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C4 Scalping

  • #6,201
  • Aug 11, 2009 4:22pm Aug 11, 2009 4:22pm
Can you or someone else answer this..are you saying at the start of my trading day i don't have to reload my renko chart,i can just open my Mt platform and start to trade right away?.Thanks.
Quoting mgs1f
Place Renko file in expert folder and drag to chart like an EA and it will always auto start on reboot.
  • #6,202
  • Aug 11, 2009 4:28pm Aug 11, 2009 4:28pm
Quoting fxspeedster
I was simply making a comment on Renko + momentum. What I observed is that if you take the 10 pip Renko bar chart and place the momentum(4) indicator underneath, you will see that at every Renko turn the M(4) also crosses. If you take another M5 chart with regular candles M(4) is very discriminative there. So I will use the C4 regular bars from now.
I may be wrong on this one but,
just because price is invisible on renko doesn't mean it wasn't there.
We could always try fashioning a series of EMA's together exactly the same way one would find them in a 'TRIX' set, with a few momentum attributes built in.
Kinda like, if indicators could recognize 'time and sales'....
Best
  • #6,203
  • Aug 11, 2009 4:51pm Aug 11, 2009 4:51pm
Quoting paulw6182
hi all
-5
no great news from me today, i used a mixed bag of pending orders and market order, ill admit my eyes were not glued to the screen for a set period of time, even if it was a short period it might have been much more efective then opening the screen here and ther whilst not been fuly focoused on the task so i will c tommoro i will b more focused. hows my 20ma looking is it ok? a posible ting might b really cool is small indicator to show percent gain or loss for the day.
chow for now!

Once again, PaulW, please don't post charts which are irrelevant to the thread. This thread is about scalping, NOT pending orders! Please start your own journal thread if you want to tell people about your pending order trades. Only C4 and Nitro trades should be posted here.
  • #6,204
  • Aug 11, 2009 5:03pm Aug 11, 2009 5:03pm
When something doesn't work properly...we always try to fix it...is it right??

So...starting with tomorrow...i will try to fix what doesn't work for me...my mental aspect...
I see every day a lot of signals with NITRO...some signals are good...some others are not so good...or are more risky....
When i finish my trading day i always can see what was a good signal and what was a bad signal...this is what i have to fix...my mental actitude to recognize good signals in real time...

These are the rules that from tomorrow i will print and keep in front of me:

1. I don't want to spend all my day watching my pc and markets
2. This is a work, a business, not a hobby or an amusement moment, so i want to work as less as possible
3. I need ONLY 4 (not 6,10 or 20)...ONLY 4 good signals every day...and every signal can give me 5 pips...for a total of 20 pips a day
4. This plan doesn't admit errors...the signals i choose have to be the most reliable as possible
5. NITRO is a plan that is suitable 24/6 but the best session to trade remains London/Ny...the price moves fast and trends well
6. First of all...i have to take a look at the overall trend
7. If i want the most reliable signals...i have to trade only in the direction of the overall trend (if there is)
8. Don't be hurry and wait for very good signals
9. If i'm lucky and can have my 4 good signals in a very couple of minutes or so...i will stop trading and forget forex until next day..
10. I will take note of the errors...and will try to avoid them the next day

Hope this could help anybody in the thread
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,205
  • Aug 11, 2009 5:42pm Aug 11, 2009 5:42pm
Quoting Chris_B
When something doesn't work properly...we always try to fix it...is it right??

So...starting with tomorrow...i will try to fix what doesn't work for me...my mental aspect...
I see every day a lot of signals with NITRO...some signals are good...some others are not so good...or are more risky....
When i finish my trading day i always can see what was a good signal and what was a bad signal...this is what i have to fix...my mental actitude to recognize good signals in real time...

These are the rules that from tomorrow i will print and keep in...
Let's see how we do tomorrow. Some of my rules and observations are in Post #6004. (http://www.forexfactory.com/t/181900/p_2944076/c4-scalping-151.html#post2944076)
4XTrader2
  • #6,206
  • Aug 11, 2009 5:47pm Aug 11, 2009 5:47pm
Quoting johny pip
Jim,
You are right that the platform has the time but it is not used in a standard filter/indicator, the filter "assumes" that the samples are presented at regular intervals.

Consider a simple moving average of 4: MA = s1+s2+s3+s4/4 (s = price sample)

If the chart is on M5 then each 's' is 5 minutes apart. By inspection if the price moves slowly the MA will closely match, if the price moves fast, the MA will lag behind price, therefore indicating a fast moving price.

[b]If the chart is using Renko, the MA is simply the average of the 4...
Hi,
They don't on my charts - there is a big difference depending upon which are up bricks and which are down bricks.
Time is just a human invention. Take a day for example, the price when my day starts is different to that when your day starts.
Renko does have limitations, but so does any Timeframe greater than 1Hr.

Ian
  • #6,207
  • Aug 11, 2009 5:48pm Aug 11, 2009 5:48pm
How do I find post # 1306?
  • #6,208
  • Aug 11, 2009 5:52pm Aug 11, 2009 5:52pm
Quoting trade987
How do I find post # 1306?
http://www.forexfactory.com/showpost.php?p=2882907&postcount=1306
  • #6,209
  • Aug 11, 2009 5:52pm Aug 11, 2009 5:52pm
usually i try to find the next support or resistance level and define the stop imediatly after that. many times it's 20 or even 30 pips away. if we think of average 25 pips SL that means that to earn 20 pips and admiting there will be losses (and there will!!!) if we have 1 loss per day that means to finish with your 20 you need 9 x 5 pips and the tenth is the loss.

that 90% correct trades. do you think this is viable?

if we go to 15 pips average SL then we must have maximum 1 loss in every 7 trades. even so it seems to much for me.

can i have your feedback on this, Master?

(another good lesson from the enemy: i set TP at 10 pips for an AU trade. if it were 5 it would be closed already since it is 10 it is still open. 8 hours till now)
dreams do come true.
  • #6,210
  • Aug 11, 2009 5:52pm Aug 11, 2009 5:52pm
Quoting fxspeedster
You hit the nail right on the head and said it better than I did: "I'm just pointing out that it doesn't matter what indicator you use, it will not give you any more information than the Renko bricks themselves."

This is my observation as well.
Hi,
No indicator ever gives more information than price itself. (Or Price and Volume for non-FX). All the best indicators do is package that information into something that is more easily undertood/recognised, though at the penalty of introducing a delay.

Ian
  • #6,211
  • Aug 11, 2009 5:59pm Aug 11, 2009 5:59pm
thanks prosperFX
  • #6,212
  • Aug 11, 2009 6:06pm Aug 11, 2009 6:06pm
Quoting FrankenPip
Does that mean we should not talk about C4 trades anymore?
Frank ,
Take no notice, Edge was just being sarcastic. he is just saying that if some people 'know better' than to use indicators that change (= repaint in some minds) with price. And all they need is 'the probability of PA' as given by naked Renko, then let them go ahead.

It is a mystery why such superior traders ever looked at this thread, much less shared their wisdom with lesser mortals such as myself, DXTrade,Gerry Berad, or even Edge.
(Sorry, I am now being sarcastic)

Ian
  • #6,213
  • Aug 11, 2009 6:18pm Aug 11, 2009 6:18pm
Quoting johny pip
Edge,
It's just my 2 pips worth, I did not intend to change the direction of the thread. I'm just sharing what I know (or what I think I know) that's all.

Highest regards,
John.
No problem

Just giving some grief to you and FxSpeedster.

Everyone has to trade what they are comfortable with.

Regards.
  • #6,214
  • Aug 11, 2009 6:18pm Aug 11, 2009 6:18pm
Quoting SnapCracklePip
Here is the list of the settings on the indicator. It is driven by thr Trix and the Moving average. It gives an alert when lined up to hit the detonator. The "bomb" meter matches the C4 scalping. Primer, Charge and Detonator....... when all 3 light up... BOOM!
Hi SnapCacklePip,

even when other traders have yet asked - I would rather like to ask again: Would you share this "bomb"-indicator please?

Thanks.
If there are pips you can collect - just do it!
  • #6,215
  • Aug 11, 2009 6:20pm Aug 11, 2009 6:20pm
Quoting DETrader
I am going to try and be nice here, but you answered your own question. You are looking at where to change the settings.
  • #6,216
  • Aug 11, 2009 6:21pm Aug 11, 2009 6:21pm
Quoting ianf0ster
Frank ,
Take no notice, Edge was just being sarcastic. he is just saying that if some people 'know better' than to use indicators that change (= repaint in some minds) with price. And all they need is 'the probability of PA' as given by naked Renko, then let them go ahead.

It is a mystery why such superior traders ever looked at this thread, much less shared their wisdom with lesser mortals such as myself, DXTrade,Gerry Berad, or even Edge.
(Sorry, I am now being sarcastic)

Ian


  • #6,217
  • Aug 11, 2009 6:53pm Aug 11, 2009 6:53pm
Some of you have been talking about how indicators don't work on renko because time has been filtered out. I was thinking about the problem too and recently wrote an indicator to show the time taken for each renko brick to form, and then an indicator to show the true velocity for the renko bricks (distance/time). You can see the velocity indicator in the screenshot. The conclusion I came to? There is no benefit in adding time back in to the equation. Compare the crosses of the zero line on my indicator (period 4) to the standard momentum indicator (period 4). The crosses match up exactly, and do so throughout my whole renko chart history. The actual values for each bar will differ slightly, but since in Nitro we only use the crossing of the central level the standard momentum indicator is all we need. Before anyone asks, I WILL NOT post the indicator on the thread (unless Edge desires it). If you want it, PM me.
Matthew
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  • #6,218
  • Aug 11, 2009 6:53pm Aug 11, 2009 6:53pm
Hello,

What are the three MAIN indicators on the DX meter?

Step three - Make sure you have all three MAIN indicators on the DX meter showing the same color.

thanks
  • #6,219
  • Aug 11, 2009 7:20pm Aug 11, 2009 7:20pm
Quoting trade987
Hello,

What are the three MAIN indicators on the DX meter?

Step three - Make sure you have all three MAIN indicators on the DX meter showing the same color.

thanks
Trix, trix, mom.
  • #6,220
  • Aug 11, 2009 7:28pm Aug 11, 2009 7:28pm
Quoting trade987
Hello,

What are the three MAIN indicators on the DX meter?

Step three - Make sure you have all three MAIN indicators on the DX meter showing the same color.

thanks

Attached Image
If there are pips you can collect - just do it!
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