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C4 Scalping

  • #7,201
  • Aug 19, 2009 12:36pm Aug 19, 2009 12:36pm
Can anyone tell me if they are using a free script for the Renko charting or if the purchased version is the way to go. If anyone has a free script could we post it here. I'll post the one I'm using but i'm not sure it works properly.
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File Type: mq4 RenkoLiveChart.mq4   6 KB | 606 downloads
  • #7,202
  • Aug 19, 2009 12:41pm Aug 19, 2009 12:41pm
-97 the first one -7 if left alone would have made it to its tp. well ill keep telling myself its just a learning curve keep practicing same thing over and over and tweak a little bit is how il find succes sure scalping is thee most profitable trading method if you can master it and iv only practiced for two weeks religusly so hope yet and absolutly seeing great results from yuo folks gives me so much encouregment to believe i can do it!
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  • #7,203
  • Aug 19, 2009 12:50pm Aug 19, 2009 12:50pm
Well, i think it's a personal record i've got here: - 83 pips.

probably this is enough beating for one day

today i managed to turn to +5 trades (2 diferent crosses at the same time) into -25 pips x 2. Greed, right Edge? that should probably give the "a**hole of the day" award.

9 wins 5 losses.

i would be so happy if i had just one 3 or 4 x +5 for one day...

still trying to figure out what is going on between these two ears of mine...

regards to all.
dreams do come true.
  • #7,204
  • Aug 19, 2009 12:53pm Aug 19, 2009 12:53pm
Can someone explain what the term 'momentum' means? ie what is the momentum indi showing, is it the SLOPE of the price-time chart?

Moving on, what on earth is 'acceleration' of momentum?

So far I am working only with C4, but how is momentum (price slope?) and in fact PA judged on a renko chart?

Apologies if already posted.
  • #7,205
  • Aug 19, 2009 12:53pm Aug 19, 2009 12:53pm
Quoting wannaberich
Well, i think it's a personal record i've got here: - 83 pips.

probably this is enough beating for one day

today i managed to turn to +5 trades (2 diferent crosses at the same time) into -25 pips x 2. Greed, right Edge? that should probably give the "a**hole of the day" award.

9 wins 5 losses.

i would be so happy if i had just one 3 or 4 x +5 for one day...

still trying to figure out what is going on between these two ears of mine...

regards to all.

Was your error one of commission or omission?
If you only trade long, then you can't always be wrong.
  • #7,206
  • Aug 19, 2009 12:59pm Aug 19, 2009 12:59pm
Quoting rorieu
Can someone explain what the term 'momentum' means? ie what is the momentum indi showing, is it the SLOPE of the price-time chart?

Moving on, what on earth is 'acceleration' of momentum?

So far I am working only with C4, but how is momentum (price slope?) and in fact PA judged on a renko chart?

Apologies if already posted.
Momentum= Price of this bar - Price of "n" bars ago
Acceleration=Momentum of this bar - Momentum of previous bar

Market is like a puzzle, YOU have to fit the pieces!!
  • #7,207
  • Aug 19, 2009 1:03pm Aug 19, 2009 1:03pm
Dear Frankenpip,

i really believe my biggest mistake is just... lack of patience. once i close a trade (good or bad) my brain always finds some kind of reasoning to get in the market at the very next signal.

today my biggest mistake was, after identifying a channel on EU and AU, being too sure that it would invert there. in fact it did. could have closed with +15 on both trades but it inverted to the medium term trend and i ended up with -50. lack of discipline here too.

but i will be here tomorrow to learn some more and, hopefully, with a whole lot less anxiety.

be well
dreams do come true.
  • #7,208
  • Aug 19, 2009 1:07pm Aug 19, 2009 1:07pm
if i would have taken the +5 times 2 i would haven't lost those -50 and that would be -83 +50 + 10 = -23 pips.

aaaaaaaaaaaaahhhhhhhhhh, still very bad!
dreams do come true.
  • #7,209
  • Aug 19, 2009 1:18pm Aug 19, 2009 1:18pm
Quoting wannaberich
Dear Frankenpip,

i really believe my biggest mistake is just... lack of patience. once i close a trade (good or bad) my brain always finds some kind of reasoning to get in the market at the very next signal.
Yes, trading can be very fun, almost like a video game. Having money to play with is even more fun so try and resist every signal. These types of characteristics define what type of trader you will become, so use them, even though deemed negative at this point. Sounds like you are built to be a scalper if you always want to be jumping in and out.
Q
The Only Constant Is Change!
  • #7,210
  • Aug 19, 2009 1:24pm Aug 19, 2009 1:24pm
Surely the velocity of the PA is very simple to see?

Did someone recently post an indi that shows the time the renko bar closed?

If so all that is needed at the point of a signal, be it a Chris B or a DX or a manual Edge set up have a look at the close time of the last few renko. If they all closed within the last 1/2/10 Mins then the TRADER can decide if the velocity is sufficient to trade.

It that indi does not exist then it is as simple as when you have chosen which pair to trade open a 5M bar chart and see what the velocity of the move is like.

Is this too simple or have i misunderstood the whole concept? I dont think anything is needed with regards to coders creating new indi's etc. We want it simple don't we? Do we really need a fancy coloured quick glance picture? We can all tell the time cant we ???

Just a thought.
  • #7,211
  • Aug 19, 2009 1:34pm Aug 19, 2009 1:34pm
try scalping for plus 2.5-3's all day with dominant trend, not bad target practice. increase lots, you get your 2%/day quick.
  • #7,212
  • Aug 19, 2009 1:40pm Aug 19, 2009 1:40pm
[quote=Nick'em;2968930]
Quoting Edgetrader


Edge,

Just an observation, Safe re-entry in a long trend just gets my 2% quicker and done for the day.

N
I beg to differ good sir.

Modest trading ability + decent trading plan + FAITH =

One Signal / One Trade

4 standard lots traded on a pair for +5 = $200. That is 2% of a hypothetical $10k account.

Re-entry into a trade is definately not something I promote but I am aware you already know this. The more trades you take, the more risk you expose yourself to.

Regards.
  • #7,213
  • Aug 19, 2009 1:41pm Aug 19, 2009 1:41pm
Quoting darkness
try scalping for plus 2.5-3's all day with dominant trend, not bad target practice. increase lots, you get your 2%/day quick.

LESS IS MORE!!!!!!!

Make sure at +2% one resets, reloads and hits it again.

Regards.
  • #7,214
  • Aug 19, 2009 1:44pm Aug 19, 2009 1:44pm
Quoting wannaberich
if i would have taken the +5 times 2 i would haven't lost those -50 and that would be -83 +50 + 10 = -23 pips.

aaaaaaaaaaaaahhhhhhhhhh, still very bad!
A hole of the day award no bud that would be me if id stop movin my charts in and ou and just sit still i might get some where lol. my favourut was the ej right on th gray line and it was the quikest to the tp line. at least i promus i wont b as rubish tomoro
  • #7,215
  • Aug 19, 2009 1:48pm Aug 19, 2009 1:48pm
Quoting stunna29
Hey Machal,i am trying to download the new version from your site but it won't let me.Any help with this?
Please send me privately your order id. I'll check the database.
  • #7,216
  • Aug 19, 2009 1:58pm Aug 19, 2009 1:58pm
Quoting Edgetrader

Re-entry into a trade is definately not something I promote but I am aware you already know this. The more trades you take, the more risk you expose yourself to.

Regards.
Hi Edge, I've been thinking about this re-entry topic a bit. I noticed in the screenshot preview of your nitro ea that on a few occasions it took two longs or two shorts in a row i.e. re-entered. This also means that it couldn't have been using a trix or momentum cross of the zero level as an entry signal (at least not in every case), because that kind of signal would create a long-short-long-short trading sequence. I presume then that the nitro system you trade manually is different from the system coded into the ea?
Regards,
Matthew
  • #7,217
  • Aug 19, 2009 2:12pm Aug 19, 2009 2:12pm
Hello all,

I purchased the Renko bars, and have done some backtests on them, but since the Renko uses the 1m bars to assimilate, it is not completely accurate. Anyone here know where to get tick data so I can create a historically correct Renko chart? With a close of bar EA, and no crazy indicators, we should be able to get a 99% accurate backtest. Anyone know???

Thanks.....
  • #7,218
  • Aug 19, 2009 2:13pm Aug 19, 2009 2:13pm
Quoting Rbi
Can anyone tell me if they are using a free script for the Renko charting or if the purchased version is the way to go. If anyone has a free script could we post it here. I'll post the one I'm using but i'm not sure it works properly.
Rbi,
Someone posted a better free Renko script on the C4 for poor traders thread.
I sent you a PM with a link to it.

I've asked the same question before, but still no answer yet.
I think because most everyone already made the purchase so did not need or bother to try any others.
  • #7,219
  • Aug 19, 2009 2:20pm Aug 19, 2009 2:20pm
Quoting Edgetrader
LESS IS MORE!!!!!!!

Make sure at +2% one resets, reloads and hits it again.

Regards.
yessir
  • #7,220
  • Aug 19, 2009 2:33pm Aug 19, 2009 2:33pm
Quoting Chris_B
Momentum= Price of this bar - Price of "n" bars ago
Acceleration=Momentum of this bar - Momentum of previous bar

Hi Chris_B:

I never would have figured that one out. Thanks


momentum (pl. (http://en.wikipedia.org/wiki/Plural) momenta; SI (http://en.wikipedia.org/wiki/SI) unit kg (http://en.wikipedia.org/wiki/Kilogram)·m/s (http://en.wikipedia.org/wiki/Meters_per_second), or, equivalently, N (http://en.wikipedia.org/wiki/Newton)·s (http://en.wikipedia.org/wiki/Second)) is the product of the mass (http://en.wikipedia.org/wiki/Mass) and velocity (http://en.wikipedia.org/wiki/Velocity) of an object (p = mv).

acceleration is the change in velocity (http://en.wikipedia.org/wiki/Velocity) over time.

velocity is defined as the rate of change (http://en.wikipedia.org/wiki/Derivative) of position (http://en.wikipedia.org/wiki/Position_vector).

I would have thought that momentum would have a volume component. And acceleration would have something squared.
If you only trade long, then you can't always be wrong.
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