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C4 Scalping

  • #5,241
  • Aug 5, 2009 6:25am Aug 5, 2009 6:25am
Quoting pilotui
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
True for every long there is a short, but in a clear uptrend, the long signals have higher probability of playing out. My skill level is not good enough yet to take the counter trend moves .. I win some, lose some when I do, so for the moment I try to stick with the higher probability trades. But .. if you are making money, no one can argue with that!
******************* I'd rather make money than be right.
  • #5,242
  • Aug 5, 2009 6:27am Aug 5, 2009 6:27am
First post of a trade. I still have the Spectrum shown - I use it to see continued trend - seems to work well in this role. Otherwise it is Edge + 21EMA. It actually went a bit higher but as it retraced I pulled the plug for 9 pips. White line in 2nd window is MOM (4).
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  • #5,243
  • Aug 5, 2009 6:38am Aug 5, 2009 6:38am
Quoting madscalp
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.
madscalp,

No problem.......my system is definitely not a 100% system. I try to look for " better quality " signals and try to get the odds on my side before pulling the trigger.

I will gladly share with you any losers if you can learn from it...I certainly learn from the losing trades myself.

Some trades will fail because it is just how forex works and some will fail because of trader error..both ways you learn and try to minimize the losses.
" Never let the past hold the future to ransom "
  • #5,244
  • Aug 5, 2009 6:39am Aug 5, 2009 6:39am
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?
I don't think this is a 'see the arrow ...push the plunger' type of trading.
the arrow is used as a signal that a setup might be developing.

At that point your brain has to take over and look at all other conditions.

I personally always look for a reason NOT to enter a trade. Keeps me from wanting to see things that aren't actually there.

One needs to let PA develop a little before detonating

Just my opinion and what has worked for me.

Greg
  • #5,245
  • Aug 5, 2009 6:46am Aug 5, 2009 6:46am
Hi All,

My second post, and an attempt to get the attachment process right as well.

I have taken more trades since my first post and have had reasonable success. I added an ea that simply sets SL 30 and TP 5 after I open a trade. I did let one run to its full 30 pip SL - I need to address that behaviour and try to cut those short - but overall things have gone OK.

A quick question on trending if I may. With the four trend values on the "DX Trade Info" display (ATR, ADX, Trix & Trix 15) am I aiming for the ultimate alignment of all 4 to indicate the preferred trade direction ? or are some more important than others ?

Cheers,

David
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  • #5,246
  • Aug 5, 2009 6:52am Aug 5, 2009 6:52am
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.
John, this one may help you
Attached File(s)
File Type: mq4 Grid Builder.mq4   3 KB | 517 downloads
  • #5,247
  • Aug 5, 2009 6:58am Aug 5, 2009 6:58am
Quoting David
Hi All,

A quick question on trending if I may. With the four trend values on the "DX Trade Info" display (ATR, ADX, Trix & Trix 15) am I aiming for the ultimate alignment of all 4 to indicate the preferred trade direction ? or are some more important than others ?

Cheers,

David
David,

That is something that has come up on C4 and Nitro.

The plan is to trade the signal, trade the signal, trade the signal.....

With your primer and detonator, regardless of which you choose, that i when to take the trade.

However, it has been discussed and those that want some other confirmation or wish to trade a little more conservatory have chosen to look at the longer trend using the 15M say, or look at if the ATR shows there is enough movement in the price to warrant a trade. All the information that DX kindly added to the screen is there to help you make your decision.

If the primer is set and the detonator has signaled it is up to you if you want to push the plunger. Hesitate and it may be over, but it will never EVER be a guaranteed entry.

I personally have used the info to help make up my mind but really understand the need to be able to react to the primer and detonator without fear and just trade the system, edges system.

Good luck and for info the pic worked this time.
  • #5,248
  • Aug 5, 2009 6:59am Aug 5, 2009 6:59am
Used a trade manager today for the first time in my life. Quik_Trailing works really good.
All trades taken only with Trix3 + LWMA12, so no violation of basic rules with entries
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  • #5,249
  • Aug 5, 2009 7:34am Aug 5, 2009 7:34am
Very nice thanks for the hint !

Quoting DXTrade
Those who purchased the Renko Script... there is an update to download where you bought it where you can chose to show the wicks.
Nice stuff for backtesting!
  • #5,250
  • Aug 5, 2009 7:39am Aug 5, 2009 7:39am
Quoting davidhh
Hi All,

My second post, and an attempt to get the attachment process right as well.

I have taken more trades since my first post and have had reasonable success. I added an ea that simply sets SL 30 and TP 5 after I open a trade. I did let one run to its full 30 pip SL - I need to address that behaviour and try to cut those short - but overall things have gone OK.

A quick question on trending if I may....
The ATR Trend on my Info Indicator is a little biz confusing: It shows DOWN when the smaller ATR is below the bigger ATR which doesn't mean a down trend, but a low market activity. So even if you plan to sell the ATR Trend should be Up as an extra confirmation.
Not making sense on Renko candles anyway.

Will maybe rename this part later tomorrow
"The only successful substitute for brains is silence."
  • #5,251
  • Aug 5, 2009 7:39am Aug 5, 2009 7:39am
Hi,

before trading C4 I had an indicator on my charts called "BarScalper MACD" that showed me when the market ranged and trading was not successful. Since I'm a very eager follower of Edgetrade and "less is more" I took it off my charts.

Today I was playing a bit around, put "BarScalper MACD" on my (new) Renko-chart and was a little astonished:

1. it works on Renko
2. after changing the settings it looks similar to smTrix
3. it realy showed again the periods you better do not trade.

--> Look at the yellow rectangles

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Now I got the idea whether it cold be possible that

- Mr. Swingman could code such an non-trading corridor as an attachment to smTrix.
- Mr. Edgetrader would give that idea a trial

I know that there is nobody in our community who wants to clutter his charts but "no-trading-areas" to been shown could be an advantage.

Regards.
If there are pips you can collect - just do it!
  • #5,252
  • Aug 5, 2009 7:41am Aug 5, 2009 7:41am
Quoting wannaberich
aren't ranging markets better for scalping, capturing all the small profits of the back and forth movements?
Depends for whom.. You don't need Indies in Range market, none of them.
Use Yesterday High_LOW, and buy Low sell High, Stops are
above resistance and below support whatever numbers you comfortable
with. I'm not playing 5 pips in Range market.. Could take 20-30 pips,
just sit in trade longer, why wait for setup 40 minutes to just bailout
with 5 pip profit..?
Today seems Dollar pairs also ranging - we'll see..

Forgot to tell you, the best way to trade it, - DON'T WATCH it at all, when your trade executes, just ADD
TP and SL and go walk or something, otherwise more likely you will bailout with few pips..

I set one trade yesterday and go to sleep it hits and make me 38 pips.. Range market you know where to buy
and where to sell.. Place pending orders and go fishing...
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #5,253
  • Aug 5, 2009 7:43am Aug 5, 2009 7:43am
First +5 for today.
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  • #5,254
  • Aug 5, 2009 7:43am Aug 5, 2009 7:43am
+5 and +1
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"The only successful substitute for brains is silence."
  • #5,255
  • Aug 5, 2009 7:44am Aug 5, 2009 7:44am
C-4 Live Trade......I could have taken 1-2 more trades.....Need something to filter Over sold/bought so don't jump in to late or miss a good trend to jump in and out of...Any ideas anyone???
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  • #5,256
  • Aug 5, 2009 7:59am Aug 5, 2009 7:59am
Quoting studbiol
Hi,

before trading C4 I had an indicator on my charts called "BarScalper MACD" that showed me when the market ranged and trading was not successful. Since I'm a very eager follower of Edgetrade and "less is more" I took it off my charts.

Now I got the idea whether it cold be possible that

- Mr. Swingman could code such an non-trading corridor as an attachment to smTrix.
- Mr. Edgetrader would give that idea a trial
I can try, no problem. Have you the source code of the indicator? Many months ago I posted a very, very similar indicator...
I suppose is my indicator, but now I'm not on my computer. The indi information is very good, you are right.
  • #5,257
  • Aug 5, 2009 8:03am Aug 5, 2009 8:03am
Hey swingman..nice to see you back.
Quoting SwingMan
I can try, no problem. Have you the source code of the indicator? Many months ago I posted a very, very similar indicator...
I suppose is my indicator, but now I'm not on my computer. The indi information is very good, you are right.
  • #5,258
  • Aug 5, 2009 8:05am Aug 5, 2009 8:05am
Quoting pilotui
Man, what a difference Nitro is over C4. Seriously...I used my real FXCM UK acct but only traded 10K lots...down from my normal 500K size! It always happens that when I scale back I make money and when I go big or go home...well I usually go home empty-handed.

Kudos to Edge and all those who have worked on Nitro...It is AMAZING.

Here are my first 2 Nitro trades. +43 pips in @ 15 Min.

Followed the exact setup/entry rules on the 1st post. Brilliant!!

Hi pilotui congrats for your first 2 nitro trade, can you tell me where you buy your renko chart package for MT4 ? Sorry if you had already answer to this kind of question so just tell at what post you did ! thanks

Luk
  • #5,259
  • Aug 5, 2009 8:11am Aug 5, 2009 8:11am
And another +5 and +1
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"The only successful substitute for brains is silence."
  • #5,260
  • Aug 5, 2009 8:15am Aug 5, 2009 8:15am
Quoting Gleneagles
HMA 12 3 3
Trix 3 1 1 1

You can download from Page 1, first post.

Hi Gleneagles...catching up with the thread and have only got to your Post 4996, so this question may have been asked & already answered..
are you using a 'simple Trix', or the 'SM Super Trix PV4' per page 1, which Edge recommends for Nitro?

Thanks..Freddi
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