Linuxtroll Simple Scalping

Quoting linuxtroll

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Great things happen 24/7... Just pick your smoking or break time according to v-line...

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Quoting pkchilly

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Ok, just took this trade, let me know what you think LT et all...even numbers, could have taken 2 possible trades previous to this, still working on getting in early as spine develops. And we're somewhat range trading today...Happy pips to all...
pk

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Quoting thinker

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sl is 30 pips, fixed in the EA. not really a rainbow setup - rainbow generates too many trades - reduces accuracy, though useful in strong trends.

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Quoting Leonlorenzo

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I have just seen the reply post Linuxtroll, I feel realy bad and like a nusence, im not acustomed to feeling like that . No excuses, sorry. Feel Free to delete the posts of mine, i would prefer you did.

Just got back from work and looks like there has been a nice run down on the rainbow(EJ), all-be-it a very strange rainbow ive made, lol.

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Quoting Leonlorenzo

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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

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Quoting Leonlorenzo

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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

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Quoting linuxtroll

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Just change the color to blue or whatever color you like; but you must see the spine developing clearly (one color helps you master the Rainbow quickly)... right mouse click on each wma and select the color...

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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.

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Secondly, I trade 1m chart not 5sec.

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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.

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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.

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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).

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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.

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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

Quoting bltoby

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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).

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Quoting bltoby

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another one

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Quoting linuxtroll

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Change the Rainbow to one color... respect spine and price line... You could have entered a bit earlier in opposite direction for a quick scalp... or you could have waited for the spine to develop or price line breakout from resistance after that sudden spike... If you are new to Rainbow... take only high-probability trades...

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Quoting backinblack

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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 ...

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Quoting Leonlorenzo

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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

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Quoting Neznaika

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Bruno...
Is it Tradestation?

Thanks.

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Quoting Bruno

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Yes Tradestation

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Quoting linuxtroll

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Is that your picture Bruno... You are even frightening the Troll...

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Quoting linuxtroll

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You will make money when you reach 90... and your banker will use that money... Read the ultimate trader article first; before you trade Rainbow...

Big trade will not go wrong with tight stop and money management... and you will capture another big move again...

LoL

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Quoting Leonlorenzo

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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

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