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Attachments: C4 Scalping
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C4 Scalping

  • #6,241
  • Edited 12:25am Aug 12, 2009 12:23am | Edited 12:25am
This was a bit cheeky, but it was all over in a minute...

Please excuse the Guppies... they didn't come into play... just happened to be on the chart.
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How do you make a small fortune in Forex? Start with a large one!
  • #6,242
  • Aug 12, 2009 1:11am Aug 12, 2009 1:11am
+5 C4 working good.
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  • #6,243
  • Edited 2:45am Aug 12, 2009 1:16am | Edited 2:45am
Quoting cjd
+5 C4 working good.
Wow! That is pretty!

Thermal Imaging is a great indicator!

That reminds me... Where did I put my Electrocardiograph?
How do you make a small fortune in Forex? Start with a large one!
  • #6,244
  • Aug 12, 2009 1:33am Aug 12, 2009 1:33am
I agree - that is VERY colourful. But why did you enter when you did? Thanks.
  • #6,245
  • Aug 12, 2009 1:43am Aug 12, 2009 1:43am
Late according to the indies, so wouldn't have entered but then saw all pairs price moving down, so after a final check of the indies, got in. Also know from watching price that 7am London time is a good time to trade.

Thanks to this week's postings from Edge, and others re watching PA, on all pairs.

If this was later in the London trading time I would not enter so late after the detonator signal.

I'd be interesting in any feedback. Did I do this right or am I fooling myself with the late entries and subsequent wins?

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  • #6,246
  • Aug 12, 2009 2:09am Aug 12, 2009 2:09am
I don't see anything wrong with it, you were watching PA and that is what it boils down to in the end.
  • #6,247
  • Edited 2:29am Aug 12, 2009 2:17am | Edited 2:29am
I was sick off hearing all that Renko Shmenko stuff “repainting” , “looks different than Yesterday “ and blablabla..
Here my study on 4 Renko starting at different bar counts all at 10pip spaced.
· M2 chart- bar count 5000- kept running overnight first Bar created on the 6th Aug 10:18
· M7 chart-bar count 5000 -first bar created on the 6thAug 10:18 GMT
· M21 chart- bar count 7777-first bar created on the 8th Aug 11:24 GMT
· M31 chart- bar count 3333-first bar created on the 7th Aug 14:55 GMT

The second chart has the colored time window boxes for M2(white) ,M21(red) and M5 C4(blue) from 11th Aug 15:12 -15:59 with Entries and exit points for M2 Nitro , M21 Nitro and M5 C4.
Every chart no matter where it starts from is tradeable just as it presents itself. Difference is the time window or cycle you are trading in but you are trading in the same direction. The entry on M21 Chart was the same as on M2 except it presented itself 23 min later or 9min on M31. You can get additional trade opportunities originating from a consolidating area e.g M31 chart or you get stopped out or almost stopped out as in the case of the M2 Chart entry.
I took the C4 into the same Time window I found that the time exposed to the market to make 5pips was really short. Maybe with C4 you have your fingers more on the pulse but you are dealing with more noise.
As with Nitro I find it is easier to get entries around the clock and with less noise but has possible longer market exposure and is going often in the opposite direction before the +5 are banked .
Avoid trading to close to news releases ]or as for C4 outside the given trading times and make sure there is enough momentum to carry you 5 pips net.
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  • #6,248
  • Aug 12, 2009 2:20am Aug 12, 2009 2:20am
I've decided not to post any more of my trades as it detracts from Edge's system of taking +5 each trade, which I don't like doing if I can get more from it. To me, it feels far more dangerous to come out of a trade at +5 when it could go for more and then having to go into fresh new trades to make the pips, especially with a 20 pip SL. If 20 pips was all I needed in a day that would be a very good system to follow, but I need a lot of pips in a day for a short period of time and it would take 50 trades a day doing it this way, so out of respect for Edge I will depart here.
  • #6,249
  • Aug 12, 2009 2:41am Aug 12, 2009 2:41am
Quoting Edgetrader
Who knows what is viable any more? Hundreds of trades posted have not helped as we still get questions on these issues. Looking for that elusive 1:1 risk/reward thing in scalping the lower TF or Renko is not going to happen. Only solution is to swing trade a plan and hope. There, you will have a 55-60% win loss ratio but around a 5.5 profit expectancy. Losing game there too as most will not be able to withstand the drawdown when real money is on the line. Same old thing.

When all is said and done, a trader can either go get 2% consistently,...
I think people need to keep in mind that what is presented here in this thread isn't the gospel (aka a mechanical system), but rather a lens for seeing opportunities in the markets. Nobody but Edge can replicate Edge's results because much of that comes from experience, intelligence and analysis that is unique to one person.

But what I take from this thread is to utilize a high probability setup, bank trades for a small but certain # of pips, and exit out of harms way when things go awry.

When I have a really good high probability setup I can hit about 80%. Sometimes more, sometimes less. But consistently doing better than that has proven elusive for me. As Clint Eastwood said, "A man's gotta know his limitations." That means for me I'm at breakeven with the given system. So I have 3 choices, I can either (A) improve my win% by improving my price action analysis, (B) shoot for bigger wins on average, or (C) take smaller average losses. Those are the things that I can control.

What I've done is take a high probability setup, found a way to stretch out my wins a bit giving me a little better than 5 pip avg profit, and cut my losses way down so I'm about 1:2 win:loss ratio instead of taking a 20 pip stoploss with the 1:4 ratio of Nitro. And so for me the math works out given the Nitro template and my own custom recipe. I think this is what Edge means when he says "think real hard" and when he talks about earning it ourselves.
  • #6,250
  • Aug 12, 2009 3:32am Aug 12, 2009 3:32am
Guys,

just an FYI.:

85% success with TP: 5
95-97% success with TP: 2,5

the less is more.

Regards,

GrZack
  • #6,251
  • Aug 12, 2009 4:04am Aug 12, 2009 4:04am
Was looking online for a Short setup .GY was the only pair making nice retracements.At the opening of brick 2 not all 3 ind were pointing down...HMA was also changing colour .
Only at brick 3 I could enter as 3 indi agree .
Make +5 BUT may be I entered late and was not supposed to enter (?) .
If at the moment that the 1st brick after the arrow opens all the conditions do not meet ...Am I supposed to pass this entry and wait for the next arrow OR do I have some flexibility as in this case ?
Tks David
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  • #6,252
  • Aug 12, 2009 4:04am Aug 12, 2009 4:04am
Quoting DXTrade
You like little bombs?
Here they are.
That's why man invented the wheel... always looking for improvements

Indicator now taking less space, I removed the comment on the top left and made it more visual...
Hi DXTrade,

I am using your indicator. I think (imho) that the value of the period input of your indicator seems to be the value of TRIX period minus 1 (example: the value "2" in your indicator sets the color of the bomb in sync with TRIX(3)).

I don't want you neither to post a new indicator nor to change your source code. Just in case I were right, you could in future versions (v999999 maybe ) sync the value of your indi with the TRIX indi.

Highest Regards.
  • #6,253
  • Aug 12, 2009 4:07am Aug 12, 2009 4:07am
First day trying out the Asian/London session

Four wins (+5) each) +20

One loss -17
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  • #6,254
  • Aug 12, 2009 4:07am Aug 12, 2009 4:07am
Quoting david4u
Was looking online for a Short setup .GY was the only pair making nice retracements.At the opening of brick 2 not all 3 ind were pointing down...HMA was also changing colour .
Only at brick 3 I could enter as 3 indi agree .
Make +5 BUT may be I entered late and was not supposed to enter (?) .
If at the moment that the 1st brick after the arrow opens all the conditions do not meet ...Am I supposed to pass this entry and wait for the next arrow OR do I have some flexibility as in this case ?
Tks David
Too many risk in entering on the 3rd brick...

For me...the conditions must be met whene there is the price reversal...if not...the trade is dangerous..
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,255
  • Aug 12, 2009 4:09am Aug 12, 2009 4:09am
Quoting 4xStar
Queste regole mi piacciono
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,256
  • Aug 12, 2009 4:14am Aug 12, 2009 4:14am
Anyone else wake up .5 too late to catch these huge moves!

arrrrrggghhhhh.
  • #6,257
  • Aug 12, 2009 4:16am Aug 12, 2009 4:16am
Hi all,
not so bad for the first time, but.... I think, I have to work hard on it to make it happen every Day ! Edge, thanks a lot for presenting this nice Setup

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  • #6,258
  • Aug 12, 2009 4:47am Aug 12, 2009 4:47am
Quoting pilotui
Anyone else wake up .5 too late to catch these huge moves!

arrrrrggghhhhh.
I cought +30 only on GJ today
as my target is +20, I'm done for today.
Next step: just watching the PA & start it from the very beginning tomorrow morning.

Take care,

GrZack
  • #6,259
  • Aug 12, 2009 4:52am Aug 12, 2009 4:52am
Quoting GrZack
Guys,

just an FYI.:

85% success with TP: 5
95-97% success with TP: 2,5

the less is more.

Regards,

GrZack
Is that a 2.5 TP or 2 TP 5 Stop? Thx
  • #6,260
  • Aug 12, 2009 4:53am Aug 12, 2009 4:53am
I read theard but i dont undestand C4 well ...

Can someone post all indi and template....I would like to try C4....


Thanks in advance,

Cheers
"Buy on fear, sell on greed !!!
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