C4 Scalping

Thanks Anne. I'll take care of it. Dan

I deleted my reply after seeing yours I sometimes delete my posts that have no longer term value

Hi Chris

You will have to wait until the market opens this evening to get the Renko EA working - it seems to wait until it receives live data before powering up and converting all the chart history to Renko as well.

I am assuming you are familar with how the Offline charting system works in MT?

I have never tried backtests. I find the MT backtester so bug-ridden I don't have much faith in it!

Anne

Think backtesting. (i.e. use date function for backtesting and secondly for automation).......

I am off to the airport now but before I go, suffice to say that IF you have learned how to trade this system as per Edge's instructions, then the Renko will take you from your current pippage to the sort of figures I have been posting.

There has been a certain amount of wailing and gnashing of teeth over my results but I know that Edge has some real goodies in store for all of you when he is ready....

Have a great week - will pop in when I can.

Anne

Everything depends on what trades and situations are we talking about.
My system is that higher TF Trixes are PRIMERS and current TF Trix is a TRIGGER. It means that I will not wait for the Trix crosses on higher TFs after I get a signal from current TF. If the higher Trixes have not already confirmed the signal then I DO NOT TRADE.
So, basically we may say that I look for trades after small retracements that do not influence the higher TFs but make the current TF Trix to change its direction for a very short time.

I use backtet only for an "initial taste" of the strategy....
if a strategy fails in backtest...is hard that it wins in real time.
if a strategy wins in backtest...is hard that it wins in real time but there is some more probability

Yes my renko for now works offline....but the backtest module can't recognize renko...so i will do a forward test in real time!!

Thank you for now and good work!! Now i will turn off my pc for some hours!!

Bye!

LMAO.....and also the EUR/JPY!! (But, some love it)

EURJPY is better as it very often has longer straight rallies. But USDCAD is jumping up and down without any logical explanation.
Edge also suggested EURJPY for this study here. I would also trade GBPJPY where you can sometimes have 300-pip rides without any retracement.

NB! Trix is an indicator that is effective during trends. So, the best pairs that work with it are the most trending ones. GBPUSD is perfect.

@ CCE & SwingMan (SM);

The Reversal TRIX from TSD looks a lot like the MT4 built-in Awesome Oscillator (AO). Maybe SwingMan can take a look please. Do you have the TSD code for the Reversal TRIX? Do you have time to take a look at the TSD code SM?

Thanks in advance,

TimeFreedom

Hi Indrek, It appears that the smTrix (M30, H1) works well both as a primer and a filter on the M15. Looks good at knowing when and when not to take a trade.

Another version to try would be to use H1 and H4 as primers and M15 as a trigger.
Maybe, it would be even more solid for at least three reasons:
1) SwingMan suggested that mathematically the correlation 4 btw TFs is the best and using M15, H1 and H4 would be exactly this;
2) we could use even bigger retracements for entries as M15 may be too close to M30 and their signals are too related;
3) I have noticed that usually neighbouring TFs do not work well together.
I will try both in real trading, after that I can say more.

As posted yesterday, I am not inclined to place my own personal trading preferences at the top of the list. I simply put forth a methodology that few can actually get a firm grasp on. However, the basic signals are efficient on any TF, so traders have alot of versatility built within the infrastructure to use as they deem prudent. No need for apologies to me ever.

However, your posting does raise some concern in general. This may be my own 'kiss of death' but I will speak my peace regardless.

1 - It uses a 1H MTF color change to exit a trade besides that of ATR to somewhat manage the trade. I think the MTF is fine to initiate a 15M trade. However, using a 1H as an exit perplexes me. Signals are just as clear on a 1H as a 15H, perhaps even better due to less market noise. So, if someone wants to swing trade as such, you might as well use the 1H to begin with.

2 - Sitting there and 'testing' or trading this from 5-14 GMT is a long time. Very few individuals are going to be suited to do so. Further, this is seemingly an effort to gain credibility to 15m trades by 'live' testing it. Even with scanning four (4) pairs, you will need a few hundred trades in order to get a general idea of performance. That should take about six months and is clearly not what any person associated to FF is willing to do, other than yourself of course.

This is called generating a 'profit expectancy' to a swing method. As mentioned previously, I am a proponent of back testing, and a shit-load of data need be compiled before I even start to 'modestly' start trading such live for an additional few months. You folks will do well to pay a firm a bit of cash and have them test that plan out for two (2) years historically. At least you will have attained your 'actual' profit expectancy on a per trade basis. With that info in hand, you will have appropriate TP/SL areas firmly situated based on 2 years data.

That is how you build a viable trading plan (model). Most people simply do not have the time or means needed to sit there and qualify a 15m plan month after month. So, in short, 6 months live and a few hundred trades in order to QUALIFY the method, or 2 years historical (in about 20 minutes time at best) which already qualifies the plan. At least you can trade such under a 'reasonable expectation' concept when you follow the latter. Overall, is a good investment in your trading business.

3 - A trader is either willing to put some faith in a plan and actually trade, or they are more inclined to continue playing video games as the days, weeks, and months pass. Have watched and seen this thread unfold the same as that of many, many others. In only a week, this particular thread has around 100 pages and a few hundred paper-clips during the initial 'indi envy' period. Unfortunately, this just continues on and on. As mentioned in post #1, you do not need 8 indi's telling you the same thing as 2 indi's. It simply embraces analysis paralysis.

'Swingman' has set forth so many indi's as requested, and STILL people ask for more and refinements to that he has already provided. If he is really smart, he will take no pay for his work during these next six months with NASA and instead barter for a seat on the next shuttle mission lasting at least one year. Baring that event, he should ask for a seat for the next 6-7 launchings, just for the peace of mind. While his efforts are appreciated and applauded by all, they are wasted by many who simply cannot evolve from 'indi envy' groupies into traders. Replacing a MA or TRIX with one that is 'color coded' is common as every one wants simplicity, like 'green' is long and 'red' is short.
However, how many things have to tell you that the water is wet, or the sky is blue, before you will believe it? This is why so many grade school students have great trading potential at such a young age. They simply accept that which is beyond rational dispute (1+1=2) and make decisions based on what actually is fact. They do not suffer from over analysis and have a better ability to focus on simplicity in order to base their decisions upon a couple of simple facts.

4 - This is, imo, the worst thing that could have happened here. That is, a 'graduation' from 'indi envy' to that of 'pip envy'.

A subsequent posting to yours sets forth a weeks worth of testing showing a few hundred pips generated. I have constantly and consistently preached otherwise and will do so until death do us part. That is, imo, a fools game and many here are playing right into its clutches. While some here may have the capital backing such trading style, I see very few with the trading experience needed handle such account expenditures. This is the last time I will harp on this. It is only a continuation of by rants on trading v. video gaming and as all of you can confirm, have become redundant.

I am admittedly saddened that so many cannot 'improvise, adapt and overcome' with a 5m plan of ridiculous simplicity. Very few, and I mean very few, have figured out through trading efforts this past week (and some easy backtesting) that the 'higher explosive' (C4) lies not in the trading plan, but within your trading ACCOUNT. The +10's were but a somewhat realistic TP level on the four pairs. They do indeed happen very often.

However, by actually focusing trading efforts, you should have found that the 'less is more' concept really comes into effect when you raise up your lot size a bit and go to a +5 level. All this is possible with a bit of mental discipline and faith in your trading plan. Yeah, you need to develop your 'unemotional trading' mindset, but that was for down the road a bit further.

And, you know what, you know your mindset it really screwed as a scalper when the first thing you think about at a +5 pip level is "WHAT IS MY SL?". Already have losing trades dancing in your head. You are nowhere near ready to scalp trade. And playing with 'NITROGLYCERIN' is nothing more than a fantasy as you cannot do such with simple indicators alone. I have mentioned before that, imo, trading is 75% mental and 25% mechanical. Now you get a better glimpse as to why so many 'mechanical' traders fail. Lack of simple faith. A 3-4 losing trade run simply decimated their trading psyche and they resume their search.

5 - There is considerable focus on ea development ongoing. In fact, one already exists within the thread that some are exploring and implementing. This is also common to almost every single trading plan thread I have ever viewed. "How can I get this thing do do the trading for me while I am away playing?". Now, some say they are too busy 'working' to monitor a screen all day. If so, where are you going to find the time to watch a 15m trade develop? How many hours do you have each day to grind away at that project? And now you decide an 'ea' is your answer. Well, let me tell you a little secret about automated trading.

Any worthwhile brokerage letting you trade an automated strategy is going to do so on condition! That being, if you set your platform to trade this ea, you do so at 100% risk to YOU!!! The broker IS NOT going to accept ANY responsibility for things like erroneous trades taken, system disconnects, failed order open or closing, etc..

So, are you 100% mentally confident in placing your hard earned funds into a brokerage account and letting a 'computer' trade those funds while you are either at work or play. If so, you indeed are more confident in error free automation than I am.

On the other hand, you may be a person who wants the 'ea' to do the trading for you while you sit there and watch it do so. If so, you again exhibit faith in an automated system doing in which you programmed in as parameters, but cannot and do not have the experience trading to do so by yourself. Great, you believe in a 'robot' and suffer self esteem issues by having no faith in yourself. Further, you did nothing to help develop these perceived robotic capabilities, and you certainly did not come out of pocket to purchase such. As with 'Swingman and others', many intend to take as much for nothing as possible depending on the generosity of others with a work ethic some cannot even comprehend. How many mini or micro lots will be committed to this type of trading? How many 'live' trades is it then going to take to convince a trader of actual viability? When a "trader", going to 'pay it forward'? The answer is NEVER as a trader with this particular mindset has nothing at all to offer to this or any other trading community.

And yes, it is already known I use a 'ea' in my own trading efforts. So, I am well aware of their pros and cons. Further, I NEVER, EVER let this thing take a trade by itself without first providing a trading opportunity alert that I MUST accept or ignore. In short, I still have to do the work involved in trading. An 'ea' is a valuable professional trader's assistant, but does not replace a professional trader.

Unless a trader can submit something of their own accord that is already viable and prudent from industry recognized trading and MM standards, it is useless. This is where a person can use their 'creative' side to explore their trading ideas.

Unless a trader can apply sufficient focus and effort into a trading plan to become proficient on ANY level, they are not ready to leave their house or day job. This is where a person needs to separate creative thinking from probability theorem thinking. The two do not mix when actually trading.

Should they not be able to detach one from the other, they are 'primed' to fail and their 'detonator' is their ill conceived notion that are somehow now ready to enter the trading arena. With these simple indicators as set forth in this thread, I does not matter what TF you trade. However, you are indeed trading 'probability theory' whether you accept that as fact or not. Again, a grade school child would do so as it is indeed fact. It is up to we full grown adults whether or not to accept such or not. We all have some tendency to discount the obvious.

As mentioned before, a potential trader needs to 'proof up' EVERYTHING they submit as fact for scrutiny. Not only chart shots showing attained proficiency in a methodology, but indi's supporting their position, and competent rational thought as to their thinking process on a trade.

Otherwise, as Yoda would say, 'THIS TRADER, THEY ARE NOT READY TO BEGIN THEIR JOURNEY!".

Overall, I think the 15m is a good option for some. However, I am going to increasingly request that efforts on that TF be such as to completely warrant actually trying to trade it for a living. That alone is the purpose of this thread. Learning to trade a plan so as to augment or replace your existing vocation. Absent these, this thread seeks to provide an alternative to those displaced by difficult economic times. $50 bucks a week simply isn't going to do the trick. At that level, it is a hobby as mentioned previously and nothing more than glorified monopoly.

Regards.

P.S. - Am not totally void of kindness regardless of my rants. I will, during some point this week, provide a glimpse of 'NITRO' for your review.

This post is not directed as an afront to Indrek. Just throwing some stuff out there for reading and reflection.

Trade Well.

Sorry,
Don't have the code...indy is from blog by Adam Milton...does not post code there either...
I'd like the indy to reflect the color change of primer bar as PA changes direction, too.
Thanks for input.
Cliff

Hi guys... found it somewhere on the net...

I dont simply use it at all...

Programmers out there... check it out... coz I myself dont use "ea" for trading purposes.

Cheers.

Very nice post, Edge!
One remark, though. When speaking about the probable exit I did not mean the point where H1 Trix crosses to other direction. Exit is when H1 Trix just changes its colour on M15 chart. So, as soon as H1 Trix is not any more hot red or green, we exit after current M15 candle closes.
And when describing the system, I forgot to mention that I usually move my SL to BE after the price has moved to "my" direction for ATR(14)*2 pips. After that I go after many pips or nothing
I am not going to trade all day long. I just had a look at a period during which I probably trade. I set my goal in pips for a day and when this is achieved - I am done for the day.
As I took myself free from other projects for the summer, I can trade more than usual. But from autumn, I certainly will trade off H1 charts.

Suspect many are following the original plan as laid out, just not as vocal as others.

Looking forward to the next level.

Edge, you sure do have a mastery of the English language to go along with your trading skills.

As I've come to this party a few days late, I've been attempting to catch up over the weekend with everything going on. As I got deeper into the discussion, the path became muddy and somewhat confusing. I may not be the brightest crayon in the box but I'm probably not alone in feeling like this thread needs to be re-focused to Edge's original goals. I enjoy reading about everyone's favorite indicator and how they're used or can be improved. Those discussions are very much needed but I'm not sure this thread is the right place. We all need to repect Edge's desires for this thread. It's his classroom. I've tried to devour everything here in a short time and my mind loses focus on the basic principals Edge has set out for everyone to practice.

I'll begin trading on Monday using his original principals and hope to learn more about how I can become a better trader by doing so. I guess you can put me in the KISS camp. I truely believe the successful traders don't surround themselves with a lot of noice but rely on sound basic principals to make their trades. Clean charts and a fresh mind. Knowing when they should pull the trigger (or push the plunger) and when they should walk away.

Since this my first post on this thread, I definately want to thank everyone for their contributions. I just don't want to see the thread become so removed from it's original purpose that it's almost impossible for a newbie to join in and make sense of it all.

I'll continue reading through this thread now. I hope everyone has an enjoyable and profitable trading week. Remember, even if you loose some, if you gain knowledge from your lose then you win.

... Mark

Mark has a strong point in his post... What could we do for keeping things focused? Open another thread for discussing the system's behaviour at other timeframes?
I have posted here and followed the thread carefully as I like the system itself but ONLY for swing trading.
So, my question is: do we have enough interested people here for opening another thread?