 5 pip renko bricks. This gives us a much smoother performance than timed candles or bars. Renko has nothing to do with tiime and volume. It generates trades completely on price action. Which would you rather daytrade and scalp the markets with? I think it goes without saying, eh? Oops sorry, there goes my Canuck background again. (ha,ha)
These Regular Candlesticks on an M2 Offline Chart?
Or These 5 Pip Renko Bricks on an M2 Offline Chart?
(There ain’t no contest. Renko is 100% cleaner and more stable to trade on)
Now, to answer my own question at the top in blue text, it’s a great big YES. Renko forex scalping is easy (with the proper instruction and a great semi-auto system), less risky and in most cases, more profitable than binaries. For you guys that are tired of the “same old, same old” and for my US traders that are having trouble due to the lack of binary brokers available to us, I’m sure by the time you finish reading this page you will agree that this new renko scalper is not only a God sent but it will knock your socks off once you start trading it. And before I get accused of rambling on, I want to show you a pic that I just took of what the system did today on the GBP/USD. So without further ado, let’s take a look at it and I will explain what it’s all about below the pic.
The Cable Versus The US Dollar About 7am Until 1:30am PST
I’m showing you 5 trades covering about 1 hour before to 2 hours after each of the major market openings, ie: New York, Tokyo and London. There are trades at other times, as you can see, there was a good buy trade worth 90 pips following my #2 trade but it took place more than 1/2 way through the Tokyo. Most of us do not want to stare at the charts for hours and hours on end so all you need to do is check out your charts for a couple of hours near the opening of the market or markets that are most convenient for you.
There is an audible/text box alert before every probable trade generated but I prefer to spend a couple of primetime hours with my charts on a daily bases when it is possible. You can see a couple of places where the short trend line going through the renko bricks is double colored, here is an example of what I am talking about……………..
Where you see the 2 white arrows, you would not take those trades no matter what the confirming indicators show. You would also stay in a trade until the first brick after the double colored line which will confirm whether to stay in or close out the trade that you’re in. This will keep you out of many trades that would just waste your time and possibly even cost you a few pips loss or keep you in a trade for possibly more profit.
Another thing for you to keep in check is the greed factor which has been the downfall of so many currency traders. Set a daily goal for yourself whether it be 30 pips total profit per day or maybe 50 or even 100 pips. This kind of goal setting will keep your emotional trading in line.
Anyhow moving on and to put it all in perspective, you are looking at 300 pips profit in less than 24 hours and trading a standard forex contract, a total profit of $3000. Not too shabby for a long days work, right? Just think 50 to 100 pips profit per trading day (approximately 20 in a month) translates into $10K to 20K monthly. Also the mental stop/loss of 10 to 15 pips didn’t even come close. What an awesome risk/profit ratio! How many $100. risks have you taken in binaries to win only $75. or lose the whole $100. I know I have taken a whole lot of them. Anyhow on to a USD versus the Looney chart.
Here Are Some Trades on The USD/CAD Pair
Here we have the first trade right at the opening bell of the London. It was a great example trade to explain. Look at the first yellow arrow. I stayed in because we had the double colored trend. The next 2 yellow arrows, I still stayed in because I was up 120 pips ($1200) so at that point I was prepared to give up $300. to try and stick it out. If the next brick was red again, I would have jumped out with 90 pips ($900. profit) But it turned out to be blue so I stayed in until the next reverse for 195 pips ($1950.) If you were extra cautious, you could have closed out at that 2nd yellow arrow and then jumped in again for 2 trades with close to the same total profit. In any trade, when I get 2 opposite colored bricks and the 3rd one opens against me also, I close out, (all the time)
The next 2 trades, #2 and #3 were small scalpers at the opening of the N.Y. These little 3 brick scalpers are not too shabby. You usually get out with about 12 pips ($120. profit)
Trades #4 and #5 were a couple of good ones that came about during the first 3 hours of the New York. In order, they were a $750. profit and a $1050. profit trades respectively. Something to note is if you look closely, there were 2 red bricks during the #4 buy and 2 blue bricks during #5 sell. But all of them came up with a double colored trend line attached so we just let it ride until the next reverse. That’s it for the usd/cad chart.
Here is a double pic of usd/cad and gbpusd during the same period of time (1 hour before to about 1 hour after) the opening of one of the London sessions. This is just a little sample of what this renko system can generate in a short 2 hour time period. If this doesn’t excite you and get your adrenaline moving up, I feel sorry for you. (ha,ha) Maybe try pinching yourself to see if you’re still alive!
USD/CAD and GBP/USD at The London Open (1 Hour Before to 1 Hour After)
So what more can I say? The proof is in the pudding! A total of 2 hours time (from open to close of trades), the USD/CAD produced a trade for 135 pips profit – standard contract $1350. profit and the GBP/USD produced 4 trades for a total of 144 pips of profit or $1440. Either one would have been a great couple of hours fun trading. Or for you guys that are real sharp and can handle more than 1 trade at a time (WOW! 289 pips of profit or $2890.!) I’ll be honest with you though, I very seldom have more than one trade open at a time. Call it what you will, maybe old age (heh,heh) Anyhow over a grand profit in 2 hours is not too shabby whichever way you look at it, RIGHT? O.K. guys & gals, here is the deal breaker, the grand finally so to speak. Most of us with a little experience don’t trade regular time/volume systems too much on Fridays, especially a few hours before closing of the markets for the week-end. Hey, but this is a Renko system, all price action and here is a final sample of what it can do on a good old Friday.
EUR/USD New York Open Until About 1/2 Hour Before NY Closing
I just had to show you this. It’s before the London trades above. NY opens at 5am my time. I’m a nighthawk so that’s too early for me and then I was out the rest of the day. As stated above, we are looking at a Thursday eur/usd chart, New York session. Our Renko trading system generated a total of 7 trades. There were no losers. There was a trade, #4, that only gave us 3 pips for a $30. profit and for someone slow getting in, it could have gotten as bad as a break-even. But here’s the kicker, we profited a whopping 513 pips for a standard contract profit of $5,130. YAHOO! What can I say except “Get This Baby Now!” I know for some of you guys, New York session time is great and that’s good because there are usually some awesome Renko trades during this session.
O.K., O.K., but Ed, aren’t Renko charts and systems very difficult to setup and trade? Glad you asked (heh,heh) Yes they can be, and that is why I never planned to offer one, especially now that I have promised the low price on all my future systems. But guess what? Many of you have been very faithful clients and have purchased most of my systems from me at one time or another. So not only has old Trader Ed made a Renko System for you, but keeping to my KISS values I have greatly simplified everything. My Forex Renko Tornado can be setup with a few clicks of your mouse. And each multi trade can be opened with one click and closed with one click. The User Guide will explain everything step by step and I’ve made a video for you guys that prefer your info in that form. It is just plain “Easy Peasey”
Like I said above, the first few hours of any of the major 3 sessions are good with the best usually being New York and London, but if all you can trade is the Tokyo, you will usually be able to find a couple of good trades there also. I can tell you that when I first started trading that I have puchased systems for as much as $1000. and they couldn’t even come close to the beauty and simplicity of this one. An eighty percent win ratio and higher are very achievable for anyone after a little experience! In fact, it takes some effort to actually lose a trade (ha,ha)
Even at the rediculous price displayed on the big purchase button below, I am going to give each person that purchases this system a bonus that is worth at least 6 times the price of this system.
So what are you waiting for. It’s a “no brainer” You’re probably aching to know what that bonus is, right? Well I won’t keep you in suspense. It’s a FREE 3 day, 2 night vacation hotel stay at your choice of one of 10 different Hotspots in the U.S.A. At today’s hotel prices, you’ll have to agree that this is definitely worth much more than the price of the system. After you make your Paypal payment, make sure you wait for a few seconds to be brought to the “Thank You/Download Link” page. Happy Trading and Ciao, Trader Ed
“Refund Policy: There are no refunds due to this being a digital product. If you cannot accept this policy,
do not purchase my product. By purchasing my products you are accepting my refund policy.”
Besides the bonus above, you will receive unlimited email support personally by me for as long as you are trading this system.
That is priceless, believe me!
Some Rich Guys Toys
Flying Air Boat and Shark Submarine Boat
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