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  • #621
  • Aug 26, 2007 8:33pm Aug 26, 2007 8:33pm
First scalp = domination +25
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  • #622
  • Aug 26, 2007 8:47pm Aug 26, 2007 8:47pm
2nd scalp = ownage +40

you're awesome linuxtroll.
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  • #623
  • Aug 26, 2007 8:58pm Aug 26, 2007 8:58pm
I just did my first RAINBOW assault today demo'ing. Within a half hour I had 20 pips, trading between 3 or 4 currencies, and these all had large spreads (FXCM demo, so like 3 pip spread AT BEST).

Right now, I have scalped 14x for profit, with a grand total of 30.2 pips, yet I remain confused as to how this all happened, and if how i did it was proper rainbow methodology.
Of my 14 scalps, I once took 5 pips, on average I set limits at 2-3 pips, and at the end of my "designated 1/2 hour" I lowered my open positions to 1 pip limit and they eventually closed.

Now - I was placing NO STOPS... is this improper for this method of scalping?
I used a minute chart with the "MA every 6 periods *24 - 144)

Basically, I looked for the MA's to all head in one direction, and be pretty much equidistant.
Yet, I still feel like I was lucky, and not placing stops is kind of a joke. There were times I -6 to 8 pips before going where I want it, and a few times I reached -15-18 pips, and once I went in on EUR\GBP and was minus 8 pips which would have eliminated ALL PROFIT.

kharvell, perhaps you can enlighten me as to how you about this differently?
"Please sir, may I have some more pips?"
  • #624
  • Aug 26, 2007 9:08pm Aug 26, 2007 9:08pm
and then i was -25 pips, hedged myself in, so I was at +4 -25, for a net -21. Then accidentally closed all positions. Goodbye pips! net scalping profit from rainbow so far, 9.5 pips.
"Please sir, may I have some more pips?"
  • #625
  • Aug 26, 2007 9:13pm Aug 26, 2007 9:13pm
3rd scalp.... 36 pips
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  • #626
  • Aug 26, 2007 9:19pm Aug 26, 2007 9:19pm
what broker and charting program is this pip magic happening thru kharvell? How many scalps happen within these posted pics?
"Please sir, may I have some more pips?"
  • #627
  • Aug 26, 2007 9:21pm Aug 26, 2007 9:21pm
4th scalp... 11 pips...
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  • #628
  • Aug 26, 2007 9:22pm Aug 26, 2007 9:22pm
Quoting J2FcM
what broker and charting program is this pip magic happening thru kharvell? How many scalps happen within these posted pics?
I use Oanda, like most here... I actually have an account with them though. And I'm numbering my scalps as I go
  • #629
  • Aug 26, 2007 9:27pm Aug 26, 2007 9:27pm
oh ok, I thought each picture may show a time period of scalping. But in fact you have only made 4 scalps today, where as I've made 16, with 1 very unsuccessful one.


So, I guess a better question is, what do the markings on your pictures represent?
"Please sir, may I have some more pips?"
  • #630
  • Aug 26, 2007 9:32pm Aug 26, 2007 9:32pm
Quoting J2FcM
oh ok, I thought each picture may show a time period of scalping. But in fact you have only made 4 scalps today, where as I've made 16, with 1 very unsuccessful one.


So, I guess a better question is, what do the markings on your pictures represent?

Ermmm... the orangy down arrows are Short entries, the Reddish circles are S/L's being hit, and blue up arrows are Long entries.

and I'm lazy; 16 trades is too much for a lazy guy
  • #631
  • Aug 26, 2007 9:53pm Aug 26, 2007 9:53pm
Well done Kharvel, that is scalping at its best, make the pips going down, and then make some more going up.

But a bit too braveheart for me, to have gbp/jpy on a 5 sec chart.

Well done.

Cheers,
K.
  • #632
  • Aug 26, 2007 9:59pm Aug 26, 2007 9:59pm
Quoting kermut
Well done Kharvel, that is scalping at its best, make the pips going down, and then make some more going up.

But a bit too braveheart for me, to have gbp/jpy on a 5 sec chart.

Well done.

Cheers,
K.
It's a shame... I've been trading GBP/JPY for a while, so I sort of know how it feels already(driving my car(GBP/JPY experience) around on the rainbow that linuxtroll paved for me).

I just got 9 pips from 2 scalps here, market is a little choppy
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  • #633
  • Aug 26, 2007 10:10pm Aug 26, 2007 10:10pm
20 more pips, and I will stop posting because I am clogging the thread... Thanks linuxtroll
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  • #634
  • Aug 26, 2007 10:15pm Aug 26, 2007 10:15pm
So on that last picture, were you hedging, so those 2 shorts were losses? Also, did you not set stops and limits there and just took when intuition told you to?
"Please sir, may I have some more pips?"
  • #635
  • Aug 26, 2007 10:17pm Aug 26, 2007 10:17pm
Quoting J2FcM
So on that last picture, were you hedging, so those 2 shorts were losses? Also, did you not set stops and limits there and just took when intuition told you to?
No, the first red down arrow is a sell, and I exit it at the next blue up arrow for +3 pips. Later on, I enter again at the next red arrow, and exit at the blue arrow for 6 pips.

Oh and stops, I use 10 pips plus spread, so 15-16 for GBP/JPY.
  • #636
  • Aug 26, 2007 10:23pm Aug 26, 2007 10:23pm
Quoting kharvell
20 more pips, and I will stop posting because I am clogging the thread... Thanks linuxtroll
I don't think anyone's counting, Kevin.
Except to add up your pips!
It really takes you a while to catch on. LOL!
I, for one, really like seeing the play-by-play.
Many Thanks!
  • #637
  • Aug 26, 2007 10:25pm Aug 26, 2007 10:25pm
scalp... scalp... scalp....
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  • #638
  • Aug 26, 2007 10:29pm Aug 26, 2007 10:29pm
Quoting kharvell
It's a shame... I've been trading GBP/JPY for a while, so I sort of know how it feels already(driving my car(GBP/JPY experience) around on the rainbow that linuxtroll paved for me).

I just got 9 pips from 2 scalps here, market is a little choppy
That is what screen time means. I know exactly what you mean. I love trading the gbp/jpy as well, but I trade on the 5M and mostly trade eur/jpy instead. It has all the moves that gbp/jpy does but less spread, so you are in profit much quicker. Maybe you could take the pics of ur trades and put them up as one zip file at the end of the day. The way you are going, we could have several pages of your trades, lol.

Now I know why they say a gooooood scalper can make over 100pips per day!!!

I think I might have to force myself to spend some time watching the rainbow on the beast. My needs are quite small, 10-20 pips on a day and I would not trade again, usually.

Keep it up, though I think the market might quiten down now in anticipation of london open. It is past lunch time here in australia as well.

Cheers,
K.
  • #639
  • Aug 26, 2007 11:10pm Aug 26, 2007 11:10pm
if you are using EFX you can use the free chart http://www.quotetracker.com

there's 5 sec chart with EFX data...

using oanda data might not be as accurate

anyone using?
  • #640
  • Aug 26, 2007 11:11pm Aug 26, 2007 11:11pm
Quoting kharvell

Oh and stops, I use 10 pips plus spread, so 15-16 for GBP/JPY.

meaning the currency pair has a spread that big (I dont think this is what you mean, but making sure)...

or that your stops are a total of 10 pips... so the currency spread is 3, you make a 7 pip stop? Or is it just a default 10 from where you entered?
"Please sir, may I have some more pips?"
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