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C4 Scalping

  • #7,261
  • Aug 19, 2009 8:45pm Aug 19, 2009 8:45pm
Last 2 trades with +5 each quickly done
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"The only successful substitute for brains is silence."
  • #7,262
  • Aug 19, 2009 9:43pm Aug 19, 2009 9:43pm
Quoting wannaberich

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.
Looks like some ppl have looked over the hint that Edge gave in a few posts. Identify good co-relation PA, chose the best pair setting up, take 4lots on 1 for 5pips = 20 pips. Done for the day.

If you are struggling with 20pips, try getting 5pips every day. If you are aiming for 4 trades to give you 5 pips, you are increasing market exposure for yourself, if you are not totally confident. Just concentrate on getting 5pips initially, and then increase lot size to achieve 2%. Should be possible.

Regards,
K.
  • #7,263
  • Aug 19, 2009 9:52pm Aug 19, 2009 9:52pm
Quoting kermut
Looks like some ppl have looked over the hint that Edge gave in a few posts. Identify good co-relation PA, chose the best pair setting up, take 4lots on 1 for 5pips = 20 pips. Done for the day.

If you are struggling with 20pips, try getting 5pips every day. If you are aiming for 4 trades to give you 5 pips, you are increasing market exposure for yourself, if you are not totally confident. Just concentrate on getting 5pips initially, and then increase lot size to achieve 2%. Should be possible.

Regards,
K.

I agree with this. Better to be really safe then sorry. I am confident I can get winning trads with this system, but I want to try on my demo for 7 days before I go live...just to get the gist of it

Like Edgetrader says...use this as an opportunity to learn the system and also the forex in general
  • #7,264
  • Aug 19, 2009 10:01pm Aug 19, 2009 10:01pm
When attempting to attach this indicator, the Experts tab shows-
"C4_Primer EURJPY, M5: cannot resize the array"
I have all 3 files in Experts/Indicators.
I have shut down and restarted PC and MT4.
Any ideas?
Thanks
  • #7,265
  • Aug 19, 2009 10:24pm Aug 19, 2009 10:24pm
Quoting Edgetrader
. . . As true Nitro was only previewed to the thread, I am going to defer answering any inquiries into its actual setup and operation as related to my own personal trading of such. While I am sure all would like full disclosure on this, that is not in the threads best interest imo. . .
Edge,

You had mentioned earlier that you were going to start a Nitro thread to discuss it. Is that still going to happen?

As I noted in an earlier post, I cannot figure out how to filter the Nitro signals to get any better than 75% wins. I've tried everything that I can think of.

Doc
  • #7,266
  • Aug 19, 2009 10:25pm Aug 19, 2009 10:25pm
Quoting DXTrade
Last 2 trades with +5 each quickly done
These 2 trades look really good DX! You did not encounter any Adverse Excursion at all.. Good timing for sure. Congrats!
If it backtests good run it live!
  • #7,267
  • Aug 19, 2009 10:28pm Aug 19, 2009 10:28pm
[quote=kermut;2970119]Looks like some ppl have looked over the hint that Edge gave in a few posts. Identify good co-relation PA, chose the best pair setting up, take 4lots on 1 for 5pips = 20 pips. Done for the day.

One thing I noticed about the C4 system is that when i picked a great area and less than four were ready to enter all did move in the same manner for the 5. I began with the 4 edge recomended and the same deal but AU spread would jump sometimes with my broker. So I looked for one that could take its place. Lately I have been getting 3-5 on GY during the ny london lap. I replaced AU with GY and have been getting great results.
Look at the red vertical lines showing the first sign for me to trade break of the ma, yes. Next I check PA since we were previously in a down trend have the pairs broke the TL, yes and no for all. Do I have two green candles leading yes for all. So I enter the ones that are yes for all these questions. Now on the next candle the Yen crosses break the TL since I am already in for the EU and GU long I would have entered. This is one of the ways I use all four charts to lead the others. Take a look at the times of the cross of the ma all at 2125
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  • #7,268
  • Aug 19, 2009 11:33pm Aug 19, 2009 11:33pm
Quoting Edgetrader
The trading presented in this thread is simplistic and designed to be long/short in nature to help everyone gain proficiency. This relates to both C4 and Nitro MT4
Hello Edge, do you remember your setups you proposed in paul's thread which included LWMA 14. As soon as I will have access to my working computer I will post a screenshot. For me it works very good when applied to Renko chart. I use it on GBPJPY pair and the only rule to open a position, the same you mentioned in paul's thread Buy above LWMA Sell Below LWMA. As soon as I can see that price crosses LWMA I wait till the brick closes and open trade on the next brick with the same direction. It it easy to earn +5 like this, even + 10. And it seems that using this setup helps to see the bid move and filter small one.
The Road appears under the steps of walking men...
  • #7,269
  • Aug 19, 2009 11:36pm Aug 19, 2009 11:36pm
3rd trade +5 today... missed the short before as I wasn't at my laptop!
Attached Image (click to enlarge)
Click to Enlarge Name: dxtrade.gif Size: 20 KB
"The only successful substitute for brains is silence."
  • #7,270
  • Aug 19, 2009 11:46pm Aug 19, 2009 11:46pm
Quoting DXTrade
3rd trade +5 today... missed the short before as I wasn't at my laptop!
Are those 10 pip bricks?
  • #7,271
  • Aug 19, 2009 11:51pm Aug 19, 2009 11:51pm
Quoting 45Fxguy
Are those 10 pip bricks?
Sure!
"The only successful substitute for brains is silence."
  • #7,272
  • Edited 12:52am Aug 20, 2009 12:07am | Edited 12:52am
I wrote a quick indicator that will sound an alert when a Renko bar closes at a change of direction. It will also put a dot on the swing high and the swing low. It will also draw a line for the most recent support and the most recent resistance. You can turn the alert off if you wish and you can turn the s & r lines off if you wish and you can just color the swing high and low dots NONE if you wish for them not to show. So you can choose any combo of the above that suits you.

Someone asked for an alert when the Renko changed color and this will do that. It is specifically for Renko and will not be accurate on a time based normal chart. I am posting the code if anyone wants to tinker, that is fine.

I also put a BarsDisplayed input to reduce CPU usage . If you enter 0 in that field, all bars are displayed.
Attached File(s)
File Type: mq4 Renko Alert.mq4   5 KB | 867 downloads
  • #7,273
  • Aug 20, 2009 12:27am Aug 20, 2009 12:27am
Quoting DocPMD
Edge,

You had mentioned earlier that you were going to start a Nitro thread to discuss it. Is that still going to happen?

As I noted in an earlier post, I cannot figure out how to filter the Nitro signals to get any better than 75% wins. I've tried everything that I can think of.

Doc
Hey Doc,any system that gives you 75% win rate is great..with proper money manament you should always make money with that system.You will never find a system with a 1oo% strike rate "Never",i know people with system that them 61% win rate and they still make money trading forex.So i think you have a wonderful system just stick with you plan use proper money manament and you will be fine.Good luck trading .
  • #7,274
  • Aug 20, 2009 12:32am Aug 20, 2009 12:32am
Quoting DXTrade
Sure!
Ok, just making sure, looks like something I'd try when the market is ranging, you know much smaller bricks, maybe 3 pips or less. Guess you just have the chart zoom all the way out, which is something I don't do very often.
  • #7,275
  • Aug 20, 2009 1:55am Aug 20, 2009 1:55am
Quoting stunna29
Hey Doc,any system that gives you 75% win rate is great..with proper money manament you should always make money with that system.You will never find a system with a 1oo% strike rate "Never",i know people with system that them 61% win rate and they still make money trading forex.So i think you have a wonderful system just stick with you plan use proper money manament and you will be fine.Good luck trading .
Not when the R/R is 1:4 like it is with Renko.
  • #7,276
  • Aug 20, 2009 2:00am Aug 20, 2009 2:00am
Quoting DXTrade
3rd trade +5 today... missed the short before as I wasn't at my laptop!
Bro DXTrade, you should a DXTrade master, Your DXtrade indi very good could youd upload here? TQ
Gold is Money but Money is not Gold
  • #7,277
  • Aug 20, 2009 2:11am Aug 20, 2009 2:11am
a couple of +5's on e/j this evening. can't seem to let go of those trendlines...
thanks again edge, chris, dx and many other contributors !!
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  • #7,278
  • Aug 20, 2009 2:17am Aug 20, 2009 2:17am
Is that strategy very risky?
  • #7,279
  • Aug 20, 2009 2:35am Aug 20, 2009 2:35am
Quoting cinex
Is that strategy very risky?
Not sure who you were addressing here, but...
I believe every strategy has its' risks and rewards. For me, they get less and less risky once I understand them and practice them. I am still mediocre at scalping with Nitro, but I see it's potential and get better every day.

Try it out on demo for a week and see for yourself.
Mike
  • #7,280
  • Aug 20, 2009 3:11am Aug 20, 2009 3:11am
+6 on e/j. 3 for 3 tonight.
Get some pips everyone!!
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