C4 Scalping | Page 118 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

scalping strategy 31 replies

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

Scalping PIPs? 5 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Scalping 100 pips?! 3 replies

Attachments: C4 Scalping
Exit Attachments

C4 Scalping

  • #2,341
  • Jul 24, 2009 8:27am Jul 24, 2009 8:27am
Quoting Tw0eleven
Well, I have seen a lot of charts posted on here with winning trades and only a few with losing ones. So I am going to post a losing trade I had today that might help someone avoid the same mistake.

Here's an example of why you should trade WITH the 15min trend!!! I made a mistake today by not waiting for the 15minute candle to close to confirm price was going to start going up on the GU and it bit me in the a$$!

On a side note, would have been a great setup for shorts, which I'm sure some of you took and made at least 10pips if not more! For...
TwOeleven,
That is a very late entry, or else you were trading the zero line bounce. If you had taken the entry long when thr 5min Trix first signalled you would have mad eyour pips easily.
Zero line bounces are always more tricky, so best to have good confirmation.

Ian
  • #2,342
  • Jul 24, 2009 8:32am Jul 24, 2009 8:32am
Quoting gerry berard
As per my last post looks like the newest thing is RENKO. KISS

hi gerry berard,

renko was introduced by edge way back from the trendmagic thread. it's just that quite a few has taken it up.

if u look at post 2258 on page 151. u can see that edge has a purpose and steps that he wants to achieve with this thread. thanks
  • #2,343
  • Jul 24, 2009 8:39am Jul 24, 2009 8:39am
Gerry B, thanks for telling me how stupid (KISS--keep it simple "stupid") I am for using Renko bars. I have no idea whether Edge will ever introduce them here so I have refrained from posting any charts with them. However, thanks to Edge introducing them to me in the earlier thread, I have found them to be a powerful weapon when used wisely in trading this C4 method. I just get sick of the "experts" coming on here with their unfounded one sentence opinions. Gerry, I really liked your statement about not using a stop loss and just waiting for price to come back to you. I don't care how large your account is, that is the worst advice I have ever seen. Well, that's my rant for today. Back to my stupid renko charts.
  • #2,344
  • Jul 24, 2009 8:47am Jul 24, 2009 8:47am
Another 10 on the euro, thanks Edge! up about 3% so far today, who said laying bricks was hard work?!
Attached Image
  • #2,345
  • Jul 24, 2009 8:56am Jul 24, 2009 8:56am
Thank you for your opinion FLYING DAWG.
  • #2,346
  • Jul 24, 2009 9:05am Jul 24, 2009 9:05am
Quoting ianf0ster
TwOeleven,
That is a very late entry, or else you were trading the zero line bounce. If you had taken the entry long when thr 5min Trix first signalled you would have mad eyour pips easily.
Zero line bounces are always more tricky, so best to have good confirmation.

Ian
You are right and wrong...it was NOT a late entry, but YES it was a zero line bounce play....but the point is, don't trade against the 15min trend.
  • #2,347
  • Edited 9:32am Jul 24, 2009 9:13am | Edited 9:32am
Hi,

These are my trades (6 winners, 1 loser). 20 pips in enough for Fridays.

Regards.

PS: For the people starting with Renko, I think (imho) it would be better to master standard C4 before using Renko bars.

Attached Image (click to enlarge)
Click to Enlarge Name: 20090724 Account1.gif Size: 5 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 20090724 Account2.gif Size: 7 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 20090724 Charts.gif Size: 56 KB
  • #2,348
  • Jul 24, 2009 9:18am Jul 24, 2009 9:18am
Edge,
I still do not quite understand the exit principles of this system... If to trade by the book then we should exit when a candle closes to the other side of LWMA or Trix gives opponent signal, am I right? But then it means that we possibly exit many winning trades too early with a loss that can be bigger than our average win per position?
I am not a scalper as you already know but today I just had time and decided to test myself with C4. Tried to do everything exactly by the book. Whenever told to get out from the trade, I did. Swing trader inside me cried in anger but I told him to shut up and just went on...
The result was that I took 20 trades of which I won 10. But from other 10 that I "lost" majority appeared to be winning afterwards... And the overall result in USD was negative as my 10 losses were bigger than my 10 wins...
What don't I understand here? Please, advise me...
  • #2,349
  • Jul 24, 2009 9:21am Jul 24, 2009 9:21am
Here is some of the action on this morning's GU action with 5 pip renko bars. My charts have the 50 and 200 emas which I think are very powerful trend information and support and resistance on any timeframe, although I know Edge doesn't see their value. I also am using the smFisherTransform set to 12. Before you even think of commenting, YES IT REPAINTS as the trend changes over. However, I don't use it for that. Once it is solidly red or green, I will reenter in that direction if the trend looks strong and I get a signal from the top Trix that I have set to 2. Reentries into a strong trend is the only use I make of that Trix. However, it often gets me a couple of extra entries and winning trades when the trend is strong. My primary entries are based on the Trix set to 3 and the color of the macolor set to 8 as recommended by Edge.

On the attached chart, the green lines are winning trades, the red line is a loser that should not have been taken because it went against the color of the FT. The yellow line was a no entry because of the color of the moving average was yellow.

Wow, those renko bars sure are a waste of space on my charts. KISS.
Attached Image (click to enlarge)
Click to Enlarge Name: gu renko chart july 24 2009.gif Size: 50 KB
  • #2,350
  • Jul 24, 2009 9:24am Jul 24, 2009 9:24am
There is so much crap on your chart I cannot read it.
  • #2,351
  • Jul 24, 2009 9:26am Jul 24, 2009 9:26am
Quoting Indrek
Edge,
I still do not quite understand the exit principles of this system... If to trade by the book then we should exit when a candle closes to the other side of LWMA or Trix gives opponent signal, am I right? But then it means that we possibly exit many winning trades too early with a loss that can be bigger than our average win per position?
I am not a scalper as you already know but today I just had time and decided to test myself with C4. Tried to do everything exactly by the book. Whenever told to get out from the trade, I did. Swing...
Am confused a bit here.

Not sure how one exits a winning trade with a loss. I need chart shots showing the trades taken in order to go any further with that aspect.

Also, taking 20 trades is a bit of overtrading possibly. What was your goal entering the trading session?

This plan was never set forth as a good R/R plan. Not many scalping plans provide such that I am aware of. Plan is based upon high strike rate, probability theory conceptual trading and ability to get in and out of the market quickly.

So, if possible, show me the trades you are questioning and can further assist.

Regards.
  • #2,352
  • Edited 9:46am Jul 24, 2009 9:28am | Edited 9:46am
Quoting ianf0ster
Apocalypto,
Madness ? - That is not strictly true. It all depends upon your win/loss %.
In my testing of C4 I have found that my win/loss % is approx 70% so 7 out of 10 wins (this is only over 6 days though), but it should improve since I am still making mistakes (usually 1 or 2 per day).

My R:R is even worse than that quoted, I often risk an initial 25 pips to target 5 pips - it depends upon the PA. Obviously as soon as price moves in my direction I tighten the disaster stop loss. Also, that is just the DISASTER Stop Loss - since I follow...
TESTING!!!!

wait till u go live mate whole new different world.

In time u will learn what value my post had.... we all run into the 7 in a row or more losses at times.

reevaluate your MM.

anyway these lessons have to be learnt...
  • #2,353
  • Jul 24, 2009 9:29am Jul 24, 2009 9:29am
My only strong advice to anyone considering using renko bars is to, before you trade them with real money, place a renko bar chart side by side with a 5 minute chart and compare the price action and what you are seeing on each chart. Study those charts long and hard until you get a feel for what Renko is doing for you. Renko is not magic, not the holy grail. In fact, I keep 5 minute charts up for viewing because they do tell me things that Renko charts do not. But my trades are taken from the signals given on the Renko charts. A signal is a signal, whether it is on a 5 minute chart or a renko chart. Unless and until Edge starts teaching Renko, I will not post any further charts but I could not live with the unfounded criticism of renko bars that some have been posting. So I felt compelled to post at least one chart showing that signals given by Edge's method work on Renko charts, at least for me.
  • #2,354
  • Jul 24, 2009 9:30am Jul 24, 2009 9:30am
Quoting gerry berard
There is so much crap on your chart I cannot read it.
It would be best to pick a different battle on this one 'G'.

Am a hard core Renko trader myself and am going to give everyone a sneak preview of 'Nitro' as promised earlier this week.

What folks are playing with in C4 is real basic stuff that works well overall. There is a bit more yet to come though.

Patience will be rewarded.

Regards.
  • #2,355
  • Jul 24, 2009 9:31am Jul 24, 2009 9:31am
Gerry B, are you capable of posting more than one sentence at a time? If so, please describe what you see as "crap" on that chart.
  • #2,356
  • Jul 24, 2009 9:39am Jul 24, 2009 9:39am
Okay, I know better than to get caught up in these thread arguments so I'm signing off. Edge, can't wait to see Nitro. Gerry G, best of luck with your trading.
  • #2,357
  • Jul 24, 2009 9:43am Jul 24, 2009 9:43am
Quoting Edgetrader
Am confused a bit here.

Not sure how one exits a winning trade with a loss. I need chart shots showing the trades taken in order to go any further with that aspect.
Here is a chart shot that describes one of the trades that I am speaking about. White line is LWMA 8. Entered long and price went down, already the same candle closed under LWMA and Trix gave a short signal. Exited the position with -11 pips. Already at next candle I could exit at breakeven and after an hour could collect my 10 pips that I was targeting in this trade.
If there are many such trades during a day then...

P.S. Do not be confused about the "sell" line on the chart. It is another trade that was open when I took the picture.
Attached Image (click to enlarge)
Click to Enlarge Name: sample.gif Size: 50 KB
  • #2,358
  • Jul 24, 2009 9:47am Jul 24, 2009 9:47am
How about stop with the B.S., post the charts/trades if you have them. Be grateful for the time and effort edge is offering you here and try to stay more on topic. If the ungrateful petty demo traders turn this into another mess and run edge off this will be a real shame. How about a little respect for edge and his thread. We all should be listening more and saying less. My rant for the day. time to re-focus and take 1 or 2 more trades before the weekend. Good luck to all and thank you very much for your time and effort Edge
  • #2,359
  • Jul 24, 2009 9:48am Jul 24, 2009 9:48am
I have been following your method since Paulus Trendmagic thread ( which for some reason I made that system harder that what it was suppose to be, and didnt fair to well). However your system clicked with me very well. For example today I was aiming for 2.5% increase and achieved 4.5% increase in 4 trades which totalled 61 min (So I am done for the day, and the 4 days previos very similar results.). The charts I dont need to post, as they are just a emulation of what you have posted, but I do have some advice for some people.... Stop Trying To Recreate the Wheel. Follow Edges examples and advice, and you can go no place but up. Again Thank You Edge.
  • #2,360
  • Jul 24, 2009 9:50am Jul 24, 2009 9:50am
Quoting flyingdawg
Okay, I know better than to get caught up in these thread arguments so I'm signing off. Edge, can't wait to see Nitro. Gerry G, best of luck with your trading.
If Edge tells me to wear a brown hat when trading I will do it.
:-)
I am up 32 pips today
I am going to NOT take any more trades
I think I need to learn having winning days, day after day after day

Here is my last trade
Attached Image
0 traders viewing now