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C4 Scalping

  • #7,001
  • Aug 17, 2009 7:56pm Aug 17, 2009 7:56pm
Quoting Chris_B
Effectively i don't think that the renko script has to be time based....if he starts at "some hour" it always will be different...it has to be price based...if our starting point is 0...we will have a new brick every 10 pips...so if a brick starts at the price of 100.00...it will close at 100.10 and so on...and i'm quite sure we will have exactly the same picture... at least theoretically...i don't know if technically he can do it...
I'm not suggesting we start at a random time - I'm suggesting 00:00 GMT which is midnight at the Greenwich observatory. That's 7 PM for me and whatever time it is for you depending on your time zone. Anyway, point is that it seems like price at that time should be the same for everyone - Michal says no, it is not.

I'm not sure rounding to the nearest 10 pips solves anything for any of us if the script continues to start 20,000 1 minute bars back in time which is what it does now. This is what's causing the repainting issue and causing none of our prices to match - we all start 20k bars back from "now" which is whenever we start the script. Naturally it will never be the same spot.

I usually don't shut MT4 down at any time during the trading day so this is not much of an issue but I can see that it would be for those doing visual backtesting...
Old Benjamin was right
  • #7,002
  • Aug 17, 2009 8:03pm Aug 17, 2009 8:03pm
Quoting Lou G
I'm not suggesting we start at a random time - I'm suggesting 00:00 GMT which is midnight at the Greenwich observatory. That's 7 PM for me and whatever time it is for you depending on your time zone. Anyway, point is that it seems like price at that time should be the same for everyone - Michal says no, it is not.

I'm not sure rounding to the nearest 10 pips solves anything for any of us if the script continues to start 20,000 1 minute bars back in time which is what it does now. This is what's causing the repainting issue and causing none of...
20,000 or 10,000 1M bars ago (as it is now) is still a "time" concept...we don't need it...this is the change that the script needs...
1+1=2 ... at whatever time you do it...or in whatever part of the world you are...so...10 pips bricks starting from 0 will ever give us the same picture...
Ok...now i stop with these "night issues"
We will ask to Michal...
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,003
  • Aug 17, 2009 8:17pm Aug 17, 2009 8:17pm
Frankly guys and gals, I think you are totally missing the point of this thread.

Would it be nice for everyone to be looking at the exact same charts? Yes, no doubt.

But, as pointed out many times by Edge, this method is all about momentum and not about price. So if the basis for this method is sound, it should not matter whether one person's "brick" starts two or three or five pips later than the other guys. If the momentum is there, price should carry through to give the desired 5 pips.

I admire everyone's desire for perfection here, but the fact of the matter is that the entry is simply not that critical. Judging momentum is, and skill in exiting the position (for profit or loss) is much more critical. And unfortunately, there are a couple of key reasons why your quest for identical charts is a very difficult, if not impossible goal.

Doc

Edit: Another point that should be obvious is that if the performance of this method is highly dependent upon the starting point for the Renko charts (which is inferred because of the fact that you are discussing this at length), then the method is not robust enough to work over the long term. Hopefully the method is a lot more robust than that.
  • #7,004
  • Aug 17, 2009 8:32pm Aug 17, 2009 8:32pm
If it is an issue and keeps everyone awake at night then way don't we run the setups on a demo account by same broker with GMT (like ibfx or alpari) and set it to 5000 bars and take your trades with your broker of choice.
  • #7,005
  • Aug 17, 2009 8:32pm Aug 17, 2009 8:32pm
Quoting TheFutureAce
Czec Jackal, Jak sie masz?

haha my wife is Polish
Dobrze, dziekuje My wife is Polish too
  • #7,006
  • Aug 17, 2009 8:33pm Aug 17, 2009 8:33pm
Doh! now I missed an entry.

-still got it over and done +10 GJ
  • #7,007
  • Aug 17, 2009 8:42pm Aug 17, 2009 8:42pm
EJ short +5
btw I am posting live trades
  • #7,008
  • Aug 17, 2009 9:14pm Aug 17, 2009 9:14pm
Got one +5 on ej. Trade lasted 7 minutes - There was a couple of bursts of energy but overall this is terrible time to trade this method. During real momentum, i normally would have been out of a trade in seconds with a winner.
  • #7,009
  • Aug 17, 2009 9:21pm Aug 17, 2009 9:21pm
You will never have the same chart unless you all go with the same broker and anchor the renko start (it doesn't matter when Renko starts, it depends on which price it starts to draw the bricks, 00, 05 etc.), the datafeed is very different from one broker to the other, sometimes up to 10 pips depending the pair to trade.

Quoting DocPMD
Frankly guys and gals, I think you are totally missing the point of this thread.

Would it be nice for everyone to be looking at the exact same charts? Yes, no doubt.
  • #7,010
  • Edited 9:51pm Aug 17, 2009 9:21pm | Edited 9:51pm
Hi all,

I use buy/sell scripts to enter trades for NITRO with setting SL at 21 and TP at 5. However, for pairs like AUDJPY and CHFJYP, the broker's minimum TP is 10pips.

Would appreciate if anyone could provide some info as to how to overcome this whilst using the scripts.

Thks.

dngfx
  • #7,011
  • Aug 17, 2009 9:32pm Aug 17, 2009 9:32pm
Quoting dngfx
Hi all,

I use buy/sell scripts to enter trades for NITRO with setting SL at 21 and TP at 5. However, for pairs like AUDJPY and CHFJYP, the broker's minimum SL is 10pips.

Would appreciate if anyone could provide some info as to how to overcome this whilst using the scripts.

Thks.

dngfx
You mean minimum TP is 10pips? I don't think you can do much. Either use some sort of a trade manager EA or adjust manually the TP to 5 if trade goes 5pips against you or exit manually.
  • #7,012
  • Aug 17, 2009 9:55pm Aug 17, 2009 9:55pm
Quoting Pipo
You mean minimum TP is 10pips? I don't think you can do much. Either use some sort of a trade manager EA or adjust manually the TP to 5 if trade goes 5pips against you or exit manually.
Thks Pipo,

Sorry about the typo..

Yeah..its just too cumbersome to manually adjust when PA is strong...sometimes....just panic and adjust wrongly.

dngfx
  • #7,013
  • Aug 17, 2009 10:27pm Aug 17, 2009 10:27pm
one of my ex-girlfriend is polish

btw, easy +15
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  • #7,014
  • Aug 17, 2009 10:29pm Aug 17, 2009 10:29pm
Hello, I am currently scalping successfully trading the Ross Hook as instructed by Joe Ross and I HIGHLY recommend it. However, I get bored and start looking out for new systems and this one caught my eye. The problem is....I don't really know what it is!!!

Do I just wait for the DX meter to tell me to buy or sell? No need to monitor the other indis cuz the DX meter tells me all I need to know? Early in the first post the author says you should have at least 2 indicators on the DX meter same color, later he says all three should be same color....confusing.

The 3 indis I must have on the chart are: smC4Scalper Candles_v3.ex4 (http://www.forexfactory.com/attachment.php?attachmentid=274903&d=1247926425) ; MA in Color_wAppliedPrice.mq4 (http://www.forexfactory.com/attachment.php?attachmentid=286219&d=1249699316) and DXTrade C4 Nitro Dashboard.ex4 (http://www.forexfactory.com/attachment.php?attachmentid=288751&d=1250134079) ....is that correct? The original author includes in his attached files both 'smSuper TRIX_PV_4col.ex4 (http://www.forexfactory.com/attachment.php?attachmentid=286222&d=1249699592)' and HMA Color nrp.ex4 (http://www.forexfactory.com/attachment.php?attachmentid=286223&d=1249699628) ....are they used to further filter?

I suspect the reason for the confusion is that the thread became about 2 or 3 trading systems as opposed to one with the apparent introduction of Nitro scalping. It probably would have been a better idea to split the thread.

Please, don't tell me to go back and read the thread. I'm willing to do the work but there's 400+ pages of people arguing what constitutes 'scalping'. I need some meat and potatoes and there's a lot of junk food in there.
  • #7,015
  • Aug 17, 2009 10:39pm Aug 17, 2009 10:39pm
Quoting jackal
Dobrze, dziekuje My wife is Polish too

Nice good Job

I am getting consistant at this method. Soon I will be going live with this method...Thats when I will start to sweat.....lol

for now all the trades were hit...The best was USDCAD
  • #7,016
  • Aug 17, 2009 10:40pm Aug 17, 2009 10:40pm
Quoting GrZack
one of my ex-girlfriend is polish

btw, easy +15
good...keep those pips coming
  • #7,017
  • Edited 12:19am Aug 18, 2009 12:09am | Edited 12:19am
Quoting DuckofDeath
Hello, I am currently scalping successfully trading the Ross Hook as instructed by Joe Ross and I HIGHLY recommend it. However, I get bored and start looking out for new systems and this one caught my eye. The problem is....I don't really know what it is!!!

Do I just wait for the DX meter to tell me to buy or sell? No need to monitor the other indis cuz the DX meter tells me all I need to know? Early in the first post the author says you should have at least 2 indicators on the DX meter same color, later he says all three should be same color....confusing....
1 methodology 2 ways to go about it.
Post #1 says it all. I followed this thread pretty much since it started and it is one of only a very few threats which stayed true to the original methologody and layout but If something has been adjusted to make it even easier to follow or has become relevant you will find it in Post#1.
So no need to waste your precious time and go through all the posts unless you don't trust the creator and you think he kept some juicy chuncks of meat hidden in the thread.
You can use the "Search This Thread "Tool to get quick answers for questions already asked.
And yesI highly recommend this methodology unless Ross Hook does already fill your pockets to finance activities to kill your boredom.
  • #7,018
  • Aug 18, 2009 12:09am Aug 18, 2009 12:09am
G'day all
Hope nobody jumps down my throat here but is anyone trading Nitro and making 10 or more consec winners?---apart from Edge? I know, I know, I KNOW you gotta have your losses but consec winners are a good indication of a robust system.
This is just to help me motivate myself to digest 7000 odd posts and I think is a fair question.
Remember we are all one--if you help me you help yourself!
We are all One. Be present. Be the Observer
  • #7,019
  • Aug 18, 2009 12:16am Aug 18, 2009 12:16am
IAMFX

If you look back a few pages you will see at least one post from a member who made 20 pips a day ( 4 x 5 pips) for a full week, i.e. 20 winning trades in a row. Seems to me a good indication of the success of the Nitro method.

Dave W
  • #7,020
  • Aug 18, 2009 12:40am Aug 18, 2009 12:40am
Two EJ trades today.
And again the proof that visual backtest on Renko is impossible (see my 1st trade who made +5 before going south.
And YES, there was an arrow before the 1st trade... just changed the Dashboard settings since.
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"The only successful substitute for brains is silence."
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