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  • #501
  • Aug 22, 2007 2:41pm Aug 22, 2007 2:41pm
Quoting Stan
This thread has been here for a little over a month now and I am curious how many people that started this are still using it either with live, demo or screen timing it.
Understandably, it is not for everyone in that you pretty much must develop your own rules, and that is against what most of us were taught upon entering forex. We were taught, "If you follow the rules, you will be rich"
I for one, am trading the rainbow exclusively and am still at or better than 90% winning trades. (still working on not allowing the few losing trades take my gains)
Thanks to Linuxtroll for his input and ecouragement to all that are truly interested in learning this method.
In the words of the master, "Cheers and charge on"
I have been watching the screen to learn the rainbow for a while now, since the start of this thread pretty much. This week I started trading it seriously and so far so good. I'm only looking for a bout 10 pips per day and once I get it I either head back to bed, or if it's too late already I get to my dayjob and put in my eight hours there. I really like this trading style, becuase of how fast you are in and out of a trade. I worry too much when in a longer term trade.

Quoting linuxtroll
Keep track of the time...

No problem with the Oanda feed... Check your connection speed and increase your computer memory... If no improvement - try their desktop version...
Likuxtroll, I wasn't aware of Oanda having a desktop platform. Can you instruct me on how to get it? Thanks.

Pip on.

oo7_ts
  • #502
  • Aug 22, 2007 2:56pm Aug 22, 2007 2:56pm
Quoting Stan
This thread has been here for a little over a month now and I am curious how many people that started this are still using it either with live, demo or screen timing it.
Understandably, it is not for everyone in that you pretty much must develop your own rules, and that is against what most of us were taught upon entering forex. We were taught, "If you follow the rules, you will be rich"
I for one, am trading the rainbow exclusively and am still at or better than 90% winning trades. (still working on not allowing the few losing trades take my gains)
Thanks to Linuxtroll for his input and ecouragement to all that are truly interested in learning this method.
In the words of the master, "Cheers and charge on"
Stan, congratulation to your results. Would it be possible for you to attache few screens from time to time?
Regards Bruno
  • #503
  • Aug 22, 2007 3:25pm Aug 22, 2007 3:25pm
Quoting JazzmanQ2
I've givenup on all my other indicators! I am a full time rainbow surfer with great results!
Wonderful Q!

I've also joined the cult of the rainbow!

One thing that I've noticed though is that it has
much improved my ability to see what other indicators
are doing. Which is of course not to say that I ever
sneak a look at other methodologies once in a while.
Don't tell LT. He might make me drink some kool-aid. LOL
  • #504
  • Aug 22, 2007 3:49pm Aug 22, 2007 3:49pm
anyone got a good broker for scalping... im currently with fxcm...
  • #505
  • Aug 22, 2007 9:56pm Aug 22, 2007 9:56pm
Quoting PipBuLL007
anyone got a good broker for scalping... im currently with fxcm...
Not sure about your capitalisation pip but I would suggest you start with efx/mbt.

I was a big big fan of oanda, until yesterday. I had my tp order sitting at +10, price went to it and then sat there, but didn't close. I saw this in my trades window. It took me some time to work it out, but this is how they work. If you have a tp at xx.20 the tp is triggered when it goes to xx.19 Yeap, that is correct.

Efx/mbt have a very very good price updating server, and prices are very reflective of real prices. Spreads are one of the best. But commission is a bit high, but you can build that into your tp and build capital from there. Oanda skews prices against your trade direction horribly. Had read it a lot about them, but never believed it since I traded longer term before. Now that I am scalping, it is so obvious, it is not funny.

Good luck with the rainbow.

Regards,
K.
  • #506
  • Aug 23, 2007 12:06am Aug 23, 2007 12:06am
We do not need luck with Rainbow Scalping...

http://img297.imageshack.us/img297/3245/e01xr6.png
  • #507
  • Aug 23, 2007 12:09am Aug 23, 2007 12:09am
http://img72.imageshack.us/img72/8425/e02mn0.png
  • #508
  • Aug 23, 2007 12:25am Aug 23, 2007 12:25am
http://img166.imageshack.us/img166/9444/e03nq8.png
  • #509
  • Aug 23, 2007 12:31am Aug 23, 2007 12:31am
http://img187.imageshack.us/img187/8164/e04ie4.png
  • #510
  • Aug 23, 2007 12:42am Aug 23, 2007 12:42am
30 pips on this one...

http://img293.imageshack.us/img293/4315/e05jw4.png
  • #511
  • Aug 23, 2007 12:51am Aug 23, 2007 12:51am
http://img529.imageshack.us/img529/3848/e06ax0.png
  • #512
  • Aug 23, 2007 1:02am Aug 23, 2007 1:02am
More pips... LoL

http://img528.imageshack.us/img528/1185/e07ug0.png
  • #513
  • Aug 23, 2007 1:06am Aug 23, 2007 1:06am
Enough for the day?

http://img245.imageshack.us/img245/6811/e08rj3.png
  • #514
  • Aug 23, 2007 1:21am Aug 23, 2007 1:21am
Quoting linuxtroll
Enough for the day?
No! I want More!
  • #515
  • Aug 23, 2007 1:39am Aug 23, 2007 1:39am
Hi LT, could you illustrate your exact entry and exit in one of those screenshots thanks.
Would love to see how the master does it.
I want to trade just like you Master. ...lol
  • #516
  • Aug 23, 2007 2:16am Aug 23, 2007 2:16am
Quoting linuxtroll
http://img72.imageshack.us/img72/8425/e02mn0.png
me newbie here, what is this rainbow concept...can I use it with Saxo bank?
thanks!!
  • #517
  • Aug 23, 2007 3:22am Aug 23, 2007 3:22am
Quoting linuxtroll
We do not need luck with Rainbow Scalping...
I must admit that at my beginning level, most wins
are still luck. There are some trades that have a glimmer
of skill but, not many. I'm only on demo and I plan on
moving up in very gradual steps with a real account.
So, it's not a big deal right now. But, I need so much more
skill than I have now that I'll be glad to see even some
improvement! Just being honest!
  • #518
  • Aug 23, 2007 4:04am Aug 23, 2007 4:04am
Rainbow absolutely changed my thinking about trading. Long timeframe trading...why? I remember very well my commodity spread trading two years ago - close my 5 weeks position with 550$ loss... I was every day very nervous and want to close this trade. In Forex I was not able to make with 4H TF or daily some pips - sometimes big gains more often big losses...

I am so happy to trade with Rainbow, but still have some psychical problems that I can be out for the day with 1-6% of my account in 30 minutes....

Live is too short, now I have truly visions and plans.
Many thanks Mr. Linux again
Bruno
  • #519
  • Aug 23, 2007 4:46am Aug 23, 2007 4:46am
Linuxtroll,
This is a question to an observation I have noticed.
I am trading E/J 5 sec. exclusively, and what seems to happen a few times a day is this...
The price will be somewhat consolidated, perhaps 15-30 pips or so, and suddenly the price just takes off!
The thing I seem to notice is by the time the spine and the WMA's are lined up, there is already 25 pips or so gone, but if I jump in on the initial spike, it is an easy 10-??? pips.
I guess my question is, is this a legitimate observation, or do you think it is still best to wait for the spine H/V?
It is kind of hard to explain what I have been seeing and trading, but by just sitting and waiting for a break out sure seems to be working.
Any thoughts or warnings on this in your experiences?
(By the time I typed this, the 14 pips I just made could have been more, as it continued to move another 70 pips, but oh well.)
Thanks,
Stan
Correction: It has moved nearly 200 pips! I sure wish I knew how to stay in these. I've been known in times past to stay in moves this good...only it was losses for me and not profits.
Hey, but at least I am not having those BIG losses as I once did. If only I could have my wins as great as the losses I have had.
  • #520
  • Aug 23, 2007 5:06am Aug 23, 2007 5:06am
jumped in wayyyyy late and still got 100 pips out of GBPJPY in a single trade ... some of you lucky guys probably caught the entire 300+ pip move. Damn now it's another 25 pips above where I got out. Correction: now it's 50 pips above where I got out!
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