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C4 Scalping

  • #5,981
  • Aug 10, 2009 9:51am Aug 10, 2009 9:51am
Quoting TexasTrio
If this is NOT 100% mechanical, what was the point in posting this?
No point, was just a promise to the thread followers that was kept. I promised to 'preview' Nitro and I did.
  • #5,982
  • Aug 10, 2009 9:59am Aug 10, 2009 9:59am
Quoting ap2009
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...
Other than a better spread, is there any reason to be trading the Oanda platform? +5's not to difficult with a bread and butter MT4 and associated brokerage. Why not consolidate to one brokerage?

Regards.
  • #5,983
  • Aug 10, 2009 10:04am Aug 10, 2009 10:04am
Quoting ap2009
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...
The best way to enter the Oanda orders is to have the limit order box already selected and pre-filled in so the only numbers that you need fill in is the limit order price. However, in scalping mode the quickest and surest method is to use market orders as you can have the Oanda order box sitting on top of your MT4 screen and hit the submit button when your set up come together.
  • #5,984
  • Aug 10, 2009 10:09am Aug 10, 2009 10:09am
Hi Edge,

I've been following this thread from the beginning and I think it's my time to thank you, Swing Man and others who have been contributing to this thread for all the great work you've done.
I'm still practicing but getting there. Hopefuly I'll be able to go live soon.
+30 in less than 3 hours and I'm done for today.
Regards,
Robert
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  • #5,985
  • Aug 10, 2009 10:10am Aug 10, 2009 10:10am
I'm getting the same spreads as you and in 3 years with them have never got this low spread. lets hope it holds lol

Quoting DXTrade
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?????
  • #5,986
  • Aug 10, 2009 10:11am Aug 10, 2009 10:11am
here's a +10 short on GBP/USD this morning
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  • #5,987
  • Aug 10, 2009 10:12am Aug 10, 2009 10:12am
Just hit another +10 on gbp/usd. I have stopped trading eur/jpy with C4 an moved to only eur/usd, gbp/usd and going for +10. I know it's slightly against the rules but I only take the conservative approach. The 6-1-1 trix has to be lit up in my favor to get in. Edge, correct me if I am wrong but it seems like eur/jpy is the worst performer on C4. It has been a long time since I have lost using the conservative method on gbp/usd, eur/usd.
  • #5,988
  • Aug 10, 2009 10:44am Aug 10, 2009 10:44am
Quoting rgontar
Hi Edge,

I've been following this thread from the beginning and I think it's my time to thank you, Swing Man and others who have been contributing to this thread for all the great work you've done.
I'm still practicing but getting there. Hopefuly I'll be able to go live soon.
+30 in less than 3 hours and I'm done for today.
Regards,
Robert
Excellent effort, all trades taken with 'dominant' trend.

No fighting, just taking what is offered and leaving the area. Able to derail train with momentum and pretty quickly at that.

Regards.
  • #5,989
  • Aug 10, 2009 10:50am Aug 10, 2009 10:50am
Quoting sirogreness
Just hit another +10 on gbp/usd. I have stopped trading eur/jpy with C4 an moved to only eur/usd, gbp/usd and going for +10. I know it's slightly against the rules but I only take the conservative approach. The 6-1-1 trix has to be lit up in my favor to get in. Edge, correct me if I am wrong but it seems like eur/jpy is the worst performer on C4. It has been a long time since I have lost using the conservative method on gbp/usd, eur/usd.
HMMMM?????

Surely you are not suggesting that you had to look at overall PA, focus on what you were doing, recognize what the market was offering and actually take a simplistic trading approach, think about its operation and IMPROVISE, ADAPT and OVERCOME.

The 'mechanicals' will have you up on treason charges shortly.

You have some nerve using discretion here.

REGARDS!!!!!!!
  • #5,990
  • Aug 10, 2009 10:52am Aug 10, 2009 10:52am
Quoting tptrading
Zeno,
What broker do you use? 25 pip spread on GU??? I have 1 pip this morning on GU with FXDD.
Sorry to tell you tptrading about fxdd spread but if you check again you will be desapointed because 4 pips gbp usd as usual is back now !

Luk
  • #5,991
  • Aug 10, 2009 10:56am Aug 10, 2009 10:56am
Quoting f4mnect
here's a +10 short on GBP/USD this morning

Oh come on now.

A primer, a charge and a detonator creatively used to make a trade?

What was your thought process? Did faith in your trading plan enter into your discretionary action to push the detonator? Was it that downtrend that caught your eye? Where was Jupiters orbit as opposed to the eighth trianglar moon of Neptune?

Regards.
  • #5,992
  • Aug 10, 2009 11:07am Aug 10, 2009 11:07am
Haha. The action has to be appropriate for me to enter. When the candlestick has formed an overbar before the entry we are entering homerun territory. It is the best pa indicator you can use, and since you are recognizing it on the sticks it never lags.

Quoting Edgetrader
HMMMM?????

Surely you are not suggesting that you had to look at overall PA, focus on what you were doing, recognize what the market was offering and actually take a simplistic trading approach, think about its operation and IMPROVISE, ADAPT and OVERCOME.

The 'mechanicals' will have you up on treason charges shortly.

You have some nerve using discretion here.

REGARDS!!!!!!!
  • #5,993
  • Aug 10, 2009 11:09am Aug 10, 2009 11:09am
Strike!! Thanks Edge.
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  • #5,994
  • Aug 10, 2009 11:12am Aug 10, 2009 11:12am
Edgetrader,

Just want to thank you so much for all the time you are taking to help everyone. I have struggled with trading for so long and spent most of the weekend reviewing your thread. I visually backtested the last 3 weeks and saw waaaaaay more winners than losers so thoought I've seen all I need to see - why demo? So I started on a small live account this morning and have very nice profit already. Think I'm done for the day and will wait til tomorrow now. I am not trading the system exactly as you presented it but instead have made some modifications, such as earlier entry with the crossing of the trix when it appears as though the trend/momentum is chagning and staying in longer with stronger trends. Seems to be working very nicely. I know I should be safe as long as Trix trends - right?

One problem I see is elimiating range bound situations and I think this is really where the biggest problem may lie and we need to try to elimiate this as much as possible.

Edge - early days for me but THANK YOU SO MUCH!!
  • #5,995
  • Aug 10, 2009 11:18am Aug 10, 2009 11:18am
Edge, DaveW, thanks for your suggestions.

I guess I've always preferred the 'control' that limit orders can give you, however when price action is fast and we're scalping for +5 maybe I need to pay at market to get in and get out.

I'll be playing with MT4 order entry and also market orders on Oanda this week.

Cheers
  • #5,996
  • Aug 10, 2009 11:18am Aug 10, 2009 11:18am
Quoting nick2112
Strike!! Thanks Edge.

BOOM!

Regards.
  • #5,997
  • Aug 10, 2009 11:22am Aug 10, 2009 11:22am
Quoting Trader-e
Edgetrader,

Just want to thank you so much for all the time you are taking to help everyone. I have struggled with trading for so long and spent most of the weekend reviewing your thread. I visually backtested the last 3 weeks and saw waaaaaay more winners than losers so thoought I've seen all I need to see - why demo? So I started on a small live account this morning and have very nice profit already. Think I'm done for the day and will wait til tomorrow now. I am not trading the system exactly as you presented it but instead have made some modifications,...
Trade C4 exactly at the time promoted. It will do fine.

Trix has yet to be beaten as an indicator. Is a glorified momentum indi of sorts but has been reliable for me for many years.

Without momentum of some sorts, I see no trading plan at all that can have any consistent success.

Regards.
  • #5,998
  • Aug 10, 2009 11:27am Aug 10, 2009 11:27am
Just took my 5 pips short on E/U, by the rules
  • #5,999
  • Aug 10, 2009 11:31am Aug 10, 2009 11:31am
20 pip and 5 pip.. gu trade


http://clip2net.com/clip/m15756/1249...-clip-17kb.png
  • #6,000
  • Aug 10, 2009 11:36am Aug 10, 2009 11:36am
Some of you IBFX users may want to take a look at intergrating the GBPCAD into the C4 method.

Has a 5 pip spread, but is smooth when compared to EY.

VERY GOOD CORRELATION TO GU for those who care.

Regards.
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