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C4 Scalping

  • #2,361
  • Jul 24, 2009 9:50am Jul 24, 2009 9:50am
Quoting Indrek
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...
Hi Indrek!

As Edge has said more than once...this system is not so mechanical...
It needs a little bit of discretion and it needs PA to gain a bit of momentum...

Bad trades happens all days...but the most important thing is to wait for the next good signal and push the plunger...
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,362
  • 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 ... Gerry G, best of luck with your trading.
  • #2,363
  • Jul 24, 2009 9:53am Jul 24, 2009 9:53am
How do I get Trix vertical, separated bars on my charts instead of blocks? I was able to do it on one Trix--don't know now what I did--but not on the others.
  • #2,364
  • Jul 24, 2009 9:54am Jul 24, 2009 9:54am
I am a simple guy with a simple chart simply trying to make money. Here is another trade taken this am with my simple system.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 3.gif Size: 13 KB
  • #2,365
  • Jul 24, 2009 9:55am Jul 24, 2009 9:55am
could u post a chart of what your talking about

Quoting mary4x
How do I get Trix vertical, separated bars on my charts instead of blocks? I was able to do it on one Trix--don't know now what I did--but not on the others.
  • #2,366
  • Jul 24, 2009 9:55am Jul 24, 2009 9:55am
Quoting Indrek
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.
Here is another sample, more disgusting than previous as there is a strong uptrend. But the basic rules demanded exit after next candle... I agree that it is just my stupidity here but I would be happy to know what should I do in this situation besides exit?
Attached Image (click to enlarge)
Click to Enlarge Name: sample 2.gif Size: 48 KB
  • #2,367
  • Jul 24, 2009 10:01am Jul 24, 2009 10:01am
Quoting Indrek
Here is another sample, more disgusting than previous as there is a strong uptrend. But the basic rules demanded exit after next candle... I agree that it is just my stupidity here but I would be happy to know what should I do in this situation besides exit?
Indrek, if I may make a suggestion, wait for the 15min trix to turn back to the strong green as it did a few bars after.
  • #2,368
  • Jul 24, 2009 10:02am Jul 24, 2009 10:02am
Quoting Chris_B
Hi Indrek!

As Edge has said more than once...this system is not so mechanical...
It needs a little bit of discretion and it needs PA to gain a bit of momentum...

Bad trades happens all days...but the most important thing is to wait for the next good signal and push the plunger...
I am not even speaking about bad entries but the situations where I entered a good trade and then received strong signal to exit instead of keeping the trade running. This EJ trade was stupid, I agree but the second one was perfect and could be kept for hours.
  • #2,369
  • Jul 24, 2009 10:03am Jul 24, 2009 10:03am
I would like to apologize to Edge for my behavior. Sorry EDGE
  • #2,370
  • Jul 24, 2009 10:06am Jul 24, 2009 10:06am
Quoting TudorGirl
Hi Angus

I am mystified by what you mean here. Renko charts are not related to timeframe in any what whatsoever. Talking about a "5 minute Renko" is meaningless.

Renko charts are defined only by their brick size. They are PURE PA.

Anne

I'm well aware that renko bricks are not time based, but the point I was trying make is that mt4 does not offer renko as a chart style, only time based charts.
So, you're taking a 1min chart(which is the lowest time frame available) and converting it to a renko bar, in essence, just removing the time stamp, but not really because the data is still received in "1min packets" and not in tic form.
But hey, it is a pointless argument because without a central exchange it's anybodies guess how your broker compiles the data you receive.
  • #2,371
  • Jul 24, 2009 10:07am Jul 24, 2009 10:07am
Quoting f4mnect
are u just blindly taking trades by the arrows. theres more to this than that and indicators can "demand" anything they want, I say when to enter and exit a trade
I agree that in the 1st example, it was a very bad trade but the 2nd was nice and could be kept running for very many pips.

You are right, of course, that a trader makes a trade. And I really know people who trade for living without using any indicators. But that is another story. I would just know how to behave according to rules.
As I trade higher TFs then I am used to set the SL for GU at some 80-100 pips and let it go. But here it is too different.
  • #2,372
  • Jul 24, 2009 10:11am Jul 24, 2009 10:11am
I'm trying to go one little step forward....

Today i played live on my demo account with renko...just for curiosity...

After the first 3 trades of the day (+5 +5 +5) i was "done for the day"...
but the renko script on my MT4 doesn't seems to work properly...my 4th trade (on AUDUSD) was wrong because renko was freezing...so it gave me a bad entry...
So...i had to make some more trades to achive my 2% (or little bit more) for the day...

Anyway...the day finishes with a net gain of 2.315 € (3.450 $)...with only +15 pips (as you can see in the picture i was working with 20 lots per trade).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chris_b_072409.gif Size: 49 KB
Click to Enlarge Name: chris_b_trades072409.gif Size: 35 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,373
  • Jul 24, 2009 10:13am Jul 24, 2009 10:13am
Quoting Indrek
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.
Well, you certainly have recognizable consolidation during the area in question.

In addition, this is a trade that looks to be taken outside of my trading time so will not go in to that aspect as everyone is own their own during those times.

While there are indeed long signals as you show, I cannot tell anybody honestly why PA during that time simply did not work out in their favor. As that is only 1 trade of the 20 you took, it is still difficult to tell you very much here.

I can only throw my EY chart up for comparison and you can see also that, even in a more volatile period, PA does not always work out. This is why I also look at multiple pairs in order to spread my risk. Have attached charts for today also.

Usual Friday PA. Light on fundamental drivers and all over the place. Even the last GPB trades were held on to based strictly on overall market bias, which was short. I know, as a swing trader, you will see that as the 15m is short for a while on almost everything.

Also, take a good look at the OPENING trades to the market today. Trading pure C4, a trader would have been in and out quickly and done for the day. The rest are, in actuality, irrelevant trades.


Regards.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 5m.jpg Size: 196 KB
  • #2,374
  • Jul 24, 2009 10:13am Jul 24, 2009 10:13am
Quoting gerry berard
I am a simple guy with a simple chart simply trying to make money. Here is another trade taken this am with my simple system.
  • #2,375
  • Jul 24, 2009 10:13am Jul 24, 2009 10:13am
Sorry been away for the last week. My wife gave birth to our first child! So been busy not sleeping, and feeding.

Anyway back on deck and got out 3 x 5 pip trades today. 2 x GBPUSD and 1 x EURUSD.
Charts attached.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd.gif Size: 29 KB
  • #2,376
  • Jul 24, 2009 10:15am Jul 24, 2009 10:15am
Quoting Edgetrader
Well, you certainly have recognizable consolidation during the area in question.

In addition, this is a trade that looks to be taken outside of my trading time so will not go in to that aspect as everyone is own their own during those times.

While there are indeed long signals as you show, I cannot tell anybody honestly why PA during that time simply did not work out in their favor. As that is only 1 trade of the 20 you took, it is still difficult to tell you very much here.

I can only throw my EY chart up for comparison and you can see also...
Thanks, but what about the other one? The GU trade was perfect but the rules tried to stop it.
I mean post #2368.
  • #2,377
  • Jul 24, 2009 10:19am Jul 24, 2009 10:19am
Quoting gerry berard
I would like to apologize to Edge for my behavior. Sorry EDGE
No apologies needed.

'FD' has been ahead of this learning curve for some time now. I think he was just providing some info that might benefit all.

Regardless, the PA continues and we continue our work.

No 'timeouts' issued on Fridays as the long week is soon to close.

Regards.
  • #2,378
  • Jul 24, 2009 10:19am Jul 24, 2009 10:19am
Quoting gerry berard
I would like to apologize to Edge for my behavior. Sorry EDGE
Gerry, your posts are valuable also. I am fascinated by the simplicity of your charts and your success

I am a renko chart user also, so your post about renko riled me a wee bit....but I think your heart is in the right place
I am glad you are posting and participating

I think we have a gold mine here, with C4 I did get a bit crazy adding indicator after indicator...but I have been peeling them off keeping things as simple as possible.

simple, not getting greedy, following the plan...and for me stopping when I have made my goal...which is currently 30 pips
  • #2,379
  • Jul 24, 2009 10:23am Jul 24, 2009 10:23am
Congratulations, Ian and family!
  • #2,380
  • Jul 24, 2009 10:25am Jul 24, 2009 10:25am
And for the people that don't get it (I hope you do soon), there's that old addage that, "You can lead a horse to water, but you can't make 'em drink." Do the work and adapt the basic principles into your style. I'ts a great system, but as with all greats things don't expect perfection, expect hard work!

Tribute paid, Is there someone who can tell me which page of the thread I may download the Trix Alert Signal (the arrow) that seems to show up on the price chart itself, as well as on the Trix indicator below. I've seen it on a few of the submitted charts, and although I've looked extensively, I can't locate it. Does it exist at all? Is it an independent indicator, or an option on one of the existing? It would really be the icing on the cake.

Thanks to everyone in advance for all the hard work that's gone into creating such a great basic system. Truely as good as they get in this market, and I mean that with respect and admiration...... Pip
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