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C4 Scalping

  • #2,841
  • Jul 27, 2009 6:13am Jul 27, 2009 6:13am
Quoting webicknell
Chris, good trades....
Looks like you are using a 2 minute chart....
How (if you are) are setting your SL on these?

Had 4 quick trades and am 50/50... with spreads, I am on the negative side, but still learning.

Wayne

Hi!
It seems to me that you have not read the thread

Without any offense...this is my best advice: "read the thread"...
I know that 190 pages are so much...but it's the only way you can profitably know, learn and enjoy this strategy.... all i do in my trades is written in this thread...
It is not a 2 minute chart but a renko chart, and no...i'm not setting any automated stoploss...i'm focusing on my gains...not on my losses... (Edge's school)...
If i have a signal in the opposite direction...or if i feel that the price is not doing what i want...i exit...
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,842
  • Jul 27, 2009 6:17am Jul 27, 2009 6:17am
Not transfered to Renko yet.....will give C4 another couple of weeks as seem to be getting the idea.

Watching PA took these 2 as the 5M Trix had been coming down, just about made the 0 on the EUR/USD and had a good signal on the EUR/JPY. Both going the same direction so happy with the early entry.

+5 and +5 in less than 30 seconds from open to close!

Traded on the AUD/USD and EUR/USD earlier, not so quick but still + so

+20 for the day on 4 trades.
+30 the goal so 2 more trades and i'm there

Thanks Edge,
Waddij
Attached Image (click to enlarge)
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  • #2,843
  • Jul 27, 2009 6:26am Jul 27, 2009 6:26am
Trading from Renko chart has been quite an amazing experience... I have been very busy today with my other responsibilities but in between I have managed to spend sth like 3 x 20 minutes with my charts. Overall opened 7 positions, all won.
I use a simple method - open a position, set TP 10 pips and SL 20 pips and forget it. And I still use 5-pip bricks and 15-min Trix.
Now I promised to myself that I will not trade any more today to avoid overtrading...
  • #2,844
  • Jul 27, 2009 6:29am Jul 27, 2009 6:29am
Quoting Chris_B
Heeeeere it is......

another 5pips explosion in just 1 minute trade...
Chris, by the way, I use almost identical setup, but my
Super Trix 4 Col set to (2,E,E,E) for 2 min Renko chart
It triggers exactly where it should.. Thanks for your help!
Attached Image (click to enlarge)
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Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #2,845
  • Edited 6:44am Jul 27, 2009 6:31am | Edited 6:44am
Thank you Chris, although I have read much of this thread, I have not focused on Renko...
I will say that before 3 days ago, I did not look at this thread, but have spent many hours of time this weekend.
Very impressed with the material and the contributing participants.

I will spend more time to catch up before it runs away from me...

Thanks again to Chris, Edgetrader and many others.

Wayne

Quoting Chris_B
Hi!
It seems to me that you have not read the thread

Without any offense...this is my best advice: "read the thread"...
I know that 190 pages are so much...but it's the only way you can profitably know, learn and enjoy this strategy.... all i do in my trades is written in this thread...
It is not a 2 minute chart but a renko chart, and no...i'm not setting any automated stoploss...i'm focusing on my gains...not on my losses... (Edge's school)...
If i have a signal in the opposite direction...or if i feel that the price is not...
  • #2,846
  • Jul 27, 2009 6:38am Jul 27, 2009 6:38am
Best of both worlds. Indicator arrow on the Renko (Thanks to SwingMan) and all nicely above the 12 LWMA, easy 4 x 5 pips
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  • #2,847
  • Jul 27, 2009 6:38am Jul 27, 2009 6:38am
Maybe if I switch to candles we will get a better picture of my trades.
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  • #2,848
  • Jul 27, 2009 6:41am Jul 27, 2009 6:41am
Quoting gerry berard
Maybe if I switch to candles we will get a better picture of my trades.
Just eyeballing your trades you have to be using at least 50-60 pips stoploss. Is this correct
  • #2,849
  • Jul 27, 2009 6:52am Jul 27, 2009 6:52am
Quoting luckylady
This should help: http://www.forexfactory.com/showthread.php?p=2882747#post2882747

Thank you, LuckyLady. I have read Swingmans explanation, but am still not sure what the advantage is over regular HA candles.
If SwingMan could explain it one more time, that would be great!
Trading Makes Money!
  • #2,850
  • Jul 27, 2009 7:00am Jul 27, 2009 7:00am
Quoting TudorGirl
Me, joke? I would love to know how you define the kurtosis of a distribution where you cannot even define the variance, other than through the Fourier transform of its generatiing function!

Anne
Clearly you have no idea how remarkably boring the life of a trader can be.

'Tis is a toughy.
To answer your question indirectly, I would be inclined to eyeball the actual 'vector space' and trajectory with a firm belief in market inefficiencies (a relative skewness).
In part my concern was that of not enough skewness( tail risk).
ie. Market is 'net short' trend is down, surprises are to the upside.
Possibly, not enough risk!



Keep up the good work and have a good one.
  • #2,851
  • Jul 27, 2009 7:02am Jul 27, 2009 7:02am
Quoting Cencored
Thank you, LuckyLady. I have read Swingmans explanation, but am still not sure what the advantage is over regular HA candles.
If SwingMan could explain it one more time, that would be great!
Basically its the same thing as looking at the trix to save having it on your chart. The candle turns red when the trix goes below 0 and green when above. If you put the smSuper Trix_PV_4col on your chart and also the swingman candles you will see what I mean.
  • #2,852
  • Jul 27, 2009 7:14am Jul 27, 2009 7:14am
Hi all, know where I can download Renko thanks MUCHAS GRACIAS
  • #2,853
  • Jul 27, 2009 7:14am Jul 27, 2009 7:14am
As I stated before most of the time I do not use a fixed stop loss. I have a mental stop loss in case of problems but I read a post of FF that some of us do not use any stop losses we just wait for the price to come back around. Is that a good idea? Works for me but I am not advocating this style of trading.
  • #2,854
  • Jul 27, 2009 7:18am Jul 27, 2009 7:18am
Here's an odd thing. On GBP/USD, my renko chart is haywire. I set the blocks at 14 & you can see the first half are all even. After that, they are various sizes. Only happening on GBP/USD. The other pairs I have it on work fine. Also doesn't matter what length I make the blocks on GBP/USD. could be 5 or 10 or whatever. The historical blocks are fine, but the subsequent ones aren't.
Anyone know what may be wrong?
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  • #2,855
  • Jul 27, 2009 7:20am Jul 27, 2009 7:20am
Quoting gerry berard
As I stated before most of the time I do not use a fixed stop loss. I have a mental stop loss in case of problems but I read a post of FF that some of us do not use any stop losses we just wait for the price to come back around. Is that a good idea? Works for me but I am not advocating this style of trading.
It would take a large account and small risk to be able to do that. Someone for instance who put in a buy on the EUR/USD when it hit 1.6035 would still be waiting an extreme I know but can happen.
  • #2,856
  • Jul 27, 2009 7:22am Jul 27, 2009 7:22am
Another trade changed to candles to better see what happened.
Attached Image (click to enlarge)
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  • #2,857
  • Jul 27, 2009 7:24am Jul 27, 2009 7:24am
Hi CAZ. I found that this system is so good that most of the time when the primer and trigger are hit I just get in the trade.
  • #2,858
  • Jul 27, 2009 7:27am Jul 27, 2009 7:27am
I trade with the line chart. I don't use candles. When the PA crosses and TRIX is triggered I go in. I only switch to candles to post my charts.
  • #2,859
  • Jul 27, 2009 7:30am Jul 27, 2009 7:30am
Quoting Chris_B
Here an update of my +5 pips shots....

Edge...I don't know if this is a mini nitro.... but...

9 trades...9 wins...100% wins...
Hi
What are your entry rules ?

Thanks
Make money Not pips
  • #2,860
  • Jul 27, 2009 7:31am Jul 27, 2009 7:31am
I only use the primer and trigger.I watch the 3 ducks indicator to see the trend.When the 3 ducks line I know it's a good trade.
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