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Linuxtroll Simple Scalping

  • #801
  • Aug 31, 2007 12:19pm Aug 31, 2007 12:19pm
Quoting linuxtroll
Oh! People are stalking me? Must hire a bodyguard...

OK... I will make a new avatar or change it to the old animated one soon...
I will protect you.
Even from myself.
  • #802
  • Aug 31, 2007 12:23pm Aug 31, 2007 12:23pm
About the e-book. If its free I'll take it if there is a cost I will buy it. Its that simple.
  • #803
  • Aug 31, 2007 12:23pm Aug 31, 2007 12:23pm
Quoting MasterBlaster
Listen, whether he decides to charge for it or not is no business of ours and says nothing about LT as a person or a trader. He's spent the countless hours building the system, mastering the system, teaching the system, and developing the ebook. If he wants some recompense he has the right.

Try to avoid passing judgment on someone you know nothing about who has contributed to your forex learning experience.

By the way -- I know this is in the mantra in the form of never let a winner turn into a loser, but it has helped me to think of it in this manner when trading the rainbow. In forex, we always hear "Don't be greedy". Well for the rainbow I've modified that statement and put it up on my tradestation --- "Don't be greedy, BE STINGY". Meaning once I've earned a profit I do not want to give very much of it back to the market. Yes, you may only make 5 pips when you could have made 20 but it works the other way as well. You may make 5 pips when you would have lost 12.

Cheers
Absolutely MasterBlaster... Look for 6 pips daily - trading only one currency and you will reap the results... Very simple and easy with Rainbow - That's why the name Linuxtroll Simple Scalping...
  • #804
  • Aug 31, 2007 12:30pm Aug 31, 2007 12:30pm
Quoting FXSurfer
On the subject of TP. Anyone practice Mantra #21?

P.S. Please don't leave us when your website's up, LT!
P.S.S. Nice Home Page.
My home page was on the Internet for so many years... I will always contribute in the forums as usual... I recently changed my homepage to ForEx to promote easy scalping (cyrox.com)... Like I promote easy golfing (cyrox.net)... and I like wine (cyrox.ca)
  • #805
  • Aug 31, 2007 12:39pm Aug 31, 2007 12:39pm
Quoting linuxtroll
scalping (cyrox.com

golfing (cyrox.net

wine (cyrox.ca)
You could combine them and make an interesting website...
and an even more interesting tournament! LOL!

Long Live the Thread!
  • #806
  • Aug 31, 2007 12:45pm Aug 31, 2007 12:45pm
Quoting FXSurfer
You could combine them and make an interesting website...
and an even more interesting tournament! LOL!

Long Live the Thread!
Yes... Scalping tournament with golfing and wine... FxSurfer will host the event...
  • #807
  • Aug 31, 2007 1:02pm Aug 31, 2007 1:02pm
Just wondering if anyone knows if there is a possibility to automate a buy when spread on the navigator is 0 or less, I'm finding it hard to click my mouse that fast Then it usually jumps back up to 2 or more pips and that's when my finger comes down on the button. It would be nice to determine position to buy, then click a buy when spread is 0 or less within a price zone and let the computer click instantaneously (It's a whole lot faster than I am!) Any ideas? pk
  • #808
  • Aug 31, 2007 1:23pm Aug 31, 2007 1:23pm
I don't think I have posted in this thread yet to my knowledge, although I've been following it for quite a while. First off, I obviously have to give the obligatory thanks to the Trollmann. The Cyrox rainbow is one of the most beautiful ideas I have seen yet, both technically and literally. I have been putting in a lot of screentime and I am getting better with it everyday. After a bit more demoing, I plan on funding a live account to give it a real shot very soon.
With that said, my question is about using Oanda as my live platform. I like the idea of using an ECN like EFX as my platform, however, the majority of my trading will be done from my work PC. I have just enough downtime at the right times of day that I can make my trades from here. However, most software that makes any kind of outside connection from here is stopped in its tracks by the firewall that's been setup. The one exception to this rule is Oanda, which seems to run perfectly fine on demo. So, is anybody else using Oanda not just for charting the rainbow but for trading it live as well? Do they have any rules against scalping in this way? Any advice is appreciated. Thanks everyone!
I came, I saw, I conquered [your pips]. -- Julius Caesar
  • #809
  • Aug 31, 2007 1:32pm Aug 31, 2007 1:32pm
They don't seem to have rules against it--I've talked with them and they have reiterated that scalping is perfectly fine. The deal desk programming that happens behind the Java engine is my problem with them. I wouldn't scalp with them and LT has said only to trade with an ECN--so I take his word for it. As for your work issue, it may be resolved with omega--who knows for sure--but it's supposed to work from any computer that has an internet connection and it's supposed to not be Java-based.
  • #810
  • Aug 31, 2007 1:43pm Aug 31, 2007 1:43pm
LT, may I send you my cd-rom and book about wine? (it's an offer, no charge). I own you something. If yes, PM your address.

By the way, I learned the tough way to not be a loser, I am not anymore.
  • #811
  • Aug 31, 2007 1:55pm Aug 31, 2007 1:55pm
Quoting Syafi
you don't look at the rainbow correctly.... rainbow say long, you short, rainbow say short you long, that why you have to wait for it to come back...
Thanks for the reply...

Well, obviously I thought I was looking at the rainbow correctly or I would not have taken the trade. But, I guess not since I then need the trade to develop further. I will learn to put up screen shots to share and get the input of others as to if it is a viable trade or not. Could you share what triggers you look for before putting a trade on?
  • #812
  • Aug 31, 2007 1:57pm Aug 31, 2007 1:57pm
LT,

You mentioned earlier that Rainbow trading is high probability, LOW FREQUENCY trading. Just curious -- approx. how many trades will you make each day? And across how many currency pairs? And that accounts for how much screen time?

I've been solely focusing on GBPJPY. Using the 30 second for my overall trend direction and the 5 second for entry/exit. My win/loss is around 70% and rising, with average winner at 12 pips and avg loser at 15 pips. I trade a live account as demo's don't do it for me -- I can't feel my reactions to a trading system if there isn't real money on the line. Over the last 24 hours I've probably executed close to 30 trades. I have a daily pip target for my Rainbow trades but I'm having so much fun I keep on trading.
  • #813
  • Aug 31, 2007 2:25pm Aug 31, 2007 2:25pm
Quoting MasterBlaster
LT,

You mentioned earlier that Rainbow trading is high probability, LOW FREQUENCY trading. Just curious -- approx. how many trades will you make each day? And across how many currency pairs? And that accounts for how much screen time?

I've been solely focusing on GBPJPY. Using the 30 second for my overall trend direction and the 5 second for entry/exit. My win/loss is around 70% and rising, with average winner at 12 pips and avg loser at 15 pips. I trade a live account as demo's don't do it for me -- I can't feel my reactions to a trading system if there isn't real money on the line. Over the last 24 hours I've probably executed close to 30 trades. I have a daily pip target for my Rainbow trades but I'm having so much fun I keep on trading.
Depends on the market... You are on the right track... keep on doing it...
  • #814
  • Aug 31, 2007 2:35pm Aug 31, 2007 2:35pm
Quoting linuxtroll
Rainbow Helps...

http://img444.imageshack.us/img444/6...swing01hr3.png

Hi Linux,
What wma combinations did you use for the above chart and time frame?

Thanks in adavance
  • #815
  • Aug 31, 2007 2:46pm Aug 31, 2007 2:46pm
LinuxTroll,

I have a question if you dont mind. I was highly profitable last two weeks using your method and added 5-10% to my account every day and had 70-80% success rate but today when I traded during Bernanke and Bush speaches all my trades turned into losers. I was almost always on the wrong side. Do you recommend to avoid news times especially when someone important speaks or rainbow works for you even in such conditions and its just a matter of experience?

Thanks again for a great trading tool!
  • #816
  • Aug 31, 2007 2:53pm Aug 31, 2007 2:53pm
Quoting DrainBamage
LinuxTroll,

I question if you dont mind. I was highly profitable last two weeks using your method and added 5-10% to my account every day and had 70-80% success rate but today when I traded during Bernanke and Bush speaches all my trades turned into losers. I was almost always on the wrong side. Do you recommend to avoid news times especially when someone important speaks or rainbow works for you even in such conditions and its just a matter of experience?

Thanks again for a great trading tool!
personally i wouldnt even trade on fridays just because its the end of the week and most trades are being closed. as for trading during new's its definatley not recomended at all with any method.
Egyptian and proud of it!
  • #817
  • Aug 31, 2007 7:36pm Aug 31, 2007 7:36pm
Quoting Syafi
you don't look at the rainbow correctly.... rainbow say long, you short, rainbow say short you long, that why you have to wait for it to come back...
I am not sure I understand you here.
You are saying when the rainbow is going down, you buy?
And when the rainbow is going up, you sell?
Maybe I am missing something, but in the last 2 weeks, I have done just the opposite and I have done 54 trades with 5 minimal losses.
That's 45 minimal to moderate winning trades(3-43 pips: average 6-8 pips)
If I am doing it wrong, I am planning on continuing to be wrong.
Perhaps I misunderstood you.
  • #818
  • Aug 31, 2007 8:08pm Aug 31, 2007 8:08pm
Quoting Stan
I am not sure I understand you here.
..............
Perhaps I misunderstood you.
Stan, my answer was for wcalem for his question with his condition, ..... not you. so yes you misunderstand me.

He has an issue of having most of his trades goes into the negatives ~14 pips before it come back positive. so let me rephrase

I said to him "you don't look at the rainbow correctly.... "rainbow say long"(but instead)", you short, rainbow say short "(but instead)"you long, that why you have to wait for it to come back...
  • #819
  • Aug 31, 2007 9:34pm Aug 31, 2007 9:34pm
Quoting Syafi
Stan, my answer was for wcalem for his question with his condition, ..... not you. so yes you misunderstand me.

He has an issue of having most of his trades goes into the negatives ~14 pips before it come back positive. so let me rephrase

I said to him "you don't look at the rainbow correctly.... "rainbow say long"(but instead)", you short, rainbow say short "(but instead)"you long, that why you have to wait for it to come back...
I see. I was sure I was misunderstanding you because the rainbow is not one of those counter trend methods to the best of my knowledge.
Thanks for the explaination. You are correct.
  • #820
  • Aug 31, 2007 11:09pm Aug 31, 2007 11:09pm
Stan, I see your in the money now so you have lost the cow.
The cow rocks.
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