Which Price to use
by PRASHANT SHAH -
There is a practical issue with regard to trading patterns — and breakouts occurring at the end of the day — on closing price basis. This is an issue common to all kinds of charts, not just Renko. A bar or candle gets locked at end of the day but a candle pattern seen during ... Read more
High-Low Renko Charts
by PRASHANT SHAH -
It must be obvious by now that Renko charts can be plotted with only one price. Charts plotted with closing prices will generate patterns based on the closing price of the chosen time interval. The high-low method of plotting considers either the high, or the low, price made during the day, as follows: If the ... Read more
Pattern Based Trading
by PRASHANT SHAH -
Renko patterns that we have discussed can help us in analyzing various markets and instruments. A trading approach can also be developed using these patterns. This is known as pattern based trading. Thus, you can take a trade based on a bullish pattern and exit when a bearish formation is formed, or take a short ... Read more
Process Oriented Trading
by PRASHANT SHAH -
All great and successful traders stress on the importance of process, rules and discipline. Consistent success is achieved by defining the processes. I believe Renko charts can help you to a great extent in this regard because of their simplicity, the objective price patterns they throw up, and the possibility of creating objective trading systems ... Read more
How to start
by PRASHANT SHAH -
How to Start Trading with Renko Charts In the book we have discussed many methods which I hope have familiarized you with Renko charts and the different possibilities of trading them. How does one start? I followed a comprehensive approach because all types of traders should be able to pick what suits them. Some people ... Read more
Trading Stories
by PRASHANT SHAH -
Real-Life Trading Stories Let me conclude by sharing with the stories of two real-life traders who have had a great impact on me. Story 1 In 2005, I used to work in a broking firm and my job included opening demat accounts for clients. I opened an account for a North Indian client settled in ... Read more
