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C4 Scalping

  • #7,861
  • Aug 25, 2009 9:15am Aug 25, 2009 9:15am
7 pips before the news
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  • #7,862
  • Aug 25, 2009 9:23am Aug 25, 2009 9:23am
DaveW

Are your charts 5min renko?

Why do our charts look different (mine is 10min)?
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  • #7,863
  • Aug 25, 2009 9:38am Aug 25, 2009 9:38am
Quoting DaveW
7 pips before the news

Dave

Great results.
But I don't understand the indis you are using? Can you list them and maybe post your template please?

thanks
  • #7,864
  • Aug 25, 2009 9:39am Aug 25, 2009 9:39am
Quoting bali2002
DaveW

Are your charts 5min renko?

Why do our charts look different (mine is 10min)?
The difference in appearance between our charts is probably due to the fact that my Renko Blocks are anchored at xxx5 rather than yours that are anchored at xxx0. Both are 10 pip blocks and apart from the anchoring difference seem similar

Dave W
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  • #7,865
  • Aug 25, 2009 9:41am Aug 25, 2009 9:41am
Quoting walb99
I think you are the only one who wants uniformity, all the others are here to learn. That's a huge difference in motivation following this thread.
Edge is right. It gets extremely confusing for people who try to follow one system just to have millions of indicators thrown in their faces. If you want to propose a new trading style it's best to start your own thread. Edge has set out to teach a specific trading style here. Give him the respect he is due.
  • #7,866
  • Aug 25, 2009 9:50am Aug 25, 2009 9:50am
Quoting luckylady
I think there is a problem wanting uniformity when the "system" changes very often. C4 basic was fine when this thread started, which by the way was an offshoot from Paulus' thread, we were taking 10 pips + and doing ok. Then it went to C4 v2 where we were only supposed to go for 5 pips, then something completely and utterly different....Nitro which uses Renko, and this thread is not even 2 months old, so maybe the "base methodology " will not be the same next week?
I agree this thread has seen many "changes" and much growth. Heck I'm still not sure which meter or arrows I prefer but am real close to just scrapping them all and just trading pair correlation and PA.

But I think that is the point. As I thanked Edge in my first post for doing so much more than just throwing us a "fish", I believe he is teaching us how to fish. ( just an analog--I'm not ranking him with the big guy) How to trade and think like a trader, the other 75% of the equation.

I am sure this process takes steps, for some more than others to unravel the baggage we came in with. I for one can say that my trading and thought process have grown greatly during this journey.

Edge started this thread and it is his right to monitor it as he sees fit.

I say Bring it on! Looking forward to the next challenges.
  • #7,867
  • Aug 25, 2009 9:50am Aug 25, 2009 9:50am
Quoting rorieu
Dave

Great results.
But I don't understand the indis you are using? Can you list them and maybe post your template please?

thanks
Rorieu

Here is the template and the files you would need.

The arrows on the chart window are drawn by the IndexedMomentum indi, and although they prove to be of some value I mainly rely on the momentum and correlation between the 4 pairs for trading.
Attached File(s)
File Type: tpl 1 edge.tpl   3 KB | 1,043 downloads
File Type: ex4 HMA Color nrp.ex4   6 KB | 963 downloads
File Type: ex4 Nitro-Momentum-Indy-V2.ex4   4 KB | 1,179 downloads
File Type: ex4 smSuper TRIX_PV_4col.ex4   11 KB | 1,126 downloads
File Type: ex4 IndexedMomentumK.ex4   5 KB | 1,162 downloads
  • #7,868
  • Aug 25, 2009 9:53am Aug 25, 2009 9:53am
Quoting luckylady
I think there is a problem wanting uniformity when the "system" changes very often. C4 basic was fine when this thread started, which by the way was an offshoot from Paulus' thread, we were taking 10 pips + and doing ok. Then it went to C4 v2 where we were only supposed to go for 5 pips, then something completely and utterly different....Nitro which uses Renko, and this thread is not even 2 months old, so maybe the "base methodology " will not be the same next week?
Perhaps you can isolate ONE thread for me that has traded the exact same methodology listed on its front page from beginning to end without any new additions or variations. Wanting uniformity is the same as asking for focus on trading efforts. The only 'problem' occurring is the deviation of such.

Have already said individuals are welcome to trade C4 as they wish. Have also already stated that is in the past and we are focused on MT4 Nitro. Was clearly written plain as day.

It matters not where you think a thread originated from. It began as C4 and the thread followers had tremendous input into it rapidly going to MT4 Nitro which is where it obviously is.

Some do not like this and are obviously welcome to follow 'quietly' as they see fit. Otherwise, they can trade any plan presented as they wish.

Others do not like uniformity and say they are here to learn. That too can be done 'quietly' as they are welcome to trade the methodology and setup as it has evolved as they wish. Other than that, I am not at all concerned with what one does.

Whether the thread has 5 or 500 looking at it is irrelevant to me. The trading plan is solid, is on schedule (actually ahead) and the goal is the same as always. Trading the plan is primary, everything else is secondary.

Lastly, the 'base' methodology is the same as always. PA crosses a MA and is confirmed through some other means, whether a momentum indi or the DXTrade meter. Monetary goals while demo trading have never changed, they have consistently been stated as +2%/-4%. The +5 or +10 is dependent on how one sees 'overall' market PA and which pair they are trading.

Regards.
  • #7,869
  • Aug 25, 2009 9:55am Aug 25, 2009 9:55am
I remember a long while ago you spoke about your plans for educational progression Edge - I'm just wondering, are we likely to see a migration to a new stage any time soon?
  • #7,870
  • Aug 25, 2009 10:00am Aug 25, 2009 10:00am
Quoting trader 494
I agree this thread has seen many "changes" and much growth. ...
But I think that is the point. As I thanked Edge in my first post for doing so much more than just throwing us a "fish", I believe he is teaching us how to fish. ( just an analog--I'm not ranking him with the big guy) How to trade and think like a trader, the other 75% of the equation.

I am sure this process takes steps, for some more than others to unravel the baggage we came in with. I for one can say that my trading and thought process have grown greatly during this journey....
I agree with the above, this thread is about a very specific trading methodology but we are being led to it gradually as there are many foundational concepts to be absorbed along the way.
Some on this thread have understood this & are starting to make money. I am making money consistently for the first time in nearly 2 years of trading forex.
Those who are confused or just want to explore other indicators or methods of trading would probably be better off on the other C4 thread or one of the many others on FF.

In THIS thread I vote for 'uniformity' and even dictatorial control - - because I am making money... finally!
******************* I'd rather make money than be right.
  • #7,871
  • Aug 25, 2009 10:01am Aug 25, 2009 10:01am
Quoting Mindsphere
I remember a long while ago you spoke about your plans for educational progression Edge - I'm just wondering, are we likely to see a migration to a new stage any time soon?
Are you able to trade the plan day in and day out consistently and profitably? How many demo trades have you completed? Show me what you have and then we can see where you are at.

Some may be ahead of others. If so great. If they are satisfied with their progress they can begin trading live as they wish. Very few seem confident enough to do so at this time.

Or, they can wait until I think the balance of folks seem ready and we can move on from there. Plenty of ways to fill in the time until then. I think the educational progression you inquire about should be on my schedule as it is tailored to the many.

Regards.
  • #7,872
  • Aug 25, 2009 10:02am Aug 25, 2009 10:02am
Quoting DaveW
Rorieu

Here is the template and the files you would need.

The arrows on the chart window are drawn by the IndexedMomentum indi, and although they prove to be of some value I mainly rely on the momentum and correlation between the 4 pairs for trading.

Dave

Perfect! thanks very much indeed.

rorieu
  • #7,873
  • Aug 25, 2009 10:09am Aug 25, 2009 10:09am
Entered very late in this trading day....i have very few time today...

Resetted my account to 10.000$
Missed the news opportunity... so tried some trades some minutes ago...

Not fantastic but PA is moving slowly now...so...that's all for today...i have some other things to do...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #7,874
  • Aug 25, 2009 10:14am Aug 25, 2009 10:14am
A major milestone for me - 5th straight profitable day without going beserk when I have a losing trade and then having to try and make up the loss. Still focused on price action and correlation. Nitro has proven to be easier for me to discern price action and correlation.
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4XTrader2
  • #7,875
  • Aug 25, 2009 10:16am Aug 25, 2009 10:16am
Quoting trader 494
I agree this thread has seen many "changes" and much growth. Heck I'm still not sure which meter or arrows I prefer but am real close to just scrapping them all and just trading pair correlation and PA.
An excellent idea. Will quickly become boring due to the repetition. Phase 1 then complete as you are no longer an adrenaline junkie. Gives one a different mental view of trading.

Phase 2 is the proficency attainment stage. This is what we are working on now, or at least should be. Hit the target, good or bad, reset, reload and do it again. Needs to become second nature.

Thase 3 is later.

Regards.
  • #7,876
  • Aug 25, 2009 10:19am Aug 25, 2009 10:19am
Quoting 4xStar
I agree with the above, this thread is about a very specific trading methodology but we are being led to it gradually as there are many foundational concepts to be absorbed along the way.
Some on this thread have understood this & are starting to make money....
"dictatorial control"

It's getting even better. Is this still a free country?
/ ... clarifying decisions ... /
  • #7,877
  • Aug 25, 2009 10:24am Aug 25, 2009 10:24am
Quoting 4xtrader2
A major milestone for me - 5th straight profitable day without going beserk when I have a losing trade and then having to try and make up the loss. Still focused on price action and correlation. Nitro has proven to be easier for me to discern price action and correlation.
A solid step forward for sure. A losing trade should simply be reviewed to make sure it was not trader error. Once it is clear that PA is at fault and not the trader, nothing else to do but move to the next trade. PA is out of our control. Always has been, always will be. Simple probabilities is what we attempt to qualify trades by.

Nothing in anyone's tool bag is going to allow them to avoid losing trades.

I know everyone knows this. Just restating the obvious.

Is an extremely viable high hit rate plan. With some time, the losing trades will be a bit better managed as one really starts to tap into that
intuition' I spoke about previously. All people have it and it can be honed to some extent. Just making a tool available a bit sharper. Will learn to see better and better what overall market PA is doing. Might eventually allow for a touch of anticipation even.

It is certainly not 100% mechanical no matter what a trader does.

Regards.
  • #7,878
  • Aug 25, 2009 10:27am Aug 25, 2009 10:27am
Quoting walb99
"dictatorial control"

It's getting even better. Is this still a free country?
Have you checked what is going on in D.C. lately??
******************* I'd rather make money than be right.
  • #7,879
  • Aug 25, 2009 10:27am Aug 25, 2009 10:27am
Quoting walb99
"dictatorial control"

It's getting even better. Is this still a free country?
Yes, walb99 ..... it's your choice. You can visit this thread, or not ... as you wish. Your free choice.
  • #7,880
  • Aug 25, 2009 10:35am Aug 25, 2009 10:35am
Quoting Chris_B
Entered very late in this trading day....i have very few time today...

Resetted my account to 10.000$
Missed the news opportunity... so tried some trades some minutes ago...

Not fantastic but PA is moving slowly now...so...that's all for today...i have some other things to do...
Did not 'try' some trades.

Observed PA, recognized a decent setup, and 'initiated' trades based on solid plan analysis. More professional in effort than just a simple 'try' to ring the bell.

In a rush and still able to get some positive results. Might have been best to let trading go for the day if unable to focus efforts, but still you overcome.

Nice!
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