C4 Scalping

Just closed out my last trade manaully as I am getting tired. Took 3 pips on this last one.

Having in mind the less is more concept i would like to point out the following statements from Edge himself:

1- As such, I focus on getting into a trade as quickly as possible and shooting for the +10's as
fast as market PA will allow. If fortunate enough to hit this on an opening set of trades, I am
done for the day. Again, I am done for the day. I have some things to do that interest me more
than looking a gift horse in the mouth and allowing him (Forex Market) take back what has so
generously been provided. That is just what I do.

2- Also, the previous posting on +5 materials was next weeks progression. No matter. If you can
gain proficiency at reading and trading these signals and getting +10's, how much more
proficient will you be at getting +5's.

3- In the end, you need only a primer and detonator same as always. It is a numbers game on the
5m as mentioned several times. The more pairs monitored, the more trading opportunities to
avail yourself to. With some diligent effort, we will quickly become adept at recognition,
implementation and completion of a trade based upon our preferred indi combination. The
+10's will remain a challenge at times. but are very useful TP targets at this early stage.
As we progress, and start developing a real understanding of the minor probability theory
aspects involved in short term trading, your trading will become less and less emotionally
traumatic as more and more +10's are captured. Natural evolution when trading this
methodology will eventually lead to it becoming akin to 'boring'. THAT will be a significant
hurdle to have been jumped. Afterwards, the real number crunching will begin as you start the
'less is more' developmental stage.

4- I am admittedly saddened that so many cannot 'improvise, adapt and overcome' with a
5m plan of ridiculous simplicity. Very few, and I mean very few, have figured out
through trading efforts this past week (and some easy backtesting) that the 'higher
explosive' (C4) lies not in the trading plan, but within your trading ACCOUNT. The
+10's were but a somewhat realistic TP level on the four pairs. They do indeed happen
very often.
However, by actually focusing trading efforts, you should have found that the 'less is
more' concept really comes into effect when you raise up your lot size a bit and go to a
+5 level. All this is possible with a bit of mental discipline and faith in your trading plan.
Yeah, you need to develop your 'unemotional trading' mindset, but that was for down
the road a bit further.

5- A potential trader gaining trust in the base plan at +10 TP levels is going to get solidified
further in their thought process by dropping to a +5 level. If you were doing 70% at +10. you
will do better at +5. The C4 component is the explosion to your account value, not your pip
accumulation value.
Traders suffer one sin worse than any other, That is GREED. Is a constant battle in the
beginning to control that particular demon. Only strength of mind, focus and faith in plan, and
repetition of trades will become the magical elixir able to dispel that curse. Just my opinion
though.

So to be honest with you, after reading lots of wise advise from the master, i really couldn't care less about what is the consensus about this topic. I am seriously trying to learn from Edge because his teachings make a lot of sense to me.
Best Regards
JC
God Bl

Totally agreed with you...

hi f4mnect

How did you get the 6/1/1/1 to show up as a line?
I can put two trix in a window with different settings but I can not figure out how to make the second as a line

Is this the C4 setting you are most happy with?

thx

PGPB

I am having this problem:
when I switch on my computer and start MT4, normal chart will update but not the offline chart.

I do the following:
a. refresh M1 chart, does not help M2 offline chart
b. refresh M2 chart, does not help (because M1 didnt update the offline data file)

Verified :
a. offline property of M2 chart (checked, as expected, the box is clicked when create chart from offline data list)
b. M1 chart common tab checkbox (as required)
c. M2 chart working properly before shutting down MT4
d. offline data file (last update time not updated)
e. current price far away from 10 pips as set in renko script.

Solution at this moment:
a. delete M1 chart
b. recreate M1 chart and put renko script back on
c. after step b finished, M2 chart update automatically

Conclusion:
renko script didnot update M2 file when first started



Question:
a. As MT4 not usually shut down except at end of day, anyone have the same problem?


thanks

Try to put RENKO in EA folder instead of script folder. Should help.

The first +5 of the day

hah, i just took that same trade for +5 !!
Nice work.

can you post or PM your template where you have the two trix in the same window, I am having difficulty in getting the 0 line to line up (I know somewhere in this thread SM gave the solution, and also I would like the second trix to be just a line

thx

Natives getting restless it seems.

Started yesterday with one poster asking for information detailing EXACTLY how I get entry points. Now, we have others wanting code and script so as to obtain duplication of Nitro on a MT4. Actual decision making logic is sought to be provided so some can move through this course and attempt to trade without having to think.

All this in less than three weeks. Pretty good trade off for many. One week of M80, which was viable and effective, one week of C4 which was even more profitable, and a couple of days of Nitro. This one was not even provided. It was only shown as possible and many just ran over themselves testing and working feverishly to duplicate it. I thought it would be chaos, mentioned it in a posting and here we have the end result. Right back where we started.

This thread was unique in that many here are quite astute and capable individuals. Sure as hell am grateful for that. We all even did a bit more work today (myself included) trying to get an indicator to light up the path. Well, unfortunately it does not exist here. I think 'close' is the appropriate word and it is going to have to be enough.

I think you each has discovered the value of Renko. It certainly is worth the effort needed to have it. Very easy to trade for the most part as virtually 80% of market noise is filtered out for you. However, it takes time and patience, that is in short supply it seems.

The Trix candles are your second bonanza. Thanks to 'SM' for getting those done for the thread.

Lastly, the LWMA or HULL are pretty good, even if they do repaint a tad. Surprisingly, nobody has thought to just go to a WMA set at whatever you like. Can get that off of any ones platform and it DOES NOT REPAINT.
Got to have the traffic lights telling a trader everything though.

What would that leave you with? PA crossing and closing above a MA, a brick turning color in confirmation of a potential directional change, and even the SM Trix signal or indicator, both with nice little arrows and such, sitting there begging you to push the plunger. Remind everyone of anything?

So, now some want the MOMLE/SE so they can continue there duplication work. It is certainly available, and is in fact FREE of charge. All you have to do is go get it. You already know the source. So, if you want to trade Nitro as designed, then go get the tools it was designed to be traded with. Does not cost you anything at all. Might cost you a bit more to get set up to USE the tools, but there are ways around that for those who want to cheapen the effort. Either way, lets stop asking and start doing.

I mentioned 1000 times that, in order to do the best job, you have to have the best tools. This whole thing has been somewhat of a mind game at times. The plans are indeed quite viable to trade, all of you know that. You have to have the damn tools in the bag to trade the plan you want. And, you have to be both capable and professional enough to use those tools.

If C4 is your answer, then you have everything you need, Go trade it!!
If you think you are capable of taking a sneak preview of a plan and turning the info attached to it into your own trading vehicle, then go do it. Go get the tools needed. Stop asking for them to be provided!

Laborer, apprentice and master craftsman. Remember? As some feel they are MC's, then you need to show the experience and wisdom to go get what is right in front of you. You do not need me, you need you!

That said, I am going to refocus efforts here for those who wish. Am going back to reliable C4 trades starting tomorrow. Primer, detonator and plunger. Nothing fancy. No commentary, just visuals. Am going for 20-30 pips daily, just like always, and shutting it down. Will trade it as designed and with, what some think, is substandard tooling. We shall see.

I still have any obligation to make sure the BASICS are taught thoroughly and they have not. I put the cart before the horse and that was my fault. Am fixing that now!

Those who want to plug away at Nitro are welcome to do so. There are enough of you folks here to answer questions as they come up. Will leave that to you.

Those who want to work on quality C4 explosions, lets roll up our sleeves and get back to work. There are enough of you here that know it well enough to answer newbie questions also.

This thread should be professional enough to handle both trading plans. I will not answer any questions already addressed previously. That is for others to do if they so choose.

Yes, I realize this might fracture the thread. So what? If it starts doing so I will simply close it. There is enough information here to get anyone by for quite a while.

Whats the saying?

'You learn and you earn !!!'.

consequently,

'You learn or you burn !!!!'.

I am going to have fun with the thing, hope some stick to the thread purpose and do the same.

Lets deploy and enjoy.

Regards.

Hi Whatchee,

What I have found is that when Metatrader is shut down and restarted the Renko charts stop updating. The reason is that the renko scripts are removed from the M1 charts. The solution is to reapply the script to the M1 charts. You should not need to delete or recreate the charts ... just reapply the scripts and the M2 charts should start updating again.

Annoying, but not too bad.

Best,

As requested here the C4 Indi where you can change the MA.

But I have a stupid question: What Mode is it if you set the Ma to 8,4,6?
What Mode is 4?

Hi,

I don't know if this helps, but someone has gone to the trouble to create a PDF to make sure everyone gets this right... All the instructions are in it.

Firstly, if you put the script into the scripts folder, you will have to reload each and every time you boot up. Try putting it into the EA folder instead. That way, you will not have to reload it every time. However, you MUST ensure that the Expert Advisor button is pushed, or else, it wont work. You will find that you will have to push the EA button each time you log in, but its easier than setting up the script in the script folder again and again...

Hope this helps...

R

Thank you for your time and efforts, Edge.

Don't think he is finished.

Still needs to slap some sense into most of us.

Something about Edge's nitro and these yen crosses just keep winning. I took 10 here, closed 70% at 5 pips. I also trade normal c4 but am definitely glad to be on the renko bandwagon.

In regards to discussion above on tp/greed/market exposure.

Is there anything wrong with moving your stop losses to 5 pips after you've already reached 8-10 points, then just let it run with a trailing stop of 10 - 15 pips?
You already have a guaranteed 5 pips at least then just go pip hunting elsewhere, and let the trailing stop take care of business.

From my own perspective, I think it highly competent and prudent to take advantage of a potential trading opportunity that offers no additional risk. The 'free trade' scenario is probably the nexus of trading. Everyone wishes they could get these opportunities every so often.

Think C4 or Nitro present many of these opportunities?

Nice crystal ball you have there. Keep it under lock and key.

Regards.

Thanks.....
Great compliment coming from you.

Thanks for Jackal above,

Cactus, his suggestion works, will keep my eyes on it.

Hope his solution works for you too.

Thanks again everyone