How To Build a Forex RenkoTrading Strategy to Yield 40 Pips Every Day - forex trading practice account

How To Build a Forex RenkoTrading Strategy to Yield 40 Pips Every Day ~ forex trading practice account

As traders, we all want to have a positive cash flow, we all want to make enough money to pay for our time and work, here is a Forex Renko Trading Strategy that will help to reach that goal.

What we need is a consistent strategy, a time frame in which we are going to be at the screen to do our trading and the discipline to stick at it until we succeed.

We have to know, also, that we can not get every move in the market place. It is folly to chase every move or every trend. We can only get the moves that our strategy will point out.

I have a Forex Renko Trading Strategy method to help us to achieve a reasonable amount of profits daily.

I will lay it out in simple form, hopefully so that people can understand it and see the simplicity and be able to execute successfully.

For this exercise we will be using Metatrader 4 and setting up some Renko charts.

I will briefly cover how to get the Renko charts built.

First we will open one minute charts for several currency pairs, the majors, to start with. Of course you have your personal preferences as to which pairs you like and feel free to choose. In addition to those, open a one minute chart for the Dax index.

On to each of those charts place the EA Renko 3.4 and set the bar size to 10 pips, except for the DAX which could be about 50 pips.

This action will build an offline chart for each of those instruments, open those and shrink the one minute charts.

Now, on the M2 offline charts. for each one you are going to want to change each to a line chart and go into the properties for each chart and change the line  to have no color...

Now add the Heiken Ashi bars to each chart. and now we have our work charts almost set up. You will have 5 or 8 charts ready to go.

The next step is to get the indicators on the chart, the ones we are going to use to detect our entries.

Configure your chart the same as the chart in this post, the CCI SlingShot;

You need the two CCI in the same lower chart. Have a look at that post and be sure to grasp that simple method.

Do the same for all of your offline charts, perhaps make a template after the first one and apply that template to all the rest..

I think you are seeing how this system is really simple.. We are going to trade slingshots, they happen frequently and they are so easy to spot on a chart.

Now that we have the charts set up, one more thing to do.

Have a look at this post and review the 200 Trendline Break entry.  Study this one carefully.

Get used to spotting this one as it is the entry that will help you with  finding a trend change.

So far, you have a trend change entry and also a continuation move entry.... in other words, when something is moving, you can capture every part of the move, and if you are careful and disciplined you are going to do very well on each move on each pair.

One more thing we have to study before we have this concept.

Have a look at this post about CCI Divergence. Study the diagram and learn to mark this divergence both long and short. This is the warning for a pending trend change in many cases.

Now you have two patterns to enter with and a divergence tool. and nice clean charts.

You can shrink the charts down a bit and probably can watch  quite a few charts ion this way.

While the title of this article mentions 40 pips every day, I know from personal experience that this setup will give you a lot more than 40, especially if you are watching the DAX.

I am not sure if there is a simpler trading system than this, certainly the trades show themselves clearly and you have the indicator to give you precise entries.

I caution you against adding much to the charts, perhaps a 50 moving average, other than that leave the chart clean. 

Chart clutter causes confusion and will help to make mistakes.

Please be sure to use a stop loss with every entry, that is most important!

Enjoy!


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How to Build Your Career in this Competitive World See Some Career Building Tips - free forex trading classes online

How to Build Your Career in this Competitive World See Some Career Building Tips ~ free forex trading classes online

5 Rules You Must Follow to Get Ahead in Your Career

Many of the job seekers—and even employees—I talk to are stuck in their careers right now. Why? They’re playing an old set of rules. They are struggling to find jobs or to get ahead in their current ones because they haven’t noticed that the economy and global workforce have changed, and they haven’t adapted.

Corporations want to do more with fewer resources. They are looking for entrepreneurial-minded workers who can move business forward. They are looking for the best talent at the lowest price, which means job seekers and employees alike are competing with professionals from all over the world.
These days, just doing your job isn’t enough—you have to constantly expand your role, learn new skills, and grow your network if you want to stay relevant. Regardless of your current occupation, the following five rules will help you survive and thrive in this new world of work.

1. Always Be Open to New Opportunities
A decade ago, you could graduate from college and have a secure job for life. But these days, you could get laid off on a moment’s notice, your team could be outsourced, or your company merged or acquired.
That means, you always need to be looking for new opportunities (as well as building a strong online presence so that you’ll attract them, too). This is not to say that you should be job-hopping all the time—my rule of thumb is to stay in one role for at least a year, unless you’re presented with an opportunity you can’t refuse. But a new Careerbuilder study shows that 74% of workers are either actively searching for a new job or open to a new opportunity. If you want to get ahead in your career, don’t close yourself off.

2. Have a Consulting Mindset
We’re living in what I call “ROI Nation” right now, where companies aren’t willing to take risks hiring people. They want to be 100% confident they are hiring someone who can get the job done flawlessly and add value to the company.
So if you’re a job-seeker, you need to prove your worth, and the best way to do this is to act like a consultant. Instead of just applying for a job, make a presentation on how you can add more value to the company. Come with a case study to show that you’ve improved sales of your last client or company by 50% or that you helped increase efficiencies that led to a decrease of costs by 70%. If your salary is $40,000, then deliver $70,000 worth of value to justify it. Don’t just tell a company that you’ll add value—show it.

3. Be Able to Change and Adapt
Be prepared for your job situation to change constantly. I know so many people who were finance or marketing majors in college and who now have a completely different career. Even if you’re certain of your career path, you could find yourself with a new manager and need to adapt to his or her leadership style on short notice. Or, if you own a company, you might find your business model changes over time based on demand and on how your customers are using your products and services.
You can best position yourself for these changes by understanding your core strengths and gaining skills that can be used across various business functions and roles. Being able to roll with the punches will be key to your long-term success.

4. Learn the Skills of Today and Tomorrow
This next rule is emphasized in a recent New York Times article: Workers are working nonstop to stay relevant in their careers. And you should be, too. Read the WSJ or other major newspapers, and get a sense of what the market is looking for. Then, “skill up” accordingly.
There are many ways to acquire new skills, whether you prefer online training modules, YouTube educational videos, open source courses (such as MIT’s), books, or finding expert mentors online. It’s also important to read up on industry news daily, so you’re aware of relevant events and can sound intelligent in meetings and in job interviews.

5. Surround Yourself with the Right People
You need to build a strong network for several reasons. First, if you’re around the right people, you will become smarter and more confident about your career. Second, if you get laid off, you’ll have a network to help guide you to new opportunities—finding a job by submitting a resume doesn’t usually work because you’re just one resume in a stack of thousands. Your network can help you cut through the clutter and get noticed.
Finally, you appear to be more valuable when you’re around other ambitious and intelligent people. Surround yourself with people who will build you and your career up, not bring you down.

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