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, this is a good question -- actually two good questions: what are renkos and do they help?
, thanks for giving your thoughts.
Whether they help is really the important question.
In order to expose the question to a larger audience, I am copying 's questions out to a new thread, so there can be more perspectives given on them. The thing is, some who have tried them decided there's nothing there, but others swear by them. A good question is, why are there such differences? And is the type of bar, or the period of a time bar, really an important issue for trading? There are differences on these as well.
Hi all.
Been lurking here for 3 months. I've been day trading for almost a year now. Picking up what I can along the way. Some great advice, some not so great. I was lucky long enough the first couple months to figure what I was doing and haven't lost any money. I started out last june with a little under $100k in my account. Today im just over 200k
This is my first and probably my last post.
I am a nubie and ignorant about much. I am still on the up side of the bell curve when learning one thing leads to two more things you know nothing about.
Im no idiot. I've been successful with pretty much whatever I've tried my hands at.
But I have to be honest, you people leave me wondering if maybe I am an idiot.
I can't read or even understand most of what's posted here. Not only is it the terminology that is used, ( tough enough if a glossary existed on the subject)
But its more than that. Its like you have your own language. Its like trying to decipher some obscure dialect of mandarin Chinese. And i swear, some of the threads it like your having a contest who can out tradereez the other with the speak.
I've read books, gone through my brokers libraries, have conversations with friends and acquaintances that i know have been successful investing their money over the years, and have had none of this.
Well, I'm not sure if this is a question, or an expression of frustration, or just trolling. But I can understand frustration about trying to understand something, so I'll reply to that.
Trading does have its own vocabulary, and futures trading is a particular field that has its particular language, which in some ways is different from other types of trading. There is also a particular context, including the exchanges and the things that are traded and how futures trading is done, that is unique to futures compared to any other type of trading, or anything else, for that matter.
Since the people who are trading here -- or who are trying to learn the various aspects of trading -- are doing futures trading, they are going to use that language and those concepts. If it all seems foreign to you, that is understandable, but it is not done just to frustrate you. The site is for traders, who are going to talk to other traders and who will assume a common world of experience.
All this can be learned. I and every other person here, and anyone who trades futures or anything else, had to learn the ropes, and had to find ways to do that. The internet has information available to people who want to understand the basics. If you have particular questions that can be answered, we can try to help.
If it just seems like Chinese, and if that's the issue, that's not specific enough to respond.
Ask some real questions. If they can be addressed, we will try. In the meantime, you really can learn all you need, or enough to ask answerable questions.
That's the deal.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I have a question for you. Why not share what you feel you have learned which allowed you to be successful in what is known to be a very difficult field? You have a chance to be the change you wish to see in the world. The traders participating in this forum are at various stages in their journeys and desire to be successful as you have been. Be one of the sources you wish to see who can explain points related to trading in a clear and educational manner and help others as you sought assistance for yourself. I am sure everyone would be most grateful.
The trader jargon takes some time getting used to. I learned the language from Al Brooks' books and video courses. My background is in computer science and mathematics, so learning new programming languages and technical stuff come pretty easy to me. Just stay disciplined and study hard and things will get easier.
Trolling no.
Frustrated, yes.
What didn't make any sense is how the language could possibly be so different than stocks.
I apologize for being an ass. I was going to just delete my account and just continue doing what's been working when big mikes 3rd request to participate came through. Thank you for not exchanging a poke for a poke.
Another question if I might...
Because the is terminology is so different,I found that not knowing the meaning to just a few words as a futures trader uses them, understanding the question let alone the answer in a conversation is a guess at best.
Is there a futures trading dictionary or glossary of terms available that you can recommend?
I couldn't find one. At would make all thedifference in the world
If you're having trouble with the jargon because it's futures and you're used to stocks... it's a different beast. I couldn't imagine trading anything else. There's no "borrowing" something to sell short. High leverage and liquidity (in many markets). It is a derivative, like options. Very abstract. You're trading an actual contract, worthless unto itself, unlike equities, so of course the jargon is different by necessity. I still get lost around Treasuries, with yield and whatnot... another totally different beast.
If you're new and have an interest in futures, I suggest starting with the exchange. CME Group has some great educational resources for free. Videos, courses... all kinds of stuff.
No need to be shy. No poking fun here (maybe if it's good-natured). It's a good group here. You will be welcomed. I only joined a couple months ago myself.