MC 9+ auto trade settings for renko bricks causes multiple buys  [SOLVED]

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quantum777
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MC 9+ auto trade settings for renko bricks causes multiple buys

Postby quantum777 » 13 Apr 2017

MC 9+ auto trade settings for renko bricks causes multiple buys in a short period of time.

Lucky it was a IB paper trade account and not my real IB cash account as the multiple trades maxed out the 500k real quick (1min)!

I have used renko as the back tests provide superior profits, settings .01 percent, 1 day resolution. Day order setting.

YET when I activate the auto-trade mode I get within 1min approx. 50+- buy orders (odes of joy :-)

I am getting real frustrated. Any ideas would be helpful. Jeff

gpw797
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Re: MC 9+ auto trade settings for renko bricks causes multiple buys

Postby gpw797 » 13 Apr 2017

I have an EA that rules are set on the opening and closing of renko bricks and it enters trades when it shouldn't as well. It tests and optimizes correctly but when going live it places incorrect trades

quantum777
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Re: MC 9+ auto trade settings for renko bricks causes multiple buys

Postby quantum777 » 13 Apr 2017

I have requested for more then a year to have a training video for auto-trade setup. I hear they are working on it, yahoo.
Its sad that this problemof multiple trade buy buy buy buy happens when using renko. I am sure it is some mystery setting somewhere that I have missed.
Renko produces SUPERIOR PROFITS.
I am pretty frustrated !!!!!!!!!!!!!!!!!!!!! :-(
Tech support helps but is basically go read MC wikipedia again. I am more of a visual learner (like most creative people :-) ha ha
Maybe if I offer to pay them for help I will get someplace? Its a thought. I wonder how much they would charge me to setup renko auto-daytrade.
I receive great support from ToS but they only have a semi-manual auto-trade system unless I subscribe to Prodigio which does not use.
renko.
I bought MC to do portfolio trading of 150 stocks and etf's and had visions of sugar plums after I retired from Intel Corp. However I am still fighting the mc systems steep learning curve. I thought TOS was hard but have now mastered it.
---gpw979, I will try and get this sorted out and give you an answer. Jeff

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TJ
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Re: MC 9+ auto trade settings for renko bricks causes multiple buys

Postby TJ » 13 Apr 2017

MC 9+ auto trade settings for renko bricks causes multiple buys in a short period of time.

Lucky it was a IB paper trade account and not my real IB cash account as the multiple trades maxed out the 500k real quick (1min)!

I have used renko as the back tests provide superior profits, settings .01 percent, 1 day resolution. Day order setting.

YET when I activate the auto-trade mode I get within 1min approx. 50+- buy orders (odes of joy :-)

I am getting real frustrated. Any ideas would be helpful. Jeff

Renko, by definition, is an EOB charting method.

You have to use BARSTATUS=2 when coding a strategy.

If you use IOG, you are doing it wrong.






If you need help, please give all the specifics, including
1. symbol
2. codes
3. charts specifics (box size, close basis or H/L basis, etc)
4. print outs with notes
5. description of specific errors

quantum777
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Re: MC 9+ auto trade settings for renko bricks causes multiple buys

Postby quantum777 » 14 Apr 2017

Thank you TJ, unfortunately the signal that I use is a paid for/protected code signal. One that I purchased after much research.
It works supremely well on Candles, Heikin Ashi, OHLC Bars.

However on symbols SSO and also SDS (the inverse of SSO) using:
Renko (box size 0.01 fixed price, 1 day resolution, close, phantom bars checked, sessions set to default, and auto-trading set to broker IB TIF (time in force) set to OIC (?)
I get with renko vastly superior profits in back test but when running live trades in my IB paper (not my cash account). I end up with vast amounts of signal buy orders within 1-2 minutes.
I do not have problems with Candles, Heikin Ashi, OHLC Bars using 1 day resolution BUT profits are 40-60% less then renko bricks.
Jeff

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TJ
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Re: MC 9+ auto trade settings for renko bricks causes multiple buys

Postby TJ » 14 Apr 2017

Thank you TJ, unfortunately the signal that I use is a paid for/protected code signal. One that I purchased after much research.
It works supremely well on Candles, Heikin Ashi, OHLC Bars.

However on symbols SSO and also SDS (the inverse of SSO) using:
Renko (box size 0.01 fixed price, 1 day resolution, close, phantom bars checked, sessions set to default, and auto-trading set to broker IB TIF (time in force) set to OIC (?)
I get with renko vastly superior profits in back test but when running live trades in my IB paper (not my cash account). I end up with vast amounts of signal buy orders within 1-2 minutes.
I do not have problems with Candles, Heikin Ashi, OHLC Bars using 1 day resolution BUT profits are 40-60% less then renko bricks.
Jeff

Forget about using this strategy with Renko bar.

If the strategy is not written for Renko, it is not for Renko.

Please read my previous post again... and understand what I said.

Did your vendor say that the strategy works consistently profitably with Renko?
Did he give you a set of vouched test results?

Do you have a logic diagram of this strategy?
If you do not have problems with Candles, Heikin Ashi, OHLC Bars,
and they worked supremely well for you,
then why don't you enjoy those profits?


Forget about the superior paper profits.
We have all been there.
Backtest is not real; it is an approximation.
If you want good backtest results, you have to first understand the backtest mechanics -- if the backtest is NOT a tick-by-tick playback, it will never duplicate real world results. If you do not have the source code, then the only reliable test you can do is a real time test.

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Re: MC 9+ auto trade settings for renko bricks causes multiple buys  [SOLVED]

Postby quantum777 » 14 Apr 2017

TJ, thank you for your replies back to me.
I will take your suggestion and use heikin ashi.
At the same time I will try to find and pay someone to program a script for my MC that auto-trades using renko.
I think that I have had too high of expectations and forgot how bad the learning curve was on TOS when I purchased MC.
If you know of someone that programs for a reasonable price a buy sell script for renko on MC please reply back.
I can give them the logic as it is fairly simple using the close off of each renko brick. Jeff


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