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You Are Here: Home > Articles > Commentary > Discovery, exploration, adventure, odyssey & quest

Discovery, exploration, adventure, odyssey & quest
Jun 28, 2009

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All Allan

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Yesterday Lasertrader posted the following comment to my last post:

Now getting back in theme in this Bear Cave, although I use the SPX as a proxy to the market i am interested that this DOW Renko chart went on sell for the first time since the March low:
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&st=2008-12-15&id=p29271801842&a=171181543
and I know how Allan likes mechanical system..check out this GDX Gold Miner 60 minute Renko chart. It went long a couple of days ago and has been an extremely good mechanical trade
http://premium.fileden.com/premium/2006/9/9/209573/gdxrenko2306.png"
An astute observation by Lasertrader, Allan is drawn to mechanical systems, objective rule-based strategies and maybe something Lasertrader didn't know, Allan reads and considers every Comment to his posts, whether or not he responds to it (publicly or privately) or not.
Here is the Renko Dow chart:

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Here is the Renko GDX chart:

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I've never traded Renko charts, although I from time to time take a look since they are included in most technical analysis platforms as well as at Stockcharts.com.
Below is a Renko chart of the SPX, along with Blue Wave's Trend Model, StopsCCI:
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Following is a table of the trades shown on this above chart:
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As you can see, 341 S&P points in a little over 60 days. Those results are way too good to be true. But while I try to find out why, I submit this exercise as an example of how a trader spends his free time, spends his weekends, trying to hone his skills, learn new techniques and follow-up on ideas, wherever they may come from.
So thanks to Lasertrader for killing another Saturday for me, but this is not work; it is a discovery, an exploration, adventure, odyssey and quest.
and


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