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C4 Scalping

  • #7,381
  • Aug 20, 2009 6:06pm Aug 20, 2009 6:06pm
First my thanks to Edgetrader, Dx , Chris and many other contributors-- this thread has been a pleasure to follow.

I have been happily training on C4 and have decieded to take the next step and set up Nitro. In comparing my charts to some posted I realized that on my charts the first brick in a direction change is not changing color as on charts posted.

I am assuming this is not an anchor input issue as the bricks themselves look the same. I am using the Sm C4 Scalper candles_V3 overlayed with 2,1,1,1 settings.

I have included a chart showing some of the candles in question. Any help would be greatly appreciated.
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  • #7,382
  • Aug 20, 2009 6:22pm Aug 20, 2009 6:22pm
Quoting fratelli
HI DXTRADE

Thanks for all your hard work here.

I tryed out your new Dashboard with SMI

For some reason when I put it up on chart, I get
A bad smiley where the text sell,buy,wait comes.
Shortly after that goes away again and its just blac there and not showing the text sell,buy,wait.

Do you have an Idea what I do wrong.

Excuse myEnglish

Peter
Might be this:
If a brick closes with an arrow, at the open of the next brick you will see BUY/SELL. But if during this brick PA goes the wrong way and MA or Trix or Mom or all are changing color, the it gets black as there is no way to code a WAIT in these conditions. Too many variables to consider for a WAIT in this case.
"The only successful substitute for brains is silence."
  • #7,383
  • Aug 20, 2009 6:29pm Aug 20, 2009 6:29pm
A bit late, but I had limited trading time today, had some other work to do but managed to slide into place just in time to catch some beautiful momentum in EY GY AY +7 +8 +7

Glad to see some negativity has left the thread
This takes constant practice but the rewards are amazing....
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******************* I'd rather make money than be right.
  • #7,384
  • Aug 20, 2009 6:41pm Aug 20, 2009 6:41pm
Alright so here are the results.

I did 4 live trades today and got my 23 pips for the day. I picked up all these when I was working

So happy. The main thing I would recommend people is just be patient with this system. Its really good. Remember its a 5 minute method so dont panic if the price goes down for a bit.

Concentrate on the PA and you will succeed


Thanks so much EdgeTrader
  • #7,385
  • Aug 20, 2009 6:49pm Aug 20, 2009 6:49pm
Quoting Edgetrader
I think my momentum testing pretty much exceeds anything you might have done with your duplicative C4 train station thing.

As it was never an indicator used in C4, not sure why you are showing or trying to incorporate it into a candlestick plan. It has already been proven to be unreliable at best in a short term, lower TF setting.

However, your chart does show a nice PA move above a MA of some sort with strengthening momentum set at 5. Will let you do the back-testing on that and you can let us know how your work is coming along. We are a tad...
HI Edgetrader:

Thanks for responding but you did not answer my questions.

I am not trying to incorporate any indicators at all in my system. I was asking a question about your comments and posted a chart as a reference point.

I do not waste my time back-testing. I am too busy making real money catching the blue line trains (http://www.forexfactory.com/showthread.php?t=188248) which run 24 hours a day.
If you only trade long, then you can't always be wrong.
  • #7,386
  • Aug 20, 2009 7:51pm Aug 20, 2009 7:51pm
Have decided to identify 3 or 4 times during the day when the PA "historically" is likely to move, mainly due to the Stock Markets opening.

Sit on the sidelines until all 4 pairs start their move then choose the pair that meets the criteria, Trix, Momentum, Chris's arrow and break through MA as it changes colour. Not 100% but better than the pin I used to use.

This mornings Tokyo opening. If the set up had not there I would have waited until Frankfurt, then London then New York. I have been looking at these charts long enough over the last few years to be able to say with confidence that if I can sit on my hands until everything lines up I can get in and out with my 4 lots on one 5 pip trade and call it a day.

Only problem being is that I started monitoring this morning at 9:00 am Tokyo time and was finished by 9:08. What do I do for the rest of the day ??? Suppose will have to play around with a sub account for pennies and just practice identifying the sweet spots.

Thanks again Edge, and for those nay-sayers I suggest they move on to greener pastures if they can find them and leave us bovines here to graze steadily on the type of grass that suits our herd and fatten ourselves up.

Enjoy your weekend

Dave W
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  • #7,387
  • Aug 20, 2009 7:59pm Aug 20, 2009 7:59pm
Quoting DaveW
Have decided to identify 3 or 4 times during the day when the PA "historically" is likely to move, mainly due to the Stock Markets opening.

Sit on the sidelines until all 4 pairs start their move then choose the pair that meets the criteria, Trix, Momentum, Chris's arrow and break through MA as it changes colour. Not 100% but better than the pin I used to use.

This mornings Tokyo opening. If the set up had not there I would have waited until Frankfurt, then London then New York. I have been looking at these charts long enough over the last...
What can I do to help?

I took you eight whole minutes to complete something clearly intended to be completed in seven.

I would think the balance of the 24 hour clock would have best been used in personal reflection on your tardiness in completing the task at hand more expediciously.

More training is apparently needed here.

Excellent effort though. Glad to be of some assistance.

Regards.
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  • #7,388
  • Aug 20, 2009 8:00pm Aug 20, 2009 8:00pm
I would appreciate some advice regarding the Momentum indicator(s). As it is a critical element of the startegy, I have been trying to determine how to interpret the indi.

I have always thought if MOM was rising, then momentum was increasing - necessary for buy or sell. If however, MOM was falling, then momentum was dropping off and so not a good trading time. This is not obvious from postings in the thread - particularly Edge's posts.

Am I correct in assuming that if the MOM (4) is above the 100 line, PA is bullish and opposite for bearish. Is it also correct to assume that if there is good momentum for a bullish trade, then MOM should be rising above 100 line and vice verca for sell?
  • #7,389
  • Aug 20, 2009 8:04pm Aug 20, 2009 8:04pm
Quoting fxspeedster
Edge,
In defense of Doc I will say that just like me he decided to use the method that suits him best. Some traders like the candles and some others prefer Renko. There are positives and negatives with both and neither are wrong to use. Whichever way you can squeeze the pips out of the market is the right way. Renko and Nitro seems to be the rule on this forum (at the moment) not the exception. The candle traders are far and few between. Personally I like seeing the PA the way the market shapes it and go along for the ride. Whatever tickles you...
Doc was welcome to trade anything he wished, as is anyone else.

However, he has neither the experience trading MT4 Nitro nor any other form of such to sit in judgment of it. If one does not like the plan let it go.

Opinions are fine, but they need to be informed. Ramblings by a disgruntled individual are pointless.
  • #7,390
  • Aug 20, 2009 8:04pm Aug 20, 2009 8:04pm
DX, I asked earlier about the EA - which I would like to try - not as an auto system but as an alert. When you posted the EA, one of the conditions was that it be demo on an M3 chart. I asked if this was a typo and wondered if you meant M2 Offline (as we have all been using for Renko). Sorry to be a pest but I haven't got it working on M2 but do not know how to get M3 for Renko.
  • #7,391
  • Aug 20, 2009 8:07pm Aug 20, 2009 8:07pm
Quoting scartree
I would appreciate some advice regarding the Momentum indicator(s). As it is a critical element of the startegy, I have been trying to determine how to interpret the indi.

I have always thought if MOM was rising, then momentum was increasing - necessary for buy or sell. If however, MOM was falling, then momentum was dropping off and so not a good trading time. This is not obvious from postings in the thread - particularly Edge's posts.

Am I correct in assuming that if the MOM (4) is above the 100 line, PA is bullish and opposite for bearish....
I have never said anything to the contrary. I only set forth the momentum indi set at 4 for MT4 Nitro. Was that difficult to interpret? It crosses a 100 line. Up = long, down = short. Care to isolate something in particular?
  • #7,392
  • Aug 20, 2009 8:07pm Aug 20, 2009 8:07pm
Quoting Edgetrader
Sure I did, you just did not like the answer.

While you do not waste your time back-testing, I choose to not waste my own time on the ignorant questions of a thief.

Please do not promote your thread in this thread again. The original material is well known to have been stolen by you to begin with. And you are stupid enough to come back to the seen of the crime and ask about momentum!

Back to your playroom and your trains youngster.
Hey Mate, those are some harsh words you lobbed at FrankenPip. He said he got his train idea from a comment that I posted. He's not using any indicators on his charts so what are you claiming he stole? I have been reading both threads and both of you have methods that make money. For a "monster" he doesn't seem to be a bad bloke. Maybe, you two can mend some fences.
  • #7,393
  • Aug 20, 2009 8:10pm Aug 20, 2009 8:10pm
+3% for the day. done and done. target hit, repeat in morning.
  • #7,394
  • Aug 20, 2009 8:14pm Aug 20, 2009 8:14pm
Doc, if the TS trading profile you posted earlier (the removed one) was accurate, it appears you are making money with this approach. Is that not the purpose of this exercise?

Considering oneself right, or wrong, should not be a consideration. This playing field revolves around money gained. Relax.
  • #7,395
  • Aug 20, 2009 8:20pm Aug 20, 2009 8:20pm
Thanks Edge - you confirmed what is apparent from your charts. Simple but different to what I had (obviously mistakenly) thought. No problem.

Is it likely that the higher the MOM, the stronger the trend. I am trying to see the correlation between your larger pip trades and the MOM action. It seems that the indi moving into high ground has helped the decision to raise the stakes.
  • #7,396
  • Aug 20, 2009 8:28pm Aug 20, 2009 8:28pm
Quoting scartree
DX, I asked earlier about the EA - which I would like to try - not as an auto system but as an alert. When you posted the EA, one of the conditions was that it be demo on an M3 chart. I asked if this was a typo and wondered if you meant M2 Offline (as we have all been using for Renko). Sorry to be a pest but I haven't got it working on M2 but do not know how to get M3 for Renko.
When you attach the Renko EA/Script to your M1 chart just set the Period to 3 instead of 2... then you will have a M3 offline chart which will look exactly the same as the M2
"The only successful substitute for brains is silence."
  • #7,397
  • Aug 20, 2009 8:37pm Aug 20, 2009 8:37pm
Quoting Edgetrader
What can I do to help?

I took you eight whole minutes to complete something clearly intended to be completed in seven.

I would think the balance of the 24 hour clock would have best been used in personal reflection on your tardiness in completing the task at hand more expediciously.

More training is apparently needed here.
HAHAHAHAH!!!!
  • #7,398
  • Aug 20, 2009 8:41pm Aug 20, 2009 8:41pm
Quoting scartree
Thanks Edge - you confirmed what is apparent from your charts. Simple but different to what I had (obviously mistakenly) thought. No problem.

Is it likely that the higher the MOM, the stronger the trend. I am trying to see the correlation between your larger pip trades and the MOM action. It seems that the indi moving into high ground has helped the decision to raise the stakes.
The EY and GY are easily capable of moving through their spreads and allowing a few more pips to be had. However, as mentioned in a posting this morning, my pip count is inconsequential to the goals of the thread. It is simply a reflection of how easy it can be to get to preset goals when decent momentum is present.

As with any live 'line' indicator, if pointing up or down and PA is moving quickly, strength is present. Almost like a simple stoch or rsi indi.

Regards.
  • #7,399
  • Aug 20, 2009 8:44pm Aug 20, 2009 8:44pm
Quoting Edgetrader
That was by no means harsh. Simple truth.

Said he got the idea from you? I have not seen anything from him that represents anything close to being original on his behalf. The train thing was already discussed previous to today.

Where do you suppose the name of his thread came from. Does he admit to even asking to use the name?

I posted on his thread that I was willing to help and had no ill will. I am not the one promoting my thread on others threads, and antagonizing others in threads other than his own. This is...
According to post #1 of FrankenPip's thread:

C4 Scalping - without having to pay for indicators

Please do not be offended by my post here. I thought it better to not post in Edgetrader's thread out of respect for his excellant presentation of C4 Scalping.

I read the entire C4 Scalping thread and it morphed into Nitro somewhere in the middle and that means you have to buy Renko indicators. Something about that doesn't feel right to me. First everything is available to download then like a "bait and switch" you have to get something other than what you came for in the first place. No offense to Edgetrader, but I don't think I am alone in feeling this way. Each trader must decide what feels right to them.
<end>

Looks like he explained the reason he started a separate thread which was out of respect for you. Apparently, he wanted no rift with you. I can't speak for the others but if they are antagonized over his posts how can they expect to trade with a cool head? Letting someone in a forum get your knickers in a twist is bloody stupid.
  • #7,400
  • Aug 20, 2009 9:05pm Aug 20, 2009 9:05pm
Thank you both - Edge and DX

Dx - I tried that but it did not work as when I went to the Offline list the M3 did not appear. Obviously I did not do it correctly and I will try again.

Regards Karl
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