Linuxtroll Simple Scalping | Page 97 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Linuxtroll Simple Scalping
Exit Attachments

Linuxtroll Simple Scalping

  • #1,921
  • Sep 27, 2007 11:45am Sep 27, 2007 11:45am
Quoting FXSurfer
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.

Thanks! I will watch "The Secret" movie again,and after " The Pursuit of Happyness" . After I will write down my rules on a Bigger format and put them in front of me so I can read them before entering a trade.

I'm also writeing some question to ask before choosing a wave to follow:

- Is the spine already formed and with good inclination?
- Is the flame going in the same direction?
- is the spine going to cross an H/V Line?

If yes Enter , if not Wait!
  • #1,922
  • Sep 27, 2007 1:12pm Sep 27, 2007 1:12pm
Thanks Bob , it was great to read this article. I am surprise not many people like it as I am.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #1,923
  • Sep 27, 2007 2:42pm Sep 27, 2007 2:42pm
Has anyone created the Rainbow with eSignal and have a style template saved?

Thanks,

7
  • #1,924
  • Sep 27, 2007 4:06pm Sep 27, 2007 4:06pm
Hey all,
Just reminding you to get your email in to Justin if you haven't already for omega--that is if you are moving in that direction--looks like they are only putting traders on in blocks of 40. ItalianFX looks like we traded the same thing this morning--NY Session. I wait till right at 8 and take the contrary view when the price action clears the 240 on a retrace--it had already done this 2x signaling either a consolidation period or a retrace. There were pips to be made (key to me is fast entry, not breach of support)...I'm trading live too and I didn't trade it right either, I got in right, but my exit was not really where I wanted it--should have gotten out at 10. But this is stuff we learn the more we trade. And I should have traded the nice retrace as LT would have for some more nice profit, but I was bummed about my -.2 pull out mistake (caused by greed yet again). I'm not nearly as good as CYSM at seeing good entries, so have confined myself to the 1st 2 moves of any open--seems to work quite well and should yield when I get the most comfortable with it close to 50p/week, more than enough for me to spend more time on the lake than in the office...pk
  • #1,925
  • Sep 27, 2007 4:14pm Sep 27, 2007 4:14pm
Hey bruno, just a quick question...have you gotten the superdom to work on Ninja, any tips to get it working--would love to see how it demo trades...pk
  • #1,926
  • Sep 27, 2007 8:01pm Sep 27, 2007 8:01pm
Tokyo open for 1 hour. The way its moving now it would be hard not to pick some good setups Typical happens just after I quit for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: aa.png Size: 92 KB
  • #1,927
  • Sep 27, 2007 8:32pm Sep 27, 2007 8:32pm
In my opinion.. To be able to get the hold on the high Probability forex scalp trade is to trade non stop until you eat forex, you sleep forex, you dream forex.. everything you do, you see the rainbow, everything you see you see the rainbow and the

easiest way to do that for beginner is watching the rainbow and jump in and out.. maybe 20 or 30 times an hour, since you are actually trying to learn the system to make you money in future, you are not suppose to worry about being right or wrong. Just try it and do it hundreds of time a day..

Use 1k lot (10cent) or $100 lot (1cent) or even $10 lot (0.1cent / pip)

yesterday I made 260 pip positive using 1 cent trade.

its soo easy when there is no burden no rush to be right all the time ....
slowly everyone can achieve 90-95% rate if you start doing it that way,

Get the notion, you MUST make money on each trade to fade away, leg go of the notion, you Cannot do any mistake. then you shall progress as a child progress. and they progress fast......

lets practice
  • #1,928
  • Sep 27, 2007 8:40pm Sep 27, 2007 8:40pm
[quote=Blazer;1613751]

...My laptop is slow, so I don't know if it is the laptop or OANDA traders platform(not game) going back 3-5 sec from navigator prices.

...
The goal is to have the 3-4 OANDA charts running real time with Navigator to the second in order to take the best desicions.3-5 seconds later you might be out 10-200 pips.


Hi,

OANDA lags Navigator in their quotes due to the nature of broker: Market Maker vs. ECN. MM need some "cooking" time while ECN don't, by theory.

Note that the "order execution time" can be reverse, where with ECN you may experience slower-than-mm. You will experience this once you trade live.

My suggestion is you first open live accounts of both and trade very small. It's not too late to decide whether to buy a new PC or monitors and cards after you actually see how it will be like ...

My 2 yen ... RS
  • #1,929
  • Sep 27, 2007 8:44pm Sep 27, 2007 8:44pm
wah, triple post.. internet connection real bad... reload & see more post hehe.
  • #1,930
  • Sep 27, 2007 8:52pm Sep 27, 2007 8:52pm
double post..
  • #1,931
  • Sep 27, 2007 9:16pm Sep 27, 2007 9:16pm
Quoting Syafi
In my opinion.. To be able to get the hold on the high Probability forex scalp trade is to trade non stop until you eat forex, you sleep forex, you dream forex.. everything you do, you see the rainbow, everything you see you see the rainbow and the

easiest way to do that for beginner is watching the rainbow and jump in and out.. maybe 20 or 30 times an hour, since you are actually trying to learn the system to make you money in future, you are not suppose to worry about being right or wrong. Just try it and do it hundreds of time a day..

Use 1k lot (10cent) or $100 lot (1cent) or even $10 lot (0.1cent / pip)

yesterday I made 260 pip positive using 1 cent trade.

its soo easy when there is no burden no rush to be right all the time ....
slowly everyone can achieve 90-95% rate if you start doing it that way,

Get the notion, you MUST make money on each trade to fade away, leg go of the notion, you Cannot do any mistake. then you shall progress as a child progress. and they progress fast......

lets practice
You are going to hit the million dollar mark before Christmas... LoL
  • #1,932
  • Sep 27, 2007 11:05pm Sep 27, 2007 11:05pm
Quoting eyecelll
not sure where it is in the thread but i have it saved
here you go
On the blue rainbow, what is the LWMA's?

POST 1963

Thanks, Ken
  • #1,933
  • Sep 28, 2007 2:43am Sep 28, 2007 2:43am
Just wanted to find out if there's anyone else here trading lots in the range of 400K to 1mill?? If so, what are your experiences with Oanda, or EFX maybe perhaps?? If anyone is using any other brokers for trading larger lots?

I find EFX to be too expensive when trading at these lot levels, and with oanda, I don know if its in my head or its me I tend to find that when I exit my positions, immediately the price jumps in my favor an extra 3-4 pips and also when I'm up 3-4 pips and i'm trying to exit, my pips lot of times end up a 0.5 to a 1 pip short against me after i click to close the position, so if i see 4 pips and i click close, even though i see on my screen 4 pips by the time it closes, i see a reduction of the pip amount. Those things never happened when trading smaller amounts. So just wondering if anyone else experienced anything similar with higher lots trading oanda?

Thanks

Ron
  • #1,934
  • Sep 28, 2007 2:49am Sep 28, 2007 2:49am
By the way, I'm trying to start a trading group for traders in the Toronto, Ontario and the surrounding GTA areas. If anyone is from the area and would like to join and share trading ideas/experiences please send me a PM. It would be cool to meet up other fellow rainbow scalpers from around here..

Regards,

Ron
  • #1,935
  • Sep 28, 2007 4:01am Sep 28, 2007 4:01am
Quoting Syafi
easiest way to do that for beginner is watching the rainbow and jump in and out.. maybe 20 or 30 times an hour, since you are actually trying to learn the system to make you money in future, you are not suppose to worry about
being right or wrong. Just try it and do it hundreds of time a day..

Get the notion, you MUST make money on each trade to fade away, leg go of the notion, you Cannot do any mistake. then you shall progress as a child progress. and they progress fast......

Good advice, thanks. LT has recommended the same in the past but I needed the reminder...
  • #1,936
  • Sep 28, 2007 5:05am Sep 28, 2007 5:05am
Quoting arielkorber
Good advice, thanks. LT has recommended the same in the past but I needed the reminder...
post your 100 trade today ...... ...
  • #1,937
  • Sep 28, 2007 6:38am Sep 28, 2007 6:38am
Quoting megamo
Just wanted to find out if there's anyone else here trading lots in the range of 400K to 1mill?? If so, what are your experiences with Oanda, or EFX maybe perhaps?? If anyone is using any other brokers for trading larger lots?

I find EFX to be too expensive when trading at these lot levels, and with oanda, I don know if its in my head or its me I tend to find that when I exit my positions, immediately the price jumps in my favor an extra 3-4 pips and also when I'm up 3-4 pips and i'm trying to exit, my pips lot of times end up a 0.5 to a 1 pip short against me after i click to close the position, so if i see 4 pips and i click close, even though i see on my screen 4 pips by the time it closes, i see a reduction of the pip amount. Those things never happened when trading smaller amounts. So just wondering if anyone else experienced anything similar with higher lots trading oanda?

Thanks

Ron
You are right, Ron; EFX is mega expensive and will eat up all or most of your profits on scalps of 2 pips or less.

The reason you're experiencing what you mention on Oanda is because, no matter how you slice it, they are a market maker. Memorize this equation:

Market Maker = Price Manipulation

These two terms are interchangable.

I've never used Oanda to trade and I know many people here use their charts for the 5-second interval that LT likes, so I'm not familiar with the types of orders they allow. An essential ingredient in a scalping platform is the ability to send Fill-or-Kill orders +/- a slippage factor to minimize the probability of being slipped. This is especially important during volatile times like after releases and it will protect you from gaps after your order is submitted. It seems to me that many people here that trade with Oanda use market orders. I may be wrong - so I apologize if I am.
  • #1,938
  • Sep 28, 2007 6:48am Sep 28, 2007 6:48am
Quoting dominicanosrus
You are right, Ron; EFX is mega expensive and will eat up all or most of your profits on scalps of 2 pips or less.

The reason you're experiencing what you mention on Oanda is because, no matter how you slice it, they are a market maker. Memorize this equation:

Market Maker = Price Manipulation

These two terms are interchangable.

I've never used Oanda to trade and I know many people here use their charts for the 5-second interval that LT likes, so I'm not familiar with the types of orders they allow. An essential ingredient in a scalping platform is the ability to send Fill-or-Kill orders +/- a slippage factor to minimize the probability of being slipped. This is especially important during volatile times like after releases and it will protect you from gaps after your order is submitted. It seems to me that many people here that trade with Oanda use market orders. I may be wrong - so I apologize if I am.
Well I assume most people, like me, would put in market orders on oanda instead of a limit just because of the nature of LT's system, you have to be quick in spotting the changes in the rainbow and you don't have time to put in limit orders or units, I have mine pre-set at a set lot level and preset stops and take profits so my execution is very quick. Since I only go for 2-5 pip profit levels, you are right, EFX is taking up alot of my profits, alot of times break even with these kind of take profits.. Anyhow, there has got to be a solution to all this, if you do have any recommendations, leme know.
  • #1,939
  • Sep 28, 2007 7:08am Sep 28, 2007 7:08am
open an institutional account. hotspotfxi.com might do the trick.

also you should remember, when you put very large order at low volume time of day, your order will move the market...

Even with my small order, I can halt a movement..

I use limit order with rainbow and i got fill most of the time. only when the price movement is fast, i dont get fill.
  • #1,940
  • Sep 28, 2007 7:26am Sep 28, 2007 7:26am
Quoting megamo
Well I assume most people, like me, would put in market orders on oanda instead of a limit just because of the nature of LT's system, you have to be quick in spotting the changes in the rainbow and you don't have time to put in limit orders or units, I have mine pre-set at a set lot level and preset stops and take profits so my execution is very quick. Since I only go for 2-5 pip profit levels, you are right, EFX is taking up alot of my profits, alot of times break even with these kind of take profits.. Anyhow, there has got to be a solution to all this, if you do have any recommendations, leme know.
Using market orders is a receipe for disaster because you can get screwed when the price gaps. That's why you see all these threads on the forums of people complaining. If you don't have one-click execution on limits or fill-or-kills, then it won't work. ChoiceFx with Currenex is another option because everything can be done with one click; FOK + TP + SL. It will add around $8 per million to your execution, but it is worth it. You need $25,000 to trade with a Currenex broker though. Let me know if you need more info on any of this.
4 traders viewing now