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  • #641
  • Aug 26, 2007 11:11pm Aug 26, 2007 11:11pm
Quoting linuxtroll
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...
too bad for them... right now you are growing your "little" army of scalpers.
  • #642
  • Aug 26, 2007 11:24pm Aug 26, 2007 11:24pm
Quoting J2FcM
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?
I think what Kharvel is saying is that his stops are 10 pips plus the spread of the pair. so for gbp/jpy at oanda the spread can range from 4 pips to 7 pips. A few hours ago when he was scalping the spread was 6 pips (I know because I too have an account at oanda). so his his stop is 10 pips + 6 pips for the spread). If you have an absolute stop of just 10 pips, that leaves u just 4 pip of movement before your stop gets hit.

Happy scalping,
K.
  • #643
  • Aug 26, 2007 11:25pm Aug 26, 2007 11:25pm
ahmen!
"Please sir, may I have some more pips?"
  • #644
  • Aug 27, 2007 12:17am Aug 27, 2007 12:17am
Quoting J2FcM
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.
Do not over trade... My e-book will explain and give more guidance...
  • #645
  • Aug 27, 2007 12:20am Aug 27, 2007 12:20am
Quoting kharvell
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
You are OK with one of those trades per day... Do not over trade. But charge on and make money... LoL
  • #646
  • Aug 27, 2007 12:24am Aug 27, 2007 12:24am
Quoting kharvell
20 more pips, and I will stop posting because I am clogging the thread... Thanks linuxtroll
Keep it up and If you can drive GBP/JPY then GBP/CHF is more or less the same kind of a car too... LoL
  • #647
  • Aug 27, 2007 12:27am Aug 27, 2007 12:27am
Quoting Neznaika
scalp... scalp... scalp....
Oh my... My Rainbow has mutated in many shapes and forms... LoL
  • #648
  • Aug 27, 2007 12:29am Aug 27, 2007 12:29am
Quoting kermut
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.
Correction - 300-600 pips per day (depends on the market)...
  • #649
  • Aug 27, 2007 12:32am Aug 27, 2007 12:32am
Quoting hanz
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?
Not even close to Oanda charts or feed...
  • #650
  • Aug 27, 2007 12:39am Aug 27, 2007 12:39am
Quoting linuxtroll
Not even close to Oanda charts or feed...
I often have a difference in price between EFX and OANDA.
Which is right?
  • #651
  • Aug 27, 2007 12:49am Aug 27, 2007 12:49am
Quoting FXSurfer
I often have a difference in price between EFX and OANDA.
Which is right?
Will always be the case. Oanda price skews against the direction of the move. Esp if you are in the trade. I have seen this, has happened to me, I have mbt account(live, but do not use atm) and oanda account. I have seen several times price shoot down 2-4 pips, and oanda price holding, when I am in a trade. It is like they are waiting for it to retrace, and it is even more pronounced if you are near your tp order. If it does not retrace, then the price will jump 2-4 pips and go thru your tp. Also with oanda, their tp order triggering seem to be such that price has to go thru your price for it to be triggered. I have been caught out on this several several times, until i realised what was happening.

Mbt/efx price servers/hubs seem to be extermely fast at updating prices, so you will always see faster movement there than at oanda.

Cheers,
K.
  • #652
  • Aug 27, 2007 12:51am Aug 27, 2007 12:51am
Quoting linuxtroll
Correction - 300-600 pips per day (depends on the market)...


Man, I am way behind the eight ball then. Better pick up the pace on that screen time.

K.
  • #653
  • Aug 27, 2007 1:25am Aug 27, 2007 1:25am
I have been scalping the 1MIN-5MIN for some time, but recently started watching the 5 Second chart.

Talk about getting slapped upside the head quick, this thing will put the move on so fast, you don't have time to blink. LOL

I plan to continue screen time for the next 30 days during the London and NY session, and hopefully when the screen time is done, I can muster enough energy to press the buy/sell button before the rainbow dissapears from the screen.

Thanks for all the Post and Chart pictures, they help me a lot.

Thanks LT, once again, I am dazzled by your ingenuity.

Ken
  • #654
  • Aug 27, 2007 1:28am Aug 27, 2007 1:28am
Quoting kermut
Will always be the case. Oanda price skews against the direction of the move. Esp if you are in the trade. I have seen this, has happened to me, I have mbt account(live, but do not use atm) and oanda account. I have seen several times price shoot down 2-4 pips, and oanda price holding, when I am in a trade. It is like they are waiting for it to retrace, and it is even more pronounced if you are near your tp order. If it does not retrace, then the price will jump 2-4 pips and go thru your tp. Also with oanda, their tp order triggering seem to be such that price has to go thru your price for it to be triggered. I have been caught out on this several several times, until i realised what was happening.

Mbt/efx price servers/hubs seem to be extermely fast at updating prices, so you will always see faster movement there than at oanda.

Cheers,
K.
yeah I was wondering about that too... I was thinking maybe later getting my programmer to duplicate OANDAs charting for me (I mean something similar) but have it hook up to an MB Trading feed. Really like OANDA's charting... real easy on the eyes.
  • #655
  • Aug 27, 2007 1:45am Aug 27, 2007 1:45am
Is this of any use on 5 Sec. Rainbow Scalping?
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  • #656
  • Aug 27, 2007 1:51am Aug 27, 2007 1:51am
I have bad day, not waiting for the best setup...
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  • #657
  • Aug 27, 2007 1:56am Aug 27, 2007 1:56am
The best setup being all lines fanning out in one direction?

Bad to rainbow trade on off hours?
"Please sir, may I have some more pips?"
  • #658
  • Aug 27, 2007 2:08am Aug 27, 2007 2:08am
Keep it up, though I think the market might quiten down now in anticipation of london open.

Quick note for Kermit, there is no "London Open" today, its a bank Holiday.
  • #659
  • Aug 27, 2007 2:18am Aug 27, 2007 2:18am
Quoting linuxtroll
Not even close to Oanda charts or feed...
http://img14.imgspot.com/u/07/238/04/Untitled.png

Look

It Is Live Data (real account)
  • #660
  • Aug 27, 2007 3:01am Aug 27, 2007 3:01am
Quoting ycomp
yeah I was wondering about that too... I was thinking maybe later getting my programmer to duplicate OANDAs charting for me (I mean something similar) but have it hook up to an MB Trading feed. Really like OANDA's charting... real easy on the eyes.
ok, I guess I'm not serious about that because I would end up being disappointed that the charts didn't look quite as nice as OANDAs...

I had just woken up so wasn't thinking straight
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