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C4 Scalping

  • #6,141
  • Aug 11, 2009 11:07am Aug 11, 2009 11:07am
Wow, it looks like a great system. This trades that you are making are in demo or in a real account??

Thanks
  • #6,142
  • Aug 11, 2009 11:16am Aug 11, 2009 11:16am
Greetings from Ireland.

Mostly shorts on 3 of the C4 pairs today. GBP/USD seemed to be doing it's own thing. Easy enough as they were trending down strongly, though had a couple of 'hairy' moments. EUR/USD went 12 pips against me, but came through. Maybe should've got out, but trend was down on M5 and M15...all RED on the DX meter with little sign of reversing.

Don't know how I'd cope with real money, mentally, so the next step is to read 'Trading in the Zone'...and practise for a few more weeks/months until I can produce similar results consistently and hopefully develop 'faith' in my ability. Then open a micro account and build from there?



Attached chart is GPB/USD loser. (Highlighted in history). Perhaps I should have waited for PA to develop and gotten in on swing high/low, which is what I've done for all the winners so far? This one was a short at what turned out to be a swing low...

...
Attached Image
  • #6,143
  • Aug 11, 2009 11:28am Aug 11, 2009 11:28am
Quoting pilotui
Check Your PM

Hi pilotui i just want you to know i had still nothing in my PM box about renko charting for now ! Thanks

Luk
  • #6,144
  • Aug 11, 2009 11:32am Aug 11, 2009 11:32am
I've had Renko charts up and running for a few days now, and realise that I have to 'reload' every morning after switching my computer off the previous night.

Was very surprised to find that I had to reload Renko, when I switched to a C4 profile.....thought that I could overcome this by having both Renko and C4 charts in the same profile. My 'normal' screen is to view the 4 Renko pairs...but a few minutes ago, I viewed one C4 pair chart (with the 4 Renko charts in the background)...and to my surprise when I minimised the C4 chart, none of the Renko charts were updating.

I hope I've explained that clearly...I feel that I either don't have the right set-up or I am doing something else wrong..or both!!

Any ideas greatly appreciated...Thanks,

Freddi
  • #6,145
  • Aug 11, 2009 11:35am Aug 11, 2009 11:35am
Quoting freddi
I've had Renko charts up and running for a few days now, and realise that I have to 'reload' every morning after switching my computer off the previous night.

Was very surprised to find that I had to reload Renko, when I switched to a C4 profile.....thought that I could overcome this by having both Renko and C4 charts in the same profile. My 'normal' screen is to view the 4 Renko pairs...but a few minutes ago, I viewed one C4 pair chart (with the 4 Renko charts in the background)...and to my surprise when I minimised the C4 chart, none of the...
Place Renko file in expert folder and drag to chart like an EA and it will always auto start on reboot.
  • #6,146
  • Aug 11, 2009 11:39am Aug 11, 2009 11:39am
Thanks for the new meter DX ! Will be switching over today.

Today's C4 trades- +6, BE, BE, +5, +5, +5, +5

I normally do not trade this close to news ( first short 11 min after ) , but PA was smooth movement and spreads normal , all 4 pairs linning up.
And the long's - OOps those are ugly.
Attached Image (click to enlarge)
Click to Enlarge Name: 8-11.gif Size: 61 KB
  • #6,147
  • Aug 11, 2009 11:43am Aug 11, 2009 11:43am
I noticed a few posts back that the author of sRenko has been notified of this problem (if platform is restarted, current data changes). I'm signed up for notification if sRenko is modified but could we all agree to post here when a fix is released?

The script should probably start from a date/time point (x days ago at 00:00 gmt) with x being a user-modifiable variable)...

Thanks to all
Old Benjamin was right
  • #6,148
  • Aug 11, 2009 11:48am Aug 11, 2009 11:48am
Edge
The market can do everything ... so let take an hypthetical scenario to learn ...
Just in case there will be a reversal , when would you start considering looking for Long setups ?
Break of L downtrend
or a shorter one - S
when the price will start to crate HL & HH ? above a
other criteria ?
Tks
David
Attached Image (click to enlarge)
Click to Enlarge Name: trend.gif Size: 55 KB
  • #6,149
  • Aug 11, 2009 11:53am Aug 11, 2009 11:53am
Quoting PipsRider
Hi pilotui i just want you to know i had still nothing in my PM box about renko charting for now ! Thanks

Luk
thats because I didnt send you anything...pplease stop pm.ing me
  • #6,150
  • Edited 12:07pm Aug 11, 2009 11:53am | Edited 12:07pm
Quoting mgs1f
Place Renko file in expert folder and drag to chart like an EA and it will always auto start on reboot.

Thanks mgs1f, but I actually have it in my "FXDD/experts/scripts" folder. Any other ideas welcome, thanks.

freddi
  • #6,151
  • Aug 11, 2009 12:03pm Aug 11, 2009 12:03pm
I know most of you using Renko do not want to hear this but there are serious drawbacks using Renko. I was one determined Renko user until 2 days ago when things just dawned on me such as:
1. Renko repaints - what you see is not what you get
2. Momentum(4) on Renko is meaningless - always agrees with Renko turns
3. HMA(8-10) is meaningless as well since it agrees with Renko

What is the better solution? Even though it might seem as a drawback I went back to a normal chart and my trading is so much improved. At least I know if I pull the trigger the same signal will be there later when I look at it.. versus the ghost signals on Renko which leaves you scratching your head and asking.. did I really do that?
If it backtests good run it live!
  • #6,152
  • Aug 11, 2009 12:05pm Aug 11, 2009 12:05pm
only got to spend a little time at charts today, 3 trades, 3 winners. ohh and live account( not that it matters, but some ask)
  • #6,153
  • Aug 11, 2009 12:12pm Aug 11, 2009 12:12pm
Quoting david4u
Edge
The market can do everything ... so let take an hypthetical scenario to learn ...
Just in case there will be a reversal , when would you start considering looking for Long setups ?
Break of L downtrend
or a shorter one - S
when the price will start to crate HL & HH ? above a
other criteria ?
Tks
David
A break of 'L' would be my preference. I look to take few trades with high quality setups and beat feet. Will seek to stack odds in my favor as much as possible.

When PA is channeled, I take everything and do the best I can.

Remember, in Nitro trading, we seek a modest amount of pips contained within one (or possibly two) bricks. PERIOD.

Regards.
  • #6,154
  • Aug 11, 2009 12:15pm Aug 11, 2009 12:15pm
Quoting fxspeedster
I know most of you using Renko do not want to hear this but there are serious drawbacks using Renko....

I came to the same conclusion and I’ve returned to the C4 setup on the first page. The only difference is that I’m using heiken ashi instead of the scalper candles. I find the HA bars to work really well to figure out price action. I just couldn’t get a feel for the scalper candles.
  • #6,155
  • Aug 11, 2009 12:23pm Aug 11, 2009 12:23pm
Quoting freddi
Thanks mgs1f, but I actually have it in my "FXDD/experts/scripts" folder. Any other ideas welcome, thanks.

freddi
don't put it in FXDD/experts/scripts, put it in FXDD/experts and run it as an expert, not as an ea. The link below is a pdf file with instructions oon how to do it.
http://www.forexfactory.com/attachment.php?attachmentid=279652&d=Jul%2028,%202009%206:45am
  • #6,156
  • Aug 11, 2009 12:26pm Aug 11, 2009 12:26pm
Attached Image (click to enlarge)
Click to Enlarge Name: frankenpipchart.gif Size: 24 KB


C4 green line trade for 5+ pips.
If you only trade long, then you can't always be wrong.
  • #6,157
  • Aug 11, 2009 12:27pm Aug 11, 2009 12:27pm
Quoting fxspeedster
I know most of you using Renko do not want to hear this but there are serious drawbacks using Renko. I was one determined Renko user until 2 days ago when things just dawned on me such as:
1. Renko repaints - what you see is not what you get
2. Momentum(4) on Renko is meaningless - always agrees with Renko turns
3. HMA(8-10) is meaningless as well since it agrees with Renko

What is the better solution? Even though it might seem as a drawback I went back to a normal chart and my trading is so much improved. At least I know if I pull the trigger...
How long exactly have you been trading 'true' Renko? Never.

Momentum does not matter? My entire trading life has revolved around momentum affecting PA. Momentum affects everything. Without being able to gage such, you lose! I don't care what plan a person trades. No momentum = no PA movement = no trading opportunities. When combined with trix, it is the ultimate confirmation to a hypothesis in the short term. Momentum is an indicator and is only used to confirm, nothing else. It should agree with Renko. When it does not, you have consolidation and should not be trading such.

Do you know what the HMA indicator is actually telling you? Nothing more that PA crossing a MA. That is all it is supposed to tell you.

Paranoia with Nitro is a recipe for disaster and I am not experiencing any of the like, even with the MT4 material.

As to best solution, you seem comfortable handling C4, why not become expert at that first?

Regards.
  • #6,158
  • Aug 11, 2009 12:33pm Aug 11, 2009 12:33pm
In the attached chart there is a signal where I have inserted the red vertical line

However there is a nice big juicy move down afterwards, that I would love to grab +5s on the way down

Are there other entries on this chart?

On the up bricks, could I have taken the down bricks?
The info meter was saying yes, momentum was down (however not coming from above)

thanks for any insight
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.png Size: 12 KB
  • #6,159
  • Aug 11, 2009 12:40pm Aug 11, 2009 12:40pm
Quoting pgpb
In the attached chart there is a signal where I have inserted the red vertical line

However there is a nice big juicy move down afterwards, that I would love to grab +5s on the way down

Are there other entries on this chart?

On the up bricks, could I have taken the down bricks?
The info meter was saying yes, momentum was down (however not coming from above)

thanks for any insight
I see ONE signal. Therefore I can expect a high probability of ONE trade.
  • #6,160
  • Aug 11, 2009 12:45pm Aug 11, 2009 12:45pm
Quoting parky87
don't put it in FXDD/experts/scripts, put it in FXDD/experts and run it as an expert, not as an ea. The link below is a pdf file with instructions oon how to do it.
http://www.forexfactory.com/attachment.php?attachmentid=279652&d=Jul%2028,%202009%206:45am
Thats what i meant, thanks for the correction. The forum rocks with great posts like yours. Have a great trading day.
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