GDX - as you know, the daily GDX renko
system went short last week on the 19th.
GDX - regarding the 60 min timing version
i.e. waiting for %K Stochastic to get overbought first on the 60
min before taking the short on the daily.
Today you could argue that %K got a hair above 80%, but it's
really close, see my second chart where I circle the Stochastic.
I'll leave it up to you to do what you want, you could wait to
see if %K gets nicely above 80% before taking the short, or you can
use this one. Really it's hard to say. If Stochastics
get's overbought again tomorrow, I'll send another email
either way, it would be at better prices than the daily chart,
which shorted on the 19th at $52.15, currently GDX is trading at
about $53
in order to see the difference between the daily system and 60
min statistics, I've attached a table, which I've shown before
regardless if the current GDX Renko system trade works
out or not, at least the 60 min timing version got a better price
than the daily chart! The daily short is now flat, while the
60 min version is up 1.6%.
Here's a table of the Stats comparing the Daily Renko signals vs
the 60 min. The yellow highlighted cells where the 60 min
timing version produced better results, which has been most of the
time, not always.
regardless of how the trade does, here's the updated statistics
for the 60 min version assuming that today it would have taken the
trade even though 14 length Stochastic only got a hair overbought.
As you can see the loss from the last trade is only -1.9% vs
-3.1% on the daily. I've also highlighted other trades that
were better in yellow.
If the %K gets overbought tomorrow, I'll send out another email
as that should be an even better signal
Just an idea to share. I know some people are trading
these signals in different ways. Maybe if you took half on
the Renko signal, I personally might hold off and not follow this
signal and see if we get more overbought, but if you didn't take
half on the Daily Renko signal then maybe you could take half now
on this close call since your getting a better price and then wait
out the 2nd half but now you have skin in the game. Just a
thought, do as you prefer.
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GDX Renko system and 60 min chart system comments
Posted by matt on 23rd of Jan 2012 at 03:35 pm
GDX - as you know, the daily GDX renko system went short last week on the 19th.
GDX - regarding the 60 min timing version i.e. waiting for %K Stochastic to get overbought first on the 60 min before taking the short on the daily.
Today you could argue that %K got a hair above 80%, but it's really close, see my second chart where I circle the Stochastic.
I'll leave it up to you to do what you want, you could wait to see if %K gets nicely above 80% before taking the short, or you can use this one. Really it's hard to say. If Stochastics get's overbought again tomorrow, I'll send another email
either way, it would be at better prices than the daily chart, which shorted on the 19th at $52.15, currently GDX is trading at about $53
in order to see the difference between the daily system and 60 min statistics, I've attached a table, which I've shown before
regardless if the current GDX Renko system
Posted by matt on 24th of Jan 2012 at 12:44 pm
regardless if the current GDX Renko system trade works out or not, at least the 60 min timing version got a better price than the daily chart! The daily short is now flat, while the 60 min version is up 1.6%.
Here's a table of the Stats comparing the Daily Renko signals vs the 60 min. The yellow highlighted cells where the 60 min timing version produced better results, which has been most of the time, not always.
regardless of how the trade
Posted by matt on 23rd of Jan 2012 at 09:25 pm
regardless of how the trade does, here's the updated statistics for the 60 min version assuming that today it would have taken the trade even though 14 length Stochastic only got a hair overbought. As you can see the loss from the last trade is only -1.9% vs -3.1% on the daily. I've also highlighted other trades that were better in yellow.
If the %K gets overbought tomorrow, I'll send out another email as that should be an even better signal
Thanks, Matt.
Posted by frtaylor on 23rd of Jan 2012 at 10:21 pm
Thanks, Matt.
Just an idea to share.
Posted by tom on 23rd of Jan 2012 at 03:42 pm
Just an idea to share. I know some people are trading these signals in different ways. Maybe if you took half on the Renko signal, I personally might hold off and not follow this signal and see if we get more overbought, but if you didn't take half on the Daily Renko signal then maybe you could take half now on this close call since your getting a better price and then wait out the 2nd half but now you have skin in the game. Just a thought, do as you prefer.