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Linuxtroll Simple Scalping

  • #961
  • Sep 5, 2007 1:30am Sep 5, 2007 1:30am
So Far: My most successful (demo) scalps are when
rainbow ID's the direction and then price starts testing recent
S/R and/or Even Price. You can feel the pressure build there, giving
you a little time to place your trade. Then, the dam breaks
and you get a quick 10 pips or so and you close out when
price stalls.
Just a NB sharing what you already know.
But, what the heck, it's coming together. I'm happy to be
developing my skills instead of system hopping and indicator
tweaking! THANKS TO LT AND ALL OF YOU!
  • #962
  • Sep 5, 2007 1:31am Sep 5, 2007 1:31am
Quoting FXSurfer
Hey KD!
Can you post a chart?
Good to see you around again!
You're one of the nicest guys on the net. Okay, this was a stupid entry, but I moved my stop out enough to let it turn around for a tick to cover my commission.
On the teacher's blackboard:
I will not go long in a downturn. I will not go long in a downturn. I will not go long in a downturn. I will not go long in a downturn. I will not go long in a downturn.
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  • #963
  • Sep 5, 2007 1:34am Sep 5, 2007 1:34am
Quoting Leonlorenzo
lol, 24/5
Sakes alive, kid, let it go.
  • #964
  • Sep 5, 2007 1:44am Sep 5, 2007 1:44am
Quoting FXSurfer
So Far: My most successful (demo) scalps are when
rainbow ID's the direction and then price starts testing recent
S/R and/or Even Price. You can feel the pressure build there, giving
you a little time to place your trade. Then, the dam breaks
and you get a quick 10 pips or so and you close out when
price stalls.
Just a NB sharing what you already know.
But, what the heck, it's coming together. I'm happy to be
developing my skills instead of system hopping and indicator
tweaking! THANKS TO LT AND ALL OF YOU!
It looks like it's starting to talk to you.
There appears to be some universal truths to the rainbow, but it seems to work best when one listens to what it tell them personally.
Let's keep it up.
  • #965
  • Sep 5, 2007 1:54am Sep 5, 2007 1:54am
Quoting aussieguy
Hi Linuxtroll,
Have you or anyone ever applied this to the Futures markets also ?
Just curious...

Thanks again !

John
I'm demo-trading this on Euro Futures (6E) now.
  • #966
  • Sep 5, 2007 2:20am Sep 5, 2007 2:20am
Buying support with a fixed target of 3 ticks, then getting brave enough for 5.
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  • #967
  • Sep 5, 2007 2:39am Sep 5, 2007 2:39am
Quoting backinblack
I'm demo-trading this on Euro Futures (6E) now.
I wonder what a good rainbow set-up and TF would be for
corn and soybean futures, KD? I lent those two some money
several years ago and I think that I might pay them a visit
later on. When I introduce them to rainbow I'll yell:
"Say hello to my little friend!"

  • #968
  • Sep 5, 2007 4:11am Sep 5, 2007 4:11am
Some scalping, boring scalping :-/ the market just doesnt want to move enough right now...
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  • #969
  • Sep 5, 2007 7:33am Sep 5, 2007 7:33am
Today my first day with NinjaTrader, I like this platform and combination with EFX account works fine. I am just thinking about v-lines I do not understand what do you mean Trollmann with time lines? Is there some parameters if price is going nowhere in xxx second just close the trade?

Cheers
Bruno
  • #970
  • Sep 5, 2007 8:46am Sep 5, 2007 8:46am
Quoting Bruno
Today my first day with NinjaTrader, I like this platform and combination with EFX account works fine. I am just thinking about v-lines I do not understand what do you mean Trollmann with time lines? Is there some parameters if price is going nowhere in xxx second just close the trade?

Cheers
Bruno
Well I know for sure if price does not move within a few minutes you close the trade. Not sure how many minutes but taking a wild guess I would say ten minutes. If I got this wrong please correct me LT.
V-lines I think refers to the vertical lines on the chart or time line while horizontal lines are the priceline.
Hope this helps.
LT don't hesitate to correct me if I got this all wrong.
  • #971
  • Sep 5, 2007 8:52am Sep 5, 2007 8:52am
Looking for help with assessing if this was just "one of those trades" or if I should have seen something to alert me to not make this trade.

Still demo trading, but wonder where I went wrong here.

Any help appreciated.
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  • #972
  • Sep 5, 2007 8:56am Sep 5, 2007 8:56am
Sometimes I am not at the computer but relatively close by and it would be nice to know when the market is moving. I assume other people are in the situation also...

I was wondering if anyone would be interested in sending SMS to a group of us who sign up in some list for it, so that we would be SMS notified when the market is moving.

I am not sure how this works, I know there are plenty of sites that will let you send SMS to just about any country for free. But I am not sure of what there is out there that is more advanced that will let you send SMS to a group of people in different countries. Either free or paid. I assume there is something like that, as signal services can send SMS messages to subscribers.

So the idea is this:

Market Watchers send SMS to Market Listeners when Market is moving.

e.g. Yen crosses are moving
GBP is moving
CAD is moving
Everything is moving!

If SMS isn't the best idea, then some kind of instant messaging software then is also good.

This isn't intended to be a replacement for watching the screen at all, just as and added tool to notify when something happens when you're not in front of the screen.

If anyone thinks this is a good idea, anyone want to volunteer to actually implement it?
  • #973
  • Sep 5, 2007 9:02am Sep 5, 2007 9:02am
Of course the trade went, just whip saw made me stop it.

Any suggestions on my method, or again is this just "on of those trades"?

Thanks in advance
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  • #974
  • Sep 5, 2007 9:14am Sep 5, 2007 9:14am
Quoting TheOne
Well I know for sure if price does not move within a few minutes you close the trade. Not sure how many minutes but taking a wild guess I would say ten minutes. If I got this wrong please correct me LT.
V-lines I think refers to the vertical lines on the chart or time line while horizontal lines are the priceline.
Hope this helps.
LT don't hesitate to correct me if I got this all wrong.
Many thanks for your answer, but are we not talking about seconds, instead of minutes?
  • #975
  • Sep 5, 2007 9:41am Sep 5, 2007 9:41am
Quoting Bruno
Many thanks for your answer, but are we not talking about seconds, instead of minutes?
Well the vertical are there no matter what time frame. On the chart the vertical lines represent a period in time weather it be seconds, minutes, hours doesn't matter. Looking at the 5 sec you will see vertical with labels on some for example 8.20, 8.25 etc. I hope this is a little clearer.
  • #976
  • Sep 5, 2007 9:46am Sep 5, 2007 9:46am
Quoting cesande
Of course the trade went, just whip saw made me stop it.

Any suggestions on my method, or again is this just "on of those trades"?

Thanks in advance

Try using the previous price wave for your stop loss. It might work out better for you. Do not get me wrong if you placed stop around 115.8* (outside of price waves) that would be at least 15 pips in this case and that may not fit your trading style. In this case (hindsight in effect) you could even place your stop around 115.72, that appeared to be a resistance point (price stopped there several times). But as a matter of preference, no matter what time frame I use to trade I place stops a bit beyond the most recent (or so) price swing. It is very subjectional, that is the need for the screen time...

Stick with it ...
EllisEdi Moving on to my next trade ...
  • #977
  • Sep 5, 2007 10:12am Sep 5, 2007 10:12am
Quoting cesande
Looking for help with assessing if this was just "one of those trades" or if I should have seen something to alert me to not make this trade.

Still demo trading, but wonder where I went wrong here.

Any help appreciated.
Casande, I was having the same problem trading the same kind of chart. This is what I changed to help me out, it might help you: I will not trade this rainbow pattern because the spine never really developes (choppy and whipsaw). I wait until there is a fully developed spine, look at post number 1022 by kharvell look at your chart compared to his. I have found that waiting and picking the right rainbow pattern is making me more money and allowing me to trade less. The bottom line is since I am new, sticking to and waiting for a clear flow of the rainbow is what I am doing and it is working.
creating wealth one pip at a time.....
  • #978
  • Sep 5, 2007 11:59am Sep 5, 2007 11:59am
Well, I've been having the same problems as cesande last evening... and I think we shared the same question; "What exactly are the components of a fully developed, tradeable spine?"

Previously I thought a well developed spine, was when the larger MA's (which are typically purple in this thread) begin to decompress, and are on top for a sell, on the bottom for a buy.

Now comparing Kharvells 1022 post to Cescande's screen shots, it looks like the spine might be more about all the colors of the rainbow to decompress simultaneously?

Is the spine more about full and even decompression across all MA's?

For now I'll assume it is; and apply that to tonights demo session.
"Please sir, may I have some more pips?"
  • #979
  • Sep 5, 2007 12:33pm Sep 5, 2007 12:33pm
Quoting Syafi
http://www.google.com.my/search?q=wi...ient=firefox-a
Obviously he was asking about examples using Williams %R with the rainbow, no need for this jerky reply.
  • #980
  • Sep 5, 2007 1:20pm Sep 5, 2007 1:20pm
I just got spanked a little by trying to grab some news pips
from the Beige. Once I got over the greed that made me jump in
I reminded myself that I don't trade news, and got out with a small
few pip "loss" before a big move against my position.
Anyway, it feels pretty good to come to your senses and act right
when things get hot instead of freaking out!
Maybe the MANTRA and everything else is starting to get inside
of my head.
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