Saturday, 18 May 2013

Renko Ashi Trading System 2

Renko Ashi Trading System 2
By Mr. Tedd
This trading system is based on utilization of the Non Time-frame based
analysis called the RenkoChart. In the Renko Chart time is not of concern
or time is not what causes separation of one bar/candle to another, the
emphasis is on the price and the movements in pips. Like a 10pip
renkochart will display candles that are 10pips big and what separates
one candle from another is 10pips of movement. Hence using a renko
chart the noise of time-frame based chart are removed and it shows you
the chart based on the movement of the market in pips. Time-frame is
one easy way of losing money in Forex because if you are using a GMT
Broker the candles look different, if you are using a GMT+2 broker
candles look different and if you use a GMT+3 broker it looks different. So
basically it’s the best way of losing money because indicator reading looks
different from broker to broker,candles look different from broker to
broker. As forex traders we only need to be concerned of one thing that is
the PRICE, because that’s what we are dealing with, Price is what makes
people want to buy or want to sell. Change of price is what is the deciding
factor between Earning and losing. When the price of a currency is low it
gets into supply/demand, when the price of a currency is high it gets into
selling from buyers for a profit. So we just need to be concerned with
Price and with Pips in Forex.