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C4 Scalping

  • #7,461
  • Aug 21, 2009 9:02am Aug 21, 2009 9:02am
For those who don't like to trade around news times..........

Watch what happens every day when important news are released....

Is one of the best and easy times to make 5 pips fast...very fast...too fast...

Watch what has happened some minutes ago...all moving slow until news time...and then...boom...

Is it really too difficult to see PA moving?
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Market is like a puzzle, YOU have to fit the pieces!!
  • #7,462
  • Aug 21, 2009 9:04am Aug 21, 2009 9:04am
Everybody runs their business whichever way it suits them. However a demo account is simply to practice your skills and do as many trades as possible to become as proficient as you can. On a real account it is perfectly understandable to stop at 2% for the day but why stop on a demo account and be "done for the day"? We should see here lots of posted statement with hundreds upon hundreds of continuous trades on a single demo account and be able to exchange ideas mainly money management such as stop loss placement. This would really open up the thread and make all of us most comfortable with the concept whether it is C4 or Nitro.
If it backtests good run it live!
  • #7,463
  • Aug 21, 2009 9:16am Aug 21, 2009 9:16am
Quoting fxspeedster
Everybody runs their business whichever way it suits them. However a demo account is simply to practice your skills and do as many trades as possible to become as proficient as you can. On a real account it is perfectly understandable to stop at 2% for the day but why stop on a demo account and be "done for the day"? We should see here lots of posted statement with hundreds upon hundreds of continuous trades on a single demo account and be able to exchange ideas mainly money management such as stop loss placement. This would really open up...
I respectfully disagree,


Yes, a demo account is to practice your skills and refine your trading plan. In the beginning take all the trades you can to become proficient at identifying setups, PA, etc.

However, once you become more proficient, your mind needs to be trained.

That comes from doing things ( in demo ) exactly as you would do them in a live account.

Why would you train your mind to take every signal, Then go live and think you can instantly trade only the good signals without any practice or training in doing such?

just my opinion

+5 x4 lots and done for the day ( charts to follow)
  • #7,464
  • Aug 21, 2009 9:17am Aug 21, 2009 9:17am
Quoting roto7gl
I respectfully disagree,


Yes, a demo account is to practice your skills and refine your trading plan. In the beginning take all the trades you can to become proficient at identifying setups, PA, etc.

However, once you become more proficient, your mind needs to be trained.

That comes from doing things ( in demo ) exactly as you would do them in a live account.

Why would you train your mind to take every signal, Then go live and think you can instantly trade only the good signals without any practice or training in doing such?

just my...
I agree with you 100%
The signals are not the problem...mind training is what we need to focus on..
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,465
  • Aug 21, 2009 9:18am Aug 21, 2009 9:18am
Even watching the test cricet (England v Australia) could not distract me from this trade!! Way to go...!!
  • #7,466
  • Aug 21, 2009 9:21am Aug 21, 2009 9:21am
OOPS - chart shot didn't attach - sorry - try again
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  • #7,467
  • Aug 21, 2009 9:23am Aug 21, 2009 9:23am
if you look at the exact time i sold there were 3 pairs negative momentum was below 100 primer red signal came push the plunger and... boooomm in my face...

for what Chris just wrote might have been the news...

also it is true that it went down, just not enough to cover the +5+spread.

anyway you can see afterwards my first nitro wining trade. hurraaaaa!

well can't say i am that happy...


got to keep fighting. got to keep looking for those pips in the middle of the bricks.

good pipping every one
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dreams do come true.
  • #7,468
  • Aug 21, 2009 9:24am Aug 21, 2009 9:24am
As Chris has already noted this is almost a free trade, Just had to wait for the Oanda spreads to return to normal (1 min ) then Boom Boom.
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  • #7,469
  • Aug 21, 2009 9:26am Aug 21, 2009 9:26am
Quoting wannaberich
if you look at the exact time i sold there were 3 pairs negative momentum was below 100 primer red signal came push the plunger and... boooomm in my face...

for what Chris just wrote might have been the news...

also it is true that it went down, just not enough to cover the +5+spread.

anyway you can see afterwards my first nitro wining trade. hurraaaaa!

well can't say i am that happy...


got to keep fighting. got to keep looking for those pips in the middle of the bricks.

good pipping every one
Today was almost an UP day..i would have searched for longs...not shorts... conservative approach...but always more probabilities in favour...

And then...is better to trade after the big news...not before...
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,470
  • Aug 21, 2009 9:27am Aug 21, 2009 9:27am
Quoting roto7gl
I respectfully disagree,


Yes, a demo account is to practice your skills and refine your trading plan. In the beginning take all the trades you can to become proficient at identifying setups, PA, etc.

However, once you become more proficient, your mind needs to be trained.

That comes from doing things ( in demo ) exactly as you would do them in a live account.

Why would you train your mind to take every signal, Then go live and think you can instantly trade only the good signals without any practice or training in doing such?

just my opinion

+5...
A good analogy would be how soldiers train. They simply don't shoot the rifle a couple of times a day then take the day off and say "yeah I am now ready to go and fight". They train around the clock under a rigorous regimen. When they are called into action.. yes they may shoot their rifle few times as required and hit their target but nevertheless they are well fit to aim and shoot accurately based on thousand of hours or practice.
If it backtests good run it live!
  • #7,471
  • Aug 21, 2009 9:35am Aug 21, 2009 9:35am
Quoting fxspeedster
A good analogy would be how soldiers train. They simply don't shoot the rifle a couple of times a day then take the day off and say "yeah I am now ready to go and fight". They train around the clock under a rigorous regimen. When they are called into action.. yes they may shoot their rifle few times as required and hit their target but nevertheless they are well fit to aim and shoot accurately based on thousand of hours or practice.
They are training to fight, Not to be a sniper. The sniper training requires much more mental discipline
  • #7,472
  • Aug 21, 2009 9:46am Aug 21, 2009 9:46am
Quoting fxspeedster
Everybody runs their business whichever way it suits them. However a demo account is simply to practice your skills and do as many trades as possible to become as proficient as you can. On a real account it is perfectly understandable to stop at 2% for the day but why stop on a demo account and be "done for the day"? We should see here lots of posted statement with hundreds upon hundreds of continuous trades on a single demo account and be able to exchange ideas mainly money management such as stop loss placement. This would really open up...
You are not supposed to stop trading while on demo. Hit the target, reset and go again as your personal time allows. We are not here to exchange ideas at all. We are here to trade either plan presented or not, simple and direct. Am not interested at all in opening up the thread to debate over C4 or Nitro. C4 was a PA observation training tool that just happens to be able to stand alone and be utilized as a trading plan by those who wish to use it as such.

Any debate currently ongoing ends this weekend permanently from my perspective.

Posting on this is coming very shortly.

Regards.
  • #7,473
  • Aug 21, 2009 9:47am Aug 21, 2009 9:47am
Here are my trades for today so far. Everything looks good right?
Am I content with the performance? Perhaps
Am I ready to go live? NO
Do I have enough trades under my belt to feel comfortable? NO

Still have a LONG way to go. When I see 20-40 profitable trades every day without the SL being hit to drain the account for at least 2 months in a row, I may think about going live. But for now I am simply taking advantage of the luxury of the demo account to hone my skills. I know well that I don't have the option of a Reset button for a live account. So I try to be consistent and learn the skills as much as possible before going live.
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If it backtests good run it live!
  • #7,474
  • Aug 21, 2009 9:49am Aug 21, 2009 9:49am
Quoting SusanD
My daughter and I spent the summer reading over and over and watching videos of a famous trader.

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



This has been a great edition to a long journey.

Repectfully
I agree with what Susan states here. It will not happen today, however, as time goes by those working the MT4 Nitro plan will come to this realization also. The more screen time you can avail yourself of, the more you will become used to these bricks which provide a bit smoother overall look at the market PA.

This is the same thing you dealt with when first starting with bar or candlestick charts. Took a while to figure out your way there also.

There have been some good postings in the last 8 hours.

A little while back, I ran a small exercise whereas a few traders having some difficulty were asked to remove all indicators from their charts with the exception of the SM Scalper candle overlay on the MT4 Renko bricks. Perhaps we should consider at least a partial effort at that again. It really does simplify things, especially if you have faith in the Trix indi as a tried and true gage of overall PA momentum.

I always asked for anyone to bring forth an indi that would outperform Trix. Unless I missed something, nothing to date has done so. While I do like looking at the 'mom' set at 4 on the screen, I am not sure that it serves anything other than to appease internal conflicts with regards to trading pure PA. I can assure you that it is a MT4 demon that has me do this. Have been with this platform less time than many of you and have my own trust issues to deal with regarding such.

Interesting note by DXTrade earlier. Has abandoned efforts at the ea for the thread. Again, it was I who a week ago challenged the quasi-techies to see if they could come up with something for the MT4 based predominantly on momentum. Was not an easy task. On the plus side, he is VERY comfortable trading his meter as set. I will not presume to debate how he trades. He has certainly earned his right to trade the MT4 Nitro adaptation as he deems prudent.

Same goes for Chris also. In his post he mentions that he actually traded more in line with watching PA and understanding how it was rapidly moving at a particular time and traded this movement accordingly. How in the hell am I possibly going to find fault with someone trading PA as opposed to a mechanical indicator? Carry on young man!

And Dave W, that sure was a good posting. Been sitting in the back of the bus a bit and pretty much made his voice heard loud and clear. And I particularly like the big picture correlation rhetoric. You simply will not go wrong to often by trading with not only a currency dominant pair, but the ENTIRE market overall direction. Thanks for a 'archive' effort there.

Was disappointed in the comments of both 'Doc' and 'FrankenPip' yesterday. I did some verbal sparring with each and then decided to terminate their posting abilities within this thread. I have a tendency to engage in these jousts far more than I should. Has always been a fault of mine. Regardless, I thought it best for the thread to take the action as I felt it was becoming too disruptive. Right or wrong, am going to stick to the decision. Have let others make their comments on such, but that time is past. Time to let it go. Have deleted many of my own posting in regards to these as an effort to quickly bury the past and move forward.

I really do not care if this thread has 5 or 500 followers. There exists a steadfast core group of posters and a plethora of others posting various commentary. The trading plan is now MT4 NITRO. I am through with the C4 training materials as everyone past, present and future has adequate information to trade such as they deem appropriate.

It would be best for all to either transition to this over the weekend or work on a candlestick trading plan of their choosing elsewhere. Plenty of threads offer such. I am a HUGE FAN of NITRO and am going to promote it exclusively. That means that it is not the best idea for anyone to attempt to throw focus off of this plan with the usual unsubstantiated personal comparison rhetoric. If you want to trade the plan fine. Lets see those efforts. I you do not, that is also fine. Simply visit the thread as you wish but please refrain from posting.

There have been several lately whining about my not releasing my own Nitro trading plan to the FF public. First off, a tremendous amount of work has been done in a short period to come up with a working model for MT4 platforms that duplicates its operation.

Are we at a point where you think MT4 is adequate to carry on these efforts?
If so, what would you gain by my providing it?
If not, what do you feel my model provides that you do not have already?

Probably best to just do the new thread this weekend in order to avoid confusion so look for that option.

Regards.
  • #7,475
  • Aug 21, 2009 9:49am Aug 21, 2009 9:49am
Quoting fxspeedster
A good analogy would be how soldiers train. They simply don't shoot the rifle a couple of times a day then take the day off and say "yeah I am now ready to go and fight". They train around the clock under a rigorous regimen. When they are called into action.. yes they may shoot their rifle few times as required and hit their target but nevertheless they are well fit to aim and shoot accurately based on thousand of hours or practice.
I get your point, in my opinion instead of hitting dozens of trades a day it would be better to have dozens of days hitting your 2% target and walking away a winner.

Imo, trading is a game of personal mastery, mainly emotional mastery. I don't know how many people you know that you would regard as masters, but I know very few. A lot of looooooosers out there lol.
  • #7,476
  • Aug 21, 2009 10:03am Aug 21, 2009 10:03am
Quoting happyhappy
I get your point, in my opinion instead of hitting dozens of trades a day it would be better to have dozens of days hitting your 2% target and walking away a winner.

Imo, trading is a game of personal mastery, mainly emotional mastery. I don't know how many people you know that you would regard as masters, but I know very few. A lot of looooooosers out there lol.
That sounds like a good plan too as long as the demo account stays the same and the trades statement reflects continuous activity. As I said everybody does it the way that it suits them best
If it backtests good run it live!
  • #7,477
  • Aug 21, 2009 10:10am Aug 21, 2009 10:10am
Quoting Edgetrader

Same goes for Chris also. In his post he mentions that he actually traded more in line with watching PA and understanding how it was rapidly moving at a particular time and traded this movement accordingly. How in the hell am I possibly going to find fault with someone trading PA as opposed to a mechanical indicator? Carry on young man!

Probably best to just do the new thread this weekend in order to avoid confusion so look for that option.

Regards.
Thanks for your words...i'm really at a point where I never tought to get...thanks to you!!
And I know that i can become more more more proficient with day after day efforts...the road is long...

I've traded for years stocks and options with mixed results...more bad results that good ones...and now for the 1st time in my life i really believe in trading and i believe in myself ability to learn and to do this...

Waiting ansious for the new thread...

Market is like a puzzle, YOU have to fit the pieces!!
  • #7,478
  • Aug 21, 2009 10:13am Aug 21, 2009 10:13am
Chris
Can you be so kind an explain about the acceleration arrows .
When they appear . You mention some kind of relation between acceleration and momentum .
Can you develop this point pls .
Can we "expect" to see them according to any pattern in Mom(4) , eg. if value stay above/bellow a certain level .Do you personally feel it's a safer entry when you see an acceleration arrow than a 0 line cross ?
Do you look at them as re-entry possibilities .
Tks
David
  • #7,479
  • Aug 21, 2009 10:26am Aug 21, 2009 10:26am
I only traded the EJ today. My first trade was in the Asian session and I didn't even have time to set a stop loss and profit target. The price action was moving so quickly that I simply closed it with a 13 pip profit. Three of my trades were during the European Session of which two were in the market less than a minute each before they hit my profit target. The other one I got out of before it hit my profit target because I saw that price action suddenly stopped and fortunately I got out because the price reversed direction. My next trade I got in on good price action, with a good signal but it immediately reversed direction. Since it was made with the prevailing trend at the time I let it run to its conclusion which unfortunately was a loss. I also entered one trade just before the news as a pending order in the up direction as all indications were that if the news was good the price would move up.

As it was, the losing trade was the only trade which was in the market more than one minute.

Have a good weekend all.
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4XTrader2
  • #7,480
  • Aug 21, 2009 10:36am Aug 21, 2009 10:36am
Quoting david4u
Chris
Can you be so kind an explain about the acceleration arrows .
When they appear . You mention some kind of relation between acceleration and momentum .
Can you develop this point pls .
Can we "expect" to see them according to any pattern in Mom(4) , eg. if value stay above/bellow a certain level .Do you personally feel it's a safer entry when you see an acceleration arrow than a 0 line cross ?
Do you look at them as re-entry possibilities .
Tks
David
Technically speaking....
An acceleration arrow appears when momentum is for example positive, and acceleration crosses from negative to positive....and viceversa for shorts..

Trading speaking...
An arrow is just an arrow...and tells you what PA has already done...or is doing....an arrow can't predict the future...

Instead of believe 100% in arrows...i can advice you to believe in what PA is doing...
This will take some days of your life...watching your monitor...and understanding "when" PA moves and how it moves...
Market is like a puzzle, YOU have to fit the pieces!!
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