C4 Scalping | Page 268 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

scalping strategy 31 replies

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

Scalping PIPs? 5 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Scalping 100 pips?! 3 replies

Attachments: C4 Scalping
Exit Attachments

C4 Scalping

  • #5,341
  • Aug 5, 2009 2:28pm Aug 5, 2009 2:28pm
i only got one trade in today ill have plenty tomoro i must have been kiding myself, the pa just wasnt their. id like to work on eu uj low spreads 2, and 3. and have fixed sl15 & tp5. -15pips today
Attached Image (click to enlarge)
Click to Enlarge Name: c44.gif Size: 46 KB
  • #5,342
  • Aug 5, 2009 2:46pm Aug 5, 2009 2:46pm
My Indy is saying that EURUSD is too high and it's time to
give up few 100 pips to perhaps upper $1.42/EUR area sooner or later,
that's what my own insider TRIX is telling me.. Lets see
if I'm right on the call or I'm wrong? Heck, that's still 50/50
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #5,343
  • Aug 5, 2009 2:59pm Aug 5, 2009 2:59pm
Quoting SkyzerFX
My Indy is saying that EURUSD is too high and it's time to
give up few 100 pips to perhaps upper $1.42/EUR area sooner or later,
that's what my own insider TRIX is telling me.. Lets see
if I'm right on the call or I'm wrong? Heck, that's still 50/50
Skyler, there is a very active thread about trading the EUR, I actually follow it fairly regularly. This thread should be focused on trading Edges system, don't ya think?
  • #5,344
  • Aug 5, 2009 3:08pm Aug 5, 2009 3:08pm
Quoting 4xtrader2
Only traded one currency pair today - 3 trades. Did not have good focus today. Missed a lot of good signals. Took one trade late with little price action and it was deadly. Gotta focus on price action.
.
Hey 4x,
I just noticed something on your chart.
Zoomed in on it below...
...It kinda looks like a 'sniffer' candle.
An idea that came to mind was possibly wait for that initial candle low to get taken out,before entering.
Attached Image (click to enlarge)
Click to Enlarge Name: cad acc 5min.2.gif Size: 18 KB
  • #5,345
  • Aug 5, 2009 3:17pm Aug 5, 2009 3:17pm
I have followed this thread for about two weeks and love the logic and everything Edge has to say about being a better trader. The 75% mental aspect of trading is definitely where my "work" needs to focus.

Speaking of mental work, the attached charts show where I see trades would have been entered over the last two days on the EJ -- green lines represent positive outcomes, pink lines represent negative outcomes.

Would someone please confirm that my charts are setup correctly and whether I have marked entry areas according to the plan? I find myself hesitating at times because of the head fakes that appear so often. Any words of wisdom? Thanks!

Attached Image (click to enlarge)
Click to Enlarge Name: 0804 eurjpy possible entries.gif Size: 56 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 0805 eurjpy possible entries.gif Size: 61 KB
  • #5,346
  • Aug 5, 2009 3:21pm Aug 5, 2009 3:21pm
Skyzer, were I you, I would calculate the maximum lots you could take based on your account size and let that puppy ride down to $1.42. Rignt now it's $1.4419, so that would be about 219 pips. Let's conservatively say you could pull 200 pips out at 100 bucks a pip since it's written in stone, so to speak, on your own "insider trix".
That way, you'd have twenty Gs, could take a vacation, and wouldn't have to spend unnecessary time on this scalping thread.
Quoting SkyzerFX
My Indy is saying that EURUSD is too high and it's time to
give up few 100 pips to perhaps upper $1.42/EUR area sooner or later,
that's what my own insider TRIX is telling me.. Lets see
if I'm right on the call or I'm wrong? Heck, that's still 50/50
  • #5,347
  • Edited 4:22pm Aug 5, 2009 3:28pm | Edited 4:22pm
Quoting paradoxical
Skyzer, were I you, I would calculate the maximum lots you could take based on your account size and let that puppy ride down to $1.42. Rignt now it's $1.4419, so that would be about 219 pips. Let's conservatively say you could pull 200 pips out at 100 bucks a pip since it's written in stone, so to speak, on your own "insider trix".
That way, you'd have twenty Gs, could take a vacation, and wouldn't have to spend unnecessary time on this scalping thread.
And if inside Trix is wrong - also no problems. Account will be blown and you can look for a "decent job"
  • #5,348
  • Aug 5, 2009 3:29pm Aug 5, 2009 3:29pm
Quoting Brapp
I have followed this thread for about two weeks and love the logic and everything Edge has to say about being a better trader. The 75% mental aspect of trading is definitely where my "work" needs to focus.

Speaking of mental work, the attached charts show where I see trades would have been entered over the last two days on the EJ -- green lines represent positive outcomes, pink lines represent negative outcomes.

Would someone please confirm that my charts are setup correctly and whether I have marked entry areas according to the plan? I find...
Chart set up looks good, but I would just be extra careful in choppy markets on counter trend trades.
Q
The Only Constant Is Change!
  • #5,349
  • Aug 5, 2009 5:02pm Aug 5, 2009 5:02pm
Quoting zznbrm
I don't know man, it that 100% accurate? Gleneagles has posted numerous profitable trades higher than those numbers (+20s). He has shown the best results I have seen and appears to have Edgetrader's full endorsement.

Wait, stop..hang on......

Yes I did post a few charts at some stage with Trix longer TF entries. It was clearly marked...Just for info...30m TF...will be deleted.....
All subsequent trades posted as per our system were in the same direction???
Right?? I deleted ALL the charts that does not meet the system rules.

There has not been any change in the method at all, it is all about shorter TF trading with small profit target with high probability trades. One of the reasons I posted a few longer TF trades was to show the traders how effective it is as an indicator across all TF, secondly, awareness of PA and general trend.

I trade most of the trades on C4 with TP10 and at times TP5 when ATR drops close to the discomfort level, also " counter trend " trades as I have mentioned in earlier posts.

If it created confusion, apologies, I have attempted to clearly mark the few examples I posted so as not to muddy the water.

You will not see any 5M trade I posted with a TP of bigger than 10.

Look at it this way, if 90% of the trades can hit +10 then 90% +++ can hit +5.

No more screenshots of 30M trades, we need to keep our eye on the ball.

" Never let the past hold the future to ransom "
  • #5,350
  • Aug 5, 2009 5:08pm Aug 5, 2009 5:08pm
Another day with positive results trading C4, though nothing spectacular as I currently only trade a couple hours during LND open and PA today didnt provide much help... +16 pips total

E/U: +10
G/U: +10, -20, +16

And to answer some questions I got about my trades:

I dont wait for a bar close to enter a trade, I always look to find an opportunity to enter at a better price, as PA dictates. Remember that Price will retrace more often than not (I believe Edge has already pointed this out in an earlier post) and it's fine with me if i miss the explosive moves rather than enter at (or near) their absolute top or bottom before my SL is hit. A good trading opportunity is just around the corner even if that means waiting for the next day to trade again.

Indicators are only used as a guide and I may enter a C4 trade even before an arrow appears if PA is strong enough in the desired direction. I also try to trade with the longer term trend but this is not easy since periods of consolidation can easily mask it. Initial stop loss is set at -30 pips but if price moves strongly against the position I will limit the damage and exit earlier.

Finally, no Nitro trades from my part yet, will try to stay disciplined and trade C4 for some more time until I feel comfortable enough to move to the next level.

Regards to all contributors and many thanks to Edge for his continued advice and presence in the forum!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5aug-eu.gif Size: 23 KB
Click to Enlarge Name: 5aug-gu.gif Size: 24 KB
  • #5,351
  • Edited 6:01pm Aug 5, 2009 5:49pm | Edited 6:01pm
I dont wait for a bar close to enter a trade, I always look to find an opportunity to enter at a better price, as PA dictates. Remember that Price will retrace more often than not (I believe Edge has already pointed this out in an earlier post) and it's fine with me if i miss the explosive moves rather than enter at (or near) their absolute top or bottom before my SL is hit. A good trading opportunity is just around the corner even if that means waiting for the next day to trade again.

Indicators are only used as a guide and I may enter a C4 trade even before an arrow appears if PA is strong enough in the desired direction.

How do you judge the price action and on what basis do you decide "yes" or " no" ?
If you use indicators as a guide only and you have another set of trade criteria, why not take them of.

 I also try to trade with the longer term trend but this is not easy since periods of consolidation can easily mask it.
Consolidation=false signals
Initial stop loss is set at -30 pips but if price moves strongly against the position I will limit the damage and exit earlier.

Finally, no Nitro trades from my part yet, will try to stay disciplined and trade C4 for some more time until I feel comfortable enough to move to the next level.

Regards to all contributors and many thanks to Edge for his continued advice and presence in the forum![/quote]

My comments are NOT intended as negative remarks. If you want to trade outside of the system, it is your decision after all.
Your intention to stay disciplined is GREAT! Ask yourself the question, I am trading on confirmation or speculation? You will win trades both ways, the only difference is you will run out of luck on the speculation part.
If you are confident after plenty trades that it works better to jump the gun based on " speculation" by all means.
Once you have traded at a level where you have an instinctive feel for price action...go for it.
In the mean time, stick with the rules and guidelines, if that does not work for you at least you can pinpoint exactly why you are winning or losing.

Good luck with the trading!
" Never let the past hold the future to ransom "
  • #5,352
  • Aug 5, 2009 5:58pm Aug 5, 2009 5:58pm
Hey guys!

Am I trading C4 right? I am using all the right settings posted in the first thread. I exit when the hma changes color on the close of the candle, or when +5 pips is it. I have only had 2 wins and 7 losses the last 2 days, however, I accidentally didn't exit the trade when the HMA changed color, so one of those wins would have been a loss as well. So really 1 win, 8 losses.


Anyways, following the EXACT rules posted in post #1 of this thread, with the correct settings, gave me the following results

Any advice?
Attached Image (click to enlarge)
Click to Enlarge Name: 2.PNG Size: 17 KB
Attached Image
-2 SCOOPS OF PROFITABLE RAISINS
  • #5,353
  • Aug 5, 2009 6:02pm Aug 5, 2009 6:02pm
Would any experienced coders be able to write (or help me write) an indicator which shows the length of time it took for each renko brick to be formed (i.e. time between close of brick and close of previous brick). I've tried but can't work out how. If you think you could help PM me so we don't clutter the thread with non trading stuff.
Matthew
  • #5,354
  • Aug 5, 2009 6:08pm Aug 5, 2009 6:08pm
Quoting scoops
Hey guys!

Am I trading C4 right? I am using all the right settings posted in the first thread. I exit when the hma changes color on the close of the candle, or when +5 pips is it. I have only had 2 wins and 7 losses the last 2 days, however, I accidentally didn't exit the trade when the HMA changed color, so one of those wins would have been a loss as well. So really 1 win, 8 losses.


Anyways, following the EXACT rules posted in post #1 of this thread, with the correct settings, gave me the following results

Any advice?
Post a chart of EURUSD and mark ALL your trades on the chart.
Blue line long, red line short.
Look back at an earlier post about ATR and market activity relating to EURUSD, compare your trades to market activity.
Maybe the other traders can comment/discuss/assist??
" Never let the past hold the future to ransom "
  • #5,355
  • Aug 5, 2009 6:10pm Aug 5, 2009 6:10pm
If you use time in relation of price you better use the C4 system with a x pips grid, Renko bricks don't offer that option.

The grid indicator was posted before

Quoting parky87
Would any experienced coders be able to write (or help me write) an indicator which shows the length of time it took for each renko brick to be formed (i.e. time between close of brick and close of previous brick). I've tried but can't work out how. If you think you could help PM me so we don't clutter the thread with non trading stuff.
Matthew
  • #5,356
  • Aug 5, 2009 6:49pm Aug 5, 2009 6:49pm
Edge, could you suggest a good initial stop/point at which to bail out of a Nitro trade? If this has been answered before, forgive me - this thread grows at such an astounding rate that it's hard to keep up.

I understand that stops cannot be set mechanically and trades running against us can't be abandoned by a formula, but some very general guidelines would really help me...

Thank you
Old Benjamin was right
  • #5,357
  • Aug 5, 2009 6:53pm Aug 5, 2009 6:53pm
Quoting Lou G
Edge, could you suggest a good initial stop/point at which to bail out of a Nitro trade? If this has been answered before, forgive me - this thread grows at such an astounding rate that it's hard to keep up.

I understand that stops cannot be set mechanically and trades running against us can't be abandoned by a formula, but some very general guidelines would really help me...

Thank you
Break of HMA should be OK. Depending on pair traded, 20-30 pips or a signal in opposite direction.

Regards.
  • #5,358
  • Aug 5, 2009 7:00pm Aug 5, 2009 7:00pm
Quoting Gleneagles
Wait, stop..hang on......

Yes I did post a few charts at some stage with Trix longer TF entries. It was clearly marked...Just for info...30m TF...will be deleted.....
All subsequent trades posted as per our system were in the same direction???
Right?? I deleted ALL the charts that does not meet the system rules.

There has not been any change in the method at all, it is all about shorter TF trading with small profit target with high probability trades. One of the reasons I posted a few longer TF trades was to show the traders how effective it...
Not a problem.

You will not be allowed to be used as a scapegoat to fuel any thread visitors or followers wish to trade for higher pip counts. The can either trade the plan as designed or they cannot.

Regards and post what you feel warranted. It seems that if many would have read everything mentioned on your chart shot postings they should have figured out what you were doing.
  • #5,359
  • Aug 5, 2009 7:18pm Aug 5, 2009 7:18pm
Quoting zeno
Another day with positive results trading C4, though nothing spectacular as I currently only trade a couple hours during LND open and PA today didnt provide much help... +16 pips total

E/U: +10
G/U: +10, -20, +16

.....
Indicators are only used as a guide and I may enter a C4 trade even before an arrow appears if PA is strong enough in the desired direction. I also try to trade with the longer term trend but this is not easy since periods of consolidation can easily mask it. Initial stop loss is set at -30 pips but if price moves strongly against...

Hi Zeno,

perhaps you look at my post

http://www.forexfactory.com/showpost.php?p=2931669&postcount=5253

and Swingman's answer

http://www.forexfactory.com/showpost.php?p=2932630&postcount=310

maybe this cold be a posibility to avoid a few losses. Just a suggestion.

Regards and many pips.
If there are pips you can collect - just do it!
  • #5,360
  • Edited 7:37pm Aug 5, 2009 7:24pm | Edited 7:37pm
Hi guys

just updated the Info Indicator.
Changed the text for the ATR... maybe more comprehensive now

And added Momentum.

Have fun...

Uli
Attached File(s)
File Type: ex4 DXTrade Info v6.ex4   10 KB | 710 downloads
"The only successful substitute for brains is silence."
1 trader viewing now