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C4 Scalping

  • #7,221
  • Aug 19, 2009 2:39pm Aug 19, 2009 2:39pm
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.

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...
Hi wannaberich:

Perhaps you need to learn less or unlearn a few things.

The next signal? Of course, you should get in at the next signal. And the next one after that until your daily profit/loss threshold has been reached. Either the signal is valid or you need a different signal. If you are trying to out think the market, the rat will beat you.
If you only trade long, then you can't always be wrong.
  • #7,222
  • Aug 19, 2009 2:53pm Aug 19, 2009 2:53pm
Hi Edgetrader,

Following your instructions below I have spent the last hour trying to purchase a Renko Charting setup via the internet; Google' Yahoo etc and have failed dismally. I would be grateful for a pointer in the right direction. Great thread by the way and looking forward to participating when setup.

"1 - RENKO charting package. ( It is available through several brokerages and can also be purchased from commercial vending sources. A simple internet search will allow you to complete the needed recon to enhance your tools in order to complete your missions."

Many thanks Gerard
  • #7,223
  • Aug 19, 2009 3:06pm Aug 19, 2009 3:06pm
Hi all,

I´m sorry for posting late, but I had a spyware problem!

+23 and shut down! May be Mr. Market strikes back tomorrow...
But today there is another Steak for the Tiger

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  • #7,224
  • Aug 19, 2009 3:11pm Aug 19, 2009 3:11pm
Thanks, Chris

Quoting Chris_B
Momentum= Price of this bar - Price of "n" bars ago OK
Acceleration=Momentum of this bar - Momentum of previous bar OK

Frankenpip:
''velocity is defined as the rate of change of position. Yep
acceleration is the change in velocity over time. '' Yep

So 'momentum' (in finance) is often called ''velocity'' = [(p2-p1)/n] = pips/time, pips/minute, or pips/bar = SLOPE on price chart.

and acceleration is rate of change of slope. Wow, do we care?

Edge, anyone, how is momentum (price slope) and PA judged on a renko chart, please?
  • #7,225
  • Aug 19, 2009 3:20pm Aug 19, 2009 3:20pm
Chris (and DX?)

What I think we need is an indi that shows the degree of slope; 'steepness'.

Steep = good, price is changing, which is exactly what we need, so we can then select the desired amount and use this to make our trading decisions.

I'm not sure the rate-of-change of slope matters as long as we have 'enough'. User's decision.

What do you think?
  • #7,226
  • Aug 19, 2009 3:44pm Aug 19, 2009 3:44pm
I have been away for a few days with no internet access, so I have also been away from C4. I will be reading and catching up on the thread, but the first thing I wanted to do once I was back online was to dive back into trading C4. Although I know we are well outside of our trading window, here are the trades I took today. 8/8...

Glen
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  • #7,227
  • Aug 19, 2009 3:46pm Aug 19, 2009 3:46pm
I am looking for a (BUY and SELL) SL and TP script for use with C4. Stop loss set at 30 and TP set to 15 to accomodate spread.. Or better if i can set the inputs myself. Mx fingers arent fast enough yet
  • #7,228
  • Aug 19, 2009 3:52pm Aug 19, 2009 3:52pm
If you are trying to out think the market, the rat will beat you.[/quote]

Hi Franky,

I totaly agree!
The market accumulates the Feelings and Expectations of many
thousands Participants.
The market is like an animal ! The driving forces are fear and greed !!!
So, you cannot control the market using the logical part of your Brain...
Try to See the PA movement and try to Feel it´s direction...
Try to be emotional...
Try to be a anachronistic Hunter...
And try to flow with the direction of the market !!!

Regards
  • #7,229
  • Aug 19, 2009 3:55pm Aug 19, 2009 3:55pm
Quoting prosperfx
I have been away for a few days with no internet access, so I have also been away from C4. I will be reading and catching up on the thread, but the first thing I wanted to do once I was back online was to dive back into trading C4. Although I know we are well outside of our trading window, here are the trades I took today. 8/8...

Glen
  • #7,230
  • Aug 19, 2009 3:57pm Aug 19, 2009 3:57pm
Quoting rorieu
Frankenpip:
''velocity is defined as the rate of change of position. Yep
acceleration is the change in velocity over time. '' Yep

So 'momentum' (in finance) is often called ''velocity'' = [(p2-p1)/n] = pips/time, pips/minute, or pips/bar = SLOPE on price chart.
Hi rorieu:

P = M*V where P = Momentum.

P = V when M = 1.

To me, equating velocity with momentum is inaccurate.

Nevermind, because we do not need any of this to make money trading.
If you only trade long, then you can't always be wrong.
  • #7,231
  • Aug 19, 2009 3:58pm Aug 19, 2009 3:58pm
Hi Chris..

I really like your chart on post #7198. Can you please post a small zip file with the templates and Indicators that you have outline in the image? I am also using the Renko charts for my setup, but I really like the simplicity and accuracy shown in that image.
Thank you
  • #7,232
  • Aug 19, 2009 4:00pm Aug 19, 2009 4:00pm
Quoting prosperfx
I have been away for a few days with no internet access, so I have also been away from C4. I will be reading and catching up on the thread, but the first thing I wanted to do once I was back online was to dive back into trading C4. Although I know we are well outside of our trading window, here are the trades I took today. 8/8...

Glen
That's great Glen but look at your EURJPY first long trade as an example. You entered that trade at 133.86 and the low before you got out was 2 bars later at 133.64 meaning that your Adverse Excursion is ~22pips before taking 5 pips. It also means that a SL of 20 would have gotten you stopped out. If you time your entries earlier, you could avoid the +20 pip MAE and make your +5 TP quicker. Always ask what your MAE was before taking the 5 pips. Being profitable with a higher MAE will get you in trouble sooner or later. Just a recommendation.
If it backtests good run it live!
  • #7,233
  • Aug 19, 2009 4:10pm Aug 19, 2009 4:10pm
Quoting Toledo
Hi Franky,

I totaly agree!
The market accumulates the Feelings and Expectations of many
thousands Participants.
The market is like an animal ! The driving forces are fear and greed !!!
So, you cannot control the market using the logical part of your Brain...
Try to See the PA movement and try to Feel it´s direction...
Try to be emotional...
Try to be a anachronistic Hunter...
And try to flow with the direction of the market !!!

Regards
Hi Toledo:

Actually, it is a combination of logic and emotion.

At the core are your thoughts and beliefs. Feelings are based on your thoughts or beliefs. Your attitude is based on your feelings. And your behavior is based on your attitude.

All of your trading "training" is at the core. Your subconscious will give you those "gut feelings". When you can accurately identify them, then you will be your own master.
If you only trade long, then you can't always be wrong.
  • #7,234
  • Aug 19, 2009 4:22pm Aug 19, 2009 4:22pm
Quoting FrankenPip
Hi rorieu:

P = M*V where P = Momentum.

P = V when M = 1.

To me, equating velocity with momentum is inaccurate.

Nevermind, because we do not need any of this to make money trading.
Hey Franken

I'm not equating them, just pointing out that price change has nothing to do with 'momentum' it's just 'speed' which shows as slope on the charts and slope is what we live for!

It's just the way the finance world uses the term 'momentum'

I'm very familiar with 'real' momentum in the enginering world.
  • #7,235
  • Aug 19, 2009 4:35pm Aug 19, 2009 4:35pm
Quoting FrankenPip
Hi Toledo:

Actually, it is a combination of logic and emotion.

At the core are your thoughts and beliefs. Feelings are based on your thoughts or beliefs. Your attitude is based on your feelings. And your behavior is based on your attitude.

All of your trading "training" is at the core. Your subconscious will give you those "gut feelings". When you can accurately identify them, then you will be your own master.
Hi Franky,

I think, you misunderstood...
Not my feeling are relevant! The "Tryings" I posted, give you the opportunity to "understand" the movings of the market and the opportunity to "use" this emotional determined movings to make some money !!!
  • #7,236
  • Aug 19, 2009 4:36pm Aug 19, 2009 4:36pm
[quote=Edgetrader;2969253]
Quoting Nick'em

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.
Still thinking in Pips target not £ ($) target. Will need to service my dim brain and remove the cobwebs...

Thanks Edge for your enlightenment.

N
  • #7,237
  • Aug 19, 2009 4:36pm Aug 19, 2009 4:36pm
first i would like to thanks PaulW for being such a healthy competitor (but you have no chance, man; i am a far bigger a**hole than you )

in second place, frankenpip, life is already very hard for me mastering this system. if other people have success with it i can too! besides i am one of those guys that beleive that no system is going to give you perfect signals that you can follow without discernement. if i were to follow always the next signal that would imply that i can follow them all i that is for sure not true. that would also imply that all we would need would be an EA for that perfect system. who am i to say what is true or not about forex but i it all comes down to our decisions, not a system or ea. if you do have a system that i can follow blindly i would be very very gratefull if you could share it with me.

thanks a million for the positive re-inforcement Jazzman. i really need it. it seems that each day i get worse instead of better. thanks, man.

will try the 2.5 - 3, Darkness, but the biggest challenge for me is exactly defining the dominant trend. i have already asked this but wouldn't it be usefull for the thread to discuss our views about this "dominant trend"? meaning what signals to take?

Frankenpip, really loved the sudy aboutt the students and the rat. will for sure never forget that. i completely agree that over-elaborating can be a problem. but when do we get there? when do we get to the "over-"?

i would love to invest my 10 000€ i have set aside and earn 5000$ per month trading. but to do that based on "gut" and feelings... i have a house to pay and 2 beatifull daughters to feed. sure i would love to quit my job where our continusly good results are never apreciated. sure i would love to have a degree of freedom that i never had before. but all this based on "gut"? kind of scares me...

be well, everyone.
dreams do come true.
  • #7,238
  • Aug 19, 2009 4:40pm Aug 19, 2009 4:40pm
Quoting fxspeedster
That's great Glen but look at your EURJPY first long trade as an example....
Thanks for the tip, and agreed completely.
  • #7,239
  • Aug 19, 2009 4:41pm Aug 19, 2009 4:41pm
Watched the PA and the trend line break with a confirmation .. boom 5 pips
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  • #7,240
  • Edited 5:05pm Aug 19, 2009 4:42pm | Edited 5:05pm
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

The best thing we can do is try it for some day and see if it's useful or not...i don't guarantee nothing.
Chris,

Good job dude
I did some comparison visual backtesting for the last 4 days (FxPro feed, trading from GMT 6:00 to 16:00)---->
Out of 58 trades the new indicator had 17 more successes than DX arrows [IMPORTANT NOTE: I considered a signal only after the close of the bar to be able to compare with DX, so in fact the new indicator will have more successes if somebody took all signals. Of course, we can't backtest wins or losses in cases where there was a signal and then dissapeared]
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