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C4 Scalping

  • #3,761
  • Jul 30, 2009 10:29am Jul 30, 2009 10:29am
Quoting ianf0ster
Hi,
Yes Dan I see a losing trade on your chart, with a winning one and a losing one (09:42) before it and another winning one after it.

E/U 10 pip Renko:
I don't know what others have come up with for this over longer term tests - Paradoxical says it has a 99% win rate.
My tests from 00:00 GMT on 1st June up to the present (using a 10pip TP and 20 pip SL) show 108 winning trades and 47 losing trades assuming trading 24hrs per day.
Ok not 99% more like 69%, but still positive pips. But then take the sread into account and it's a losing proposition:
If...
Couple of points to consider Ian which might be of some benefit.

'Nitro' is designed at a TP of +5 as opposed to +10.

SL at -20 is ok and can mangae trades a bit tighter I would think.

Too much faith put into the diamonds as Swingman has mentioed his Renko work is not complete.

EU is not a Nitro pair of choice.

I have watched this pair also and tested it pretty thoroughly. Even at that, the last 24 hours or so show it at around 11-1 at designed levels on even the MT4 (ref: chart).

Regards.
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  • #3,762
  • Jul 30, 2009 10:31am Jul 30, 2009 10:31am
the below contents r a post by gleneagles on pg 236. i replicate it here 4 any1 who may have missed it. like me, 2 have a laugh


I live in Dark Africa. Every time I want to post a reply I must:

1) Climb up the tree
2) Attach the satelite dish to the special internet branch
3) Signal to the electricity assistant to start the generator
4) Lower the rope to hoist up the laptop
5) Try to establish an internet connection
6) Look around to see if I am not sharing the tree with a leopard
7) Try to type a response
8) If I share the tree with a leopard, I normally don`t type a response
9) Reverse the process when I have typed a response

Now when I have finished and want to log in again, I sometimes have to find a new tree because my favourite Internet tree has been used for firewood.
  • #3,763
  • Jul 30, 2009 10:32am Jul 30, 2009 10:32am
Hi all I know I am new but have spent time following and reading this thread. I purchased the renko charts so I can come on board but since I have done so it has jammed my charts on Mt4 across the board. Rebooting, relogging in and restarted isnt doing anything I have also reloaded the software today because the renko bars were not giving any history and even thats not working great but will worry about the later.

Any help would be so greatly appreciated

thanks

Scott
  • #3,764
  • Jul 30, 2009 10:33am Jul 30, 2009 10:33am
If you posted this before, please accept my apologies. I read the thread regularly, but may have missed it. Can you post the indicators you use on the bottom of your chart? The ones that show red/blue dots and the red/blue line? thanks.
Quoting Gleneagles
GBPUSD +20

LWMA Trix MTF (testing)

There is still hope for C4 fossils

Yesterday +200
Today +140

OK no more charts, it is clogging up the thread.
  • #3,765
  • Jul 30, 2009 10:35am Jul 30, 2009 10:35am
Quoting TudorGirl
All,

The system is still holding up. Just going for +10's as per the Boss's orders.

Account up just over 20% in the last 18 hours.

Anne
Hi Anne

Really good results, well done! - I'm impressed. I see from the trades times that they are virtually 24/7 so I'm assuming that you have the EA working on these and aren't taking them all manually. How is development coming along? I know you said before that you didn't think an EA would work on this system as there was a bit of discretionary input into the trades. I take it these are just worked on the renko bars and your TG-SSC indicator. I have crossing lines for this set at +0.0 and -0.075, are these the settings you're using as well?

Also that you are only working on 1 pair - eur/usd - any reason for this?

Keep up the good work and I'm glad to see that you haven't risen to any of the 'comments' that have been made by a certain person. There's no need for people to take that attitude, we're all here with a common goal and trying to help each other.
  • #3,766
  • Jul 30, 2009 10:35am Jul 30, 2009 10:35am
Quoting 4xStar
I don't get what she is saying to do. Chart looks very 'busy'. What am I missing?
Use the Renko script and apply it to your C4 template. Then, make the candles HA. Then, compare it to your Nitro chart.

I am also suggesting taking the wicks away from the HA candles. and you have a very close match. It is a possible way to incorporate properties of both plans on the MT4 and that would allow the best of both world with that platform.

Am working on it myself this fine day.

Regards.
  • #3,767
  • Jul 30, 2009 10:38am Jul 30, 2009 10:38am
Quoting paradoxical
If you posted this before, please accept my apologies. I read the thread regularly, but may have missed it. Can you post the indicators you use on the bottom of your chart? The ones that show red/blue dots and the red/blue line? thanks.
He is still testing his MTF indi.. Will advise us when he completes such.

Regards.
  • #3,768
  • Jul 30, 2009 10:43am Jul 30, 2009 10:43am
Trading over 2 days 05H30GMT-16H00GMT

GBPUSD 13 trades 130 pips (TP10)
EURJPY 12 trades 85 pips (TP10 and TP5)
EURUSD 13 trades 95 pips (TP10 and TP5)
GBPJPY 13 trades 110 pips (TP10) one loss -20
Total 51 trades 420 pips

LWMA 12 6 3
Trix 3 1 1 1 (Day one) 15M TF trend filter

Trix variable settings based on ATR for Day 2

The objective is to see whether there is any benefit in using a slower/faster Trix in different market conditions. Even saving 2-3 pips with optimum entries make a big difference with small TP targets.
" Never let the past hold the future to ransom "
  • #3,769
  • Jul 30, 2009 10:46am Jul 30, 2009 10:46am
Quoting Tw0eleven
Just curious, how many out there are scalping pairs with 4-5pips spreads??? If you are, are you still going for 10pips or 5pips net profit? Second question, how man people feel you can't scalp with that high of a spread but need something smaller like 2-3pip spreads? Or does it even matter with C4 and Nitro?

hi Tw0eleven,

answering from 2nd question. from a pure scalping perspective, the lower the spread the better. because scalping only goes 4 low profits. so, if we have a low spread, then it will not eat into our profits 2 much.
  • #3,770
  • Jul 30, 2009 10:46am Jul 30, 2009 10:46am
Quoting Edgetrader
He is still testing his MTF indi.. Will advise us when he completes such.

Regards.
It is still a bit flaky but making progress, looking at 1M TF 5-25 Trix settings based on ATR 5M. Not sure whether it is a wild goose chase but will give it a go.
" Never let the past hold the future to ransom "
  • #3,771
  • Jul 30, 2009 10:47am Jul 30, 2009 10:47am
Quoting Edgetrader
Couple of points to consider Ian which might be of some benefit.

'Nitro' is designed at a TP of +5 as opposed to +10.

SL at -20 is ok and can mangae trades a bit tighter I would think.

Too much faith put into the diamonds as Swingman has mentioed his Renko work is not complete.

EU is not a Nitro pair of choice.

I have watched this pair also and tested it pretty thoroughly. Even at that, the last 24 hours or so show it at around 11-1 at designed levels on even the MT4 (ref: chart).

Regards.

Edge,

A stop loss of -ve 20 and a win of +ve 5,....mmmm!!! Is that a good win/Loss ratio ?? Meaning if you loss 20 then you have to win four times to equalize or to be even. It appears very very risky to me !!!

Anyway, I am working on something that looks promising for this system. I am working on a hard (10 pips + spead) stop loss and a win of ten pips or more. I tried it this morning and it is looking very promising.

More later.
  • #3,772
  • Jul 30, 2009 10:51am Jul 30, 2009 10:51am
Quoting JillyB
Hi Anne

Really good results, well done! - I'm impressed. I see from the trades times that they are virtually 24/7 so I'm assuming that you have the EA working on these and aren't taking them all manually. How is development coming along? I know you said before that you didn't think an EA would work on this system as there was a bit of discretionary input into the trades. I take it these are just worked on the renko bars and your TG-SSC indicator. I have crossing lines for this set at +0.0 and -0.075, are these the settings you're using as well?...



I concur with that. Here results do the talking instead of responding to all those Rants of Envy.

You Go Anne !!
  • #3,773
  • Edited 10:53am Jul 30, 2009 10:53am | Edited 10:53am
Quoting DanFX
Now I´m a bit confused... I know we should wait for triangle after 2 consecutive trix bars. BUT doesn´t it matter on which side of the zero line ?
Would it be okay to have light green, deep red, triangle => shoot ??

I thought it should be both dropping bars below 0 so deep red, deep red, triangle => shoot !!
DanFx,
No Swingman said they could be any colour - it is only the slope of the Trix histogram that matters.
However everyone's Renko chart will be different, depending upon at which bar it was initialised.
When comparing his chart of July 22 - 27 to my chart, his 10pip bricks start on about an 04, so 04,14,24,34 etc whereas mine start on 04.9 (5 digit broker). He has 16 trades - all wins, I have 22 trades - 18wins.
The period that Swingman (perhaps by accident) chose is the best that I have seen in my testing.


Take care,
Ian
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  • #3,774
  • Jul 30, 2009 10:59am Jul 30, 2009 10:59am
Quoting Edgetrader
Couple of points to consider Ian which might be of some benefit.

'Nitro' is designed at a TP of +5 as opposed to +10.

SL at -20 is ok and can mangae trades a bit tighter I would think.

Too much faith put into the diamonds as Swingman has mentioed his Renko work is not complete.

EU is not a Nitro pair of choice.

I have watched this pair also and tested it pretty thoroughly. Even at that, the last 24 hours or so show it at around 11-1 at designed levels on even the MT4 (ref: chart).

Regards.
Hi Edge,
I am aware of those points. Also for a quick eyeball backtest, you have to assume a SL of at least 2X your Renko Brick size.

Ian
  • #3,775
  • Jul 30, 2009 11:01am Jul 30, 2009 11:01am
Quoting maxwell-eqtn
I concur with that. Here results do the talking instead of responding to all those Rants of Envy.

You Go Anne !!

happens on almost every thread. just ignore it till u can't stand it.
  • #3,776
  • Jul 30, 2009 11:03am Jul 30, 2009 11:03am
Quoting maxwell-eqtn
Edge,

A stop loss of -ve 20 and a win of +ve 5,....mmmm!!! Is that a good win/Loss ratio ?? Meaning if you loss 20 then you have to win four times to equalize or to be even. It appears very very risky to me !!!

Anyway, I am working on something that looks promising for this system. I am working on a hard (10 pips + spead) stop loss and a win of ten pips or more. I tried it this morning and it is looking very promising.

More later.

from the perspective of r/r, it's not good. but if u win more than u lose. then it may not really matter, doesn't it?? thanks
  • #3,777
  • Jul 30, 2009 11:04am Jul 30, 2009 11:04am
Quoting 4xStar
I don't get what she is saying to do. Chart looks very 'busy'. What am I missing?
Syahmi lost me on that one too, especially since I haven't used Renko script yet. But since she seems pretty good at finding good settings for HMA etc thought she might want to take a look at this indi and post what she thinks are it's best settings for 5 min C4, if she wants to.

Don't remember where I found it, maybe already posted on this thread.
Attached File(s)
File Type: mq4 Heiken_Ashi_Ma.mq4   3 KB | 470 downloads
  • #3,778
  • Jul 30, 2009 11:05am Jul 30, 2009 11:05am
Quoting ianf0ster
Hi Edge,
I am aware of those points. Also for a quick eyeball backtest, you have to assume a SL of at least 2X your Renko Brick size.

Ian
OK. Thx.
  • #3,779
  • Jul 30, 2009 11:06am Jul 30, 2009 11:06am
Ouch. Missed such a perfect setup. Going to go sit on my hands now.
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  • #3,780
  • Jul 30, 2009 11:10am Jul 30, 2009 11:10am
Before I post my charts a few things I need to address. For those who dislike FXCM, that’s ok, I have had problems with every retail brokers I have tried, and I have tried several. I use the FXCM Micro platform, so I cannot comment on their MT4 or any account beyond micro. But I can attest that I have made money steadily with them, I have seen little to no slippage and they have never missed a TP or gone stop hunting as their prices and candle spikes have always matched up with several other brokers MT4 platforms which I use for charting, and their spreads on the majors are always below 2 pips during high volume hours and I have never seen more than a spike of 3.5 during news or lower volume sessions, and non majors are around 4-5 which is on par with allot of brokers during high volume sessions. I say if you can afford it go with a no retail broker with low leverage and fixed commissions, you will be better off than with any retail broker, but if you feel comfortable where you are then you have no reason to leave, just enjoy making money.

Now onto my charts, I am trading 4 pairs, 2 using Nitro and 2 using the C4 method with a tweak or two. For each method I use two pairs I feel comfortable with that pertain to that method, Nitro: E/J (1.5 spread) & G/J (4 spread) C4: G/U (1.5 spread) & E/U (1 - 1.5 spread). I stay out of the news and don't trade 30min before or 15min after, and I do occasionally trade some of London and some of Asian, but mostly around the London/US overlap. Here are the charts, both +5 and I missed a few Nitro trades, but that’s what happens when there are kids that need to be entertained and fed:
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