BROKER/MT4 QUESTIONS
Q: Do I have to use MT4 with Renko?
A: Yes! It’s designed to work with MT4. The good news is that MT4 is free with many brokers. Such as ETX, IGindex, FXCM and FX Pro –
Q: Which Broker do you recommend? Can I use my existing Broker with Renko?
A: Although Jason has used ETX for the examples this will work with any broker that provides access to MT4 as part of their service (and preferably you need an account where you can get a demo so you can practise too!)
Q: Do I need a live data feed? If so what will be monthly cost?
A: This all works off MT4 so there is no need for a paid feed as long as you get MT4 through your broker.
GENERAL WEBSITE QUESTIONS
Q: My Renko Videos won’t play on my browser/ there is no sound on the videos?
A: You can try a couple of things to resolve this. First of all, clear your browser cache: There are some helpful tutorials on how to do that here: http://www.refreshyourcache.com/en/home/
If that doesn’t work try a a different browser, such as Firefox, Chrome. Microsoft Explorer seems to be the one with most issues regarding its settings.
SOFTWARE AND TROUBLESHOOTING
IMPORTANT: If the answer isn’t below please ensure you watch the troubleshooting video – it should have everything you need to get set up. View it here: https://renkofxgold.co.uk/renko-tutorial-videos/ (make sure you are logged into the website first)
Q: I am still waiting for my activation key
A: there is no activation key. You register your account and an automatic email is sent to confirm when this has been done. If you don’t receive your confirmation email please do check your spam/junk mail and if it still doesn’t arrive contact support. Here is the link: (you must be logged into the website first) https://renkofxgold.co.uk/register-your-account/
Q: I would like to change the MT4 account registered – how can I do that please?
A: send us your new account number and email address registered from the contacts page on the website.
Q: Can I use Renko on My Mac?
A: As we stated on our promotion, we don’t support Renko FX Trader when installed on a Mac. If you don’t have a PC and would still like to try it you can test using it with the following but this is really only worth doing if you are confident with setting up software:
Parallels from Parallels IP Holdings. This is 3rd party software which has associated costs. This is currently the most popular option for FXCM Mac users. It’s more flexible than Boot Camp because you can run both Windows and Mac OS at the same time, easily bouncing back and forth between programs on both operating systems.
VMWare from VMware Inc. This is the main competitor to Parallels and the feature set is similar.
Boot Camp from Apple. It comes preinstalled on newer Mac computers and the end-user only needs to purchase a copy of Windows. This is the least expensive option but also the least flexible since you can only run one of either Mac OS or Windows OS at any given time; they won’t run simultaneously.
Q: How do I get a licence number and where do I insert it?
A: The licence is attached to the account number of the MT4 account you wish to use. (Not the brokers account number. Register it on the website at the link below.
You must be logged into the website to use the link. https://renkofxgold.co.uk/register-your-account/
Q: Am I able to load the software onto more then one account?
A: The licence will only work on one trading account – which ever you have registered. If you wish to purchase a second license please contact us.
The same licence may be used on different computers BUT only on one MT4 account number. So you can run on your PC and Laptop as long as you are using the same MT4 account number.
Q. Will the software work on more than one computer?
A: As long as you use the same broker account number yes. If you wish to use more than one MT4 account please contact support to purchase a second license.
Generally you will use your licence for a demo account first then change over to a live trading account. Contact us via the website with your new account number and the email address its registerd under.
Q: How do I clear the Renko software off the charts?
A:
1. Right click on the chart
2. In the drop down menu look for Indicators list
3. Click on that a menu opens showing all indicators on the chart. Select the Renko v100 and delete it
4. Close window
If you want to delete the whole charts just close the M1 and M2 charts and they will be deleted.
Q: I have a very old PC will the software work?
A: Ideally you need windows 7 and above. A computer with enough speed as in an i3, i5, i7 with a good size memory.
If the charts run slow, it’s probably because your PC is being overloaded. MT4 takes a lot of your computers CPU time.
Q: What with the mobile or email alerts, does that mean connecting your PC indicator to your phone or connecting it to the global system from yourself?
A: The Phone alerts are generated from an app that is installed on your phone. Either an android or iphone has an app and is worked from in the MT4 platform itself.
The set up procedure is in the manual pages 82-84. Or the video Manual part 1, you must be logged into the website to use the link:
https://renkofxgold.co.uk/renko-tutorial-videos/
GENERAL TRADING QUESTIONS
Q: What level of start bank do I need?
A: First of all DO NOT TRADE WITH REAL MONEY until you have got confident using Renko FX Trader. Always start with a demo account unless you are an experienced trader. However once you are comfortable a good level to start is with a £500 start bank (though you could get away with £250) and scaling up.
Brokers like FXCM and FXPro will allow trades as low as 10p / pip. If you are using IG after a short period of time you will see its minimum rise to a £1 / pip (at the time of writing).
Keep your % bank on any one trade to a risk no more than 5% of your bank in total.
Ideally aim for 2-3% of your bank, it will take you slightly longer compound but is a lot safer.
Q: Does this work purely on Forex or can it in any way be adapted to binaries?
A: No forex only – but that still gives you plenty to play with! There are lots of pairs for you to choose from. Advanced additions to the are planned and can be used on indices, metals etc etc .also a strategy to trade binaries as well.
Q: Does your computer have to be left switched on all day for this to work?
A: No you do not have to be connected all day to work… BUT if the system is not running you will not get alerts.
Q: Will Renko FX Trader fit in with those of us who work 9 to 5?
A: Yes indeed, you can get alerts 24 hrs a day if you want and on a number of currencies too.
Q: Can I use this method to trade from other countries as well as the UK?
A: All that prevents you is your internet connection and if you can legally trade from the country you are in. The markets are open 24 hrs a day 5 days a week all around the world :-))
Q: Are there any pairs you might recommend?
A: For the first 30 days please do watch my daily alerts as I will let you know the pairs I am using.
Q: I can only see a certain amount of weeks of historic data on the 1 min chart.
A: This will depend on how much back data your broker can provide. It will not stop the system generating alerts . Though the analyser will give inconsistent results. Brokers such as FXPro and FXCM are known to give at least 60 days’ worth of data
Q: Can Renko FX be used as a set-and-forget system? The trade is set up and it either wins or loses? – thus enabling the user to move onto the next trade/alert?
A: It can be set and forget… Till the next alert turns up on your mobile
Q: How long does the ‘average’ trade take to run its course?
A: A tricky one as there are so many variables to consider. A trade can run from minutes to hours to days (in the extreme). However the average small trade is approx 20 mins but could run to hrs in slow markets or wanting a high risk/reward result.
Q: Where do I find the daily video analysis?
A: You get this free for 30 days. I will send you an email each day as I release a new video. Alternatively click on the link below to view the latest: (remember you must be logged in to the website for the links to work) https://renkofxgold.co.uk/renko-alert-and-analysis
TROUBLESHOOTING
Q: My charts are freezing and not creating new bricks.
A: Please close the MT4 platform and reopen again. Make sure your MT4 platform says connected bottom right corner of the screen Also, see earlier answer about your internet speed and the capacity of your PC,
Q: Are signal alerts able to be received via email and smart phone?
A: Yes the alerts are email and iphone friendly see an earlier answer and the manual pages 82-84
Q: It’s not allowing me to install Renko. The button is grayed out
A: Close ALL running MT4 platforms and try again. If the button is still greyed out the there is a MT4 platform running in the background somewhere.