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C4 Scalping

  • #801
  • Jul 15, 2009 12:36pm Jul 15, 2009 12:36pm
I'd just like to say thanks to the Edge for this thread. I just started reading it a few days ago, finally finished and have been watching the market and playing with my charts to see what colors/indicators I'd like best. I think I've found what I'm looking for. Only thing extra I have that isn't on the first page of this thread is Pivot Points. Other than that, I love the simplicity...the rest is reading price action. Also, I have enjoyed reading the posts from a few others...like Rev and 4xStar, thanks for your input on here too.

Here's an example of what I saw on ej today...didn't trade it, still learning...but my reasons for entering are listed and each trade would have met the 10pip target. Cheers!
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  • #802
  • Jul 15, 2009 12:37pm Jul 15, 2009 12:37pm
Quoting stunna29
no
t sure
Does this help? You click on attachments, browse for the picture, then click upload and post the reply. It will show up in the body of the reply. Once you submit it.
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  • #803
  • Jul 15, 2009 12:38pm Jul 15, 2009 12:38pm
3 - I trade this method at a set period of day. That is from 1100 to 1500 GMT. PERIOD!!!! No Questions asked!! This is the ONLY time I trade the Forex market. It has historically produced volatility sufficient enough to generate PA commensurate with trading this particular strategy.
[/quote]

I have a question about this, if I am in Central Standard time, since we are under daylight savings right now that would mean we are -5 (as opposed to -6) correct? So for CST this would translate into 6:00AM-10:00AM right? Thanks!![/quote]

An easy way to do this is to go to the website forex.timezoneconverter.com, put in your timezone and trade the overlap of London/NY
  • #804
  • Jul 15, 2009 12:40pm Jul 15, 2009 12:40pm
Go to this website for global market hours.
http://www.2009.worldmarkethours.com/Forex/index.htm

D.
  • #805
  • Jul 15, 2009 12:43pm Jul 15, 2009 12:43pm
Quoting fxshadow
3 - I trade this method at a set period of day. That is from 1100 to 1500 GMT. PERIOD!!!! No Questions asked!! This is the ONLY time I trade the Forex market. It has historically produced volatility sufficient enough to generate PA commensurate with trading this particular strategy.
I have a question about this, if I am in Central Standard time, since we are under daylight savings right now that would mean we are -5 (as opposed to -6) correct? So for CST this would translate into 6:00AM-10:00AM right? Thanks!![/quote]

An easy way to do this is to go to the website forex.timezoneconverter.com, put in your timezone and trade the overlap of London/NY[/quote]

Thank you for the link! Does this mean that there is actually only a three hour overlap?
Attached Image
  • #806
  • Jul 15, 2009 12:46pm Jul 15, 2009 12:46pm
Hi folks...

Great system !!! Thanks a lot Edge...

For me, I just created a channel for Primer ie: 12WMA High and 12 WMA Low...

Bullish... prices should remain above 12WMA High
Bearish...prices should remain below 12WMA Low

No trade inside the channel.

Chart is attached... TQ
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  • #807
  • Jul 15, 2009 12:48pm Jul 15, 2009 12:48pm
Please, people, knowledge about time zones is a part of basic education. Even my 9y son knows how to count them. Should it be re-discussed here?
  • #808
  • Jul 15, 2009 12:50pm Jul 15, 2009 12:50pm
Was a good day, but was experimenting too.
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  • #809
  • Jul 15, 2009 12:53pm Jul 15, 2009 12:53pm
+10 EU. 1 Primer + 1 Detonator = +10 after hours pips.

Primer = PA moving quickly above 12lwma

Detonator = Sm Trix.

(Also used Demark lines to stay out of the chop and have better probability trade. demark removed from chart.)

revrobwimb
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  • #810
  • Jul 15, 2009 12:54pm Jul 15, 2009 12:54pm
Quoting Tw0eleven
I'd just like to say thanks to the Edge for this thread. I just started reading it a few days ago, finally finished and have been watching the market and playing with my charts to see what colors/indicators I'd like best. I think I've found what I'm looking for. Only thing extra I have that isn't on the first page of this thread is Pivot Points. Other than that, I love the simplicity...the rest is reading price action. Also, I have enjoyed reading the posts from a few others...like Rev and 4xStar, thanks for your input on here too.

Here's an example...
Nice Post.. good overall scope of things.

revrobwimb
  • #811
  • Jul 15, 2009 12:59pm Jul 15, 2009 12:59pm
Quoting Tw0eleven
Only thing extra I have that isn't on the first page of this thread is Pivot Points.
Here is an indicator for Pivots Good trading!
Attached File(s)
File Type: ex4 ###Auto Pivot2.ex4   16 KB | 563 downloads
  • #812
  • Jul 15, 2009 1:00pm Jul 15, 2009 1:00pm
TudorGirl,

This is for Anne only since she has elected not to receive further PMs so please forgive the intrusion (just trying to help a busy fellow professional).

For the busy professional, trading the Daily chart is a breeze. Just a couple of minutes each day to check each pair after NY close (5pm) each day, set any trades and then on with your life.

See post # 4122

http://www.forexfactory.com/showthread.php?t=155459&page=275
  • #813
  • Edited 1:24pm Jul 15, 2009 1:12pm | Edited 1:24pm
My EURUSD trade reached also TP now. So, 77 more pips As the trade was very long, it did not fit to the picture...
Overall result for today - 103+46+127+77=353

I took one more trade - long AUDUSD. Hope to leave it open for the night and collect profit in the morning.
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  • #814
  • Jul 15, 2009 1:19pm Jul 15, 2009 1:19pm
Here are my trades for the day.
I wasn't able to be at the one eyed monster( I guess mine is actually 2 eyed )for the entire session, due to work constraints.

Missed some opportunities... both good and bad



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  • #815
  • Jul 15, 2009 1:45pm Jul 15, 2009 1:45pm
Quoting 45Fxguy
Indrek,
& I thought I was having a good day, I didn't even quite get to half that many pips.
Can you post the signal bars your using top right of your carts?
This is a product of TRO - www.kreslik.com (http://www.kreslik.com). He has insisted not to post his codes in other forums, although his indicators are available for free. But I think it is OK if I post .ex4 here.
Attached File(s)
File Type: ex4 TRO_Multi_Meter_CandleColor.ex4   12 KB | 684 downloads
  • #816
  • Jul 15, 2009 1:45pm Jul 15, 2009 1:45pm
Quoting Syahmi
Hi folks...

Great system !!! Thanks a lot Edge...

For me, I just created a channel for Primer ie: 12WMA High and 12 WMA Low...

Bullish... prices should remain above 12WMA High
Bearish...prices should remain below 12WMA Low

No trade inside the channel.

Chart is attached... TQ
Interesting variation you have.

PA breaks channel with HA confirmation of short term trend and primer (s) are set. Detonator is SM Trix I assume?

Regards.
  • #817
  • Jul 15, 2009 1:51pm Jul 15, 2009 1:51pm
Quoting Indrek
That is not what I meant
I just do not understand how does repainting affect the real time trading... The future moves of the price are not fully predictable even with 1000 of non-repainting indicators. Any indicator shows only this moment to us and it is not important what it showed earlier.
Repainting makes backtesting impossible, that is true. But we are not backtesting, we are trading.
I understand your point now, sorry my post was a little sarcastic

Nowever, I am a huge believer of back testing and I think it's really dangerous to trade without enough statistic information about a system.
I've personally tested dozens of systems that have incredible days, and even weeks. And suddenly everything begins to crash and fall into pieces. You see the daily charts and there's no connection in terms of liquidity, trending/ranging or even classic patterns. The system just worked fine for weeks and then it stopped doing it.

I think everyone has had this experience: you sit in front of your computer and you see the clearest opportunity of them all. You go long. Seconds later you do what you're supposed to do first: see higher timeframes. And you think: WHAT THE HELL AM I DOING? THIS THING IS A NO-BRAINER SHORT!!!

This is what can happen with the systems that don't have any back-testing. Are you sure you're not having the best 10 days that system has had in 3 years?

In my opinion (not shared by many others) I think a great scalping system is one where you have consistend daily profits. Almost every single day.
In this case I seem to be the only one with Edge's system doing less than 100 pips every day (and even losing money some days), but that's a different story.

I think that if you're looking for scalping, you must take advantage of the so called 'noise', and know your odds. And you can't know your odds if you've only tried a system for a week. You can't still know them even if you've tried it for a month!
You can't talk about statistics without having a representative sampling of the population.

... or maybe all of this is false, which would explain why I'm the only one not making pips out of this system even though I'm following all the rules
  • #818
  • Jul 15, 2009 1:54pm Jul 15, 2009 1:54pm
Regarding noise in backtesting, it reminds me of the book fooled by randomness. A great read for traders!
  • #819
  • Jul 15, 2009 2:03pm Jul 15, 2009 2:03pm
Aww that wasn't very nice :/.

Just trying to get some clarification regarding percieved discrepancies in session overlap. Apologies if my posts annoyed you.

Quoting Indrek
Please, people, knowledge about time zones is a part of basic education. Even my 9y son knows how to count them. Should it be re-discussed here?
  • #820
  • Jul 15, 2009 2:03pm Jul 15, 2009 2:03pm
Quoting Quantum4x
I understand your point now, sorry my post was a little sarcastic



In my opinion (not shared by many others) I think a great scalping system is one where you have consistend daily profits. Almost every single day.
In this case I seem to be the only one with Edge's system doing less than 100 pips every day (and even losing money some days), but that's a different story.

I get nowhere near this total. This is just overtrading (imho) and is an excessive market exposure risk.

Keep trading the plan and lets see those losses you are talking about. There is a tweak coming that will benefit ALL.

Regards.
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