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C4 Scalping

  • #1,241
  • Jul 17, 2009 12:33pm Jul 17, 2009 12:33pm
Quoting f4mnect
There's your problem right there....just say no to drugs

lol ahaha

have a good weekend everybody
or maybe I should start. It was one of those days trying to spend more time than I should at the computer instead of out in the shop working.... Seems to be happening a lot lately

have a great weekend
  • #1,242
  • Jul 17, 2009 12:35pm Jul 17, 2009 12:35pm
As per Edge's post, We are using a 20 pip SL and 10 pip target????


What kind of SL is everybody using? I have been using 10-12 SL depending on volatility and closing trades before 10 pips if i'm seeing lack of momentum.

Getting around 25-40 pips from 8-10 EST.

Currently have about 15 winners in a row. (This mean's i've closed a lot before 10 pip target) I REALLY need to learn to hang onto the winners longer. I've also used this in Asia and it works quite well if you only trade during good volume.

How is everybody elses result?

I just wanted to add i'm only trading in the direction of the 15M trend and using QQE as a filter.

Thanks.
  • #1,243
  • Jul 17, 2009 12:42pm Jul 17, 2009 12:42pm
My conclusion of the week, after some trades and some analysis is that the system works probably best if to trade from M15 chart. In this case, H1 and H4 Trix are for confirmation. As a primer, I right now like MegaTrend best.
Have seen very messy charts and strange indicators here. Matter of taste but the simplest version - MegaTrend and Trix still rules, I think.
  • #1,244
  • Jul 17, 2009 12:42pm Jul 17, 2009 12:42pm
In replyto SkyzerFX's question, "For 200 ema can I use just MT4 included indy named 'Moving Averages...?'", Edge answered: "the one under 'trend' and then the 'moving average' singular is what I use."

Edge or someone, I'm not finding this. Help, please.

Mary 4X
  • #1,245
  • Jul 17, 2009 12:43pm Jul 17, 2009 12:43pm
Quoting SkyzerFX
Ian, if you know this EA that well , maybe you can just fix it, when you
have time?

Thank you.
I can TRY to fix it in the next days...but I'm not a programmer...

I will try...but I don't guarantee the results...
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,246
  • Jul 17, 2009 12:46pm Jul 17, 2009 12:46pm
Indrek do you care to share your results for trading off the 15M charts? I have been refering to the 15M quite frequently with pretty decent results.

Just having troubles with SL and TP levels.

Quoting Indrek
My conclusion of the week, after some trades and some analysis is that the system works probably best if to trade from M15 chart. In this case, H1 and H4 Trix are for confirmation. As a primer, I right now like MegaTrend best.
Have seen very messy charts and strange indicators here. Matter of taste but the simplest version - MegaTrend and Trix still rules, I think.
  • #1,247
  • Jul 17, 2009 12:56pm Jul 17, 2009 12:56pm
Quoting ianf0ster
Hi, whether close of part of an order is available manually depends upon your broker.
But of course you can close part of an order in MT4 with an EA.

Here is the syntax of the Close Order statement in MQ4:-


Function OrderClose()

bool OrderClose (int ticket, double lots, double price, int slippage, color Color=CLR_NONE)It is a function used to close a market order. The function returns TRUE, if the trade is performed successfully. It returns FALSE, if the trade fails.
Parameters:
ticket - the unique number of the order.
lots...

I'm watching now the mql4 code but it seems ok... the function is correct and i think there's no way to optimize this trade management.
The EA closes part of the lots, exactly in the same way you do it manually...so i think this is the only way it can do it.

But...i repeat, i'm not a programmer...so I pass the ball...
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,248
  • Jul 17, 2009 1:01pm Jul 17, 2009 1:01pm
I trade off the 15 min charts sometimes as well each day and what I use is some simple PA reversal signals to get out of a position at take profit levels. I have a first level where I take a few lots off at 10 pips then take a few more off at 15-20 pips and let the lst few run until I see a signal that tells me it migh reverse . It could be a hammer, or inside bar or something like that. When my first profit target is hit, I usually bring stop to BE-5 , this allows me room and then even if i get stopped I still make a little bit or lose a tiny bit. You can also bring the sl to break even at first profit target to let it run as a free trade. I usually bring it to be when I get my second profit at 15 pips or so. Even if I dont take profit there I usally bring the stop to be at that point so if I do get stopped I will have 10 pips profit atleast on a few! Just my 2 cents
  • #1,249
  • Jul 17, 2009 1:05pm Jul 17, 2009 1:05pm
Quoting TudorGirl
This is 2.35% a day which is very much in line with Edge's claims for the system. If anything, Edge is conservative in his claims.
TudorGirl (and everyone) - Thank you for your efforts!

Are you saying that Edge's conservative claims for the system are around 2% per day? I very well may be wrong, but

- I do not remember reading that on this thread
- Averaging 2% per day over any extended length of time is very, very close to impossible
- If long-term live account returns are even 1% per day, then why would anyone change this system at all. Are there 2 people on this thread using the exact same strategy?

I mean no disrespect at all here, but I think expectations need to be lowered just a bit.

Let's be honest, averaging 0.5% daily returns trading 4 pairs would be exceptional results for any strategy over the long-term (years).

I am following this strategy because I think it can be profitable. I guess I'm just playing devil's advocate a little bit.
  • #1,250
  • Edited 1:23pm Jul 17, 2009 1:11pm | Edited 1:23pm
Quoting Chasem
Indrek do you care to share your results for trading off the 15M charts? I have been refering to the 15M quite frequently with pretty decent results.

Just having troubles with SL and TP levels.
Not many results to share, I am afraid. Have taken this week only 3-4 trades per day and before today started all of them at M5 charts. As I do not like nor understand M5 timeframe at all, I analyzed M15 today and it seemed to work better. So, in the evening I started 3 trades at M15, none of which have closed yet.
I am testing 2 * ATR(14) as SL and TP. But, as a swing trader I am used to bigger numbers. Sometimes have used 80 pips SL for GU, 60 for EU, 50 for AU and 100 for EJ. But in these cases target is also far away.
  • #1,251
  • Jul 17, 2009 1:14pm Jul 17, 2009 1:14pm
I see you guys trading 4 pairs mostly

EURUSD = 2 pips
EURJPY = 4 pips
GBPUSD = 4 pips
AUDUSD = 5 pips

It all looking good on Test Account, and on Live it's different.. I almost never lost
on Test and Live is 50/50.. In order to make 10 pips on AUDUSD I have to catch
15 pips move at least.. Not easy task..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,252
  • Jul 17, 2009 1:22pm Jul 17, 2009 1:22pm
Look this 4 example Last AUDUSD

System generate 5 min Buy then 15 min TF Buy,

Lets say you bought right after 15min pip buy signal.. Show me
where do you see any pips of profit there???? Where is it?
I see maybe (best case scenario 5-6 pips, but spread is 5 pips!)
so all those small moves generates no pips..
Look:
Attached Image (click to enlarge)
Click to Enlarge Name: screen1.jpg Size: 174 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,253
  • Jul 17, 2009 1:24pm Jul 17, 2009 1:24pm
its friday and outside the time we should be trading
  • #1,254
  • Jul 17, 2009 1:25pm Jul 17, 2009 1:25pm
Quoting Edgetrader
Excellent work here Anne.

Is it possible to 'optimize' that little monster by testing it only during the times encompassing the Asian/London and London/U.S. market times, that being approx 0600 to 0900 and 1100 to 1500 GMT respectively. Am sure that will produce a bit better results and allow traders from ALMOST any location some flexability to watch it work and pay attention to it.

Also, is it Candle or Renko based?

Ok, plan not great today at +10/-20 levels. Looks like 22 trades were presented by the market and a 16-6 record could have been...
Incredible!!

The EA that i've created takes quite exactly the same trades that you have marked... (today's backtest with GBPUSD).

Monday i will run it in demo real time....
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,255
  • Jul 17, 2009 1:38pm Jul 17, 2009 1:38pm
Quoting TudorGirl
Hi Everyone
End of week results for the EA.
Anne
Anne could you please explain? Look the first 2 lines in your statement

GBPUSD SELL 1.6300 size 0.20 Close price 1.6290 and profit is 20.00

And when I sell GBP and take 3 pips profit on 0.25 LOT profit = $0.75
So I got 25 CENTS per PIP Profit on 0.25 LOT
And you have 2$ per PIP profit on 0.20 LOT..

So? Anybody can explain this??? Maybe it's some kind of MINI account I have
or what is it?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,256
  • Jul 17, 2009 1:38pm Jul 17, 2009 1:38pm
OK, I now got my first result from M15 chart.
I was a bit late with the entry
Attached Image (click to enlarge)
Click to Enlarge Name: ej 1707.gif Size: 71 KB
  • #1,257
  • Jul 17, 2009 1:42pm Jul 17, 2009 1:42pm
Quoting SkyzerFX
Anne could you please explain? Look the first 2 lines in your statement

GBPUSD SELL 1.6300 size 0.20 Close price 1.6290 and profit is 20.00

And when I sell GBP and take 3 pips profit on 0.25 LOT profit = $0.75
So I got 25 CENTS per PIP Profit on 0.25 LOT
And you have 2$ per PIP profit on 0.20 LOT..

So? Anybody can explain this??? Maybe it's some kind of MINI account I have
or what is it?
You might have a micro account and be getting .25 of a mini lot. 1 mini lot is one dollar per pip, so she was at 2$ per pip since it was .2 of a standard lot. If your getting .25 cents a pip then your on a micro lot getting .25 of a mini lot. Check with the broker to make sure.
  • #1,258
  • Jul 17, 2009 1:44pm Jul 17, 2009 1:44pm
Quoting ranger
If your getting .25 cents a pip then your on a micro lot getting .25 of a mini lot. Check with the broker to make sure.
Shooot Ok! Thanks..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,259
  • Jul 17, 2009 1:47pm Jul 17, 2009 1:47pm
Hi... there..

I like yr megatrend.... Is it possible to get its mq4 coz I'd like to make its line smaller...

Quoting Indrek
My conclusion of the week, after some trades and some analysis is that the system works probably best if to trade from M15 chart. In this case, H1 and H4 Trix are for confirmation. As a primer, I right now like MegaTrend best.
Have seen very messy charts and strange indicators here. Matter of taste but the simplest version - MegaTrend and Trix still rules, I think.
  • #1,260
  • Edited 2:33pm Jul 17, 2009 1:50pm | Edited 2:33pm
Quoting Indrek
OK, I now got my first result from M15 chart.
I was a bit late with the entry
And here is another one, entered at the same minute with previous one, so also late
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1707.gif Size: 72 KB
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