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C4 Scalping

  • #5,441
  • Aug 6, 2009 8:15am Aug 6, 2009 8:15am
Quoting kostas1
I've seen what Chris describes also. Careful there.....
(I wonder if it means something for the validity of our signals)
Obviously the signals are altered in some manner...
But i think that the renko script creator can't do nothing for this...the problem is in the way MT4 passes data to the script
Market is like a puzzle, YOU have to fit the pieces!!
  • #5,442
  • Aug 6, 2009 8:31am Aug 6, 2009 8:31am
Hi all,
What you are experiencing is an inherent feature of Renko.

All the "bricks" are built on the first one. Depending on the price action when you started up you may get a red brick if the price goes down from the start or a green brick if the price moves up after the start.

I think if you reduce the brick size it will improve things but it will never be solved.

It is for this reason I'm concentrating on C4 for now.

However it does seem that lots of people are having great success with Renko. So...

Cheers,
John.
  • #5,443
  • Edited 8:54am Aug 6, 2009 8:44am | Edited 8:54am
Quoting Gleneagles
I cannot answer on behalf of other traders on the forum but I am trading this live for 8 trading days now.
With regards to full lots and real money, why would the results be different if you trade minilots rather than full lots, or even microlots?

Even if you had the discipline to trade it on a demo account and have a trading plan that you stick to in order to properly evaluate whether the system is working for you, it should show you the same results.
I have also traded this plan live but trading 0,1 lots and 1-2 lots at a time IS different and I am quite sure that the results are directly influenced by psychology. So, risking 300 dollars most probably makes anybody behaving differently than trading some pennies that you do not care about much.
  • #5,444
  • Aug 6, 2009 8:46am Aug 6, 2009 8:46am
Quoting JazzmanQ2
You r kidding right?
Q
No, I am not kidding. As Edge has said, this system is meant for full time trading and it means that you trade at least 1 full lot at a time. And if you do so, only then you discover if you are capable of trading at all (this is my sentence not Edge's ).
  • #5,445
  • Aug 6, 2009 8:48am Aug 6, 2009 8:48am
After 363 pages this has all become rather confusing. Shouldn't renko and C4 be seprate threads? It's just hard to tell which one everyone is talking about. No two charts are the same we all seem to be talking about 2 different things in the same place.

I have a number of questions regarding C4 and it's concepts but I am not sure if this is the correct place to put them
  • #5,446
  • Aug 6, 2009 8:50am Aug 6, 2009 8:50am
Quoting DETrader
why does it have to be full lots to be real money? My small account means as much to me as a $10k account would.
I am sure it does! But if you trade for living and this is your only income then your feeling is still different, isn't it. If you lose your small account now then it is just very bad but if you lose your 10k account (that is, in fact, not enough anyway for full time trading) then that is already called bankruptcy.
I do not be so pessimistic all the time, so let us trade now
  • #5,447
  • Aug 6, 2009 8:56am Aug 6, 2009 8:56am
Done and gone.

Am reviewing the overnight postings.

Some nice negativity by one who simply refused to read the thread at all and some wanting to know if anyone is making money on a 'live' account, and at 1 standard lot to boot. Incredible!

Thread is not even a month old and someone has the gall to ask if anyone is trading a plan live. While there are apparently a few who are comfortable enough to trade at small lot sizes on a live account, I seriously doubt any trader worth their salt would be trading at a standard lot level after this short period of time.

One poster has been demo trading the C4 plan for 3 whole days, during the wrong time and without sufficient trading knowledge to even check overall market movement by use of a simple indicator. Now this same poster wants to move to Nitro and give that a go. Eager beaver for sure but a failure in the making there. It will not take long.

Nice to see the thread numbers dropping a bit now. Will be able to focus a bit more on trading as opposed to explaining time and time again the same old materials.

Anyway, like I said to open this post, one and done. At least with Nitro MT4 stuff. Easy trades to make, do not need perfect entries, just follow PA and a couple of simple indicators.

Regards.
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  • #5,448
  • Aug 6, 2009 8:58am Aug 6, 2009 8:58am
Quoting Edgetrader
Break of HMA should be OK. Depending on pair traded, 20-30 pips or a signal in opposite direction.

Regards.
As I've learned from my own teaching experience, sometimes the simplest thing will "turn on the light" for the student. For me, it was your reply to my question. I don't know why but this did it for me but it worked - 2 for 2 winners this morning.

Thank you
Old Benjamin was right
  • #5,449
  • Aug 6, 2009 9:03am Aug 6, 2009 9:03am
Quoting Chris_B
Obviously the signals are altered in some manner...
But i think that the renko script creator can't do nothing for this...the problem is in the way MT4 passes data to the script
I wonder if he could set an option that lets the user decide the brick starting point. I don't see how that would be difficult to do.

My renko charts are acting strange today as well...
******************* I'd rather make money than be right.
  • #5,450
  • Aug 6, 2009 9:04am Aug 6, 2009 9:04am
Quoting Indrek
No, I am not kidding. As Edge has said, this system is meant for full time trading and it means that you trade at least 1 full lot at a time. And if you do so, only then you discover if you are capable of trading at all (this is my sentence not Edge's ).
That is true indeed, but what trader would think themselves capable and proficient after only 3+ weeks doing a few trades a day. Is ludicrous to even contemplate such.

As Arathi said, it takes three (3) weeks just to train the mind to see and understand the setups alone. Then, you need to further train yourself through a couple hundred trades or so to gain some measure of proficiency in trading the plan.

Further, you have to strictly apply the guidelines of the plan in order to ascertain the plans viability based on a traders mental makeup. All this was accomplished in just over 3 weeks time?

Regards.
  • #5,451
  • Aug 6, 2009 9:05am Aug 6, 2009 9:05am
If Renko is starting to build the bricks from ten years ago or just 6 month it doesn't matter the only different it makes IMHO is that Trader A is waiting for a setup or to push the plunger where as Trader B is already backing up with mission accomplished.

At the end if you stay consistent with your plan you have the same level of success as the other trader as it works vice versa. With that in mind one can put up a grid spaced at 10pips on any timeframe , starting from a random position and has the same success.

The way I see it is that we are just trading different market rythym after we have been offline for a while but you will find that each has its own valid setup.
  • #5,452
  • Aug 6, 2009 9:11am Aug 6, 2009 9:11am
Edge,
I have to hand it to you. I didn't really like the color scheme of your template but after experimenting with numerous color schemes, I've found that my eyes recognize changes on the charts much quicker and easier than with the traditional red/green colored candles.

Second, and again, I am beginning to have some real faith in your selection of indicators. I've taken a total of 5 trades today 3 profitable, 1 a wash, and the last I got out because it was just shy of my stop loss. Both the loss and the wash would have been winners had I "stuck it out".

I am learning and feel I have made some real break throughs this week with trading. I am still not where I want to be but I am a lot closer.

Thanks for pointing the way.
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4XTrader2
  • #5,453
  • Aug 6, 2009 9:11am Aug 6, 2009 9:11am
Quoting Pipo
If Renko is starting to build the bricks from ten years ago or just 6 month it doesn't matter the only different it makes IMHO is that Trader A is waiting for a setup or to push the plunger where as Trader B is already backing up with mission accomplished.

[font=Calibri][size=3]At the end if you stay consistent with your plan you have the same level of success as the other trader as it works vice versa. With that in mind one can put up a grid spaced at 10pips on any timeframe...
Good point. I am off line all night, every night. Boot up in the morning, reapply the script and trade what is in front of me. Seems to be much ado over nothing.

Regards.
  • #5,454
  • Aug 6, 2009 9:15am Aug 6, 2009 9:15am
Quoting Edgetrader
That is true indeed, but what trader would think themselves capable and proficient after only 3+ weeks doing a few trades a day. Is ludicrous to even contemplate such.

As Arathi said, it takes three (3) weeks just to train the mind to see and understand the setups alone. Then, you need to further train yourself through a couple hundred trades or so to gain some measure of proficiency in trading the plan.

Further, you have to strictly apply the guidelines of the plan in order to ascertain the plans viability based on a traders mental makeup....
No, possibly my message was just misunderstood. Somebody asked about results and I tried to explain that we cannot have any results to make very big conclusions as all of us are just training.
I think it is too early to dream about fortunes and it is also too early to be frustrated by losses that are normal in this stage and also in real trading.
  • #5,455
  • Aug 6, 2009 9:16am Aug 6, 2009 9:16am
Quoting 4xtrader2
Edge,
I have to hand it to you. I didn't really like the color scheme of your template but after experimenting with numerous color schemes, I've found that my eyes recognize changes on the charts much quicker and easier than with the traditional red/green colored candles.

Second, and again, I am beginning to have some real faith in your selection of indicators. I've taken a total of 5 trades today 3 profitable, 1 a wash, and the last I got out because it was just shy of my stop loss. Both the loss and the wash would have been winners had I "stuck...
There are indeed psychological issues involved with various color schemes but do not propose to dwell on them here and now.

This C4 methodology is both valid as a base trading plan (if traded as designed) and a very good trading exercise for future trading developmental disclosures to the thread. The goal is to trade as many setup (right or wrong) as you can with all of the pairs initially provided as plan candidates. We have further work to do yet.

Very good looking charts and good recognition of viable signals.

Regards.
  • #5,456
  • Aug 6, 2009 9:17am Aug 6, 2009 9:17am
Quoting Edgetrader
Good point. I am off line all night, every night. Boot up in the morning, reapply the script and trade what is in front of me. Seems to be much ado over nothing.

Regards.
Edge...so just to clarify:

When your done training...you shut down the PC...and when ready to trade again you open MT4, close out all your charts and re-load them with the renko script etc... Tic=10, Time Period=2, Max Bars=5000.

Is this correct?

You are probably right about it being no big deal, but it was a little un-nerving. Thanks for your time!

Darren
  • #5,457
  • Aug 6, 2009 9:18am Aug 6, 2009 9:18am
Quoting DaveW
My understanding is that the Renko blocks are referenced from the price when either the script or the EA is initiated. Therefore if you shut down your computer and return to it later on you have a 1 in 10 chance of starting the Renko script at the same price level as the original. If the new Renko block price starts at 32 and the old blocks started at 28 then all previous blocks will "repaint" by 4 pips.

My son and I have the problem that I am running my Renko charts on 2 comuters in Tokyo and he has his computer in London and all three have...
This is a limitation in the Renko technology, the price level stays always the same as long as your computer is turned on, thats why CRBs are a better alternativ to Renko, because they build their blocks according to the real market movements and price levels.

http://www.forexfactory.com/showpost.php?p=2788448&postcount=48
/ ... clarifying decisions ... /
  • #5,458
  • Aug 6, 2009 9:19am Aug 6, 2009 9:19am
Quoting 4xtrader2
Edge,
I have to hand it to you....
Way to stay the course my man!
  • #5,459
  • Aug 6, 2009 9:25am Aug 6, 2009 9:25am
Quoting walb99
This is a limitation in the Renko technology, the price level stays always the same as long as your computer is turned on, thats why CRBs are a better alternativ to Renko, because they build their blocks according to the real market movements and price levels.

http://www.forexfactory.com/showpost.php?p=2788448&postcount=48


CRBs...... Range Bar isn't it ???
  • #5,460
  • Aug 6, 2009 9:29am Aug 6, 2009 9:29am
Quoting pilotui
Edge...so just to clarify:

When your done training...you shut down the PC...and when ready to trade again you open MT4, close out all your charts and re-load them with the renko script etc... Tic=10, Time Period=2, Max Bars=5000.

Is this correct?

You are probably right about it being no big deal, but it was a little un-nerving. Thanks for your time!

Darren
Yes, I use max bars '50,000' though, not '5,000'.

Regards.
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