i dont have 1-2 hours of screen time, i said i can check the screen every 1-2 hours, every time for a couple of minutes which allows me to place or exit a trade. but you're right, this is not lss. so how about the cci 21? it was mentioned here on this post
i'll start using lss as soon as i get more time. hopefully the system i'm using now will help me quit my daytime job
That's because OANDA is a market maker (MM) and the spread is being "manipulated." There's no "real spread" in forex, but an ECN is surely a heck of a lot closer to what the market is supposed to be than a MM.
Nevertheless, 3 to 5 seconds seems like a long time. I've never seen this in any of the spreads we have worked with. If it's true, it sounds like a way to print money!
Hi jjrvat;
Why occasions you enter with a Dax contract and others with three contracts?
Sorry for my bad english
Thanks guy.
Well, since you suggested, why not post some of your charts or thoughts? Many people here have posted theirs, and I have as well. If you want the discussion to progress, then why don't you initiate with a contribution?
Also, if there's anybody out there can advise me on how to trade the "fold-over", I'd be very grateful.
LT I want to thank you again for sharing your method... The rainbow hasn’t stopped to amaze me everytime I look at any market in any timeframe ....
I think is a good time to share what I have gained during these months. I hope that sharing the way a learnt how to use the rainbow may help other honest, small traders in this forum and improve the way it can be used.... I don’t want to hijack your Thread and please correct if a got something wrong.
Note:
1. I only use the rainbow when trading …. all other indicators (they are worthless now except for pivot points) on the chart only help me at beginning to better understand the rainbow and how to spot a good setup…
This is a “Book Example” of how good is the rainbow….
My rules for the rainbow:
Pre Trading: Determine the time you are trading (In the example 11:00 to 13:00)
Step 1: Spot the direction of the market using the “spine” (RED WMAs).
Question: Did they break the H Line? NO
Answers: No: Step Aside / Yes: Step 2
In the chart at 11:00, RED WMAS going up but losing strength and they probably are not going to cut the next H Line. Step Aside
11:15 Price moving down (=MACD below 0 + Slope of fast WMA down) but spine hasn’t cut the H line yet (= Pivot Support 1 is really close so a warning signal… it has to break it to have a major move down) = Step aside
11:26 Spine cut the H LINE:
Step 2: Looking for entries:
11:39: Great entry but not perfect: Slope of fast WMAS going down + Price almost broke all of them!!!(Overbought Stochastic (Red Arrow) Macd (Slower MA above Fast and starting to cross back = Retracement).
The entry is not perfect because the proximity of the pivot support 1 point.
Step 3: Looking for exits:
Options:
1. Conservative Exit. 11:49: A great, reliable and safe exits is the S1 support. (+ oversold Stochastic Green Arrow) Profit 4 to 6 “easy” “low risk” pips
2. Normal Exit. 11:55 When the slope of the faster WMA change or cut the H line. Profits 6 to 12 pips
3. Aggressive Exit 12:20: Knowing that the pivot support was recently broken you can aim to exit in the next pivot 25 to 30 pips
Step 4: Reentries:
1. Every time the faster WMAS slope start going back again after a mini pullback (11:47, 11:59, 12:30) or (MACD MA fast crossback the slow as long is below 0)
2. Only rule of thumb is: new low/high is lower/higher than the previous low/high.
I hope it helps. The key for a good setup is respecting the first steps: Determine the time, Spot the direction of the market using the “spine” and waiting for H line crosses…. The rest is pure mechanics.
Good luck to all
jjrvat
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where do you put your stop?
Nice post
LT I want to thank you again for sharing your method... The rainbow hasn’t stopped to amaze me everytime I look at any market in any timeframe ....
