DislikedOh! People are stalking me? Must hire a bodyguard...
OK... I will make a new avatar or change it to the old animated one soon...Ignored
Even from myself.
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DislikedListen, whether he decides to charge for it or not is no business of ours and says nothing about LT as a person or a trader. He's spent the countless hours building the system, mastering the system, teaching the system, and developing the ebook. If he wants some recompense he has the right.
Try to avoid passing judgment on someone you know nothing about who has contributed to your forex learning experience.
By the way -- I know this is in the mantra in the form of never let a winner turn into a loser, but it has helped me to think of it in this manner when trading the rainbow. In forex, we always hear "Don't be greedy". Well for the rainbow I've modified that statement and put it up on my tradestation --- "Don't be greedy, BE STINGY". Meaning once I've earned a profit I do not want to give very much of it back to the market. Yes, you may only make 5 pips when you could have made 20 but it works the other way as well. You may make 5 pips when you would have lost 12.
CheersIgnored
DislikedOn the subject of TP. Anyone practice Mantra #21?
P.S. Please don't leave us when your website's up, LT!
P.S.S. Nice Home Page.Ignored
DislikedYou could combine them and make an interesting website...
and an even more interesting tournament! LOL!
Long Live the Thread!Ignored
Dislikedyou don't look at the rainbow correctly.... rainbow say long, you short, rainbow say short you long, that why you have to wait for it to come back...Ignored
DislikedLT,
You mentioned earlier that Rainbow trading is high probability, LOW FREQUENCY trading. Just curious -- approx. how many trades will you make each day? And across how many currency pairs? And that accounts for how much screen time?
I've been solely focusing on GBPJPY. Using the 30 second for my overall trend direction and the 5 second for entry/exit. My win/loss is around 70% and rising, with average winner at 12 pips and avg loser at 15 pips. I trade a live account as demo's don't do it for me -- I can't feel my reactions to a trading system if there isn't real money on the line. Over the last 24 hours I've probably executed close to 30 trades. I have a daily pip target for my Rainbow trades but I'm having so much fun I keep on trading.Ignored
DislikedIgnored
DislikedLinuxTroll,
I question if you dont mind. I was highly profitable last two weeks using your method and added 5-10% to my account every day and had 70-80% success rate but today when I traded during Bernanke and Bush speaches all my trades turned into losers. I was almost always on the wrong side. Do you recommend to avoid news times especially when someone important speaks or rainbow works for you even in such conditions and its just a matter of experience?
Thanks again for a great trading tool!Ignored
Dislikedyou don't look at the rainbow correctly.... rainbow say long, you short, rainbow say short you long, that why you have to wait for it to come back...Ignored
DislikedI am not sure I understand you here.
..............
Perhaps I misunderstood you.Ignored
DislikedStan, my answer was for wcalem for his question with his condition, ..... not you. so yes you misunderstand me.
He has an issue of having most of his trades goes into the negatives ~14 pips before it come back positive. so let me rephrase
I said to him "you don't look at the rainbow correctly.... "rainbow say long"(but instead)", you short, rainbow say short "(but instead)"you long, that why you have to wait for it to come back...Ignored