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C4 Scalping

  • #7,021
  • Aug 18, 2009 12:50am Aug 18, 2009 12:50am
another easy +10

Summarizing the situation: If I were an oracle, I would finish my FX day today... but I'm not an oracle... I'll search trade situations for the rest of the day. This is why, I finish my days with losses...

Anyway: all of my wins are VERY quick wins & all of my losses are slow losses. Somehow we have to measure the speed of the MOMENTUM.
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  • #7,022
  • Aug 18, 2009 12:58am Aug 18, 2009 12:58am
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...
Hi Duck,

with the greatest of respect, if you do read the 400+ pages you will find out that it is not 400 pages of arguing. You will not only get your meat and potatoes but also a tasty dessert.

I know 400+ pages is a lot and I think most people have taken the time to read it all, it really is worth it! I put a PDF file together that covers the first 170 pages, this contains only the Edge postings. Maybe this will help you.

Wishing you happy trading.

Nick
  • #7,023
  • Aug 18, 2009 1:04am Aug 18, 2009 1:04am
Quoting GrZack
Anyway: all of my wins are VERY quick wins & all of my losses are slow losses. Somehow we have to measure the speed of the MOMENTUM.
Yes, we talked about that in the past. No programmer has picked up the idea unfortunately. I think measuring the accelaration of Momentum would be of great benefit for the system and a way to filter some bad signals.
  • #7,024
  • Aug 18, 2009 1:04am Aug 18, 2009 1:04am
Quoting DaveW
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
Dave W
OK thanks for that. Spose I'll have to knuckle down to it now.
Cheers
We are all One. Be present. Be the Observer
  • #7,025
  • Aug 18, 2009 1:07am Aug 18, 2009 1:07am
Quoting tex
Yes, we talked about that in the past. No programmer has picked up the idea unfortunately. I think measuring the accelaration of Momentum would be of great benefit for the system and a way to filter some bad signals.
Tex, yeah, I remember this is why I mentioned once again
  • #7,026
  • Aug 18, 2009 1:11am Aug 18, 2009 1:11am
Have any of you brilliant programmers thought of using acceleration of momentum? Just wondering.
  • #7,027
  • Aug 18, 2009 1:15am Aug 18, 2009 1:15am
Let's get the pip flood flowin' !!

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  • #7,028
  • Aug 18, 2009 1:15am Aug 18, 2009 1:15am
Quoting tex
Yes, we talked about that in the past. No programmer has picked up the idea unfortunately. I think measuring the accelaration of Momentum would be of great benefit for the system and a way to filter some bad signals.
i'm with you on that, been spending a lot of time thinking on this for past couple weeks
  • #7,029
  • Aug 18, 2009 1:18am Aug 18, 2009 1:18am
Quoting mikepip
Have any of you brilliant programmers thought of using acceleration of momentum? Just wondering.
pardon me?
you mean, accelerator oscillator?
  • #7,030
  • Aug 18, 2009 2:06am Aug 18, 2009 2:06am
Quoting GrZack
pardon me?
you mean, accelerator oscillator?
I was chiming in on what 2 people had just said - hence the joke...
Anyways, an indicator that measures the rate at which the price is increasing over a given period of time seems as if it would give an additional filter. I believe it is velocity ...
  • #7,031
  • Aug 18, 2009 2:30am Aug 18, 2009 2:30am
Quoting mikepip
I was chiming in on what 2 people had just said - hence the joke...
Anyways, an indicator that measures the rate at which the price is increasing over a given period of time seems as if it would give an additional filter. I believe it is velocity ...
The "acceleration" of Momentun has nothing to do with time...

The acceleration simply is the difference between today momentum and yesterday momentum (or the current bar momentum and the previous bar momentum)...this is the 1 bar acceleration.
The formula is very very simple and it's the same of every momentum strategy that you can find in Tradestation, Metastock, TOS and so on...
I've worked on this and i've also created a momentum acceleration indy...but this is not the point...or i'm missing something or this doesn't filter the bad signals from my tests...

P.S. You can easily see momentum acceleration buy putting a momentum setted to 1 over your momentum indy window and applying it on "previous indicator's data", simply is the "momentum of momentum"...
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,032
  • Aug 18, 2009 2:41am Aug 18, 2009 2:41am
Quoting Chris_B
The "acceleration" of Momentun has nothing to do with time...

The acceleration simply is the difference between today momentum and yesterday momentum (or the current bar momentum and the previous bar momentum)...this is the 1 bar acceleration.
The formula is very very simple and it's the same of every momentum strategy that you can find in Tradestation, Metastock, TOS and so on...
I've worked on this and i've also created a momentum acceleration indy...but this is not the point...or i'm missing something or this doesn't filter the bad...
Chris,

Thanks for the info. I am slowly learning here. I have one question. Is there an indicator that measures the speed at which price is moving - kind of like pps (pips per second)?
  • #7,033
  • Aug 18, 2009 2:46am Aug 18, 2009 2:46am
Well, ok then lets give this baby another name. 'Acceleration of Mom' seems to be not the right one for that we were talking about.
Yes, I too think it has something to do with the time component.
An Example :
Lets say PA moves in 10sec 5 pips in a direction. That would be a rather slow PA and slow 'acceleration'.
In another case PA moves 20 pips in 10secs. That would be a fast move and an increase of the 'acceleration' i was talking about.
Like someone said before, the good trades move almost every time to +5 fast.
Most of the bad ones move much more slower. I noticed that too.
The idea behind is simply that the probability of a good trade is higher when PA moves fast in our direction.
Hope that makes things clearer.
Perhaps the term 'PA velocity' suits better ? Don't know.

Quoting Chris_B
The "acceleration" of Momentun has nothing to do with time...

The acceleration simply is the difference between today momentum and yesterday momentum (or the current bar momentum and the previous bar momentum)...this is the 1 bar acceleration.
The formula is very very simple and it's the same of every momentum strategy that you can find in Tradestation, Metastock, TOS and so on...
I've worked on this and i've also created a momentum acceleration indy...but this is not the point...or i'm missing something or this doesn't filter the bad...
  • #7,034
  • Aug 18, 2009 2:47am Aug 18, 2009 2:47am
Quoting mikepip
Chris,

Thanks for the info. I am slowly learning here. I have one question. Is there an indicator that measures the speed at which price is moving - kind of like pps (pips per second)?
I don't think...i've nevere heard of it..
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,035
  • Aug 18, 2009 2:54am Aug 18, 2009 2:54am
Quoting tex
Well, ok then lets give this baby another name. 'Acceleration of Mom' seems to be not the right one for that we were talking about.
Yes, I too think it has something to do with the time component.
An Example :
Lets say PA moves in 10sec 5 pips in a direction. That would be a rather slow PA and slow 'acceleration'.
In another case PA moves 20 pips in 10secs. That would be a fast move and an increase of the 'acceleration' i was talking about.
Like someone said before, the good trades move almost every time to +5 fast.
Most of the bad ones move...
Ok
my post was just to clarify the concept of acceleration...
I really don't know if there is correlation between how much time takes a brick to form and the probability of make another brick...

Every day i see a very fast movement...a brick reversal forming in just 10 seconds...a signal that seems good....and instead reverses again without forming another brick... so i have serious boubts that these things can be in correlation...but i can be wrong...

At this point i could not understand why we are trading with a "non time" chart as renko if we then need a "time indy" to enter the trade...

Just my opinion...

P.S. I would concentrate instead on the concept of momentum and volatility...Edge said in more than 1 post that we have to adapt to the market conditions...something like:" if momentum is good....is there enough volatility to make 1 new brick?"
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,036
  • Aug 18, 2009 4:10am Aug 18, 2009 4:10am
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?
Hi,

I've got the message I'll do a new version ASAP.
  • #7,037
  • Aug 18, 2009 4:18am Aug 18, 2009 4:18am
Volatility. That depends on how you define volatility.BTW Volatility is time based too. http://en.wikipedia.org/wiki/Volatility_(finance)

Renko bricks are built without time and that's good. Herein lies the concept; Getting back the time component but in another way. Measuring the PA velocity (the faster the better) combined with decent momentum on a brick with a TRIX Signal= higher probability for moves in the given direction. I would love to test this in forward testing, but i am not a coder and can't code such an indi by myself.

Quoting Chris_B
Ok
my post was just to clarify the concept of acceleration...
I really don't know if there is correlation between how much time takes a brick to form and the probability of make another brick...

Every day i see a very fast movement...a brick reversal forming in just 10 seconds...a signal that seems good....and instead reverses again without forming another brick... so i have serious boubts that these things can be in correlation...but i can be wrong...

At this point i could not understand why we are trading with a "non time" chart as renko...
  • #7,038
  • Aug 18, 2009 4:48am Aug 18, 2009 4:48am
Quoting Pipo
I have 3 Mt4 platforms running and two monitors. One to place my trades and also has the Nitro setup as shown in my previous posts, one with a very clean 10 a 3 tic chart Renko setup and the third platform is dispalying Oil,Gold,Dax,FTSE,DJ and the Dollar index. So far this has given me all information to enter or exit a trade successfully.
Pipo

Which broker gives you a FTSE feed please?
  • #7,039
  • Aug 18, 2009 4:52am Aug 18, 2009 4:52am
Another +10. Everything pointed downward.
CHFJPY also, which moves like a mammoth.
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  • #7,040
  • Aug 18, 2009 5:00am Aug 18, 2009 5:00am
Quoting Chris_B
At this point i could not understand why we are trading with a "non time" chart as renko if we then need a "time indy" to enter the trade...
Hi Chris,

Imo, renko is used as a noise filter. The range of the price in each brick is 3 times the size of the brick (1 in the trend direction, and 2 in countertrend direction), so the trader do not overreact to price movements.

Relating to time, I think that PA involves price and also time, and so the trader always looks for the pairs with the best PA (the fast movement of price per time unit, and other factors).

If "no time" were considered, Nitro would be a pattern recognition system without taking into account if each brick were drawn in minutes, or in days. I think we look for momentum (speed, acceleration, etc.) in order to place the order and be out of the trade with the highest hit probability. For the same price movement, the smaller the time, the stronger the trend. The stronger the trend, the higher the likelihood of reaching the TP price.

In brief (imho), renko is a noise filter, and time is always in some way part of the concept of PA. And PA tells us to place or not the order.

Regards.
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