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C4 Scalping

  • #1,021
  • Jul 16, 2009 11:12am Jul 16, 2009 11:12am
Quoting Mr.Pip
Edgetrader: great system there!! trading so well... I just wish to ask you do you watch other TF's before entrying in M5 ?? thanks,
No, stupidly I do not most of the time. I feed my ego by trying to be 'smarter' than the market and am promptly slapped around and informed to pay attention. Plan is simple and so am I.

I take my beatings, say 'Thank you sir, can I have another?', and proceed to the next potential disaster and wail away again.

Not very professional, but this MT4 stuff is still not what I am used to trading. Still, many seem to do pretty well with it so I am pleased.

Regards.
  • #1,022
  • Jul 16, 2009 11:17am Jul 16, 2009 11:17am
Quoting Edgetrader
...... Lots of talk on a 200 EMA which is akin to the MTF trix. Is a good reliable addition but is not proven more effective. However, am real familiar with the trader that introduced such, so will acquiese to his experience and long time use of such.......

Also something to remember about using the 200 EMA on a 5 min chart is that the price centres around it. The greater the distance between price and/or 12WMA and the 200 EMA, the more likely that price will come back to it. There was a good example of this earlier this afternoon when a sell trade was signalled on the 5 min SMTrix, but not on the 15 min MTF Trix. (I've attached a chart below) At this point the 12WMA was 40 pips above the level of the 200 EMA, so the probability was that it was going to come back to it.

As many of you will know there are times when this doesn't always happen - especially when there is low volume and price tends to drift along and meet the 200 EMA. However the times Edge has selected to trade this system are those of high volatility and volume, so it is more likely that we will get a definite price move.

Just something to think about/discuss etc.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 88 KB
  • #1,023
  • Jul 16, 2009 11:17am Jul 16, 2009 11:17am
Quoting Tw0eleven
That is a very good question, one I don't really have a concrete answer for I'm affraid....
Price action is something that has to be learned over time. Just staring at chart after chart eventually you get a feel for patterns and price movement. I’ve studied thousands of charts. I would be sitting at home on a Saturday night with my wife, watching TV and I would have the laptop open looking at charts. She would laugh and call me a “nerd”. But now she’s very happy with results of all that studying.
  • #1,024
  • Jul 16, 2009 11:18am Jul 16, 2009 11:18am
Quoting Syahmi
Sorry for interupting your thread.. Just to learn and keep learning....

Yeah.. you got it right....."subtituting" my settings for Kijun/Tenkan ....9,29,3,9.... I superimposed both 12wma and trend magic together with Kijun/Tenkan.....

Either one will do... just pick one you are comfortable with..

My trade is based on 5M & 15M TF.... just looking for entry point at 1M chart.

Detonator is still smTRIX... very comfortable with it....

Thanks a lot.
Thx, will explore this a bit further. Nice explanation of your thought process. And there are no interuptions. All are free to promote their ideas here. Anything that can possibly 'improve' is obviously worthwhile to at least explore. Not sure I can even look at the 1M as am more attuned to the 5M PA movement, however, look forward to your chart shots detailing some of your trades.

Regards.
  • #1,025
  • Jul 16, 2009 11:29am Jul 16, 2009 11:29am
Swingman,

Your great...thanks for all your help.

Could you get us a version of your trix peaks and valleys for the
mq4 platform? It looks very useful as a manual stop indicator.
Also, your super trix indicator would be nice to have!

We all seem to be working on two different platforms so the
indicators are not matching up.

Thanks for all your help!!!

snarlyjack
  • #1,026
  • Jul 16, 2009 11:49am Jul 16, 2009 11:49am
Wow 2 bad days in a row for me, this time I did not let it get out of hand and ended up only -20 in the whole and stopped trading for the day. I am still working on discipline and am making adjustments in how I trade. My thoughts have always been along the lines that this is a business and I should treat it as such, Since this is technicaly my "day" job outside of school and being a stay at home dad I am going to tweak my trading hours to account for this and will be trying to trade the full Longon session including the overlap with the US. This constitues a full days work with breaks for playing with kids, and daily stuff. It is not a big time change for me as I am usualy up at 5:00am EST to get the few hours quiet time I need for school work, we will see how it goes. i am also adjusting some of my triggers to be more efficient and not just hope my first scout did his job correctly. I will be using smTrix set to 3. smTrix MTF 15min set to 2, as well as a Hull MA set to 50 as an overall trend confirmation, triggering trades at close above/below the 12LWA taking trades in the direction of the trend. While I feel this will limit my signals and keep me from taking some profitable trades, it will also keep me out of more bad than good, but we will see what the market says about that.
  • #1,027
  • Jul 16, 2009 12:00pm Jul 16, 2009 12:00pm
Greetings Edge and fellow scalpers,

Lovely technique we have here. Enough to wake me from my slumber and peaked my interest.
I've read and tried to understand the M.O of this C4 Scalp.
Congrats, impressive results.

But, maybe just maybe I can help further this method along, who knows?

I've attached "Price Action" -my contribution to C4.
A little monster, coded by Victor M.(didn't code it myself so I'm not taking any credit for it.)

Very briefly what it does is it identifies "Market Structure" via Bearish/Bullish Vertical Bars. Leaving lovely little colored stars above and below price candles.

From my humble experience, an explosion at times, leaves us with a vertical bar which needs to be resolved both to the upside and downside( a price close both above and below).These in other words, are my TP's and false break indications.

Using C4 scalping and price action I can now target a price level, I can now identify highly suspicious price movements and heck, I can now trade it any time.

My Best-
Attached Image (click to enlarge)
Click to Enlarge Name: aa.gif Size: 30 KB
Attached File(s)
File Type: mq4 Price Action.mq4   22 KB | 824 downloads
  • #1,028
  • Jul 16, 2009 12:00pm Jul 16, 2009 12:00pm
Quoting snarlyjack
Swingman,

Could you get us a version of your trix peaks and valleys for the
mq4 platform? It looks very useful as a manual stop indicator.
Also, your super trix indicator would be nice to have!
I posted in #961 the Peek & Valley indicator, but only for @lRathi...
All others indicators find you also in attachements.
  • #1,029
  • Jul 16, 2009 12:02pm Jul 16, 2009 12:02pm
TwOeleven and MAX99-- I shouldn't be asking such basic questions here--will check out other newbie educational sites for more info. Thanks for your suggestions.
Mary4X
  • #1,030
  • Jul 16, 2009 12:08pm Jul 16, 2009 12:08pm
And here comes Jacson101 with his Price Action indi!!! What a coincidence.
  • #1,031
  • Jul 16, 2009 12:15pm Jul 16, 2009 12:15pm
I like this system which is not unlike what I have tried to develop over the last few weeks/months. That is a system which gives a direction and then you find a trigger with which to enter. I am looking at all 3 indicators to line up and then using the break of a pull back to enter. I aslo have to have my trusty DMI/ADX indicator on there as well just to make sure I am not seeing things. I have also developed a single screen to see the action of all pairs but cant seem to get it to upload as a thumbnail. Can someone help please. 40 years of programming and I can't handle a thumbnail !!!
Best wishes to all.
  • #1,032
  • Jul 16, 2009 12:33pm Jul 16, 2009 12:33pm
While nothing is going on have a question.
I place a buy on EU then I was trying to place a SELL
and got 149 ("Hedge is prohibited")I'm with Interbank FX
don't get it why I cannot sell if I already have buy open position?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,033
  • Jul 16, 2009 12:41pm Jul 16, 2009 12:41pm
Quoting SkyzerFX
While nothing is going on have a question.
I place a buy on EU then I was trying to place a SELL
and got 149 ("Hedge is prohibited")I'm with Interbank FX
don't get it why I cannot sell if I already have buy open position?
IB interprets you trying to close the Buy with a Sell as a 'hedge' attempt instead of a closing order.

Is a mid tier broker that has been spanked a couple of times in the last year. They are taking no chances with the NFA imho.

Regards.
  • #1,034
  • Jul 16, 2009 12:47pm Jul 16, 2009 12:47pm
Quoting Edgetrader
No, stupidly I do not most of the time. I feed my ego by trying to be 'smarter' than the market and am promptly slapped around and informed to pay attention. Plan is simple and so am I.

I take my beatings, say 'Thank you sir, can I have another?', and proceed to the next potential disaster and wail away again.

Not very professional, but this MT4 stuff is still not what I am used to trading. Still, many seem to do pretty well with it so I am pleased.

Regards.
Edge, your posts are always as brief as needed to make your point(s), incredibly informative and very humorous. I applaud and thank you.

The one above had me laughing out loud ......

I just love it. Long may you inform, educate and entertain those who attend this thread.

Take best care.
  • #1,035
  • Jul 16, 2009 1:03pm Jul 16, 2009 1:03pm
Glad to add a bit of levity here and there.

Am struggling at the moment. Went and fixed up a batch of 'taters and onions' to go with the smoked sausage being prepped for the grill this afternoon.

Came back into the 'command center' and was immediately taken down and wrapped tightly by 16' Burmese Python masquerading as 'PA" indicator.

Am definately seeing 'stars' and am fighting tooth and nail to figure out this little gem. Love that PA stuff!!!

Anyway, little woman away checking Nuclear crap with the NRC again. Left here to fend off all invaders by myself. Need to 'cowboy up' now or there may not be a later!

Back in the evening.

Regards.
  • #1,036
  • Jul 16, 2009 1:16pm Jul 16, 2009 1:16pm
Quoting Edgetrader
IB interprets you trying to close the Buy with a Sell as a 'hedge' attempt instead of a closing order.
Regards.
Edge, that's what I'm trying to do! Eventually all trades are profits
all just matter of time! So I want to be able to open "SELL" and "BUY" at
the same pair.. As Many as I like and attempt to close them only at profit,whenever that might be!
Is that possible? What's the problem? Is there regulation?
Or what?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,037
  • Jul 16, 2009 1:21pm Jul 16, 2009 1:21pm
Quote
Greetings Edge and fellow scalpers,

Lovely technique we have here. Enough to wake me from my slumber and peaked my interest.
I've read and tried to understand the M.O of this C4 Scalp.
Congrats, impressive results.

But, maybe just maybe I can help further this method along, who knows?

I've attached "Price Action" -my contribution to C4.
A little monster, coded by Victor M.(didn't code it...
Jason, I was curious about this so I put it on my chart but I don’t know how to interpret it. Can you give a brief explaination?

Thanks,
Max
  • #1,038
  • Edited Jul 17, 2009 3:42am Jul 16, 2009 1:23pm | Edited Jul 17, 2009 3:42am
Edge...

Chart shots using Kijun/Tenkan as a subtitute to the 12WMA & TrendMagic.

SmTRIX 5min & 15min as a confirmation of trade.

Cheers.

Quoting Edgetrader
Thx, will explore this a bit further. Nice explanation of your thought process. And there are no interuptions. All are free to promote their ideas here. Anything that can possibly 'improve' is obviously worthwhile to at least explore. Not sure I can even look at the 1M as am more attuned to the 5M PA movement, however, look forward to your chart shots detailing some of your trades.

Regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 28 KB
Click to Enlarge Name: usdchf.gif Size: 27 KB
Attached File(s)
File Type: mq4 KijunTenkan+.mq4   4 KB | 472 downloads
  • #1,039
  • Jul 16, 2009 1:26pm Jul 16, 2009 1:26pm
Thanks for sharing the trend cycle..like it alot,nice job.
Quoting Syahmi
Edge...

Chart shots using Kijun/Tenkan as a subtitute to the 12WMA & TrendMagic.

SmTRIX 5min & 15min as a confirmation of trade.

Cheers.
  • #1,040
  • Jul 16, 2009 1:31pm Jul 16, 2009 1:31pm
Quoting stunna29
Thanks for sharing the trend cycle..like it alot,nice job.

Heaps of thanks and happy pipping!!
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