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Linuxtroll Simple Scalping

  • #921
  • Sep 4, 2007 2:25am Sep 4, 2007 2:25am
Thank you linuxtroll for your great effort. I think I am picking very small profits.
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  • #922
  • Sep 4, 2007 2:38am Sep 4, 2007 2:38am
Quoting backinblack
Hey LT,
I've been using the rainbow different. I've been using the spine for direction, but entering when I see the faster WMA's cross over the slower ones with divergence (i.e., when they start to fan out).

Your thoughts? Is this any good, or a worthless exercise? Thanks in advance.
Hey KD!
Can you post a chart?
Good to see you around again!
  • #923
  • Sep 4, 2007 5:33am Sep 4, 2007 5:33am
Quoting linuxtroll
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...
thanks for you help, LT

"respect price line", do you mean i should only take short trade when the price is falling and long trade when the price is rallying? (of course along the direction of spine)

anyway i need more practice
  • #924
  • Sep 4, 2007 9:46am Sep 4, 2007 9:46am
Still demo trading this, but I finally got one today for 30 pips!
Can any of you tell me if I just got lucky, or if the setup was correct?
You will see the first trade for -4 and then the 2nd trade for +30.

Thanks for any help letting me know what I did right or wrong.
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  • #925
  • Sep 4, 2007 10:04am Sep 4, 2007 10:04am
I finally got a reversal as well... another 10 PIPs!
Again... Luck or am I getting it!?

Please critique these last 2 trades if you would to see if I am getting this method.
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  • #926
  • Sep 4, 2007 10:17am Sep 4, 2007 10:17am
Again, any comments welcome.

This is the 3rd trade on this setup.
I thought I saw another reversal and up move.

Note: I would not trade this many times live, just trying to get screen time and place the trades on demo.

I pulled for 8 PIP loss when price went back through spine.

Correct move ???

This will be my last post of charts today, I don't want to clog up the thread, but would love input on what I did right or wrong.

Thanks in advance.
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  • #927
  • Sep 4, 2007 11:17am Sep 4, 2007 11:17am
Quoting cesande
Again, any comments welcome.

This is the 3rd trade on this setup.
I thought I saw another reversal and up move.

Note: I would not trade this many times live, just trying to get screen time and place the trades on demo.

I pulled for 8 PIP loss when price went back through spine.

Correct move ???

This will be my last post of charts today, I don't want to clog up the thread, but would love input on what I did right or wrong.

Thanks in advance.
Cesande,
I'm working on the same stuff you are so your charts help me. Look forward to more tomorrow.
  • #928
  • Sep 4, 2007 12:35pm Sep 4, 2007 12:35pm
Quoting linuxtroll
Read the ultimate trader article first; before you trade Rainbow...
Anyone have this?
Just Googled,searched TSD etc...

P.S. if it's already posted on the thread I'll
shave my head.
  • #929
  • Sep 4, 2007 12:45pm Sep 4, 2007 12:45pm
Quoting FXSurfer
Anyone have this?
Just Googled,searched TSD etc...

P.S. if it's already posted on the thread I'll
shave my head.
Thanks for asking as I can't find it either.
  • #930
  • Sep 4, 2007 12:53pm Sep 4, 2007 12:53pm
I think he may be referring to the Ultimate Chance article in this post:

http://www.forexfactory.com/showpost...&postcount=264

Please correct me if I'm wrong.
  • #931
  • Sep 4, 2007 1:52pm Sep 4, 2007 1:52pm
Quoting MasterBlaster
I think he may be referring to the Ultimate Chance article in this post:

http://www.forexfactory.com/showpost...&postcount=264

Please correct me if I'm wrong.
Is this it?
Well, I was getting ready to shave my head
for winter anyway!
Thanks MB!
  • #932
  • Sep 4, 2007 2:04pm Sep 4, 2007 2:04pm
cesande; what charting program are you using? I see many pictures taken of that program, but haven't yet stumbled across its name. ---also the same question on those little arrow signals, I would like to figure out how\where people are getting them (sorry still catching up on entire thread)

I have little practice demo'ing the rainbow, but I am interested in others critique of your trades. I would be inclined to say you were lucky and unlucky because on some of the trades it looked like there is no spine developed. For instance on your very last trade in which you take a loss, there is no purple MA showing clearly. Perhaps my perception of what a spine is and does is incorrect. But aren't you suppossed to wait for your largest MA's to full develop on top (for a short) or on the bottom (for a long)?

What made you make those decisions?
"Please sir, may I have some more pips?"
  • #933
  • Sep 4, 2007 2:08pm Sep 4, 2007 2:08pm
further on spine development;

I am interested on learning more about "the spine". In my previous post I thought cesande may have jumped the gun too early, because I didn't see good spine development.
I have been working and thinking under the assumption that the spine is "developed" when the group of largest MA's (in this case all the purple MA's) do 2 things. First they begin to separate from all the other colors of the rainbow, and 2nd they begin to decompress from themselves.

As of now, I have been demo trading like that; waiting for the largest MA's to separate from the other smaller MA's, and for them to begin decompressing.
Is this the correct approach? Should I also be looking at where price is, in relation to the shorter MA's???
"Please sir, may I have some more pips?"
  • #934
  • Sep 4, 2007 2:47pm Sep 4, 2007 2:47pm
Quoting J2FcM
all the other colors of the rainbow
I'm using all one color (even for price line) now, as LT
suggests, and it's helping me simplify things and making
trend ID easier. Just a NB trying to help!
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  • #935
  • Sep 4, 2007 2:53pm Sep 4, 2007 2:53pm
Im not sure how one color makes things easier? Or perhaps its all the colors that are creating the confusion?
I always took the colors as a way to identify more quickyl a fully developed spine; which was the first step to finding an entry.
"Please sir, may I have some more pips?"
  • #936
  • Sep 4, 2007 2:56pm Sep 4, 2007 2:56pm
Quoting J2FcM
cesande; what charting program are you using? I see many pictures taken of that program, but haven't yet stumbled across its name. ---also the same question on those little arrow signals, I would like to figure out how\where people are getting them (sorry still catching up on entire thread)

I have little practice demo'ing the rainbow, but I am interested in others critique of your trades. I would be inclined to say you were lucky and unlucky because on some of the trades it looked like there is no spine developed. For instance on your very last trade in which you take a loss, there is no purple MA showing clearly. Perhaps my perception of what a spine is and does is incorrect. But aren't you suppossed to wait for your largest MA's to full develop on top (for a short) or on the bottom (for a long)?

What made you make those decisions?
The program used is oanda demo platform. The arrows are what they place on the chart when you are trading.
Spine is something I don't fully understand either. I thought that the spine was any time that several MAs close together to form a thick line and I also though that this was regardless of which MAs close up. Can someone correct me if I am wrong with this understanding?
  • #937
  • Sep 4, 2007 3:09pm Sep 4, 2007 3:09pm
oh, I didn't realize Oanda puts those arrows in when making trades... I just setup my Oanda demo account last night, and stared at EUR\USD 5sec chart with rainbows on it... but made zero trades, thus no arrow signs.
How did you edit your MA colors?
"Please sir, may I have some more pips?"
  • #938
  • Sep 4, 2007 3:13pm Sep 4, 2007 3:13pm
Quoting J2FcM
oh, I didn't realize Oanda puts those arrows in when making trades... I just setup my Oanda demo account last night, and stared at EUR\USD 5sec chart with rainbows on it... but made zero trades, thus no arrow signs.
How did you edit your MA colors?
Left click the line and pick color
  • #939
  • Sep 4, 2007 3:17pm Sep 4, 2007 3:17pm
Quoting J2FcM
Im not sure how one color makes things easier? Or perhaps its all the colors that are creating the confusion?
I always took the colors as a way to identify more quickyl a fully developed spine; which was the first step to finding an entry.
The spine has an early phase, a tail-bone, if you please (LOL) where
the previous spine has not yet fully ended. But, the new
spine is already forming. I don't take these trades quite yet as a NB.

The fully developed spine has both the price line and all MA's on one
side of the longest (eg 144) MA and angling up or down. I trade these.

Now, how about someone who actually trades with $.

BTW: in the time it took me to write this and you to read it
we could have just scalped and got some pips! LOL
Anyone seen the old Monty Python with the philosophers
playing soccer (football)?
  • #940
  • Sep 4, 2007 3:18pm Sep 4, 2007 3:18pm
Hmm. I tried that last night... maybe being half blind from massive alchohol OD the night before hindered my ability to do something obvious and simple. thank you.
"Please sir, may I have some more pips?"
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