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C4 Scalping

  • #5,041
  • Aug 4, 2009 9:54am Aug 4, 2009 9:54am
Quoting Gleneagles
GBPUSD +10

EA (LSD)

OK no more charts, you see exactly what I see.

So far plenty trading opportunities and "scalping friendly" PA.


Good luck with the trading.
hi Gleneagles

how many pips are you make ???? use your ea !!
  • #5,042
  • Aug 4, 2009 9:54am Aug 4, 2009 9:54am
Guys is there indicator to draw lines "Day High/Day Low"?
Could be good for range market..
Thanks
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  • #5,043
  • Aug 4, 2009 9:54am Aug 4, 2009 9:54am
Makes it easier to lurk...
Quoting Edgetrader
I fully realize that I am being relatively adamant on having a trader learn to do the work....

... Those who have followed closely have heard repeatedly the old mantra of:

'You learn and you earn',
consequently,
'You learn or you burn'.

That has not changed after a mere three weeks.

Patience is a key ingredient in trading... However I do admire...

Regards.
What a freakin great Post!!

That "mantra" ((the first time I've ever heard it actually)) just went into my collection of Great FF Trading Quotes. Makes me wonder what other ones I've missed a'rd here...

Sorry, just had to butt in here with a sincere
FUBAR...
  • #5,044
  • Aug 4, 2009 9:58am Aug 4, 2009 9:58am
Quoting SkyzerFX
Guys is there indicator to draw lines "Day High/Day Low"?
Could be good for range market..
Thanks
Why don't you just draw lines to your chart manually without any indicators???
I would like to have an indicator that would switch on my PC in the morning
  • #5,045
  • Aug 4, 2009 10:01am Aug 4, 2009 10:01am
Quoting Indrek
My friend, you seem to be always dissatisfied In trending markets, and in ranging markets too
I'm sorry I just trying to follow the system, that's all. Maybe I'm that
unlucky, but that's why I'm using it, to rely not on luck, but on the
system and so far cannot win.. I'm not saying it's bad, I just cannot
make it work. But hey, maybe
I'll apply something else to make it work..? Will try it on higher TF maybe
15M? to reduce noise? Still trying..

Indrek did that already (draw lines ) thanks!!!
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  • #5,046
  • Aug 4, 2009 10:04am Aug 4, 2009 10:04am
Quoting SkyzerFX
I'm sorry I just trying to follow the system, that's all. Maybe I'm that
unlucky, but that's why I'm using it, to rely not on luck, but on the
system and so far cannot win.. I'm not saying it's bad, I just cannot
make it work. But hey, maybe
I'll apply something else to make it work..? Will try it on higher TF maybe
15M? to reduce noise? Still trying..
That is why we are insisted to train every day - to get the touch and feeling. This really is not a fully mechanical thing, it is YOUR finger that pulls the trigger. It works ONLY with your help, not with bare indicators or only luck.
  • #5,047
  • Aug 4, 2009 10:04am Aug 4, 2009 10:04am
Trades from today

6 trades 5 wins
1 loss Which would have went positive had I let it run

+5 net


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  • #5,048
  • Aug 4, 2009 10:09am Aug 4, 2009 10:09am
Skyzer, I think it's good that flaws in any system be brought to light. However, on the chart you posted, the only losing trade I see is the 8th arrow, which was a long trade. All of the others should have made +5 pips. The 9th arrow would have made 5 pips with a 30 plus stop loss. The last arrow is still open.

9 out of 10 for 5 pips = +45
1 loss at 33 pips= -33.

Perhaps the risk to reward issue has to be looked at, as I do feel a stop of over 30 pips is too large for a 5 pip gain. This is where the traders judgement would come into play, and perhaps get more than 5 on occasion as Glen eagles seemingly does with ease. Or, manually closing out when you see a lost cause.

No system bats 100% all the time, and valid criticism is warranted. But, in the case you posted, I can't see how you could come up with a loss.
Quoting SkyzerFX
Anyways I strongly feel that using this system in range market
it's like flipping a coin cause those TRIX alarms going SELL/ BUY
every few minutes.... Check this out. Those tiny red lines on the charts are
SL (17) and TP (5)
Perfect example how you
can LOSE 20-30 pips a day instead of making it:
  • #5,049
  • Aug 4, 2009 10:09am Aug 4, 2009 10:09am
This is my first experience with trading the yen crosses (recommended for nitro) and I'm getting stopped out more than I'd like - does anyone set their stops to SL +- the spread?

TIA
Old Benjamin was right
  • #5,050
  • Aug 4, 2009 10:10am Aug 4, 2009 10:10am
Just an information: EA won all long trades today and lost both short ones that he finally took. So, we can use it if we allow it to trade only long
  • #5,051
  • Aug 4, 2009 10:11am Aug 4, 2009 10:11am
Quoting SkyzerFX
I'm sorry I just trying to follow the system, that's all. Maybe I'm that
unlucky, but that's why I'm using it, to rely not on luck, but on the
system and so far cannot win.. I'm not saying it's bad, I just cannot
make it work. But hey, maybe
I'll apply something else to make it work..? Will try it on higher TF maybe
15M? to reduce noise? Still trying..

Indrek did that already (draw lines ) thanks!!!
Heres is another question. Where is the Trix indicator on your charts?
  • #5,052
  • Aug 4, 2009 10:13am Aug 4, 2009 10:13am
Quoting paradoxical
Skyzer, I think it's good that flaws in any system be brought to light. However, on the chart you posted, the only losing trade I see is the 8th arrow, which was a long trade. All of the others should have made +5 pips. The 9th arrow would have made 5 pips with a 30 plus stop loss. The last arrow is still open.

9 out of 10 for 5 pips = +45
1 loss at 33 pips= -33.

Perhaps the risk to reward issue has to be looked at, as I do feel a stop of over 30 pips is too large for a 5 pip gain. This is where the traders judgement would come into play, and...

I dont think a hard stop loss is a good idea here, at least anything less than 30+ spread just in case, I would say your best bet is to manualy close a trade if a brick goes against you, which will be about 20pips give or take.
  • #5,053
  • Aug 4, 2009 10:15am Aug 4, 2009 10:15am
Quoting Edgetrader
As that seems to be a MT4 platform, simply drag and drop the trades onto the charts and it will really give a better visual aid to both myself and the thread in general.

Regards.
Thanks! That worked.
Attached Image (click to enlarge)
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I don't know what time it is at your place, but right here it's 4:20.
  • #5,054
  • Aug 4, 2009 10:16am Aug 4, 2009 10:16am
Today, I got a late start & could only make 3 trades. I took only quality trades, which for me, means trading WITH the overall trend that can easily be seen with DXTrade's indicator and also the small 3 ducks indicator. I simply waited patiently until there was a pullback and entered long when it came back around. I took NO short trades today because on the 4 pairs that are part of the C4 strategy, they were showing all long.
I know some succeed going against the overall trend for a quick 5. Whenever I've tried it in the past, it came back to bite me.
15 pips and done, because I have to leave. Happy with that because it's a system that should work MOST of the time. The key is patience and not taking a trader just to take one when things are choppy. Tomorrow, I think, forex will still be here.
  • #5,055
  • Aug 4, 2009 10:17am Aug 4, 2009 10:17am
Quoting paradoxical
S But, in the case you posted, I can't see how you could come up with a loss.
Yeah, cannot believe it myself that trade was short exactly 1 pip, should
take 4 pip profit. That was second trade I execute from Renko chart as
trigger there little bit behind (5min acting faster).
Another trade triggered from 5M (few sec earlier) I take it
and got 5 pips.. This one showing on chart was 1 pip too late and
it run over my 17 pip stop loss
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  • #5,056
  • Aug 4, 2009 10:24am Aug 4, 2009 10:24am
Quoting 4xtrader2
Edge,
In the original version we were using an LWMA and I see you have switched it to an HMA.

Also somewhere in the posts you indicated that Price had to cross the LWMA for the signal to be valid.

With this new HMA I don't see that this could be part of the recommendation now as the settings place the HMA on a downside bias which would make it more difficult for price to cross first.

Also, the Scalper candles are set for 2,1,1,1 while the TRIX indicator is set for 3,1,1,1 which causes it to lag the Scalper candles by sometimes 2 bars.

I...
C4 is designed to get a trader thinking constantly. This helps make them sharp and alert. It also is an attempt to BREAK them from thinking totally mechanical trading constantly.

This is why it is important to initially learn to 'improvise, adapt and overcome'.

This thread is not going to be the run of the mill type where a trading plan is provided and you can just trade it or not. My goal is modest, but it is not that modest.

So lets answer your concerns.

As of the update and how to trade C4, it does not show that PA has to cross a MA. It states that the HMA needs to change color. If a trader wishes to use a 12 WMA instead of the HME (8,3,3,true,2,0), that is fine. Put such on a chart and there is not much difference. PA will cross the MA about the same time the HMA changes color. As such, I provided a 'colorful' indi substitution into the plan for convenience as most people are very attuned to simply watching one of the MT4 indi's change color.

Next, the trap is set and sprung. Consider this. If you are trading C4, and you are using a 'SM Scalper' candle which is set at 2,1,1,1, then that is already your trix setting as those candles are trix based. As such, an ADDITIONAL trix indicator set with different settings is going to cause some issue. It is REDUNDANT and not needed. BOOM! Got to constantly think of what those indicators are and how they are designed.

Originally, I had a simple 12 WMA and a BASIC trix and nothing more. That seemed too simple for many and the indi envy began. So, I was inclined to see just how complicated someone could make a simplistic plan. Obviously, anything utilized now in any capacity shows only the same thing as day 1 did.

So, it seems best to use the HMA and trix candles as both primer and detonator to me. The candle turn color as per a trix and the HMA turns color. Simple stuff.

Sorry you had to be the sacrificial lamb, but just want everyone to use that brain matter and concentrate on PA more than indicators. Remember, indicators ALL lag. They confirm a trading direction hypothesis that needs to be developed based on discretionary viewing of PA.

Not a sole involved in this thread, whether a member or visitor, is going to find that ultimate mechanical trading plan. You must, as a human being, first 'learn'.

Now that my own little experiment is completed, will change the front page as there are not as many new folks any more. Most have been reading for a bit and this should get everyone thinking for sure.

Regards.
  • #5,057
  • Aug 4, 2009 10:24am Aug 4, 2009 10:24am
Hello Tommy

Many thanks friend for your help
Finally managed to get it. One thing I did not understand is for renko charts there is no TF?

OK trix is behaving very badly when i attached to the chart anyidea why?
Attached Image (click to enlarge)
Click to Enlarge Name: renko1.png Size: 111 KB
  • #5,058
  • Aug 4, 2009 10:26am Aug 4, 2009 10:26am
Just Grab 10 pips there based on Day Low/Day high Green lines
(could wait for more)
Attached Image (click to enlarge)
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  • #5,059
  • Edited 10:32am Aug 4, 2009 10:29am | Edited 10:32am
Quoting adler
Hello Tommy

Many thanks friend for your help
Finally managed to get it. One thing I did not understand is for renko charts there is no TF?

OK trix is behaving very badly when i attached to the chart anyidea why?
It takes a few bricks to settle down. Wait for more history and it will be OK.

You may have to zoom in so as not to display the first few values- they are always huge, so you can't see the normal ones.
  • #5,060
  • Aug 4, 2009 10:35am Aug 4, 2009 10:35am
Didn't trade EU yesterday- just watched.

Today 4 losses & 2 wins.

First two losses were partly due to not being fully prepared.... I changed to the HMA but forgot to change the setting which was still set at the 20 default!

Apart from that balls up, most losing trades were pulled before the SL was triggered, which I know goes against the set-and-forget rule. Fwiw, the last loss would have been a win if I did not pull it.

Anyway the trades are as follows:
-3, -5, -6, +6, +6, -11

Chart attached below
Attached Image (click to enlarge)
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