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C4 Scalping

  • #5,781
  • Aug 8, 2009 2:19pm Aug 8, 2009 2:19pm
Can there really be an entry on brick #1 when the HMA has not changed color yet? The HMA is based upon the low price of the brick. In this case, the low is also the close. At the close of brick #1, the HMA is still green (and could never have changed color during the lifetime of brick #1).

It is very possible that an entry would have presented itself just after the close of brick #1 - during the "creation" of brick #2.

Quoting Chris_B
Not the M5 Trix...

If you watch DXInfo it has TRIX M2 (renko) and TRIX 15 and Momentum..

If you watch your chart...you have an entry short on bar marked as 1...momentum is down...so the trix M2..and trix 15 is still down...

You have an entry long on the bar marked 3...momentum is up, so the trix M2..and the trix 15 is up...

Is the trix M5 that keeps you out from these trades...but Trix M5 is not part of the nitro setup..

Hope it helps..
  • #5,782
  • Aug 8, 2009 2:37pm Aug 8, 2009 2:37pm
David,

You have to be very careful trying to backtest like this, especially with Renko bricks. Most of the "regular" indicators will not provide accurate data for previous bricks. You need to customize the indicators for these purposes.

If you only open trades after the close of a Renko brick, then the customizations are not too bad to get a reliable backtest of the mechanical part of the strategy.

If you open trades intra-brick, then the customizations are much more complicated to get reliable backtesting results.


Quoting david4u
My Detonator is DXTrade Info v8 . It shows the current information , not information from the past .
I need Trix (M5 or M2 ?) to be down .
I need Trix(M15) to be down (same setting 2,1,1,1 ?)
I need the momentum bellow 100 .
I have added Trix MTF M5 & M15 (to answer my question).
If I understand properly , no short can be taken on point 2 as Trix 15 was up . So the Short possibility on point 2 is cancelled .
[b]On point 3 no Long trade can be taken as Trix M5 is still down and only at point 4 the Long trade...
  • #5,783
  • Aug 8, 2009 2:56pm Aug 8, 2009 2:56pm
Quote
I have never known a demolition expert that would let a robot do their work. Without doing the work, how do you become an expert?

Edgetrader, i think you mis understood me, or i did not make myself clear enough. (english is not my native language).

My question is about placing the order (Open order). It looks to me that when the signals are ready to take the plunge you need to place the buy or sell order as quick as possible.
Do you press f9 in MT4 and fill in all the required fields to open an order or do you use some kind of script with predefined settings for TP and SL?

I hope i make myself clear enough?

Thanks.
  • #5,784
  • Aug 8, 2009 3:39pm Aug 8, 2009 3:39pm
Quoting Edgetrader
And another +5 set on C4.


Your 'demo' trading should entail you resetting your 'demo' platform to and account size of $10k each and every day.

You need to work on getting either 20 pips with 1 standard lot or 40 pips trading .5 lot size. This will equal a 2% net account gain.

Your losses, based upon a -4% criteria, are obviously set at -40 or -80 pips depending on the lot size you are trading at. This is consistent with page one goals.

Each time you hit either mark, go and reset the platform and do it again, and again, and again, and again...
Edge, this is a post that really makes sense to me. I am actually going back to demo trading (was trading small amounts previously) until I can do the 2% day after day after day, after day.

Your system, plus the " Trading In the Zone" book, plus your always FORCING us to keep it simple, is really changing my habits as a trader

Looking forward to Monday

PGPB
  • #5,785
  • Aug 8, 2009 5:09pm Aug 8, 2009 5:09pm
Quoting msiamd
Edgetrader, i think you mis understood me, or i did not make myself clear enough. (english is not my native language).

My question is about placing the order (Open order). It looks to me that when the signals are ready to take the plunge you need to place the buy or sell order as quick as possible.
Do you press f9 in MT4 and fill in all the required fields to open an order or do you use some kind of script with predefined settings for TP and SL?

I hope i make myself clear enough?

Thanks.
I do everything on the MT4 manually.

Regards.
  • #5,786
  • Aug 8, 2009 5:14pm Aug 8, 2009 5:14pm
Quoting pgpb
Edge, this is a post that really makes sense to me. I am actually going back to demo trading (was trading small amounts previously) until I can do the 2% day after day after day, after day.

Your system, plus the " Trading In the Zone" book, plus your always FORCING us to keep it simple, is really changing my habits as a trader

Looking forward to Monday

PGPB
Now you're talking.

Repetition until it becomes relex action.

When you go to live funding, you start small and keep do the same thing.

As you gain confidence, you increase funding until a loss makes you shutter and review the trade. If that happens, there is too much thought behnd the trade and you back it down to a level where the money issue does not surface.

In the end, when you break the 'fear' barrier, and just trade with very little emotion, that is when the big light bulb comes on and you just go to work, hit your targets (+2/-4%), call it a day and repeat.

Regards.
  • #5,787
  • Aug 8, 2009 7:15pm Aug 8, 2009 7:15pm
Sorry for the late answer... was on the beach and diving yesterday

So here it goes for the Dashboard:
The faster Trix isn't set to ANY default timeframe. It takes & shows the timeframe of the chart. Obviously if you have a M2 chart open it's showing Trix(M2) and taking the values as well from there. I don't want a M5 Trix if I'm trading from a 10 brick Renko, right?
But for those who want to do this I attached a new version v9 where you can set the timeframe of the faster Trix to your liking. Default is 0 for actual timeframe of the chart.
I still use v8 as that's what I want the dashboard to do
Attached File(s)
File Type: ex4 DXTrade Info v9.ex4   12 KB | 796 downloads
"The only successful substitute for brains is silence."
  • #5,788
  • Aug 8, 2009 7:35pm Aug 8, 2009 7:35pm
"Humans, Lehrer points out, are wired for prediction: Our ability to think ahead is such an extraordinary evolutionary advantage that when our decisions validate an apparently correct prediction, our brain's anterior cingulate cortex receives a pleasurable jolt of dopamine. It's also why we're predisposed to find patterns where there are none; we take random clusters in sports and believe they are "hot streaks," and schizophrenics and slot-machine addicts desperately seek patterns where none exists."

"Look, for example, at this elegant little experiment. A rat was put in a T-shaped maze with a few morsels of food placed on either the far right or left side of the enclosure. The placement of the food is randomly determined, but the dice is rigged: over the long run, the food was placed on the left side sixty per cent of the time. How did the rat respond? It quickly realized that the left side was more rewarding. As a result, it always went to the left, which resulted in a sixty percent success rate. The rat didn't strive for perfection. It didn't search for a Unified Theory of the T-shaped maze, or try to decipher the disorder. Instead, it accepted the inherent uncertainty of the reward and learned to settle for the best possible alternative.

The experiment was then repeated with Yale undergraduates. Unlike the rat, their swollen brains stubbornly searched for the elusive pattern that determined the placement of the reward. They made predictions and then tried to learn from their prediction errors. The problem was that there was nothing to predict: the randomness was real. Because the students refused to settle for a 60 percent success rate, they ended up with a 52 percent success rate. Although most of the students were convinced they were making progress towards identifying the underlying algorithm, they were actually being outsmarted by a rat."

- "How We Decide," Jonah Lehrer

Do not let the market "fool" you. Take your trades and practice your money management. Do not waste your time tweaking indicators unless you want to be outsmarted by a rat.

Edgetrader has an entry that gives you an "edge". What more do you need? Are those of you who offer "improvements" doing so based on risking real dollars and getting real results? What is your motivation? If it is fortune, then trade your "modified" system then you can post your results and boast.
  • #5,789
  • Aug 8, 2009 7:44pm Aug 8, 2009 7:44pm
Quoting gbppip
"Humans, Lehrer points out, are wired for prediction: Our ability to think ahead is such an extraordinary evolutionary advantage that when our decisions validate an apparently correct prediction, our brain's anterior cingulate cortex receives a pleasurable jolt of dopamine. It's also why we're predisposed to find patterns where there are none; we take random clusters in sports and believe they are "hot streaks," and schizophrenics and slot-machine addicts desperately seek patterns where none exists."...
Excellent!
"The only successful substitute for brains is silence."
  • #5,790
  • Aug 8, 2009 7:58pm Aug 8, 2009 7:58pm
Quoting DXTrade
Excellent!
DXTrade:

Keen observation on your part to single out the main reason the "market gurus" can continue to peddle their wares. They stand up and point to charts and show "patterns" in the past that made money. If you take their seminar, buy their book or use their EA, then you can make profits. So they say and so many believe. And like moths to the flame, trader after trader is sucked in only to become members of the 95% who fail club.

Whether or not they believe their own balderdash is irrelevant. Do not fall for it or the rats will beat you. No one knows if the next tick is the start of a major run or not. No formula or indicator can tell you that. You enter the trade and take your chances.

All you need is a clear understanding of what is going on if you want to succeed in the market.
  • #5,791
  • Aug 8, 2009 8:55pm Aug 8, 2009 8:55pm
thanks for sharing ,I am adding CCI set at 12 to my momentum indicator looks good especially when in extreme oversold/ bought and cross back though momentum, good for range market
  • #5,792
  • Aug 8, 2009 9:37pm Aug 8, 2009 9:37pm
Quoting DXTrade
Excellent!
Ok, I've been going over your posts, especially the one about your execution sequence. Arrow-Close-Pull-Take 5.

Got it...

But there were quite a few bad trades on Friday especially in GJ...where there was Arrow and only one brick deep.

Here's my Chart layout (copycat of yours, I hope/think)
a. DXTrade C4 Nitro- Trix= 2, Period MA=8, Period MA=12
b. LWMA= 12,3,3
c. SuperTrix PV 4 Col== 2, 1,1,1 (Signals only)
d. Mom=4 (overlaid on Trix)

So here's my thought on avoiding those one brick deep quick turns that would burn me (and others)

1. Arrow
2. Wait For Close
3. LWMA Color MUST match Arrow/Signal Brick to enter after close

So: Short Signal (Black Brick)...wait for close...LWMA is blue==> NO TRADE
Short Signal (Black Brick)...wait for close...LWMA is Black==> TRADE

attached is my chart with circled One Brick Bad Trades and a few 2/3 Brick deep signals where the PA wasn't enough to change the LWMA.

Your's and anyone else's input is appreciated.

Question I already have is...does waiting for the signal Brick to close give the LWMA enough time to change color if it was a legitimate trade?

Also, for your execution sequence...does the Signal Brick have to close UNDER/ABOVE the LWMA? Or do you wait for one more brick to confirm it's Close under/above the LWMA?
Attached Image (click to enlarge)
Click to Enlarge Name: DX-Execution Sequence Question.jpg Size: 109 KB
  • #5,793
  • Edited 11:50pm Aug 8, 2009 9:42pm | Edited 11:50pm
Quoting PipHunt88
Try CCI(6) AND CCI(14) to your Renko. Leave MOM(4) on and compare the chances to catch a nice load of pips. CCI(6) is a better trigger to my opinion.

GB
PipHunt88, we do not aim for a load of pips it may happen that the price moves so fast that we lock in a few extra . I don't think you have really grasped the concept of scalping yet.


Quoting Edgetrader

***** I will no longer entertain submissions of new indicators within the thread. If you have your own personal favorite that you see as beneficial, then by all means use such. But, unless you can submit viable trading proof that it exceeds the capabilities of those already recommended, please do not arbitrarily introduce such. Further, please do not post charts showing alternative indicators to those recommended.
PipHunt88, I think you are walking on thin Ice with your CCI's. Read post#1 just in case you have forgotten.

Maybe I should even get into it but I like to know why you changed the brick size to 5 what is your spread on the yen pairs it does not make any sense to trade from it ? The size is 10 for this thread.
  • #5,794
  • Aug 8, 2009 9:53pm Aug 8, 2009 9:53pm
Quote
Try CCI(6) AND CCI(14) to your Renko. Leave MOM(4) on and compare the chances to catch a nice load of pips. CCI(6) is a better trigger to my opinion.
you are right about cci6 on mom4 as a trigger
I originally had cci12 on a different indicator called indexed momentum against k bar delta A -(set at 2,8,8,3 ) had to cross both momentum lines.
Indy was posted by a guy called jason101 on this c4 tread
theses two momentum indys with the two cci settings look pretty good but need to play with it.
  • #5,795
  • Aug 8, 2009 10:04pm Aug 8, 2009 10:04pm
sorry edge for discussion on cci indys
I use DXtrade template and momentum indys
next time i will pm piphunter88

really like this thread and appreciate very much yours and others contribution
  • #5,796
  • Aug 8, 2009 10:07pm Aug 8, 2009 10:07pm
Quoting pilotui
Ok, I've been going over your posts, especially the one about your execution sequence....
Well, not sure what you mean.
If you have 1 brick above/below the arrow brick then you are good for +5
Additionally you don't see the PA of the brick without the wicks.
Third I will never trade GJ as with a 8 pip spread I need nearly 2 bricks to make +5... not my game!

Hope that helps!
"The only successful substitute for brains is silence."
  • #5,797
  • Aug 8, 2009 10:55pm Aug 8, 2009 10:55pm
Quoting DXTrade
Well, not sure what you mean.
If you have 1 brick above/below the arrow brick then you are good for +5
Additionally you don't see the PA of the brick without the wicks.
Third I will never trade GJ as with a 8 pip spread I need nearly 2 bricks to make +5... not my game!

Hope that helps!

I guess what I was getting at is:

Do you See the Arrow, Wait for Close and pull the trigger on every alert?

I was wondering if you waited for the LWMA to change colors before pulling the trigger.

Thanks!

Darren
  • #5,798
  • Edited Aug 9, 2009 12:13am Aug 8, 2009 11:27pm | Edited Aug 9, 2009 12:13am
Quoting pilotui
I guess what I was getting at is:

Do you See the Arrow, Wait for Close and pull the trigger on every alert?

I was wondering if you waited for the LWMA to change colors before pulling the trigger.

Thanks!

Darren
Ever read Post #1?
"The only successful substitute for brains is silence."
  • #5,799
  • Aug 8, 2009 11:55pm Aug 8, 2009 11:55pm
Quoting DXTrade
Every read Post #1?

Yes! Of course! LOL...talk about going full circle...I guess I'm just trying to paralyze myself via analysis!

By the way...why don't you use the HMA?

Any and all comments are appreciated since you have mastered not only the execution sequence but the philosophy of 5 pips and out.

Thanks

Darren
  • #5,800
  • Aug 9, 2009 12:06am Aug 9, 2009 12:06am
Quoting pilotui
Ok, I've been going over your posts, especially the one about your execution sequence....
First off if you change your LWMA to 8 3 6 or go to the HMA you could have gotten into a couple of those trades but its risky business entering counter trend after a big move and momentum still heading up, even though your MOM indi says otherwise. Why not wait for a less risky opportunity either re-entering long on a break or wait til a bigger pullback signals a turn around?
As to your entry question, I usually wait for a brick to close at least intersecting the lwma by half a brick
Q
The Only Constant Is Change!
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