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C4 Scalping

  • #1,661
  • Jul 20, 2009 10:03am Jul 20, 2009 10:03am
sometimes i'm wondering if traders just eyeball the indis n forgot 2 look at the trend???
  • #1,662
  • Jul 20, 2009 10:04am Jul 20, 2009 10:04am
Quoting johnthom
I have probably missed something obvious in all this but I have a question on chart set up. Why do we have both the smC4ScaperCandles and the smSuperTrix? These seem to signal exactly the same.
Because many like simple color association. Candles and trix all the same color helps some with the trading it seems. Yes, in actuality, if you have trix candles you find the trix indi redundant. Traders option there.

Regards.
  • #1,663
  • Jul 20, 2009 10:08am Jul 20, 2009 10:08am
Quoting roto7gl
Back on track this week.
Blowing things up as prescribed

Monday results

10 trades
9 wins 1 loss
+ 60 pips

Had to step away from my computer so I just set a 30 s/l on the few trades that were open. Hence the one loss for 30

Missed the trades at around 11:20. I wasn't at my computer then. Would have been an extra 40 pips!!

Attachment
Nice charts.

Still, trading true C4, you were able to gather +50 pips and that would be a pretty nice haul for a couple hours of work.

Regards.
  • #1,664
  • Jul 20, 2009 10:12am Jul 20, 2009 10:12am
I really like the MA_color_ventana too(on top of trix). but cant get it to give the same signals as the Ma in color_wappliedprice set to 8/3/6. I'm looking for a way to get them signaling the same, but not quite there yet and cant get the Ma in color_wappliedprice to sit on my Trix lol
  • #1,665
  • Jul 20, 2009 10:16am Jul 20, 2009 10:16am
Quoting waddij
Edge,

Thanks for your on going commitment and patience. Have been watching and finding what i am comfortable with and am planning on trading this week as per original rules on 5M in direction of 30M and 1H.

Primer cross of 14MA
Detonator 5M Trix and/or Colour Ventana change

Goal 5 pips per trade. -25 S/L.

I cant understand the general desire to achieve 100pips a trade....it would be great however a strong believer that 5 pips is ALL THAT IS EVERY GOING TO BE NEEDED to achieve all goal. 5 pips at $100 or 100 pips at $5 ..... much...
I do not believe those are MY rules as they would make no sense to me trading off a 5m chart.

If basing direction off a 1H, it is redundant to have a 30M, so you can take that off your charts and de-clutter a bit.

Trading the 5m off of the 1H is way too high a TF also (imho). I prefer the 15m MTF as shown in my charts today. On the other hand, if you want less trades and staying just with a dominant trend then that is fine. Each trader chooses that which serves their style and trading temperment.

Other than that, charts look good. Less is more works well once a trader has FAITH in the trading plan. That can be a daunting task to accomplish. It just takes seat time and observation of PA.

Primers and detonator is good.

Regards.
  • #1,666
  • Jul 20, 2009 10:17am Jul 20, 2009 10:17am
Quoting johnthom
I have probably missed something obvious in all this but I have a question on chart set up. Why do we have both the smC4ScaperCandles and the smSuperTrix? These seem to signal exactly the same.
IMHO it's probably so that the peak heights, valley deeps will still be visible (http://visibleearth.nasa.gov/). May be that can be Swingman's next tweak, adjust his scalper candles so they show the same color's as his Trix pv col 5min MTF indi with alerts too, before NASA sends him up to the international space station for his deep science sabbatical, if it's not already too late! Would clean up the charts some & make it look a little more like the original. Just use one 15 min at the bottom for confirming the entires, with 5 min trix peaks/valleys built right into each candle.
May be Edge will ask him?
  • #1,667
  • Jul 20, 2009 10:20am Jul 20, 2009 10:20am
ok changed a few things and now i have it on my trix. just some times it can get lost in the pa.
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  • #1,668
  • Jul 20, 2009 10:20am Jul 20, 2009 10:20am
Quoting winningfx
sometimes i'm wondering if traders just eyeball the indis n forgot 2 look at the trend???
Maybe that's why I overload MT4 with MTF indi's to remind me of what the trend is doing?
  • #1,669
  • Jul 20, 2009 10:22am Jul 20, 2009 10:22am
Quoting johnthom
I have probably missed something obvious in all this but I have a question on chart set up. Why do we have both the smC4ScaperCandles and the smSuperTrix? These seem to signal exactly the same.
Hi,
You are correct that you don't need both. It depends upon how you want to trade:
If you wish to trade divergence, then you need the smSuperTrix.
If you don't, then the smC4ScaperCandles_v3 saves on screen space.
If like me you want real candles coloured by the smSuperTrix then you want smC4ScaperCandles_v2 and perhaps the Heiken Ashi_SWAlert (which gives a row of bars showing the HA colour for each candle).

Ian
  • #1,670
  • Jul 20, 2009 10:25am Jul 20, 2009 10:25am
Quoting ianf0ster
Hi,
You are correct that you don't need both. It depends upon how you want to trade:
If you wish to trade divergence, then you need the smSuperTrix.
If you don't, then the smC4ScaperCandles_v3 saves on screen space.
If like me you want real candles coloured by the smSuperTrix then you want smC4ScaperCandles_v2 and perhaps the Heiken Ashi_SWAlert (which gives a row of bars showing the HA colour for each candle).

Ian

Divergence, of course. Forgot about that.
  • #1,671
  • Jul 20, 2009 10:33am Jul 20, 2009 10:33am
Morning All,
Per request by Edge for charts of trades taken per rules.
Three trades this morning between 0700-1000 CST
+3, +3, +11...total +17
Modest by any means, however, forcing myself to stop considering the swing aspect of trade setup and concentrate on getting in and out with profit regardless of PA beyond my immediate objective of +10 pips.

Market continues rise to upside off bounce of the 61.8 Fib. as i write up this trade summary.

Edge, look forward to new additions you present this week, but I can't see how you can improve this setup much further.
Good trades to all.
Trade safe, trade with the trend.
Cliff
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I get exercise just pushing my luck
  • #1,672
  • Jul 20, 2009 10:34am Jul 20, 2009 10:34am
+10 EU. Primer, Detonator & Plunger.

revrobwimb
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  • #1,673
  • Jul 20, 2009 10:34am Jul 20, 2009 10:34am
Quoting lrathi
Thanks for the clarification what you meant by EARN... You mean BUY the renko chart.
And earn the right to use it profitably. Edge has stated many times one needs to master the C4 strategy and become a profitable trader before moving on to renko. Otherwise one is still chasing the holy grail of indicators ....and will never find it.
******************* I'd rather make money than be right.
  • #1,674
  • Jul 20, 2009 10:36am Jul 20, 2009 10:36am
Hey, nice trades... like the way you played that setup...I'll have to experiment with the MTF as well.
Thanks for posting the chart.
Cliff

Quoting revrobwimb
+10 EU. Primer, Detonator & Plunger.

revrobwimb
I get exercise just pushing my luck
  • #1,675
  • Jul 20, 2009 10:40am Jul 20, 2009 10:40am
Quoting revrobwimb
+10 EU. Primer, Detonator & Plunger.

revrobwimb
Rev, you were in without 15m confirmation, but scalping none the less.

Here is a fresh set of +5's also. BLING!!!!!!!

Regards.
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  • #1,676
  • Jul 20, 2009 10:41am Jul 20, 2009 10:41am
I am having a hard time dealing with the MM issue when trading the 4 pairs as suggested, and figuring out how I should split my trading capital and how much to risk per trade.

Edge indicated that he likes to stop trading after a 2% gain or 4% loss for the day. I would like to try this out and see how it works for me. Here are my questions:

1. Should I limit to myself to 1 or 2 trades at one time? Or can I be in more?

2. If I start with a 10k account, should I divide the 10K into 4 and use $2500 toward each pair?

3. Also, should I stop trading after it hits either the +2%/-4% of the $2500 dedicated to this pair or do I stop if my 10K account drops 4%?

4. In Edge’s chart below (post #1232 (http://www.forexfactory.com/showpost.php?p=2882361&postcount=1232)) it looks like he could be in multiple trades at a time. If this is the case should I lower my risk per trade to something below 2%?

I know the +2/-4% are not set in stone, but I just want to get these concepts down until I get enough experience. Thanks for any suggestions you can offer me.
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  • #1,677
  • Jul 20, 2009 10:43am Jul 20, 2009 10:43am
Quoting cce
Morning All,
Per request by Edge for charts of trades taken per rules.
Three trades this morning between 0700-1000 CST
+3, +3, +11...total +17
Modest by any means, however, forcing myself to stop considering the swing aspect of trade setup and concentrate on getting in and out with profit regardless of PA beyond my immediate objective of +10 pips.

Market continues rise to upside off bounce of the 61.8 Fib. as i write up this trade summary.

Edge, look forward to new additions you present this week, but I can't see how you can improve this setup...
Hi Cliff,
I'm not criticising, but I don't see how that G/U trade was by the rules.
It looked like a re-entry to me i.e. a zero line bounce on the Trix.

Ian
  • #1,678
  • Jul 20, 2009 10:43am Jul 20, 2009 10:43am
Quoting 4xStar
And earn the right to use it profitably. Edge has stated many times one needs to master the C4 strategy and become a profitable trader before moving on to renko. Otherwise one is still chasing the holy grail of indicators ....and will never find it.
The original request was from another trader asking for TG indicators and template.

The reply came from Edge about earning ....
Thus the clarification....
  • #1,679
  • Jul 20, 2009 10:49am Jul 20, 2009 10:49am
Quoting Edgetrader
Rev, you were in without 15m confirmation, but scalping none the less.
Thanks... yep I remember when we used to scalp that way.... before all the city slicker MTF stuff came along! lol.

revrobwimb
  • #1,680
  • Jul 20, 2009 10:54am Jul 20, 2009 10:54am
Quoting vandalrpm
I am having a hard time dealing with the MM issue when trading the 4 pairs as suggested, and figuring out how I should split my trading capital and how much to risk per trade.

Edge indicated that he likes to stop trading after a 2% gain or 4% loss for the day. I would like to try this out and see how it works for me. Here are my questions:

1. Should I limit to myself to 1 or 2 trades at one time? Or can I be in more?

[color=black]2. If I start with a 10k account, should I divide...
On a 10k account, trade 0.5 lot per pair if 100:1 leverage.

Excerpt from post #1306.

However, this same trader could start with a modest account size of perhaps $10,000, then this story can be told differently.

Trading at a more prudent level, say .25 lots, this same trader begins the day trading with the goal of taking appropriate setups and seeking 80 pips net for his work that day, or $200.00. In short, a 2% gain.

He is aware that at 100:1 leverage, each .25 lot traded diminishes his purchasing power by around $250 via margin requirements while the trade is live. As such, he can comfortably trade any signal developing within the four pairs recommended without cause for alarm from a margin call perspective. In fact, he could have a trade ongoing with each pair simultaneously at a total margin against the account of $1000 (approx. $250 x 4), or just 10%. Very conservative this trader is.

This trader also understands that the performance history of his chosen trading plan exceeds 75%. As such, as a PROBABILITY THEOREM trader, he has faith that his initial odds are 3-1 stacked in his favor. Also comforting is the fact that, should he lose a trade, which is inevitable, his odds increase slightly for the next trade initiated to become a winning trade. Even more, this trader understands that his maximum risk to account daily is 4% to start, or (-$400.00). Trading this plan, he knows his risk is 2 consecutive losing trades on all four pairs at a SL of -20 pips.(-20 pips x $2.50 per pips x four pairs x 2 losses = $400.00). He believes it possible, but unlikely, that his plan will produce 20 consecutive maximum loss days forcing him to abandon such.

Why? Because he has back-tested the plan, demo traded the plan, forward tested the plan at modest monetary amounts and has FAITH in the plan. He spends his time trading the plan and limits his time to potential improvements until after trading times.

In addition, he looks closely at the four pairs deemed appropriate trading vehicles and noticed how that ALL four pairs seem to have PA moves IN GENERAL within 10 minutes or so of each other. In short, they have a relatively high correlation to one another. "Shit howdy he exclaims, I get more potential bang for my buck and can spread my risk within four pairs".
In addition ,he reasons that, "if I can FOCUS on my trading and trade good setups, I theoretically could be done in only two (2) trades if they all go reasonably close to one another". Btw, this has been shown via chart shot several times recently. He LIKES HIS ODDS ON ANY GIVEN DAY!!!!!

Regards.
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