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C4 Scalping

  • #7,621
  • Aug 23, 2009 6:25pm Aug 23, 2009 6:25pm
Quoting studbiol
Hi all,

trading starts and I would like to share an idea with you. Although I know less is more a was a little bit playing with indicators.

On the attached picture you can see two charts of USDJPY. The left one shows a 3pip-brick renko chart, the right one shows a 10pip-brick renko chart. On both charts you see a Ichimoku-cloud with the settings Cobraforex uses on his thread (THV system, final edition). The second indicator is a hull-indicator set to 36; 2.0

Attachment


I was looking a at these chart for the last hours. Like...
The theory is similar to trading a 15m chart by watching the 5m if I am correct.

Why not trade it in demo and compare it to the regular MT4 Nitro for a week and see if it truly benefits you? Please follow through and advise at your leisure. The entry is not as critical as the exit so the 3 tic block may be beneficial.

Would only use it in conjunction with the pair you plan to trade though as Nitro should have you looking at four (4) pairs already. I would focus on the EJ pair.


Regards.
  • #7,622
  • Aug 23, 2009 6:29pm Aug 23, 2009 6:29pm
Quoting 4xtrader2
Sorry to sound unimpressed. It looks like a glorified MA crossover. I could do the same thing with moving averages on a 1 minute and 5 minute chart.
I think you are absolutely right. You just picked my idea: M1 and M5 to compare is a good tool. 3-brick and 10-brick to compare seems similar. I was insecure because renko is not time based. You clarified my idea.

What do you think: Could it be interesting? Forget Ichimoku and Hull - these are only examples.

Thanks

If there are pips you can collect - just do it!
  • #7,623
  • Aug 23, 2009 6:32pm Aug 23, 2009 6:32pm
Quoting Edgetrader
The theory is similar to trading a 15m chart by watching the 5m if I am correct.

Why not trade it in demo and compare it to the regular MT4 Nitro for a week and see if it truly benefits you? Please follow through and advise at your leisure. The entry is not as critical as the exit so the 3 tic block may be beneficial.

Would only use it in conjunction with the pair you plan to trade though as Nitro should have you looking at four (4) pairs already. I would focus on the EJ pair.


Regards.
I will report.

If there are pips you can collect - just do it!
  • #7,624
  • Aug 23, 2009 6:37pm Aug 23, 2009 6:37pm
How much faith or value can be placed from the "tick" page that is alongside the order page to follow PA.
Thanks for any replies..
  • #7,625
  • Aug 23, 2009 6:43pm Aug 23, 2009 6:43pm
Quoting 4xtrader2
When I was in college a professor told the story of a student who wanted to major in Biology....
HI 4xtrader2:

I like that story.
If you only trade long, then you can't always be wrong.
  • #7,626
  • Aug 23, 2009 6:45pm Aug 23, 2009 6:45pm
Quoting JazzmanQ2
Don't take this the wrong way but I think that we have already been through the indy search. If all of those indies work for you great, however they are just more confirmation tools and we have already been there. My absolute honest opinion is why are you looking elsewhere? Everything you need is already here, all you need is to get on the same page as the rest of us, and with our current set up I think that we are just about to make a break through.
Q
HI JazzmanQ2:

It is called HUMAN NATURE.
If you only trade long, then you can't always be wrong.
  • #7,627
  • Aug 23, 2009 8:18pm Aug 23, 2009 8:18pm
Quoting studbiol
I think you are absolutely right. You just picked my idea: M1 and M5 to compare is a good tool. 3-brick and 10-brick to compare seems similar. I was insecure because renko is not time based. You clarified my idea.

What do you think: Could it be interesting? Forget Ichimoku and Hull - these are only examples.

Thanks

I think I would agree with Edge and trade it in demo for a week and confirm your suspicions.
4XTrader2
  • #7,628
  • Aug 23, 2009 10:03pm Aug 23, 2009 10:03pm
100% agree. Thanks for taking the time to respond.

Quoting 4xtrader2
When I was in college a professor told the story of a student who wanted to major in Biology. When the student came to his advisor, who was a prominent Biology professor at the university, the professor listened to the student expound on why he wanted to major in Biology. After several minutes, he stopped the student, and took him into the Biology lab, sat him at a desk, and placed a dead fish on the desk in front of him. He said, "I'll be back in an hour to see what you can tell me about the fish". Promptly the professor left the student to himself....
  • #7,629
  • Aug 23, 2009 10:21pm Aug 23, 2009 10:21pm
No explosions this morning just a nice little fizz, pop, and bang.

Trade taken just after the opening of the Nikkei when all 4 pairs had a good momentum going. In and out for a quick 7 pips.

The red vertical lines show where the PA was at 02:30 fxdd time and the trade was taken on Oanda on the eur/jpy.
Attached Image (click to enlarge)
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  • #7,630
  • Aug 23, 2009 10:26pm Aug 23, 2009 10:26pm
I think the C-4 trading is no longer talked about but not trading Nitro Yet (sorry Edge)..so posting a quick +5 from tonight...not really the approved time frame either, but I fine that asian market to be slow and steady..
Attached Image (click to enlarge)
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  • #7,631
  • Edited 11:20pm Aug 23, 2009 10:50pm | Edited 11:20pm
Quoting DaveW
No explosions this morning just a nice little fizz, pop, and bang.
Have you found an advantage in substituting usdjpy for gbpjpy in terms of better pair correlation. Just curious. I'm still using gbpjpy but prefer to take the actual trade on eurjpy. Also looking at Oanda as spread is, although variable, typically 2 at peak trading times rather than 4 pips (fixed) at IBFX.

Do you get good fills at Oanda in a fast moving market?
  • #7,632
  • Aug 24, 2009 12:04am Aug 24, 2009 12:04am
Quoting studbiol
Hi all,

trading starts and I would like to share an idea with you. Although I know less is more a was a little bit playing with indicators.

On the attached picture you can see two charts of USDJPY. The left one shows a 3pip-brick renko chart, the right one shows a 10pip-brick renko chart. On both charts you see a Ichimoku-cloud with the settings Cobraforex uses on his thread (THV system, final edition). The second indicator is a hull-indicator set to 36; 2.0

Attachment


I was looking a at these chart for the last hours. Like...
I think you should start your own thread. I'm sure this is a great system you trade but this is really not the best place for your "ideas". Let us focus on the task at hand please. I know someone has told you that before. Why so stubborn???
  • #7,633
  • Aug 24, 2009 12:53am Aug 24, 2009 12:53am
Quoting SlushFund
Have you found an advantage in substituting usdjpy for gbpjpy in terms of better pair correlation. Just curious. I'm still using gbpjpy but prefer to take the actual trade on eurjpy. Also looking at Oanda as spread is, although variable, typically 2 at peak trading times rather than 4 pips (fixed) at IBFX.

Do you get good fills at Oanda in a fast moving market?
Hi SlushFund

I have attached the chart from this morning showing the Gbp/Jpy PA at the relevant time. As you see it's behaviour was exactly in line with the concept of correlation between all the crosses. I tend to monitor the USD/JPY as, although it is a slow mover, when the JPY puts in a big move it is reflected on that pair. So, as long as the USD/JPY is not moving against the other 3 then I will take the trade on the EUR/JPY.

I prefer Oanda because of the spreads and in my experience have never had problems with fills, our trades are accepted at the price prevalent as we push the plunger.

You will suffer from the usual slippage during RED NEWS times like every other broker but once the spread returns to normal after an announcement then trading reverts to the norm.

Regards

Dave W
Attached Image (click to enlarge)
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  • #7,634
  • Aug 24, 2009 1:36am Aug 24, 2009 1:36am
Quoting DaveW
Hi SlushFund

I have attached the chart from this morning showing the Gbp/Jpy PA at the relevant time...
Thanks for that Dave. You seem to be getting very consistent results.
  • #7,635
  • Aug 24, 2009 2:01am Aug 24, 2009 2:01am
Slow off the mark today
Attached Image (click to enlarge)
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  • #7,636
  • Aug 24, 2009 2:15am Aug 24, 2009 2:15am
Screenshot is from an earlier post on the forum.

Attached was a " Nitro " spreadsheet.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #7,637
  • Aug 24, 2009 2:21am Aug 24, 2009 2:21am
It appears from the spreadsheet attached that the author of the document was a person by the name of " Keith Brown ".

I am sure that you are mature and responsible enough to make your own decisions.
Attached Image
" Never let the past hold the future to ransom "
  • #7,638
  • Aug 24, 2009 2:24am Aug 24, 2009 2:24am
OMG good catch Glen
  • #7,639
  • Aug 24, 2009 2:27am Aug 24, 2009 2:27am
Quoting DaveW
Slow off the mark today
Just took +5 on the E/J about 10 mins before London open. I took the trade with my demo Oanda account. As price picked up the spread changed from 4 to 2 pips, then some good correlation with the pairs and then I was in.

Dave, I must say I like Oanda. The floating box with a preset TP and SL is just one click to trade and executes quickly. I also have quick trading scripts for MT4 but I've found they can be a bit sluggish.
Regards
Tony
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  • #7,640
  • Edited 3:13am Aug 24, 2009 2:38am | Edited 3:13am
Hi all, have read the complete thread and have gained an immense amount of good valid information regarding fx trading. You have my gratitude.
I have something to add to the mix, if i may.
Regarding the correlation factor, well blind freddy should be able to see when all 4 nitro pairs are in sync. So regarding position size and risk per pair, if you trade the first pair with your smallest position size, and do not take trades on any more until correlation is confirmed then that is your only risk, ie: 15-20 pips on one trade. Assuming that correlation is confirmed, take the next trade with a slightly larger position. Grow your position size per pair as correlation strengthens. This way you only require PA to confirm direction, and as Edge has stated several times, all the pairs rarely trigger at the same time. Roll into the developing trend!
To me, it seems a logical approach to a strong basic system.Minimise the risk and maximise the return. Any thoughts?
Keep up the great work.

Timb.
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