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Linuxtroll Simple Scalping

  • #1,101
  • Sep 7, 2007 6:03am Sep 7, 2007 6:03am
Quoting formor
Hi Bruno.
How did you connect Ninja to EFX? In the provider list has not EFX and MBT don't connect to fx data.

Regards,
formor
First you need to check Instrument Manager and then if you see MBtrading window, then you will be able to load data for your charts. I use only EUR/JPY and was unpossible to add pairs with 4 decimal places. Just try this: add Stock EUR/JPY then should it run...
  • #1,102
  • Sep 7, 2007 7:47am Sep 7, 2007 7:47am
..Wonderfull jjrvat

I also tranding in Dax. You can indicate in the chart your enters and exits. Sorry for my english

Thanks friend..
  • #1,103
  • Sep 7, 2007 9:03am Sep 7, 2007 9:03am
Quoting chaveznqoos
..Wonderfull jjrvat

I also tranding in Dax. You can indicate in the chart your enters and exits. Sorry for my english

Thanks friend..
NP.

I use Sierra only for Charts, I trade directly from the DOM in OEC so I cant see my trades on the chart. The blue lines were drawn "ex post"....

jjrvat

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  • #1,104
  • Sep 7, 2007 9:47am Sep 7, 2007 9:47am
Do you care about the big news when you are trading this awesome method ???
I think that after the news release and after the first supervolatile movements it is a good time to trade.
Do you find that the same way?
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  • #1,105
  • Sep 7, 2007 2:26pm Sep 7, 2007 2:26pm
Quoting Venca
Do you care about the big news when you are trading this awesome method ???
I think that after the news release and after the first supervolatile movements it is a good time to trade.
Do you find that the same way?
Yeah, Venca...after news is good. Linuxtroll said the best times to trade is the open/close of a session and after news
  • #1,106
  • Sep 7, 2007 2:51pm Sep 7, 2007 2:51pm
Here's what I saw on the NFP move today...

I didn't take any of these trades as Im still learning, but any feedback would be appreciated.
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  • #1,107
  • Sep 7, 2007 3:00pm Sep 7, 2007 3:00pm
Quoting nhallmark
Here's what I saw on the NFP move today...

I didn't take any of these trades as Im still learning, but any feedback would be appreciated.
Looks like a nice, consistent scalping methodology.
Thanks for the post, N!

Have a great weekend everyone!
  • #1,108
  • Sep 7, 2007 3:02pm Sep 7, 2007 3:02pm
This is nice, interesting idea, to trade like you do. Only time can tell, if you going to be proftable with this approach or not. One thing is, you need many months to know if you going to be positive with this approach, so if you positive now or negative now- it is not the fact that you will get the same results in one or two months time.
IMHO.
Andrey
Quoting nhallmark
Here's what I saw on the NFP move today...

I didn't take any of these trades as Im still learning, but any feedback would be appreciated.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #1,109
  • Sep 7, 2007 3:10pm Sep 7, 2007 3:10pm
Quoting Andy12
This is nice, interesting idea, to trade like you do. Only time can tell, if you going to be proftable with this approach or not. One thing is, you need many months to know if you going to be positive with this approach, so if you positive now or negative now- it is not the fact that you will get the same results in one or two months time.
IMHO.
Andrey
What do you mean? That was actually the main reason for the post - am I doing it "right"? ..lol

Im trying to learn what will be profitable over the long run...how would you have traded that move today?
  • #1,110
  • Sep 7, 2007 3:24pm Sep 7, 2007 3:24pm
Quoting nhallmark
What do you mean? That was actually the main reason for the post - am I doing it "right"? ..lol

Im trying to learn what will be profitable over the long run...how would you have traded that move today?
You're methodology is sound and you are definitely on the right track. That's a great looking chart and well thought out entries. How about exits? Would you stay in the trade looking at the additional entry signals as trend continuation or would you exit at the first sign of S/R and re-enter?

I think perhaps what Andrey is referring to is that the behavior of currencies change and what worked 3 months ago might not work this month. Am I correct Andrey? I would like to say, however, while the behavior of currencies change they still trend and everything has to go through the 5 sec - 1 min charts. So, whereas that MA crossover on the 1 hour has stopped working you will still be able to see and catch trends on any currency using LT's system.

Don't be greedy -- be stingy!

Cheers
  • #1,111
  • Sep 7, 2007 3:28pm Sep 7, 2007 3:28pm
Quoting nhallmark
What do you mean? That was actually the main reason for the post - am I doing it "right"? ..lol

Im trying to learn what will be profitable over the long run...how would you have traded that move today?
Looks like perfect rainbow riding. I think thats exactly the way it was intended. Congrats.

But remember there are some EXTREMELY volatile times like yesterday during rate decision and NY open at the same time. It's best to wait for dust to settle before trading insane times. Price will cut the rainbow like butter and then return even during strong upsurge downsurge.. This is forex after all.
  • #1,112
  • Sep 7, 2007 3:29pm Sep 7, 2007 3:29pm
To understand how to be proftable in the long run, you have to trade very long time. By the way, I did not trade today (was busy with something else).
LT may be disagree with me on this one, but I belive market moves changes periodicaly and what works today is not nesseserely will work in the next month.
You charts, looks like is one of the best contributions to this thread so far, at least I think so.
I try to trade on demo like you and see what I will end up in the long run. The only trouble is you have to have really long time and many trades to understand if it works or not in the long run.
Quoting nhallmark
What do you mean? That was actually the main reason for the post - am I doing it "right"? ..lol

Im trying to learn what will be profitable over the long run...how would you have traded that move today?
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #1,113
  • Sep 7, 2007 3:36pm Sep 7, 2007 3:36pm
Quoting MasterBlaster
You're methodology is sound and you are definitely on the right track. That's a great looking chart and well thought out entries. How about exits? Would you stay in the trade looking at the additional entry signals as trend continuation or would you exit at the first sign of S/R and re-enter?

I think perhaps what Andrey is referring to is that the behavior of currencies change and what worked 3 months ago might not work this month. Am I correct Andrey? I would like to say, however, while the behavior of currencies change they still trend and everything has to go through the 5 sec - 1 min charts. So, whereas that MA crossover on the 1 hour has stopped working you will still be able to see and catch trends on any currency using LT's system.

Don't be greedy -- be stingy!

Cheers
Thanks. As far as exits, normally I would get out as soon as the price stalls, which would have given me roughly 10 pips on most of those trades.

Today, however, NFP came out horrible and I know how that affects JPY pairs especially with all the subprime BS so I might have taken that first trade and stayed in awhile...I was actually asleep when it happened which is why I didn't trade any of this...lol

I understand that what I posted doesn't always work...it took me a good amount of money to figure that out..lol

But, like I said, NFP came out really bad and thats what would have given me the confidence that it would keep dropping today.

Having said that, Im still clueless when we are not in a huge move...it seems like everything I try only works half the time during those times...so Im still learning
  • #1,114
  • Sep 7, 2007 3:37pm Sep 7, 2007 3:37pm
Quoting Andy12
To understand how to be proftable in the long run, you have to trade very long time. By the way, I did not trade today (was busy with something else).
LT may be disagree with me on this one, but I belive market moves changes periodicaly and what works today is not nesseserely will work in the next month.
You charts, looks like is one of the best contributions to this thread so far, at least I think so.
I try to trade on demo like you and see what I will end up in the long run. The only trouble is you have to have really long time and many trades to understand if it works or not in the long run.
OK, I get what you're saying now..thanks.
  • #1,115
  • Sep 7, 2007 3:39pm Sep 7, 2007 3:39pm
Quoting bobblong
Looks like perfect rainbow riding. I think thats exactly the way it was intended. Congrats.

But remember there are some EXTREMELY volatile times like yesterday during rate decision and NY open at the same time. It's best to wait for dust to settle before trading insane times. Price will cut the rainbow like butter and then return even during strong upsurge downsurge.. This is forex after all.
Thanks man...yeah, I know to stay out until things have calmed down. That chart was 2 hours after NFP today.

I used to trade news spikes so I know what your talking about..lol
  • #1,116
  • Sep 7, 2007 3:43pm Sep 7, 2007 3:43pm
Quoting Andy12
To understand how to be proftable in the long run, you have to trade very long time. By the way, I did not trade today (was busy with something else).
LT may be disagree with me on this one, but I belive market moves changes periodicaly and what works today is not nesseserely will work in the next month.
You charts, looks like is one of the best contributions to this thread so far, at least I think so.
I try to trade on demo like you and see what I will end up in the long run. The only trouble is you have to have really long time and many trades to understand if it works or not in the long run.
I think LinuxTroll Cyrox Rainbow is several years old ... it still work.
  • #1,117
  • Sep 7, 2007 3:45pm Sep 7, 2007 3:45pm
LT,

You showed the table where making 2% a day and starting with 5000 you will end the year with 250000. But do you (or anyone else on this forum) know people who were actually able to do it? Average 2% day by day consistently using rainbow? How long it took these people to master rainbow to that level?

I am asking because I sometimes feel like I got it and I get 90% of positive trades few days in a row, but then there are days when I am wrong 90% of the trades, so it is interesting how long it took others to get the stability in this method.
  • #1,118
  • Sep 7, 2007 3:52pm Sep 7, 2007 3:52pm
Quoting Syafi
I think LinuxTroll Cyrox Rainbow is several years old ... it still work.
Yeah, it does still work...I don't think he is saying it doesn't. Andrey is good at it, from what I've seen.

What he is saying is that certain techniques for entry using the rainbow that work now, might not work over time.

Ive even seen something work great one day and then it gets killed the very next day...lol
  • #1,119
  • Sep 7, 2007 3:59pm Sep 7, 2007 3:59pm
Quoting nhallmark

Ive even seen something work great one day and then it gets killed the very next day...lol
Speaking of that, one thing I am realizing is that, when one technique works but then it gets killed...what were the market conditions when it was working?

You guys know what Im talking about?...sometimes its really choppy but still going somewhere, other times its..uh "blocky" (dead), etc.

..So, it just occured to me that when a technique works, to take a screenshot and train my brain to notice when it is moving "like that" and only use that technique during those times.

Then, if we've got techniques for each type of market condition and we accurately identify it...I'll take the black bentley please

Just rambling lol.
  • #1,120
  • Sep 7, 2007 4:29pm Sep 7, 2007 4:29pm
Quoting nhallmark
Thanks. As far as exits, normally I would get out as soon as the price stalls, which would have given me roughly 10 pips on most of those trades.

Today, however, NFP came out horrible and I know how that affects JPY pairs especially with all the subprime BS so I might have taken that first trade and stayed in awhile...I was actually asleep when it happened which is why I didn't trade any of this...lol

I understand that what I posted doesn't always work...it took me a good amount of money to figure that out..lol

But, like I said, NFP came out really bad and thats what would have given me the confidence that it would keep dropping today.

Having said that, Im still clueless when we are not in a huge move...it seems like everything I try only works half the time during those times...so Im still learning

I dont think the point is to catch huge moves, it's to have a set target and reach it. If you want 50 pips, take 50 pips and stop, if 50 pips = 10%.. what could be better than that compounding week after week after week? Overtrading is the real killer. Aim for target, shoot, be happy. If the market goes another million pips
after you reached your target it shouldnt bother you the least bit, IMHO.
Ofcourse having a maximum pip loss youre willing to give back to the market on any given day is a good idea. If the good entries are picked.. market should never reverse on you straight away, at least not more than 2 pips before going in your direction.

Once it's gone your way what you do is up to you. I aim for approx. 10 pips per trade, if I see it's giving more, it's very welcome . Once I'm 5 pips in I run the stop to breakeven or a couple of pips behind faster than you can blink. If that gets hit so be it, nothing or little is lost
(little =2-3 pips). If the rainbow moves very fast my way- great I take the profits on the first slowing of price, I dont care how much further it will go I'm chikin, may re-enter.. just waiting for an objective re-enter signal.

I'm willing to give back 20 pips back to the market, not limited by number of trades. If the market moves against me straight away on entry it's obviously not a prime entry, gets closed immediately regardless of what may or may not happen afterwards (yes it can fall a gazillion pips right after, and that may be catchable or may not) 20 pips lost? I call it a day.. look at the stupid mistakes but most importantly no more trading because revenge factor and irrational thinking come into play, the brain is no longer thinking it's just primal instinct.

If I lost 16 pips during the session and there has been a total profit of 26 pips.. my target is not 24 pips it's 40 pips... I will continue trading until 50 pips total is reached, if the 20 pip loss comes before that, trading stops. Make your own rules. Contrary to the Mantra I never change the number of lots traded. I have my targets and limits.

Stops are subjective.. you may or may not want to use one but for me always just above the new fresh baby spine (not a fully expanded rainbow's spine after entering in the middle of the move..very subjective issue...) until the aforementioned conditions occur.


Conclusion: Aim low, but welcome more pips than planned, protect the pips you already have like they were your mother and father under threat by a tidal wave.
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