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Linuxtroll Simple Scalping

  • #601
  • Aug 26, 2007 5:30am Aug 26, 2007 5:30am
what the rainbow started to show saying ?
Attached Image (click to enlarge)
Click to Enlarge Name: what it say.jpg Size: 84 KB
  • #602
  • Aug 26, 2007 6:18am Aug 26, 2007 6:18am
i think this method only can be traded using currency futures or ECN

with BIG Equity to hunt for 1pip 100 USD
  • #603
  • Aug 26, 2007 6:27am Aug 26, 2007 6:27am
Quoting TheOne
Here you go italianfx. Hope this helps.
hey thanks....

it's gone on the web (ultimate chance)
  • #604
  • Aug 26, 2007 6:37am Aug 26, 2007 6:37am
Don't know about that hanz, I'm using it with a couple of other indicators with great success on the 1 minutes charts across 12 currency pairs.
  • #605
  • Aug 26, 2007 7:00am Aug 26, 2007 7:00am
Quoting Syafi
Apply @ closed/averaged/bid/ask ?? ?

1 min, because cant understand how to save chart on oanda.
Closed... 5 sec Rainbow... Tools::Save Current Layout
  • #606
  • Aug 26, 2007 7:07am Aug 26, 2007 7:07am
Quoting hanz
i think this method only can be traded using currency futures or ECN

with BIG Equity to hunt for 1pip 100 USD
You are wrong... You can capture any big moves... You can have many trading styles with the Rainbow... One is hunting for small pips...
  • #607
  • Aug 26, 2007 7:10am Aug 26, 2007 7:10am
Quoting Syafi
what the rainbow started to show saying ?
I could have finished 2 buy scalps... LoL
  • #608
  • Aug 26, 2007 7:16am Aug 26, 2007 7:16am
Quoting scorpion
Don't know about that hanz, I'm using it with a couple of other indicators with great success on the 1 minutes charts across 12 currency pairs.

Hi Scorpion,

Do you mind sharing some of the indicators you mentioned. Personally, I am a great fans on Rainbow, I basically combine it with CCI (14 & 6).

Regards
  • #609
  • Aug 26, 2007 7:21am Aug 26, 2007 7:21am
Quoting yyc196
Hi Scorpion,

Do you mind sharing some of the indicators you mentioned. Personally, I am a great fans on Rainbow, I basically combine it with CCI (14 & 6).

Regards
You do not need any indicators... Compare 5 sec Rainbow with CCI 14 on 5 Min chart... Keep it simple...
  • #610
  • Aug 26, 2007 7:39am Aug 26, 2007 7:39am
I know you don't need indicators, you suggested trying the %r as a helper, and it does.

For yyc, I use the rainbow on a 1 minute chart with 25,1,3 stoch thro 25/75 extremes for entry, confirmed with a 50 %r thro -20/-80 extremes in close proximity.

But concentrate on the rainbow, the indicators just help me pull the trigger as I am the worst at talking myself out of an entry which you do not have time to do with the rainbow, you need to just pull the trigger, the indicators just make me do it.
  • #611
  • Aug 26, 2007 7:50am Aug 26, 2007 7:50am
Quoting scorpion
I know you don't need indicators, you suggested trying the %r as a helper, and it does.

For yyc, I use the rainbow on a 1 minute chart with 25,1,3 stoch thro 25/75 extremes for entry, confirmed with a 50 %r thro -20/-80 extremes in close proximity.

But concentrate on the rainbow, the indicators just help me pull the trigger as I am the worst at talking myself out of an entry which you do not have time to do with the rainbow, you need to just pull the trigger, the indicators just make me do it.
Hi Scorpion,

What do you mean by "a 50 %r thro "??? Is it william % range at 50 period???
  • #612
  • Aug 26, 2007 10:04am Aug 26, 2007 10:04am
Do we enter at market or limit or stop ......

its so funny, because when i first learn to trade forex, i just watch the 5 minute line chart and sneak into 15,30,1H and 4h once a while. and i made good profits... now i start to look at indicators I start to predict the market and make so much mistake compared to when i start.. maybe because the first time is luck ? ..

thats why I like the rainbow, as it help me see what i saw with the line chart. AND we know whats there under after the rainbow ...

  • #613
  • Aug 26, 2007 10:44am Aug 26, 2007 10:44am
Hey Linuxtroll,

Just finished reading everything you ever wrote(that I could find at least) for the past 8 hours(sad, I know), and I have to say thanks. It looks awesome, and I'm psyched to start my training tomorrow.

I must say I had enjoyed your cryptic responses. So many traders expect the silver platter and fail to use their brains, and I believe you have presented your ideas in a way that fosters ideas and experimentation. In fact, I am almost sorry to see you let up to the relentless newbie onslaught expecting the easy path all the time, but alas, that's another topic and my main point in posting is a big thank you to you.

Regards,

Kevin
  • #614
  • Aug 26, 2007 11:11am Aug 26, 2007 11:11am
Quoting kharvell
In fact, I am almost sorry to see you let up to the relentless newbie onslaught expecting the easy path all the time
Me too! Even though I'm one of them!

Great to have you here K! WELCOME!

ALSO: The thread's at 5 stars now. Where it should have
been from the beginning.
  • #615
  • Aug 26, 2007 12:15pm Aug 26, 2007 12:15pm
Quoting FXSurfer
Me too! Even though I'm one of them!

Great to have you here K! WELCOME!

ALSO: The thread's at 5 stars now. Where it should have
been from the beginning.
Five stars is right. I have always been a fan of scalping so the rainbow is just perfect for me. This method of trading is highly efficient.
Unfortunately I must ask one of those newbie type questions.
LT, I have noticed in some of your screenshots that the price sometimes goes against you somewhat before heading in the intended direction.
What keeps you in when this happens?
I guess what I am asking is when would decide that the market has turned and you need to exit?
  • #616
  • Aug 26, 2007 2:56pm Aug 26, 2007 2:56pm
Quoting kharvell
Hey Linuxtroll,

Just finished reading everything you ever wrote(that I could find at least) for the past 8 hours(sad, I know), and I have to say thanks. It looks awesome, and I'm psyched to start my training tomorrow.

I must say I had enjoyed your cryptic responses. So many traders expect the silver platter and fail to use their brains, and I believe you have presented your ideas in a way that fosters ideas and experimentation. In fact, I am almost sorry to see you let up to the relentless newbie onslaught expecting the easy path all the time, but alas, that's another topic and my main point in posting is a big thank you to you.

Regards,

Kevin
Thanks... Charge on Make Money...
  • #617
  • Aug 26, 2007 2:59pm Aug 26, 2007 2:59pm
Quoting TheOne
Five stars is right. I have always been a fan of scalping so the rainbow is just perfect for me. This method of trading is highly efficient.
Unfortunately I must ask one of those newbie type questions.
LT, I have noticed in some of your screenshots that the price sometimes goes against you somewhat before heading in the intended direction.
What keeps you in when this happens?
I guess what I am asking is when would decide that the market has turned and you need to exit?
Rainbow Spine and my nerve... LoL

Practice... Practice... Practice... Like swinging that golf club... How do I know that the ball is going to fly straight... When should I chock up on the club... LoL
  • #618
  • Aug 26, 2007 4:07pm Aug 26, 2007 4:07pm
Quoting FXSurfer
Me too! Even though I'm one of them!

Great to have you here K! WELCOME!

ALSO: The thread's at 5 stars now. Where it should have
been from the beginning.
The thread was 5 stars before; some idiots who do not want people to know scalping makes money, must have decreased the stars... Go and figure out who...
  • #619
  • Aug 26, 2007 5:41pm Aug 26, 2007 5:41pm
Been playing around with an indicator for cyrox, RainbowArrowsV1. Right now it is basic but you have the options as follows,
FastMa= this is the fastest MA you want to use from a 1 period to a 10 period
Aggressiveness= 1 is the least aggressive and use the 200ma as the largest ma, 5 use the 120ma and steps in increments of 20
MAType is the standard type settings.

Things to do,
Create exit points,
Alerts,
Convert to objects instead of indicators so false signals will be deleted until a confirm at bar close,

IDEAS WANTED
Filters based on only the rainbow to eliminate false signals.

.ex4 only for now until finished.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1m.gif Size: 29 KB
Attached File(s)
File Type: ex4 RainbowArrows_V1.ex4   21 KB | 1,001 downloads
  • #620
  • Aug 26, 2007 8:03pm Aug 26, 2007 8:03pm
Quoting C.E.O.
Been playing around with an indicator for cyrox, RainbowArrowsV1. Right now it is basic but you have the options as follows,
FastMa= this is the fastest MA you want to use from a 1 period to a 10 period
Aggressiveness= 1 is the least aggressive and use the 200ma as the largest ma, 5 use the 120ma and steps in increments of 20
MAType is the standard type settings.

Things to do,
Create exit points,
Alerts,
Convert to objects instead of indicators so false signals will be deleted until a confirm at bar close,

IDEAS WANTED
Filters based on only the rainbow to eliminate false signals.

.ex4 only for now until finished.
Try CCI and Williams %R as filters to give high probability trade signals...
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