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C4 Scalping

  • #1,961
  • Jul 22, 2009 12:50am Jul 22, 2009 12:50am
Off the mark quickly this morning and Eur/Usd, Gbp/Usd and Eur/Jpy performed as expected and gave up their 5 pips apiece but the Aud/Usd was either lazy or hung over. only made +4 on my Oanda platform so bailed out once it closed above the MA for a loss of 6 pip (including the spread) so a total of +9 this morning

Dave W
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  • #1,962
  • Jul 22, 2009 1:30am Jul 22, 2009 1:30am
Well, I thought I'd give the London session a try tonight since I will be working at my day job today and tomorrow during the London/US overlap period. And let me say, the Asian/London overlap did not disappoint!!! 2 trades and 16pips in under 10minutes! Back to bed.
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  • #1,963
  • Jul 22, 2009 2:10am Jul 22, 2009 2:10am
Took couple tonight. Seeing that its best to wait for 2nd candle after 1st candle breaches ma, push the plunger on 2nd candle once pa is in gearing up full speed.
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  • #1,964
  • Jul 22, 2009 2:11am Jul 22, 2009 2:11am
Hi Everyone

I am back from my trip and as I said, I left the EA to trade unhindered for two days.

Results are not good, but not unexpected given that the collective experience of this method is that it NEEDS SOME DISCRETION!

The robot traded EVERY opportunity, good and bad, and ended the two days 40 pips down. It made around 380 pips and lost around 420 pips.

Every winning trade looked great - just like the best charts posted here. The losers were nearly all howlers! Looking at the setups it is unlikely that an experienced trader would have taken them.

So the conclusion is that (of course!) Edge is right - an EA is a very valuable addition to the arsenal as it never misses an opportunity. But I am now modifying it so, instead of opening trades by itself, it just pops up dialog box saying something like "OPPORTUNITY -- TRADE? YES/NO".

I think this is the best compromise. This way, I will not miss any opportunities but I can "vet" the setups before pushing the plunger.

Anne
  • #1,965
  • Jul 22, 2009 2:17am Jul 22, 2009 2:17am
Just took one more EJ +8. Nice volatility this london open.
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  • #1,966
  • Jul 22, 2009 2:18am Jul 22, 2009 2:18am
Quoting TudorGirl

So the conclusion is that (of course!) Edge is right - an EA is a very valuable addition to the arsenal as it never misses an opportunity. But I am now modifying it so, instead of opening trades by itself, it just pops up dialog box saying something like "OPPORTUNITY -- TRADE? YES/NO".

I think this is the best compromise. This way, I will not miss any opportunities but I can "vet" the setups before pushing the plunger.

Anne
I think thats fantastic!
  • #1,967
  • Jul 22, 2009 2:23am Jul 22, 2009 2:23am
Sounds like the best of both worlds!!

Trigger ready!!! What do you think!?!
Ahhh.... Let me see now. Yes or No?

Bruce


Quoting TudorGirl
.......
Results are not good, but not unexpected given that the collective experience of this method is that it NEEDS SOME DISCRETION!

The robot traded EVERY opportunity, good and bad, and ended the two days 40 pips down. It made around 380 pips and lost around 420 pips.

Every winning trade looked great - just like the best charts posted here. The losers were nearly all howlers! Looking at the setups it is unlikely that an experienced trader would have taken them.

So the conclusion is that (of course!) Edge is right - an EA is a very valuable...
  • #1,968
  • Jul 22, 2009 2:33am Jul 22, 2009 2:33am
Quoting TudorGirl
But I am now modifying it so, instead of opening trades by itself, it just pops up dialog box saying something like "OPPORTUNITY -- TRADE? YES/NO".
But this is a default setting in MT4 that with any EA the user may choose if EA trades authomatically or only with manual acceptance? Should it be then programmed once more into the EA?

I probably would never trust fully authomatic thing even it is brilliantly made as there can always be some technical problem with my terminal, my internet connection, my electricity or whatever. Murphy's law probably works in fx too
  • #1,969
  • Jul 22, 2009 2:36am Jul 22, 2009 2:36am
First of all I would like to than Edgetrader for you great thread. I have followed your advice that less is more and nowadays I have only Trix indicator as an extra window below my charts combined with Renko and Kijun Tenkan indicator it is working out great and I am having great success with them better that I could expect.
Although I have a question to those who uses Renko bar script, especially Anne or Edge: Do you guys have the similar problem that when you open the MT again the offline chart history in majority is erased. For example before closing there were about 350 bars in history but when I open the MT again there are only less than 100 bars in the history left. Otherwise I would not mind it, but that might affect the quality how the Trix indicator and also Kijung Tenkan are acting.
There is 65 000 bars allowed in the chart and max in history 512 000. If anyone can help me with that problem I would appreciate it very much.

Kristjan
  • #1,970
  • Jul 22, 2009 2:38am Jul 22, 2009 2:38am
TG hi,
Have been eargerly awaiting your return re: the EA progress .
As you would have noticed we have had some great rallies on the revelant currencies specific to the C4 Scalper.
Just had a querie re MManagement for the EA your testing...
I have been testing the 'UpdateStops to BE' ea that was posted a few days back (its in the paperclip section). One of the features was the ability to set a first TP price (5 pips) for eg. then a second TP price (10 pips). Also the percentage of the total opened amount to be closed at those TP prices was also a great feature...Then a trail for the remaining .
It is handy for the large rallies where prices went up/down 60 or so pips (without a re-entry signal), therefore once out after the 5 and 10 pips as suggested, further opprotunity was there to gain that bit more for free.
Apparently the EA in question has some errors...so im reluctant to use it as im not a programmer. Would MM suggestions like I have outlined be a possibility, in your opinion, in your EA?

regards,
D



Quoting TudorGirl
Hi Everyone

I am back from my trip and as I said, I left the EA to trade unhindered for two days.

Results are not good, but not unexpected given that the collective experience of this method is that it NEEDS SOME DISCRETION!

The robot traded EVERY opportunity, good and bad, and ended the two days 40 pips down. It made around 380 pips and lost around 420 pips.

Every winning trade looked great - just like the best charts posted here. The losers were nearly all howlers! Looking at the setups it is unlikely that an experienced trader would have...
where thought goes energy flows
  • #1,971
  • Jul 22, 2009 2:41am Jul 22, 2009 2:41am
Quoting TudorGirl
Hi Everyone

The robot traded EVERY opportunity, good and bad, and ended the two days 40 pips down. It made around 380 pips and lost around 420 pips.

So the conclusion is that (of course!) Edge is right - an EA is a very valuable addition to the arsenal as it never misses an opportunity. But I am now modifying it so, instead of opening trades by itself, it just pops up dialog box saying something like "OPPORTUNITY -- TRADE? YES/NO".

I think this is the best compromise. This way, I will not miss any opportunities but I can "vet" the setups...
I agree with you Anne...
my EA too takes goods and bad trades but finishes every day with a little loss...

I'm doing very well live trading, and i follow the same rules...
so...
i definitely will discontinue my EA development because day after day, while i'm learning the Edge technique, i'm realizing that i don't need an EA, i can do better with my finger...and i'm enjoying myself doing it!

From some years my dreams is to become a real and complete trader...and now thanks to Edge i have a real opportunity!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #1,972
  • Jul 22, 2009 2:57am Jul 22, 2009 2:57am
Quoting Indrek
But this is a default setting in MT4 that with any EA the user may choose if EA trades authomatically or only with manual acceptance? Should it be then programmed once more into the EA?

I probably would never trust fully authomatic thing even it is brilliantly made as there can always be some technical problem with my terminal, my internet connection, my electricity or whatever. Murphy's law probably works in fx too
Hey Indrek,

Thanks for reminding me of that feature! But I am trying to build as much functionality into the robot as I can. Reason is this..

When MT asks for manual confirmation of an EA trade, all the variables inside are frozen at the moment in time it popped up the dialog box. If you push the button immediately - great.

But in my EA, I calculate the +10/-20 TP/SL etc automatically. If you are late by 10 or 20 seconds, the price might have changed quite a bit so the TP/SL will be wrong.

The advantage of doing the dialog box inside the EA it that it can call RefreshRates() immediately before placing the trade and hence update the SL/TP to the accurate values for the price when the plunger is pushed, not the stale prices when the dialog was opened. When going for +5 or +10 this can make a huge difference to the success/failure of a trade.

Anne
  • #1,973
  • Jul 22, 2009 3:09am Jul 22, 2009 3:09am
Quoting TudorGirl
Hey Indrek,

Thanks for reminding me of that feature! But I am trying to build as much functionality into the robot as I can. Reason is this..

When MT asks for manual confirmation of an EA trade, all the variables inside are frozen at the moment in time it popped up the dialog box. If you push the button immediately - great.

But in my EA, I calculate the +10/-20 TP/SL etc automatically. If you are late by 10 or 20 seconds, the price might have changed quite a bit so the TP/SL will be wrong.

The advantage of doing the dialog box inside the...
Sounds nice! And forgive me if I sometimes ask stupid questions as programming IS rocket science for me
One more question: will you build the EA to work on Renko? It would mean that everybody has to buy Renko before they can use the EA?
  • #1,974
  • Jul 22, 2009 3:24am Jul 22, 2009 3:24am
Maybe I am just stupid and this idea would never work but:
Could the MTF versions of Trix be programmed so that we would not set timeframe in minutes like 15, 60, 240 but by multipliers - current timeframe would be 1 and others 4 and 8.
I mean that then we could set these three and use them at any TF. For M5 we would see also the Trix of M20 and M80, for M15 - H1 and H4 and so on.
Besides, we would not need different indies for current TF and MTF, just one and only.
  • #1,975
  • Jul 22, 2009 3:25am Jul 22, 2009 3:25am
[quote=kristjantelve;2892617]First of all I would like to than Edgetrader for you great thread. I have followed your advice that less is more and nowadays I have only Trix indicator as an extra window below my charts combined with Renko and Kijun Tenkan indicator it is working out great

Hi Kristjan,

Is it possible to send a chart, so I can look at your setup?
Or maybe the settings? You can also send it to me by PM.

Thanks, Caz
  • #1,976
  • Jul 22, 2009 3:34am Jul 22, 2009 3:34am
[quote=caz;2892760]
Quoting kristjantelve
First of all I would like to than Edgetrader for you great thread. I have followed your advice that less is more and nowadays I have only Trix indicator as an extra window below my charts combined with Renko and Kijun Tenkan indicator it is working out great

Hi Kristjan,

Is it possible to send a chart, so I can look at your setup?
Or maybe the settings? You can also send it to me by PM.

Thanks, Caz
Here you go.

Kristjan
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  • #1,977
  • Jul 22, 2009 4:40am Jul 22, 2009 4:40am
Hi Kristjan,

Nice setup - what settings have you found most successful for the Kijun and Renko combo?

All the best
  • #1,978
  • Jul 22, 2009 5:01am Jul 22, 2009 5:01am
Quoting Yidrasil
Hi Kristjan,

Nice setup - what settings have you found most successful for the Kijun and Renko combo?

All the best
Kijun - default
Renko:
Cable - 5 pips
Euro - 5 pips
GBPJPY - 10 pips

Kristjan
  • #1,979
  • Jul 22, 2009 5:05am Jul 22, 2009 5:05am
Good morning.

Good start this morning. Some very simple obvious set ups on the AUD/USD.

+5, +5, +5 on the AUD
+5, -9 on the EUR/USD.

On the attached chart for the E/U i have shown in a red circle where the 15M trix changed by 3 bars. When i took the trade the 5M had crossed down and the 15M was down as well. After the open of the next bar the previous 3 bars on the 15M changed and went green giving the up signal....First time I had seen this happen live and is why back testing is going to be an issue. IMHO anyway.

Closed at the cross of the MA. +11 for this morning. Now if that was at $200 a pip !

Cheers
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  • #1,980
  • Jul 22, 2009 6:25am Jul 22, 2009 6:25am
Quoting waddij
Good morning.

Good start this morning. Some very simple obvious set ups on the AUD/USD.

+5, +5, +5 on the AUD
+5, -9 on the EUR/USD.

On the attached chart for the E/U i have shown in a red circle where the 15M trix changed by 3 bars. When i took the trade the 5M had crossed down and the 15M was down as well. After the open of the next bar the previous 3 bars on the 15M changed and went green giving the up signal....First time I had seen this happen live and is why back testing is going to be an issue. IMHO anyway.

Closed at the cross...
Waddij,
That is only to be expected. The 15min Trix can keep changing colour until the 15min candle closes. Thus it appears to repaint up to 3 bars back- but in actual fact it does not. Although I note that somebody claimed it was repainting 5 bars back, however I don't beleive that.

This is the price you have to pay for using MTF as confirmation.

Ian
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