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C4 Scalping

  • #1,881
  • Jul 21, 2009 11:51am Jul 21, 2009 11:51am
Quoting Tw0eleven
Just curious...and trying to understand...if you trade ej and gu and the spread is roughly 4pips. You are already in the hole -4 and then price can only go a max of 9pips against you before you take the loss? Am I understanding that right? Seems pretty tight and that you'd have to have just about the perfect entry to keep this from happening on most trades right?

yes, u r right. when trading the shorter tfs, i also think the sl should not be so tight. but much also depends on your acct n postion size. while most would adhere 2 the 2% risk per trade relative 2 acct size. i think it's discretionary n up 2 your risk appetite.

edge just throws out the nos which he thinks is appropriate. but still is up 2 the individual trader. if your acct size is big enough 2 accommodate a bigger sl. then you can certainly set a bigger 1. thanks
  • #1,882
  • Jul 21, 2009 11:54am Jul 21, 2009 11:54am
i only see traders post good results n winning chart shots. can i request traders post losing ones too. otherwise new readers n i r starting 2 think this is the infamous " holy grail ". hahahaha
  • #1,883
  • Jul 21, 2009 12:03pm Jul 21, 2009 12:03pm
I hope this works. :-)
editted:
Each Pair is identified on the left with its own row. Against this is an indication of the trend L=Long S= Short for both 15m and 60m TF's. On the right is a display of the major currencies position against the open. The ?? are potential trades. It is possible then to identify which pairs are likely to give a trade and then can be dragged to the top screen for closer inspection. I aso have individual tabs for each pair. This saves having to inspect each screen individually.
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  • #1,884
  • Jul 21, 2009 12:05pm Jul 21, 2009 12:05pm
Quoting winningfx
i only see traders post good results n winning chart shots. can i request traders post losing ones too. otherwise new readers n i r starting 2 think this is the infamous " holy grail ". hahahaha
If you watch my charts...there are also losing trades....watch my post at page 123 post #1836..there are 4 losing trades, and 8 winning trades
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,885
  • Jul 21, 2009 12:07pm Jul 21, 2009 12:07pm
Quoting Edgetrader
How many of you are actually trying the +2/-4% daily goals on those demo account? Not too many is my guess. Still seeing pip accumulation mindset here and there. That is fine with lower lot sizing, however, it will be the kiss of death should you start trading standard lots. That money issue is going to creep up on you and skew your thinking when trading decent money amounts.

Less is more, embrace it, live it and love it. You will be glad you did.

Regards.
I can understand what you mean!!

My goal for tomorrow will be 2% of the account...not just pips...

Thank you Edge!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,886
  • Jul 21, 2009 12:09pm Jul 21, 2009 12:09pm
Quoting Tw0eleven
Just curious...and trying to understand...if you trade ej and gu and the spread is roughly 4pips. You are already in the hole -4 and then price can only go a max of 9pips against you before you take the loss? Am I understanding that right? Seems pretty tight and that you'd have to have just about the perfect entry to keep this from happening on most trades right?
The more negative' thoughts you try and understand, the more 'negative' trading you are to encounter.

Could care less about the spread. What does ATR tell you? Do you have the needed oscillation present? Are you in good MENTAL shape, that being, DO YOU TRUST YOUR TRADING PLAN?

Are you a probability theorum trader? Is so, nothing else matters. You set your primer, wire your detonator and push the plaunger as the train rolls by. Keep it simple as always.

Regards.
  • #1,887
  • Jul 21, 2009 12:14pm Jul 21, 2009 12:14pm
Quoting Chris_B
If you watch my charts...there are also losing trades....watch my post at page 123 post #1836..there are 4 losing trades, and 8 winning trades

hi chris_b,

can u explain your entry rules abit? so that i will understand y u took those losing trades? thanks
  • #1,888
  • Jul 21, 2009 12:17pm Jul 21, 2009 12:17pm
Quoting winningfx
hi chris_b,

can u explain your entry rules abit? so that i will understand y u took those losing trades? thanks
I used the 1st post rules....
Obviously not always works....
I also took a few trades counter the 15M trend...and those where losing...

In this strategy 5 seconds later in pushing the plunger can make the difference... i think that what Edge is talking here...is mentality, is feeling with PA...not only the signals...
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,889
  • Jul 21, 2009 12:26pm Jul 21, 2009 12:26pm
Quoting winningfx
i only see traders post good results n winning chart shots. can i request traders post losing ones too. otherwise new readers n i r starting 2 think this is the infamous " holy grail ". hahahaha

Both have been posted. At least by those posting charts showing trades.

I have seen no others as most are not posting trades are still contemplating plan viability. Which losers do you refer too? Lets see your trades so as to compare.

We need visuals to ascertain production or regression.

As for NEW readers, that is up to them to get up to speed here. I know I certainly am not going to do alot of backtracking on this.

There is enough info in the thread to answer any question posed.

Post #1 lays it out and is one of the more basic and simple plans to trade.

Every plan in FF is the holy grail to someone. You just have to trade your chosen plan faithfully.

Anything else is just searching for the next trading plan 'hobby' to play with.

If their ambition is to dabble in trading - wrong thread.
If they want to do indi research -wrong thread
If they want coding and the like - wrong thread
If they cannot watch PA and believe what their eyes tell them - wrong thread.

If the want to learn to trade a simple plan for a living - climb aboard.

How many trades need posted for the newbie to believe? Answer is NONE!

It is up to them to do their own work. Backtest, forward test and start trading it if they chose. If they even think of the phrase 'holy grail' to begin with, they have the wrong mindset for a trader. Every plan loses trades, always have and always will.

Regards.
  • #1,890
  • Jul 21, 2009 12:27pm Jul 21, 2009 12:27pm
Quoting Chris_B
I used the 1st post rules....
Obviously not always works....
I also took a few trades counter the 15M trend...and those where losing...

In this strategy 5 seconds later in pushing the plunger can make the difference... i think that what Edge is talking here...is mentality, is feeling with PA...not only the signals...

yes, i thought so too, when i looked at it. but there was a trade that was +11 on the e/u. that was a winning trade but it seems 2 violate the rules too. trade well
  • #1,891
  • Jul 21, 2009 12:29pm Jul 21, 2009 12:29pm
You called me young...

One trade for submission. +/- 2.25%.

Have a great one.
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  • #1,892
  • Jul 21, 2009 12:33pm Jul 21, 2009 12:33pm
Quoting Chris_B
Today no pre-fixed SL and no pre-fixed TP....

...only my finger...primer....and TRIX...

Edge...do you think I could be a good scalper in the future???

+50 net pips for now... (profits are in €)
Good work here also.

Only loses were counter to 15m trend at the time. Plenty of pips attained, more than needed as a matter of fact.

Plan is easy to trade, just need to actually trade the thing. Loses will occur, big deal. Set your goals and push the plunger.

Do it until it becomes a reflex action.

Regards.
  • #1,893
  • Jul 21, 2009 12:35pm Jul 21, 2009 12:35pm
Quoting jacson101
You called me young...

One trade for submission. +/- 2.25%.

Have a great one.
My bad, 'old grizzled veteran of the arena'.

Keep your shield high and your sword with the sharp edge pointed 'outward'.

Nice trade and chart.

Regards.
  • #1,894
  • Jul 21, 2009 12:37pm Jul 21, 2009 12:37pm
Hi Everyone

Confined to barracks this afternoon so had an unexpected opportunity to trade. Just out of mischief, I though I would try OIL. I saw it in my terminal and just wondered how it would go.

I am now working my way into the +5 mindset which takes some getting used to!

Results attached. Achieved my +1.75% for the day (had to stop to go to the airport) but you can get some results even from the most appallingly choppy PA at +5.

Chart shows details of a few scalps on the 5-pip Renko. I didn't even use Trix here -- just using a "feel" for the action on the Renko alone...

Anne
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  • #1,895
  • Jul 21, 2009 12:40pm Jul 21, 2009 12:40pm
Roto,
Thanks for the example of your trade placement. I've taken a screenshot of them and placed them into my reference page for study along with examples by Edge and others. Very useful to mull over on the weekends after trading week is done. Visually helps to train the mind for the patterns to look for in real time.
Thanks much.
Trade safe, trade with the trend.
Cliff

Quoting roto7gl
Here are my trades from today.

8 trades + 59 pips

I'm finding that "less is more" as Edge would put it.


Attachment
I get exercise just pushing my luck
  • #1,896
  • Jul 21, 2009 12:42pm Jul 21, 2009 12:42pm
Quoting winningfx
yes, i thought so too, when i looked at it. but there was a trade that was +11 on the e/u. that was a winning trade but it seems 2 violate the rules too. trade well
That depends on if a trader is aggressive or conservative.

Aggressive trades without benefit of 15m confirmation. This is how the plan is set forth in original format.

Conservative trades with a 15m MTF confirmation. This is relatively new to the plan but has been mentioned many, many times as a traders choice and works well much of the time.

Regards.
  • #1,897
  • Jul 21, 2009 12:44pm Jul 21, 2009 12:44pm
Quoting cce
Roto,
Thanks for the example of your trade placement. I've taken a screenshot of them and placed them into my reference page for study along with examples by Edge and others. Very useful to mull over on the weekends after trading week is done. Visually helps to train the mind for the patterns to look for in real time.
Thanks much.
Trade safe, trade with the trend.
Cliff
Nice approach to the demolition school.

You learn and you earn,

consequently,

You learn or you burn.

Regards.
  • #1,898
  • Jul 21, 2009 12:47pm Jul 21, 2009 12:47pm
hi edge,

i took a trade minutes ago. as the red arrow notes. got in at 1.4166, spread 2. got out at 1.4173, for +5 pips.

as u can see, my chart is colourful. but it is something i understand. it goes not in line with your trading concept. n as i trade 1m, i don't post here offen. as your thread is for 5m trading.

i just want 2 see losing trades so as 2 analyse. no other intentions. sorry 4 the wait as i don't do this often. i also don't save sereen shots.thanks


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  • #1,899
  • Jul 21, 2009 12:47pm Jul 21, 2009 12:47pm
Quoting TudorGirl
Hi Everyone

Confined to barracks this afternoon so had an unexpected opportunity to trade. Just out of mischief, I though I would try OIL. I saw it in my terminal and just wondered how it would go.

I am now working my way into the +5 mindset which takes some getting used to!

Results attached. Achieved my +1.75% for the day (had to stop to go to the airport) but you can get some results even from the most appallingly choppy PA at +5.

Chart shows details of a few scalps on the 5-pip Renko. I didn't even use Trix here -- just using a "feel"...
Works real good with a 8WMA ANNE.

Regards.
  • #1,900
  • Jul 21, 2009 12:51pm Jul 21, 2009 12:51pm
OK, so there it is, a +2% on the day. Mainly +5s on the Oil together with the +10 on the CJ.

Less is more!

Anne
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