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Linuxtroll Simple Scalping

  • #521
  • Aug 23, 2007 3:36am Aug 23, 2007 3:36am
Quoting Stan
No! I want More!
It gave 191 pips within four hours... LoL

http://img120.imageshack.us/img120/2339/e09pa9.png
  • #522
  • Aug 23, 2007 3:37am Aug 23, 2007 3:37am
Quoting FXSurfer
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!
Then you are not trading Rainbow... LoL
  • #523
  • Aug 23, 2007 3:40am Aug 23, 2007 3:40am
Quoting Bruno
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
Charge on... We can capture big moves from 5 sec too... That's why you must master Rainbow... See the example live trade above...
  • #524
  • Aug 23, 2007 3:43am Aug 23, 2007 3:43am
Quoting Stan
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.
Spine entry is a very conservative entry for new scalper... You can use aggressive entries as soon as you master the Rainbow... You can also capture big moves... I will explain everything in my e-book soon...
  • #525
  • Aug 23, 2007 3:47am Aug 23, 2007 3:47am
Quoting ycomp
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!
Do not worry Y... More opportunities will come down the road... When you trade from 5 sec; you see similar moves everyday... You do not need to capture entire move... High probability scalping is good enough... If you have the nerves, you can ride the Rainbow wave until you see the exit sign... LoL
  • #526
  • Aug 23, 2007 3:49am Aug 23, 2007 3:49am
Quoting comfy
me newbie here, what is this rainbow concept...can I use it with Saxo bank?
thanks!!
Yes... plot the WMAs and save the template...
  • #527
  • Aug 23, 2007 3:54am Aug 23, 2007 3:54am
Now you know how you can capture more pips by using Rainbow on 5 sec chart - almost everyday... LoL

http://img178.imageshack.us/img178/4937/e10pq6.png
  • #528
  • Aug 23, 2007 3:57am Aug 23, 2007 3:57am
Quoting linuxtroll
Do not worry Y... More opportunities will come down the road... When you trade from 5 sec; you see similar moves everyday... You do not need to capture entire move... High probability scalping is good enough... If you have the nerves, you can ride the Rainbow wave until you see the exit sign... LoL
sorry that came across wrong what I wrote... I just meant like "wow, it's still going higher... after 300 pips!". I was happy with the 100 pips for sure.

Well once you get 50+ pips in the money, it is easier to have such nerves
  • #529
  • Aug 23, 2007 5:08am Aug 23, 2007 5:08am
Quoting linuxtroll
Spine entry is a very conservative entry for new scalper... You can use aggressive entries as soon as you master the Rainbow... You can also capture big moves... I will explain everything in my e-book soon...
Thanks.
I, and I am sure many others are anxious for your e-book.
What I have noticed about this method is the difference between "speculating" and "scalping"
Speculating is defined as "To engage in a buisness venture offering the "possibility" of a large profit"
Scalping, is in Forex, allowing the market to determine when and where it wants to move, and as it moves, you jump on quickly for a short ride, and get off before it turns on you. (high probability)
The beauty of this method is not having to speculate (using possibilities) but allowing the market to reveal it's Probabilities.
  • #530
  • Aug 23, 2007 6:56am Aug 23, 2007 6:56am
Wow an e-book, can't wait.
  • #531
  • Aug 23, 2007 10:15am Aug 23, 2007 10:15am
Quoting linuxtroll
Then you are not trading Rainbow... LoL
Absolutely! My problems are all common NB mistakes and lack of
experience. Nothing at all to do with the methodology! If fact,
it's really great to have such a clear-cut method to gain trading
skills with. Instead of constantly tweaking indicators etc.
Best of all is seeing others coming along so well here! I'll get there!
  • #532
  • Aug 23, 2007 9:15pm Aug 23, 2007 9:15pm
You can scalp anytime...

http://img463.imageshack.us/img463/1482/e11ep2.png
  • #533
  • Aug 23, 2007 9:38pm Aug 23, 2007 9:38pm
Tricky entry, but if you stay with the spine direction - you will get several chances to get out with 1 or more pips...

http://img181.imageshack.us/img181/4106/e12zt8.png
  • #534
  • Aug 23, 2007 9:41pm Aug 23, 2007 9:41pm
Went up as expected...

http://img370.imageshack.us/img370/8148/e13vr9.png
  • #535
  • Aug 23, 2007 10:24pm Aug 23, 2007 10:24pm
Another high risk entry - but many chances to exit with several pips... Even in a slow market condition... stayed intentionally and exited with 3 pips at the last moment before the opposite move...

http://img329.imageshack.us/img329/1275/e14dk3.png
  • #536
  • Aug 23, 2007 10:36pm Aug 23, 2007 10:36pm
Stay out and watch or go to bed...

http://img187.imageshack.us/img187/820/e15cv7.png
  • #537
  • Aug 23, 2007 11:35pm Aug 23, 2007 11:35pm
Linuxtroll,
I see on some of your posted charts you have little arrows.
Did you add them or are they a signal.
If a signal, is it usable on Oanda?
Thanks
  • #538
  • Aug 23, 2007 11:47pm Aug 23, 2007 11:47pm
linux, sorry for asking, but can you show us a bad trade and when did you exit (and why)?
  • #539
  • Aug 24, 2007 12:02am Aug 24, 2007 12:02am
Quoting Stan
Linuxtroll,
I see on some of your posted charts you have little arrows.
Did you add them or are they a signal.
If a signal, is it usable on Oanda?
Thanks
Hi Stan, the little arrow are Entry and Exit on Oanda platform for each trade.

Linuxtroll these example with entry and exit and explanation are very usefull, thanks a lot.



Alessandro
  • #540
  • Aug 24, 2007 12:06am Aug 24, 2007 12:06am
Quoting linuxtroll
You can scalp anytime...
Many thanks for posting your trades!
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