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C4 Scalping

  • #3,641
  • Jul 30, 2009 1:59am Jul 30, 2009 1:59am
Hello all,

Just playing around a little with Tudorgirl's new indicator. From what I can see so far, it is similar to Trix set at 2,1,1,1 but without as many false signals. I played with some of the settings and setting k to 2.5 (as on the chart) seems a tad more accurate at least on the GU for the time period I was looking at. I will need more time to play with it on other pairs to see.
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  • #3,642
  • Jul 30, 2009 2:00am Jul 30, 2009 2:00am
first 10 pips (and 1%) of the day with c4, entered at 1.4071 (nice re-entry trade)

(I love Oanda for this btw, really fast 1 click execution and 0.9 spread on euro and yen, never get the requote msg as I don't trade during the news)

I checked the correlation before starting and aus was at 94, notice how it had already started to move before I got in on the euro.

I added a few more people to the ignore list, it's hard to believe how ridiculous it is, that's why I have been lurking on this forum for most of the time since I started. Edge, if (& when) you get tired of the bs, maybe we could have some type of invitation-only private place to share with traders helping each other. Or is it possible to "vote people off the island" here?
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  • #3,643
  • Jul 30, 2009 2:09am Jul 30, 2009 2:09am
Quoting Dewey McG
Hello all,

Just playing around a little with Tudorgirl's new indicator. From what I can see so far, it is similar to Trix set at 2,1,1,1 but without as many false signals. I played with some of the settings and setting k to 2.5 (as on the chart) seems a tad more accurate at least on the GU for the time period I was looking at. I will need more time to play with it on other pairs to see.
Great observations MC Dewey! Thanks!
The Only Constant Is Change!
  • #3,644
  • Jul 30, 2009 2:15am Jul 30, 2009 2:15am
Quoting DocPMD
I agree somewhat. There has been a lot of discussion, but I'm not sure there has been a definitive answer.

For those who have been successful trading this so far, care to elaborate on how the stops are managed? I have looked over a lot of charts in an attempt to back test this, but it's not as straight forward as I thought it might be. Had to make some assumptions, but it looks like the win percentage using Renko bars and Trix is closer to 75%, not the 95%+ that is reported.

I admit that my assumptions may be wrong, which is why I am forward...
My stop loss is always 20pip once entering the trade, however I never let it get that far. I'll typically close it out at around -10-14pips on eurjpy that i've been trading on nitro. eurjpy winners can be extremely consistent 7pips once entries are dialed in. pairs like UJ, no need for 20pip stop loss, if it has traveled over 10pips opposite, close it. most importantly, one must understand what price action is and really be familiar with it with the pair they are trading. you really have to get to know the pair and know how it moves. as edge said, this type of trading is just 25% mechanical, rest is up to the trader.
  • #3,645
  • Jul 30, 2009 2:19am Jul 30, 2009 2:19am
The PDF files are now getting too big to upload so I have now split them into part 1 (up to page 167) and part 2 (from page 167 onwards).

Happy trading.

Nick
Attached File(s)
File Type: pdf C4 Nitro Scalping Part 1.pdf   1.5 MB | 2,556 downloads
  • #3,646
  • Jul 30, 2009 2:19am Jul 30, 2009 2:19am
Quoting DocPMD
I agree somewhat....
This discussion will lead to nothing as it really depends on each and everyone of us.
I'm trading Forex since around 10 years and mostly only use either no SL or a huge one. And I'm pretty successful in what I'm doing.
The R:R discussion will come up in nearly every thread since the beginning of time and there will be never a "truth".
I heard so many times that trading for +5 with a 40 pip SL is suicide. Well, I'm still alive and maybe more then guys with 10 pip SL.
Trades need room to breath and if I decide to take a trade - buy i.E. then I should have thought about the reasons before doing so. That means that I have my reasons to go long. So if PA decides to make me nervous... so be it and I will exit manually as soon as I think that my entry was wrong. Otherwise I let PA get to where I want it to... +5
There was a thread here on FF in summer 2007 from Iandekocker who traded an ADX system with +5 -20 entries. And he made heaps of money with big lot sizes. I'm still trading this system from time to time.
I'm sure the hunt for huge movements with hundreds of pips is a lost battle.
Just read the threads here or on TSD to understand what I mean.
Sure it's fun to enter a trade and see it moving up and up and up to exit with 274 pip at the end. But how often that will happen?
Trade from the daily chart and you can have that. But then you will have losers of 100-200 pips as well. Not my business.

I posted some of my trades here the last weeks and as you can see... a SL of 30 is fine.

But Edge said all that already... nothing new, just reminding.

That's not an absolute truth... just my way of trading.
You choose your way...
"The only successful substitute for brains is silence."
  • #3,647
  • Jul 30, 2009 2:20am Jul 30, 2009 2:20am
Quoting Max Thrax
Looks like the kind of system that gets killed in ranging/consolidating markets. ALso, taking 5 or 10 pips is great as long as you aren't using a 30 pip stop loss, but I haven't read any discussion of stop loss vs profit target.
'You learn and you earn !!!'.

consequently,

'You learn or you burn !!!!'.
The Only Constant Is Change!
  • #3,648
  • Jul 30, 2009 2:20am Jul 30, 2009 2:20am
...and part 2.
Attached File(s)
File Type: pdf C4 Nitro Scalping Part 2.pdf   580 KB | 1,906 downloads
  • #3,649
  • Jul 30, 2009 2:31am Jul 30, 2009 2:31am
Here the best example that a trade need room to breath!
UJ went nearly 17 pips against me (20 including spread) before finishing with +5.
See what I mean?
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"The only successful substitute for brains is silence."
  • #3,650
  • Jul 30, 2009 2:31am Jul 30, 2009 2:31am
Starting to have fun with this!
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  • #3,651
  • Jul 30, 2009 2:35am Jul 30, 2009 2:35am
first nitro trade of the day, +5

Thanks Tudor Girl for the SSC!
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  • #3,652
  • Jul 30, 2009 2:39am Jul 30, 2009 2:39am
Morning DX, notice you have replaced the HMA with TG's spectrum, what are your impressions so far?


Quoting DXTrade
Here the best example that a trade need room to breath!
UJ went nearly 17 pips against me (20 including spread) before finishing with +5.
See what I mean?
  • #3,653
  • Jul 30, 2009 2:43am Jul 30, 2009 2:43am
GBPUSD +30

LWMA and Trix MTF (testing)
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" Never let the past hold the future to ransom "
  • #3,654
  • Jul 30, 2009 2:43am Jul 30, 2009 2:43am
Quoting strada
Morning DX, notice you have replaced the HMA with TG's spectrum, what are your impressions so far?
Yes, as the HMA is included in my arrows already.
Checking it out now... looks good but a bit redundant to my arrows.
Maybe a good confirmation though.
"The only successful substitute for brains is silence."
  • #3,655
  • Jul 30, 2009 2:47am Jul 30, 2009 2:47am
Quoting DXTrade

. . . I posted some of my trades here the last weeks and as you can see... a SL of 30 is fine.

But Edge said all that already... nothing new, just reminding.

That's not an absolute truth... just my way of trading.
You choose your way...
Thanks for the answer. And just to be clear, I wasn't trying to start a debate, or a useless discussion, just wanted to understand how folks were trading this successfully.

In my brief experience with Forex (4 yr overall, 6 mo very dedicated), one thing has become very clear to me - profitability has very little to do with proper entries, and more to do with proper exits.

With this system the entries are very well defined. But the exits are only strictly defined half way. The profit target is defined, but the stop was not. And since my opinion is that the exits (for both profit and loss) are more important than the entries, I just wanted clarification.

So to say that a discussion of the stops (exits) would lead nowhere is a bit troublesome to me.

In any case, at least you had the courtesy to answer. And your answer makes sense. But I think most who read through this thread have the impression that the system is 100% mechanical. The way you trade it is not. No big deal, just a little misleading.

And as far as Edge's "25% mechanical, 75% mental" statements, I thought that meant that people have difficulty handling the mental aspects of trading a mechanical system. Not that there are discretionary aspects of this system.

Thanks again for the answer.
  • #3,656
  • Jul 30, 2009 2:53am Jul 30, 2009 2:53am
HMA Channel performs well with the confirmation from 5min smTrix and 15min smTrix.

Cheers !
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  • #3,657
  • Jul 30, 2009 2:55am Jul 30, 2009 2:55am
Quoting Gleneagles
GBPUSD +30

LWMA and Trix MTF (testing)
If you wouldn't mind answering, what settings are making the arrows. I have the first arrow on my chart and the last one but not the middle.
  • #3,658
  • Edited 2:58am Jul 30, 2009 2:56am | Edited 2:58am
for anyone reading before about how I use correlation for extra confirmation, just because the mataf.net shows a high correlation on the hourly you have to use your visuals to interpret as they may not be correlating on the 5 minute. In this example on mataf it is still shows 94 but they obviously have lost correlation as aus is staying strong while euro is weak.

I also use the usd/chf for confirmation when trading euro as it is usually the opposite of euro.. , I watch these 3 pairs together.

(woops, didn't need the second picture)
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  • #3,659
  • Jul 30, 2009 2:57am Jul 30, 2009 2:57am
Quoting DocPMD

And as far as Edge's "25% mechanical, 75% mental" statements, I thought that meant that people have difficulty handling the mental aspects of trading a mechanical system. Not that there are discretionary aspects of this system.

Thanks again for the answer.
Exactly.
I would even go as far as pretending that you can enter whenever and wherever you want, by chance or let's say if the minute of the hour is an odd number go short, or whatever you want. Important is the exit!!!
So if I have a nice mechanical way to enter for a "small" +5 then I can not chicken out with -10 or -12 to see the trade go to my +5 twenty seconds later.
You can... but will need a lot of winners to recover each time.
So yes... 75% is the trader, willing to close at +2 if he sees its not working out and being happy with it and not to freak out at -13 floating.

I once had a floating loss of 210 pips with a TP of 30 which I reached eventually 3 days later. Crazy? Maybe!
75% is the trader making the difference.
"The only successful substitute for brains is silence."
  • #3,660
  • Jul 30, 2009 3:02am Jul 30, 2009 3:02am
Quoting Max Thrax
Ditto me. The author of this system seemed like he was more interested in writing the Great American novel in his post than concisely explaining what the setup is....so damn irritating. Every creative writing workshop in the country should be shut down.

Do you just enter when the bar's color changes? Seriously, 250 pages of arguing about what constitutes 'scalping' and what doesn't, interspersed w/ conversations about how much you should have in your account, and not a single actual explanation of the system. Gee, thanks guys.
I think you need to find anothe thread . one where the trading plan is spelled out in as few words as possible.

We're all lovers of literature in here.
Oh .. and pips.
******************* I'd rather make money than be right.
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