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C4 Scalping

  • #7,741
  • Aug 24, 2009 11:17am Aug 24, 2009 11:17am
Firstly congrats to the few here having consistent success trading the plan. Still beavering away with C4 myself.
This is not meant as criticism just to open some debate around the amount of risk per trade i see on some of these chart shots. 1 or 2 trades to achieve 2% gain on 5 pip target, i can understand the less is more concept but is there a good balance between risk and market exposure.

eg.

30 pip stop with 5 pip target for 2% gain risking 12%

Or

30 pip stop and 5 pip target for 0.5% gain risking 3%

sure you can manage the trade manually by watching PA but trading high volatility pairs like the EJ or GY 10-20 pips the wrong way is not unusual. Bit of a nail biter if you’re in for 2% every 5 pips..

I guess maybe a matter of choice and confidence in trading decisions, am finding 4 -6 trades to achieve 2% is comfortable for myself. Going for 8 trades with less risk I run into trouble due to probability of 1 or 2 trades failing so end up over trading to make up for the loss.
  • #7,742
  • Aug 24, 2009 11:22am Aug 24, 2009 11:22am
I’ve just read Expatxxx thread I’ve not been aware of. I’ve written I couldn’t care less who Edge was before. Well, apparently I was wrong. I wasn’t aware of this fraud scheme.

I’m not accusing anyone here, but if a respected FF member claims this thread was intended a scam (fortunately unsuccessful), it seems like a legitimate question. I have been scammed myself once in real life for a significant amount of money and couldn’t express how terrible it felt. For all those who try to ridicule recent thread development, I’d like to remind that fraud is a crime punishable by law in all civilized countries.

There’s no question about the fact that certain personalities are more likely to get scammed than others. Those who generally trust people and believe in positive aspect of human nature are the easiest targets. A lot of folks in this thread, including myself, would make perfect scam victims.

I’ve followed the thread since the beginning and have traded this system with success. I’ve been in and out forex market a couple of times and for the first time I feel I have the ability to trade successfully. I’d like to thank Edge, whoever he might be, for this. The fact is that I haven’t paid penny for it so I especially appreciate the effort, regardless of intentions.

I really don’t know what to think about this entire BS. Fact is that unfortunately it all makes sense. Rocket science physicist who possesses amazing abilities to create EA generating 50% profit daily, bunch of bodyguards defending “her”, profit / loss spreadsheet without single loss presented as a “motivator”, cult of personality making me feel somewhat strange, verbal aggression expressed in defense of the system and, finally, unexpected announcement “I’m leaving, I have to spare the rest as a material for my PAID SEMINARS” The list is long. I really don’t want to believe that this all is something more than a pure coincidence.

I don’t know what is going to happen with this thread. I would love to hear Edge addressing the issue and clarifying things. I hope thread won’t die like many others. I hope everything will be clarified and we will be able to focus on trading again.

Best Regards
  • #7,743
  • Aug 24, 2009 11:26am Aug 24, 2009 11:26am
Quoting Ozz
Firstly congrats to the few here having consistent success trading the plan. Still beavering away with C4 myself.
This is not meant as criticism just to open some debate around the amount of risk per trade i see on some of these chart shots. 1 or 2 trades to achieve 2% gain on 5 pip target, i can understand the less is more concept but is there a good balance between risk and market exposure.

eg.

[color=black][font=Verdana]30...
Indeed, it is a lousy R/R trading plan when looked at through conventional trading wisdom glasses.

Not many scalping plans offer a good R/R, C4 is most assuredly not one either. However, it is still viable as it stands and was used in this thread as more of a training exercise than anything. Just learning to watch some overall PA in general.

The value in C4 is its adaptability to different Tf's and trading styles. Is a pretty good base plan for swing trading and even position trading to an extent.

Regards.
  • #7,744
  • Aug 24, 2009 11:36am Aug 24, 2009 11:36am
Quoting studbiol
History doesn’t repeat?

I remember the story of the Canadian Dude. It was a thread where a lot of members helped to develop a good trading system. The Dude gave a little input, the members traded on demo and shared their results, the Dude took the results and decided in which direction the members should go on.

[font=Verdana]After weeks of testing and developing a few members asked uncomfortable questions. What happened? At once a few members since a short time were going to fight the questioners...
As a small comment think of this:
1. Free is what you pay for.
2. Why is it free? What is the motivation to start a thread and give all this info for free? Is it a well disguised future "marketing plan"? In other words, if you want to continue and have access to Level II info you will need to pay?

Those are good questions to ask yourself.. Remember there is no free lunch and sometimes "free" is what could cost you the most in the long run.
If it backtests good run it live!
  • #7,745
  • Aug 24, 2009 11:37am Aug 24, 2009 11:37am
Quoting Pipo
This is how my screen looks. No price No Chart No assumption where the price should be going.
Just sub windows with renko either up or down. Very easy to spot correlation and momentum.

Hi,

Can you explain how you get these charts?

An other question, do you trade with those charts or do you use the original charts and these charts?

Thanks

Ps English is not my native language so i hope you understand my question.

Regards
  • #7,746
  • Aug 24, 2009 11:40am Aug 24, 2009 11:40am
Quoting jackal
I’ve just read Expatxxx thread I’ve not been aware of. I’ve written I couldn’t care less who Edge was before. Well, apparently I was wrong. I wasn’t aware of this fraud scheme.

[size=3][font=Calibri]I’m not accusing anyone here, but if a respected FF member claims this thread was intended a scam (fortunately unsuccessful), it seems like a legitimate question. I have been scammed myself once in real life for a significant amount of money and couldn’t express how terrible it...
Really could care less if the thread dies or not. That is up to followers and visitors as a matter of choice. As with each and every person following or visiting such, the only thing offered here is information and the only cost is that of ones personal time. A perfect example of an exercise in freedom of choice.

Have already said I will continue with the efforts here until FF administration, who has ultimate oversight responsibility, sees the thread as being in violation of a rule necessitating closing such. Further, have already opined as to my own thoughts on that other thread. I thought page #112 summed it up pretty well.

One can choose to trade or one can choose to follow soap operas.

The former allows the potential to learn and earn as an individual sees fit.
The latter has very little to offer.

Regards.
  • #7,747
  • Aug 24, 2009 11:40am Aug 24, 2009 11:40am
Quoting Pipo
This is how my screen looks. No price No Chart No assumption where the price should be going.
Just sub windows with renko either up or down. Very easy to spot correlation and momentum.
Hi Pipo:

That looks really simple. Can you post the template? If you don't want to do it here, you can in my thread. Thanks.
If you only trade long, then you can't always be wrong.
  • #7,748
  • Aug 24, 2009 11:41am Aug 24, 2009 11:41am
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

I don't take it the wrong way - really not. Only a question: Same advice to DXTrader?

Quoting DXTrade
And +10 here...

Have a nice day

If there are pips you can collect - just do it!
  • #7,749
  • Aug 24, 2009 11:50am Aug 24, 2009 11:50am
Quoting FrankenPip
Hi Pipo:

That looks really simple. Can you post the template? If you don't want to do it here, you can in my thread. Thanks.
Agreed. Correlation is quite important. We work with momentum a bit more than Frank perhaps, but followers of either thread should see this as a potential benefit.

Regards.
  • #7,750
  • Aug 24, 2009 11:53am Aug 24, 2009 11:53am
Quoting FrankenPip
HI JazzmanQ2:

It is called HUMAN NATURE.
I'm proud to be human and I feel good you noticed it.

Same thoughts about DXTrader?

Quoting DXTrade
And +10 here...

Have a nice day - never mind

If there are pips you can collect - just do it!
  • #7,751
  • Aug 24, 2009 11:55am Aug 24, 2009 11:55am
Quoting Pipo
This is how my screen looks. No price No Chart No assumption where the price should be going.
Just sub windows with renko either up or down. Very easy to spot correlation and momentum.
This looks pretty intriguing. What indicator/setup are you using? How are your trades? What kind of losses have you had?
4XTrader2
  • #7,752
  • Edited 12:22pm Aug 24, 2009 12:06pm | Edited 12:22pm
-20 pips
Went long on the previous (green) candle, had a reversal a few minutes later, unfortunately getting too many of those.


Maybe somebody could offer some suggestions/corrections?

thx!
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  • #7,753
  • Aug 24, 2009 12:06pm Aug 24, 2009 12:06pm
Quoting jackal
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???
Hi,

indeed the same question to you: Same advice to DXTrader?

Quoting DXTrade
And +10 here...

Have a nice day

If there are pips you can collect - just do it!
  • #7,754
  • Aug 24, 2009 12:19pm Aug 24, 2009 12:19pm
Quoting Edgetrader
Who here can answer for the thousands of thread operators past and present as to motivation?

If there is no free lunch why is anybody in FF at all.

The entire premise of the site in general is that of a free buffet.

What does anyone here need some sort of level two info for? If you cannot trade level one proficiently, there is no level two. If you are able to trade level one proficiently, who needs a level two.
Good to know you have no future plans to charge for anything. This shows you are genuine and interested in perfecting your skill along with the group.

Cheers
If it backtests good run it live!
  • #7,755
  • Aug 24, 2009 12:21pm Aug 24, 2009 12:21pm
As a warning for the members of the thread:
Please be aware of anybody on this thread or anywhere else for that matter that is pushing any "improvement", EA, monthly subscription or any other service related to C4 or Nitro. Save your money and stick to learning how to trade it properly and in the long run you will achieve your goals.
If it backtests good run it live!
  • #7,756
  • Aug 24, 2009 12:22pm Aug 24, 2009 12:22pm
dear all

i use eur usd 1min scalp i want to test it with c4

i dl indicator from post #1 can anybody suggest template for eurusd m2

i have ranko too

thx in advance
  • #7,757
  • Aug 24, 2009 12:32pm Aug 24, 2009 12:32pm
Quoting bali2002
-20 pips
Went long on the previous (green) candle, had a reversal a few minutes later, unfortunately getting too many of those.


Maybe somebody could offer some suggestions/corrections?

thx!
I don't know what other pairs you are looking at but I am seeing that correlation with other pairs is essential.
4XTrader2
  • #7,758
  • Aug 24, 2009 12:51pm Aug 24, 2009 12:51pm
I understand, but would you trade short if correlations are going short, EVEN IF trix+momentum+HMA+scalper candles for a particular pair are going long?



I'm watching EY UY AY and ChY

Quoting 4xtrader2
I don't know what other pairs you are looking at but I am seeing that correlation with other pairs is essential.
  • #7,759
  • Aug 24, 2009 12:52pm Aug 24, 2009 12:52pm
Here are the trades of the day. Not all nitro trades though. For the Nitro trades i am at 100 % Hitrate today.
I know it's a little bit of overtrading - but i need to test the indi. Will stop now- need to go to work soon.
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  • #7,760
  • Aug 24, 2009 12:55pm Aug 24, 2009 12:55pm
Quoting bali2002
-20 pips
Went long on the previous (green) candle, had a reversal a few minutes later, unfortunately getting too many of those.


Maybe somebody could offer some suggestions/corrections?

thx!
Bali,

Do you have the momentum indicator? It sometimes helps keep out of a trade if the mom is the wrong side of the 100.

Also, are you looking at any other pairs with regards to correlation. What were they doing at the time?

Third, what stop loss did you have? How much of draw down was there? In your chart the reverse renko hasn't formed yet so the MAX that you could have lost there is less than 20 pips. What happened with the next renko? If your stop loss had been 25/30 would the trade have then been profitable?

At the time of taking the trade was the DX Meter showing all green?

just a few ideas ... don't be too disappointed, there will be losses, just hope many more wins

Cheers
Waddij
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