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Linuxtroll Simple Scalping

  • #2,261
  • Oct 11, 2007 6:19am Oct 11, 2007 6:19am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
If anyone is struggling with a lack of screens you may find it useful to have one or two windows semi-transparent.

I use a few screens, yet I still find myself yearning for more space. Only started trying this recently and so have not yet found out if it is more of a hinderance than helpful - pretty good so far though.

Screenshot below is 5-sec (stronger blue) with 30-sec (weaker blue). The 30-sec looks like it is in the background as it is less prominent - it is actually in the foreground with transparency set fairly high.


[There are loads of freeware transparency utilities and such out there - I picked Vitrite as it was tiny - only 85k]


Hope this might help some of you,

Magnus
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  • #2,262
  • Oct 11, 2007 6:36am Oct 11, 2007 6:36am
You can delete all but three of those Pretty Rainbow Averages and get the same result . It just doesn't look as pretty.

After reading all those previous post and if you still can't work out what this system is about and how to apply it, your just lazy.

Dont pay good money out for something that is so simple, you just make people very rich from your laziness to put in the work that they have done.

Cheers .........Somewhere over the rainbow
Enter Signature
  • #2,263
  • Oct 11, 2007 9:11am Oct 11, 2007 9:11am
Love the transparency Magnus--that's quite cool! I'll have to try it...pk
  • #2,264
  • Oct 11, 2007 9:19am Oct 11, 2007 9:19am
Getting the rhythm is what I find the hardest thing to do. Yeah, sure, the rainbow is a great tool to figure this out, but the market changes everyday! Yesterday was a horrible market (as far as my trades were concerned) for buying or selling above or below the previous highs/lows as the price was in a retrace mood--today has been much easier to trade these types of trades (Nathan's style). The problem is just getting a consensus of the reaction of the market before entering a trade as the market is an ever morphing monster which I'm enjoying taking bites out of With the more screen time, I'm seeing more time that I am in sync with the market--like that subliminal urging Livermore talks about...pk
  • #2,265
  • Oct 11, 2007 12:17pm Oct 11, 2007 12:17pm
http://img509.imageshack.us/img509/5460/xxxkp8.th.jpg

I was happy to see that the market started a trend sideways.

Hard work for 6.5 PIPS (7 Trades) but just managed. Yiiippiieee...

I was pleased with 0.5 PIPS per trade. Not much but worked.

Daytarget reached.

But if there would be one loss trade..... oh oh oh .

Spread 1.6 PIPS + 1 PIP Stop Loss = 2.6 PIPS

2 loosing trades and all the work is ..... ..

damn...
  • #2,266
  • Oct 11, 2007 1:33pm Oct 11, 2007 1:33pm
Check the first post. This is LT's thread to do as he sees fit.
Anyone who really has a problem with it should just start their
own thread.
Please just show some respect for those who are benefiting
from the info and experience here by cutting out the jabs and
heckling.
  • #2,267
  • Oct 11, 2007 2:43pm Oct 11, 2007 2:43pm
Can anyone post a diagram on how they traded today's major drop in EUR/JPY via the cyrox rainbow?

I got suckered into trying to catch the reversal up and would like to see how it's supposed to be done.

Thanks all.
  • #2,268
  • Oct 11, 2007 2:55pm Oct 11, 2007 2:55pm
Quoting shutopia
Can anyone post a diagram on how they traded today's major drop in EUR/JPY via the cyrox rainbow?

I got suckered into trying to catch the reversal up and would like to see how it's supposed to be done.

Thanks all.
It had to be a great trill for the people who has catch the drop!
  • #2,269
  • Oct 11, 2007 3:07pm Oct 11, 2007 3:07pm
I got to the party late, caught 4 trades, and left early. There were a lot more pips on the table if I would have stuck around but I was happy with what I collected and had other places to get to....
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  • #2,270
  • Oct 11, 2007 3:38pm Oct 11, 2007 3:38pm
So far this is working for me. I used to trade a standard 15m chart but used to miss a lot of good entry's. I now trade the 1m rainbow with 5m and 15m for reference. I tried the 5s but lost too many times and decided it was not for me. I started practising this method about 2 months ago and just took about every trade I saw and lost a lot of them but it takes a while to learn the character of how the waves form. For the last two weeks I've been more disciplined and only taken the trades I think are high probability. So far I've only had one losing day for -8 pips and make on average 10 pips a day. My biggest problem is closing a trade too early as I'll often take 2 pips and then a few seconds later I could of taken 10, but that's something I need to work on. I've been trading for about 3 years now, been through loads of systems but can say for sure that this is the best I have found and it has really helped to improve my trading. So thanks LT
  • #2,271
  • Oct 11, 2007 4:21pm Oct 11, 2007 4:21pm
I'm losing money on my demo account. There I said it and probably continue to until I can sort this method out in my head.


Edit: I'm very new to Forex and this method has been by far the most complete that I have yet to encounter. Even though the wording is very sketchy but I just have a gut feeling that this method is worth exploring.
  • #2,272
  • Oct 11, 2007 4:37pm Oct 11, 2007 4:37pm
My view on Forex.

I compare Forex as first league in soccer (or in another sport). You play against the smartest guys in the world. So dont be frustrated with that if you loosing at start.
Imagine you see foot baall the first time( rainbow for example) and your first match is going against AC Milano, or Manchester United. What are your probalities that you will success. Slim to none. At first you need handle the ball(rainbow). if you want to be proffesional like Ronaldino. you have to practice, a lot of practice. practice practice, everyday,hard work. Every day you will be better and better. I think backtesting and is like watching Soccer at TV- it doesnt make you good player. Only real play will make it. But we all have a really great edge. we can practice against the best players in the world from the begining.........
  • #2,273
  • Oct 11, 2007 6:43pm Oct 11, 2007 6:43pm
Quoting TypeSzH
I'm losing money on my demo account. There I said it and probably continue to until I can sort this method out in my head.


Edit: I'm very new to Forex and this method has been by far the most complete that I have yet to encounter. Even though the wording is very sketchy but I just have a gut feeling that this method is worth exploring.
I'm relatively new to markets (forex in particular) full stop and I'm pip positive using this scalping method. I first started looking at this about 6 weeks ago and when I compare performance, I know I'm a hell of a lot better off now - in fact one of the things that LT harps on about - discipline - was my weak point and really that's what I'm improving on... the mechanics have been flowing after that.

I opened an EFX demo and played around with the orders and managed to get the balance down to $9200 through just playing around (not scalping - you start with $10k on their demo) and I'm now back above $10k since I started scalping for real - been using lot sizes varying between 1 and 10 - mostly around 2-3 (1 lot = 10,000 on EFX) over the past two weeks.

The balance will be reset on the 15th afaik so I'll have a whole fresh month of just scalping through EFX.

$0.02AUD
  • #2,274
  • Oct 11, 2007 7:42pm Oct 11, 2007 7:42pm
Hi LT,

I have been trying the aggressive route but too many losses. I think I am choosing the worse times to trade.
When riding the wave must we pay particular attention to the previous wave. That is to trade it when previous wave showed substantial movement.
What has happened is that I enter when there is a new spine (yellow ema's) but it sometimes reverses and takes me out.
Hope my explanation is clear.
  • #2,275
  • Oct 11, 2007 7:44pm Oct 11, 2007 7:44pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Right, let's swing this ship around and point it in the direction of normality. I thought I would post something that I have found useful to try and get us started sailing in the right direction...

I was going to post it here but then I thought I would treat it as an excuse to start a journal type thing for LTSS.

In ¸¸,ø¤º°`° The Rainbow Room °`°º¤ø,¸¸ you will find something that I have just started doing to increase that all-too-needed screentime. I drone on about it in there, but that's only because I'm finding it pretty good so far. As LT stresses, study smarter, not harder. This is doing it for me...

I hope that if any of you were trading [aggressively] through todays sessions you caught some of the nice waves...


Take it easy,

Magnus
  • #2,276
  • Oct 11, 2007 7:58pm Oct 11, 2007 7:58pm
Quoting Yuppie
Right, let's swing this ship around and point it in the direction of normality. I thought I would post something that I have found useful to try and get us started sailing in the right direction...

I was going to post it here but then I thought I would treat it as an excuse to start a journal type thing for LTSS.

In ¸¸,ø¤º°`° The Rainbow Room °`°º¤ø,¸¸ you will find something that I have just started doing to increase that all-too-needed screentime. I drone on about it in there, but that's only because I'm finding it pretty good so far. As LT stresses, study smarter, not harder. This is doing it for me...

I hope that if any of you were trading [aggressively] through todays sessions you caught some of the nice waves...


Take it easy,

Magnus
Hi Magnus,
Great Idea. I have actually been doing this for nearly two years with various systems but I found it difficult to be consistent. I have only one pc which I use heavily so this poses a problem. I didn't post it as I thought no one would be interested. I capture at 1 to 2 frames per second.
Glad to see it being used. I am building a new pc so I should be able to get this right the next time around.
Is there a way to have this done automatically. I mean have the pc do the recordings every trading day of the week without human intervention. I currently use camtasia for recordings.
  • #2,277
  • Oct 11, 2007 7:59pm Oct 11, 2007 7:59pm
Quoting Yuppie
Right, let's swing this ship around and point it in the direction of normality. I thought I would post something that I have found useful to try and get us started sailing in the right direction...

I was going to post it here but then I thought I would treat it as an excuse to start a journal type thing for LTSS.

In ¸¸,ø¤º°`° The Rainbow Room °`°º¤ø,¸¸ you will find something that I have just started doing to increase that all-too-needed screentime. I drone on about it in there, but that's only because I'm finding it pretty good so far. As LT stresses, study smarter, not harder. This is doing it for me...

I hope that if any of you were trading [aggressively] through todays sessions you caught some of the nice waves...


Take it easy,

Magnus
I have tried this rainbow for three days now. Day one a loser, day two coverded the losses from day one and today a total loser - I didn't have a single winner today. I guess I will have to take it easy for a while to learn this. Too bad I don't have a whole lot of time to spend watching the screen.

Good luck to all.

oo7_ts
  • #2,278
  • Oct 11, 2007 8:07pm Oct 11, 2007 8:07pm
Quoting TheOne
Hi LT,

I have been trying the aggressive route but too many losses. I think I am choosing the worse times to trade.
When riding the wave must we pay particular attention to the previous wave. That is to trade it when previous wave showed substantial movement.
What has happened is that I enter when there is a new spine (yellow ema's) but it sometimes reverses and takes me out.
Hope my explanation is clear.
No... Attention must be on the Flame for aggressive scalper... Previous waves may help during the active market time... If you can not control the situation from 5 sec, just have a quick sneak peek at the 30 sec... Always scalp during the active market times...
  • #2,279
  • Oct 11, 2007 8:12pm Oct 11, 2007 8:12pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting TheOne
Hi Magnus,
Great Idea. I have actually been doing this for nearly two years with various systems but I found it difficult to be consistent. I have only one pc which I use heavily so this poses a problem. I didn't post it as I thought no one would be interested. I capture at 1 to 2 frames per second.
Glad to see it being used. I am building a new pc so I should be able to get this right the next time around.
Is there a way to have this done automatically. I mean have the pc do the recordings every trading day of the week without human intervention. I currently use camtasia for recordings.

Great minds think alike... :


I was doing 1 f/s for testing but found this to be too slow. Once there is some action, everything is blinking and flashing when it's a good move. Today's videos [doing them every **:45 to keep them in chunks - could easily crash/get corrupted/etc..] were 5 f/s with size about 1600/500. An hours worth is around 100Mb. I know I can get this down to less than 50 with some tweaking...

Yeah, automatic would be good. Although I did set it running through the night when testing and it was fine - just a damn big file!

Full automation would require a dedicated PC I reckon, otherwise could get messy - well I would do it that way anyway. Does take a bit of resources though... Camtasia for me too...


Magnus
  • #2,280
  • Oct 11, 2007 8:19pm Oct 11, 2007 8:19pm
Quoting Yuppie
Great minds think alike... :


I was doing 1 f/s for testing but found this to be too slow. Once there is some action, everything is blinking and flashing when it's a good move. Today's videos [doing them every **:45 to keep them in chunks - could easily crash/get corrupted/etc..] were 5 f/s with size about 1600/500. An hours worth is around 100Mb. I know I can get this down to less than 50 with some tweaking...

Yeah, automatic would be good. Although I did set it running through the night when testing and it was fine - just a damn big file!

Full automation would require a dedicated PC I reckon, otherwise could get messy - well I would do it that way anyway. Does take a bit of resources though... Camtasia for me too...


Magnus
Hi Magnus,
I think your frame size is too much. You could try 1280*1028.
Send me a PM.
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