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[JAG fx]

I believe Mark has shut up shop and is in the process of moving overseas as per a previous post, hence the shutting down of his web site.

Meridexgroup, with regards to the Bolinger Bands on the latest strategy, they were Mark's idea. I have very little knowledge on B/bands or how to use them, so I have taken them off my charts. Having said that though, I have stuck with Strategy 3 in the book (the 3 SMAs) and using these in conjunction with normal charts and a couple more basic indicators, I am having some success with little time or effort involved - which means I am only trading at certain times of the day and only taking higher probability trades. Not quite within the PF guidelines, more of a scalping method, but very effective still the same. Probably missing out on some bigger moves, but my sleep is not disturbed and I go to bed either out of all trades or with a profit lock stop or limit in place.

[forextrend]

In My Opinion It Is Not Worth It. Candles Do The Same With A Better Foresight About What The Market Is Doing Or About To Do.

Anyway Find What Works For You, It Is Your Money.

[JAG fx]

Forextrend,

You do whatever suits you and your style of trading, but I still believe Renko charts are an effective way of trading, as are candlestick pattterns or whatever. Like any trading, the individual has to find something they are comfortable with and go with that. If we all traded the same way, it would make for a very boring market.

At the end of this week, I'll go through the 4 pairs I have up on my renko charts and give a basic run down on how the strategy 3 signals would have panned out. This is quite easy to do because you don't act until a box is confirmed as formed, therefore it is simple to back trade. Obviously it is difficult to nail exact entries on very fast moving markets - none so far this week but no doubt Friday will change that with NFP due out. I'm up 123pts this week so far and that was trading live and having Wednesday off, so I'm not complaining.

[forextrend]

You are right renko and candles are both suitable for trading and i have used both(renko in the regular stock markets) but to me and my style of trading and the forex being a 24 hour market i do not think Renko will suit my style for trading forex.

As i said everybody is the master of their own Domain.

Good Luck everybody on your trades.

[JAG fx]

I have gone though the 4 pairs I trade, EUR, GBP, JPY & EUR/JPY and checked the results for this week up until the end of the Thursday US Session. Friday is always going to be flat with NFP due out later today.

I took the spread into consideration but I only traded out the one position from cross to cross instead of taking 2 positions on entry. Also I didn't take into consideration any trades that ended up breaking even, albeit they may have gone 50+ points in my favour.

Anyway JPY, with not many trades at all, ended up -9, GBP, with the most trades, ended up at +42. EUR/JPY was pretty good ending up +182 and the big one was EUR, ending up +238. So all up, you are looking at about +470pts on the 4 pairs if you managed to catch all the trades (highly unlikely unless you are working with a partner or don't need sleep), but even if you got half of these, it is still a pretty good 4 days work.

There were 72 trades, 39 losses, 13 break even and 20 wins. Biggest loss was 20pts and the biggest win was 192pts. Quite a few small losses, but they are quite small and the big winners seem to get them back pretty quickly. So that will give you an idea of what can be achieved.

[marlaust]

Hi Jagfx, thank you for your information & results. Can you tell me please, which System 3 did you use, is it the 3,20,60 m/a cross, or the last one updated with the macd & longer settings.

[JAG fx]

The 3/20/60 set up as in the book. As it turns out the NFP was not that big a deal on the renko charts and would have profited quite a bit for Friday also. Ah it's all good fun.