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C4 Scalping

  • #7,541
  • Edited 4:28pm Aug 22, 2009 2:03pm | Edited 4:28pm
Hi Edgetrader and your crew,

sorry to recognize that C4 is a dieing thread. But as it happened at any time ...

Attached Image (click to enlarge)
Click to Enlarge Name: It's not proven that things get better.gif Size: 30 KB


... it happens even now.

I hope the new thread will improve my trading efforts as much as they did when using C4.

And I hope we will focus our energy on trading - not on insulting words. Let's look foreward to the next level.

Have all a nice weekend.

If there are pips you can collect - just do it!
  • #7,542
  • Aug 22, 2009 2:26pm Aug 22, 2009 2:26pm
Good evening (GTM +1) Ladies and Gentleman !!!

Mr. Edgetrader and Mr. Frankenpip, 50 Situp´s for each !!! It will be helpful to calm down !!! GO !!!

Your Behavioris much more childish than contructive. I´ve read about stolen things and playing with funny Bomb Indicators and much more BS... written by grown up men!

Please gear down both !!!

Remember:
This is a virtual community, where we try to help eachother to survive...
Our Primary Target is Mr. Market, nothing else !!!
And last but not least, Gentlemen, remember some essential tradingrules:
Less Ego !!!
More patience !!!

Ok, what about your Situp´s... Ready for another one...???
  • #7,543
  • Aug 22, 2009 2:51pm Aug 22, 2009 2:51pm
Quoting studbiol
Hi Edgetrader and your crew,

sorry to recognize that C4 is a dieing thread. But as it happened at any time ...

Attachment

... it happens even now.

I hope the new thread will improve my trading efforts as much as they did when using C4.

And I hope we will focus our energy on trading - not on insulting words. Let's look foreward to the next level.

Have all a nice weekend.

Hi,
you think, the C4 tread is a dieing one...? May be, but the C4 Setup is very profitabe! Try it for some weeks before hopping to another...

Schönes Wochenende
  • #7,544
  • Aug 22, 2009 3:44pm Aug 22, 2009 3:44pm
Quoting Toledo
Hi,
you think, the C4 tread is a dieing one...? May be, but the C4 Setup is very profitabe!
is that strategy profitable?
could somebody give a sense how profitable is it, i dont get idea of scalping at all, but its interesting, what can be daily average return/loss?
  • #7,545
  • Aug 22, 2009 3:55pm Aug 22, 2009 3:55pm
Just for fun (I'm addicted), I wanted to do a visual backtest of Renko blocks, specifically when there is just one block formed. The results are kind of interesting although I don't know if it means anything.
These are all approximations...but pretty close.
From August 3rd on EJ there have been 405 changes of direction where at least one 10 tic brick was formed in the opposite direction.
Of those 405 direction changes, 123 were only 1 brick which translates to roughly 30%. This means that if you traded the second brick on every direction change you should win 70% of the time.
Now this is where it gets interesting.
What if you only traded with strength with no other factors involved? No patterns, fibs, no s/r or taking consideration for tops/bottoms etc.
I threw MA 48 on my chart and just traded with the trend. I took every trade that was in the direction of the MA.
Trading with the trend eliminated 63 trades! That brought the losing percentage down to 15% so now we are at 85% winners taking every trade with the trend on the second brick. This is only theoretical of course because the market is so fickle, but it sound pretty good and you dont need ANY indicators on your chart.
Now what if we did the same thing and added momentum and a few other factors like PA. We might be able to get that percentage even higher...at least the probabilities are better.
What do you think...food for thought?
Q
The Only Constant Is Change!
  • #7,546
  • Aug 22, 2009 4:01pm Aug 22, 2009 4:01pm
First actual post to FF. So if I am totally off base - don't flame me - be kind.

I have consumed this thread and was quite impressed. I acquired the RenkoLiveCharts and hooked it into my own EA/Tester setup that i have been using for a long time.

What struck me immediately when I programmed my exit for a 10 pip win ( less is more) is that I was getting out when the trend was just getting going. So I programmed an "always in" strategy and used my own filter/entry/exit logic based on the dynamics of the Renko PA -- which is intensely filtered by its very nature.

The results were great so I went the next step and did a TP on every successful bar. No real difference from the results of riding the trend up or down without getting out or minimally using a 10 pip SL.

My next step was to create a 5pip Renko history chart. My results were even better. I am in a mode of not really believing my results, but am not quite sure as I do not see any issues like an indicator that repaints or an indicator mistakenly looking into the future with [shift-x] bar position.

If you think about it, the Renko chart hides nearly all of the PA dynamics that are in the Time Domain. The most that you have is the 1st and second derivative of the bar formation dynamics. To try to use info from the time domain to make decisions on the Renko chart is counter intuitive since the whole purpose of the Renko chart is to hide the time domain.

I will post my tester results later, but my key results are 52% win rate, win trades are 3 time bigger than lossing trades, Average win is 24pips, Average loss is 8 pips, the total win pips over 1 year are beyond what I blieve is reasonable to expect. So lets say I have 100 trades - 52*24-48*8 = 1248-384 = 864 pips. Over the year, an average trade occurs in less than an hour.

SoOOO - looking at an "always in" stragegy -- worst cast is to look at the last bar and it is an up bar above trigger point so go LONG. Next bar is down bar - whoops - get out of LONG and open short if below trigger point and so on. IE - lose every trade by 5 or 10 pips -- BAD but not very probable. Just look at the populations of the ZigZag pattern, this worse case happens very seldon. The next worse case is a win ( 2 up one down or 2 down and 1 up). The vast majority of trades have 2 or more up with 1 down as an exit or the opposite case. I am writing a script to generate a population analysis of these bar situations.

SoOOO - what am I missing with the Renko approach to trading. I agree with many who say that all that is needed is a single indicator and at this point, I have a great one which is strictly using prior bars for decision making.

Any comments would be appreciated. For anyone who may care, my results were right up there with Edgetrader's published Nitro spreadsheet using GU.
  • #7,547
  • Aug 22, 2009 4:11pm Aug 22, 2009 4:11pm
Quoting JazzmanQ2
Just for fun (I'm addicted), I wanted to do a visual backtest of Renko blocks, specifically when there is just one block formed. The results are kind of interesting although I don't know if it means anything.
These are all approximations...but pretty close.
From August 3rd on EJ there have been 405 changes of direction where at least one 10 tic brick was formed in the opposite direction.
Of those 405 direction changes, 123 were only 1 brick which translates to roughly 30%. This means that if you traded the second brick on every direction change...
Jazzman,

That is very interesting. What would be the next step? Look at how far the next bricks moved to determine the optimal T/P and S/L levels? Or would you still keep the same levels as scalping with C4?

rptrader
  • #7,548
  • Edited 4:47pm Aug 22, 2009 4:28pm | Edited 4:47pm
Quoting JazzmanQ2
Just for fun (I'm addicted), I wanted to do a visual backtest of Renko blocks, specifically when there is just one block formed. The results are kind of interesting although I don't know if it means anything.
These are all approximations...but pretty close.
From August 3rd on EJ there have been 405 changes of direction where at least one 10 tic brick was formed in the opposite direction.
Of those 405 direction changes, 123 were only 1 brick which translates to roughly 30%....
Funny that you mention it, I was looking at a very similar setup this morning. Renko is cool, it's like a whole new ball game, & your all old indis become like new again. Guess that why we shouldn't squawk about Edge introducing nitro, if he hadn't, how long do you think it would have taken us to discover Renko charts on our own?... Maybe never......
  • #7,549
  • Aug 22, 2009 4:46pm Aug 22, 2009 4:46pm
Quoting KingHigh
First actual post to FF....
If you had your PM on think you'd be getting a couple hundred of them by next weekend. Smart guy to turn it off.... compliment not flame.....
Care to share the name of that single indi, or PM me?
  • #7,550
  • Aug 22, 2009 5:01pm Aug 22, 2009 5:01pm
KingHigh,

Very interesting!

Question I have is... did you consider in this test how that price has to move for new bar?
next (10 pip) bar continuation for the new bar ---- 10 pips
next (10 pip) bar reversal for the new bar ---------20 pips

This would have effect on the SL, wouldn't it?

Bruce


Quoting KingHigh
The results were great so I went the next step and did a TP on every successful bar....
  • #7,551
  • Aug 22, 2009 5:11pm Aug 22, 2009 5:11pm
Quoting brucech
KingHigh,

Very interesting!

Question I have is... did you consider in this test how that price has to move for new bar?
next (10 pip) bar continuation for the new bar ---- 10 pips
next (10 pip) bar reversal for the new bar ---------20 pips

This would have effect on the SL, wouldn't it?

Bruce
No, as he wrote that he is "always in" trading.
"The only successful substitute for brains is silence."
  • #7,552
  • Aug 22, 2009 5:33pm Aug 22, 2009 5:33pm
Hello,

Could someone please remind me approximately what page or post # that someone posted instructions on how to put an offline Renko chart into startegey tester or if you remember the member's name or names who posted said instructions. It would be very kindly appreciated.
500 pages are a lot to shift through & the search thread box wasn't much help either yet.

Thank you in advance.........

45fxguy
.
.
.
.
  • #7,553
  • Aug 22, 2009 5:57pm Aug 22, 2009 5:57pm
Quoting JazzmanQ2
I threw MA 48 on my chart and just traded with the trend. I took every trade that was in the direction of the MA.
Trading with the trend eliminated 63 trades! That brought the losing percentage down to 15% so now we are at 85% winners taking every trade with the trend on the second brick. This is only theoretical of course because the market is so fickle, but it sound pretty good and you dont need ANY indicators on your chart.
Q
Sorry Mate, but the MA 48 is an indicator. Good job in finding something that works.
  • #7,554
  • Aug 22, 2009 6:02pm Aug 22, 2009 6:02pm
I would like to see a renko chart with the blocks starting/ending with prices ending in 0. I asked Edgetrader about using the lines and he said it was valid. Now that there are Renko chart user with some experience this should be an easy task.
  • #7,555
  • Aug 22, 2009 6:14pm Aug 22, 2009 6:14pm
Quoting KingHigh


SoOOO - looking at an "always in" stragegy -- worst cast is to look at the last bar and it is an up bar above trigger point so go LONG. Next bar is down bar - whoops - get out of LONG and open short if below trigger point and so on. IE - lose every trade by 5 or 10 pips -- BAD but not very probable.
You are referring to high/low of last brick as trigger point, correct?
  • #7,556
  • Aug 22, 2009 6:14pm Aug 22, 2009 6:14pm
Quoting gbppip
I would like to see a renko chart with the blocks starting/ending with prices ending in 0. I asked Edgetrader about using the lines and he said it was valid. Now that there are Renko chart user with some experience this should be an easy task.
The updated renko script from micha is doing just this
"The only successful substitute for brains is silence."
  • #7,557
  • Aug 22, 2009 6:19pm Aug 22, 2009 6:19pm
Quoting gbppip
I would like to see a renko chart with the blocks starting/ending with prices ending in 0. I asked Edgetrader about using the lines and he said it was valid. Now that there are Renko chart user with some experience this should be an easy task.
Try the latest version of Renko script used by most of the thread members. Actually 0 is a default setting, you can adjust it to any number you like.
  • #7,558
  • Aug 22, 2009 6:25pm Aug 22, 2009 6:25pm
Quoting jackal
Try the latest version of Renko script used by most of the thread members. Actually 0 is a default setting, you can adjust it to any number you like.
Or he could still use one of the free versions of renko & just use smaller bricks with the sweetspotgold indi on the charts to better see if, when, & where they start to crossover the 0 lines, I do that sometimes.
  • #7,559
  • Aug 22, 2009 6:49pm Aug 22, 2009 6:49pm
I am grateful for the fact that the FX market does not trade 24/7. The w/e gives a respite to recharge the batteries, catch up on this runaway thread and spend time thinking about the results of the previous weeks trading efforts.

It occurs to me that two of the most important factors in our Renko trading are momentum and currency correlation. I am sure we will hear more on the momentum of the PA but the correlation between various pairs (which can change with time and circumstances) has not really been canvassed.

Correlation can be affected by many factors including government action, varying inflationary climates, commodity prices, etc. Therefore, there are times when pairs with close correlation drift apart. I have been browsing the net looking for info on how to determine these relationships particularly between the pairs we are trading or perhaps with pairs that may be better to trade, as having closer correlation in the present time frame.

There is strong evidence that using the correlation of the favoured pairs leads to better trades. Added to the momentum of the PA, we have a powerful recipe for successul scalps. A quick and simple means of assessing these factors would undoubtedly aid in choosing the trades we take. Heaven forbid I am suggesting an indicator, but a means of checking the present correlation between our trading pairs would be helpful IMHO.

Swingman produced a dashboard for a H1 trading strategy which could possibly be helpful but I found it very complicated and far more than I am suggsting here. It also appeared to be very computer resource hungry. Has anyone anything that might give us this info.

Please do not let this line of thinking distract from the path we are taking - letting PA alone determine the entry for the trade. I guess I am looking for another 'edge' if only to determine which pair is the one most likely at the moment to be the leading pair and which pairs are likely to follow.

Karl
  • #7,560
  • Aug 22, 2009 7:24pm Aug 22, 2009 7:24pm
Quoting cobraforex
Hi folks

When you post, try to analize negative trades, that's the only way to improve your skills with Edge, posts like "I'm done for today" or "I've got my 2%" don't help nobody.

Cobra
You said it so well. So many posts like this and for what? What is there to be learned from these kind of posts?
If it backtests good run it live!
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