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Attachments: C4 Scalping
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C4 Scalping

Hey DXTrade...First of all thanks again for all your great efforts...

Quick question....Is there a reason that your great indicator didn't give an arrow and signal for the two white arrows I have put in the chart below?

It gave signal up then continued back downtrend without the arrow and signal...


thanks

Eegle
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Quoting smjones
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...
Thanks for taking the time to stop by and contribute something to this thread. Always good to see those with such a long and distinguished history at FF taking time to review the thread to some extent and provide input.

Gives a spark perhaps to those who are not as seasoned from a trading perspective to know that an occassional visit from FF upper echelon who actually provides something to the thread adds some measure of confidence.

Thankyou.

Highest Regards.
This is slightly embarassing guys and gals. A few pages back I wrote that although I very much liked C4, I didn't rate renko (nitro) very highly. But as I paid 30 euros for it I figured I might as well play with it. I don't know how to put this but I'm making...umm...err... pips. What am I doing wrong? Is it meant to be this easy?

I just had to make the mental adjustment that there was no unfolding time element like normal candles. That was initially getting in the way of being able to perceive PA in a strange kind of way.

Edge, now I understand why you said C4 was a training ground for PA.

I'm ready to eat my words, my hat, but preferably lunch.
+15 im chickenin out now cos its to contrary and it rear a winning day so nice a change
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What just happened with the Yen crosses - I walked away from the computer for 3 minutes and suddenly the trend went nuts...

Looked at news page didn't see much
Old Benjamin was right
impressive, man.

i still have some time to try and beat you but it's going to be difficult today.

also i can always try again tomorrow.

on the serious side:
some good pipping today.
probably will move on to renko following chris post.

he sent me a pm saying "even you can do it, man!" (joking Chris!)
dreams do come true.
Well Im just waiting for my funds to be deposited for a scalping account now. C4 has gotten my attention. Now this is just demo but look at the GY now they do this in micro so 10 is 1 standard lot and made 5 pips but its only worth 5 bucks those cheap ([email protected]). No worries made my 20 Im taking my boys to the park
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[quote=wannaberich;2969622]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 )
hehehe i agree a lot of what your saying if its any consileration i would trust you more then any ea even fturbo to manage the kitty because we even the worst of us i learnt this the long and hard way have a degree of comensence and thats pricless. i put to much faith in eas because lack of selfconfidence in the end i did it my way! and the trend i find that just as difficult especialy today, was slightly disapointed we moved away from the second time frame when we had the 15 minute confirmation still thats a drop in the ocean we can zoom out and thats are trend lots of ways to skin a cat but its the same thing anyway whats important is we stike together
5 times +5
MANUALLY
Done for today ...
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"The only successful substitute for brains is silence."
Paul
I think EA's could work I know that there is one out there. Ive been testing them for about a year now Taking the refund from the failed one and trying a new one. I view it as an employee, if you manage them right then they can make you money but if you do not know enough about forex then how can you manage a forex employee. Then it is really tough to find good help as well.
Just to clarify... got some messages
I will not sell the full version. If it's successful then I will see with Edge how to proceed.
I just put the limitations so you don't kill your account (thanks Cobra ) and you don't use it on a normal chart as it will give you a disaster... trust me, I tried!

Actually... maybe I'll sell it
"The only successful substitute for brains is silence."
Quoting rgontar
Hi FrankenPip,
I support your idea about currency pairs relations and wonder if that indi showing in the right top corner of your chart is available for download? If so, could you provide a link?
Thanks.
No, that's a goodie my IB sent me.
If you only trade long, then you can't always be wrong.
Here's how i do it :

My Daily Pip goal is 30 wonderful good lookin' green Pips in my Bag.

I always set TP +5 ad SL -30P. If i hit this OVERALL SL i stop trading and start the next day again. I simply take this as a Loosing Day.
'Overall' means that if i am after one or more trades in the green zone and i hit a -30SL then there is still room to trade because i still got some pips left for my overall SL -30P. Worst case would be if i hit the -30P with my very first trade of the day,but this didn't happen so far. I would stop trading after that first trade on that day.
With the high hitrate of C4/Nitro i feel pretty secure so far..



Quoting david4u
Hi Chris
Tks for your GREAT contribution . I have 2 Q :
1. I see in post #7141 when you trade 4 lots ...that your preventive SL was 30 pips .That means that in the worst case you will lose
30 pips X 4 lots X $10 = $1,200 .Which represents 12% of you "account".
I know that the SL is just to prevent a disaster BUT , what would you do in that case ? Wait to close your position when the HMA/Trix change color ? What is your SL policy ?
Sometimes the price can move very fast ...
2. The mental part is very difficult . So far I am losing money ...
and...
[/quote]
Quoting nsteve
Hi FrankenPip

No. You were calling an apple a rose. You took a definition of momentum from a different domain (physics, engineering) and incorrectly applied it to technical analysis.

Btw .. according to Martin Pring's On Momentum (available from Amazon) "relative strength" is just another way of depicting momentum.

Before I "ignore" your future posts I suggest, if you wish to instruct newcomers in ways contrary to the often repeated focus of this thread, that you do so on your own thread.

Your often misleading and...
Which came first physics or technical analysis?
If you only trade long, then you can't always be wrong.
Quoting SlushFund
This is slightly embarassing guys and gals. A few pages back I wrote that although I very much liked C4, I didn't rate renko (nitro) very highly. But as I paid 30 euros for it I figured I might as well play with it. I don't know how to put this but I'm making...umm...err... pips. What am I doing wrong? Is it meant to be this easy?

I just had to make the mental adjustment that there was no unfolding time element like normal candles. That was initially getting in the way of being able to perceive PA in a strange kind of way.

Edge, now I understand......
This is just a fact. Eventually, everyone who wishes to trade to their best potential with regards to scalping will transition over into MT4 Nitro. It is unchallenged for smoothing out the rough PA.

C4 is a very good base plan and a decent training aide. As mentioned previously, it can stand alone and be traded as one sees fit. It is extremely versatile as it can be traded on any time frame and accommodates any trading style. Will serve the 'old guard' candlestick traders pretty well as its adaptability alone makes it a worthwhile addition to a traders arsenal.

There will always be those who are set in their ways, stubborn, skeptical or just simply will not believe in themselves, much less a simple trading plan. There is obviously nothing I can do to help in those regards. Again, I knew coming into the FF that only a relative few would find a connection between the methodology and their own trading style and temperament.

As with many threads in FF, they seem to have an ebb and flow to them. You have initial excitement, skepticism follows, indicator envy begins and then some practice trading is initiated that attempts to qualify the trading plan overall. This thread sure has had all of that and more.

MT4 Nitro just seemed to morph out of the 'preview' provided a month ago. This was a dramatic change as compared to many other threads as we then had two viable trading plans operating within one thread. Yeah, sure was causing some confusion to begin with. However, the thread has worked through the chaos pretty well to date.

Anyway, threw a few trades on the MT4 with a larger pip total. Naturally, you should disregard such at this time. Momentum was really picking up just before and a bit after the Philly Fed Manufacturing release. The point of these trades is simply that, when good momentum presents itself, it is not at all difficult to go set a high quality explosive device and derail a train. Especially when you focus on the 'less is more' concept. Just go do your job, do it well and do it with as little emotion as possible.

All my talk about repetition will eventually lead to you doing something over and over again so many times as to build proficiency. That was always a high priority.

However, I see several who want to tinker with this for a week and go 'live' with it. That is YOUR decision. I would only offer this warning to you for consideration. Your perceived proficiency in a short time could be confused with complacency. The later is one of those 'mental' issues you will encounter and need to deal with. Remember this from page one.

[b]What you do need is the time to actually sit and watch a computer terminal for a few hours, an uninterrupted work environment that allows you to focus on the task at hand, and the ability to recognize a very simple trade setup when one presents itself based on the unfolding PA looking you right in the eye. You also need the ability to point a mouse at your order box and press 'Buy" or "Sell" when a decent signal appears. Above all else, you need to be comfortable with and understand the concept of 'Probability Theory' trading. There is ample information available on the internet free of charge to you that will help you gain enlightenment on this concept. The book 'Trading In The Zone' by Mark Douglas is an excellent read if you feel inclined.

Always focus on your business. Guard against complacency. You do not need many hours trading to achieve the goals set forth in this thread. However, those that are spent actively trading in any capacity need to be QUALITY hours.

Regards.
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Quoting Chris_B
7th day in a row...

again..

4 lots...5 pips (6...the PA was very fast)

done and gone...in 3 net seconds...

WHITHOUT ANY INDY ON THE CHART...
Very well done.
If you only trade long, then you can't always be wrong.
I wasn't able to trade the US open but, got 5 pips a little later....x4 lots

2% and done

I am happy!


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Quoting DXTrade
5 times +5
MANUALLY
Done for today ...
Over and over and over and over again.

Almost redundant and borderline BORING.

As mentioned long ago, trading should be boring. The 'excitement' and 'adrenaline' breeds over-trading.

Get your mission assignment, check your gear bag and go to work.

Do the best job you can each and every day.

Remember, you are working with some volatile material. It can really cause you some discomfort if you fail to focus.

Excellent work by you sir. Some fine focus, effort, and results.

Highest Regards.
Quoting roto7gl
I wasn't able to trade the US open but, got 5 pips a little later....x4 lots

2% and done

I am happy!


Attachment 292785
Same as with DXTrade.

Excellent focus, effort and results.

Thread might be diminishing in visitors each day, but there is no doubt the methodology is becoming very clear to some. That is the purpose.

How does that saying go?

You learn and something?

Highest Regards.
Quoting tex
Here's how i do it :

My Daily Pip goal is 30 wonderful good lookin' green Pips in my Bag.

I always set TP +5 ad SL -30P. If i hit this OVERALL SL i stop trading and start the next day again. I simply take this as a Loosing Day.
'Overall' means that if i am after one or more trades in the green zone and i hit a -30SL then there is still room to trade because i still got some pips left for my overall SL -30P. Worst case would be if i hit the -30P with my very first trade of the day,but this didn't happen so far. I would stop trading after that...
[/quote]

Very methodical approach. Am really glad to see a devout FAITH in a trading plan start to develop.

Clearly understands the potential draw-down issue but also clearly understands the high hit rate compensating factor.

Not sure on when exactly your trades are taken, but see that each and every time you have BEGUN trading in a session, the first trade must have been a successful one.

That alone merits some real thought.

Nice Tex.

Highest Regards.
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