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C4 Scalping

  • #6,701
  • Aug 14, 2009 11:29am Aug 14, 2009 11:29am
Quoting ferran586
Edge,

If you were confident that you were going to reach you +5 target, wouldn't you just leave the 5 mini lots to TP for $25 instead of $15? Scaling profit when your target is only 5 pips doesn't quite make sense to me. Why would YOU do it?

Eric
That is exactly what I would do.

Scaling is fine if used on a swing trade plan, is dangerous when scalping at +10 or less. It has a sound theory but needs proper usage.

Regards.
  • #6,702
  • Aug 14, 2009 11:31am Aug 14, 2009 11:31am
Quoting wannaberich
leaving to get them , Sir!
Enemy recon quickly arrived at area of destruction.

Take it to DefCon 5.

Regards.
  • #6,703
  • Aug 14, 2009 11:34am Aug 14, 2009 11:34am
Quoting Edgetrader
That is a BIG 'if'.

I can trade pretty well most days at the +5 level and I personally would NEVER do this.

Regards.
To be quite honest.....I like what I am doing and I like the results as well.

Hitting a small target when the odds are in your favor is not THAT difficult if you are consistent and disciplined.

It will be tough job convincing me to " water down " a 5 pip profit target.

Regards.
" Never let the past hold the future to ransom "
  • #6,704
  • Aug 14, 2009 11:37am Aug 14, 2009 11:37am
Quoting ferran586
Edge,

If you were confident that you were going to reach you +5 target, wouldn't you just leave the 5 mini lots to TP for $25 instead of $15? Scaling profit when your target is only 5 pips doesn't quite make sense to me. Why would YOU do it?

Eric
Guess I am not on my 'A' game with regards to mental exercises today.

You folks caught on to that one way too quickly. :nerd:

Regards.
  • #6,705
  • Aug 14, 2009 11:38am Aug 14, 2009 11:38am
enemy is holding on to the pips firmly, Sir.

just got word from Com that bailing out is to be considered, Sir. contrary signals found!

will hold position since we have 1.42 barrier protecting us, Sir.

over and out!
dreams do come true.
  • #6,706
  • Aug 14, 2009 11:41am Aug 14, 2009 11:41am
Quoting Edgetrader
Guess I am not on my 'A' game with regards to mental exercises today.

You folks caught on to that one way too quickly. :nerd:

Regards.
Nothing wrong with chucking a few curved balls around late Friday after trading

Regards.
" Never let the past hold the future to ransom "
  • #6,707
  • Aug 14, 2009 11:41am Aug 14, 2009 11:41am
One very important factor I trade with is the Breakeven.

I toy with these possibilities because I am sure, I do not know the all of it as well.

My thinking is that if we go for ten, why not more if possible.

If we take 20 stop loss, or the last high or low of the entry, we just take it if we are wrong.

Edge is brilliant with this C4, I bought Renko but am not sure how to use the candles actually. I read Steve N, but still am confused somewhat, I only know I like them.

I made 106 pips this morning with this on some puney pips. I go for a Breakeven plus 1 or 2. I am almost always getting it. I take what I can get out of it.

I also like the idea of the approach of the ten etc. with Edge.

I am so grateful for Edge, really. He is a great trading coach.
  • #6,708
  • Aug 14, 2009 11:45am Aug 14, 2009 11:45am
Quoting SusanD
One very important factor I trade with is the Breakeven.

I toy with these possibilities because I am sure, I do not know the all of it as well.

My thinking is that if we go for ten, why not more if possible.

If we take 20 stop loss, or the last high or low of the entry, we just take it if we are wrong.

Edge is brilliant with this C4, I bought Renko but am not sure how to use the candles actually. I read Steve N, but still am confused somewhat, I only know I like them.

I made 106 pips this morning with this on some puney pips. I...
Are you having trouble with the Renko brick themselves or the SM Scalper Candle overlay we use in the thread?

Regards.
  • #6,709
  • Aug 14, 2009 11:50am Aug 14, 2009 11:50am
We got them, Sir!

now for a 2 days leave. can't say that i deserve it as i had a really lousy week!

next week:

i'll be given 4 rounds. can't miss one or i will expose my position. waiting patiently will be a very difficult task for me.

a great weekend for all and again thanks everyone for your help, time and patience!
Attached Image (click to enlarge)
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dreams do come true.
  • #6,710
  • Aug 14, 2009 11:54am Aug 14, 2009 11:54am
well i'm done for the week. i'm up pips for the week, about 10% profit on live account. Everybody have a great weekend and I'll be in Vegas all of next week so have a great weekend and next week.
  • #6,711
  • Aug 14, 2009 11:55am Aug 14, 2009 11:55am
Ok here is my plan for next week:

I am going to trade one contract, one mini equally one dollar.

I will have the EA take 20 percent every 2 pips, which is at 2-4-6-8-10.

If the market only goes 7 pips you have bagged money and you will not loose anything.

I use a Breakeven plus 1 or 2 and then take what the market give me, usually never loosing anything or merely taking 2 pips.

If the market goes ver volitile, then you make a lot more as before the market can get your order through your at 4 pr 5 and you get that.

What we strive for is to make more than ten and not loose money.

The least we could do, is have a Breakeven at 4 or whatever pips and then try to get the 10.
  • #6,712
  • Aug 14, 2009 11:57am Aug 14, 2009 11:57am
Thanks for asking.

I am confused, do you look at the candles and use them as your would the normal candles? If so, what are they for.

They appeal to me as being just about market movement without the element of time involved. Is that correct.

The other night I tried to go for ten pips at the end of each candle in a trend. Is that how you use them.
  • #6,713
  • Aug 14, 2009 12:02pm Aug 14, 2009 12:02pm
The screenshot is from a study done some time ago about the probability and prediction of PA.

1) If price move 10 pips what is the probability that it will move another 10, 20 etc
2) The study is outdated but the concept and findings remain true to some extent

We are trading right on the limit (5M charts)
We do have the odds on our side by using a sound and proven method.

Look what happens to the probability % if the targets should be increased.
Attached Image
" Never let the past hold the future to ransom "
  • #6,714
  • Aug 14, 2009 12:06pm Aug 14, 2009 12:06pm
Quoting SusanD
Ok here is my plan for next week:

I am going to trade one contract, one mini equally one dollar.

I will have the EA take 20 percent every 2 pips, which is at 2-4-6-8-10.

If the market only goes 7 pips you have bagged money and you will not loose anything.

I use a Breakeven plus 1 or 2 and then take what the market give me, usually never loosing anything or merely taking 2 pips.

If the market goes ver volitile, then you make a lot more as before the market can get your order through your at 4 pr 5 and you get that.

What we strive for...
It sounds as though you have a trading plan that you enjoy and are comfortable with. That of course is great!

On the other side of that coin, I would ask that no results of such are introduced in this thread as we constantly have focus issues. This thread is 100% geared to trading a specific strategy and I would appreciate your honoring this purpose at this time.

Regards.
  • #6,715
  • Aug 14, 2009 12:10pm Aug 14, 2009 12:10pm
Quoting SusanD
Thanks for asking.

I am confused, do you look at the candles and use them as your would the normal candles? If so, what are they for.

They appeal to me as being just about market movement without the element of time involved. Is that correct.

The other night I tried to go for ten pips at the end of each candle in a trend. Is that how you use them.
Renko are 100% PA oriented and do not consider any time aspects.

Try loading up the Nitro plan from page one exactly as set forth and see how it performs under your own trading efforts.

Renko are excellent for trend recognition. The combination of the SM Scalper Candles incorporate my favorite accompanying indicator. That would be a Trix. Tris is great at both trend strength and momentum.

A simple MA allows one to take the breaks of PA across such as they choose. I simply ask the thread followers to concentrate on ALL four pairs listed as it gives a very good overall view of market PA in a big picture format.

Regards.
  • #6,716
  • Aug 14, 2009 12:11pm Aug 14, 2009 12:11pm
Quoting Gleneagles
The screenshot is from a study done some time ago about the probability and prediction of PA.

1) If price move 10 pips what is the probability that it will move another 10, 20 etc
2) The study is outdated but the concept and findings remain true to some extent

We are trading right on the limit (5M charts)
We do have the odds on our side by using a sound and proven method.

Look what happens to the probability % if the targets should be increased.
Can you link this please? I would like to see some more!

-Darren
  • #6,717
  • Aug 14, 2009 12:12pm Aug 14, 2009 12:12pm
Quoting DocPMD
Today's results:

C4 Trades:

EURUSD +5 +5 -8 +5

Nitro Trades:

EURJPY +5
USDJPY +5

Total for the day +17. May come back during NY session, but I doubt it!
Got my last 5 pips at the end of the "approved" time for C4:

EURUSD +5

Have a nice weekend, everyone.
  • #6,718
  • Aug 14, 2009 12:16pm Aug 14, 2009 12:16pm
Quoting pilotui
Can you link this please? I would like to see some more!

-Darren
Darren,

No problem.

It is a good idea to read the whole research document, the methodology used etc. to put the findings in context.
I will post it later...time to have a cold one, sit back and recharge and put forex to bed.

Have a great weekend all.

Regards.
" Never let the past hold the future to ransom "
  • #6,719
  • Aug 14, 2009 12:18pm Aug 14, 2009 12:18pm
Quoting Gleneagles
The screenshot is from a study done some time ago about the probability and prediction of PA.

1) If price move 10 pips what is the probability that it will move another 10, 20 etc
2) The study is outdated but the concept and findings remain true to some extent

We are trading right on the limit (5M charts)
We do have the odds on our side by using a sound and proven method.

Look what happens to the probability % if the targets should be increased.
Am familiar with this study.

C4 is designed to be traded at any TF. Simply depends on ones account size as to what TF they should trade.

Greed is always a kiss of death. Playing the mathematical odds is different. The numbers do not lie.

Once those who like trading C4 are really comfortable and proficient at a 5M TF, they are of course welcome to trade as they wish. It is, after all, their funds they are placing at risk.

Good posting and thanks.

Regards.
  • #6,720
  • Aug 14, 2009 12:20pm Aug 14, 2009 12:20pm
Quoting Edgetrader
Stick with PA strength and big picture.

Shorts for +5 not all that difficuly.

AU did not signal but was actually leading this move.

Part of the group, and a good opportunity to get a virtual free +5 by just taking the group as a whole based upon the overall market PA.

Regards.
Edgetrader? how do you get so many bars into your chart and make the dx dashdoard so small?
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