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C4 Scalping

  • #5,161
  • Aug 4, 2009 6:04pm Aug 4, 2009 6:04pm
Quoting waddij
PGPB,

Am with Oanda and the spreads are good, most of the Nitro pairs range from 0.8 to 3.5.... not that many charting options though so use FXDD for charts. Has a few problems when it comes to difference in price not that much to cause too many problems though.

Have had a nightmare day taking trade that just weren't there AT ALL and puting on longs instead of shorts.....killed my perfect run of 13 for 13 but and writing off the day to bad operator. Nitro cant be blamed if the private blows himself up not the enemy!

I have found that my Renko...
Hi,
Yes, I have found that the Renko start price can make a big difference. It would be good to have some consistency e.g. have it so that for a 10 pip block they always start at xxx0 and on a 5 pip block they start at xxx0 or xxx5.

Ian
  • #5,162
  • Aug 4, 2009 6:10pm Aug 4, 2009 6:10pm
Quoting SkyzerFX
Indeed.. On my list here I see 9/2/3 for HMA_norep, could this be any better maybe?
HMA should be closer to action (IMHO), but I'm sure you are more
experienced trader and I could be wrong.. But changing few setting
here and there and see how it looks won't hurt anyways..
While i think 9,2,3 was good, and will work. Looking back (which always looks beautiful) I would say 8,3,3 may be a more optimal setting, if your uncomfortable with the quick chages increase things until they fit you, but I don't think you will want to go beyond 12-13 instead of 8, they do smooth out the HMA a bit.
  • #5,163
  • Aug 4, 2009 6:37pm Aug 4, 2009 6:37pm
TO WANNABERICH

Stop immediatly ! Your 5000 $ will be like a slice of butter in the middle of Sahara desert in a couple of days... or more : only hours !
Set Lot at 0.5 or 1 if you have a 1/ a tested plan, 2/ a tested plan 3/ a tested plan
IF YOU HAVE NO PLAN : go back in demo asap ! And test a plan for trading.... If, after 6 mounths (at least) your success is around 75 % wins/25 % loose, you perhaps can go live... Perhaps... coz live is another story...
My 2c
(In 2006 in was like you : King of Fx... Beautiful MC in 1 month... Since then I am in demo trying to avoid my fear and building slowly a "success plan")
Si les cons volaient, il ferait toujours nuit...
  • #5,164
  • Aug 4, 2009 6:49pm Aug 4, 2009 6:49pm
Hello guys

I have an announcement to make:
After letting run the EA the whole night (Philippines) I decided to abandon the EA project.
The EA took sells as well, all fine now... but I definitely prefer manual trading.

Trading is a profession and EA shortcuts are always a way to NOT LEARN and to lose money.

I will delete slowly all my EA posts from this thread.

My motivation and probably the one of Edge and the thread is to scalp an easy to follow system and learn how to master yourself.

Here we go.

Hope you don't mind.

Maybe there is a brilliant genius coming up one day to deliver an EA for this way of trading... until then: Let's move our fingers to pull the trigger.

See you with manually traded charts
"The only successful substitute for brains is silence."
  • #5,165
  • Aug 4, 2009 7:00pm Aug 4, 2009 7:00pm
Quoting wannaberich
Hi everyone,

it's both amazing and frightening to understand how much our mind can play trickks with us: i spent the whole day acumulating losses, in fact i lost all the $ i had earned yesterday with the bulls on the EU, trying to scalp.

what is funny (or stupid, you name it) is that right now i look at most of the trades and they were all against the existing movement! some how it's as if they were ment to lose money. how come i didn't see it all day. i was getting kind of desperate, huge headache, revenge trading, doing everything i shouldn't......
You're going to fail at this rate. Fail horribly.

With respect wannaberich, you're commenting on the fact that trading psychology is huge barrier. Every good trader knows that and has already fixed their approach before risking such a huge amount especially with only a $5000 account!

And you're revenge trading which includes being desperate, getting headaches. There is no reason whatsoever, for you to be risking that much.

With a 20 pip loss you're already destroying 10% of your account. Gotta change that quick. Ask any good trader, and they'll tell you.
  • #5,166
  • Aug 4, 2009 7:01pm Aug 4, 2009 7:01pm
My motivation and probably the one of Edge and the thread is to scalp an easy to follow system and learn how to master yourself......

Compact and precise.......


Cheers !
  • #5,167
  • Aug 4, 2009 7:13pm Aug 4, 2009 7:13pm
Edge......

New thread coming up..... C4 Scalping - for Poor Traders

??????
  • #5,168
  • Aug 4, 2009 7:16pm Aug 4, 2009 7:16pm
Quoting wannaberich
Hi everyone,

it's both amazing and frightening to understand how much our mind can play trickks with us: i spent the whole day acumulating losses, in fact i lost all the $ i had earned yesterday with the bulls on the EU, trying to scalp.

what is funny (or stupid, you name it) is that right now i look at most of the trades and they were all against the existing movement! some how it's as if they were ment to lose money. how come i didn't see it all day. i was getting kind of desperate, huge headache, revenge trading, doing everything i shouldn't......
5000$ account * 2% = RISK = $100

25$ = POSITION SIZE

RISK = STOP LOSS * POSITION SIZE

RISK / POSITION SIZE = STOP LOSS

100$ / 25$ = STOP LOSS = 4

4 pip stop loss. Lower position size give trade more room and time to mature. You must control your pips.
  • #5,169
  • Aug 4, 2009 8:04pm Aug 4, 2009 8:04pm
Quoting pilotui
I feel that I need to redeem myself! I have strayed from simplicity, and have been smacked in the face (among other areas).

The only way I could sleep tonight was by cleansing my MT4 of all my ridiculous flavor of the day indicators!!

I'm ready to learn again, I am ready for help, and I am ready to embrace less is more.

There's a reason I found this thread, and it is because NONE of the indy's I was using before have been working.

Here is my template, built to mirror the example on the updated post #1.

I wrote myself this note today:...
Just wanted to ask how you are doing today? It's a difficult road to success here but I appreciated your honesty and was wondering how you are progressing? When I first started with this C4 strategy, I started live and lost money for 2 weeks straight. However, the discipline is starting to pay off in that I have watched the losses become less and less and now for the last two days I have actually made a profit each day. Take it one day at a time and discipline yourself to stick to the basics. Once you master the basics (i.e. make consistent profits) then you can move on. But don't give up. You can do it.
4XTrader2
  • #5,170
  • Aug 4, 2009 8:20pm Aug 4, 2009 8:20pm
Quoting 4xtrader2
Just wanted to ask how you are doing today?...
I'm well today! I upgraded to NITRO last night and made only 2 trades today: I netted 43 pips in 15 min... (I posted my charts earlier in the day)

Nitro just clicked for me...I really like the addition of the momo indicator, for me that sealed it!

Thank you for asking, and the encouraging words!

-Darren
  • #5,171
  • Aug 4, 2009 8:28pm Aug 4, 2009 8:28pm
Agreed
Quoting pilotui
I'm well today! I upgraded to NITRO last night and made only 2 trades today: I netted 43 pips in 15 min... (I posted my charts earlier in the day)

Nitro just clicked for me...I really like the addition of the momo indicator, for me that sealed it!

Thank you for asking, and the encouraging words!

-Darren
  • #5,172
  • Aug 4, 2009 8:38pm Aug 4, 2009 8:38pm
Quoting pilotui
I'm well today! I upgraded to NITRO last night and made only 2 trades today: I netted 43 pips in 15 min... (I posted my charts earlier in the day)

Nitro just clicked for me...I really like the addition of the momo indicator, for me that sealed it!

...

-Darren
Glad to hear things are working better for you.

I like Nitro too but decided that my biggest problems are with my self-discipline. That's why I am trading C4 until I am consistent. I suspect it will take a couple of months to really become consistent at it (I'm not the brightest bulb in the string). I use TS as my other platform so when I want to graduate to Nitro I will do it on TS. I am in agreement with Edge that TS is a superior platform plus I can use intermarket analysis (such as correlating the DOW to the USD).

Happy Trading!
4XTrader2
  • #5,173
  • Aug 4, 2009 8:58pm Aug 4, 2009 8:58pm
Quoting pgpb
The choice of the various pairs to use is one that I am wrestling with.
The broker I am currently using (interbankfx) has a 6 pip spread on the AUDJPY, so for me to scalp 5 pips I need to get 11

although part of me says....if Edge says jump, I should say how high......the other part of me says it does not make sense for me to trade the AUDJPY

I am considering moving to Onanda as they have much better spreads.
My broker has a 7 pip spread on the AJ and I still make money from it following C4 & Nitro. Same with CH/J ( pp spread) and GY (9 pip spread).
Once you just start working the system & stop questioning it (which is not easy, I admit!), the pips start rolling in

So far this week, 23 winners, 4 losers, acct up 10%
******************* I'd rather make money than be right.
  • #5,174
  • Aug 4, 2009 9:03pm Aug 4, 2009 9:03pm
Quoting DXTrade
Hello guys

I have an announcement to make:
After letting run the EA the whole night (Philippines) I decided to abandon the EA project.
The EA took sells as well, all fine now... but I definitely prefer manual trading.

Trading is a profession and EA shortcuts are always a way to NOT LEARN and to lose money.

I will delete slowly all my EA posts from this thread.

My motivation and probably the one of Edge and the thread is to scalp an easy to follow system and learn how to master yourself.

Here we go.

Hope you don't mind.

Maybe there...
I agree completely!!
******************* I'd rather make money than be right.
  • #5,175
  • Aug 4, 2009 9:04pm Aug 4, 2009 9:04pm
Quoting Ace284
You're going to fail at this rate. Fail horribly.

With respect wannaberich, you're commenting on the fact that trading psychology is huge barrier. Every good trader knows that and has already fixed their approach before risking such a huge amount especially with only a $5000 account!

And you're revenge trading which includes being desperate, getting headaches. There is no reason whatsoever, for you to be risking that much.

With a 20 pip loss you're already destroying 10% of your account. Gotta change that quick. Ask any good trader, and...
I think that was a bogus post ..note it was a first post. Just to stir up the pot, no one would actually do that unless they have an endless supply of money.
******************* I'd rather make money than be right.
  • #5,176
  • Aug 4, 2009 9:32pm Aug 4, 2009 9:32pm
Hi, DXT, just clarifying your trade arrow settings are 3,8,8 or (to match post 1 settings 2,8,8).
Regards,
D.
where thought goes energy flows
  • #5,177
  • Aug 4, 2009 9:44pm Aug 4, 2009 9:44pm
Quoting PipControl
5000$ account * 2% = RISK = $100

25$ = POSITION SIZE

RISK = STOP LOSS * POSITION SIZE

RISK / POSITION SIZE = STOP LOSS

100$ / 25$ = STOP LOSS = 4

4 pip stop loss. Lower position size give trade more room and time to mature. You must control your pips.
Um, is this a joke? Or am I missing something? 4-pip stop-loss!?

-JR
Be happy, be humble.
  • #5,178
  • Aug 4, 2009 9:52pm Aug 4, 2009 9:52pm
Quoting J-r
Um, is this a joke? Or am I missing something? 4-pip stop-loss!?

-JR
I think what he is trying to say is that a 4pip stop loss on an order represents a 2% hit to his account,meaning that's not good.
  • #5,179
  • Aug 4, 2009 9:53pm Aug 4, 2009 9:53pm
Quoting DXTrade
Hello guys

I have an announcement to make:
After letting run the EA the whole night (Philippines) I decided to abandon the EA project.
The EA took sells as well, all fine now... but I definitely prefer manual trading.

Trading is a profession and EA shortcuts are always a way to NOT LEARN and to lose money.

I will delete slowly all my EA posts from this thread.

My motivation and probably the one of Edge and the thread is to scalp an easy to follow system and learn how to master yourself.

Here we go.

Hope you don't mind.

Maybe there is a brilliant...
I fully agree as well with your decision. At 20 pips SL this EA has got not a chance of survival. By removing it, you will allow the group to focus on what the thread was intended for - manual application of the C4 scalping concept. It was starting to head in the wrong direction for a while there with the EA. Thanks for your effort and good intentions DX.
If it backtests good run it live!
  • #5,180
  • Aug 4, 2009 10:00pm Aug 4, 2009 10:00pm
Quoting J-r
Um, is this a joke? Or am I missing something? 4-pip stop-loss!?

-JR

If it is not a joke now, it soon will be.

Regards.
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