Fine, Be That Way

I take it from the "enormous" interest in the blog these past couple of days my Canadian political ramblings are not that interesting to you.

Ok.

Trading, yes trading, that's why you're here. You may have noticed I haven't been posting trades, at least I hope you noticed. I was changing the charts over and over and it was bad for you to watch, and bad for me to trade. I seem to have settled down again.

My exceptional Irish trader friend was aghast to discover today that I am using the CCI again. And if you've ever seen an aghast Irishman, well, it's not a pretty sight. He wanted to see one of my ugly CCI charts, so here they are.

I'm not going to go into details of my trade execution but will provide the general framework.

I watch 3 charts, a five minute, 8 tic renko bar, and a 1 minute. I want to see trend on the 5 minute chart in place first, then I look for the same on the renko bar and 1 minute chart. I use the 1 minute to help find the entry but would still consider the 8 tic renko chart the main entry chart.

The rest of the details are best left unsaid, as I have said many times you can't trade someone else's plan. You can learn from others, at least I can, but you cannot trade it.

Here's a couple renko charts from today. They are winners, there were many losers, in fact more losers than winners today. The day was net positive due to the money management, which most of you know is really the only factor between wining and losing.

8 Tic DOW Renko Charts