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C4 Scalping

  • #2,461
  • Jul 24, 2009 1:33pm Jul 24, 2009 1:33pm
Quoting tommyd
[...]

Just because there are 100 indicators posted doesn't mean you have to even look at them.
Personally I have seen no one post anything that make much in the way of improvement over Edges original post.

[...]
Indeed, Tommy, indeed! As Edge says, hopefully the inevitable "indy envy" phase is now over and we can move on. I cannot tell you how excited I am by the prospects for what we should learn in the near future!!

I always used to look forward to weekends -- now I look forward to Mondays!!!

Anne
  • #2,462
  • Jul 24, 2009 1:43pm Jul 24, 2009 1:43pm
from post 2420, pg 162

OK,

Now that we have that 'Nitro' thing out of the way, two things are most likely going to happen.

Anne ('TG') has already informed everyone that the store bought version works fine. Still waiting to see if anyone is going to share that with me so I can finish up the MT4 stuff. If not, no big deal. Is for your benefit as what I use serves well to start with.

hope some1 will share with edge what he mentioned above. so that we can see what edge has in store 4 us.

Anyway, many are going to go get the thing and that is fine. This is a progression type thread and you will end up there sooner or later.

Or, we have seen plenty of trades and PA variations to know we have a pretty good plan in place as it stands.

Can use bread and butter candlesticks and still use C4 at +5 or +10 and blow the hell out of stuff when the time is right.

edge is right. we can continue to trade his simple c4 scalping if it works 4 us. different folks, different strokes. use what works 4 u.

Not sure where this thread will head at this time. As such, I think we (I) will just continue to use base C4 on here and see if we cannot get a few more involved and work on getting TRADING down to nothing more than a reflex action.

edge, it is up 2 u. just my humble suggestions. u have stirred the hornets nest. by revealing your own trading plan, coupled with unbelievable results. i believe your pm is gonna explode.lol

u have arouse everybodys interest on renko. as such, questions on renko will increase. as such, this thread may deviate and become diluted.

either u let this thread become a renko discussion thread from next week onwards. or u can open a new thread on renko. otherwise, u can permit members who just want to discuss your c4 scalping plan 2 open a new thread. solely 4 the discussion of it.

I think the indi envy period has passed so perhaps we will see a few days of trading next week with a boatload of charts posted. Maybe in a couple of weeks we can re-evaluate our efforts as we will be able to isolate many of the potential pitfalls some are having and work to resolve those particular issues.

Hope everyone is pleased overall with thread content and plan usage. Need to convince a few more longer TF traders on the merit of this, but that is my problem.

edge,judging by the # of thank yous. i think you can be assured that people r happy n very appreciative. of the efforts n info u shared with us.

say edge, would u consider setting up another thread just 4 the discussion of trading? not about trading plans or systems, just about trading aspects. it can be a Q&A thread on trading. thanks

Thanks for a good week and the increased participation. So sense being a 'wallflower' here. If you have a question please ask. However, make sure you have read the thread a bit before asking basic material questions as they are probably going to be low on the totem pole for response.

Have a good weekend.

Regards
  • #2,463
  • Jul 24, 2009 1:47pm Jul 24, 2009 1:47pm
Quoting JazzmanQ2
Although the primer and detonator have been tweeked, I for one, am trading exactly as outlined on the opening page.
From the beginning Edge told us that this system would evolve as we became proficient traders and earned more "upgrades" to the original system.
I have faith that Edge knows where he is taking us and is in complete control of this thread....
I agree...

Look back over the past couple of weeks at the distance we have all traveled... Personally, I have gone from a noob that hasn't been able to grasp (or perhaps, find) a decent concept in 18 months of playing this game... To someone who can (for the first time ever) trade with a magical ingredient that money can't buy, and only expert teaching can bestow: CONFIDENCE!

This is ulcer free trading... Its fun. Its exciting. And its causing all of us to stretch and grow in directions we never thought possible. This process is bound to be uncomfortable at times... When you have been doing something 'wrong'* for a long time, doing it 'right' feels weird for a time...

As for a diversion from Page #1, trust the teacher... Edge is obviously taking us on a journey. One that requires us to crawl before we can walk. We haven't even worked up a sweat yet, by the sounds of things...

How many of us will ever be able to look at a chart the same way we used to in June?

If the 'change in direction' of this thread is flustering anyone, my professional advice would be to go make yourself a nice cup of something hot, and sit down with the thread from page one over the weekend, and put it all back into perspective.

Also, I would suggest that it might be a good idea if everyone got seat belts installed on their office chairs... I have a funny feeling that Jedi Master Edge is going to Zen us out some more in the coming week, and take what is already a very profitable system in its own right and make it look like child's play...

Once again, I sit here at my computer, on the edge of my seat... But this time, I am not fretting about a trade reversing on me, but rather, I simply can't wait for the next exciting installment...

Good luck to all, have a great weekend...

Russ

(* When I say 'wrong', no inflection is implied that anyone who trades anything else is 'wrong'. In fact, there is no 'right' and 'wrong', only 'different'. My point here is that Edge's system is 'different' in as much as it is profitable, hassle free, and simple. The guy is a Zen Jedi Master... I am happy to trade his 'different' strategy, because it works.)
How do you make a small fortune in Forex? Start with a large one!
  • #2,464
  • Jul 24, 2009 1:55pm Jul 24, 2009 1:55pm
Quoting TudorGirl
Hi Everyone

My latest setup. Even the Trix has gone. It is not needed as it simply duplicates the crossing of the MA by the Renko bricks.

If it got any more simple, I would have to take the price off the chart and then I would just have a nice clean, KISS, gray area with ..... nothing!!

(Except a nice picture of a bomb!)

Anne
Hi TG , nice work. What is line in this chart, and nice pic of bomb what indicate ,plz explain, i apologyse for my bad english(FROM TARIQ)
  • #2,465
  • Jul 24, 2009 2:07pm Jul 24, 2009 2:07pm
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 trader...
The only thing I have noticed, and Edge mentioned this already, is that the PA is moving back and forth across the MA and ranging. Also I noticed that during this time more than 50% of the candles are well over 10pips in size and usually, in my experience, this indicates things are ranging and that quick retraces will occur more often than not. I do admit I miss some moves by not trading off of large candles, but it keeps me out of more bad that it does keep me out of good moves. I have had my shares of ups and downs with this methodology, but I am still in the blue overall despite my own mistakes.
  • #2,466
  • Jul 24, 2009 2:08pm Jul 24, 2009 2:08pm
Quoting SwingMan
Here the combination...
.
Thats the setup I'm using, the sm trix candle is amazingly visual!

Pardy
  • #2,467
  • Jul 24, 2009 2:11pm Jul 24, 2009 2:11pm
Edge,
Thanks for the Nitro.

Wow, now that I have seen the Nitro (and it is what I thought it was going to be), I am going to need a faster CPU to run the true Renko Script/EA on four MT4 charts etc plus supporting my live trading platform.

I have no doubt it will be worth every penny.

Ian
  • #2,468
  • Jul 24, 2009 2:24pm Jul 24, 2009 2:24pm
For those using or who want the Renko script. I have spoken with the seller a few times, if a bunch of people really want it, get together and do a group buy of the source code version for $100 US, he is OK with this being used by more than one person, but he will only provide support too that person, but then again with the source code one could replicate it and it doesn’t matter after that. Hell I would pitch in close to a quarter of that if there was someone trusted enough to do the buy for the group.
  • #2,469
  • Edited 3:14pm Jul 24, 2009 2:43pm | Edited 3:14pm
6 pip max (3/2 pip blocks). Long/Short taken above/below 32 lwma. Entry above 8 zlma with trix color confirmation. s/l behind zlma. Only 3 block maximum. If trade runs away, so be it.

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  • #2,470
  • Jul 24, 2009 2:44pm Jul 24, 2009 2:44pm
Quoting DETrader
For those using or who want the Renko script. I have spoken with the seller a few times, if a bunch of people really want it, get together and do a group buy of the source code version for $100 US, he is OK with this being used by more than one person, but he will only provide support too that person, but then again with the source code one could replicate it and it doesn’t matter after that. Hell I would pitch in close to a quarter of that if there was someone trusted enough to do the buy for the group....
More than happy to cough for this... How do we organise it?
How do you make a small fortune in Forex? Start with a large one!
  • #2,471
  • Jul 24, 2009 2:58pm Jul 24, 2009 2:58pm
Quoting kristjantelve
And see what?

Kristjan
With that way, you can load new bars to your chart. I thought that was your problem(not enough bars)

John
  • #2,472
  • Jul 24, 2009 3:01pm Jul 24, 2009 3:01pm
Hi Everyone

My initial approach is very simple. Just a 5-pip Renko and a 12LWMA.

I wait for 1 brick CLEAR of the line. Then I enter in the appropriate direction. I aim for 2 bricks (10 pips less 2 pips spread = 8 pips).

I will allow a 1 brick retrace but no more. I have marked the bricks I scalped on the chart with yellow. Hope it is clear.

Anne
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  • #2,473
  • Jul 24, 2009 3:06pm Jul 24, 2009 3:06pm
No trades to post today. Have been traveling
  • #2,474
  • Jul 24, 2009 3:15pm Jul 24, 2009 3:15pm
still mastering c4 method, need to start trading it at proper time only, cant wait till monday
  • #2,475
  • Edited 3:49pm Jul 24, 2009 3:33pm | Edited 3:49pm
Quoting DETrader
For those using or who want the Renko script. I have spoken with the seller a few times, if a bunch of people really want it, get together and do a group buy of the source code version for $100 US, he is OK with this being used by more than one person, but he will only provide support too that person, but then again with the source code one could replicate it and it doesn’t matter after that. Hell I would pitch in close to a quarter of that if there was someone trusted enough to do the buy for the group....
Hi,
I have just bought Renko (source version). Whenever possible, I prefer to have source codefor anything important to me.

Cost an extra 100 Euros i.e. 130 Euros all together.
Ian
  • #2,476
  • Edited 4:56pm Jul 24, 2009 3:34pm | Edited 4:56pm
Quoting Edgetrader
Well, it is what it is. The numbers are what they are. I certainly am not capable of putting out such just because I feel like it. You only see the first page of the performance report. It is quite entailed.

Have asked folks to study up on Renko in the past. When combined with Trix it is formidable. Remember, each one of those bricks is 10 tics. I am only having the 'ea' trigger entries and then I take a portion of just ONE brick. SL would be a counter direction signal. Add in a candlestick ATR reading and it is not all that difficult to operate...
Friday Greetings,

Quelle bonne surprise! Japanese binaries...this should be fun to follow...
Choleric results I read...nice.


I'll paraphrase the 'art of war' for the 'SOB' periods
- If your opponent is of choleric temper,seek to irritate him. Pretend to be weak, that he may grow arrogant.


Have a great one.

The PA guy.
  • #2,477
  • Jul 24, 2009 3:49pm Jul 24, 2009 3:49pm
please help as i am not very computer literate (could build you a house with my eyes closed but computers or the internet wow)have been tring to find this magical renko indi on internet but get lost in the battle field not knowing if its the right renko or wrong one if someone could pm me the site to purchase this magical japanese indi would be highly apricative
thanks in advanced

am currently trading the orginal with addition of 15min MTF trix and results have evn turn the wife to thinking of trading and she is the biggest skeptic as blew first account (small while learning)

ps edge you are a lifesaver
  • #2,478
  • Jul 24, 2009 4:05pm Jul 24, 2009 4:05pm
Also for those that don't wish to purchase the Renko script, the VT Trader platform (free, CMS forex runs it but the main site also has a demo account) and FXSol's Accucharts package also has Renko charts built in. As always their demo account feeds are free, and it is a cheap way to get Renko if you dont mind using another platform other than MT4 for charting. As a side note, both platforms include TRIX as a standard indicator.
  • #2,479
  • Jul 24, 2009 4:11pm Jul 24, 2009 4:11pm
TG, I thought Gerry Beard had a simple template until I saw yours. Kudos.
Quoting TudorGirl
Hi Everyone

My initial approach is very simple. Just a 5-pip Renko and a 12LWMA.

I wait for 1 brick CLEAR of the line. Then I enter in the appropriate direction. I aim for 2 bricks (10 pips less 2 pips spread = 8 pips).

I will allow a 1 brick retrace but no more. I have marked the bricks I scalped on the chart with yellow. Hope it is clear.

Anne
  • #2,480
  • Jul 24, 2009 5:41pm Jul 24, 2009 5:41pm
Have taken a look at the mlq and TS (my) Renko setups with 10 tic blocks and there is a bit of difference as expected.

However, it remains to be seen until Sunday live feed as to whether or not this is going to be significant. My initial thought is that either will work, you just have to do as we always do. You do what?????

Yep!!! IMPROVISE ADAPT OVERCOME.

There is also no doubt that more indi's can be eliminated via Renko!!!

Have a look at the charts and see for yourself. Put your thinking caps on, review the discrepancies and ascertain its value to you as compared to C4.

'THINK REAL HARD' as the avatar states. But not too hard.

Regards.
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