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C4 Scalping

  • #2,701
  • Jul 26, 2009 12:39pm Jul 26, 2009 12:39pm
Quoting Jimmy Jones
I agree, and have already taken it off my Renko charts. It seemed to filter out a bad trade every once in awhile on a time based chart, but through all of my back testing this weekend I have not seen one instance where the lwma was helpful as a primer on the Renko chart.

I also wanted to throw out there the difference I have noticed between an MT4 broker and Oanda. In my opinion it would be insane expecting to get a full target (ie. 10 pip target) if trading with an MT4 broker, as they tend to re quote and slip like crazy. However on Oanda...
I will only isolate the statement and, hard as it may be, reserve comment.



Regards.
  • #2,702
  • Jul 26, 2009 12:47pm Jul 26, 2009 12:47pm
Quoting SwingMan
Ok, thanks, here in the forum I must live with the American humor , but I'm a bit tired. In my answer to 4xStar in german, I wrote that I had worked up to five clock in the morning to the indicator...
There may be a time in the not so distant future that many here will actually meet face to face.

Would that not be the perfect culmination of a very good thread indeed.

I for one would love this possiblity to become a reality. All it takes is money and a passport to travel internationally. We are slowly headed in the right direction.

Regards.
  • #2,703
  • Jul 26, 2009 1:00pm Jul 26, 2009 1:00pm
Quoting SwingMan
Ja, ja, ja! Das ist das zweite mal wann mir das passiert, und das ist wenn ich müde im Kopf bin. Was glaubst Du was mich gekostet hat an den Indi zu arbeiten? Bis 5 Uhr heute früh!
Hey, save some energy for your NASA work .. we don't want those rockets falling out of the sky

Deine Bemühungen sind recht viel geschätzt.
******************* I'd rather make money than be right.
  • #2,704
  • Jul 26, 2009 1:01pm Jul 26, 2009 1:01pm
Quoting nmaqba
Perfectly living up to your name, Angus.
What's the point of personal attacks ... against, by, or in defence of Edge, or anyone?

Lets just get on with learning and trading!
  • #2,705
  • Jul 26, 2009 1:19pm Jul 26, 2009 1:19pm
I agree 100%
Quoting nsteve
What's the point of personal attacks ... against, by, or in defence of Edge, or anyone?

Lets just get on with learning and trading!
  • #2,706
  • Jul 26, 2009 1:22pm Jul 26, 2009 1:22pm
Swingman, I venture to say that most all here agree that you are the master of indicators, in addition to being one of the nicest guys around. Working till 5:00 AM on an indicator just to help others is amazing, considering the fact that you don't even trade yourself.
Quoting SwingMan
Ok, thanks, here in the forum I must live with the American humor , but I'm a bit tired. In my answer to 4xStar in german, I wrote that I had worked up to five clock in the morning to the indicator...
  • #2,707
  • Jul 26, 2009 1:25pm Jul 26, 2009 1:25pm
Hi,

Thanks Edge and all other contributors. I previously followed the other thread till it went quiet, and then I have been away for a while............. surprise! this new thread has come into existance at an amazing fast pace.........and now I'm trying to get up-to-date on all the posts. What a great introduction; when next I hit buy / sell, I will definitely expect the KER-BOOM! effect. Edge, thanks for a v-good strategy, and a great set of tools.

Best of good fortune to all.

Andy
  • #2,708
  • Jul 26, 2009 1:27pm Jul 26, 2009 1:27pm
Quoting 4xStar
Hey, save some energy for your NASA work .. we don't want those rockets falling out of the sky
No problem, I work during the day in a secret underground bunker, with tied eyes so even I do not know what I do.
  • #2,709
  • Jul 26, 2009 1:39pm Jul 26, 2009 1:39pm
Quoting paradoxical
...in addition to being one of the nicest guys around. ...considering the fact that you don't even trade yourself.
Thanks @paradoxical!

I have already written that I am a very old man, and can no longer work as in my youth. At the time, 8 hours in the day I alternate programming in Delphi, Java, C++ and often PHP, and in the evening it is difficult to switch on trading.
  • #2,710
  • Jul 26, 2009 1:46pm Jul 26, 2009 1:46pm
Swingman,

we all highly appreciate your innovative indicators, keep up the fine work

Alles ist am spitze!

PC

I have already written that I am a very old man, and can no longer work as in my youth. At the time, 8 hours in the day I alternate programming in Delphi, Java, C++ and often PHP, and in the evening it is difficult to switch on trading.[/quote]
Less is more...
  • #2,711
  • Jul 26, 2009 1:51pm Jul 26, 2009 1:51pm
Hi All

Now everyone has the latest toy and is looking forward to the trading week, I would just like to sound a note of caution.

I fear that a number of folk are going to get a nasty surprise when they start trading Renko live. In some ways, Renko is a repainting indicator in the sense that it looks a whole lot better in hindsight than in actual trading.

Take a look at the attached chart. You can see that the last candle has a long wick. In fact, all the candles on the chart had wicks when they were the current candle. But as soon as a brick is closed, the Renko algorithm throws the wicks away.

So what you see appears to be a beautiful chart of super-smooth PA, whereas in fact that is not what happenned at all.

Remember that for a 10-pip chart, if the last brick closed UP then the PA has to go 10 pips up or 20 pips down before the next brick closes. This has huge implications for SL, especially in light of the fact that many MT4 brokers have a minimum SL/TP of 10 pips on most instruments. Unless you control the trade either manually or via a trade management EA, this could be a problem.

Renko charts look lovely in hindsight but they are by no means the grail!!

Anne
Attached Image
  • #2,712
  • Jul 26, 2009 2:04pm Jul 26, 2009 2:04pm
Quoting TudorGirl
Hi All

I fear that a number of folk are going to get a nasty surprise when they start trading Renko live.

Remember that for a 10-pip chart, if the last brick closed UP then the PA has to go 10 pips up or 20 pips down before the next brick closes. This has huge implications for SL
Is this why you were using a 5 pip brick (in previous posts)?
  • #2,713
  • Jul 26, 2009 2:04pm Jul 26, 2009 2:04pm
Quoting SwingMan
Thanks @paradoxical!

I have already written that I am a very old man, and can no longer work as in my youth. At the time, 8 hours in the day I alternate programming in Delphi, Java, C++ and often PHP, and in the evening it is difficult to switch on trading.
hallo Swingman,
wollte dir nur eines mal sagen, DANKE ! für deine tolle arbeit. manche leute sind auf der suche nach einem indicator den es nicht gibt.

weiter so und viele grüße aus münchen.
  • #2,714
  • Jul 26, 2009 2:08pm Jul 26, 2009 2:08pm
Quoting 45Fxguy
Hi DxTrade,

I think your indi will be complete if you add just one more thing.

1 min CCI (14) + 1 min CCI(50) = total/2
when negative display numbers in red, positive in green, or let user choose the
colors & or time frames.
Where does this calculation come from?

"1 min CCI (14) + 1 min CCI(50) = total/2"
/ ... clarifying decisions ... /
  • #2,715
  • Jul 26, 2009 2:10pm Jul 26, 2009 2:10pm
I agree. Thank you, Swingman!

Quoting pipcruiser
Swingman,

we all highly appreciate your innovative indicators, keep up the fine work

Alles ist am spitze!
  • #2,716
  • Jul 26, 2009 2:13pm Jul 26, 2009 2:13pm
Quoting nsteve
Is this why you were using a 5 pip brick (in previous posts)?
Yes - but I have changed this on Edge's advice. Luckily, with Renko the whole boring "What timeframe should I trade" debate goes away.

But only to be replaced by the debate over brick size. This is quite critical. Make the bricks small and, yes, you pick up reversals very quickly which is good for SL, but you get faked with loads of false signals. Make the bricks large and you get less false signals but SL is a problem.

The "correct" size is a function of the square-root of the volatility, as well known from random walk theory. Hence my "quadratic" counting scheme.

But I don't want to get into this here as too many facts deeply upset some people so I will lie low and see how we get on for a while...

Anne
  • #2,717
  • Jul 26, 2009 2:30pm Jul 26, 2009 2:30pm
Hi Fibofuzi,

ich bin keine 60 Km von Dir entfernt! Viele Grüße aus Achenkirch.

Nick
  • #2,718
  • Jul 26, 2009 2:32pm Jul 26, 2009 2:32pm
Quoting Edgetrader
100% strike rate? At what TP level? +10? Does that include spread? What about slippage? Did you run this by 6 other forums for a consensus? All credibility just went out the window. What order type is used? Who the heck is going to buy that? Not even a performance report? Where are your trading account statements? How long have you traded this methodology? How many books are written on this? Is my broker going to allow this type of trading? Will this give me too much of an 'edge'? Has this been back-tested? Forward tested? Which TF do we trade?...

hahahaha, sarcasm with humour thrown in. makes 4 a good laugh on a slow sunday.
  • #2,719
  • Jul 26, 2009 2:40pm Jul 26, 2009 2:40pm
Quoting Edgetrader
There may be a time in the not so distant future that many here will actually meet face to face.

Would that not be the perfect culmination of a very good thread indeed.

I for one would love this possiblity to become a reality. All it takes is money and a passport to travel internationally. We are slowly headed in the right direction.

Regards.

i 4 one would like it 2 become a reality too. making friends who share the same interests. u can travel at the same time. then when u finally meet the friend. who u don't know personally but already know online. what a feeling it would be!!
  • #2,720
  • Jul 26, 2009 2:40pm Jul 26, 2009 2:40pm
Quoting TudorGirl
The "correct" size is a function of the square-root of the volatility, as well known from random walk theory. Hence my "quadratic" counting scheme.

But I don't want to get into this here as too many facts deeply upset some people
Maybe some are upset. Others, like me, like to understand why we are doing what we are doing. Learning from experimenting is good, but so is a sound theoretical framework. It's the old theory vs praxis debate.

So ... please can we have both?
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