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Linuxtroll Simple Scalping

  • #881
  • Sep 3, 2007 8:52pm Sep 3, 2007 8:52pm
Quoting Leonlorenzo
and could anyone give me some feedback........
I think may be able to convince my broker to give me 1pip spread AU and EU and 2pip's EJ, would that be workable?
Leon
Just change other broker....... EFX/MBT is 1pip EJ (com~1.3pip) total 2.3 pip only.
  • #882
  • Sep 3, 2007 9:03pm Sep 3, 2007 9:03pm
Quoting Syafi
Just change other broker....... EFX/MBT is 1pip EJ (com~1.3pip) total 2.3 pip only.
i think the commission for E/J by MBT is ("E/J rate" / 100) pips, so current 1.578 pips
  • #883
  • Sep 3, 2007 9:04pm Sep 3, 2007 9:04pm
Quoting Syafi
Just change other broker....... EFX/MBT is 1pip EJ (com~1.3pip) total 2.3 pip only.
Yes, but what im saying is, i may be able to trade for only 2pip spread on EJ, without having to move to an ECN, better than 2.3. and would this spread on the 5second be ok

thanx
Living the adventure in my head.
  • #884
  • Sep 3, 2007 9:06pm Sep 3, 2007 9:06pm
Quoting bltoby
i think the commission for E/J by MBT is ("E/J rate" / 100) pips, so current 1.578 pips
Including comision?

Im sorry linuxtroll, please tell me if im posting to much

leon
Living the adventure in my head.
  • #885
  • Sep 3, 2007 9:19pm Sep 3, 2007 9:19pm
My inbox was flooded with PM's so I am just going to try and answer them all here.
First, I have no EA and dont plan to, I trade manually.
Secondly, I trade 1m chart not 5sec.
I am new compared to LT on the rainbow but have had some vairation on my charts for a long time. I have tried hull, TSR, digital, lots of combinations. When LT opened this thread I went back from EMA to LWMA to follow along and I am liking it. I am the type of person that has to have a clear cut set of rules, something that says pull the trigger, and get out. I NEED absolute while LT doesnt because he has been doing this a LONG time and I dont feel like his personality has to have that mathmatical pull the trigger now like I do. Thats why I have the MAinColor combination on there and created the rainbowarrows(and watching multiple pairs).Rainbowarrows was made to MY rules and only to grab my attention to look at the chart. The only other things I use are support and resistance and those are the horizontal lines on my chart. Pivots, camarilla pivots and higher timeframe S&R. I also like mt4 because I like programming as well. I wish I could have maybe a 30sec chart but someday. I have a broker with low spreads and am not to far off from an instutional account which will allow me to connect directly to an ECN feed with MT4(yes it does exist).

I am not going to attach any indicators out of respect for LT and what he is trying to do, unless he doesnt mind. I hate those threads that get derailed and transformed. Besides, the arrow indicator is a resource HOG and I have yet to figure out an efficient way to calculate 30 MA's and wouldnt release another version unless i did.

Look back at your charts and look for the great entries and write it down what occured. Then make your own rules that you are happy with and pwn teh marketz
  • #886
  • Sep 3, 2007 9:21pm Sep 3, 2007 9:21pm
LT, how could i manage the second trade in that situation.

I think the second one was tough, probably would get BE at 03:40, even if the sl was set a little bigger(smarter).
Attached Image (click to enlarge)
Click to Enlarge Name: live trade.gif Size: 55 KB
  • #887
  • Sep 3, 2007 9:56pm Sep 3, 2007 9:56pm
another one
Attached Image (click to enlarge)
Click to Enlarge Name: live trade 2.gif Size: 30 KB
  • #888
  • Sep 3, 2007 10:26pm Sep 3, 2007 10:26pm
Hi, i am new to this sys. I cant find the template & indicator for the sys. Anyone mind sharing it to me?

Thank you in advance.
  • #889
  • Sep 3, 2007 11:11pm Sep 3, 2007 11:11pm
Quoting Bruno
May I ask you if you made some nett profit from your trades? If I check it again you made 6 trades with 5 pips profit(no comm. calculated...) What is your commission?
Hi Bruno,
Note the double entry towards the end. Then on the very last exit, there are two exit marks. That's what made the session for me.

In other words, had I not doubled-down on the last trade, something I don't recommend for everyone, I would have broken even for the session. But since I did, I ended up with, trading one contract, a $33 profit, or 3 ticks after commissions. When I am learning a new method, I always trade on NinjaTrader's simulation mode, and then with only with one contract. 20 contracts would have given me over $650; a living wage for an hour's work. But not until I really get this down.

In order to answer this a little better, I have attached my reports for the session.

In your second question, my commissions run around $5.50 per round turn, which I don't mind paying, as I almost always have only a one-tick spread. If I successfully enter on a limit order instead of a market order, I pay NO spread.
Attached File(s)
File Type: zip NinjaTrader Performance Report.zip   2 KB | 584 downloads
  • #890
  • Sep 3, 2007 11:12pm Sep 3, 2007 11:12pm
Quoting Jacgyc
Hi, i am new to this sys. I cant find the template & indicator for the sys. Anyone mind sharing it to me?

Thank you in advance.
hi, If you scroll to the top of the page and click on the paperclip (attatchments) you will find a file called cryoxMMA, its a template for MT4, just put it in your templates folder.

if you dont use MT4 then jus put WMA 10, 20, 30.............220 on whatever charts you use

Living the adventure in my head.
  • #891
  • Sep 3, 2007 11:17pm Sep 3, 2007 11:17pm
Quoting Leonlorenzo
hi, If you scroll to the top of the page and click on the paperclip (attatchments) you will find a file called cyroxMMA, its a template for MT4, just put it in your templates folder.

if you dont use MT4 then jus put WMA 10, 20, 30.............220 on whatever charts you use

Ty for the fast reply...
  • #892
  • Sep 3, 2007 11:20pm Sep 3, 2007 11:20pm
Quoting Bruno
. My first goal was to make 5-10 pips/day consistent. Now I know that 20-100 pips/day(so can you imagine which trading DYNAMITE we have?)
Charge on...just make 2% EVERY DAY
Attachment
Hi Bruno,
Not that I'm an expert, but I think it is a more productive strategy that instead of maximizing your pips over the 20 range, that instead you go for one or two high probability trades while doubling and/or quadrupling your lots, thus minimizing your exposure to the market and your risk. You can likely make more with less risk using this strategy.

My mentor goes for 4 ticks net per day, with 30 contracts, and pulls in excess of $1K daily on two or three trades. Seldom gets stopped out, because of being able to cherry-pick only two trades, maybe three.

Just a thought ...
  • #893
  • Sep 3, 2007 11:21pm Sep 3, 2007 11:21pm
Quoting Jacgyc
Hi, i am new to this sys. I cant find the template & indicator for the sys. Anyone mind sharing it to me?

Thank you in advance.
Also read the Mantra!!!!!
creating wealth one pip at a time.....
  • #894
  • Sep 3, 2007 11:21pm Sep 3, 2007 11:21pm
Quoting Jacgyc
Ty for the fast reply...
Your welcome!
And now if you crack on to how to win before me I expect some advise!
or 50% of whatver you make! lol
take your pick

happy trading!
Living the adventure in my head.
  • #895
  • Sep 3, 2007 11:24pm Sep 3, 2007 11:24pm
Quoting backinblack
Hi Bruno,
Not that I'm an expert, but I think it is a more productive strategy that instead of maximizing your pips over the 20 range, that instead you go for one or two high probability trades while doubling and/or quadrupling your lots, thus minimizing your exposure to the market and your risk. You can likely make more with less risk using this strategy. Just a thought ...
But, just a thought........... isnt it also possible to see the situation from an opposite perspective! by spreading your risk over many more trades with smaller lot sizes arent you infact safer? What if that one big trade goes wrong?

Just my input

Leon
Living the adventure in my head.
  • #896
  • Sep 3, 2007 11:26pm Sep 3, 2007 11:26pm
Quoting amenlo9
LT,will you enter when rainbow like this?
NO... I will be exiting my first sell scalp and get ready for the next scalp...
  • #897
  • Sep 3, 2007 11:31pm Sep 3, 2007 11:31pm
We do not need an optimal exit... exit base on constant pips... or exit based on price hits the h-line (round numbers)... exit based on rainbow wave end (need a lot of screen time)... finally time based exit...

Quoting Bruno
How exactly you define "good entry" and "excellent entry" ? btw, how do you guys handle exit. Most of charts are just entry points and i´m not getting if we are all talking about same subject here, but exit is important, i´d like to see some exit point on charts also.

Cheers

Carllos
I still did not find "optimal" exit with 2 months NON STOP Rainbow watching - but it comes sooner or later . My first goal was to make 5-10 pips/day consistent. Now I know that 20-100 pips/day(so can you imagine which trading DYNAMITE we have?) is not big problem, but I still have big problems with DISCIPLINE - this should be the key(reading MANTRA many times per day), all other things and MM comes automatically.
Charge on...just make 2% EVERY DAY
Attachment [/quote]
  • #898
  • Sep 3, 2007 11:33pm Sep 3, 2007 11:33pm
Quoting italianfx
you like to enter and exit on round numbers
and also S/R... rainbow wave... time based...
  • #899
  • Sep 3, 2007 11:35pm Sep 3, 2007 11:35pm
Quoting nhallmark
Good observation...I didn't notice that in the chart.

Thanks for posting that, Linuxtroll
Based on your risk profile - you can zoom in and out to adjust the h-line to 5 pips or 10 pips... Same goes with v-line too (how many minutes)...
  • #900
  • Sep 3, 2007 11:37pm Sep 3, 2007 11:37pm
Quoting pkchilly
Thanks LT, it's good to see how you look at a chart! And the round numbers thing is something I will take to the bank...So good to have this thread back on target...I've learned more today than for a while!! Thanks again to all--oh, and nhallmark, possibly decrease your lot size so you don't take it so hard...I too find that when I'm away from my computer (albeit not smoking) great things happen in the charts, but at least realizing that great things have happened brings me one step closer to success! pk
Great things happen 24/7... Just pick your smoking or break time according to v-line...
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