C4 Scalping

That's my 20 pips for the day.

oh ok u talking about MOM 4 crossing Zero (100)

I post this in reply to fxspeedster's post...not to show "how i'm good" because 8 days are nothing and i'm not feeling so good for now...but to show all folks that don't trust in the success of the strategy what is possible with Nitro...

This is my last 8 days statement, you can see the profit curve and you can see the important data of the report...
16 wins in a row and only 1 loss in a row...with near to 92% hit rate...

Excellent work Chris_B. I've been following your posts with interest.

I have been trading for a number of years, tried everything from ForexisEasy, through James 16, Currency Baskets, correlation trading, the works. Been here on FF for a number of years hoping that someone would reveal that combination of indicators which would prove to be the "Real Deal".

I have followed this thread from it's first beginnings with Paulus until I reached today when finally the penny dropped.

I have been posting my trades (mainly Asian as I live in Tokyo) and have been spending some time going back identifying the times of day when trending moves are likely to occur, market opening etc. I thought maybe it was simply a case of trading the first arrow after the opening of the stock markets. However, I discovered that life (trading) is not that simple. Somedays it worked, some days it didn't so at first glance it seemed to be an exercise in futility. However, I did notice that once the first flurry of decision making in the worlds financial capitals was complete then the pattern would emerge with all 4 pairs moving up/down together and all that was required was the patience to sit and watch for it to happen The Usd/Jpy tends to be the laggard, the other three taking the lead.

I have noticed this attitude percolating down through the ranks, Edge, Gleneagles, Chris B, DX to name a few. The countless hours spent checking every new indicator and combination thereof seems to have borne fruit. It has shown that the only believable indicator on the screen is Price Action. If the price is moving and has momentum behind it then 5 pips is not difficult. Certainly the Trix and Momentum (4) give the heads up that the price will move but for a successful trade we need the PA to move rather than to assume that because there is an arrow on a certain brick then the price will go a pre-determined direction.

We need only look back at the trades that have been posted, the agonizing as to WHY, when an UP arrow was painted he price then decided to go down. Compare that with the trades posted where all 4 pairs start moving up/down together and the quick 5 pips are extracted.

As Edge keeps stressing "Less is More" and whether you go for 4 x 5 pips with 1 unit per trade or 1 x 5 pips with 4 units if you can exercise a little patience and commonsense ( do not trade 30 seconds before NFP or Buy 2 pip below the historic high price, etc.) then it is not difficult. However, the caveat to that is you need to actually TRADE and not blindly follow signals from an arrow or cross on the chart. Every trader is different and the hangups of the past (fibs, divergence, Support and Resistance) are very hard to let go of. However, think about it, if these things worked why are you here. Why are all the drop in visitors from other threads here if those systems promoted by other threads were working and they were successfully raking in the pips.

This is the first thread I have been involved in where the original concept has morphed into something completely different. Edge has been patiently waiting for the members of this thread to find their own way and I think that certain people have finally got it.

If the readers of this thread wish to trade as a hobby then that is fine, but believe me, if I can earn a reasonable living from this business by watching my screen for 8 mins whilst I am having my morning coffee that is fine. If I want to continue during the day to put some jam on the bread and butter that would also be fine. However, by compounding my account, that is not necessary.

Hope my ramblings have helped.

Dave W

hay guys
been on this thread since day 1 and have had a great run using c4 and a 1 trade a day for about 3 weeks have now got renko as is the progression
and am now demoing it with great sucess

just like to thank all the guys who have contributed to this thread
please stay strong

im sure anyone who has followed and traded these methods any which way they want will be making money and thats all that counts

Amen to that, brother. He *immediately* went on my ignore list!

From day 1 of this thread, I have been a follower of this method of short term scalping.
I have been a trader for many years in the stock market and I am trying to wrap my my mind around this new to me investment vehicle (forex).
This thread initiated bt Edgetrader as been a great experience for me plus the contribution by many of the other posters.

There has been a few times when the the quality of the posts have been dragged down by a few posters but overall the page views indicate that this thread is much in demand.

I am at the point where I am seriously considering a move up to the Renko bricks method of investing. This will be a entirely new concept for me as I have spent years getting to understand the candle concept of technical analysis.

Thanks all, looking to move forward with help and guidance from the members to add pips to my basket.

For those of us who have been through the Paulus thread and all of the 7K posts of this thread, we are well aware of the distractions which have come and gone over the relatively short life of this thread. I for one am very grateful to Edge for his leadership and to DX, Chris, SM and others who have contributed to my education and enjoyment. Edge obviously came to MT4 from a TS background and to some extent has adapted his style and ewxperience to a new environment in which he has also been learning. The development of ideas from very bright people is evidence of what can be achieved by collective effort. I am sure that there are many others who like me cannot add a great deal to the practice of scalping but hopefully will one day be competent traders who can pass learned knowledge to others starting from the base we were at a few short weeks ago and who are also seeking knowledge and skill.

I do not appreciate people coming onto this thread with disruptive efforts to discredit those who have given so freely of their time and experience. I have just exercised my right to use the 'ignore' button.

Thanks Edge and your team of loyal supporters and contributors.

Regards Karl

Most active trading time + momentum + pair correlation = cash

Noted

Actually Fankenpip can change the name of his thread. All he needs to do is press EDIT on his first post then press Go Advanced, then in the top of the edit window he will see his title and he can change it if he wishes.

EDIT: I was wrong about this. The feature has been removed.

Good post Dave. I have demonstrated to myself that PRICE ACTION is King when it comes to making a trade in the market irregardless of signals, bells, whistles, shamans, mantras, etc. Each trade taken today was because of PRICE ACTION and you will see when I post my trades that they are not close to any of the printed signals on the charts. I simply watched and waited for PRICE ACTION to to increase and then jumped in.
My first trade was in the Asian session and I didn't even have time to set a stop loss and profit target. I simply closed it with a 13 pip profit.
Two trades I took during the European Session were in the market less than a minute before they hit my profit target. One trade I got out of before it hit my profit target because I saw that PRICE ACTION suddenly stopped and fortunately I did because the price reversed direction. My next trade I got in on good price action, with a good signal, and it immediately reversed direction. Since it was made with the prevailing trend at the time I let it run to its conclusion. It always boils down to PRICE ACTION for all trades. Learn that and you will have success.

And yes, I am not consistent yet because I have to fight my personal demons and learn to discipline my life and my trades.

Great job Chris! Consistency is the name of the game. Keep up the great work and those pips coming! Thank you for posting your statement.

Cheers

Hi,

Today only 1 trade. Turning off pc and enjoying weekend.

Regards.

My daughter and I spent the summer reading over and over and watching videos of a famous trader.

Even after that we knew we needed more.

The more is directly related to price action I believe.

I think this thread addresses the PA directly and it is great.

No matter how many indicators, EA's etc., if you do not understand PA you will never be successful at this.

I think the people who are trading the Renko candles with no indicators have the best chance.

The market makes the same march over and over and no matter what you use to interpret that, it is doing the same thing over and over.

I have been trying to isolate the pullback in the Renko candle to help you enter after the pullback. Due to have so many charts up, I used the one minute chart that fires the M2 Renk wo do that.

I put HMA color, with bars and Heiken Ashi Smoothe(so my tired eyes pick it up

I used the Trix. Mostly just use C4 on the 1 min.

If I wait for the next candle move I waited for the one minute to pull back against the candle I am waiting to enter and then when it lines up going your candle way, then you can enter.

I put the M1 chart on the M2 chart and mimized it so it sits on the chart in the bottom left corner and just shows the end of the chart so I can see it easily.

Thank you Edge and everyone.

This has been a great edition to a long journey.

Repectfully

Massive thanks to Edge, DX, Chris and others for all your hard work and contributions!

I am a relatively new trader with just over a year of trying everything under the sun to be profitable and now finally thanks to this thread I am feeling very confident and my demo account is going real well. Next month I will go live with full confidence.

You won't see any charts posted by me as I have been intuitively guided to trade nitro/renko in a slightly different way then Edge has shared but it includes all of the same concepts. (Please don't ask cuz I'm not telling.)

The most powerful shifts for me have been: only trading during the London/New York overlap period, setting a profit target and then quitting, only going for 5 pips and being very aware of the greed factor. The latter has been most significant. I put a sign on my wall that says "recognize greed as it arises". I found that after I did a successful trade when all the signals had lined up there would be the voice of greed looking to get into another trade when everything wasn't lighting up, which of course would be a loser most of the time. Now I notice the greed factor and steer clear...

Edge, thank you so much for your intelligence, time and willingness to babysit this thread.

DX and Chris, awesome awesome work on the indis

Ditto, in Spades...

I am improving a lot by trading in the London/US between 9:00 - 11:00 am US eastern, and learning to be patient to wait for the PA to pickup momentum. As soon as i see All or most of the Nitro pairs (at least 3) going strong in the correct direction i pull the plunger and usually close my winner trade in less than a minute. The hard part is to wait patently for the PA to get the momentum needed for success.
I can't say it enough..... Thanks Edge, DX and the rest of the gurus in this thread.

... " (Please don't ask cuz I'm not telling.)"