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C4 Scalping

  • #981
  • Edited 8:33am Jul 16, 2009 8:32am | Edited 8:33am
Divergence has a one but serious problem with low time frame (like 5m). When you know it's a divergence it's almost too late to trade it
Audaces fortuna iuvat !
  • #982
  • Jul 16, 2009 8:33am Jul 16, 2009 8:33am
Quoting chojnak
Divergence has a one but serious problem with low time frame (like 5m). When you know it's a divergence it's almost too late to trade it
true... true...
  • #983
  • Jul 16, 2009 8:36am Jul 16, 2009 8:36am
Quoting chojnak
Divergence has a one but serious problem with low time frame (like 5m). When you know it's a divergence it's almost too late to trade it
Just gotta keep a close eye on it
  • #984
  • Jul 16, 2009 8:39am Jul 16, 2009 8:39am
Quoting Edgetrader
This thread is started as a tribute to my friend "Paulus", whose considerable contributions to the FF community have stirred the creative thinking of so many traders. Also, my deepest apologies for somewhat 'hijacking' your EUR/GBP thread. As in the past, please feel free to post any and all ideas you deem relevant to trading at your leisure. You are of course welcome here anytime and in any capacity.


C4 Scalping...

This methodology (scalping) is definitely not rocket science. [color=red][b]You...
Hello Edger,

Frankly speaking I didn't see too much utility to TRIX Oscillator..
either two I have wrong setting or..it is just like smoothing SM trix..who give a clear indiction...!..am I right..or wrong..???
  • #985
  • Jul 16, 2009 8:56am Jul 16, 2009 8:56am
Quoting vhramz
Hello Edger,

Frankly speaking I didn't see too much utility to TRIX Oscillator..
either two I have wrong setting or..it is just like smoothing SM trix..who give a clear indiction...!..am I right..or wrong..???
Hard to answer as I am not able to tell how you had it set or how you were using it.

From a general perspective, I believe ANY form of trix indicator, if up to speed on its usage, augments a traders toolbag well enough to turn them from apprentice to journeyman in their trade.

Regards.
  • #986
  • Jul 16, 2009 9:20am Jul 16, 2009 9:20am
Well, today I took my first 2 live trades with this method. My charts show the trades, but since I use one broker for charts and another for the actual trades...I can't show the exact entry/exits with the account history drag/drop feature on MT4. +15 on short EJ and +10 on GU...25pips in 15minutes. Now to work on cosistancy day by day, week by week, month by month.

Thanks Edge, I'm on my way!!!
Attached Image(s) (click to enlarge)
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  • #987
  • Jul 16, 2009 9:34am Jul 16, 2009 9:34am
Hi All,
Well, here is this mornings results. Really love this approach to taking trades.

EU +54, GU +68, AU +10, EJ +12, GJ +11
Total... +155 pips

Used rules set forth by Edge and also trades off of divergence.
You can tell by the charts that I am having a tough time letting go of the swing trader in me. That being said, I feel it difficult to give my money the market if I have entered in a good position over all looking at the higher TF's. Hence the trades that took sometime to complete.

Thanks again to Edge, Anne, Swingman, and all that have made this system shine.
Trade safe, trade with the trend.
Cliff
Attached Image (click to enlarge)
Click to Enlarge Name: am results.gif Size: 101 KB
I get exercise just pushing my luck
  • #988
  • Jul 16, 2009 9:38am Jul 16, 2009 9:38am
Nice trades...like the easy to see charts as well...quick in then out...I am trying to master that quickness myself...thanks for explanation on the setups too...
Cliff

Quoting Tw0eleven
Well, today I took my first 2 live trades with this method. My charts show the trades, but since I use one broker for charts and another for the actual trades...I can't show the exact entry/exits with the account history drag/drop feature on MT4. +15 on short EJ and +10 on GU...25pips in 15minutes. Now to work on cosistancy day by day, week by week, month by month.

Thanks Edge, I'm on my way!!!
I get exercise just pushing my luck
  • #989
  • Jul 16, 2009 9:46am Jul 16, 2009 9:46am
Quoting cce
You can tell by the charts that I am having a tough time letting go of the swing trader in me. That being said, I feel it difficult to give my money the market if I have entered in a good position over all looking at the higher TF's.
Why should you leave your money at the market if you are a swing trader? I have the same attitude that if I enter a position for scalping and set a proper SL and then see that the position is going to run further - why in the hell should I close it? Yesterday I was absolutely honestly going to scalp but finally had only 4 trades and +353 pips profit...
  • #990
  • Jul 16, 2009 9:54am Jul 16, 2009 9:54am
Quoting Indrek
Why should you leave your money at the market if you are a swing trader? I have the same attitude that if I enter a position for scalping and set a proper SL and then see that the position is going to run further - why in the hell should I close it? Yesterday I was absolutely honestly going to scalp but finally had only 4 trades and +353 pips profit...
What are doing to determine your exit? Indicator change? Trailing stop?

Thanks,
Max
  • #991
  • Jul 16, 2009 9:54am Jul 16, 2009 9:54am
Indrek,
Great to have those days and that kind of dilemma to deal with...Nice to know I'm not the only one struggling with this...
Enjoy the weekend.
Cliff


Quoting Indrek
Why should you leave your money at the market if you are a swing trader? I have the same attitude that if I enter a position for scalping and set a proper SL and then see that the position is going to run further - why in the hell should I close it? Yesterday I was absolutely honestly going to scalp but finally had only 4 trades and +353 pips profit...
I get exercise just pushing my luck
  • #992
  • Jul 16, 2009 9:55am Jul 16, 2009 9:55am
Quoting cce
Hi All,
Well, here is this mornings results. Really love this approach to taking trades.

EU +54, GU +68, AU +10, EJ +12, GJ +11
Total... +155 pips

Used rules set forth by Edge and also trades off of divergence.
You can tell by the charts that I am having a tough time letting go of the swing trader in me. That being said, I feel it difficult to give my money the market if I have entered in a good position over all looking at the higher TF's. Hence the trades that took sometime to complete.

Thanks again to Edge, Anne, Swingman, and all that...
Did you set a stop loss for any of these trades?
  • #993
  • Jul 16, 2009 9:59am Jul 16, 2009 9:59am
Quoting 137
no trades yet on the Euro

Hey 137, thanks for your Indy ("iZeroAlpha")there.. Just trying to figure out,
when you decide it is the time to get into trade.. Blue bars???
How many of them (How long should be the line of blue bars) before
it's tells you that it's, OK to take a trade?

I agree though, in sideways trading especially on 4+ pips spread like
GU, Trix doesn't do any good. Anyone who keep scalping on you it's
the broker..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #994
  • Jul 16, 2009 10:00am Jul 16, 2009 10:00am
Quoting cce
Nice trades...like the easy to see charts as well...quick in then out...I am trying to master that quickness myself...thanks for explanation on the setups too...
Cliff

Nice Trades to you too!!! My little 25 is nothing compared to your 155!!! haha Great Job
  • #995
  • Jul 16, 2009 10:00am Jul 16, 2009 10:00am
Quoting cce
Hi All,
Well, here is this mornings results....
Hi there, nice trades just a few questions why did u did only short trades? I am sure there was some long ones. Are you watching at bigger TF's when are you entrying ?
Thanks,
  • #996
  • Jul 16, 2009 10:02am Jul 16, 2009 10:02am
Quoting Max99
What are doing to determine your exit? Indicator change? Trailing stop?

Thanks,
Max
I usually set my target at some pivot point. And I trail the stop very carefully through highs/lows because there is always temptation to keep SL too tight.
  • #997
  • Jul 16, 2009 10:05am Jul 16, 2009 10:05am
Quoting cce
Indrek,
Great to have those days and that kind of dilemma to deal with...Nice to know I'm not the only one struggling with this...
Enjoy the weekend.
Cliff
I am not struggling at all I absolutely deny the possibility of exiting a winning trade with 10 pips when trading live.
Right now, I have two positions running that I opened using the rules of this system. One from yesterday and the other from this morning.
  • #998
  • Jul 16, 2009 10:08am Jul 16, 2009 10:08am
Well I have spent the morning practicing pulling the trigger (detonator?) in my micro account. Only one margin call so far

I am with those that have to trade with real money, even if a very small amount. My micro has bounced from $35 yesterday to a low of $7 today.
This morning has been total whipsaws, some winners, many losers but with losers costing twice the pips of winners, the account gets depleted pretty quickly.

That said, the object of the game was to practice taking the signals quickly ... AND .. to figure out how to avoid the whipsaws.

Most useful posts this morning for me was nisha reminding me about the 200 ema. I added it to 5 and 15 min chart and saw that had I had it there earlier, at least a couple of whipsaws could have been avoided.

I don't see a lot of information coming from the ialpha indicator, but maybe I'm not reading it right.

I am definitely leaning to the opinion that it is very important to have both pivots and 200 ema on charts and to watch for price to react around it. For example as I type, the EJ has just touched the point where its daily pivot AND 200 ema converge. If it fails here, a short should be high probability.

The primer + signals are great .. but other factors must be taken into consideration, just trying to figure out which ones are the most important.
******************* I'd rather make money than be right.
  • #999
  • Jul 16, 2009 10:10am Jul 16, 2009 10:10am
zznbrm,
I use a mental SL based on higher TF. I use MM that will allow me to trade without SL. No SL means no Stop hunting.
I look at where PA is inrelation to the big picture...am I entering at the top of a channel, the middle, the bottom...where is S/R, is the market trending or drifting sideways, etc.

I can see, though, that to scalp and only scalp, I'm going to have to concentrate on taking trades with the immediate PA at hand. My efforts to accomplish this are entirely selfish I'm afraid. I am sorely tired at paying attention to the markets for hours at a time. Some people can just up and walk away. Apparently, not me. I just keep to my seat and stare at the the damn screen waiting to be proved wrong or right by an indifferent market.
So, I really do like the way Edge teaches. His matter of fact approach has hit the nail on the head, as it were.
Hope this bit of a rambling reply helps your trading.
Cliff

Quoting zznbrm
Did you set a stop loss for any of these trades?
I get exercise just pushing my luck
  • #1,000
  • Jul 16, 2009 10:14am Jul 16, 2009 10:14am
Excellent, helpful post 4xStar .... thanks. Trying to figure out how to avoid taking trades when there's little price movement myself. The search continues ..... don't you just love it?!
Quoting 4xStar
Well I have spent the morning practicing pulling the trigger (detonator?) in my micro account....
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