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C4 Scalping

  • #61
  • Jul 11, 2009 12:00pm Jul 11, 2009 12:00pm
Quoting 45Fxguy
Has anyone noticed how easy it seems to win pips while back testing a manual system, but it is never half that easy when forward testing in real time.
Why is that? Even when I slow down the visual back test to more like normal real time feed speed. Maybe it's just a patience/disciple thing, part of becoming a good fx day trader?
And has anyone noticed how easy it is to demo trade - no emotions, no fear. That is why I am going to go live at once. With 0,1 lots at the beginning the risk is almost nothing but I will get the real feeling.
As a chess player, I think scalping is comparable to a Blitz game where quick hand is sometimes even more important than sharp mind Plus luck, of course

Attached is my template. The main difference is that I use Heiken Ashi bar instead of HA candles. Two reasons: 1) HA candles are ugly 2) I want to see the shape of real candles.
Attached File(s)
File Type: tpl c4scalp_indrek.tpl   4 KB | 2,147 downloads
File Type: mq4 Heiken Ashi_SWAlert.mq4   5 KB | 2,135 downloads
  • #62
  • Edited 1:05pm Jul 11, 2009 12:23pm | Edited 1:05pm
Quoting flyingdawg
Pardon my bluntness, or even rudeness, but you people who seem compelled to come onto any new thread and criticize it from the very beginning, could you just all just shut up for at least one week, demo trade the system, and then, and only then, if the system truly doesn't work as claimed, come on back in here and rip it to shreds. But damn, at least give it a chance. And that's all I've got to say about that.
I am very proud to say that I am one of Edge's "success stories". When I first "met" Edge, I had no idea what I was doing. I made ALL (and I mean ALL) the newbie mistakes. And I made them over and over again. I didn't even LEARN from my mistakes.

Then Edge patiently and consistently showed me what I was doing wrong. How simple it all actually is once you see through all the crap that 99% of all the threads on this forum throw on the charts. He says in the first post you don't need a PhD! Mine was probably an active hinderance. Talk about over-analysis!!

I started on the higher timeframes so I could make decisions slowly, then moved down to the faster action. Although this is an M5 thread, I am taking the liberty of attaching a few charts at H4, D1 and even W1 to show that this system works perfectly on all timeframes. Just measure the ATR and adjust goals accordingly. I take 8-15 pips on M5 up to 30-50 pips on H1. That is a testament to the purity of its conception. I still trade on a variety of timeframes. All with this simple system. I attach my latest results from Mon and Tue last week (Wed I went away on a business trip so out of action at the moment ).

The final piece of the jigsaw for me was learning Edge's "less is more" philosophy. Every newbie (and 99% of threads on FF) are concerned with making PIPS. Edge is concerned with making MONEY.

If you can make 10 pips with 80% probability, or 100 pips with 55% probability, which will you choose? I always wanted the 100 pips. But that is a fools game.

100 pips x 0.1 lot = £100. 10 pips x 1 lot = 100. The pippage is irrelevant!! So obvious in hindsight......

So spurious arguments over what constitutes scalping etc etc have no place here. People pays thousands of dollars to go on courses where you won't learn a fraction of what you will learn from Edge.

And he is doing it for free!! Don't you dare bite the hand that feeds you!!

Dr Anne Boleyn, PhD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj-h4.jpg Size: 93 KB
Click to Enlarge Name: gj-d1.jpg Size: 85 KB
Click to Enlarge Name: gj-w1.jpg Size: 77 KB
Click to Enlarge Name: mon.jpg Size: 60 KB
Click to Enlarge Name: tue.jpg Size: 119 KB
  • #63
  • Jul 11, 2009 1:19pm Jul 11, 2009 1:19pm
Hey, My backgound colour is better than yours so leave it alone :-)


Quoting 4xStar
Me too! Forward testing only

Attached is another template for those who prefer white bg and I combined the MA Color Ventana with the Trix to save window space.
Download the indicators from the first page & this template should work.
Double check the input values.
  • #64
  • Jul 11, 2009 1:45pm Jul 11, 2009 1:45pm
Quoting Indrek
And has anyone noticed how easy it is to demo trade - no emotions, no fear. That is why I am going to go live at once. With 0,1 lots at the beginning the risk is almost nothing but I will get the real feeling.
As a chess player, I think scalping is comparable to a Blitz game where quick hand is sometimes even more important than sharp mind Plus luck, of course

Attached is my template. The main difference is that I use Heiken Ashi bar instead of HA candles. Two reasons: 1) HA candles are ugly 2) I want to see the shape of real candles....
Great chess analogy Indrek
I like chess too, should take more time off from Fx and teach my daughters more about the game though. I've been at the forex-tsd & now FF fx boot camp for the last 4 months sometimes putting in 14 to even 24 hr days, but going to try just trading now just during the London/US overlap, like Edge does.
I've collected probably over a 1k plus indicators and EAs and been trying to learn how to best use them all, separate &/or together, proper settings time frames, pairs, etc. Think I'm hooked on Fx for life, wish I'd found FX about 12 years ago, or whenever the retail market 1st opened up. I think I'd be a lot better off right now. Anyway thanks for posting your template etc, it is nice-n-clean and easy on the eyes as well.
  • #65
  • Jul 11, 2009 1:55pm Jul 11, 2009 1:55pm
Quoting TudorGirl
I am very proud to say that I am one of Edge's "success stories". When I first "met" Edge, I had no idea what I was doing. I made ALL (and I mean ALL) the newbie mistakes. And I made them over and over again. I didn't even LEARN from my mistakes.

Then Edge patiently and consistently showed me what I was doing wrong. How simple it all actually is once you see through all the crap that 99% of all the threads on this forum throw on the charts....
Let me be the 1st to ask you, your latest super-girl-trix-indi allows you to scalp off the 4hr and 1day charts?
  • #66
  • Jul 11, 2009 1:59pm Jul 11, 2009 1:59pm
Quoting Edgetrader
My personal monetary goals are modest. I seek only enough trades to allow me to reach +2/-4% to account balance daily. My personal preference is to trade multiple lots and garnish a modest amount of pips, usually around 30 or so daily. I do everything possible to identify high probability trading setups and diminish market exposure.
That's pretty modest. Only 2% - 4% a day?

Since you're a full time trader, if thats the modest case then with a $7500 account, in a year you should be making...

+2% Daily

=7500(1.02)^250
=$1 059 507.91

+3% Daily

=7500(1.03)^250
=$12 144 158.86

+4% Daily

=7500(1.04)^250
=$135 955 283.00

Edge if you keeping going at that rate (2% a day), then you'll be the richest man on the planet in just a short 807 working days. Thats just above 3 years and around 60 Billion Dollars.

...............................................................................................
I apologize for my sarcasm but numbers don't lie. What are your realistic expectations, because its safe to say that 2% - 4% a day isn't even CLOSE to realistic.
  • #67
  • Jul 11, 2009 2:04pm Jul 11, 2009 2:04pm
Quoting Ace284
That's pretty modest. Only 2% - 4% a day?

Since you're a full time trader, if thats the modest case then with a $7500 account, in a year you should be making...

+2% Daily

=7500(1.02)^250
=$1 059 507.91

+3% Daily

=7500(1.03)^250
=$12 144 158.86

+4% Daily

=7500(1.04)^250
=$135 955 283.00

Edge if you keeping going at that rate (3% a day), then you'll be the richest man on the planet in just a short 807 working days. Thats just above 3 years and around 60 Billion Dollars.

...............................................................................................
I...
That is, if he has a good broker that doesn't find some way to rip him off.
  • #68
  • Jul 11, 2009 2:05pm Jul 11, 2009 2:05pm
Quoting 45Fxguy
Let me be the 1st to ask you, your latest super-girl-trix-indi allows you to scalp off the 4hr and 1day charts?
No doubt some will tell me that "scalping" 100 pips off a Daily chart is not scalping!! Who cares?

The only point I am making is that Edge's setup works from M1 to MN1.

Please be aware that the Trix indicator from MQ4 doesn't actually implement the Triple Exponential ("Trix") algorithm as invented by the legendary Robert Goodall Brown, the "Father of Time Series Analysis". It contains several bugs. Every derivative of the indy up to and including Swingman's smTrix (when he converted the line indy to a histogram) hasn't spotted the error.

TG SuperTrix implements the original algorithm as described in Brown's classic 1962 text (I am looking at a First Edition on my bookshelf as I write). But it probably doesn't matter - the difference is quite small. Just that the original indy is based on very sound mathematics and triggers a bit earlier -- on M5 that might be 2 pips but on H4 it might be 100 pips...

Anne
  • #69
  • Jul 11, 2009 2:09pm Jul 11, 2009 2:09pm
Quoting Ace284
That's pretty modest. Only 2% - 4% a day?
...............................................................................................
I apologize for my sarcasm but numbers don't lie. What are your realistic expectations, because its safe to say that 2% - 4% a day isn't even CLOSE to realistic.
My understanding is it is positive 2% or a loss (hence the minus sign) of 4% (Reading comprehension is fun!). And of course you must allow for regular withdrawal of profits to, you know, live. All these "you would be the richest man on earth in only a few short years!!???!!!" statements are wholly naive and ignorant and don't take into account losing days which are inevitable.

Why must you be so damn nit picky?
  • #70
  • Jul 11, 2009 2:23pm Jul 11, 2009 2:23pm
Is it too much to ask to wait a few trading days for the hecklers to descend and save us?
  • #71
  • Jul 11, 2009 2:30pm Jul 11, 2009 2:30pm
Quoting MIA_Austrian
My understanding is it is positive 2% or a loss (hence the minus sign) of 4% (Reading comprehension is fun!). And of course you must allow for regular withdrawal of profits to, you know, live. All these "you would be the richest man on earth in only a few short years!!???!!!" statements are wholly naive and ignorant and don't take into account losing days which are inevitable.

Why must you be so damn nit picky?
Id rather be nit picky instead of simply entering bliss mode like an average person who starts reading the thread. Tell me whats better, a bunch of people simply thanking Edge for his strategy, and what seems to be an above average level of vocabulary? Or questioning?

Let me tell you a little story about a thread called EUR/GBP Trendmagic system. Once Tudor Girl hit the scene, so many people entered that bliss mode that I was talking about earlier and thanked her right off the bat. Then what felt like an eternity later which was actually about 2 weeks. People started slaming the system to the ground because at the start, all they read about was everyone thanking everyone for the amazing system.

When a thread gets long, newbies read the first few pages, and the last few. I'd rather question the system now, and get some things straight, before thanking anyone. Don't get me wrong, just because im not thanking doesn't mean I don't respect. I respect Edge for the initiative that he's taken, but that doesn't mean I won't ask questions.

And then there's a bunch of people getting irritated because my posts are somewhat on the negative side. Why would it be a problem, if you can simply disprove everything im saying?

Some may say im being an a$$, because they can't handle some putdowns of the system. Who cares, if you don't agree with me than call me on it, with a good arguement.
  • #72
  • Jul 11, 2009 2:35pm Jul 11, 2009 2:35pm
Quoting TudorGirl
No doubt some will tell me that "scalping" 100 pips off a Daily chart is not scalping!! Who cares?

The only point I am making is that Edge's setup works from M1 to MN1.

Please be aware that the Trix indicator from MQ4 doesn't actually implement the Triple Exponential ("Trix") algorithm as invented by the legendary Robert Goodall Brown, the "Father of Time Series Analysis". It contains several bugs. Every derivative of the indy up to and including Swingman's smTrix (when he converted the line indy to a histogram) hasn't spotted the error....
Hi Anne!!
How can I contact you in private? Your profile doesn't have Private Messaging...
I would send you the code af an EA that i've created with this system...but something doesn't work in it (if i add ATR) ...maybe you can fix it..
Market is like a puzzle, YOU have to fit the pieces!!
  • #73
  • Edited 2:51pm Jul 11, 2009 2:39pm | Edited 2:51pm
Quoting Ace284
Id rather be nit picky instead of simply entering bliss mode like an average person who starts reading the thread. Tell me whats better, a bunch of people simply thanking Edge for his strategy, and what seems to be an above average level of vocabulary? Or questioning?

Let me tell you a little story about a thread called EUR/GBP Trendmagic system. Once Tudor Girl hit the scene, so many people entered that bliss mode that I was talking about earlier and thanked her right off the bat. Then what felt like an eternity later which was actually about...
I have a sceptical mind, too. But in this case... I think we should try the system and see if it works. The best way to get answers to the questions is to trade.
There is always the possibility to read Kama Sutra and to argue if some position described in the book works. And there is another possibility just to have sex. Two different approaches, two different levels of satisfaction
  • #74
  • Jul 11, 2009 2:52pm Jul 11, 2009 2:52pm
Quoting MIA_Austrian
My understanding is it is positive 2% or a loss (hence the minus sign) of 4% (Reading comprehension is fun!).
Reading comprehension is fun especially if the sentence right after states that his preference is to USUALLY take 30 pips or so DAILY. Last I heard, taking 30 pips total profit, won't leave you with a negative balance. Also im pretty sure that the ( - ) can stand for a minus sign, or act as a bridge from one number to another. ( $70 - $100)

But who knows...
  • #75
  • Jul 11, 2009 2:53pm Jul 11, 2009 2:53pm
Another good analogy Indrek,!
  • #76
  • Jul 11, 2009 2:55pm Jul 11, 2009 2:55pm
Quoting TudorGirl
No doubt some will tell me that "scalping" 100 pips off a Daily chart is not scalping!! Who cares?

The only point I am making is that Edge's setup works from M1 to MN1.

Please be aware that the Trix indicator from MQ4 doesn't actually implement the Triple Exponential ("Trix") algorithm as invented by the legendary Robert Goodall Brown, the "Father of Time Series Analysis". It contains several bugs. Every derivative of the indy up to and including Swingman's smTrix (when he converted the line indy to a histogram) hasn't spotted the error....
Hi Anne,
Would You please post that fixed TRIX indicator? I currently use it so it would be an importatnt thing for me and for others in this thread. Thanks in advance!
  • #77
  • Jul 11, 2009 3:04pm Jul 11, 2009 3:04pm
hi edge,

u mentioned in paulus's thread that you're considering starting your own thread. now u started 1 n i must say it's impressive. it's really simplicity at work. now it's up 2 the individual trader 2 make a success out of it.

what worries me is whether this thread will boom or doom like all the other good threads. will it veer off course in a matter of weeks??

will b sticking around. trade well.
  • #78
  • Edited 3:30pm Jul 11, 2009 3:06pm | Edited 3:30pm
Quoting Ace284
That's pretty modest. Only 2% - 4% a day?

Since you're a full time trader, if thats the modest case then with a $7500 account, in a year you should be making...

+2% Daily

=7500(1.02)^250
=$1 059 507.91

+3% Daily

=7500(1.03)^250
=$12 144 158.86

+4% Daily

=7500(1.04)^250
=$135 955 283.00

Edge if you keeping going at that rate (2% a day), then you'll be the richest man on the planet in just a short 807 working days. Thats just above 3 years and around 60 Billion Dollars.

...............................................................................................
I...
..."numbers don't lie" so try this: 2%x15days and compound it monthly. 7500*1.3^6=36201.07/year (it's 6 because I assume he pays himself a half of his monthly trading income) so monthly average is 3016.8 and it seems quite realistic to me. Your approach makes me wonder.
  • #79
  • Jul 11, 2009 3:07pm Jul 11, 2009 3:07pm
Hi Folks

Please let me explain something:

My comment about scalping in relation to a 5M TF wasn’t meant negative, it’s just that the word scalping stands for ultra short term trades, aiming for few pips with relative high pip value.

If someone wants to call an eagle a goose it’s ok for me, but it’s not true.

What speaks for the word scalping in this thread name is the low pip quantity (10) which Edge is aiming for, but not the TF.

So, at the end call the child like you want, I’ll be lurking from the back corner.

Congrats for the thread and system Edge
  • #80
  • Jul 11, 2009 3:20pm Jul 11, 2009 3:20pm
Quoting Indrek
I have a sceptical mind, too. But in this case... I think we should try the system and see if it works. The best way to get answers to the questions is to trade.
There is always the possibility to read Kama Sutra and to argue if some position described in the book works. And there is another possibility just to have sex. Two different approaches, two different levels of satisfaction
Brilliant!!
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