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C4 Scalping

  • #5,501
  • Aug 6, 2009 11:42am Aug 6, 2009 11:42am
Quoting FrankenPip
Hi Edgetrader:

How many trades would you suggest one make before they quit for the session? A better question may be what would you consider to be over trading?
Page 1 has my goals. +2%/-4% of daily beginning account balance is ALL I trade with from a levels perspective. Size lots according to account balance.

Regards.
  • #5,502
  • Aug 6, 2009 11:44am Aug 6, 2009 11:44am
Quoting Edgetrader
Keep working at isolating proper setups. Is not overly difficult to reach proper trading goals for this method.

Already hit such earlier as was posted. Came back later than I usually would and setups are still good enough to work with.

I realize I am much more proficient than others at this stage, but is that really a surprise? Nope. Many are taking the same trades I see and hitting goals. It is not overly complicated trading at all. Just need to have decent recognition of the setup, push the plunger, get a few pips if PA allows and leave. Not...

Edge,

How to overcome fear.... the moment you want to pull the trigger, fear always comes...... fears of losing etc...

Appreciate your help on this....


Cheers !
  • #5,503
  • Aug 6, 2009 11:47am Aug 6, 2009 11:47am
Quoting Edgetrader
....est served with the yen crosses. We will address EU at a later date.

Regards.
i thought you meant we were not supposed to trade EU now.
dreams do come true.
  • #5,504
  • Aug 6, 2009 11:56am Aug 6, 2009 11:56am
Quoting scoops
Excuse me sir...


Are you talking about peaks and valleys, s/r, higher highs, and lower lows, and placing stops to accordingly?
Yes all those things in mind. I place an emergency stop, but usually am out way before that would get hit. There is no substitute for screen time and getting a feel for the flow of PA. Trade on a demo an analyze wins and losses. With this system it's pretty obvious what your mistakes are once you have made them.
Q
The Only Constant Is Change!
  • #5,505
  • Aug 6, 2009 12:03pm Aug 6, 2009 12:03pm
Quoting Syahmi
Edge,

How to overcome fear.... the moment you want to pull the trigger, fear always comes...... fears of losing etc...

Appreciate your help on this....


Cheers !
If I could answer that definitively I would. Sadly, I cannot.

This is why trading (imho) is a 25% mech. / 75% mental application. Nothing diminishes fear other than repetitive trading of the same methodology over and over again. It is imperative to become 'married' to your preferred trading strategy and develop an unwavering 'faith' in such. This has been mentioned a few times previously.

Until one can find some measure of acceptance and belief in this 'bond', there will exist skepticism, worry, lack of focus, fear and indecision. In short, you will have a problem.

There is a book on page 1 that is a good read on trading this type of methodology. Many of the chapters are somewhat wordy, however, many are very attuned to this type of trading. It is my own trading bible and has been so for many years.

Regards.
  • #5,506
  • Aug 6, 2009 12:08pm Aug 6, 2009 12:08pm
[quote=wannaberich;2935880]i thought you meant we were not supposed to trade EU now.
[/quote

You are confusing C4 and Nitro. The pairs to be traded are different. Trade only the pairs that each plan recommends.

Regards.
  • #5,507
  • Aug 6, 2009 12:09pm Aug 6, 2009 12:09pm
Quoting david4u
Someone wrote today about the Renko bricks repaint ...
Take a look at the 2 charts .Both from my PC , same account different time .
Renko bricks look completely different and the HMA as well .
I guess it's a Renko isuue ...
anything that we are supposed to know , to do ?
Tks
David

If the Renk brinks change so will everything else because they are getting the data their off of the renko bricks.

Another note, another down day for me, I see nothing wrong with the trade I made (no chart unfortunately) but it still wen't against me, ah well another day another -4%. The winners will come once I am able to get more screen time with this method, Rome wasn't built in a day.
  • #5,508
  • Aug 6, 2009 12:16pm Aug 6, 2009 12:16pm
Edge if possible could you also post some C4 charts and more thoughts directed towards C4. There are still many who trade C4 and are making money with it. Yes Nitro is a great set up. But until you fill in the blanks and I feel more secure with the renko...which I don't know if I'm going to get more comfortable with. it's hard to teach a old dog new tricks and after trading candle stick PA for so long, It's what comes natural to me and feels good. Plus I'm making money with C4 and it feels right to me. Thanks Edge
  • #5,509
  • Aug 6, 2009 12:19pm Aug 6, 2009 12:19pm
Quoting Econ
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
It is difficult enough operating one thread, much less two.

As the front page states, C4 is covered quite thoroughly up to page $155. After that, Nitro is provided some commentary upon.

Read about the plan you want to trade and ask your questions as you see fit. Either plan has a simple set of indi's and VERY specific trading goals. You are also provided dozens of chart shots as reference material. I do not think you have any questions that have not already been answered but, as mentioned, as as you will.

Regards.
  • #5,510
  • Aug 6, 2009 12:33pm Aug 6, 2009 12:33pm
This stuff is being given free of charge. To ask Edge to start a second thread so it's more convenient for you I believe is unwarranted. Doing a thread takes time that he could be doing other things. I like the fact that both are discussed on one thread. Gives people a choice. I'm not too sure what more Edge could really say, as the systems are laid out on the first page, and discussed at length in the subsequent pages.
Far as I'm concerned, some people here are getting a college forex education at no cost to them and asking the teacher to go over and over stuff until they understand it, and then dictating what subjects he should cover.
  • #5,511
  • Aug 6, 2009 12:41pm Aug 6, 2009 12:41pm
Understand the FEAR people are talking about.

I think that is the moral of this story is it not? Edge has been telling us practice, practice, practice.....trade the signal until it comes second nature and then react to what is on the screen, enter the trade or dont. Surely when we are at this point there will be no fear? Just acceptance that it is going to be a winning trade and if its not, well it was just one of those things and the next one will be a winner.

Once i am at that stage i am hoping the 'fear' will be a distant memory and something I will be telling all the newbies about.

As far at the SL and trading goes. The attached shows 3 trades, 2 on the EUR and 1 on the AUD. The EUR set up, MA cross then colour change with the Trix. Opened the trade and it dropped, -21 i think. The MA had gone back to red and i had a hard SL of 25 (which is what i put on everything). As the EUR closely matched the AUD and this had not dropped that bad i kept in it.

Price came back up again, closed the first for +5 and gave a new signal, cross of MA, Colour change with Trix confirmation so took a second shot, another +5. The AUD followed suit for +5 as well.

It all took place over an hour but AT LAST was confident to leave it, the signal was there and i trusted it. If i lost, well so what.....but i didn't.

Thanks Edge, would have spent the last hour feeling sick worried i was going to get stopped out....but had faith.
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  • #5,512
  • Aug 6, 2009 12:43pm Aug 6, 2009 12:43pm
I've decided for various reasons to stop trading the renko bars/nitro plan. Maybe once I am on TradeStation or a platform that gets more accurate feed, I will try again, but today was just whipsaw in renko while the C4 signals were clear as usual.

Next week will do C4 only and see how that goes.
******************* I'd rather make money than be right.
  • #5,513
  • Aug 6, 2009 12:44pm Aug 6, 2009 12:44pm
Quoting f4mnect
Edge if possible could you also post some C4 charts and more thoughts directed towards C4. There are still many who trade C4 and are making money with it. Yes Nitro is a great set up. But until you fill in the blanks and I feel more secure with the renko...which I don't know if I'm going to get more comfortable with. it's hard to teach a old dog new tricks and after trading candle stick PA for so long, It's what comes natural to me and feels good. Plus I'm making money with C4 and it feels right to me. Thanks Edge
I will try, however, my own trading is Nitro as it is extremely easy as compared to C4. Either way, it is primer, detonator, plunger and gone.

As mentioned though, I will try to do some trading with both after I finish my morning trading.

Regards.
  • #5,514
  • Aug 6, 2009 12:50pm Aug 6, 2009 12:50pm
Quoting Edgetrader
Page 1 has my goals. +2%/-4% of daily beginning account balance is ALL I trade with from a levels perspective. Size lots according to account balance.

Regards.

Quote
As the plan is based on a high hit rate operation, you should seek only enough trades to allow you to reach +2/-4% to account balance daily. My personal preference is to trade multiple lots and garnish a modest amount of pips, usually around 20-25 or so daily. I do everything possible to identify high probability trading setups and diminish market exposure.


Hi Edgetrader:

I did not see where you say how much you risk (in percent) per trade. Could you state your risk % and stop loss? Is that too personal to disclose?
If you only trade long, then you can't always be wrong.
  • #5,515
  • Aug 6, 2009 12:53pm Aug 6, 2009 12:53pm
Trading in pennies, today I went 12 and 3. Two of the losses came on trades after 16:00 hours, and the other loss was against the chart as I thought I saw something I didn't. Following the rules, would have been 12 and 0. I guess you could say I'm catching on. One of the trades based off the renko chart. All of them for 5 pips only, and some just barely made the 5 pips before going the other way. After I make 5 pips, I could care less if it rockets the other way, which reminds me that we will kick ourselves when a trade keeps going "our way" after we traded out, but forget the times we cashed out and it reversed.
  • #5,516
  • Aug 6, 2009 12:54pm Aug 6, 2009 12:54pm
Quoting Edgetrader
Set the charts up side by side and save the layout as a template. That will cure one of your issues.

Then just reattach the scripts as you mention and all will be good.

Regards.
Thanks for confirming the reattaching of the scripts,I have been trying to save the layout for a hour or so now but still no luck,I know how to save a template but it doesnt remember the size of the charts window.

Sorry for the trouble but if anybody could tell me how to save the layout as a template that would be wonderful.

Thanks in advance,

Jeroen
  • #5,517
  • Aug 6, 2009 12:55pm Aug 6, 2009 12:55pm
Edge,

First, I had previous posts with questions on Nitro on TradeStation platform. Note that I am going back to trade C4. Need to take baby steps.

Based upon comments by Gleneagles, and by you, the setup is the first criteria, but the trader will have to use experience/discretion to decide whether or not to take the trade. This is my base assumption. Is this correct?

Furthermore, you suggest that the novice take all of the setups to gain experience (win or lose). Thus the suggestion to trade only demo.

So, can I assume that for the moment I should forget about the +2%/-4% goals and just trade every setup for the entire recommended trading times? I assume that you are suggesting this so that we can start to train the mind (perhaps subconsciously) to screen out the bad trades?

Please confirm.
  • #5,518
  • Aug 6, 2009 12:56pm Aug 6, 2009 12:56pm
Skyzer, perhaps you don't know, but Indrek already has a thread discussing longer time frame trading, and it seems you'd be better suited there. I don't have the link available at this moment, but it's easy to find.
Quoting SkyzerFX
Could anyone open thread when we can discuss different approaches? Anything what's working..
What so special about C4?
I stop using it today and so far made over 100 pips, not even trading
anything.. Maybe Indrek, open one? Let's talk...
  • #5,519
  • Aug 6, 2009 1:08pm Aug 6, 2009 1:08pm
Short at 1.67674, closed 16 minutes later for a pay day @ (by the rules)
More could have been had but we follow the rules..

Thanks again
  • #5,520
  • Aug 6, 2009 1:13pm Aug 6, 2009 1:13pm
Another example. Have just had 2 more +5 AUD/JPY and EUR/JPY

As you can see from the chart they both dropped back to about -20 before making the +5. Not always like this, usually trades are over and done quickly but 45 mins later is just as good as 4.

THe USD/JPY ... Currently -22...... Cross of MA, change of MA colour and Trix.... good signal, will see what happens.
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