C4 Scalping Strategy
August 3, 2009 by hyiperz
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This methodology (scalping) is definitely not rocket science. You do not need a PhD. nor any other advanced educational degree to succeed in trading this style! Further, you do not need to be proficient in identifying S/R, placing pivot point or working with Gann Fans or Fibonacci retracements. Lastly, you do not need to be so anal as to have the need for eight separate indicators all telling you the same thing.
What you do need is the ability to actually sit and watch a computer terminal for a few hours, an uninterrupted work environment that allows you to focus on the task at hand, and the ability to recognize a very simple trade setup when one presents itself based on the unfolding PA looking you right in the eye. You also need the ability to point a mouse at your order box and press ‘Buy” or “Sell” when a decent signal appears. Above all else, you need to be comfortable with and understand the concept of ‘Probability Theory’ trading. If you do not know what this is, then you need to go look it up. There is ample information available on the internet free of charge to you that will help you gain enlightenment on this concept. The book ‘Trading In The Zone’ by Mark Douglas is an excellent read if you feel inclined.
It is best suited to those with some experience in the industry. Similar to applying to become rated as an EO (Explosive Ordinance) in the military, you should have shown some manner of discipline beforehand to give others a general feel of confidence that your are not a risk to yourself or others. However, the FF is not restrictive. As such, anyone can apply! Always remember that trading the Forex has an inherent risk involved. Never trade funds you cannot afford to lose.
Lastly, you need only two (2) indicators on a 5M chart, a PRIMER and a DETONATOR, or ‘trigger’ as you will. Thus the name C4 Scalping.
As the name infers, scalping is explosive and demands you pay attention. PA moves quickly at times. If not on your ‘A’ game, you are going to get killed !!.
Further, if setting a trade and walking away from it in the HOPE that it goes your way is your cup of tea, you should not read any further as you simply will not pass the muster here. This is ’scalping’ and you need to be present at your post!
However, do not lose heart. If you can focus on the methodology presented here for a little while, you will be well served as ALL of the primers and detonators presented here work on ALL TF’s!!!!
Ok, let’s get started here!
Gear Up…
You do not need a burdensome amount of gear or tools here. The following will do quite nicely.
1 - Get a decent broker with a clear, concise charting package.
2 - Open four (4) charts and place them on your screen as a group. I suggest the following pairs be considered. EU, GU, EY and AU. You can change them later as you deem prudent, but those are the ones you need to start with. WARNING!!! MAKE SURE THEY ARE 5M CHARTS!!!
Make the charts color schemes any manner which appeal to you. Forget about asking for a template! Do some really basic work here. Remember, you are the one that is going to be looking at them so make them easy on your eyes. Think about the scheme a bit and know that the more VIBRANT and charting scheme is, the more psychologically detrimental it becomes to you. Make it nice, clean and soothing.
Tools…
Make sure the following indicators are in your tool bag.
PRIMERS…
1 - SM ‘Scalper’ candles (settings are 3,1,1,1 under the inputs tab and work the colors tab to your liking).
2 - MA in color w/ applied price (settings are 8,3,6 under the inputs tab and set the colors as you wish).
Those are the only primers you need.
DETONATORS (triggers)…
1 - SM Super Trix PV 4 color (set at 3,1,1,1 on the inputs tab). In the ‘colors’ tab, make #’s 1 and 2 the same colors as your bullish and bearish candlesticks.
Note:
Reference the attached chart shots if you cannot grasp this color coding concept. Remember, ’scalping’ is EXPLOSIVE, make the color schemes easy to understand. You will need to be focused on watching PA, not glancing at multiple color combinations.
These are all the tools you will need in your gear bag.
Note: Make sure you install the smsuper trix v.1 as this will allow the PV type trix indi’s to operate on your platform. Also, TURN OFF ALL ALARMS!! (Tools, Options, Events, uncheck the ‘enable box’.
Setting Your Primers…
Take each ‘primer’ from your gear bag and carefully place them on your chart. OK, that was pretty easy.
Wire Your Detonator…
Take the ‘detonator’ from your gear bag and VERY carefully place it on your chart. Nice work.
OK, the hard part is done. Let’s have a wee bit of fun here.
PA acts as a virtual freight train. It rolls up a hill, down a hill and sometimes on relatively flat terrain. As such, common sense would dictate that if we can derail the train on either a upward or downward hill (mini-trend) we can do a bit more damage than on flat terrain. On flat terrain, we are far more susceptible to being discovered via consolidation. We want a bit of gravity working in our favor if possible.
Take a look at the attached chart labeled EURUSD.
As shown, we have our ‘primers’ (SM Scalper Candles and MA colored) wired to our ‘detonator’ (SM UltraSuperTrix). As PA (train) moves along, it takes a downward swing where by our primer(s) are energized by changing color from ‘yellow’ to ‘red’. We have condition one (1) complete.
Very quickly, as PA continues in the same direction, it reaches a level whereby our ‘detonator’ turns from ‘green’ to ‘black’ and thereby becomes HOT!!!!!! We have condition 2 complete.
Now what?
Yep, ALL of you know what is needed to do next to complete the mission.
PUSH THE PLUNGER !!!.. (commonly referred to as a mouse) and BOOM! Hopefully the PIPS ARE FLYING!! (If you ever get the opportunity to actually set off a reasonably large explosive ordinance device ’safely’, go for it!! It is quite invigorating).
Now, take a look at the chart labeled GBPUSD. As shown, we have the PA (train) headed uphill. For this mission, we simply do the same thing as before. We wait for primer to energize and detonantor to go ‘hot’ and we do what? Yep,
PUSH THE PLUNGER !!!…
There you have it. Pretty darn easy when you train yourself to recognize potential trades using the bare minimum high quality tools available to you to get the job done. That is C4 Scalping in a nutshell.
OK, OK. Enough playtime. Lets talk trading the plan here real quick…
I already mentioned that this is not rocket science. That is readily apparent now to anyone. Lets go ahead and let me set forth the parameters I use to trade the methodology.
Step one - Watch my ‘primers’ for PA violation. IT MUST BREACH THE MA!!!!!
Step two - Watch my ‘detonator’ for Candle/Trix color coded confirmation.
Step three - Push the plunger (Buy or Sell).
Trading Goals…
1 - +5 pips (net).
2 - SL is discretionary and is not set in stone!! I have found that the clean break of the LWMA serves well. Also, a change in the detonator color is a sure bet to exit the trade.
Note: Trading this methodology is not going to give you a 1:1 R/R. Scalping is built on probability theory as mentioned. Further, PA will tend to repeat small intricate movements repeatedly. This is simply historical fact. As such, a scalping plan is based upon a decent win/loss percentage and very good MM. Just playing the odds and trying to stack them in your favor now and then.
3 - I trade this method at a set period of day. That is from 0400 to 0900 PST. PERIOD!!!! No Questions asked!! This is the ONLY time I trade the Forex market. It has historically produced volatility sufficient enough to generate PA commensurate with trading this particular strategy.
However, I also note that the period from 0000 to 0200 PST provides adequate volatility to also be productive. These periods are known as the London/U.S. and Asian/London overlapping times. Grab a GMT converter and set your local times accordingly. Time to start thinking a bit.
Any other times traded and you are own your own!!!!!
I seek only enough trades to allow me to reach +2/-4% to account balance daily. My personal preference is to trade multiple lots and garnish a modest amount of pips, usually around 20-25 or so daily. I do everything possible to identify high probability trading setups and diminish market exposure. (ref: post #1306 for a better accounting as to these targets)
How you choose to trade is personal decision YOU have to make. Whether you want to scalp or swing trade, the methodology shown and indicators provided will allow you to do either pretty regularly. It is up to you to decide when to ‘push the plunger’ and enter a trade. You will have to ‘think real hard about this’.
Ultimately, you will find this plan ridiculously simplistic in design. The more you work at it, the easier it will become. Sadly or joyously ’simplicity is the single hardest trading concept to wrap your mind around’.
Will be around pretty often to answer questions should you have any. I do not wish to set forth any further RULES as they will not be followed anyways.
As you wander through this thread, there will be the usual multitude of various other indicators proposed for usage. Use what you wish, you are the one having to look at the chart and trade it. Remember, scalping is quick so try to not clutter up your charts with indicators. You simply will not have the time with fast moving PA to look at very much. You need a primer and trigger, plus a bit of faith in the plan.
C4 Scalping Forex Trading System Strategy
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Wow! Tried your strategy for a week and it seems to be very accurate. Good on you! I fixed my TP on 50 and got almost 95% success. However, the alert function seemed to malfunction. It keeps ringing after it started. Wonder if the source code is available. I think it can be modified to work properly. Cheers. Thks again for sharing.