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C4 Scalping

  • #3,481
  • Jul 29, 2009 12:28pm Jul 29, 2009 12:28pm
Hi.... could you put HMA default setting instead of 8 WMA inside your DXTrade C4 indy ?


Quoting DXTrade
The HMA just saved me from a fake buy on EUR (see tick)
  • #3,482
  • Jul 29, 2009 12:29pm Jul 29, 2009 12:29pm
Quoting hoichoi
hii
anyone knows any good traling EA .. i guess for scalp traling EA is important.. with c4 if we trade 2 microlots and if we take half at 5 pips and thenk move SL to BE and let the other one run for big move i think we can catch some big move .. this way we might get more pips out of same trade that we are taking for 5/10 pips..

if anyone knows any .. please post..
A scalp is a scalp.

As the thread progresses, and we have many more traders developed and comfortable at trading one (1) STANDARD lot, we will at that time address a new variance to C4.

Trading at .10 per tic does nothing more than get a traders feet wet with real trading capital being at risk. This assumes you are trading 'live' of course.

Having worked so hard to get almost through the 'indi envy' phase common to all new trading system threads, I would really like to avoid the possibility of having to deal front line with 'pip envy'.

For now, the 'less is more' concept will serve well as a quasi-conditioning tool to get everyone close to the proper mindset to scalp effectively and consistently. Perhaps we should stick with the plan as set a little while longer as anything else becomes detrimental.

Regards.
  • #3,483
  • Jul 29, 2009 12:32pm Jul 29, 2009 12:32pm
Quoting lrathi
All I can say good luck... I do not share your opinions.

Please be so kind as to attach the powerful indicators she has posted with the pips you have made in a forward testing account. I have not found any to date.

I have had experienced traders PM me to the contrary and agree with my opinions. I am satisfied.

Happy trading! Lots of pips to you with TG's powerful indicators.

hi irathi,

give it a rest. 4 the sake of others n respecting the thread owner's wishes.

yes, valid points u raised. but it happens on every system thread. coders appear n share their indis. doesn't work 4 u, lousy indi?? too bad, move on.

edge is gracious enough 2 let coders or any1 else. 2 post indis n 2 share with every1 here. it's against his view of less indis is good but still he allows it. if he disallows this practice straight out on the inception of this thread. then we would never have the chance 2 use swingman's indis.

every1 is appreciative of tudorgirl, swingman n edge's time n effort here. that's why there r so many thank yous here n there. whether what they shared is good/bad or useless. it's all personal opinion n should be kept 2 oneself. instead of letting it out in a tirade n disrupting other's learning.

it is the unselfish sharing spirit that makes all so happy n appreciative of them. nothing else.

but ultimately, 1 has 2 be responsible 4 their own trading. many r happy when they find a system that works. but there's still the part of broker,mm, mindset issues 2 grapple with. 2 be successful in forex trading.

so, let's just do it n focus on the task at hand. thanks

best regards.
  • #3,484
  • Jul 29, 2009 12:40pm Jul 29, 2009 12:40pm
Quoting tex
never ever.
I agree, I have never seen a CLOSED Renko bar repaint.

I don't believe its possible, though it may seem that way if you look away for a while, because when they flip from forming Red to formed and Green (or vice versa) they usually immediately start forming the next bar they same colour as the last completed one (which was the one forming with a different colour and in a different position when you last looked at it).

Ian

P.S. When I get time I will check out Constant Range Bars- since they leave evidence of the whole of price movements. But at the moment I am still investigating various indicators on the Renko bars. I am not convinced by paradoxical's posts of 100% winners using Sm's Renko signals. One of the trades did not (to me) seem to meet the criteria, another would have required a >30 pip SL, and there appeared to be some others (not marked) which if taken would have been losers.
  • #3,485
  • Jul 29, 2009 12:41pm Jul 29, 2009 12:41pm
Try 9, 2, 3, TRUE 2, 0 for 10 pips brick.


Quoting powercouple
I have seen different settings for HMA, and I have it set at the default of 20,0,3 but I am not sure that that is the best settings for the Renko 2M. Seems a bit late. For Renko, what is the best setting that people have found for the HMA?

Thanks!
  • #3,486
  • Jul 29, 2009 12:43pm Jul 29, 2009 12:43pm
Quoting winningfx
hi irathi,

give it a rest. 4 the sake of others n respecting the thread owner's wishes.

yes, valid points u raised. but it happens on every system thread. coders appear n share their indis. doesn't work 4 u, lousy indi?? too bad, move on.

edge is gracious enough 2 let coders or any1 else. 2 post indis n 2 share with every1 here. it's against his view of less indis is good but still he allows it. if he disallows this practice straight out on the inception of this thread. then we would never have the chance 2 use swingman's indis.

every1...
Ask people to send me their comments by PM off the forum and I shall reply off the forum. My post was addressed to TG no one else!

Why ask me to stop replying... I would have thought ask others to PM me off the forum with they contary opinion!!!! Many who agree with me have PM ed me off the forum....

I am only answering the posts addressed to me on the forum. Sorry!

I am happy with TRIX and MA and C4.... I am pipping away .....150 + pips yesterday and 100+ today using C4. Renko maybe down the track....not yet for me.

My appreciation to EDGE for the strategy and Swingman for the versions of TRIX he has provided.
  • #3,487
  • Jul 29, 2009 12:49pm Jul 29, 2009 12:49pm
Hello Edge, Like most on here I understand your determination to take this through the 'Pip Envy' stage and plan for +5, exit, next trade etc. I'm sure I'm not alone in struggling with trading that plan though. As someone who has it ingrained in the head to cut losses short and let profits run it is really difficult.

It might help if we had some insight as to how the figure of 5 was reached as your optimum profit target. Would you mind giving us some background on that? Hope it's not too much of a trade secret??

rgds.

Quoting Edgetrader
A scalp is a scalp.

As the thread progresses, and we have many more traders developed and comfortable at trading one (1) STANDARD lot, we will at that time address a new variance to C4.

Trading at .10 per tic does nothing more than get a traders feet wet with real trading capital being at risk. This assumes you are trading 'live' of course.

Having worked so hard to get almost through the 'indi envy' phase common to all new trading system threads, I would really like to avoid the possibility of having to deal front line with 'pip envy'.

For...
  • #3,488
  • Jul 29, 2009 12:55pm Jul 29, 2009 12:55pm
Hi Everyone, having read a lot of the posts can I just ask someone to let me know when you have found "it" whatever it may be. It seems to be a frantic search at the moment. Good hunting to everyone.
  • #3,489
  • Jul 29, 2009 12:56pm Jul 29, 2009 12:56pm
From Lanoster "P.S. When I get time I will check out Constant Range Bars- since they leave evidence of the whole of price movements. But at the moment I am still investigating various indicators on the Renko bars. I am not convinced by paradoxical's posts of 100% winners using Sm's Renko signals. One of the trades did not (to me) seem to meet the criteria, another would have required a >30 pip SL, and there appeared to be some others (not marked) which if taken would have been losers."

I'm in a trade as we speak. Chart below, based on Swingmans observation that was "when a triangle appears and the two histograms on the 3,e,e,e, trix were in the same direction, it's good for 10 pips", or words close to that.
This trade is at a lousy trading time, and the downward run has been going on a long time, so it should be a good test of his observation. My entry was at 1.4012, and I need to get to 1.4000, so we'll see.
As far as a 30 pip drawdown/stop, you're probaly right on that. But, at 100% hit rate, I'd take a 50 pip drawdown/stop.
I have no stop set on this trade, and would close it if it went thirty something against me. It already did go about 15 against me.
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  • #3,490
  • Jul 29, 2009 1:07pm Jul 29, 2009 1:07pm
Quoting ianf0ster
I agree, I have never seen a CLOSED Renko bar repaint.

I don't beleive its possible, though it may seem that way if you look away for a while, because when they flip from forming Red to formed and Green (or vice versa) they usually immediately start forming the next bar they same colour as the last completed one (which was the one forming with a different colour and in a different position when you last looked at it).

Ian

P.S. When I get time I will check out Constant Range Bars- since they leave evidence of the whole of price movements....
It would seem improbable indeed.

As some may be aware, during initial Renko search it normally shows Renko blocks to be 'black' singularly colored and not dependent on direction color to trade. As they are only PA oriented, they are not designed with direction in mind, just showing developing PA as it occurs.

Further, while they are adept at noise reduction, their primary usage was to easily identify S/R areas and to show developing trend. This was obviously for position traders initially, and as markets developed, accommodated swing traders as well.

This scalping methodology has, for some time now, been thought of as counter to long established trading philosophy's in general. Profit expectancy is usually the foundation for a decent trading plan and has been so for some time. We are trying to qualify this methodology further within this thread, and seemingly are making some progress. However, it is fully understandable how looking at a trade with a potential R/R of 5:1 seems ludicrous.

Yep, we are just a bunch of 'mavericks' here. However, as time goes by, the success achieved by many here will speak volumes within the industry as a whole. Nobody likes change and everyone seemingly struggles against such. However, change is inevitable and we have the opportunity to present a viable alternative to long standing traditions. Thus we explore further probability theorem trading. Definitely not as well established as PE, but is already validated none the less. Sometimes, change is actually good. Especially when it presents a potential opportunity for many individuals to actively ply their trade in a consistent and profitable manner. We shall see.

Regards.
  • #3,491
  • Jul 29, 2009 1:12pm Jul 29, 2009 1:12pm
Not sure how as it uses another indicator and doesn't actually draw the arrows itself. I can't enter into a long debate but wish you well.


Quoting Pat1
This is one way of getting value for the arrows

Pat
  • #3,492
  • Jul 29, 2009 1:22pm Jul 29, 2009 1:22pm
Quoting Gleneagles
Conservative setting 5M TF

Trix 3 1 1 1
Trix 7 1 1 1
LWMA 12 6 3


Re-entries possible using Trix 3 1 1 1 in the direction of Trix 7 1 1 1.


Aggressive setting 5M TF

Trix 3 1 1 1 or Trix 4 1 1 1
LWMA 12 6 3 or 8 6 3

More entries but more possible false signals, best for ranging pairs with deeper oscilation and active PA.

Regarding 15m and 30m TF...sure you can use it. I have been using 30m Trix in a trading system for quite a while. GBPUSD GBPJPY EURJPY since April 2009 , 7800 pips. 1-3 trades only per day/pair. Strike rate approximately...
Thanks for your quick answer..

Please tell me for what do you use that LWMA?

What is your TP on 5 min...? 10 pips plus sperad or 10 pips with spread?

What is TP for 30 min and 15 TF

Those are my last questions
When you said that WLMA 12 , 6 , 3

MA Period 12
MA Type 3
MAA aPlaied price 6???

Regards
Work smart not hard
  • #3,493
  • Jul 29, 2009 1:34pm Jul 29, 2009 1:34pm
Quoting strada
Hello Edge, Like most on here I understand your determination to take this through the 'Pip Envy' stage and plan for +5, exit, next trade etc. I'm sure I'm not alone in struggling with trading that plan though. As someone who has it ingrained in the head to cut losses short and let profits run it is really difficult.

It might help if we had some insight as to how the figure of 5 was reached as your optimum profit target. Would you mind giving us some background on that? Hope it's not too much of a trade secret??

rgds.
Nope, not a trade secret at all.

The plan was initially designed to be one that allowed the so called 'average joe' to obtain the necessary tools to allow them to explore a viable alternative income source. Especially in such economically troubling time as we are witnessing today.

The +5 is simply a realistic target based on a high strike rate trading plan. At 0.5 standard lot size, each winning trade equates to $25 net. Trading four (4) pairs that have good correlation at times provided the opportunity to trade all four virtually simultaneously. As such, a couple of winning sets provides a new trader (or old) with $200 net income for the trading efforts that day. Have talked previously on this +2/-4% account balance thing.

Have also talked repeatedly on probability theorem trading. It is a completely different mindset that needs developed in order to scalp. Goes against the old standards at 180 degrees inverted. However, it does indeed work as has been proven time and time again.

I simply feel it is an attractive alternative for those who want reduced market exposure and a relatively satisfying trading sessions. In short, it is simply a numbers game. However, there are tools available to gain a slight edge at times. It simply takes practice and patience.

I too took the long road into this methodology as I also traded trend is your friend, let your profits run methods for years. Just never could tell when my profits were going to 'run' so had a tendency to turn winners into losers. Just wanted an alternative and enjoy this methodology and incorporating the less is more concept. Am particularly fond of the Renko stuff, but that is not relevant at this time.

Is a simple choice really. I promote trading 1 lot for 5 pips in contradiction to trading 1 lot for 30 pips in these initial stages. As the thread progresses, other options will be presented as mentioned in a previous post.

Regards.
  • #3,494
  • Jul 29, 2009 1:35pm Jul 29, 2009 1:35pm
Installing and setting up Renko Charts.... a little different, but hey....

If I can do it, anyone should be able to...

But in previous pages there have been a few explanations on this process.

Wayne


Quoting bigmanin
Indeed thanks
  • #3,495
  • Jul 29, 2009 1:41pm Jul 29, 2009 1:41pm
[quote=sony;2913535]Thanks for your quick answer..

Please tell me for what do you use that LWMA?
Closed candle above LWMA and color change to confirm trend.
What is your TP on 5 min...? 10 pips plus sperad or 10 pips with spread?
10 pips after paying spread.
What is TP for 30 min and 15 TF
25/35/50 TP1 TP2 TP3 BE @ 25 TS 30 on 30M TF
Those are my last questions
When you said that WLMA 12 , 6 , 3

MA Period 12
MA Type 3
MAA aPlaied price 6???

Right.
" Never let the past hold the future to ransom "
  • #3,496
  • Jul 29, 2009 1:42pm Jul 29, 2009 1:42pm
Quoting powercouple
Hey John 2004, could you post an example of how you did this? I am very interested in how you were able to do it.

Thanks!

powercouple,
Not a big deal. Just put this type code into a simple indicator and made it comment the results. changed the index and shift and looked at the results.

Still not sure of the results since I see things on screen that don't agree with the results from iCustom. Guess I better get the source.

Trix_M3_arrowDN = iCustom( Symbol(), 5, "smSuper TRIX_v2",
3,
1,
1,
1,
0, // price
false,
false,
false,
500,
index, shift );
  • #3,497
  • Jul 29, 2009 1:51pm Jul 29, 2009 1:51pm
edgetrader
since you are the master of this thread you should put a new version of c4. there is atleast 15 version here.. ppl started to adding renko stuff.. getting to confusing.. as u said less is better get an a C4 V1 with this idea in mind. less is better.. and since it is an scalping method i don't mind having 5 pips profit here n there.. becus at the end it all adds up... i hope you will come up with V1

thanks
  • #3,498
  • Jul 29, 2009 1:56pm Jul 29, 2009 1:56pm
[quote=Gleneagles;2913582]
Quoting sony
Thanks for your quick answer..

Please tell me for what do you use that LWMA?
Closed candle above LWMA and color change to confirm trend.
What is your TP on 5 min...? 10 pips plus sperad or 10 pips with spread?
10 pips after paying spread.
What is TP for 30 min and 15 TF
25/35/50 TP1 TP2 TP3 BE @ 25 TS 30 on 30M TF
Those are my last questions
When you said that WLMA 12 , 6 , 3

MA Period 12
MA Type 3
MAA aPlaied price 6???

Right.

Thanks a lot...Now i will show you my trades and if ou can confirm it ..that it is right staff

Thanks a lot man..you help me...again a lot!!!!

Entry need to be on the very fist bar or...?

You can see it on my atached chart and if you can tell me what i am doing wrong
Attached Image (click to enlarge)
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Work smart not hard
  • #3,499
  • Jul 29, 2009 2:03pm Jul 29, 2009 2:03pm
Update smRenko Signals_v3 indicator.

- With the new input "Draw_NewBrickLines = true" you can see the next levels where new bricks will arise.
.
Attached Images
Attached File(s)
File Type: ex4 smRenko Signals_v3.ex4   20 KB | 1,393 downloads
  • #3,500
  • Jul 29, 2009 2:05pm Jul 29, 2009 2:05pm
Guys.....

HMA default settings "Channel" - a clearer trend I guess !

Cheers !
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