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C4 Scalping

  • #6,561
  • Aug 13, 2009 10:34am Aug 13, 2009 10:34am
Thanks again C4 team

I open all my trades when C4 Metter say buy or sell (even when all three colors are not the same).Is that the right thing to do ?
And can you tell me where do you usually put your SL ?


Best Regards

PS. I must go no now to collect another pile of pips
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"Buy on fear, sell on greed !!!
  • #6,562
  • Aug 13, 2009 10:42am Aug 13, 2009 10:42am
Quoting Petar_Serbia
Thanks again C4 team

I open all my trades when C4 Metter say buy or sell (even when all three colors are not the same).Is that the right thing to do ?
And can you tell me where do you usually put your SL ?


Best Regards

PS. I must go no now to collect another pile of pips
I do find that somewhat confusing. Can the "bombs" or message be turned off so it is less confusing?
If you only trade long, then you can't always be wrong.
  • #6,563
  • Aug 13, 2009 10:42am Aug 13, 2009 10:42am
Quoting Edgetrader
There are at least six (6) occassions since U.S. open where all pair were in sync and you could have made 20-30 pips, hit goal, reset platform and done it again.

How many did this?

How many tried?

How many are focused on other things?

Regards.
I only caught 3 of those moves and had my 3.5%. With my dismal record until now, I felt it was a good place to end the day and feel good about it.

It is true there were at least 3 more good moves available in all pairs. I guess I will drop and give you 30!. But today was the best focus day I've had.
4XTrader2
  • #6,564
  • Aug 13, 2009 10:43am Aug 13, 2009 10:43am
I know this is probably going to make some people mad, but what the heck, I'll take the risk because I think it might help some people.

Some of you really need to do some homework. The questions about when to enter a trade based upon the colors of the bombs (just one example) really expose the fact that you have no true understanding of the system.

Would you attempt to fly an airplane if you were told it had automatic pilot? I sure wouldn't.

You need to spend some time to learn how to fly the plane (trade) before you attempt to go somewhere using automatic pilot (DX's Indicators).

Do yourself a favor, get a fundamental understanding of the system and it's indicators before you attempt to trade.

Sorry if this offends anyone. Want to let you know in advance that I will not respond to any criticisms of this post. I'm just trying to help.

Doc
  • #6,565
  • Aug 13, 2009 10:45am Aug 13, 2009 10:45am
Quoting nsteve
Password = http://www.forex-book.org . You will also need software to extract a ".rar" archive file.

... but seeing as it is freely available I see no reason not to save the thread members the time by attaching the extracted PDF. Leaves you with more time to trade!

Here it is
You’ve got to be out of your mind, dude!!! Ever heard of copyrights’? I strongly advise you to remove this post immediately!!!
Didn’t have time to keep up yet, maybe somebody has already mentioned that before.
  • #6,566
  • Aug 13, 2009 10:48am Aug 13, 2009 10:48am
Quoting Edgetrader
Four correlated pairs, one (1) trade on each, daily target hit and DONE.

Very smooth PA to work with as would be expected with Nitro.

What is the malfunction?

Regards.
Thanks Edge.

Is this ultimate goal? To take trades on all 4 pairs at the same time as in the pic below when the timing is right? This made 2% in a few minutes. Is this the setup we should wait for everyday?

...

http://www.ukonlinewholesalers.com/i...x/C4130809.JPG
  • #6,567
  • Aug 13, 2009 10:52am Aug 13, 2009 10:52am
Quoting DocPMD
I know this is probably going to make some people mad, but what the heck, I'll take the risk because I think it might help some people.

Some of you really need to do some homework....
I asked a fellow trader who is also a pilot what about his pilot training does he apply to trading.

His answer:

TRUST YOUR INSTRUMENTS

If your instruments are not trustworthy, then they need to be fixed or modified.

When all 3 bombs turn green, that should be a buy, shouldn't it? Either the instrument can be trusted to give a proper entry signal or it can't. If something else needs to be looked at, then that should be incorporated into the instrument. This is not to say that I will win every time that 3 green bombs appear. But I should not see that there was a false reading by the instrument either.

Your analogy is flawed. An EA would be the automatic pilot. The DX meter is the cockpit and it appears to be malfunctioning. No offense to DXTrade but the DX Meter is a work in progress.
If you only trade long, then you can't always be wrong.
  • #6,568
  • Aug 13, 2009 10:55am Aug 13, 2009 10:55am
Quoting FrankenPip
I saw that too but decided not to say anything to Edgetrader about it since I just got a tongue lashing over my observations of being teased to staying in for more pips. Maybe Edgetrader was too slow pushing the plunger?
I do not push the plunger. I delegate that task at this stage.

I plan the missions now. Too old to go out on them anymore.

I have people to do that.

Regards.
  • #6,569
  • Aug 13, 2009 10:56am Aug 13, 2009 10:56am
Quoting Edgetrader
When starting out you take EVERY signal to gain proficiency in recognition.

Next, you take ONLY THOSE SIGNALS with a dominant trend.

As you get better, you apply discretion and some honed intuition based on the big picture PA staring you in the face.

Repetition. Do it over and over and over again.
Thank you Edge!
  • #6,570
  • Aug 13, 2009 10:58am Aug 13, 2009 10:58am
Quoting traderdoc
Hi Edgetrader,

yesterday I downloaded a description where you write that ... "Make sure that the three (3) MAIN indicator settings are showing either green (long) or red (short) in color".

Just now in the last version is the advice ... "Make sure it has a least 2 green 'bombs' for a buy and 2 red .....".
This is a extrem important statement for me!
What is correct and what is the reason for this change of opinion?

Second, in the first case of all 3 bombs are green and I enter long but just 1 or 2 ore several seconds after the trigger one...
Front page is updated as DX meter is finalized. Check it every day.

Stop being dependent on the meter. Watch the PA and let the meter confirm your hypothesis, not make it.

A signal is a signal when starting out. Trade everything shown until you can trade with some discretion. Will not happen overnight.

Regards.

Regards.
  • #6,571
  • Aug 13, 2009 11:00am Aug 13, 2009 11:00am
Sir
May be you'll agree to answer my question .
As far as I understand , when we see an arrow (Trix cross) that is something that can change with every Tick . The arrow can also disappear and only if a new brick opens we can be sure that the arrow will stay in place .For that reason I understood that we can not enter when we see an arrow and we must wait for the opening of a new one .
(An also wait for Trix M15 & Mom cross).
In your charts I see that in 3 cases you have entered on the same brick that the arrow was created and only in the case of GY you entered on the brick after the arrow .We also get an alarm from DX's indi when there is an arrow but the arrow can also disappear and not stay in place .
Can you pls clarify this issue ? I am sure that I am missing something .
Thanks
David

Quoting Edgetrader
Four correlated pairs, one (1) trade on each, daily target hit and DONE.

Very smooth PA to work with as would be expected with Nitro.

What is the malfunction?

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: Edge.jpg Size: 256 KB
  • #6,572
  • Aug 13, 2009 11:01am Aug 13, 2009 11:01am
Quoting takingthepip
Thanks Edge.

Is this ultimate goal? To take trades on all 4 pairs at the same time as in the pic below when the timing is right? This made 2% in a few minutes. Is this the setup we should wait for everyday?

...
I had the same thought as well, and in fact, posted my 4-winner screen shot earlier this morning. However, since then I have re-read post #1306 a few times, and I think I was missing Edge's guidance.

Quoting Edgetrader
this trader understands that his maximum risk to account daily is 4% to start, or (-$400.00). Trading this plan, he knows his risk is 2 consecutive losing trades on all four pairs at a SL of -20 pips.(-20 pips x $2.50 per pips x four pairs x 2 losses = $400.00).
Based upon this example, it would require 4 consecutive 4-pair wins to reach the goal of 2%. It looks like I need to reassess position sizing.

I had originally sized my positions to reach the 2% goal after a single winning trade on all 4 pairs. I see now that is likely flawed, as a single loss on all 4 pairs, at a stop loss of -20 pips would result in an 8% loss.

Reassessing....
  • #6,573
  • Aug 13, 2009 11:04am Aug 13, 2009 11:04am
Quoting FrankenPip
I asked a fellow trader who is also a pilot what about his pilot training does he apply to trading.

His answer:

TRUST YOUR INSTRUMENTS

If your instruments are not trustworthy, then they need to be fixed or modified.

When all 3 bombs turn green, that should be a buy, shouldn't it? Either the instrument can be trusted to give a proper entry signal or it can't. If something else needs to be looked at, then that should be incorporated into the instrument. This is not to say that I will win every time that 3 green bombs appear. But I should...
Comparing aviation high calibration and EXPENSIVE instrumentation to Forex MT4 lagging indicators? And a pilot depends on these? Which airline do I need to avoid?
  • #6,574
  • Aug 13, 2009 11:05am Aug 13, 2009 11:05am
This is common sense, and as such it "shouldn't" make anyone mad, but you know how it goes. Thanks for saying this.


Quoting DocPMD
I know this is probably going to make some people mad, but what the heck, I'll take the risk because I think it might help some people.

Some of you really need to do some homework....
Read the entire thread BEFORE you ask questions!
  • #6,575
  • Aug 13, 2009 11:10am Aug 13, 2009 11:10am
Quoting prosperfx
I had the same thought as well, and in fact, posted my 4-winner screen shot earlier this morning. However, since then I have re-read post #1306 a few times, and I think I was missing Edge's guidance.



Based upon this example, it would require 4 consecutive 4-pair wins to reach the goal of 2%. It looks like I need to reassess position sizing.

I had originally sized my positions to reach the 2% goal after a single winning trade on all 4 pairs. I see now that is likely flawed, as a single loss on all 4 pairs, at a stop loss of -20 pips...
Please do.

Account size $10k

1 standard lot = $10 per pip.

1 trade on four pairs for 5 pips each = $200 ($50 x 4)

$200 = 2% of $10k.

If more conservative, cut the sizing in half (50%).

If seeking a 1:1 R/R stop what you are doing as you will only be wasting time. Scalping is not a profit expectancy or R/R equation. It is a probability theorem equation.

Regards.
  • #6,576
  • Aug 13, 2009 11:11am Aug 13, 2009 11:11am
Quoting prosperfx
...I had the same thought as well, and in fact, posted my 4-winner screen shot earlier this morning. However, since then I have re-read post #1306 a few times, and I think I was missing Edge's guidance....
I'm using a 10K demo account trading 1 standard lot. I place a 25 pip stop, but I use that as an emergency stop only. I haven't had that hit yet, usually out long before that. If things go against me, I'm usually out at -10 pips give or take depending on PA.

Regards.
  • #6,577
  • Aug 13, 2009 11:13am Aug 13, 2009 11:13am
Quoting DocPMD
I know this is probably going to make some people mad, but what the heck, I'll take the risk because I think it might help some people.

Some of you really need to do some homework. The questions about when to enter a trade based upon the colors of the bombs (just one example) really expose the fact that you have no true understanding of the system.

Would you attempt to fly an airplane if you were told it had automatic pilot? I sure wouldn't.

You need to spend some time to learn how to fly the plane (trade) before you attempt to go somewhere...
In addition, you had better not get any criticism for stating the obvious to anyone with any meaningful level of cerebral capacity.

Good post.

Regards.
  • #6,578
  • Aug 13, 2009 11:23am Aug 13, 2009 11:23am
Quoting Lou G
I'm running sRenko as an EA, not as a script - could this make a difference? I dunno...
Could be my friend.. I really don't know. All I know is that after I gave it up and went to the barebone C4 concept I started making huge progress. I like to see trade "what I see is what I get" so now I trade only C4 concept based on the SM_candle indicator on M5. I attached my results for today not to brag.. but to show people on this thread that great results can be achieved with the basic barebone concept. If you like Renko, by all means continue using it.. I was just simply making a statement about its before and after renko bricks differences and I decided that for me the basic C4 is good enough. This is why the 2 versions were posted by Edge I guess.
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If it backtests good run it live!
  • #6,579
  • Aug 13, 2009 11:26am Aug 13, 2009 11:26am
Quoting Edgetrader
Please do.

Account size $10k

1 standard lot = $10 per pip.

1 trade on four pairs for 5 pips each = $200 ($50 x 4)

$200 = 2% of $10k.

If more conservative, cut the sizing in half (50%).

If seeking a 1:1 R/R stop what you are doing as you will only be wasting time. Scalping is not a profit expectancy or R/R equation. It is a probability theorem equation.

Regards.
Thanks Edge. I am personally a little more aggressive, so may stick where I am. But again, reassessing.
  • #6,580
  • Aug 13, 2009 11:33am Aug 13, 2009 11:33am
Quoting FrankenPip
I do find that somewhat confusing. Can the "bombs" or message be turned off so it is less confusing?
Dude...I don't think you're getting this system at all.

Don't USE the meter to enter trades...use the PA to enter trades and the meter is your 1 stop visual confirmation.

It's literally being handed to you...but you're not grasping the concept whatsoever...

Also, on your post about the DX meter being a work in progress...TOTAL BS.

Just because you use a Hammer as a screwdriver doesn't mean the hammer doesn't work...you're simply not applying it correctly.

I WON'T Stand for ANY criticism of DX...he has done NOTHING but help each and everyone of us...if you are too ignorant or feeble to understand that then go try another system. Like you're little railroad analogy thread...has it left the station?

-Last time off topic! I just can't take all these questions from people who haven't even read post #1...they just want it all on a silver platter without any work or even personal time invested.
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