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C4 Scalping

  • #3,961
  • Edited 1:49am Jul 31, 2009 12:16am | Edited 1:49am
Quoting 4xtrader2
Open Question for C4 Strategy:
In trying to determine stop losses instead of using the suggested 20 pips for 10 pip TP or roughly half that for a +5 pip TP, is there any advantage to using ATR to calculate the SL and TP when entering a trade?

My suggestion is use ATR(6) for SL and 1/2 of ATR(6) for TP.

Example:
EURJPY - Short at 2009.07.30 20:55 GMT
Price = 134.30
ATR(6) = 11
Spread = 3 pips
SL = ATR + Spread + Price = 11+ 3 + 134.30 = 134.44
TP = Price - (ATR * .5) = 134.30 - 6 = 134.24

If volatility is higher then the ATR changes as well.
Thoughts?...

In my opinion... ATR is a better TP and SL indicator to use as it is dynamic with Price and not fixed . Used by advanced traders all the time.

We all know each pair has its own individual volatility and each trade also individual in nature.

Finding the correct settings for each pair is the work/effort involved. Some use fibonacci number as settings and are happy with it.

I cannot remember if I was on your ignore list....Forgive my input if I was.

Envy and spite is not in my nature as mentioned and interpreted by some.

TRUTH and ONLY TRUTH is my nature by those who know and read me correctly....

BE honest with yourself 100% of the time..... will prevail and come through in the long term.

Sorry for this extra ranting....

P.S. Forgot to add the ATR stop indicator for MT4... The version for TS is not free.
Attached File(s)
File Type: ex4 ATRStops_v1.1.ex4   4 KB | 707 downloads
  • #3,962
  • Jul 31, 2009 12:31am Jul 31, 2009 12:31am
Quoting TudorGirl
Hi Everyone,

Just a general broadcast -- I opened PM just 24 hours ago because Tex wanted to PM me and now I have over 100 PMs in the box!! I promise I will try and get back to you all but it might not be in the next few hours!!

Thanks for all the kind words.

Anne
Seems you have a divided forex community.I am sure you have read the copy /paste of an email "not for your eyes" by now....

I should close my PM now... getting too full with similar emails...
  • #3,963
  • Jul 31, 2009 12:35am Jul 31, 2009 12:35am
maxximus (http://www.forexfactory.com/member.php?u=105880)

I need a template of the chart you post on post #3333
  • #3,964
  • Jul 31, 2009 12:35am Jul 31, 2009 12:35am
Quantum4x,

Press Control + O
Click on Charts tab
Change Max bars in history to 250000
Change Max bars in chart to 250000
Click ok
Open 1 Min chart
Click, click, click, click on Zoom out
Now click on page up many times until you can't go back further.
Place s-Renko bars on chart
Set 10,7, 250000, false
open offline chart 7 minute chart for pair you did the above to.

See if that helps some.

Bruce


Quoting Quantum4x
Once I drop the script "s-Renko bars" to the 1m chart, and then open the 2m chart, the number of bars is different every time, even if I change the Maxbars number from 1000 to 50000.

Does anyone know how to get a larger number of bars in the final 2m chart for back testing?

Thanks.
  • #3,965
  • Jul 31, 2009 12:52am Jul 31, 2009 12:52am
Quoting DXTrade
And hop... here a trade I just took with exactly this case. I made +5 although the brick closed on the other side.
How do you want to backtest this?????

Hi DxTrade,

Really appreciate your contribution to this amazing Thread!

Do you manually take TP of +5 when PA is reached ? This is because I demo with Alpari (US) and they won't let me set the TP less than 8-10 pips.http://www.forexfactory.com/images/icons/icon9.gif

Thanks in advance.

dngfx
  • #3,966
  • Jul 31, 2009 1:02am Jul 31, 2009 1:02am
Quoting pilotui
THats the longest list of ignored posts I've ever seen...too bad I didn't see them
Until now, I have NEVER had to put anyone on ignore. I guess there's a first time for everything.

By the way, my last 4 trades,,, 16% earned in a day and a half. Even better, I didn't hang on to the trades properly and exited early on some,,, late on others, but the strat "pure" would have done much better. Still learning this.

Not bad. And yes, I am testing with a $100.00 demo account, and a "tweak" on the basic system with ONLY the indicators in the base system on M5 with the 4 currencies in listed in page 1.

At +2 to +8 or -4% perday, it won't be a small account long. I am also using a script to execute orders that accomplishes "instant compounding" on every trade.

Attached are the scripts I use also. They are scripts I modified and the copyrights are untouched inside and yes they are free. MM_B1 opens the longs and MM_S1 opens the shorts. Just drag them to the chart you want and drop them. Preset to SL 20 and TP 10 on each and 2% risk so it sets the lot sizes such that at SL you have only risked 2% of the account on each trade/ position taken.

The script "AClose All 1 Chart" closes ALL open positions on the chart you drop it on.

It was a script I found on FF that the creator made with an error in it. It was intended to close all open positions on all charts, but the error makes it close only on the chart you drop it on. Then it throws an error you never see, that affects nothing and stops the script. Neat little tool if you ask me.

Using these scripts, each trade will be slightly larger on successes and slightly smaller on losses each trade. Just be careful,,, Instant compounding works in revese as well if you have lots of losses, but is awesome if you have more profits than losses.

Clay
Attached Image (click to enlarge)
Click to Enlarge Name: 4trades.jpg Size: 199 KB
Attached File(s)
File Type: mq4 MM_B1.mq4   2 KB | 530 downloads
File Type: mq4 MM_S1.mq4   2 KB | 490 downloads
File Type: mq4 AClose All 1 Chart.mq4   1 KB | 568 downloads
  • #3,967
  • Edited 1:29am Jul 31, 2009 1:15am | Edited 1:29am
Hi All

For those who wanted to see my setup....

And I am using "flatlining" to try to capture portions of runs as well....

Account up 47% in 36 hours. 34/36 winners ~95% accuracy.

Anne
Attached Image(s) (click to enlarge)
Click to Enlarge Name: setup.jpg Size: 134 KB
Click to Enlarge Name: 20pipNitro6.GIF Size: 108 KB
  • #3,968
  • Jul 31, 2009 1:17am Jul 31, 2009 1:17am
Perfect...just what I was thinking would be great to have... checking them out now. Thank you!

Brian

Quoting eclayf
Until now, I have NEVER had to put anyone on ignore. I guess there's a first time for everything.

By the way, my last 4 trades,,, 16% earned in a day and a half. Even better, I didn't hang on to the trades properly and exited early on some,,, late on others, but the strat "pure" would have done much better. Still learning this.

Not bad. And yes, I am testing with a $100.00 demo account, and a "tweak" on the basic system with ONLY the indicators in the base system on M5 with the 4 currencies in listed in page 1.

At...
  • #3,969
  • Jul 31, 2009 1:17am Jul 31, 2009 1:17am
Hi Eclayf,

Thanks very much for those order scripts.http://www.forexfactory.com/images/icons/icon14.gif

Will certainly give it a try..
  • #3,970
  • Jul 31, 2009 1:19am Jul 31, 2009 1:19am
Thanks Edge!

Your C4 system works perfectly!

100.00 on 4.8 pips...my goal is to grab 50, $50.00 pips per day!
Attached Image (click to enlarge)
Click to Enlarge Name: 1st real trade THANKS Edge.jpg Size: 151 KB
  • #3,971
  • Jul 31, 2009 1:30am Jul 31, 2009 1:30am
Quoting pilotui
Thanks Edge!

Your C4 system works perfectly!

100.00 on 4.8 pips...my goal is to grab 50, $50.00 pips per day!
I think you got a little lucky on that one since its sitting right on major support line, it bounced off of it earlier and this could have been simply a nice retracement for next rally up. I avoided this trade opportunity. Plenty others to come.
  • #3,972
  • Jul 31, 2009 1:37am Jul 31, 2009 1:37am
Quoting eclayf
Attached are the scripts I use also. They are scripts I modified and the copyrights are untouched inside and yes they are free. MM_B1 opens the longs and MM_S1 opens the shorts. Just drag them to the chart you want and drop them. Preset to SL 20 and TP 10 on each and 2% risk so it sets the lot sizes such that at SL you have only risked 2% of the account on each trade/ position taken.
I installed the scripts in the scripts folder. However, I couldn't drag them to the chart. Please check the codes if you could!
  • #3,973
  • Jul 31, 2009 1:41am Jul 31, 2009 1:41am
Quoting michaelhryu
I installed the scripts in the scripts folder. However, I couldn't drag them to the chart. Please check the codes if you could!
Hi Michaelhryu,

They should go into your expert files and drag them into your charts.http://www.forexfactory.com/images/icons/icon7.gif

Regards.
  • #3,974
  • Jul 31, 2009 1:47am Jul 31, 2009 1:47am
Close down your platform and open it again.
More than likely they are not compiled yet.

Bruce

Quoting michaelhryu
I installed the scripts in the scripts folder. However, I couldn't drag them to the chart. Please check the codes if you could!
  • #3,975
  • Edited 1:51am Jul 31, 2009 1:49am | Edited 1:51am
Quoting michaelhryu
I couldn't drag them to the chart.
Hi michaelhryu, I'm not much of a coder, just enough to tweak them. They work perfectly on my platform from IBFX and also on an Alpari demo I was testing, so they should work fine on yours. Perhaps they should be re-compiled. Not sure

Here they are taken directly from the working platform. Both .mq4 and .ex4. For good measure, I have included also a Break Even Script which will move your SL to BE.

Clay

P.S. dngfx,, these are scripts not EA's and go in the scripts folder.
Attached File(s)
File Type: ex4 AClose All 1 Chart.ex4   2 KB | 433 downloads
File Type: mq4 AClose All 1 Chart.mq4   1 KB | 503 downloads
File Type: ex4 MM_B1.ex4   2 KB | 458 downloads
File Type: mq4 MM_B1.mq4   2 KB | 476 downloads
File Type: ex4 MM_S1.ex4   2 KB | 404 downloads
File Type: mq4 MM_S1.mq4   2 KB | 469 downloads
File Type: mq4 Break Even SL.mq4   2 KB | 614 downloads
  • #3,976
  • Jul 31, 2009 1:52am Jul 31, 2009 1:52am
Open it in the Metatrader Editor
See this line
//#property show_inputs

change to

#property show_inputs

and now it works..

Bruce


Quoting brucech
Close down your platform and open it again.
More than likely they are not compiled yet.

Bruce
  • #3,977
  • Jul 31, 2009 2:00am Jul 31, 2009 2:00am
Quoting Gleneagles
Trading over 2 days 05H30GMT-16H00GMT

GBPUSD...
Absolutely brilliant result Gleneagles thanks for taking the time to post the results
  • #3,978
  • Jul 31, 2009 2:03am Jul 31, 2009 2:03am
Quoting eclayf
Here they are taken directly from the working platform. Both .mq4 and .ex4. For good measure, I have included also a Break Even Script which will move your SL to BE.

Clay

P.S. dngfx,, these are scripts not EA's and go in the scripts folder.
Thank you so much for your prompt replies! Much appreciated.

Still the same. They don't want to be moved around. My MT4 terminal is Build 224. I had no time to update to Build 225. Could that be the reason why, perhaps?
  • #3,979
  • Jul 31, 2009 2:10am Jul 31, 2009 2:10am
Just a reminder to everyone, that we can expect today to be pretty choppy. Its Friday which can be a weird day normally, but its also month end making it worse, so trade carefully today, don't give this weeks profits back in one day, expect the unexpected!
  • #3,980
  • Jul 31, 2009 2:12am Jul 31, 2009 2:12am
Quoting luckylady
Just a reminder to everyone, that we can expect today to be pretty choppy. Its Friday which can be a weird day normally, but its also month end making it worse, so trade carefully today, don't give this weeks profits back in one day, expect the unexpected!
You are absolutely right on that, i typically dont trade on these type of days period.
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