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Linuxtroll Simple Scalping

  • #1,501
  • Sep 16, 2007 1:55pm Sep 16, 2007 1:55pm
BTW, I agree with you LinuxTroll...don't get greedy. When the market pays you for your diligence take it and move on. 8, 10, 15 pips may not sound like much but let us remember that its not the pips that matter, its how many lots one is using and pip cost that is determining just how much money one is making. That's the beauty of FOREX, it's possible to live comfortably on just 10 pips a day.
  • #1,502
  • Sep 16, 2007 2:31pm Sep 16, 2007 2:31pm
Quoting jjrvat
11:26 Spine cut the H LINE:
jjrvat, this is a very helpful thought process you walked us through. Thank you very much! At this time when you talk about the h-line being broken, you're basically saying that the longest (slowest) MAs (the spine) are changing from positive slope to neutral/negative slope, correct?
  • #1,503
  • Sep 16, 2007 3:02pm Sep 16, 2007 3:02pm
Quoting dominicanosrus
Bruno, Ninja works with EFX/MBT for futures; not for spot. I spoke to them in the past about this already.
D. many thanks for all your valuable posts. My idea was to use Ninja only for charting - watching Rainbow visualy. I know that N. still does not work for real trading.
  • #1,504
  • Sep 16, 2007 3:26pm Sep 16, 2007 3:26pm
Quoting dominicanosrus
I will, after you publish your e-book?
The Eagle Has Landed
  • #1,505
  • Sep 16, 2007 3:34pm Sep 16, 2007 3:34pm
Quoting linuxtroll
The Eagle Has Landed
  • #1,506
  • Sep 16, 2007 4:17pm Sep 16, 2007 4:17pm
Hello Linuxtroll been following the rainbow. It's working well for me (Demo) also everyone else that posts with charts your making it easier for all.. Will be posting charts of my own soon. Linuxtroll I see at your website for Linuxtroll Simple Scalping is that price for your E-Book only, or any further training? ..... Thank You all......JohnnyOhOh
  • #1,507
  • Sep 16, 2007 4:31pm Sep 16, 2007 4:31pm
Quoting eyevoltage
....and I think the reason I haven't posted in the past was that it seemed everybody on here seemed to be more "clued-up" than me! There are aspects of trading the rainbow that still confuse me, so I've confined myself to trying to trade pull-backs and breakouts. The example below shows two trades I made on Friday which seem to be a bit of both, really. The first one involved waiting for the price to drop through S1 and then exiting for 7 pips after spread. The second trade was fairly straightforward, again waiting for the price to go through S1, but I was a little late getting in. My target on each trade was the next support line down (S1.5), but I hopped out of the first one at the appearance of the doji. I hopped out of the second one 2 pips above S1.5, which turned out to be a premature exit, but still, with a nice profit.
By the way, the Dynamic Zone indicator is something I use that usually improves the accuracy of the entry point.

JoshDance, thanks for the "kick up the ass"!! Also, if there's anybody out there can advise me on how to trade the "fold-over", I'd be very grateful.
Cheers
Helllo eyevoltage,

Excellent trades!

I feel more comfortable to trade 1 min than 5 or 10 sec TF and I am glad to see there are others who trades 1 min - birds view. More chances of longer legs and the spread is much less relatve to the leg length. For me paying costs (=spead) more than 10 to 20% of gross pips is prohibitive.

Is the Dynamic zone RSI something you can share here? I agree with you the aids of simple indicators like RSI and/or MACD do improve my decision on the trigger points.

Happy scalping!
RS
  • #1,508
  • Sep 16, 2007 4:45pm Sep 16, 2007 4:45pm
E-book purchased as show of support.
  • #1,509
  • Sep 16, 2007 5:11pm Sep 16, 2007 5:11pm
Quoting bobblong
E-book purchased as show of support.
Ditto
  • #1,510
  • Sep 16, 2007 5:19pm Sep 16, 2007 5:19pm
Quoting RisingSun
Helllo eyevoltage,

Excellent trades!

I feel more comfortable to trade 1 min than 5 or 10 sec TF and I am glad to see there are others who trades 1 min - birds view. More chances of longer legs and the spread is much less relatve to the leg length. For me paying costs (=spead) more than 10 to 20% of gross pips is prohibitive.

Is the Dynamic zone RSI something you can share here? I agree with you the aids of simple indicators like RSI and/or MACD do improve my decision on the trigger points.

Happy scalping!
RS
Thanks for your comments, mate, and like you, I'm pleased that there are others using the 1m charts. I know Linuxtroll suggests using the 5sec chart, but I'm more comfortable with the 1m. Strange, really, as until recently, I would never have gone below 15m, apart from the odd trade on Philip Nel's 5m Intraday system! I guess I couldn't really see the potential of the 1m chart until I discovered the rainbow concept. Unlike a lot of others on this thread, I've had a real struggle trying to figure out how to trade the rainbow, but slowly light is dawning, I'm glad to say. Because of the trouble I was having pin-pointing potential trades, I started using the Dynamic Zone RSI to see if it would be of any help in pointing me in the right direction. I've got a little disenchanted by indicators recently, but this one seems to be the "business", as they say, and it's used extensively in Dollie's method. The concept of the DZR indicator revolves around the green RSI line crossing the blue MA line. Crossing down indicates a possible short trade, whilst crossing up etc etc. However, I only use the cross as a "heads-up", and I then wait for the green line to cross the middle dotted red line. I've been surprised at just how accurate that particular cross is. Further theory is that when the green line goes on to cross the orange band, it indicates that there's more strength to the move. I don't usually use the indicator for exit pointers, preferring to use the chart grid or pivot lines. Quite honestly, I would prefer to use the rainbow method WITHOUT any indicators, but until I feel confident about naked trading, I'll probably carry on using the DZR. Anyway, I've attached it in case anyone fancies giving it a try.
Cheers
Attached File(s)
File Type: ex4 Dynamic_Zone_RSI 2.ex4   4 KB | 639 downloads
  • #1,511
  • Sep 16, 2007 5:37pm Sep 16, 2007 5:37pm
Does anyone have the link to the e-book?
  • #1,512
  • Sep 16, 2007 5:45pm Sep 16, 2007 5:45pm
Here you go http://www.cyrox.com/ ....JohnnyOhOh
  • #1,513
  • Sep 16, 2007 5:47pm Sep 16, 2007 5:47pm
Thanx Johnny!
  • #1,514
  • Sep 16, 2007 5:51pm Sep 16, 2007 5:51pm
Quoting bobblong
E-book purchased as show of support.
Thanks Bobblong... Charge on... Make Money...
  • #1,515
  • Sep 16, 2007 5:53pm Sep 16, 2007 5:53pm
Quoting FXSurfer
Ditto
Thanks FXSurfer... What happened to the Fan Club President title?
  • #1,516
  • Sep 16, 2007 6:22pm Sep 16, 2007 6:22pm
Quoting linuxtroll
Thanks FXSurfer... What happened to the Fan Club President title?
Thank You LT!
Great job by you and the Mrs!


P.S. I'm still President! Just changed the title to reflect
a period existential introspection.
Thus Spoke the Rainbow Scalper Zarathustra
LOL
  • #1,517
  • Sep 16, 2007 6:26pm Sep 16, 2007 6:26pm
Hello Dear Linuxtroll, E-book bought.

Much eager to read it and I know in advance that it help me a lot

Thank again

Sincerely

Shreem
  • #1,518
  • Sep 16, 2007 6:51pm Sep 16, 2007 6:51pm
Quoting shreem
Hello Dear Linuxtroll, E-book bought.

Much eager to read it and I know in advance that it help me a lot

Thank again

Sincerely

Shreem
Thanks Shreem... Charge on... Make Money...
  • #1,519
  • Sep 16, 2007 7:54pm Sep 16, 2007 7:54pm
Bought E-book, am excited. I can't wait to read it. When will we be able to get it?
  • #1,520
  • Sep 16, 2007 8:13pm Sep 16, 2007 8:13pm
Quoting Bruno
D. many thanks for all your valuable posts. My idea was to use Ninja only for charting - watching Rainbow visualy. I know that N. still does not work for real trading.
No problem, Bruno. My understanding is that you can't even chart the spot forex feed from EFX/MBT with Ninja; only the currency futures - but maybe this changed recently. I'm not sure.
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