Linuxtroll Simple Scalping

Quoting hensch

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Have you gone, at least, through the first pages of this thread? Everything you need is on the first pages.

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Quoting hensch

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IMHO, you're being too rigid, it's OK to be aware of certain levels, but the
flame has the last word, if it goes against you or you don't feel well about the
trade... get out! PROTECT PROFITS!!!

And for heaven sake, don't try to predict or force price to go your way (pivot
points). The market has his own mind.

This thread is named "Linuxtroll Simple Scalping" not "Linuxtroll Trend
Following". A 20 or 40 pip move is more than welcomed, but be aware of reversals
before all your profit turns into thin air really fast.

Hope this helps!

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Quoting maxcruiver

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The rainbow is a combination of MAs? so how can I trade using it? Where is the entry point? I'm using the template named MA-1200cor on page 83, can I ask why the sequence of the MA periods have to be 1,2,4,6,8,10,13,16.......,1194?

Thanks.

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Quoting maxcruiver

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The rainbow is a combination of MAs? so how can I trade using it? Where is the entry point? I'm using the template named MA-1200cor on page 83, can I ask why the sequence of the MA periods have to be 1,2,4,6,8,10,13,16.......,1194?

Thanks.

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Quoting Yuppie

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Thank you henry.

I think I am using these levels as crutches [which is quite ironic really as I have been on crutches for the last 3 weeks after spraining my ankle playing squash :] just now. "the flame has last word" - this I understand...

But if price has reacted to an area in the past, I find it helpful to get a [potential] heads-up...

So, yes, I do factor in S/R levels quite significantly, but like you advise, I am watching the flame at these points...

Too rigid? That is very good wording. I defintely agree with that. Hoping that once I have more experience of the Rainbow that I can maybe, loosen up a bit... Just now I am finding that just using Rainbow only leaves me in the dark... I feel quite uncomfortable with it on it's own...

Thanks for your comments Henry, they are very welcome.


Magnus

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Quoting hensch

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I watch my levels too, but how many time price stops before reaching a certain level, retraces 10, 15 or 20 pips and resumes it's way?

Thing is if your pip is worth 0.0001 cent, maybe you fool yourself to think that that's OK to stay in the market during the retracement, but at $50 or $100 a pip....

Hope you get my point.

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Quoting Blazer

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Goodmorning Yuppie,

Take the yatagan setup and make it a big poster.
It will be your money making machine for the rest of your life.
After yatagan it forms to Saudi Arabia and you pump 10-15 barells of oil,eeEEEE PIMPS ,PIPS I wanted to say .LOL

Basil

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Quoting Yuppie

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Definately understand what your saying.

For example, Tuesday, big drop at London open...

The market was a real mover that day. Price would slow at S/R point retrace, then continue on its way. I held my short position 'til the end of the run on Tuesday, even though there was more than one 20+ pip retrace.

Today and yesterday, the market is more tentative. Respecting S/R more that it did on Tuesday.

My thoughts are that some days S/R will be more significant than others. The key is in evaluating the mood of the market.

Well, these are some of my thoughts on it. Would love to hear more of yours.


Magnus

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Quoting bisar_x

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That template is useless, I mean is only for good looking, just manually put 1-240 WMA on your chart. The intervals between them is up to you.

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Quoting hensch

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Trade what you see, not what you think. That's all there is to it.

S/L, Fibs, Pivots all OK to be aware of (what you think= subjective).

Flame= the real thing.

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Quoting maxcruiver

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http://img520.imageshack.us/img520/5997/rainbowid1.gif

You stated WMA, do u mean Linear Weighted? I use 10,20,30,40....240 meaning total of 24 MAs, like in the picture attached above, is that ok? You havent taught me when can I take a trade and exit a trade. Thank you.

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Quoting maxcruiver

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You stated WMA, do u mean Linear Weighted? I use 10,20,30,40....240 meaning total of 24 MAs, like in the picture attached above, is that ok? You havent taught me when can I take a trade and exit a trade. Thank you.

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Quoting Yuppie

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Flame is Price. Is it not?

I'm not trying to be purposely pendantic here but are you being Rainbow specific, or is this a generalisation of 'price is all you need'?


Magnus

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Quoting Yuppie

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Flame is Price. Is it not?

I'm not trying to be purposely pendantic here but are you being Rainbow specific, or is this a generalisation of 'price is all you need'?


Magnus

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Quoting Canyouseeme

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Flame = price + a few more mmas

it is also what you would see on a tick chart with 1-144 mmas

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Quoting Yuppie

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Now I'm starting to get this a bit more...

So the flame is not just price line, it is a combination of the first few MAs...

When you talk about the flame spreading out, this is it peeling away from the larger MAs?


Is there a lot more to the flame than I initially anticipated?...

Or is it is it mainly price in relation to the longer MAs?...


Magnus

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Quoting hensch

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"reading the tape" as the most valuable "indicator" a trader can have?

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Quoting hensch

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It does not matter if it's rainbow, or whatever. Every trader/investor sees the same price as you do.

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Quoting Canyouseeme

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Well the "flame" is the red thing dunno which ones exactly but who cares it doesnt really matter. its just about watching the shortterm action.

if the price gains momentum every ma "peels" away.

just stop thinking and start tradinG!

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