euterpe1......yes, whipsaws are a part of the downside of renko trading. They can't be eliminated..but they can be minimized. I did have a whipsaw in August, as you mentioned.....over the years, that is only one of many..and yes, a whip reduces the profit.
I have spent a large amount of time in finding techniques to minimize the whips using renko. Of course they will still occur despite all...it's just part of the drawdown of the system. Fortunately, I have remained in the MZZ trade since early Sept, on a portion of money..and never received a box reversal signal..
The larger principle is following trends. The renko charts are simply a clear way to do that........there are other methods that have been used for years..including moving average crosses, or P&F. Both of those systems also suffer whips, as trends move back and forth.
There are advocates of many indicators and systems..perhaps as many advocates as there are traders. Renko charts work for me..but I realize they appear slow to many traders.
Good luck to all systems. regards.
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