NITRO Scalping for serious traders | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

CHART Reading for serious traders 453 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

NITRO Variations for Open-minded Traders 290 replies

Attachments: NITRO Scalping for serious traders
Exit Attachments

NITRO Scalping for serious traders

  • #181
  • Aug 28, 2009 3:17pm Aug 28, 2009 3:17pm
E/J +5 +5 +5 +6...but you only need one a day to make you happy!
Attached Image (click to enlarge)
Click to Enlarge Name: nm.jpg Size: 135 KB
The Only Constant Is Change!
  • #182
  • Aug 29, 2009 8:48am Aug 29, 2009 8:48am
Hi Dark Days

Thanks for your very clear charts. I am not sure exactly when you enter your trades. You indicate that you enter as soon as the MA changes color which shows at the open of the next brick but I find that the MA can have several color changes while the new brick forms. The MA can in fact repaint until the brick is set. The PA for the new brick often moves in the opposite direction (retraces) which means the slope and color of the MA do not change immediately.

Do you anticipate the direction of the new brick and go in anyway? Is this as you would/did trade it or is this from back testing - 2 very different scenarios I think. You can look back in the history of renko plots and see this situation many times but I am finding it is not the way it happens live.

I am not having a go at you - on the contrary I am keen to know you rationale for taking the trade where you indicate your entry.

Thanks Mate
Karl
  • #183
  • Aug 29, 2009 9:08am Aug 29, 2009 9:08am
Hi, I have been working on this chart this past week.

Thought I would post it just for fun. I think we need indicators for this.

It takes a while to understand PA. These blocks make us do that, eventually. This may be the next evolution of trading. These blocks are available ,really, just because of advances in technology. It is much easier and much cleaner way to watch for PA.

Thanks to FrankenPip I finally am getting this posting thing I think.

Have a great weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: renko chart.jpg Size: 105 KB
  • #184
  • Aug 29, 2009 9:11am Aug 29, 2009 9:11am
I am one of the folk who have followed Paulus and Edge from the beginning - and I have learnt a great deal. (I am having fun trading demo but still nervous about taking the plunge with real money!). Many of those who have been there for ages are now split between 'Serious' and 'Open Minded' threads which is terrific that the thinking and learning can continue with both C4 and Nitro. For several weeks now, I have been compelled to read the 5-10 new pages of the old thread every time I turned the computer on. To avoid the withdrawal symptoms, I now have 2 threads to read. I am sure that I am not alone.

This post is a request to perhaps find common ground and amalgamate the 2 new terrific threads. Alternatively, rather than the posting to both threads, if the posters limit their contributions to one or other of the threads, it will save duplication. I for one will pick it up as I am now following both threads. I think the respective themes are clearly stated from the outset so where a post goes should not be too confusing.

Hope I am not putting anyone's nose out of joint - its certainly not intended.
Regards Karl
  • #185
  • Aug 29, 2009 10:58am Aug 29, 2009 10:58am
My research continues....

Tweaking and tweaking...do I have the 100% indy??

I don't know....

Attached 2 images...1 is relative to yesterday...the brick to trade is the brick after the arrow...so the signal is confirmed and does not disappear...and in this way i can visually backtest what is happened every brick after the arrow...
The second image is relative to a more choppy day....quite well i can see...
But i wanna be VERY VERY VERY cautious...as always i don't know how the indy that i've used works in real time, i think it could repaint...because every time i see a 100% result is because the indy repaints...

But...we will see...

I know that you would like to try it...but first i want to see how it works in real time...it could be a BIG ILLUSION!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nitros1.gif Size: 11 KB
Click to Enlarge Name: nitros2.gif Size: 10 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #186
  • Aug 29, 2009 11:15am Aug 29, 2009 11:15am
Keep up the good work Chris. Will keep the proverbial fingers crossed and be patient.

Thanks for all your efforts

Dave W
  • #187
  • Aug 29, 2009 11:16am Aug 29, 2009 11:16am
No you're absolutely right, the MA can repaint and invalidate my signal. This sometimes turns the trade into a loser. Visual backtesting nets typically nets one or two losses per every 25 trades. Live trading has netted 3 losses out of 13 trades thus far. Certainly not near a large enough sample size to conclude anything.

I am trading this method live without taking into consideration correlation between pairs, that is something I will add in later to improve the hit rate.
For now I want to see how this simple method works over one hundred trades or so. Then I will have something to tweek. But as it stands, this is a profitable strategy so far.

On another note, something that I do take into consideration on a trade using the HMA, is the angle at which it changes direction. The more acute the angle the more confident I am in the trade. Sometimes when a c-brick is painted the angle will be very weak, I usually skip these trades.

I still need to do some research on how this HMA works as it is the detonator in my plan. But I will keep you apprised to my live trading and how this plays out.

Hope this helps.



Quoting scartree
Hi Dark Days

Thanks for your very clear charts. I am not sure exactly when you enter your trades. You indicate that you enter as soon as the MA changes color which shows at the open of the next brick but I find that the MA can have several color changes while the new brick forms. The MA can in fact repaint until the brick is set. The PA for the new brick often moves in the opposite direction (retraces) which means the slope and color of the MA do not change immediately.

Do you anticipate the direction of the new brick and go in anyway? Is this...
  • #188
  • Aug 29, 2009 11:16am Aug 29, 2009 11:16am
Thanks for this

Quoting AWtraveler
DarkDays
Some good Renko info here about patterns http://www.forexoma.com/renko-chart-...-renko-charts/

AW
  • #189
  • Aug 29, 2009 11:40am Aug 29, 2009 11:40am
how can I add M2 timeframe? all I have is this
Attached Image
  • #190
  • Aug 29, 2009 12:09pm Aug 29, 2009 12:09pm
Are you talking about renko charts? If so you open them up under the File>Open Offline section of Mt4. After you have applied the renko script to the M1 Chart you want to examine that is...

Quoting Trader100
how can I add M2 timeframe? all I have is this
  • #191
  • Aug 29, 2009 12:14pm Aug 29, 2009 12:14pm
DarkDays - The Hull Moving Average was developed by Alan Hull in the UK. The HMA employs weighted moving averages and dampens the smoothing effect (and resulting lag) by using the square root of the period instead of the actual period itself:

waverage(2*waverage(close,period/2)-waverage(close,period), SquareRoot(Period)

Joe SDF
A traders greatest enemy is boredom.
  • #192
  • Aug 29, 2009 12:52pm Aug 29, 2009 12:52pm
How do you place SL for this system?
  • #193
  • Aug 29, 2009 2:20pm Aug 29, 2009 2:20pm
Hi Chris,

looks good so far. May i ask what did you change in your indicator ?

All the best,
Tex


Quoting Chris_B
My research continues....

Tweaking and tweaking...do I have the 100% indy??

I don't know....

Attached 2 images...1 is relative to yesterday...the brick to trade is the brick after the arrow...so the signal is confirmed and does not disappear...and in this way i can visually backtest what is happened every brick after the arrow...
The second image is relative to a more choppy day....quite well i can see...
But i wanna be VERY VERY VERY cautious...as always i don't know how the indy that i've used works in real time, i think it could repaint...because...
  • #194
  • Aug 29, 2009 3:12pm Aug 29, 2009 3:12pm
Thank you!

Quoting Joe SDF
DarkDays - The Hull Moving Average was developed by Alan Hull in the UK. The HMA employs weighted moving averages and dampens the smoothing effect (and resulting lag) by using the square root of the period instead of the actual period itself:

waverage(2*waverage(close,period/2)-waverage(close,period), SquareRoot(Period)

Joe SDF
  • #195
  • Aug 29, 2009 3:13pm Aug 29, 2009 3:13pm
It is discretionary, but the system is based off of a bad R:R and high hit rate. Just as an example I use a 9 pip TP with an 18 pip SL.


Quoting Trader100
How do you place SL for this system?
  • #196
  • Aug 29, 2009 4:23pm Aug 29, 2009 4:23pm
Quoting Chris_B
My research continues....

Tweaking and tweaking...do I have the 100% indy??

I don't know....

Attached 2 images...1 is relative to yesterday...the brick to trade is the brick after the arrow...so the signal is confirmed and does not disappear...and in this way i can visually backtest what is happened every brick after the arrow...
The second image is relative to a more choppy day....quite well i can see...
But i wanna be VERY VERY VERY cautious...as always i don't know how the indy that i've used works in real time, i think it could repaint...because...
I will be interested to see the outcome, particularly on the single brick reversals.
Good luck with it.
4XTrader2
  • #197
  • Aug 29, 2009 4:32pm Aug 29, 2009 4:32pm
OK boys and girls here is my minor contribution to this thread. When You see a Renko reversal brick there is no way of knowing if it is going to reverse for 1-brick or 2-bricks or many more. So here is my entry technique when I'm fishing for larger moves while trying to not get killed by the whipsaws. This example is for an up move reversing to a down move:

As I watch the 1st reversal brick forming I place a Pending Sell Stop Order at the projected brick Close price with a 10 pip + spread SL. If the next or 2nd brick continues in the reversal direction I move the SL to breakeven. If the 3rd brick continues in the reversal direction I change to a different Exit strategy. Here are the possible outcomes:

If the 1st reversal brick is reversed you will be stopped out at a loss of 10+ pips.

If the 2nd brick is reversed you will be stopped out at breakeven.

At the Close of the 3rd brick change to some other Exit strategy of your own choosing and try to ride the move as far as possible.

In real trading I experience few 10+ pip losses and a few more breakeven trades but this is a price I am willing to pay as I go fishing for the larger price moves. BTW I'm not scalping for 5 or 10 pips and I only trade the London/NY overlap.

Good fishing,
Joe SDF
A traders greatest enemy is boredom.
  • #198
  • Aug 29, 2009 5:53pm Aug 29, 2009 5:53pm
Thanks Mate - we look forward to hearing (seeing) further results on your strategy. Certainly cleans up the chart!
Regards Karl
  • #199
  • Aug 29, 2009 9:35pm Aug 29, 2009 9:35pm
Quoting bali2002
But got a few pips later (stepped out a little before the 5 pips line because the PA became sluggish, beter safe than dead)
Hey Bali
Is that TOPTREND indy on your charts and if so what are your settings
Thanks
Mombone
  • #200
  • Aug 30, 2009 5:29am Aug 30, 2009 5:29am
Quoting scartree
This post is a request to perhaps find common ground and amalgamate the 2 new terrific threads. Alternatively, rather than the posting to both threads, if the posters limit their contributions to one or other of the threads, it will save duplication. I for one will pick it up as I am now following both threads. I think the respective themes are clearly stated from the outset so where a post goes should not be too confusing.

Hope I am not putting anyone's nose out of joint - its certainly not intended.
Regards Karl
I have no problem with amalgamation or just dropping this thread and letting the Variations one continue. The objective was to provide a home for those who just want to scalp (as we believed was the original plan with Nitro) and those who want to try other variations .. like taking more profit, re-entries, etc.
However keeping people in FF organized this way is like trying to corral cats. Note Joe SDF's post above, he is going for larger profit so should really be posting in the other thread.
I will put it as a vote .. if the majority want to drop this thread, I have no problem with it.
I will see if I can figure out how to set up a poll ...
******************* I'd rather make money than be right.
2 traders viewing now