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C4 Scalping

  • #3,141
  • Jul 28, 2009 9:10am Jul 28, 2009 9:10am
Quoting paradoxical
I believe swingman was refrring to the TRIX histogram. Load a TRIX with a setting of 3,1,1,1 as he said. When that triangle appears, check the TRIX below, and if there are at least TWO before that are up/down in the same direction, that trade has 100% success on EUR/USD
OK for example, let's say signal is up..
You mean look for 2 trix histiograms that are above zero line and contiguous? Or can there be a down histiogram between them?
And how far back do you look? If there is one long up histiogram, do you just move back until you find another one.
And come to think of it .. there will always be two up histiograms if they do not have to be contiguous....
Now I am really confused.
And .. we are talking about a renko chart? So histiogram below is still time-based? How does it relate to the bricks which are not time based?
******************* I'd rather make money than be right.
  • #3,142
  • Jul 28, 2009 9:17am Jul 28, 2009 9:17am
Dang, I missed all those lovely shorts .. must pay more attention!
******************* I'd rather make money than be right.
  • #3,143
  • Jul 28, 2009 9:24am Jul 28, 2009 9:24am
Ok...my trading day has started too bad....

I tried the last setup as Edge...with only TRIX candles and MA...but i think it's not my ideal template...
I've lost some trades...on the "beast" GBPJPY...
I know that i was risking too much using 20 lots...but i want to simulate in demo what can happen in real trading....
Can happen to lose more than 17.000 €

Then..i switched to my old template...with my "old" TRIX setted at 3...and normal renko bricks....and i gained 6.000 €....

I think Edge will not have problem if i use a different template...
The most important thing are the results....

I don't know if i'm using C4 or Nitro...probably i'm using both....but this is what i'm comfortable with...and my best way to hit a 90/100% wins...

Now i have to gain 11.660 € more to break even for today....
Attached Image (click to enlarge)
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Market is like a puzzle, YOU have to fit the pieces!!
  • #3,144
  • Jul 28, 2009 9:54am Jul 28, 2009 9:54am
Quoting SwingMan
I'm sory Peter, but you have all explanations in my last postings. Print out the texts, print out the charts and print out Edge's similar charts.
You have ALL what you need, and if you understand the logic in one hour, in one day or in one week you must do this work. (I too have needed a couple of hours to check the charts, to post for you the filtered signals etc.).

Unfortunately for some members, I can and I will not further explain the algorithms. Because this is maybe a very similar method with Edge's method,...
Thank you for your response. Sure, I will put in the work needed...I did not want to sound like a person who is willing to be spoonfed )

I respect very much what you both did and agree on every word you said. Keep up the good work.

Best wishes from Estonia,
Peter
  • #3,145
  • Jul 28, 2009 10:01am Jul 28, 2009 10:01am
For those of you who are still using the C4 program (like myself), I came up with a way to improve "seeing" the price action and anticipate the price moves. Basically, I created both an M1 and an M5 chart for each currency I watch and set all the indi's identically. I don't trade on the one minute chart, I only use it to identify how strong the price action is prior to the signals appearing on the 5 minute chart. It has really helped to eliminate false signals and it helps if you wish to re-enter for additional pips on retracements.

Below is a screen shot of The EY. The 1M chart is above the 5M chart. The orange lines marks the same time frame referenced in both charts.
Attached Image (click to enlarge)
Click to Enlarge Name: c4_EY example.jpg Size: 254 KB
4XTrader2
  • #3,146
  • Jul 28, 2009 10:08am Jul 28, 2009 10:08am
Was wonder over all how how would MT4 Renko users rate the add on script.

Was thinking of switching over from regular C4 since it seems to out perform in sideways markets, and I can't always trade those hours. I've used VT2 before and think someone mentioned that Renko is built in & no add on is required, and it also has Trix, but didn't see the platform available at FXCM any longer.
I downloaded Ninga Trader but it is much more different from either MT4 &/VT, and I don't know if Tradestation has demo to try it out first before going live.
Any thoughts?
  • #3,147
  • Jul 28, 2009 10:14am Jul 28, 2009 10:14am
I never thought I could trade with such deadly accuracy using such a clean chart, but the primer & trigger method never fails to blow sh!t up!!

Here's a few renko trades with AJ, The M80 & C4 training has made a BIG difference in the way I trade, I find that I'm entering trades before the second SM "entry" arrow appears due to the 2,E,E,E trix colour confrimation of the brick closing above / below the 8 LWMA.

Big thanks goes out to Edge & SwingMan.
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  • #3,148
  • Jul 28, 2009 10:22am Jul 28, 2009 10:22am
Been under the weather for the last few days (effects of a dodgy omlette ), but hey ho such is life. Anyway, all I can say is WOW and a very big thank you to Edge for all his wisdom and patience, and I hope he will not desert us.

Getting back to reality I see that Edge seems to be using the Yen crosses for the Nitro strategy, presumably because these have the better PA. I have a small problem and that is I use MT4 from Alpari UK on a demo account for the charting but it does not provide either the AUD/JPN or CHF/JPN crosses for active or off-line charts. Is anyone else using Alpari UK and know how of if I can get these on the chart?

Don't care about the weather I just hope it keeps raining PIPs

Nick
  • #3,149
  • Edited 10:40am Jul 28, 2009 10:36am | Edited 10:40am
Quoting Edgetrader

The detonator plunger is the color change on the LWMA. When it changes from blue to red (or visa versa) you push the plunger as the color change caused the detonator to 'go hot'.
Quite often both events happen at the same time on candle close, is there any reason not to push the plunger at that point (assuming price doesn't immediately retrace, imminent news etc)?


Nick'em, try 'Interbank FX trader 4', think you'll find they have all the pairs you need
  • #3,150
  • Jul 28, 2009 10:50am Jul 28, 2009 10:50am
@Dm3554

Quote:
Originally Posted by SwingMan http://static.forexfactory.com/forex...s/viewpost.gif (http://www.forexfactory.com/showthread.php?p=2908773#post2908773)
When you trade, repeat constantly the "OM mani padme hum" mantra, and after few weeks you can note the first changes in your trading (hopefully positive...).

SwingMan .... thank you. I will try this mantra.
_______________________________

Very good, you are on the right way of the trading enlighten!
And now I give you away the great secret how to trade successfully the Renko candles: on repeating the mantra you must all the time turn in one hand a Tibetan prayer mill! (I post a picture of my last trip in Tibet, to see what I mean.)

To better undestand the power of the mantras, I try to tell you a little story about Buddha:

Buddha comes with a small boat on an island and meets a monk there for 5 years repeated the mantra "OM mani padme hom".

Buddha asked him why he does: to be able to run on the water.

And you can do: no not yet and I do not know why...

Buddha tells him: I guess that is due to the mantra because correctly it is "padme hum" and not "padme hom".

The monk is grateful and buddha goes further with his small boat.

After a mile the monk run after him on the water and asks: how was the correct mantra, I forgot what you've told me...


Attached Image
  • #3,151
  • Jul 28, 2009 10:56am Jul 28, 2009 10:56am
Quoting Nick'em
Getting back to reality I see that Edge seems to be using the Yen crosses for the Nitro strategy, presumably because these have the better PA. I have a small problem and that is I use MT4 from Alpari UK on a demo account for the charting but it does not provide either the AUD/JPN or CHF/JPN crosses for active or off-line charts. Is anyone else using Alpari UK and know how of if I can get these on the chart?

Don't care about the weather I just hope it keeps raining PIPs

Nick

Not positive since its been a while, but if you click on "view", then "market watch" then click on "Symbols" at the bottom of the market watch screen, it should show all the pairs that they offer. Then you should be able to click on a pair and hide or show that pairing. I use Interbank and I believe this is what I did this a while ago to show everything that Interbank had to offer... Well hopefully it will help or lead ya in the right direction.
  • #3,152
  • Jul 28, 2009 11:03am Jul 28, 2009 11:03am
Quoting Chris_B
Ok...my trading day has started too bad....

I tried the last setup as Edge...with only TRIX candles and MA...but i think it's not my ideal template...
I've lost some trades...on the "beast" GBPJPY...
I know that i was risking too much using 20 lots...but i want to simulate in demo what can happen in real trading....
Can happen to lose more than 17.000 €

Then..i switched to my old template...with my "old" TRIX setted at 3...and normal renko bricks....and i gained 6.000 €....

I think Edge will not have problem if i use a different template......
Hey Chris,
Notice you use the updatestop ea.
Interested to know what kind of settings you are using on it?
  • #3,153
  • Jul 28, 2009 11:05am Jul 28, 2009 11:05am
Edge,
Aren't there two longs on this chart that are fakeouts? What would have been the loss on those two trades?

Quoting Edgetrader
All due respect to 'SM' and others, I would take a look at this Trix thing again.

As I see it, the MT4 is doing pretty well overall with Nitro. There are some differences in PA on the various platforms as is expected. Really does not matter all that much at this time though.

I think it best to use the SM Trix candles (Renko format of course) as your PRIMER (set at 2,1,1,1). As it closes above/below the MA w/applied price (set at 8,6,3) your train is moving and you also are setting your detonator at the same time as your primer. It takes both...
  • #3,154
  • Jul 28, 2009 11:11am Jul 28, 2009 11:11am
Quoting Bam Bam
Not positive since its been a while, but if you click on "view", then "market watch" then click on "Symbols" at the bottom of the market watch screen, it should show all the pairs that they offer. Then you should be able to click on a pair and hide or show that pairing. I use Interbank and I believe this is what I did this a while ago to show everything that Interbank had to offer... Well hopefully it will help or lead ya in the right direction.
Thanks ... I had the same problem and had forgotten how to make all the symbols show. You have to right click on symbols under market watch and choose Show All

I have UK alpari as one of my 3 MT4 platforms and now I can get the AJ and CH/J pairs as well.
******************* I'd rather make money than be right.
  • #3,155
  • Jul 28, 2009 11:15am Jul 28, 2009 11:15am
Remember the good old days ..Trix and LWMA.

I better dust of the old Renko system and get on the train.

Nice PA today for trading.

GBPUSD +80
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Jul. 28 17.59.gif Size: 34 KB
" Never let the past hold the future to ransom "
  • #3,156
  • Jul 28, 2009 11:16am Jul 28, 2009 11:16am
Irathi, the attached is my understanding of what Swingman was saying. Whenever the triangle appears, and there at least two TRIX histograms before the triangle in the same direction, it's a near certain 10 pip winner. This applies of course to long and short trades. The three shown happen to be short, and can occur anywhere in the run. Seems to work every time. You don't pay attention to whether or not the RENKO blocks before the current triangle appearance are red or blue. As you can see, the success with just following the diamond alone is good, but I don't know how you can get any better than 100%!!
Quoting 4xStar
OK for example, let's say signal is up..
You mean look for 2 trix histiograms that are above zero line and contiguous? Or can there be a down histiogram between them?
And how far back do you look? If there is one long up histiogram, do you just move back until you find another one.
And come to think of it .. there will always be two up histiograms if they do not have to be contiguous....
Now I am really confused.
And .. we are talking about a renko chart? So histiogram below is still time-based? How does it relate to the bricks which are not time...
Attached Image (click to enlarge)
Click to Enlarge Name: eu 7-28.gif Size: 53 KB
  • #3,157
  • Jul 28, 2009 11:19am Jul 28, 2009 11:19am
Quoting Bam Bam
Not positive since its been a while, but if you click on "view", then "market watch" then click on "Symbols" at the bottom of the market watch screen, it should show all the pairs that they offer. Then you should be able to click on a pair and hide or show that pairing. I use Interbank and I believe this is what I did this a while ago to show everything that Interbank had to offer... Well hopefully it will help or lead ya in the right direction.
Bam Bam You da man.

Initially 'market watch just showed the 10 available as per the 'New Chart' menu, however right click on any of the pairs in the market watch window and select 'SHOW ALL'. Hey presto many more appear.

Many thanks

Nick
  • #3,158
  • Jul 28, 2009 11:31am Jul 28, 2009 11:31am
1/ what is this little triangle thingy created by SM renko signals
(see image attached)
2/ I have found that trading 7am EST to 11am EST (11am GMT to 4pm GMT) to be the safest time to trade off the renko charts, which is the time recommended for C4, I would be curious what time periods others have found success?
3/ my biggest concern is SL, sometimes I will open a trade, and then it goes about 11 pips against me.....so I close it....and then it turns around and goes into profit. If I made the stop loss 20 pips....that would wipe out 4 successful 5 pip trades, I am still wrestling with this

Any suggestions would be appreciated.
Attached Image
  • #3,159
  • Jul 28, 2009 11:32am Jul 28, 2009 11:32am
Quoting paradoxical
... the attached is my understanding of what Swingman was saying. Whenever the triangle appears, and there at least two TRIX histograms before the triangle in the same direction, it's a near certain 10 pip winner. This applies of course to long and short trades. The three shown happen to be short, and can occur anywhere in the run. Seems to work every time. You don't pay attention to whether or not the RENKO blocks before the current triangle appearance are red or blue.
Very, very good explained. But, please use the 4 color Trix version to SEE if the histogram condition is fulfilled.
  • #3,160
  • Jul 28, 2009 11:33am Jul 28, 2009 11:33am
Quoting SwingMan
- If what I mean is not identical with what I say, is caused of my poor english...
- The OM pictures is one of the most powerful pictures out there.
When you trade, repeat constantly the "OM mani padme hum" mantra, and after few weeks you can note the first changes in your trading (hopefully positive...).
hi swingman
sorry but i also don't understand what do u mean by two histrogram. with your signal indicator we shudn't have trix indicator at the bottom window.. by checking two histrogram do u mean checking last two signal ?
swingman if you have trouble in english you can just post a screenshot with arrow or pointing A / b / C .. this would help us must faster to learn this process

thanks for your great work on signal indicator..


cheers
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