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C4 Scalping

  • #4,361
  • Aug 1, 2009 11:17am Aug 1, 2009 11:17am
Quoting luckylady
Luckily the trader that introduced me to forex (I knew him well beforehand) didn't have such reservations, so didn't pass them onto me....
There are many traders doing 2% or better on a daily basis using simple breakout, support and resistance trades without ex4 files filling their charts.
  • #4,362
  • Aug 1, 2009 11:18am Aug 1, 2009 11:18am
Quoting gbppip
"SIMPLICITY - The single most difficult trading concept to wrap your mind around !!"

I would expand this to:

"SIMPLICITY - The single most difficult LIFE concept to wrap your mind around !!"

I think Franciscan friar William of Ockham, Henry David Thoreau and Benjamin Franklin would concur.
Excellent!

Regards.
  • #4,363
  • Aug 1, 2009 11:19am Aug 1, 2009 11:19am
Quoting Edgetrader
It is the condescending attitudes of many that self limit their capabilities. Goes over many peoples heads as they continue to seek and do battle with negativity.
That's the rule rather than the exception as ego driven traders are all clamoring "look at me, look at me".
  • #4,364
  • Aug 1, 2009 11:20am Aug 1, 2009 11:20am
Quoting eclayf
YES, you are correct on the SL and TP for this strategy. Originally Edge said 20 SL and 10 TP, but he has evidently edited that on page 1 now to be 5 pips TP. Personally I still use 10, and have even tested 15 and 20.

If one learns to filter their trades and avoid most of the fakeout signals (not that hard to do by the way) using a slightly larger TP shouldn't be much of an issue.

Price Action can help a lot with all this, as Edge said in post 1.

God bless Skyzer,
Clay
Thanks a lot Clay, best regards,
Many pips and God Bless you too..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #4,365
  • Aug 1, 2009 11:20am Aug 1, 2009 11:20am
Quoting Edgetrader
Excellent!

Regards.
Glad to make your acquaintance, Sir.
  • #4,366
  • Aug 1, 2009 11:24am Aug 1, 2009 11:24am
5 TP with 20 SL? 4 wins = 1 loss.

10 TP with 20 SL? 2 wins = 1 loss.

5 TP with 10 SL? 2 wins = 1 loss.

10 TP with 10 SL? 1 win = 1 loss.

5 TP with 5 SL? 1 win = 1 loss.

How many wins per trading session does this method expect to generate?
  • #4,367
  • Aug 1, 2009 11:26am Aug 1, 2009 11:26am
Quoting studbiol
Hi Tw0eleven,

I don´t mind. As I´m a new user I don´t know how to do. Please tell me.

Regards
CG

I'm not sure exactly how to turn on your PM settings. But another option might be for you to Click on my user name and then send me a message first...that way I can reply to you.

Thanks
  • #4,368
  • Aug 1, 2009 11:30am Aug 1, 2009 11:30am
Quote
Note: Trading this methodology is not going to give you a 1:1 R/R. Scalping is built on probability theory as mentioned. Further, PA will tend to repeat small intricate movements repeatedly. This is simply historical fact. As such, a scalping plan is based upon a decent win/loss percentage and very good MM. Just playing the odds and trying to stack them in your favor now and then.

I understand risk/reward and I understand probability. Have you done any rigorous analysis on this method? If yes, can you post it?
  • #4,369
  • Aug 1, 2009 11:34am Aug 1, 2009 11:34am
Mindsphere thanks for posting this. I was having the same problem trying to figure this out. Good luck in your trading.

Quoting Mindsphere
Thanks DX, what worked in the end was this:

iCustom(NULL,0,"smrs",10,20,8,3,6,ARROWBUFFER,TIMEPERIOD)

Where arrowbuffer is 3 or 4 for up or down. Though that actually gives the price value of the arrow. Still, definitely workable
  • #4,370
  • Aug 1, 2009 11:42am Aug 1, 2009 11:42am
Quoting gbppip
I understand risk/reward and I understand probability. Have you done any rigorous analysis on this method? If yes, can you post it?
Personally I'd set SL at 20, but Take profit depends in what kind of
market conditions.. TP 5 I guess it's ok in sideways action,
but when pair Trends like EU and GU at Friday, when dollar was
dropping like a rock, - I don't see any reason to bailout every
5 pips.. I guess the main point comes to identifying the Market
condition: is a Trend or is it sideways (in range) movements..
Then based on that enter desirable TP, but Stop Loss at 20
seems valid option..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #4,371
  • Aug 1, 2009 11:49am Aug 1, 2009 11:49am
I've not optimized...but it seems that C4 can work well also on the TOS platform...

The don't have Renko...what a shame!
Attached Image (click to enlarge)
Click to Enlarge Name: NitroTOS.jpg Size: 90 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #4,372
  • Aug 1, 2009 11:55am Aug 1, 2009 11:55am
Quoting gbppip
I understand risk/reward and I understand probability. Have you done any rigorous analysis on this method? If yes, can you post it?
Far more than almost anyone in the thread would believe.

As for Nitro, I did provide the thread followers a sneak peak a while back. Obviously, as it is Renko chart based, the thread exploded with this and, while it was not my intent at that time for ANYONE to transition into Nitro, many have of their own accord and seem to generally like the method with this particular charting package.

I also did an attachment to the Nitro preview posting that showed results trading one (1) pair on a 24/6 basis and trading exactly at levels I have recommended. I think as you look over my previous postings you will find such. Somewhere around page 155 is where this transition occurred. Further posting will also show testing was completed well in excess of that provided. As such, I was comfortable providing additional info. on the method as I strive to honor the FF mission of providing 'free' information that is qualified to begin with. Naturally, many others have not adhered to this as hundreds of threads have gone the way of the pear, i.e.'pearshaped'.

Since that time, there has been considerable MT4 platform work done which is both an attempt to mimic and an attempt to discover, isolate and utilize various indicators that may benefit those trading the method.

Am a minimalist myself in this regard. However, the thread has some very good members and some who are breaking the backs to get themselves in a better position than that in which they started.

A VERY simplistic approach to and starting point for Forex trading is all this thread is.

Regards.
  • #4,373
  • Aug 1, 2009 11:59am Aug 1, 2009 11:59am
Quoting Tw0eleven
I'm not sure exactly how to turn on your PM settings. But another option might be for you to Click on my user name and then send me a message first...that way I can reply to you.

Thanks
Hi,

just tried it. Hope it works
If there are pips you can collect - just do it!
  • #4,374
  • Aug 1, 2009 11:59am Aug 1, 2009 11:59am
Quoting eclayf
It has already been said, "those who insist something is impossible are always being interrupted by those doing it."
.....
There is NOTHING impossible unless you believe it is impossible,,, for you.

Clay

Agree 1000% !
******************* I'd rather make money than be right.
  • #4,375
  • Aug 1, 2009 12:00pm Aug 1, 2009 12:00pm
Quoting TudorGirl
Hey - if this was easy, everyone would be able to do it!! And we can't have that, can we?!
You are close to a system that could break the bank of many brokers. If word gets out they are likely to deploy detect and exclude strategies, as casinos do with card counters. If you’ve found the pot of gold at the end of the rainbow I suggest, like a pirate, you bury your treasure and disappear:
· Hide in plain sight (confuse the crowd by posting some losing trades)
· Erase the clues on the treasure map (delete critical posts)
· Relocate to a friendly jurisdiction (choose a broker that feeds your trades directly to the market and takes a commission)
· Play hide and seek (rotate brokers, run ea for a while then move to another, and so on in a circle)

But what about the spirit of sharing information with others on this thread? You have given more than enough for those willing to “learn and earn”!

Best wishes - you deserve it!

(P.S. If you are willing to add me to your further development email list, just send a PM)
  • #4,376
  • Aug 1, 2009 12:03pm Aug 1, 2009 12:03pm
Always good to help Skyzer. Just keep on keepin' on you WILL get there buddy.

gbppip, Edge said he did a lot of testing, but that aside, here are a couple of reports in .pdf that will help you understand the probabilities of this.

One is about the times most likely to yield good moves, and Edge's time to trade fits perfectly in one of the highest probability time frames for good trading.

One is about trading based on probabalistic price movements. I.E. if a currency moves "x" pips, how likely is it to move another "x" pips, etc.

Great reads and to be honest, I was headed down Edge's road before I ever found this thread. Edge just made it simpler for me to grasp quickly.

By the way,,,,, did you know that Thursday is most often the day of the best trading? How about the fact that most "trends" are from 6 to 17 bars before a retrace? Read the report "Forex Traders Cheat Sheet."

Did you know that on the Eur/Usd M5 chart if price moves 20 pips, it is 47% likely to keep moving that way for 20 pips? The Usd/Jpy is only 41% likely and the Gbp/Usd is 56% likely?

On D1, if Eur/Usd moves that way, it is 95.6% likely to yield you another 20 pips.

Neat, neat little report, "Predicting Price Movement."

Hope these help everyone to understand Edge's approach better, it's not just simple scalping, but high probability scalping at a predetermined "high yield" time in the market.

Enjoy and God bless,
Clay
Attached File(s)
File Type: pdf Forex Report Predicting Price movement.pdf   642 KB | 976 downloads
File Type: pdf Forex Traders Cheat Sheet.pdf   321 KB | 997 downloads
  • #4,377
  • Aug 1, 2009 12:06pm Aug 1, 2009 12:06pm
Quoting studbiol
Hi,

just tried it. Hope it works
Nope, didn't get it. Not sure what else to try. Thank you for trying though.
  • #4,378
  • Aug 1, 2009 12:08pm Aug 1, 2009 12:08pm
Quoting SkyzerFX
Personally I'd set SL at 20, but Take profit depends in what kind of
market conditions.. TP 5 I guess it's ok in sideways action,
but when pair Trends like EU and GU at Friday, when dollar was
dropping like a rock, - I don't see any reason to bailout every
5 pips.. I guess the main point comes to identifying the Market
condition: is a Trend or is it sideways (in range) movements..
Then based on that enter desirable TP, but Stop Loss at 20
seems valid option..
While swing trading is of course a traders option, this skews and adds far more thought and decision making than is the threads intent.

I believe Indrek already has a thread for those more inclined to trade the method in a manner contrary to its intended purpose. There are many here who still seem to think trading Nitro at +10 is a valid option. Well, it sure is, however, that is not the threads intent and therefore detracts from the focus and perseverance needed to learn to trade it as designed.

As we have seen in numerous postings, a considerable amount of time and effort is concentraded into 'discovery' as opposed to 'trading'. Not much I can do there but let it run its course. Still, this is nothing more than PA crossing MA with some manner of confirmational boost which is basic Trading 101.

Regards.
  • #4,379
  • Aug 1, 2009 12:27pm Aug 1, 2009 12:27pm
Quoting Tw0eleven
Nope, didn't get it. Not sure what else to try. Thank you for trying though.

Please help me!

When I tried to PM you I got this message:

You have turned off private messages. You may not send private messages until you turn them on by editing your options.

Now I don´t know what to do. I´m a little confused. Sorry for cluttering this thread.
If there are pips you can collect - just do it!
  • #4,380
  • Aug 1, 2009 12:34pm Aug 1, 2009 12:34pm
Quoting gbppip
I understand risk/reward and I understand probability. Have you done any rigorous analysis on this method? If yes, can you post it?
In my opinion, most folks reading should understand that this is 'philosophical' as much as it is 'maths'.
With a simple primer, detonator and plunger construct. we as a group are simply qualifying our expectations that price will do as such.
I'm confident and can assure almost everyone that nobody is, nor would try to trade this methodology with a 380.5 standard lot voice-brokered order.

Without being long-winded the 'Edge' here is and always will be a very personal thing.

Great weekend to all
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