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C4 Scalping

  • #1,261
  • Jul 17, 2009 1:53pm Jul 17, 2009 1:53pm
Thanks Indrek for posting your entries, I might head over to the 15M TF as well.


Quoting Indrek
And here is another one, entered at the same minute with previous one, so also late

AUDUSD is still running. Will close it before market close if target not reached.
  • #1,262
  • Jul 17, 2009 1:58pm Jul 17, 2009 1:58pm
Thanks... it's ok..... I've got it from the web.. happy pipping...

Quoting Indrek
I do not have it, sorry. I just use what people post, do not know anything about formats or codes...
  • #1,263
  • Jul 17, 2009 2:08pm Jul 17, 2009 2:08pm
Quoting Tw0eleven
I doubt it's chart shots you really want...I produced some and not a word about them! Have a good weekend!
Respectfully, no chart shots of your trading have been offered for today.

If I have missed a posting you offered for today, Friday, please inform me of such and I will gladly review and comment. In addition, what could I possibly be looking for other than the chart shots showing the trading efforts initiated based upon the plans guidelines. I do not recall asking anything else of anybody. Please elaborate if so inclined.

Regards.
  • #1,264
  • Jul 17, 2009 2:09pm Jul 17, 2009 2:09pm
Hi there. I’ve got a basic question, even silly for some. Could any of you tell me how to put 15 min trix on my 5 min chart? I’ve been trying with no success. Any help would be deeply appreciated.
  • #1,265
  • Jul 17, 2009 2:14pm Jul 17, 2009 2:14pm
Quoting mary4x
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
On a MT4 chart it is as follows:

Click 'insert, indicator, trend and moving average'.

Set them accordingly. I use 50 EMA with a typical price (HLC/3).

Regards.
  • #1,266
  • Jul 17, 2009 2:20pm Jul 17, 2009 2:20pm
Get smTrix MTF, just insert it into yr 5M chart .. and for timeframe... just put 15... done !

Quoting jackal
Hi there. I’ve got a basic question, even silly for some. Could any of you tell me how to put 15 min trix on my 5 min chart? I’ve been trying with no success. Any help would be deeply appreciated.
  • #1,267
  • Jul 17, 2009 2:36pm Jul 17, 2009 2:36pm
Quoting Chris_B
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...
Hi,
I have downloaded the UpdateStopsv30pip EA and taken a look. It is coded correctly. So if all of an order is closed and then the second portion opened in a new order, that must be the way that your Broker has implemented it.
Now the big question is .... does the new partial order open at the same price as that original closed at? If it does, then you are not being charged an extra spread on the scond portion.

Ian
  • #1,268
  • Jul 17, 2009 2:42pm Jul 17, 2009 2:42pm
If whole of trade is closed with 1st tp, the whole order is closed. The ea does not open trades, just manages trades that u have opened. if you open a 2 lot trade, and 1st tp is 10 pips and 2nd is 30 pips, then ea closes 1/2 of the open trade at 10 pips and 2nd 1/2 at 30 pips.

Quoting ianf0ster
Hi,
I have downloaded the UpdateStopsv30pip EA and taken a look. It is coded correctly. So if all of an order is closed and then the second portion opened in a new order, that must be the way that your Broker has implemented it.
Now the big question is .... does the new partial order open at the same price as that original closed at? If it does, then you are not being charged an extra spread on the scond portion.

Ian
  • #1,269
  • Jul 17, 2009 2:44pm Jul 17, 2009 2:44pm
Quoting Syahmi
Hi... there..

I like yr megatrend.... Is it possible to get its mq4 coz I'd like to make its line smaller...
I do not understand this request, you don't need mq4 to change line size or colour. Just edit the indicator's 'properties' when you attach it - go to the 'Colors' tab and set Width at 1 for narrowest.
  • #1,270
  • Jul 17, 2009 2:44pm Jul 17, 2009 2:44pm
Sadly I was unable to trade today, but overall it looks like it was an upday for everyone. i am going to go over the charts this weekend and reanalyze my mistakes so I don't make them again. Anne looks like she has a handle on her EA, even if she never releases it it is good to see it is profitable for her. Hopefuly Edge opens up his bag of tricks this weekend and gives something new to munch on. Monday morning can't come soon enough for me to start the trading again.
  • #1,271
  • Jul 17, 2009 2:46pm Jul 17, 2009 2:46pm
From Edge's first post in this thread:

Quote
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.


2% per day on average with this method is highly realistic .. TudorGirl thinks it may be a modest goal given her results so far. The trick is in realizing that "less is more" and being content with the (steady) accumulation of smaller (albeit surer) pips per trade. The methodology itself, once mastered, produces a large % of winners compared to losers which is also why SL can be more than TP.




Quoting zznbrm
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...
******************* I'd rather make money than be right.
  • #1,272
  • Jul 17, 2009 2:47pm Jul 17, 2009 2:47pm
Thank you very much Ian. That is very helpfull.

On the attachment to my post #1164 you will see in black and white that the second and third orders are opened at the same price and given the same opening time as the original!

If you are ever near La Manga I will buy you a few drinks.

Good Trades to All,
Anthony
  • #1,273
  • Jul 17, 2009 2:48pm Jul 17, 2009 2:48pm
First of all I would like to thank Edge for his great system. I have been following the thread since day one and posted maybe once. For those that are trying to filter bad signals I have something that might help you. I have been using Murray Math Levels as a filter and it's been working great for me. Also I find it keeps my charts very clear. To Edge's chart I have simply added the Murray Math and a 5 EMA. As simple as that.

For those not familiar with MM math this how it works :

1) Just put it on your chart and change the settings of MMPeriod to the time frame you are using. (If TF = 5 Min, then MMPeriod = 5 and if TF = 4 Hrs, then MMPeriod = 1440 for example)
So any signal generated too close to the Pivot (2/8, 6/8) or Major support & Resistance (4/8) or Ultimate resistance lines (8/8 , 0/8) and I'll skip the trade altogether. This is where the trend might reverse on you and the trade become a loser.

2) The reason for adding the 5 EMA ?
After a signal has been generated by the 12 MA and the smTrix, I'll wait for the price to retrace back to the 5 EMA before pulling the trigger or "pushing the plunger" as Edge would say it. This brings in a few more pips in my opinion. Also the Murray Math levels can be used as targets if you prefer.

3) I have attached the indicator and a template. Please let me know if I can be of assist.

4) Finally I would like to thank NS Karthik for kindly sharing Murray Math with us. I got the indicator from him. You can read more about it here : http://www.forexfactory.com/showthread.php?t=159471

Sorry about the lengthy post.

Regards,

Pahadi
Attached File(s)
File Type: mq4 MML_Multi_Option_v1.23.mq4   27 KB | 667 downloads
File Type: ex4 MML_MultiOption_v1.ex4   27 KB | 613 downloads
File Type: tpl edge-templ.tpl   41 KB | 705 downloads
  • #1,274
  • Jul 17, 2009 2:51pm Jul 17, 2009 2:51pm
Quoting f4mnect
If whole of trade is closed with 1st tp, the whole order is closed. The ea does not open trades, just manages trades that u have opened. if you open a 2 lot trade, and 1st tp is 10 pips and 2nd is 30 pips, then ea closes 1/2 of the open trade at 10 pips and 2nd 1/2 at 30 pips.
Hi,
SkyzerFx said he was finding that instead of just the 1st lot being closed, both were closed and a new order opened with 1 lot.

This is why Chris_B and I both looked at the code in the EA. And I concluded that it was the Broker's code that was doing that.

Ian
  • #1,275
  • Edited 3:11pm Jul 17, 2009 2:51pm | Edited 3:11pm
Quoting 4xStar
2% per day on average with this method is highly realistic ..
I do not think that the topic is relevant at all. But! If you get 2 % per day on average then mathematically it is not hard to find out how soon you will be the richest person in the world. It should happen quite soon, I am afraid.
The tricky thing here is that Edge speaks about +2% / -4%

Small calculation: if you start with 2000 USD that is a reasonable amount to start with, and have 2 % on average then you finish first year with ~280 000 USD, the second year with ~40 million USD and the third year with ~5.6 billion USD. Sounds nice?
  • #1,276
  • Jul 17, 2009 2:54pm Jul 17, 2009 2:54pm
My post #1164 explains in simple, non computer language how and why the EA works as it does.

On paper it does close all the original order and reopens at the original price the remaining part of the order. At no extra cost.

Good Trades
Anthony
  • #1,277
  • Jul 17, 2009 2:54pm Jul 17, 2009 2:54pm
ok hummm, odd, i have been using this since he released it and never had that happen. if it's opening orders, delete it lol, that could sure bite u in the ass and your account

Quoting ianf0ster
Hi,
SkyzerFx said he was finding that instead of just the 1st lot being closed, both were closed and a new order opened with 1 lot.

This is why Chris_B and I both looked at the code in the EA. And I concluded that it was the Broker's code that was doing that.

Ian
  • #1,278
  • Jul 17, 2009 2:59pm Jul 17, 2009 2:59pm
Quoting glanfx
Thank you very much Ian. That is very helpfull.

On the attachment to my post #1164 you will see in black and white that the second and third orders are opened at the same price and given the same opening time as the original!

If you are ever near La Manga I will buy you a few drinks.

Good Trades to All,
Anthony
Yes, it is good to know that your Broker is only charging you the 1 x spread. Especially since Alpari UK are supposedly a relatively OK Broker.
  • #1,279
  • Jul 17, 2009 3:01pm Jul 17, 2009 3:01pm
i've written an EA that swing trades on EJ, catching most of the 'nice' days. i have tried similar strategies before but i never had the amazing Trix indicator to work with. i like this approach because the R:R is very good. SL is 15 pips (thanks to a usually precise entry by the Trix) and TP is 80 pips. so by risking 1% the system has the potential to gain over 5%.

for example this week there were 5 losers and 4 winners (one just barely though). so gains would have been about 15%. was it a good week? well catching 245 pips out of the 450 pip weekly candle is pretty sweet. hopefully i'm not missing something. when things have appeared too good to be true in the past they usually were. it's easy to become delusional with forex lol. i think the main difference now though is that i'm using price action in conjunction with a detonator that doesn't repaint.

i would like to do a visual mode backtest but the smTRIX only displays a limited number of bars in its history. does anyone know how to make it display ALL of its output information? so that when i scroll back to the end of my charts i'll get a reading thus enabling the EA to perform the test.

thanks for any help!

Attached Image (click to enlarge)
Click to Enlarge Name: win.gif Size: 23 KB
change the future, not the past
  • #1,280
  • Jul 17, 2009 3:05pm Jul 17, 2009 3:05pm
Well as Week 1 on this new thread draws to a close .. all I can say is .. if we have made this much progress in so short a time, the future looks very bright indeed.

I've downloaded dozens of new indicators, then rejected most of them .. but my twin Gemini personalities insist on checking out everything new. The ones that made the cut are the guppy ma's, remembering to add the 200 ema and the 3/5 ma cross which almost exactly mimics the smTrix. Also using the 3 Trixes on one chart with different tf for each is a huge plus.

And someone included a link to Cobra's thread where I found a rather cool template with a bit of ichimoku, something called 'coral' and a couple of other goodies which are looking like they could be helpful on a 5 min chart.

I actually have three 5 min charts now and one 15 min. One 5 min is really really simple, just the basic Primer (12 wma) + detonator (Trix) and the other 2 a bit more 'decked out' to see if they will help give me that extra 'edge' in trading.
The 15 min is to remind me not to get too focused on the mini-picture presented by the 5 min.

So this week has been a lot of time spent setting up & experimenting with charts, I have a feeling next week will be more trade-focused as I have (at least for now) some charts I feel really good about.

I won't be trading Monday or Tues due to houseguests, hope to catch up a bit on Wed/Thurs.

And like everyone I look forward to the next thing (s) Edge will pull from his magic bag.

Happy Pipping to all!
******************* I'd rather make money than be right.
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