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C4 Scalping

  • #1,581
  • Jul 19, 2009 5:47pm Jul 19, 2009 5:47pm
Swingman, I have your Trix MtF 4 col on several charts, and the alert box kept popping up every few seconds, so I turned the alert off, and the alert box still keeps popping up. There's no way that should happen if I have it OFF, should it? This is happening on every siungle pair.
  • #1,582
  • Jul 19, 2009 5:57pm Jul 19, 2009 5:57pm
I have the opposite problem with the ultrasupertrix v2, and ultrasupertrixmtf v1, I can't get it to trigger alerts or email alerts for the life of me!
  • #1,583
  • Jul 19, 2009 5:59pm Jul 19, 2009 5:59pm
Ok....markets are opened and i'm on the way with my EA...

I apologize with Edgetrader if i concentrate too much with an EA....

If i have to be honest...i don't know if i would leave my money in the hands of an EA in real trade...i could do it only if i'm 101% confident in the EA, in the Broker and in my internet connection...or perhaps i could do it just with micro lots....

My stubbornness in trying to develop an EA is just a challenge between me and mql language...a kind of "i wanna see if i can do it".

And....perhaps i can be wrong but i think that if i can create an EA that takes the right trades...it means that i have understood the strategy and the PA...and can take the same good trades in real manual trading.
Just my opinion...

Now...I can make a (perhaps early) cosideration on renko charts...

In the image attached...i can say that if i watch simply the PA and the moving average...i can have a very cleaner picture of the situation, with clear enter and exit signals, and the TRIX is the "cherry on the cake"...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd173.gif Size: 21 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,584
  • Jul 19, 2009 6:07pm Jul 19, 2009 6:07pm
I'm not sure how anyone will be able to make an ea for this method. If my understanding is correct...Price action is King and the "primer&detonator" are supporting indicators. I have yet to come across an ea that can determine what Price Action is accurately enough to produce profits over a period of time.

Edge, correct me if I'm wrong here. And I don't wish to be rude to those who have made or use EA...I just think the spirit of Edge's first post to start this thread has more to do with us thinking about trades and not relying on automation.

Happy Trading and K.I.S.S.
  • #1,585
  • Jul 19, 2009 6:16pm Jul 19, 2009 6:16pm
Quoting Chris_B
[....]

Now...I can make a (perhaps early) cosideration on renko charts...

In the image attached...i can say that if i watch simply the PA and the moving average...i can have a very cleaner picture of the situation, with clear enter and exit signals, and the TRIX is the "cherry on the cake"...
Chris, you are absolutely right there! Attached my GJ manual chart from Friday. Every brick is 10 pips.

Anne
Attached Image (click to enlarge)
Click to Enlarge Name: gj-c4-fri.gif Size: 17 KB
  • #1,586
  • Jul 19, 2009 6:22pm Jul 19, 2009 6:22pm
Quoting TudorGirl
Chris, you are absolutely right there! Attached my GJ manual chart from Friday. Every brick is 10 pips.

Anne
Hi Annie,

Before that bomb goes off, could you say what size renko bars have you found to be most effective in your testing.

Thanks
Pardy
  • #1,587
  • Jul 19, 2009 6:23pm Jul 19, 2009 6:23pm
Quoting TudorGirl
Chris, you are absolutely right there! Attached my GJ manual chart from Friday. Every brick is 10 pips.

Anne
Wooooow!!

A C4 Tg indy!! I can't imagine the potential!!! I think it's a mix of TRIX, TRIX peaks & Valley and Ma....primer & trigger all in one

Compliments for the bomb graphics!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,588
  • Jul 19, 2009 6:39pm Jul 19, 2009 6:39pm
I totally agree with your strat. of trading the higher TF (H1) and using lower TF (M5, M15,etc...) for entry. This is what is called trading pullbacks.

TimeFreedom

Quoting Indrek
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.
  • #1,589
  • Jul 19, 2009 6:53pm Jul 19, 2009 6:53pm
Quoting Tw0eleven
I'm not sure how anyone will be able to make an ea for this method. If my understanding is correct...Price action is King and the "primer&detonator" are supporting indicators. I have yet to come across an ea that can determine what Price Action is accurately enough to produce profits over a period of time.

Edge, correct me if I'm wrong here. And I don't wish to be rude to those who have made or use EA...I just think the spirit of Edge's first post to start this thread has more to do with us thinking about trades and not relying on automation....
Partially correct here.

There are a few ea's capable of producing consistently with the base plan guide as trading inputs. However, I await a MT4 ea that is capable of such. This is why I am not going much further than I have. There are some that have worked long and hard to develop such and I just want to wait it out a while longer. Am a bit leery on brokers with MT4 platforms as their base platform still also.

Lots of neat little features, easy to add indicators and the like, but many have long and, at times, sordid histories. Have yet to find one of the top 3 worldwide recognized brokerages get any bad press. Will leave it to the threads followers to guess who those might be.

Platforms are solid, CS is way above average, no complaints with any oversight authority and could care less how you trade. In short, they work WITH you, not AGAINST you. They might cost a bit more than others, but you usually get what you pay for in this business.

And yes, I would prefer people spend time learning to trade on their own before seeking short cuts. In this industry, I think it best to prove yourself first and foremost. Besides, should a really good ea happen upon the market, and thereby operate to dramatically alter the efficiency and equilibrium of such, do you really think that any brokerage will allow or want to be associated with such person(s). Nope, any extreme equilibrium change to the market, any market, and the game is over.

It exists and operates basically as a casino. It needs a built in edge to continue. No business lasts long when losing money. Even the pompous bureaucratic windbags would not be able to bail a market out like this. This market functions quite efficiently and matches buyers against sellers in very close percentages. It seemingly allows small tilts in one direction or the other so as to keep everyone interested and gambling a bit more.

That is why I enjoy a short term methodology. Just trying to take a bite of the cake when possible, not the whole damn thing at once. By using an ea MODERATELY, it is possible to have a few more bites than those who are not as advanced in their trading. Like I said before, I trade relatively quickly and with only enough lots to stay below the radar screen. I am not at all greedy.

My brokerage is more than happy to take my trades while making their spread and my personal broker enjoys his commissions. I do not think it wise to rock the boat.

So, how much does one think is enough? $50k, $100k, $1M? Do you really think that, as a retail trader, they are going to allow you to jeopardize their long tenured bread and butter, the institutional traders? I don't.

Regards.
  • #1,590
  • Jul 19, 2009 7:03pm Jul 19, 2009 7:03pm
Quoting Edgetrader
Partially correct here.


...That is why I enjoy a short term methodology. Just trying to take a bite of the cake when possible, not the whole damn thing at once. By using an ea MODERATELY, it is possible to have a few more bites than those who are not as advanced in their trading. Like I said before, I trade relatively quickly and with only enough lots to stay below the radar screen. I am not at all greedy.

My brokerage is more than happy to take my trades while making their spread and my personal broker enjoys his commissions. I do not think...
Very interesting comments there...I have wondered that myself and don't have any answer. So I ask it to you or anyone else on here...how much can you trade while still staying under a brokers radar? 5 standard lots, 10, 50, 100???
  • #1,591
  • Jul 19, 2009 7:11pm Jul 19, 2009 7:11pm
TudorGirl,

Can you please post your indicators/template for this posting? http://www.forexfactory.com/showpost.php?p=2884982&postcount=1585

I would like to try trading with the renko candles. Thanks, PC
  • #1,592
  • Jul 19, 2009 7:23pm Jul 19, 2009 7:23pm
Quoting Tw0eleven
Very interesting comments there...I have wondered that myself and don't have any answer. So I ask it to you or anyone else on here...how much can you trade while still staying under a brokers radar? 5 standard lots, 10, 50, 100???
That all depends. Who is the brokerage? What is their captalization? Who are the clearing banks associated to them? Are there any dealing desks? Are they in compliance with oversight authorites? Blah, blah, blah.

Some brokers can handle larger lot sizes than others as their business connections allow them to farm virtually every single order they take out to associated financial institutions. Others are not as well connected and are therefore hesitant on dealing with larger 'players' as they might occassionally have to actually eat a loss. It definately pays to go brokerage shopping when you are really ready to trade. I think the bigger the better is prudent in this business.

Country of residence also merits consideration. In the U.S., you need to have pretty solid business organization in order to get through the hoops the IRS has strewn about. Not everyone can be a tax cheat and hold the top treasury office. Just pay the damn taxes and move on is my motto.

I tend to make better returns when conservatives hold power, less when Democrats are in office. Overall, there is enough money to get by on quite comfortably. I would never trade as a sole proprietor business entity in this industry, but there are many others that do. Again, there are well educated and informed people available to set you up correctly when one is ready to trade for a living. Everyone and everywhere is different.

Regards.
  • #1,593
  • Edited 7:36pm Jul 19, 2009 7:24pm | Edited 7:36pm
Hi Anne,

is that still the 12 LWMA on your chart ? Looks great.

tex

Edit:

I looked at your screenshot and okay now i understand what u said some time before.
You made an indicator, that changes the colour if the TRIX is descending/ascending AND PA is crossing the MA.
Outstanding work, and it fits Edge's rules. Primer and Trigger. Congratulations.

Do you still use 3,E,E,E,C ?




Quoting TudorGirl
Chris, you are absolutely right there! Attached my GJ manual chart from Friday. Every brick is 10 pips.

Anne
  • #1,594
  • Jul 19, 2009 7:30pm Jul 19, 2009 7:30pm
Quoting Pip Chaser
TudorGirl,

Can you please post your indicators/template for this posting? http://www.forexfactory.com/showpost.php?p=2884982&postcount=1585

I would like to try trading with the renko candles. Thanks, PC
Nope, that one you have to earn. See post #1517.
  • #1,595
  • Jul 19, 2009 7:31pm Jul 19, 2009 7:31pm
Here is an indicator that shows the price level that needs to be reached for the TRIX value to cross to the other side (move from positive to negative and vice versa). If the TRIX value for the previous candle is negative (positive), this indicator will show the price that will cause the TRIX value to turn positive (negative). The calculation changes with each new candle. I find it useful (and interesting) to know exactly where this strike price is. This version shows live data only without any history.

I am also using a version that shows the history. It is great for backtesting as it allows you to see all those "hidden" TRIX crosses. It makes backtesting much more reliable. I will post the history version if there is an interest.
Attached File(s)
File Type: ex4 TRIX_Signal_Price_Live.ex4   5 KB | 793 downloads
  • #1,596
  • Jul 19, 2009 7:36pm Jul 19, 2009 7:36pm
Thanks for your comments edge. I am far from reaching that point...but now I have some things to think about when I get there.
  • #1,597
  • Jul 19, 2009 7:37pm Jul 19, 2009 7:37pm
BTW EU Long covered PA RED STAR 1.4142
  • #1,598
  • Jul 19, 2009 7:40pm Jul 19, 2009 7:40pm
Can't wait to trade tomorrow

Following exactly the guide set forth by Edge. Got about 20-30 pips per day last week from 8-10AM EST.

I'm just curious, Do you guys just keep the trade open until it either hits -10 or +10 pips? I have a bad habit of closing the trade early because I see price stalling and or possible reversal's on the 1M.

Right now I am trading signals from 5M looking at the 15M trix for overall direction.
  • #1,599
  • Jul 19, 2009 7:40pm Jul 19, 2009 7:40pm
Thanks for sharing this indi..seem pretty intresting.
Quoting zznbrm
Here is an indicator that shows the price level that needs to be reached for the TRIX value to cross to the other side (move from positive to negative and vice versa). If the TRIX value for the previous candle is negative (positive), this indicator will show the price that will cause the TRIX value to turn positive (negative). The calculation changes with each new candle. I find it useful (and interesting) to know exactly where this strike price is. This version shows live data only without any history.

I am also using a version that shows the...
  • #1,600
  • Jul 19, 2009 7:46pm Jul 19, 2009 7:46pm
is there a 12 lwma indicator available that sounds an alert if pa crosses the line ?

thanks,
tex
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