Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

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

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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

Simple Scalping System 64 replies

xPip Simple Scalping 27 replies

Attachments: Linuxtroll Simple Scalping
Exit Attachments

Linuxtroll Simple Scalping

Quoting Blazer
Hello ,

As long as we dont have the money and the experience to play with the big boys we will count spreads and commisions.

The high probability setups are hoooooney.
If you have $400 to open account with EFX, you can trade 1 mini lot ( yes super risky )

and with 3 high probability trade a day within 30 minute - 1 hour you are done with your +20 pip after deduct commission its almost ~$13-$14 ...... That is allot of money for those who can only afford ~$400 to open account.
Quoting italianfx
maybe I'm doing something wrong, but it seems to me that trading with Oanda is much easier than trading with EFX. Oanda has now a fix spreed of 2 pips, in EFX I see 2 pips spreed 70% of time and we also have 1.6 pips to pay for commission, so most of time I have to pay 2,6 to 3,6 pips with EFX.
In a 5 pips range, with Oanda we can earn 3 net pips whilst with EFX 2,4 to 1,4.
Also, Oanda is always lagging and if you look at EFX data you can anticipate many Oanda moves. Many times I think to go back to trade with Oanda.



PS. I'm trading only High probability setup also for this reason, it's better to trade less and go for more pips per trade.

Let me know what do you think!

Thanks

Alessandro
i absolutely agree,

oanda is lagging so you lose a couple of pips on every trade you execute on efx/mbt. i however have a feeling oanda will not let you make money since they are a bucketshop
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  •  Yuppie
  • | Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Mood! Not my mood, but the mood of the pair in question...

I started today, with yesterday still clearly in my head [a *lucky* +155 straight off the bat on my first trade of the day]...

I don't mean over-confidence, I mean I assumed the market was going to be acting similarily today... lack of experience in knowing that a pair has a whole variety of different moods...

I made 4 trades during the first hour of the london session, expecting price to continue every time - it did, initially, but pulled back, dropped me off, and continued on it's merry way... E/J was very tentative today... when compare to yesterday... Be more aware of how the pair is acting, what did it do before session open? Was it still? Was it wild?... Observe...


There are a couple of excellent posts in nhallmark's Journal relating to this very thing...

More screen time...

[no trades really worth posting, was down -31 at one point (12 trades), managed to get myself another +30 and +6, so up +5 pips for day - I am VERY pleased with that - it's all relative - when you're down -31, being even break-even is great :]
Hello Syafi,

I am doing 50-90 trades per day.

I am still in the practicing period.
I win the first hour (most of the times) and loose win during the day.(almost all days negative due to overtrdading)

It is not question of money ,it is matter of confidence and discipline.
I still don't have it.
I have a long way to march. In August I knew only the forex word,lol.

I am still in kindengarden.

When I say big boys I mean above 25.000$ in order to cut commissions and play with a lot of lots in the first hour.

I suppose LT is doing this.He has a serious capital and he jeopardize the 2-3% only in the first hour in the highest prob setup with 20-50-100 lots.If it doesn't saw up he will not play at all.From the 25 working days he wins the 22.That is 90% winning. He takes 2-3 pips and goes to the golf court.Then he does the Moe visualization.LOL.
It is like the best brain surgeon of the world.He has studied for 20 years and then makes a successful operation once a month.
In the evening he start up his "playstation" account and he make some aggresive training setups etc.

Thank you

Basil
Learn something difficult and earn real money for ever, a lot.
Quoting eyecelll
i absolutely agree,

oanda is lagging so you lose a couple of pips on every trade you execute on efx/mbt. i however have a feeling oanda will not let you make money since they are a bucketshop

I have the same feeling! Now I'm learning to enter when EFX price cross H/V-Lines not waiting for Oanda, maybe it can work!
Quoting Yuppie
[no trades really worth posting, was down -31 at one point (12 trades), managed to get myself another +30 and +6, so up +5 pips for day - I am VERY pleased with that - it's all relative - when you're down -31, being even break-even is great :]
EURJPY dropped 200 pips in 30 minutes yesterday. That was exceptional move but there were many screenshots posted. Day like today is more common. That's why it would be more beneficial to see today's trades posted by more exprienced rainbow traders.
Quoting italianfx
I have the same feeling! Now I'm learning to enter when EFX price cross H/V-Lines not waiting for Oanda, maybe it can work!
yeah, i'm watching both mbt price and oanda rainbow

just to make sure: oanda doesnt have a type or drawing on chart tool right? at least i couldnt find one. i'm using vertical trend lines for entry/exit and then draw the amount of pips i make/lose in paint
"Nothing is unexplainable, Everything is mystery" W. Liquorman
Quoting eyecelll
yeah, i'm watching both mbt price and oanda rainbow

just to make sure: oanda doesnt have a type or drawing on chart tool right? at least i couldnt find one. i'm using vertical trend lines for entry/exit and then draw the amount of pips i make/lose in paint

yes I'm doing the same, I use Paint. Does anyone know a nice little program to write on my chart without covering it with white window? I prefer to write using the same backgound!

Thanks!
Quoting italianfx
Does anyone know a nice little program to write on my chart without covering it with white window?
I think most graphic software can do that.
I use IrfanView. Just Google it.
I like it and it is free but there are tons of other free software that can do it also.

Arctic4x

PS: (Edit) You can do that in Paint also..
Quoting atomz
EURJPY dropped 200 pips in 30 minutes yesterday. That was exceptional move but there were many screenshots posted. Day like today is more common. That's why it would be more beneficial to see today's trades posted by more exprienced rainbow traders.

I'm not an experienced rainbow traders but this is how I see high probability setup. I still miss many entry because I wait too much for confirmation. I need more confidence.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5 sec 12-13.jpg Size: 110 KB
Click to Enlarge Name: 5 sec 13-14.jpg Size: 145 KB
Click to Enlarge Name: 5 sec 14-15.jpg Size: 124 KB
Quoting italianfx
yes I'm doing the same, I use Paint. Does anyone know a nice little program to write on my chart without covering it with white window? I prefer to write using the same backgound!

Thanks!
I like the old, ulead iphoto express, its small & no need istallation, can just put it in a folder and it will run, but it dont support direct paste.... +
Quoting Arctic4x
I think most graphic software can do that.
I use IrfanView. Just Google it.
I like it and it is free but there are tons of other free software that can do it also.

Arctic4x

PS: (Edit) You can do that in Paint also..

How to add text in irfanview ?
Quoting Syafi
How to add text in irfanview ?
Ctrl+T
Quoting Arctic4x
Ctrl+T


..... Life much easier thanks to you.

.......................................................................

maybe I was asleep but actually I was busy piling up my demo account and didnt do it on my live account as well. Oh Well price move much much more now..... after I post this...... hehe...
Attached Image
I get a lot of mixed reviews about Oanda and EFX. May people say that you can not make money with Oanda because it is a market maker/bucket shop and they have fixed spreads.

Then I hear many people say that EFX you wind up paying to much in commissions that winds up taking to much of your profits.

I would like the whole group to comment on this one.

Are there any members making money using Oanda paying fixed spreads???????


Thanks,

DeeNY
Ok now I'm using ACDSee
Attached Image (click to enlarge)
Click to Enlarge Name: 5 sec 15-16.jpg Size: 179 KB
  •  Yuppie
  • | Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Not experienced, but here are [most of] my "trades" for today...

The Good, The Bad, and downright UGLY...

Check out the differences between Alessandro take on the same chart areas...

Interesting to see how our thoughts are different... :


Magnus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Trades_4.gif Size: 171 KB
Click to Enlarge Name: Trades_5.gif Size: 172 KB
Attached Image
Quoting atomz
EURJPY dropped 200 pips in 30 minutes yesterday. That was exceptional move but there were many screenshots posted. Day like today is more common. That's why it would be more beneficial to see today's trades posted by more exprienced rainbow traders.
yes... but... with moves like that you can catch enough pips for 2 weeks of trading
good for scalping cause it shows you the daily "score" in green or red. Wish there was an option to display the net profit though.
Quoting italianfx
Ok now I'm using ACDSee
Grazie Italianfx, your screens are logical and educational. European afternoon seems to be more fruitful today. BTW I took the same entry.
Attached Image (click to enlarge)
Click to Enlarge Name: 20071016-5sec-eurjpy01.png Size: 29 KB
0 traders viewing now