Attachments: Linuxtroll Simple Scalping

Linuxtroll Simple Scalping

#1,661
Sep 20, 2007 8:27am Sep 20, 2007 8:27am

kermut
| Joined Sep 2005 | Status: Trader | 327 Posts

Hello LT and everyone.

This is my first scalp after reading the book. Would appreciated the feedback, and anything that I could have done better. I had my tp pre-set to 6 pips. Thanks in advance to everyone.

Cheers,
K.

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#1,662
Sep 20, 2007 10:52am Sep 20, 2007 10:52am

shreem
| Joined Apr 2006 | Status: Pips for everybody | 274 Posts

Hello Linuxtroll, just wanted to compliment you on the charts that you posted real-time earlier today. It is a very great learnign tool to help understand even better how to see things developing in real time.

Great idea that you had there.

Will be more than happy when you will start your thread about high probability pattern and setup

P.S. Just a little sad

note for me. As I am living in quebec province, I cannot have an account with an ECN like EFX and so cannot beneficiate from the almost spread in my scalp. So, if somebody know about an ECN who accept resident from quebec and have a minimum account rule of 2000$ or less, please let me know

Sincerely

Shreem

#1,663
Sep 20, 2007 10:58am Sep 20, 2007 10:58am

Canyouseeme
| Joined May 2007 | Status: Trader | 208 Posts

Quoting shreem

Disliked

Hello Linuxtroll, just wanted to compliment you on the charts that you posted real-time earlier today. It is a very great learnign tool to help understand even better how to see things developing in real time.

Great idea that you had there.

Will be more than happy when you will start your thread about high probability pattern and setup

P.S. Just a little sad note for me. As I am living in quebec province, I cannot have an account with an ECN like EFX and so cannot beneficiate from the almost spread in my scalp. So, if somebody know about an ECN who accept resident from quebec and have a minimum account rule of 2000$ or less, please let me know

Sincerely

Shreem

Ignored

There is no other (big) ECN (I know of) besides EFX that accepts <$10k accounts.

BUT Oanda is fine for rainbow scalping.

Seriously, you are just about to start out, don't worry about the broker, an ECN does not make you a profitable scalper on it's own.

#1,664
Sep 20, 2007 11:02am Sep 20, 2007 11:02am

Canyouseeme
| Joined May 2007 | Status: Trader | 208 Posts

Quoting kermut

Disliked

Hello LT and everyone.

This is my first scalp after reading the book. Would appreciated the feedback, and anything that I could have done better. I had my tp pre-set to 6 pips. Thanks in advance to everyone.

Cheers,
K.

Ignored

Downwards spine, breakout, and the penetration of H line. Looks like you got nice fixed trading rules

if that's what works for you you shouldn't change it.

As you progress you might consider switching from using a TP to just exiting whenever the price moves against you.

#1,665
Sep 20, 2007 11:07am Sep 20, 2007 11:07am

shreem
| Joined Apr 2006 | Status: Pips for everybody | 274 Posts

Hello Canyouseeme, thank fro the reply. That is what I was thinking. You are right, it is not the broker who will make you successful or not with this sclaping method. It can just help reduce some costs.

BTW, I use FXsol and the eur/jpy spread is 4 pips. I guess it just help me to look only for high probability trade. I do also have an account with Oanda but do not really like the platform. Just a preference.

So, dear Canyouseeme, wishing great scalping

Sincerely

Shreem

#1,666
Sep 20, 2007 11:07am Sep 20, 2007 11:07am

johnny022
| Joined Sep 2006 | Status: Trader | 2 Posts

Thanks LT ,WONDERFULL way to make money.
Well I add the 68wma to the rainbow(it's represent the 34 wma of 1min TF) and noticed that 80% of the time price makes DT o DB,it's goes the other way,same thing happen on 5sec TF but with 34wma of 30sec TF(DO THE MATH,34X30/5).
your opinions pals.
johnny.

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#1,667
Sep 20, 2007 11:24am Sep 20, 2007 11:24am

johnny022
| Joined Sep 2006 | Status: Trader | 2 Posts

GBP-USD

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#1,668
Sep 20, 2007 12:53pm Sep 20, 2007 12:53pm

FXFlash52
| Joined Jun 2004 | Status: Trader | 8 Posts

Quoting shreem

Disliked

P.S. Just a little sad note for me. As I am living in quebec province, I cannot have an account with an ECN like EFX and so cannot beneficiate from the almost spread in my scalp. So, if somebody know about an ECN who accept resident from quebec and have a minimum account rule of 2000$ or less, please let me know

Sincerely

Shreem

Ignored

Shreem, You might try Interactive Brokers Canada, however I believe they require $5,000 initial deposit for a universal acct and $2,000 minimum ongoing balance to allow trading.

#1,669
Sep 20, 2007 12:53pm Sep 20, 2007 12:53pm

Canyouseeme
| Joined May 2007 | Status: Trader | 208 Posts

Quoting johnny022

Disliked

Thanks LT ,WONDERFULL way to make money.
Well I add the 68wma to the rainbow(it's represent the 34 wma of 1min TF) and noticed that 80% of the time price makes DT o DB,it's goes the other way,same thing happen on 5sec TF but with 34wma of 30sec TF(DO THE MATH,34X30/5).
your opinions pals.
johnny.

Ignored

Using WMAs within the rainbow for entries and exits is of course a way you CAN trade. Especially the idea to use a specific WMA for exit is appealing since this means that you adapt your SL dynamical to the strength of the trend (strong trend bigger SL, weak trend small SL).

However, there is no magic WMA that tells you the "best" exits all the time.
It's all about finding your OWN method, sth that fits your style. If it is the 34 wma for you, go with it.

(my recommendation is to use it as profit target btw.)

Edit:
Using a specific WMA for exit can also have disadvantages for instance you will get stopped out all the time in very small trends and you will not be able to trade aggressive setups.

#1,670
Sep 20, 2007 6:52pm Sep 20, 2007 6:52pm

linuxtroll
| Commercial User | Joined Mar 2004 | 1,255 Posts

Quoting shreem

Disliked

Hello Linuxtroll, just wanted to compliment you on the charts that you posted real-time earlier today. It is a very great learnign tool to help understand even better how to see things developing in real time.

Great idea that you had there.

Will be more than happy when you will start your thread about high probability pattern and setup

P.S. Just a little sad note for me. As I am living in quebec province, I cannot have an account with an ECN like EFX and so cannot beneficiate from the almost spread in my scalp. So, if somebody know about an ECN who accept resident from quebec and have a minimum account rule of 2000$ or less, please let me know

Sincerely

Shreem

Ignored

Move to Ontario... LoL

#1,671
Sep 20, 2007 7:21pm Sep 20, 2007 7:21pm

shreem
| Joined Apr 2006 | Status: Pips for everybody | 274 Posts

Hello Linuxtroll and FXFlash52, thank for the suggestions for ECN. I guess playing diligently this scalping method and waiting patiently for high probability setup with the compounding effect will help me to increase my capital and will then go with a ECN like Interactive brokers, Open E-cry or others.

Sincerely

Shreem

#1,672
Sep 20, 2007 8:08pm Sep 20, 2007 8:08pm

creztor
| Joined May 2006 | Status: Trader | 98 Posts

My attempts at eur/jpy today from Tokyo open for 1 hour. Blue lines = buy (open/close) and red = sell (open/close) . All I can say is there's a long long long way to go yet for me

http://img225.imageshack.us/img225/6...nux2qh0.th.png

http://img292.imageshack.us/img292/4...nux3zm4.th.png
http://img292.imageshack.us/img292/434/linux4ea3.th.png
http://img98.imageshack.us/img98/9019/linux5ul2.th.png

#1,673
Sep 20, 2007 10:19pm Sep 20, 2007 10:19pm

Syafi
| Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts

Improving Entry ..... Please Advice

I realize, I didn't follow 2 rule..
1st 6 minute rule
2nd didn't get out when i realize its going down
believing the support will hold in this middle Asian session where It did Hold as usual..
I think its better to exit & re enter at the support ? Please Advice

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#1,674
Sep 20, 2007 11:27pm Sep 20, 2007 11:27pm

Syafi
| Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts

Another Trade...

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#1,675
Sep 21, 2007 1:04am Sep 21, 2007 1:04am

Canyouseeme
| Joined May 2007 | Status: Trader | 208 Posts

Quoting Syafi

Disliked

Another Trade...

Ignored

Zoom out. Distance between the H-Lines should be waay bigger.

#1,676
Sep 21, 2007 1:07am Sep 21, 2007 1:07am

Canyouseeme
| Joined May 2007 | Status: Trader | 208 Posts

Quoting Syafi

Disliked

Improving Entry ..... Please Advice

I realize, I didn't follow 2 rule..
1st 6 minute rule
2nd didn't get out when i realize its going down
believing the support will hold in this middle Asian session where It did Hold as usual..
I think its better to exit & re enter at the support ? Please Advice

Ignored

Don't worry that much about s/r zones. The rainbow will tell you if there is some trouble. Just watch the rainbow.

You need to find high probability setups.

#1,677
Sep 21, 2007 2:30am Sep 21, 2007 2:30am

FXSurfer
Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts

Quoting Canyouseeme

Disliked

You need to find high probability setups.

Ignored

Me too, S.

Actually, between re-re-re-reading the E-book (what a gem) and everyone
sharing charts, PM's and E-mails (THANKS) it's starting to work! I'm starting
to be able to jump in and (albeit much to quickly) out with some pips.
A long way to go but, I'm here for the long haul!