September 17, 2021

Forex channel trading Renko System

We are happy to introduce the Renko Channel trading system on the portal. Reality is that most
people are looking for a simple trading system which requires little effort, but trading is not like that.

It requires years of experience to be a consistently profitable trader

The renko channel is not exactly a holy grail, but it does allow beginner traders to earn a decent
profit while learning to master their long term trade. This trading system takes into account the fact
that not all of us affords to allocate 100% of our time trading forex.

Renko Channel trading system will display multiple trends and momentum based indicators. Using
the trend and indicators the system will come up with a strategy that monitors the trend very close,
and it will produce trading signals based on the direction of the trend.

This system is perfect for new traders that are looking to put little effort in their trading, because it
does not only identify trade opportunities, it also suggest zones for profit taking and stop loss for
each entry.

Mid and advanced traders can also apply this trading system, that’s because it works on all time
frames and currency pairs. Think of it this way, what if you are a trader that uses 8 different currency pairs to take trades, and you have to identify stops on all trading currencies. Wouldn’t it be nice to have a trading system that simplifies your work for you?

The Forex Channel Trading method was developed as an easy to learn yet effective discretionary trading system. You can use it in Renko chart or without it. This is a “mechanical” based method with a clear set of rules for qualified trade entries. This training manual will cover the basic criteria needed to identify a properly qualified trade entry.

One of the primary rules of the FCT System is the need for price to trade into or through the red or blue channel zones. Once price trades into the upper red channel zone, or the lower blue channel zone, you are then eligible to start tracking for a trade entry signal. The upper red channel zone and above can be called the sell zone, and the lower blue channel zone and below can be called the buy zone. Price trading into one of the channel zones, or outside of the channel zones, sets up the initial qualification to for a possible trade signal.

As for price trades into or through the channel zones we have our next requirement before we can have a valid trade entry signal. The FCT system requires a green candle close to a LONG trade signal and a red candle close for a SHORT trade signal.

For a BUY trade entry, from the blue channel zone or below, we must have a green candle close to triggering a trade signal. For a SELL trade entry, from the red channel zone or above, we must have a red candle close to triggering a trade signal. Once this basic criterion is met, for a BUY or SELL trade set up, then you can look at the lower indicators for final signal confirmation.

 

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