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C4 Scalping

  • #5,961
  • Aug 10, 2009 8:17am Aug 10, 2009 8:17am
Quoting DXTrade
Well, not sure I will continue to code.
Maybe there are other people more qualified.

One try again
...
If I'm obstructing the thread with this... just tell me, OK?
Dear DXTrade,
I'm sure I'm not the only one who VERY much appreciates your efforts and willingness to share. Thank you very much.

Cheers,
John.
  • #5,962
  • Aug 10, 2009 8:23am Aug 10, 2009 8:23am
Quoting johny pip
Dear DXTrade,
I'm sure I'm not the only one who VERY much appreciates your efforts and willingness to share. Thank you very much.

Cheers,
John.

Keep up the good work DX!

If Edge was James Bond...you're his "Q" !!
  • #5,963
  • Aug 10, 2009 8:23am Aug 10, 2009 8:23am
Quoting dwayneyboy
Naked C4 trading as per Edges tip. Highly recommend it really helped my concentration on PA and the correlation. Couple of dodgy late buys (against the trend!) followed by some nice +5's.
Glad you only posted screen shots and not photos. Wouldn't want to be emotionally scarred for life.
4XTrader2
  • #5,964
  • Aug 10, 2009 8:39am Aug 10, 2009 8:39am
A slightly hairier one but takes me to +20, Im done! Hopefully can get some consistency developing now
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  • #5,965
  • Aug 10, 2009 8:51am Aug 10, 2009 8:51am
Quoting Edgetrader
Care to proof that up or is that just more opinion?

If you folks want CRB's, then prove they are more effective. That is all that was said.
Edge,
I was not the person who suggested using CRBs. I just said I would look at them if I had time. It is my opinion that I can get Renko bricks to show all that I need, however if CRBs are better then I am willing to help out when I have the time.
As I said many pages back in response to the person who suggested CRBs:

1. I think they have possibilities - I know they are used by a great many Financial Index Traders (as are CVBs and various multi-tick charts).

2. Until I have found a Renko set-up that I like, I will be concentrating on the best C4 and Nitro settings for me.

Further, I do not have much time to look at anything else right now.
Live trading using 4 different methods (for my living).
Getting my Mother settled into a retirement home.
Following this thread and trying to help people.
Producing code changes to the purchased Renko script to make signals backtestable and reporting back to the vendor.
Still trying to find A good Renko set-up that suits me. After which I will be
busy backtesting that set-up for a week or so.

Once I have done all that, then I may look some more at CRBs.


Ian
  • #5,966
  • Aug 10, 2009 8:58am Aug 10, 2009 8:58am
Quoting cobraforex
Hi Edge, maybe it would help if you explain the readers on what depends this 75% (the 25% is as clear as water) and what they have to do to master them.

You said that they should read Trading in the zone what is a good take, but anything else maybe?
That is quite a bit more difficult to do than one might anticipate.

I have no way of knowing the exact mindset of every single thread follower. As such, I have not yet found a way to get everyone to be of 'one mind'.

The psychology of trading is something one cannot teach. As with a trading plan, you can only set forth the foundation and it then becomes the responsibility of the trader to trade often enough to develop their own level of discipline they feel sufficient to trade profitably with.

What some are asking is to disclose my thought process behind each trade. How is this beneficial? They gain nothing from that as their own thought process will be different and therefore in conflict. This becomes a zero sum game at that point. There will always be those who ask WHY?

I knew in the beginning that only a few would grasp this methodology firmly enough to do something with it. That is the numbers game I speak of so often. The ones who constantly seek answers as to why will have great difficulty trading on their own now or ever. Simply cannot accept a probability theorem methodology as a fact. That is neither a fault or an asset, it is simply the way they think.

The book you mention is my own trading bible. Sure, there are tons of trading books out there. However, what good does it do anyone if they cannot make a decision on how they want to trade? Having them read trading psychology books for the next six months will only send them to the psychiatric facility for treatment, and they probably will not make that decision on their own either.

Many of the folks I hear from are far better off simply taking a trading signal from some company and trading it. It removes all thought and still allows them to trade as they wish. At least they have someone to blame if things do not work out. They could also try one of those high tech robots many seem enamored with. Again, they are purchasing a built in scape goat either way and can absolve themselves of the personal trading decision making as they wish.

As in the beginning, I can only provide the tools. How they use them is their decision. Many sure are 'Thinking Real Hard About It' though. Only a few have been able to grasp the most difficult trading concept, that being 'Simplicity'.

Best Regards.
  • #5,967
  • Aug 10, 2009 9:11am Aug 10, 2009 9:11am
Quoting cactus
In between trading live I made time to trade the Nitro setup exactly as described in Post number 1. In general for each trade the "related" pairs were making similar moves even if there was not a trigger for a trade. Results were:

Attachment

Look forward to moving further past the mechanical approach. I appreciate the remarkable amount of effort Edge has put into this.
Good post.

Nice progression from mechanical to discretionary trading based upon a simple set of indicators and a very good working knowledge of reviewing the market as a whole. Very easy to get a bit more bang for the buck by utilizing the positive correlation aspects provided everyone previously.

Thanks and

Best Regards.
  • #5,968
  • Aug 10, 2009 9:15am Aug 10, 2009 9:15am
Beginning of new week and C4 trading still going strong. New setup/template even better as it really helps to keep focus on price action rather than indicators. Unfortunately broke my plan by trading outside my window. Mr market had no problem with that, he just took back most of my pips

E/U +5, +5, +5, +7
E/G +10, +5, -11
E/J -19 (order entry mistake by me, nothing to do with C4)

As time passes, one should begin to understand more of the subtleties of trading C4. Edge slowly reveals some of it like a very proficient teacher who demands that the work is done by the students. I very much hope he has the patience to stick around and provide his feedback, while ignoring those that should either not be involved in trading, or posting in another thread.

Regards
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  • #5,969
  • Aug 10, 2009 9:19am Aug 10, 2009 9:19am
Zeno,
What broker do you use? 25 pip spread on GU??? I have 1 pip this morning on GU with FXDD.

Quoting zeno
Beginning of new week and C4 trading still going strong. New setup/template even better as it really helps to keep focus on price action rather than indicators. Unfortunately broke my plan by trading outside my window. Mr market had no problem with that, he just took back most of my pips

E/U +5, +5, +5, +7
E/G +10, +5, -11
E/J -19 (order entry mistake by me, nothing to do with C4)

As time passes, one should begin to understand more of the subtleties of trading C4. Edge slowly reveals some of it like a very proficient teacher who demands that...
  • #5,970
  • Aug 10, 2009 9:20am Aug 10, 2009 9:20am
Quoting ianf0ster
Edge,
I was not the person who suggested using CRBs. I just said I would look at them if I had time. It is my opinion that I can get Renko bricks to show all that I need, however if CRBs are better then I am willing to help out when I have the time.
As I said many pages back in response to the person who suggested CRBs:

1. I think they have possibilities - I know they are used by a great many Financial Index Traders (as are CVBs and various multi-tick charts).

2. Until I have found a Renko set-up that I like, I will be concentrating...
Understand you are quite busy Ian.

Only point I wanted to make was with the flaming issue. Just wanted the poster to prove CRB merit before introduction of such. My 'flamings' are usually more inline with 'rants' than requests.

Anyway, of most concern in this response is your efforts at securing residence for your mother. Was there a few years back myself so am familiar with much of the work needing done with that responsibility.

Can only offer my very best wishes to her and futher offer up a good word in prayer for you for your efforts and continued strength.

Best Regards.
  • #5,971
  • Aug 10, 2009 9:22am Aug 10, 2009 9:22am
Quoting Edgetrader
Again, they are purchasing a built in scape goat either way and can absolve themselves of the personal trading decision making as they wish.
Now I understand why some people are so nasty and vindictive on the forums. They need a scapegoat or villain to justify their lack of success rather than look in the mirror.

Thank you very much, Edgetrader.
If you only trade long, then you can't always be wrong.
  • #5,972
  • Aug 10, 2009 9:23am Aug 10, 2009 9:23am
Quoting tptrading
Zeno,
What broker do you use? 25 pip spread on GU??? I have 1 pip this morning on GU with FXDD.
That is not 25. It is actually 2.5 but read on the meter as a whole number with fractional pip brokerages. EU looks to be at 0.9....
  • #5,973
  • Aug 10, 2009 9:25am Aug 10, 2009 9:25am
Sorry my mistake.
Quoting Edgetrader
That is not 25. It is actually 2.5 but read on the meter as a whole number with fractional pip brokerages. EU looks to be at 0.9....
  • #5,974
  • Aug 10, 2009 9:25am Aug 10, 2009 9:25am
Quoting tptrading
Zeno,
What broker do you use? 25 pip spread on GU??? I have 1 pip this morning on GU with FXDD.
This is because MT4 gets its data from a 5 digit broker, so it actually means 2.5 pips spread, which I agree is still on the high side.

I dont trade off an MT4 broker, I only use it for charting and signals.
  • #5,975
  • Aug 10, 2009 9:28am Aug 10, 2009 9:28am
Quoting Edgetrader
That is not 25. It is actually 2.5 but read on the meter as a whole number with fractional pip brokerages. EU looks to be at 0.9....
You see? LOL
Another point on the to do list... adapt the spread to 5-digit brokers...
v999999 here I come
"The only successful substitute for brains is silence."
  • #5,976
  • Aug 10, 2009 9:30am Aug 10, 2009 9:30am
Anyone knows whats going on with FXDD?
I now have 1 pip spread on EU, UJ and cable... never had this low like this before?????
"The only successful substitute for brains is silence."
  • #5,977
  • Aug 10, 2009 9:40am Aug 10, 2009 9:40am
Quoting Edgetrader
Not if they are actually following the thread. If you had reviewed the postings of the last week, it was pretty clear we were working on getting the setups down first and foremost. Nobody ever claimed it was a 100% mechanical system. And it is only the ignorant who did not bother to read that on page one.

In addition, it has been clearly stated numerous times that the plan is 25% mechanical and 75% mental. That is why you have to do the work. Only a fool believes there is a 100% mechanical plan.
If this is NOT 100% mechanical, what was the point in posting this?
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  • #5,978
  • Aug 10, 2009 9:41am Aug 10, 2009 9:41am
Hi All,
My trades for today: -7 pips overall. This is better than my last attempts and I made 1 mistake of -8.5. The other looser was entered correctly at the time but it went against me :-(

On the whole, an improvement.

Regards,
John.
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  • #5,979
  • Aug 10, 2009 9:42am Aug 10, 2009 9:42am
Instead of focusing on only the EU today, I tinkered with all 4 pairs with mixed results.

The good thing with 4 pairs is that I could choose the pair with the best price action (which was EJ) at any point in time. The bad thing was that it proved too much to focus on and to execute upcoming trades.

Interestingly the pair with the best price action (EJ)when I traded yielded the poorest performance. This was partly due to its faster moves giving me less time to place my order on another platform (Oanda). By the time I click through to the Oanda limit order window, price has already moved beyond the desired entry! I don't like the way Oanda's order entry window always comes up with the Market order window first when I want to place a Limit.

Just curious, do you guys using MT4 charts have a faster way of placing limit orders on Oanda?

Overall today....

EU +5
AU +5
GU +4
EJ -7, -15

My trades attached below.
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  • #5,980
  • Aug 10, 2009 9:44am Aug 10, 2009 9:44am
Quoting DXTrade
You see? LOL
Another point on the to do list... adapt the spread to 5-digit brokers...
v999999 here I come

Or, a TRADER has the ability to IMPROVISE, ADAPT and OVERCOME.

Regards.
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