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C4 Scalping

  • #6,961
  • Aug 17, 2009 2:01pm Aug 17, 2009 2:01pm
Well I said I was done for today, so I took my boys to the park and they had a great time got back and bam they fell asleep so i looked at the charts and I saw a few opportunites so I took them and bam
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  • #6,962
  • Aug 17, 2009 2:04pm Aug 17, 2009 2:04pm
Quoting kodflakes
Well I said I was done for today, so I took my boys to the park and they had a great time got back and bam they fell asleep so i looked at the charts and I saw a few opportunites so I took them and bam
Take them to the park again tomorrow. It seems to work really well
" Never let the past hold the future to ransom "
  • #6,963
  • Edited 7:10pm Aug 17, 2009 2:08pm | Edited 7:10pm
Quoting Edgetrader
Hint. Spread is nothing to be overly concerned about. We need only MOMENTUM.

When you have that, it matters not what a pairs spread is. That is for the brokerages to survive on. Why do different pairs have higher spreads? Simple. Easy money for the brokerages is one thing, however, they also want you to succeed so as to trade more often with them.

As such, with decent momentum, even GY will knife through a 7-9 pip spread during optimum trading times as if it were a 2 pip spread.

Again, great observation earlier. I piss and moan about diminished...
Thanks Edge,
Just got in, missed today's action for the most part.

Been reading, though.

This is where it gets kinda tricky with momo and automation.
I tend to agree with Glen and Doc on risk technical's for the very short term.
Need to decide whether we want to front-run Trix with momentum at this point or back off a bit.
I reckon,either way Nitro is toast .

Seen aggressive settings 2, 10, 2, 3 coming in @ 87% -ish, thanks Chris.
Might work well for the machines and some traders but,
going with the 'order'-flow to certain extent can help.
I've backed off my manual settings- running 2,25, 8, 3- conservative (almost swing type momo)with Trix confirmation, clipping along at 95%.
Much easier to get away with 2.5% risk on each transaction.

Best,
J
  • #6,964
  • Aug 17, 2009 2:12pm Aug 17, 2009 2:12pm
Only took one trade today +5
Not a lot of time to be at the puter today.

Added the Nitro momentum indy and was only taking trades with double confirmation ( momentum indy and trix cross ) .

But as I said not much time to trade today. Missed a few entries that looked good, had I been there.


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  • #6,965
  • Aug 17, 2009 2:12pm Aug 17, 2009 2:12pm
Quoting DocPMD
This topic has really been eating at me for a while, because I don't think that some of the folks here have a clue about what is going on with respect to risk.

Both C4 and Nitro are based upon watching PA on four highly correlated pairs....
Hi Doc,

I think, globalizing the overall Trend is one of the very worst Decisions. Every pair have itīs "individual" Behavior (like you, for example...).
So, observe the main Trend with one of your Eyes and the single Pairs with the other one.
If you recognice a Bias correspondence, take the trade. If not, let it be...
  • #6,966
  • Aug 17, 2009 2:39pm Aug 17, 2009 2:39pm
Quoting Toledo
Hi Doc,

I think, globalizing the overall Trend is one of the very worst Decisions. Every pair have itīs "individual" Behavior (like you, for example...).
So, observe the main Trend with one of your Eyes and the single Pairs with the other one.
If you recognice a Bias correspondence, take the trade. If not, let it be...
Surely when we trade, we trade on confirmation..not speculation. We look at trading correlated pairs and expect to see closely correlated PA as well.
I think that is exactly what Doc meant, unless I read it wrong. The only difference is that he suggested managing the risk more effectively by trading one pair rather than a basket of related currencies.
" Never let the past hold the future to ransom "
  • #6,967
  • Aug 17, 2009 2:39pm Aug 17, 2009 2:39pm
Hi all,

too bad, because of my job I am only able to trade during C4 Off Times...

I tried to work with Renko, but my IBM ThinkCentre will not. Donīt know why, maybe it thinks female (sorry, Ladies...)
I tried very hard, BUT IT DOES NOT WORK !!!

So I tried for today a combination of C4 and Range Trading. Not the very best idea, but it worked for me !

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  • #6,968
  • Aug 17, 2009 2:41pm Aug 17, 2009 2:41pm
Quoting Edgetrader
Do not disagree at all.

Gave the hint last week that 'nobody said you had to TRADE all pairs, only WATCH them. Only took a month or so for someone to crack the nut on that mental exercise. Thank God this happened this week. New thread will reflect MM for such.

Nice clear and concise explanation for why also.

Of course you only trade one pair. You have a nice big picture to look at to gage market direction.

Trading four pairs at once is really difficult at times. It can be done but why should you?

If you have FAITH in the...

For me personally I have been watching and demo trading Nitro for a few weeks now. Having watched 4 Nitro and 2 Non nitro pairs, the one that seems to be the easiest to trade is the EU/JP. It seems to have more steady short term trends and les flip flopping of Renko bricks (i.e. less ranging). CHF, USD, AUD, and GBP like to flip-flop a bit and while I love the volatility of the GBP/JPY for me it can be very fast, faster than me anyway.

I am still live trading C4, but like the simplicity of Nitro on the eyes, and will once things settle down and I can pay more attention to the screen will move away from C4 to Nitro.
  • #6,969
  • Aug 17, 2009 3:21pm Aug 17, 2009 3:21pm
Quoting Gleneagles
Surely when we trade, we trade on confirmation..not speculation. We look at trading correlated pairs and expect to see closely correlated PA as well.
I think that is exactly what Doc meant, unless I read it wrong. The only difference is that he suggested managing the risk more effectively by trading one pair rather than a basket of related currencies.
Hi Glen,

please donīt misunderstand me. I interpreted Docīs Post as a kind of Question... Sorry, if iīm wrong!
By the way I will agree, managing one pair is more effectively then managing a basket!
  • #6,970
  • Aug 17, 2009 3:34pm Aug 17, 2009 3:34pm
Quoting kodflakes
Well I said I was done for today, so I took my boys to the park and they had a great time got back and bam they fell asleep so i looked at the charts and I saw a few opportunites so I took them and bam
After getting my 2%, couldn't resist to get back in a derail a few more trains and...... unfortunaterly got into a trade out of the time frame... waited and waited for momentum to pick up, had to move away from the computer so i lower my S/L and when i came back.... -16. Gave away back most of my profits for the day. I am telling you, and telling myself over and over, Just listen and follow Edge's teachings. When i do that without trying to outsmart him i do great, when i get all confident and don't follow.. this is what happens. I still have to work very hard in that 75% part of the deal.
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Regards, and once again... Thanks Edge and the rest of the gurus in this thread.
JC
  • #6,971
  • Edited 3:52pm Aug 17, 2009 3:38pm | Edited 3:52pm
Quoting Toledo
Hi Glen,

please donīt misunderstand me. I interpreted Docīs Post as a kind of Question... Sorry, if iīm wrong!
By the way I will agree, managing one pair is more effectively then managing a basket!
No problem, I was confused by your post and wanted some clarification.
We are all on the same page now
" Never let the past hold the future to ransom "
  • #6,972
  • Aug 17, 2009 3:49pm Aug 17, 2009 3:49pm
Quoting Analda3
After getting my 2%, couldn't resist to get back in a derail a few more trains and...... unfortunaterly got into a trade out of the time frame... waited and waited for momentum to pick up, had to move away from the computer so i lower my S/L and when i came back.... -16. Gave away back most of my profits for the day. I am telling you, and telling myself over and over, Just listen and follow Edge's teachings. When i do that without trying to outsmart him i do great, when i get all confident and don't follow.. this is what happens. I still...
Hi Analda3,

Greed is a One-Way-Ticket to Hell in this Business !!! Fight it !!!
  • #6,973
  • Aug 17, 2009 4:00pm Aug 17, 2009 4:00pm
If all the people that brought the renko script will ask for it
SHE WILL DEFINITELY DO THAT...
BUT we must show together , as one team , our interest
Regards
David

Quoting Chris_B
Some days ago the coder of the MT4 renko script wrote that if we want he can anchor the brick formation to a value (0 value?) so we could have all the same picture i think...
Do you think this could help?

Is in post #6281

http://www.forexfactory.com/showpost.php?p=2948926&postcount=6281
  • #6,974
  • Aug 17, 2009 4:10pm Aug 17, 2009 4:10pm
As I am new I only go for 2 pairs. It is good as I am still learning and dont have to do multitask.

Gives me an opportunity to learn the charts
  • #6,975
  • Aug 17, 2009 4:12pm Aug 17, 2009 4:12pm
Quoting Analda3
After getting my 2%, couldn't resist to get back in a derail a few more trains and...... unfortunaterly got into a trade out of the time frame... waited and waited for momentum to pick up, had to move away from the computer so i lower my S/L and when i came back.... -16. Gave away back most of my profits for the day.
Don't let the rat beat you.
If you only trade long, then you can't always be wrong.
  • #6,976
  • Aug 17, 2009 4:12pm Aug 17, 2009 4:12pm
Quoting david4u
If all the people that brought the renko script will ask for it
SHE WILL DEFINITELY DO THAT...
BUT we must show together , as one team , our interest
Regards
David
Thanks


Frankenpip & Toledo, thanks for your input. I know i will beat it.

Regards


JC
  • #6,977
  • Aug 17, 2009 4:18pm Aug 17, 2009 4:18pm
Quoting Gleneagles
No problem, I was confused by your post and wanted some clarification.
We are all on the same page now
Hi Glen,
Iīll hope so...
My conviction: Use every opportunity to help others! Sounds strange...???
  • #6,978
  • Aug 17, 2009 4:18pm Aug 17, 2009 4:18pm
Quoting david4u
If all the people that brought the renko script will ask for it
SHE WILL DEFINITELY DO THAT...
BUT we must show together , as one team , our interest
Regards
David
I guess it's he, not she Michal is a male Polish name

Of course I'm for it too! Do you think, David, we should send him seperate e-mails?
  • #6,979
  • Aug 17, 2009 4:23pm Aug 17, 2009 4:23pm
Quoting TheFutureAce
As I am new I only go for 2 pairs. It is good as I am still learning and dont have to do multitask.

Gives me an opportunity to learn the charts
Hi Ace,

!!!
  • #6,980
  • Aug 17, 2009 4:27pm Aug 17, 2009 4:27pm
Separate emails from all of us sound good to me ...
An email from the big boys showing her our interest will also help.
Regards
David

Quoting jackal
I guess it's he, not she Michal is a male Polish name

Of course I'm for it too! Do you think, David, we should send him seperate e-mails?
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