Publisher's Synopsis
Renko charts are a unique, highly powerful tool in Technical Analysis and trading from Japan that is little understood and until the recent advancement in charting technology little used. Now they are one of the fastest growing chart types but still very little is known about them and how to use them effectively to get that trading edge!
Renko charts are ideal for creating a simpler, disciplined, systematic, automated, risk based approach to your trading. Renko charts will also help sort out the emotion and 'bad' psychology' in your trading!
Combine Renko chart types with 'Western' Technical Analysis tools and you start to create powerful trading strategies. Renko charts are so simple once you get to understand them that they become ripe to move into the algorithmic trading world.
Author Stephen Hoad draws on his 30 years of global trading experience and as a leading technical analyst specialist in the field of Japanese charting and his skills and knowledge of systematic and algorithmic trading to bring Renko charts firmly into the 21st century!
In this unique guide to Renko chart trading Hoad takes you through these key elements:
- Learn why you should be using Renko charts now!
- The history, philosophy, theory, and basics of Renko charting and trading.
- Understand the practicalities of using Renko charts - software, strategy, new techniques and how Renko charts fit into today's modern Technical Analysis and trading world.
- Presents a new way of using 'time' and 'volume' in Renko charts!
- Introduces you to the concept of the samurai trading mindset and gets you thinking like a Renko trader. In the process helping you develop your trading psychology and discipline.
- Learn how to combine Japanese Renko charts with Western Technical Analysis tools and indicators to create and build your own powerful trading strategies. Discover new ways of using Renko charts you didn't know existed that capture all types of trading strategy approach e.g. trend, scalping, swing, break outs.
- Use these methods to help build trade and risk management concepts into your trading.
- Utilise concepts such as game theory, statistical and quantitative techniques into your Renko chart trading approach.
- Discover how to build a systematic approach to your trading by using Renko charts.
- Learn how to automate Renko charts through programming e.g. Python.
The book is filled with countless practical examples, tips and help to let you build on your newfound knowledge of Renko charts and trading. It is a book suitable for all abilities but more importantly is for anyone looking to get an edge in their trading and investing by learning an innovative approach by using Japanese Renko charts.
