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Linuxtroll Simple Scalping

  • #2,161
  • Oct 8, 2007 9:32am Oct 8, 2007 9:32am
Quoting boiseboy
Hello LT and Everyone:

Although this is a little different from H-line, V-line and spine analysis, I found the attached Martin Pring article quite helpful as a starting point--especially for beginners. This is an excellent way to begin looking for high probability entries and staying out of bad ones. He looks at classic peak and trough analysis, which can be especially apparent in Rainbow Scalping since LT advises using "Average Price" (or WMA1) for visualization.

If you'd prefer not to read the 5 page article, Pring has a five-minute video explaining the exact same thing on his website:

http://www.pring.com/movies/peakandtrough.html

This is just my contribution to this excellent thread; I hope it helps.

Ed
Great contribution for aggressive scalpers out there Boiseboy... In Cyrox Rainbow - This is Flame analysis (peak and trough)... Trend strength and direction are shown by other moving averages and the distance between the Flame and Spine... v-line, h-line and S/R will help to monitor the Flame's action... All just defined in the Linuxtroll Simple Scalping e-book...
  • #2,162
  • Oct 8, 2007 9:39am Oct 8, 2007 9:39am
Quoting TypeSzH
I need a lot of work. Thanks to everyone for discussing this method.
It is not that much of a work... just a couple of weeks of screen time... Jump in and out... Work Smart not Hard... Always keep it simple and smart...
  • #2,163
  • Oct 8, 2007 2:33pm Oct 8, 2007 2:33pm
Quoting linuxtroll
just a couple of weeks of screen time...
  • #2,164
  • Oct 8, 2007 3:14pm Oct 8, 2007 3:14pm
Quoting FXSurfer
:surprised
  • #2,165
  • Oct 8, 2007 3:24pm Oct 8, 2007 3:24pm
Quoting linuxtroll
:surprised





--Mark
EllisEdi Moving on to my next trade ...
  • #2,166
  • Oct 8, 2007 3:26pm Oct 8, 2007 3:26pm
Quoting FXSurfer
Just embarrassed that it's taking me longer!
  • #2,167
  • Oct 8, 2007 3:33pm Oct 8, 2007 3:33pm
Quoting FXSurfer
Just embarrassed that it's taking me longer!
That's why I was surprised... LoL
  • #2,168
  • Oct 8, 2007 3:47pm Oct 8, 2007 3:47pm
Quoting linuxtroll
That's why I was surprised... LoL
This is having to do with me at my stage of development and not
Rainbow or anything else. It's like Douglas mentions when he talks
about a kind of screen or block that traders experience between
themselves and the reality of what's going on right in front of them
in the market. All mental/emotional blocks! How do I know? I'm an
expert at spotting patterns, entries and exits etc. when just watching.
But, when it's time to pull the trigger things get real foggy. The sad
part - I'm still on demo! The great part is that as this gets better
it's personal growth that improves your whole life as well as your
trading. Good stuff!
  • #2,169
  • Oct 8, 2007 3:55pm Oct 8, 2007 3:55pm
I have been quite for sometime now just taking in and learning. I want to thank all here on this thread and of course linuxtroll. I just ordered the e-book and I am looking forward to reading it. I have been live trading over the past 2 months and I am earning the right to trade larger. Not perfect but getting better and better.
creating wealth one pip at a time.....
  • #2,170
  • Oct 8, 2007 4:56pm Oct 8, 2007 4:56pm
Is this a correct trade? Price spiked up though spine, trend was down, so I sold and got out with 3 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: rainbow.jpg Size: 407 KB
  • #2,171
  • Oct 8, 2007 7:02pm Oct 8, 2007 7:02pm
Quoting wannabeatrader
Is this a correct trade? Price spiked up though spine, trend was down, so I sold and got out with 3 pips.
Try to Enter Where I marked "Enter"
More pips and sooner.
I didn't put an Exit, but when the price stalls, Exit.
Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: rainbow.jpg Size: 137 KB
  • #2,172
  • Oct 8, 2007 7:39pm Oct 8, 2007 7:39pm
Thanks,
I need alot more screen time.!!!!
  • #2,173
  • Oct 8, 2007 8:42pm Oct 8, 2007 8:42pm
Quoting FXSurfer
This is having to do with me at my stage of development and not
Rainbow or anything else. It's like Douglas mentions when he talks
about a kind of screen or block that traders experience between
themselves and the reality of what's going on right in front of them
in the market. All mental/emotional blocks! How do I know? I'm an
expert at spotting patterns, entries and exits etc. when just watching.
But, when it's time to pull the trigger things get real foggy. The sad
part - I'm still on demo! The great part is that as this gets better
it's personal growth that improves your whole life as well as your
trading. Good stuff!
Get a small live account and take only high-probability trades with 0.1 lot... real money will give you some discipline... Jump in and out... It takes a few minutes to capture some pips... No mental blocks... When you are ready to go big, only adjustment you will make is to increase the lot size... LoL
Attached Image
  • #2,174
  • Oct 8, 2007 9:14pm Oct 8, 2007 9:14pm
Always high-probability...
Attached Image
  • #2,175
  • Oct 8, 2007 9:21pm Oct 8, 2007 9:21pm
It is thanksgiving day...
Attached Image
  • #2,176
  • Oct 8, 2007 9:27pm Oct 8, 2007 9:27pm
Hi LT, I have a question. I know this may sound stupid but I will go ahead anyway. Putting a traders personality aside
which of the two types do you feel is best suited for the rainbow, the conservative approach or the aggressive approach?
Logic would dictate the conservative approach but the more I look at it the more I am beginning to think that the aggressive approach may be better (less drawdown etc.).
  • #2,177
  • Oct 8, 2007 9:48pm Oct 8, 2007 9:48pm
Monarch has been showing me some things on the Rainbow, I am only using the 1Minute for now, will start some 5 Seconds soon.

This is the picture of the trades for today, even though the move went for 40 pips on each down move, I only stayed in between 5 and 20 pips with a scale out on the lots entered.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 Min EJ Scalp.jpg Size: 101 KB
TheCableGuy
  • #2,178
  • Oct 8, 2007 9:53pm Oct 8, 2007 9:53pm
Hi all,
I like this scalping strategy,but still wondering how to enter and exit,because from the rainbow,no signals to trade,
for me how to trade?

tks in advance
Ele
  • #2,179
  • Oct 8, 2007 10:42pm Oct 8, 2007 10:42pm
Quoting TheOne
Hi LT, I have a question. I know this may sound stupid but I will go ahead anyway. Putting a traders personality aside
which of the two types do you feel is best suited for the rainbow, the conservative approach or the aggressive approach?
Logic would dictate the conservative approach but the more I look at it the more I am beginning to think that the aggressive approach may be better (less drawdown etc.).
Both will do... Conservative approach does not mean that you stay in the market (same draw down as aggressive trader)... both styles - you jump in and out... Aggressive scalper will have enough experience to make more scalps (more trades, same draw downs)... conservative scalper will wait for the high probability setup and then jump in and out... after a couple of months experience both scalpers may ride the wave and capture more pips without any major risk, because they know Cyrox Rainbow inside out... Hope this helps...
  • #2,180
  • Oct 8, 2007 10:45pm Oct 8, 2007 10:45pm
Quoting TheCableGuy
Monarch has been showing me some things on the Rainbow, I am only using the 1Minute for now, will start some 5 Seconds soon.

This is the picture of the trades for today, even though the move went for 40 pips on each down move, I only stayed in between 5 and 20 pips with a scale out on the lots entered.
Way to go... You may like 30 sec... Easy transition from M1...
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