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C4 Scalping

  • #2,261
  • Jul 23, 2009 4:54pm Jul 23, 2009 4:54pm
Quoting zznbrm
........
This is a training thread. The different variations (5 pips vs 10 pips, 15 min TRIX confirmation, different TRIX indicators, etc) that Edgetrader has shown on this thread are only to help educate the readers of this thread. He continues to trade his real system live while using this thread to teach.

Thus, I would assume the adding and tweaking of indicators is pretty much useless in the grand scheme of things.
There isn't much point in adding/tweaking indicators, if you can't trade what has already been shown in this thread. There have been several profitable combinations/variations shown. Most people, including myself can't yet trade them well enough. But neither would they be able to trade another indicator/variation any better - it takes time and practice.

So choose a setup that appeals to you and demo the heck out of it until you are near perfect at trading it. By that I mean no mistaken early/late entries or exits. Only then think about adding/changing/tweaking indicators.

It is not an indicator that has an edge, it is a Trader and most of us were not born with it. It needs work and development - screen time and practice (and for me also backtesting).

Ian
  • #2,262
  • Jul 23, 2009 4:55pm Jul 23, 2009 4:55pm
Quoting Edgetrader
It is 2:40 p.m. pst when this chart shot was taken.

It is the EY pair with a 10 tic block sizing.

I suggest ANYONE playing with those Renko over the counter indi deals compare their charts with the one shown and make sure it matches up correctly.

Regards.
I have almost the same only a small difference but that can be explaned due to diferent data feed.

Kristjan
Attached Image (click to enlarge)
Click to Enlarge Name: chart excample.gif Size: 42 KB
  • #2,263
  • Jul 23, 2009 5:00pm Jul 23, 2009 5:00pm
Quoting flyingdawg
PGPB, Kristjan describes perfectly what is happening. Michal, who wrote the renko script, says you can "import" more bars when you first activate the script and that would eliminate the issue. I don't know how to do that. When I first open my platform, I just expand my candles with the + sign at the top of the chart and for some reason that makes the Trix show up. As Kristjan said, as more candles appear, the issue resolves itself.
The reason that works is that the first Trix bars are huge, so later on when there is enough history to generate normal sized ones, the scale on the chart is shuch that you can't even see them. Zooming the chart in cuts off the first oversized Trix bars.

Ian
  • #2,264
  • Jul 23, 2009 5:05pm Jul 23, 2009 5:05pm
Another 10 pis and outside of Edge's trading times but with this system almost a gimme
Attached Image (click to enlarge)
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  • #2,265
  • Jul 23, 2009 5:05pm Jul 23, 2009 5:05pm
This is my renko :-)

Similar...but with a 8 LWMA :-)
Attached Image (click to enlarge)
Click to Enlarge Name: renkochris.gif Size: 12 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,266
  • Jul 23, 2009 5:06pm Jul 23, 2009 5:06pm
Quoting Gleneagles
I trade 06h00 GMT-10h00 GMT and 12h00-15h00 GMT mainly on 60m TF.
Not really a scalper but having a go at short term Trix setups.

The grey boxes highlight the trading times mentioned above.
Indi i-ParamonWorkTime used for that.
You might not beleive me, but I have NEVER been able to make that indi work on any of my charts. I prefer charts with a black background, as they are easier on the baby blue eyes, lol.
Can you send me the settings so they will fit the 11.00- 16.00 GMT session and show lighter block?

Gracias.
  • #2,267
  • Jul 23, 2009 5:10pm Jul 23, 2009 5:10pm
If I did it right this should be my template. Any questions please let me know.
Attached File(s)
File Type: tpl gerry #2.tpl   33 KB | 686 downloads
  • #2,268
  • Jul 23, 2009 5:14pm Jul 23, 2009 5:14pm
Quoting Edgetrader
It is 2:40 p.m. pst when this chart shot was taken.

It is the EY pair with a 10 tic block sizing.

I suggest ANYONE playing with those Renko over the counter indi deals compare their charts with the one shown and make sure it matches up correctly.

Regards.
Hi Edge,
Those Renkos look great, but I can see that I would not be satisfied with just 5 or even with 10 pips going with the trend when trading those beauties!

I'm not sure why you say we should master the time based setups first before considering moving to Renko. Because visually Renko looks so much easier to trade.

Still, I will respect your judgement and plod on with the time based for a while longer.

Ian
  • #2,269
  • Jul 23, 2009 5:18pm Jul 23, 2009 5:18pm
Quoting Chris_B
This is my renko :-)

Similar...but with a 8 LWMA :-)
Chris,
To me the 8 LWMA looks a bit redundant on that chart. Surely with Renko the action is so smooth that the Trix is all you need.

Just my opinion.
Ian
  • #2,270
  • Jul 23, 2009 5:21pm Jul 23, 2009 5:21pm
Quoting ianf0ster
Chris,
To me the 8 LWMA looks a bit redundant on that chart. Surely with Renko the action is so smooth that the Trix is all you need.

Just my opinion.
Ian
Ok, thank you for this suggestion...

i've never traded on renko chart and i'm learning..
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,271
  • Jul 23, 2009 5:28pm Jul 23, 2009 5:28pm
Quoting Edgetrader
OK,

If you want to use the HAMA as a 15m TF confirmation replacement that seems fine.

It can only run on the PA as set so nothing I can do there.

However, real easy and simple chart to trade 5m stuff with.

Need a LWMA set at 8,3,6.

Need a SM Trix candle set at 'default' with colors you like.

Need the Sm Ultra Super Trix PV 4 color set at 'default'.

Trades are easy.

PA crosses and closes above/below LWMA.
LWMA changes color and you are 'primed'.
Trix matches color and you 'detonate'.
HAMA turns color to confirm on 15m or can stay...

Instead of HAMA you can use the LWMA 32-3-6. It's the same. Your system basically is 2 LWMA (8-3-6 and 32-3-6). I use it for a long time. It's nice.

John
  • #2,272
  • Jul 23, 2009 5:33pm Jul 23, 2009 5:33pm
Renko with 8 zerolag ema.

Attached Image (click to enlarge)
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  • #2,273
  • Jul 23, 2009 5:37pm Jul 23, 2009 5:37pm
Thanks to Big Jim, PGPB, and Kostas1 I learned how to post charts & templates today.
  • #2,274
  • Jul 23, 2009 5:42pm Jul 23, 2009 5:42pm
I am a member of the KISS club as evident by my charts. As Edge has said many times over, you only need a primer and a trigger, to win in this business.
  • #2,275
  • Jul 23, 2009 5:51pm Jul 23, 2009 5:51pm
Quoting maxximus
Renko with 8 zerolag ema.

Attachment

Ok, I see everything from 2-10 tic Renko charts now. So, someone tell me, how do you trade them? What is your plan? Anyone can chime in here.

Am going out to dinner now and will review when I get back. If folks are smart enough to use a decent tool to trade with, then I should get a few responses showing how the thing is traded.

I mean plan and goals for each day.

Ian earlier mentioned that he would have difficulty staying at +5/10 levels due to trends shown with Renko.

So, what are others thoughts here?

I will tell everyone this much, you better not be loading these Renko things up with indicators or your trading career just ended.

Regards.
  • #2,276
  • Edited 6:13pm Jul 23, 2009 5:57pm | Edited 6:13pm
Quoting Edgetrader
Ok, I see everything from 2-10 tic Renko charts now. So, someone tell me, how do you trade them? What is your plan? Anyone can chime in here.

Am going out to dinner now and will review when I get back. If folks are smart enough to use a decent tool to trade with, then I should get a few responses showing how the thing is traded.

I mean plan and goals for each day.

Ian earlier mentioned that he would have difficulty staying at +5/10 levels due to trends shown with Renko.

So, what are others thoughts here?

I will tell everyone this much,...
I nevere traded renko before...but in these days i'm trying this:

my renko is setted with 10 pips briks and TRIX 3,1,1,1

i enter the trade with my primer: renko chart reversal
and my trigger: trix crossing 0 line
objective: 10 pips during the best hours

I think the philosophy could be...make 1 or 2 trades per pair every day for a few pips with more lots..."less is more"...

I know that with renko i copuld stay in the trend much longer...but i'm still learning and for now i'm trying to get my "feeling" with it...

Here 3 trades that i've just made... "after hour"
1. 3 pips gain
2. 5 pips gain
3. 6 pips gain
Attached Image (click to enlarge)
Click to Enlarge Name: renkotrades.gif Size: 48 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,277
  • Jul 23, 2009 6:15pm Jul 23, 2009 6:15pm
Quoting Edgetrader
Ok, I see everything from 2-10 tic Renko charts now.

I will tell everyone this much, you better not be loading these Renko things up with indicators or your trading career just ended.

Regards.
LOL!
I agree
where thought goes energy flows
  • #2,278
  • Jul 23, 2009 6:21pm Jul 23, 2009 6:21pm
Quoting Edgetrader
Ok, I see everything from 2-10 tic Renko charts now. So, someone tell me, how do you trade them? What is your plan? Anyone can chime in here.

Am going out to dinner now and will review when I get back. If folks are smart enough to use a decent tool to trade with, then I should get a few responses showing how the thing is traded.

I mean plan and goals for each day.

Ian earlier mentioned that he would have difficulty staying at +5/10 levels due to trends shown with Renko.

So, what are others thoughts here?

I will tell everyone this much,...
I bought the renko chart thing yesterday and I have just been learning how to set it up.

I have been using 5 pip bricks (maybe I should try 10 pip bricks??)
My plan is to
a/ trade in the 7am EST to 11am EST (11am to 3pm GMT) time period
b/ to take trades that have 15 min Trix confirmation
c/ take profit 10 pips
d/ stop loss well, I usually close it if it goes 20 pips against me

I am trading very, very small until I get consistent
Attached Image (click to enlarge)
Click to Enlarge Name: eurren.JPG Size: 84 KB
  • #2,279
  • Jul 23, 2009 6:23pm Jul 23, 2009 6:23pm
Thanks a lot Edge.... I appreciate it...

Quoting Edgetrader
OK,

If you want to use the HAMA as a 15m TF confirmation replacement that seems fine.

It can only run on the PA as set so nothing I can do there.

However, real easy and simple chart to trade 5m stuff with.

Need a LWMA set at 8,3,6.

Need a SM Trix candle set at 'default' with colors you like.

Need the Sm Ultra Super Trix PV 4 color set at 'default'.

Trades are easy.

PA...
  • #2,280
  • Jul 23, 2009 6:34pm Jul 23, 2009 6:34pm
Quoting pgpb
I bought the renko chart thing yesterday and I have just been learning how to set it up.

I have been using 5 pip bricks (maybe I should try 10 pip bricks??)
I use 10 pips for the yen crosses and 5 for slower pairs like E/U or A/U. I think one trick to using renko is finding the best pip range for each pair.

I also like the 8 LWMA as it really gives a good visual for pullbacks.
******************* I'd rather make money than be right.
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