Linuxtroll Simple Scalping

Hello everybody . So todays day should be better for me. I made 8 pips, but commissions killed me. Anyway, i realized that my entries are quite good. Now i want improve my exits. I could grab more pips. i just scalped 5, 6 pips. but one -11 pips loss got me.

Happy trading to everyone .

I'm curious if we're necessarily supposed to stick to
black charts with no gridlines. Probably okay either
way, right? With or without pre-drawn H/V's?

Nice to see some new folks here! Hello!

if it helps, I don't use H/V lines, just my tick chart and 5 sec

EUR/USD

Hi,

[img=http://img361.imageshack.us/img361/2973/xxxxck3.th.jpg]

Chart is swinging up and down. Breakout and a pullback near a previous resitance. Retested the new support and moved up.


Finally stoped out with 8 PIPS profit.


All easy to see with this WMAs.

I think I read somewhere in a previous post that the LT Rainbow strategy is best used only during the first two hours upon London and NY open. Is this correct?

First two of London open are great since they are also the last two of tokyo,
and first two of ny open, yes most liquidity there.

in general first and last hour of open + overlapping times are the best.

Hello Canyouseeme

How do you use tick chart? and where can i find it?

My improved exits -1 and + 10 pips

I use fxcm live feed for 1-tick charts.
How do I use it? Good question ^^ I basically use it to zoom into the 5 sec chart. You see about the same tick chart is just a little bit faster.

Hello Canyouseeme,

How you can setup a tick chart with free resources?
Which free platform? Is there a demo account for the live feed?


Thank you
Basil

"Possums are relatively easy to catch. They
go for the fruit, they get caught, and then,
when the trapper approaches the trap, the
possum simply plays dead. It plays dead
because that’s the best defense mechanism
that it has.
A woodchuck is tougher to trap. A big
one might enter the trap, eat the fruit, and
then rip the trap apart, exit, and wander off
looking for more food. Or it might roll the
trap along the ground, set it off, and then
eat the fruit from the outside.
There is a fundamental characteristic of
unsuccessful forex traders: they trade forex
because it’s exciting, cool, or for its sex
appeal. The mystery behind the charts, the
notion that profits (although elusive) do
really exist, and that money can be made
quickly (but not predictably) all add up to
create a romantic fantasy that is too
appealing to avoid. When they start to lose
money, they leave their positions open,
close their eyes, and hope that the trap is
miraculously opened so they can be free
again.
This group – the Possums – is the largest
block of forex traders.
There is also a fundamental characteristic
of successful forex traders. They trade
forex because it makes them rich. They
trade because they know how to do it. They
do not trade for fun. Many of them are unimpressed by their own success. Most of them never share their secrets
with anyone. They take a methodical, almost boring, approach to forex trading.
They painstakingly build systems that,
although simple, may have taken years to
perfect. In the end, their lives are actually
quite boring – reduced to waiting for
predictable signals that are obeyed without
question.
This group – the Woodchucks – is the
smaller of the two groups. The Possums
outnumber the Woodchucks by a ratio of at
least 500:1. For every Woodchuck, there
are 500 Possums.
Are you a Woodchuck or a Possum?
Possums don’t want to learn the
intricacies of the forex market – the charts,
the signals, the nuts and bolts – because
they are afraid that once known, all these
details will ruin the romanticism of the
entire adventure. The mystery, the elusive
profits, the unknown, all contribute to
create an excitement that would be lost if
too much were discovered. Searching for
King Tut or the Titanic was big news.
Finding both was big news. When’s the last
time you heard about either? Once found,
the mystery was solved and the public went

on to other mysteries." - Rob Booker
-----------------------------------------------
http://i20.tinypic.com/e83ac5.jpg


Bob

Sry don't have much info on that stuff, I just use the live feed don't think there is one for demo accounts. You prob could create a live account with fxcm and just not trade with it

Maybe

http://www.netdania.com/ChartApplet.asp

helps.....subsecond

Hehee, Bruno. . Go play golf..... lol. it should help you .

There are some afternoons trades.

I don't know why I'm so undisciplined, I'm not able to follow the rules that Linuxtroll gave me.
I jump in too many bad trades, and when price start running for real I'm afraid to enter because I think it can reverse just after I entered, one example is today London open.
The problem is that before entering a trade I'm not afraid to loose but I'm more afraid to miss a nice move so I jump in and get stopped and jump in again in opposite direction and get stopped again.
When I was trading rainbow with demo account I was doing great, but now with real money I'm only loosing, I think I should start trading micro lot.
Fear and not being confident are my enemy and they are winning the battle.
How can I learn to be disciplinate? Only learning from bad trades?

Today I lost 50 pips in 6 bad trades in a row.

Hello my friend. I stop trading after two loosing trades in row. It means that something wrong is with me or with market. Or reduce lot size, and add when you feel more confident. It always help me. Happy trading

I had rainy day too. Let´s trade again 2mrw.

If I where you I would follow the Mantra "Earn the right to trade bigger."
Step back to where you are comfortable again then work up slowly.
Plus: Read "My Main Thoughts In Performing Well". It will help you get out
of the unresourceful state of mind. I also like reading Anthony Robbins.

I'm still learning too....however I'm surprised you ignored all spine entries on your chart and traded in the areas of consolidation instead......spine cuts V lines and H lines at a good angle, esp after ranging for a while... good probability trade at start of session....so i posted these in case they may be of any help... H + V lines in red...good luck and don't give up

Thanks my friend, I should do the same. This is what LT has suggested to me, the problem is in me, I get addicted to trading :-(

Anyway you are doing pretty good, keep up the good work!

Ciao