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C4 Scalping

  • #5,221
  • Aug 5, 2009 5:19am Aug 5, 2009 5:19am
Quoting pilotui
Is this indicator on the background your Fibonacci Pivots? Thanks
Yes sir...
"The only successful substitute for brains is silence."
  • #5,222
  • Aug 5, 2009 5:24am Aug 5, 2009 5:24am
I dont know how to miss that ranging market condition like lets say it was this Asia sesion..

That ATR of you might help or?

Please if you have some ideas about it too..

I alwayes get entry signal then after a 3,4 min i get an sell then buy then sell than ...

How much i earn during the day i can loos on that r market

Regards

Still cannot pm you
Work smart not hard
  • #5,223
  • Aug 5, 2009 5:26am Aug 5, 2009 5:26am
Quoting wannaberich
4xstar,

But if we wait for the market to trend isn't it a better strategy to ride the wave instead of scalp?

aren't ranging markets better for scalping, capturing all the small profits of the back and forth movements?

i am not challenging just trying to learn...
If you are very skilled you can play the ranging markets, however if you are still acquiring skills, better to stick with the trend and only watch for long setups when a pair is clearly rising on the higher tf's or vice versa for shorts. At least IMHO!
******************* I'd rather make money than be right.
  • #5,224
  • Aug 5, 2009 5:27am Aug 5, 2009 5:27am
Hmmm...I looked at this trade with both 2 and 3 Trix values...please compare the charts.

With the 2 Trix...clearly it closed as a short...then turned right around and took my SL @ -30

With the 3 Trix (1st chart on the left) it was obviously NEVER a short trade and simply a continuation of the trend.

I think I'll be leaving my Trix on 3 as I'd rather be a little late than enter a trade that doesn't exist.

Just my thoughts...anyone else notice this?
Attached Image (click to enlarge)
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  • #5,225
  • Aug 5, 2009 5:30am Aug 5, 2009 5:30am
Quoting johny pip
Sorry to keep banging on but this is my point exactly. On the Renko chart you showed it is easy to see the scale of the problem. With the same data on a candle chart you cannot see the scale unless you inspect the very small numbers on the right hand side. With a 10 pip grid the scale of the trends and range of the last few candles becomes obvious.

Could someone help please?

John.
Here you go:
http://www.forexfactory.com/t/10128/grid-indicator-replaces-chart-gird-1.html

I just put in search box at top of this page: horizontal lines on chart.
******************* I'd rather make money than be right.
  • #5,226
  • Aug 5, 2009 5:36am Aug 5, 2009 5:36am
Quoting pilotui
Hmmm...I looked at this trade with both 2 and 3 Trix values...please compare the charts.

With the 2 Trix...clearly it closed as a short...then turned right around and took my SL @ -30

With the 3 Trix (1st chart on the left) it was obviously NEVER a short trade and simply a continuation of the trend.

I think I'll be leaving my Trix on 3 as I'd rather be a little late than enter a trade that doesn't exist.

Just my thoughts...anyone else notice this?
I have never used Trix 2... Too nervous, especially if used with Hull that is also crazy
  • #5,227
  • Aug 5, 2009 5:39am Aug 5, 2009 5:39am
Quoting pilotui
Hmmm...I looked at this trade with both 2 and 3 Trix values...please compare the charts.

With the 2 Trix...clearly it closed as a short...then turned right around and took my SL @ -30

With the 3 Trix (1st chart on the left) it was obviously NEVER a short trade and simply a continuation of the trend.

I think I'll be leaving my Trix on 3 as I'd rather be a little late than enter a trade that doesn't exist.

Just my thoughts...anyone else notice this?
Possibly .. but here is another example of watching a higher tf. The GU is heading seriously north these past days and personally I only watch for long setups and would have been looking at those 2 down renko bars as just a pullback .. i.e. that would have been my expectation seeing them so I would be waiting for a new long to signal. Any short setup I saw, I would probably ignore, maybe miss out .. but overall I think it is safer to ride with the larger trend.
Again, only with clear C4 or Nitro setups ..not just jumping onto a trend because I "think" it is going that way. That's what I used to do! LOL
******************* I'd rather make money than be right.
  • #5,228
  • Aug 5, 2009 5:42am Aug 5, 2009 5:42am
truth is a usually make some pips when the markets trending only to loose them when it is ranging...

this is why i want to learn to scalp!
dreams do come true.
  • #5,229
  • Aug 5, 2009 5:43am Aug 5, 2009 5:43am
Quoting 4xStar
Possibly .. but here is another example of watching a higher tf....
Ok, I respect your opinion. I just feel that only playing long positions is like utilizing half of your ability. I agree with you on the Higher TF idea...But for every long there's a short...in this case it was a false 2 trix signal that I wouldn't have traded if Trix was set to 3.

Cheers

Darren
  • #5,230
  • Aug 5, 2009 5:47am Aug 5, 2009 5:47am
4xStar,
You are a star! Thank you very much, looks great, I'll give it a go. With my dodgy mincers this will be a great help.
  • #5,231
  • Aug 5, 2009 5:59am Aug 5, 2009 5:59am
GBPUSD

If you want to take a trade that " looks" counter trend or signals as a counter trend trade with whatever filter you choose to employ..consider a smaller TP and a smaller position to trade with.

PS I just drew vertical lines at 17000 level and a previous high as a visual in case the trade bounce back, so I can close it manually.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #5,232
  • Aug 5, 2009 6:02am Aug 5, 2009 6:02am
Phew Just read all posts. Thanks to Edge for this fine thread http://www.forexfactory.com/images/icons/icon14.gif .

About a week and a half behind the start Ive done a bit of M80 and C4 and moved onto Nitro this week, is this too soon?

Also with the less is more concept would tageting 1 or 2 pips just be pushing it too far?
  • #5,233
  • Aug 5, 2009 6:05am Aug 5, 2009 6:05am
I only took 3 trades today.

First sell trade on GBPUSD..same one lucky lady posted plus 2 long trades on GBPUSD.
" Never let the past hold the future to ransom "
  • #5,234
  • Aug 5, 2009 6:07am Aug 5, 2009 6:07am
Quoting Gleneagles
GBPUSD

If you want to take a trade that " looks" counter trend or signals as a counter trend trade with whatever filter you choose to employ..consider a smaller TP and a smaller position to trade with.

PS I just drew vertical lines at 17000 level and a previous high as a visual in case the trade bounce back, so I can close it manually.
Hi glen
Could you post also your loser trades to explain us the wrong way ?
Many thx.
  • #5,235
  • Aug 5, 2009 6:09am Aug 5, 2009 6:09am
Have you noticed the bulls coming into the EU?
dreams do come true.
  • #5,236
  • Aug 5, 2009 6:10am Aug 5, 2009 6:10am
Quoting sony
I dont know how to miss that ranging market condition like lets say it was this Asia sesion..

That ATR of you might help or?

Please if you have some ideas about it too..

I alwayes get entry signal then after a 3,4 min i get an sell then buy then sell than ...

How much i earn during the day i can loos on that r market

Regards

Still cannot pm you
Just skip the Asian session, there are lots of activity and better setups normally during LDN and NY session.
" Never let the past hold the future to ransom "
  • #5,237
  • Aug 5, 2009 6:11am Aug 5, 2009 6:11am
Naughty Uli... I did it again
Attached Image (click to enlarge)
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"The only successful substitute for brains is silence."
  • #5,238
  • Aug 5, 2009 6:19am Aug 5, 2009 6:19am
Quoting madscalp
Hi glen
Could you post also your loser trades to explain us the wrong way ?
Many thx.
Of course... I had a loser on GBPJPY which I posted a while ago..countertrend.

No losers so far during past 6 trading days but there will definitely be a few on the way. I take them in my stride if and when they happen, I look at my trades in lots of 20 trades. Profit or loss on every lot of 20 trades? Treating every trade like a life-or-death situation takes your eye of the ball.

I will post of summary of the trades or a MT4 link maybe so the trades can be reviewed if it is of interest. I will be doing contract trading for a few days so it may be easier rather than clog up the thread with charts.
" Never let the past hold the future to ransom "
  • #5,239
  • Aug 5, 2009 6:21am Aug 5, 2009 6:21am
Quoting Gleneagles
Just skip the Asian session, there are lots of activity and better setups normally during LDN and NY session.

I will do that way...
Work smart not hard
  • #5,240
  • Aug 5, 2009 6:24am Aug 5, 2009 6:24am
Quoting Gleneagles
Of course... I had a loser on GBPJPY which I posted a while ago..countertrend.

No losers so far during past 6 trading days but there will definitely be a few on the way. I take them in my stride if and when they happen, I look at my trades in lots of 20 trades. Profit or loss on every lot of 20 trades? Treating every trade like a life-or-death situation takes your eye of the ball.

I will post of summary of the trades or a MT4 link maybe so the trades can be reviewed if it is of interest. I will be doing contract trading for a few days so it...
OK . Don't see aggresiveness in my words.
I'ts just to understand why some trades with your rules can fail ( if there is an explanation).
Regards.
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