Wow! 100 Pages. Way to go LT!
- #1,424
- Sep 14, 2007 1:18am Sep 14, 2007 1:18am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies
Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies
1M & 5M Scalping System (Scalping Paradise) 21 replies
Simple Scalping System 64 replies
xPip Simple Scalping 27 replies
DislikedEURJPY was absolutely, totally exploitable over the last 24 hours. I happened to get in tonight and had 1 loser and 2 winners. (update, add another loser and another winner)Ignored
Disliked:-)
I'm sure LT would agree that while the tool, the rainbow MMAs, is our common tool, it can certainly be used in different ways. Multiple TFs are a great way to give the overall trend direction, and if it helps someone to use it, then they probably should! (lol, I still feel weird using 30s as a "long term" trend direction--geez! hehe)Ignored
Dislikedand there it was my first trade opportunity. Grabbing 30 pips was so nice and easy.Ignored
DislikedEURJPY was absolutely, totally exploitable over the last 24 hours. I happened to get in tonight and had 1 loser and 2 winners. (update, add another loser and another winner)Ignored
DislikedGreat Day !!!! I really like the Rainbow !!!!!
2 Trades:
1. Dax 10:00 - 10:15: 1 contract / 14 min / 38 "pips" / €380
2. FesX 10:30 - 10:45: 3 Constrats / 7 "pips" /14 min / €200
jjrvat
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DislikedYou are doing very wellcan I ask you why you prefer to trade futures and not forex?
Happy scalpingIgnored
DislikedHi everyone,
I was following this thread for some time, so I decided to give it a try.
Opened an Oanda game account and added the WMAs, still getting familiar with the platform and there it was my first trade opportunity. Grabbing 30 pips was so nice and easy. Maybe the exit was not so good.
Any comments or suggestions would be welcomed.Ignored
DislikedYes it has been one these weeks that you think that you are the KING OF the WORLD.... but of course I know is not always like that... Moreover, when you hit the jackpot in the first trade of the week you feel so confident + you can risk more + you stop worrying about one ore two lossing trades so everything is "clear":
Positive psychology + Confidence + LT rainbow + 2 hours max of trading at right time + a bit of luck = Succesfull Trading
About the futures let me ask you back Why do you trade forex? .
I know this a forex forum but in my case not only I dont find any advantage in trading forex but I only find disadvantages... Bad brokers, Spreads (2.5 pips for Jpy/EUR is ridiculous) + Commisions + etc, etc.
Look I trade futures from the DOM, I know exactly bid and offer, everything is trade in one of the Stock Exchanges (CME, Eurex, etc), no spread, low commissions (you paid depending of your broker $2 to $4 per trade and thats it), they cant shutdown servers, manipulate data, etc, etc and more important 1 pip in your favor and you are already in profits!!!....
In Futures I can trade high risk, volatility instruments as wild as the DAX Er2, Oil, Silver, which are much superior than the EUR/JP cross which right now provides the best opportunities for scalping in forex, and also can trade slower instruments.... you have options for every taste.... So why bother with forex...
Of course in my case I can afford the risk of trading 1 contract. Usually 1 contract is +/- $10 per pip. The only advantage of forex is that you can trade mini lots .... But still I prefer to trade a slower contact in futures....
For me moving to futures was like driving a Ferrari instead of a LADA...
jjrvatIgnored
Disliked30 second as long term chart is very long term chart for our purpose.Ignored
DislikedThanks for your answer!
Many times I've thought to trade futures, but I want to start with forex because of starting capital and leverage and because broker gives free demo to learn. I never traded futures, are there any futures broker offering free demo? what broker are you using?
Thanks and happy scalping!
AlessandroIgnored
DislikedAlessandro
Small starting capital is a big issue (The minimun to open a futures account is +/- $2500 but $5000 is the average), about the leverage I'm no sure what do you mean? 1 Future Contract of USD/JP = 10 forex lots (I think) or every pip = +/- $12.5 and you need as low as $500 per contract in your account to trade.
Most of the futures brokers offer a free demo account. My broker is OEC and my charting software is SierraCharts but if you want to try the rainbow in a Demo account (OEC charts are not good enough for the rainbow) I will recommend any broker that works with Transact (i.e infinitybrokers) because they will give you access to SierraCharts which is avery good charting plataform. Other brokers offer access to Neoticker or Multicharts which are more pro trading and charting plataforms....
Give it a try to futures you wont regret, plus you will forget about the spread differences or broker issues....
jjrvatIgnored