Hi Folks.

Have you ever enjoyed that experience unique to trading where you are in a winning trade that is just getting started, then see price reverse on you and start heading the wrong way?

You exit the trade to protect your small profits, only to see price reverse yet again and head off in the direction of your former trade.

And unless you re-enter the trade at a worse entry price, you get to sit there with your 5 pips in profit and watch price move to +100 or +200 or whatever, all without you being on board?

It’s a common problem most traders deal with pretty much every day.

And the solutions we use to try and protect ourselves never seem to work out in our favor (letting price move two boxes, three boxes, even four boxes against us before exiting; using a PSAR; using moving average crossovers, and a whole file folder full of other indicator options that never seem to work when we need them to.)

In fact, when these “temporary” reversals happen early on in the trade, unless we exit on the close of the first opposite color box or candle, we likely will end up moving from profit into loss before we hit the eject button on the trade.

This is the primary reason we get out of trades too soon.

These quick and early price moves against our entry have trained us to get out and keep what meager profits we can.

After all, no one ever went broke taking profit.

But at the same time, no one ever got rich on a steady diet of 1 or 2 five pip winners each day.

So how do we know when the price reversals are serious and we should get out, or if the reversals are just head-fakes and we need to take a deep breath and hang on for another minute or two?

One solution is an old product made new again recently by my friend WarTono, a young man who is as obsessed with Renko trading as I myself.

A few weekends back I was doing some testing with some older indicators I’ve accumulated over the years (and yes, this is usually how I spend my weekends after the market closes on Friday).

I ran across something WarTono sent me years ago called Renko Maker Pro.  It was a fairly simple trading system and when I put it through its paces, it held up okay, but honestly, it just wasn’t all that exciting, and it had a couple of strikes against it that caused me to pass on recommending it to anyone.

The big issue was that the Confirmation indicator included in the package repainted.  Not a lot, but a large number of traders treat a repainting indicator like a zombie vampire: they turn and run and never look back.

But when I was watching it in action (I put it on a Bitcoin Renko chart with a box size of 1000 [$10.00} which plotted out multiple buys and sells during any given minute) I noticed that while the indicator repainted, the initial signal it gave off was actually quite valid, and the repaint really only skewed things a bit if you went back and visually backtested.

But trading live, the entries more often than not lined up with my PV2 Deluxe entries (the PV2, Renko-Stoch and Renko-SignalAM indicators).

But what really stood out was that on trades where price was setting up for a long trend run in one direction, the Confirmation indicator stuck with the trade while all the other indicators were turning and running the other way.  Price would reverse three, four, even five boxes and all the PV2 Deluxe indicators were screaming “opposite direction signal”.  But the Confirmation stayed with the original trade direction.

And within a minute or two, price reversed, moved back in the direction of the original trade and soon after started painting additional boxes in my favor, which means additional profit.

I put it on the US30 that Sunday afternoon and was happily surprised to see I got the same results I was getting when I ran it on the Bitcoin chart.

In fact, it seems to work well pretty much all the time, although the 9:30 a.m. eastern time open of the actual Dow Jones Market is still just choppy enough it’s not a lot of help for the first 30 minutes or so.

But the rest of the day, it can and will keep you in trades that you used to close out early, before the trade had the chance to find its momentum and start making strong price moves in your favor.

However, again, let me point out that the Confirmation indicator will repaint, and this includes displaying an opposite direction signal that disappears when price immediately moves back in the original direction.  It seems to take two to three additional boxes after a signal appears to lock the signal into place so you can find it when you go back on the charts to study the trades.

For some people this is a deal breaker.  I understand that.

But if you are someone who has reached that point in your trading that you can deal with minor disappointments as long as you can get some major benefits (like staying in trades that end up posting 100+ point gains) then it’s worth it to you to take a look at the Renko Maker Pro package offered by WarTono.

The entire package itself (including the Signal and Trend indicators) is, as I mentioned earlier, a decent trading method on its own, and it is currently priced at $49, so that makes it very affordable.

Take a look at it here:  Renko Maker Pro

And if you have any questions, send them to me at jeffglenellis@gmail.com and I’ll get an answer back out to you as soon as I can.

Jeff