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Linuxtroll Simple Scalping

  • #2,361
  • Oct 14, 2007 10:43am Oct 14, 2007 10:43am
eat that gringos
i still can have my beauty sleep and trade the london and us sessions
by the way - stop being rebelious... win xp is ok... never tried vista (seems like a waste of time)
Money for nothin' and pips for free!
  • #2,362
  • Oct 14, 2007 11:59am Oct 14, 2007 11:59am
Quoting ltklev
eat that gringos
i still can have my beauty sleep and trade the london and us sessions
by the way - stop being rebelious... win xp is ok... never tried vista (seems like a waste of time)
you will eventually have to try vista if you decide to buy a new pc. it's no problem to format the hdd and install xp but are you going to do it every time microsoft releases its new os?
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,363
  • Oct 14, 2007 4:13pm Oct 14, 2007 4:13pm
I am ready for another wonderful week of trading. We are very blessed to have this style of trading. SCALP ALL DAY!!!!
  • #2,364
  • Oct 14, 2007 4:22pm Oct 14, 2007 4:22pm
Quoting eyecelll
you will eventually have to try vista if you decide to buy a new pc. it's no problem to format the hdd and install xp but are you going to do it every time microsoft releases its new os?
Here, in the Netherlands, the Consumer association has called to the suppliers to boycott Vista and provide XP instead.

Also, I live in the GMT+1 timezone, so it is possible for me to trade the Sydney session (first two / three hours, in the late-evening), London session (in the morning and afternoon) and New-york session (mid-afternoon and evening).

I usely don't trade during the Sydney session and just watch what's going one, because if I lose my trades in the first hours of that session, I cannot sleep...
  • #2,365
  • Oct 14, 2007 11:16pm Oct 14, 2007 11:16pm
this is my 1st post here in this thread, but i have been following since day 1. i have to say i have been scalping FX with nothing better than breaking even till i started trading the rainbow. but i have to ask you all what do you all use for risk parameters and max drawdowns? is 2%/day too much? i have been using 2% for the rainbow and i must say i have been doing good, but some say its too much at risk. just wanted to see what everyone else uses. with scalping i am aggressive so i feel 2% fits my style. but am i doomed? lol

but at my rate of scalping, i have been able to get 100% return every 8ish weeks. had just 3 days in the red from july.

does anyone use mIRC in here? we should start up a "rainbow room" chat! lol would b useful for everyone!!!

JL

special thnks to linuxtroll for starting up this thread, has helped me in life n trading!!
  • #2,366
  • Oct 15, 2007 12:54am Oct 15, 2007 12:54am
First Scalp of the day....... used small lot.....


................ I still have problem cutting loss when the lot is a bit larger, can you please give me anything to read or something to accept the outcome as it is and not as I hope Thanks. ...........
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  • #2,367
  • Oct 15, 2007 1:13am Oct 15, 2007 1:13am
another scalp.. good one
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  • #2,368
  • Oct 15, 2007 1:26am Oct 15, 2007 1:26am
Quoting Syafi
First Scalp of the day....... used small lot.....


................ I still have problem cutting loss when the lot is a bit larger, can you please give me anything to read or something to accept the outcome as it is and not as I hope Thanks. ...........
very late entry syafi.i myself suffered alot of loss when i enter late.why?because i afraid i will miss the good move.but after entry,price bounced into other way.arr......i hate myself being like that
  • #2,369
  • Oct 15, 2007 1:51am Oct 15, 2007 1:51am
yikes, short this @ .78 then saw GJ raise 10 pip so i get out @.79 only to see EJ fall 10 pip..... it was waiting for a break I know, but not sure which way so to be safe..
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  • #2,370
  • Oct 15, 2007 1:52am Oct 15, 2007 1:52am
Quoting amenlo9
very late entry syafi.i myself suffered alot of loss when i enter late.why?because i afraid i will miss the good move.but after entry,price bounced into other way.arr......i hate myself being like that
I was away, meeting other FF member want to ask about rainbow scalp......... I come home, see the 5sec rainbow, I see the 30 sec, it look still good so i enter.... love yourself so forex will love to give you cash
  • #2,371
  • Oct 15, 2007 1:58am Oct 15, 2007 1:58am
Quoting Syafi
I was away, meeting other FF member want to ask about rainbow scalp......... I come home, see the 5sec rainbow, I see the 30 sec, it look still good so i enter.... love yourself so forex will love to give you cash
yes,i will love myself more when i had winning trade.currently i am facing 3 problems:

1.no gut to entry at the beginning on spine
2.entry at the middle or near the end
3.cut loss!!
  • #2,372
  • Oct 15, 2007 2:08am Oct 15, 2007 2:08am
Enter too fast, before flame really break anything .. exit for 9 pip loss
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  • #2,373
  • Oct 15, 2007 2:20am Oct 15, 2007 2:20am
Greed, want to cover earlier loss so didnt take +6 instead exit for same price..
put exit limit 2 time but not filled when exit market it slip a bit because it raise fast...
..........

I think I am short bias ? all m trade is short..... .....
yes, it going up up & up... yet i dont enter any trade... ..
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  • #2,374
  • Oct 15, 2007 3:13am Oct 15, 2007 3:13am
London open was fun this morning
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  • #2,375
  • Oct 15, 2007 4:05am Oct 15, 2007 4:05am
Quoting amenlo9
yes,i will love myself more when i had winning trade.currently i am facing 3 problems:

1.no gut to entry at the beginning on spine
2.entry at the middle or near the end
3.cut loss!!
1- use micro, you wont feel that much in case its a wrong entry....
2- use micro, you wont feel tempted to enter yet even if you enter & its wrong, you wont lose much so it can be good learning process..
3- use micro ... you wont feel bad cutting them off.

3 good reason to trade micro...

.. because i have same problem when i trade mini.....
  • #2,376
  • Oct 15, 2007 4:27am Oct 15, 2007 4:27am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Somehow managed to get myself caught in the chop in the first 15 minutes after London open...

-6, -7, and -9...

Have detailed below how I played the 4th trade...

I seem to have a problem with entries just now... exits not too bad...

[Really starting to like these Pivots ]
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  • #2,377
  • Oct 15, 2007 4:35am Oct 15, 2007 4:35am
Quoting Yuppie
Somehow managed to get myself caught in the chop in the first 15 minutes after London open...

-6, -7, and -9...

Have detailed below how I played the 4th trade...

I seem to have a problem with entries just now... exits not too bad...

[Really starting to like these Pivots ]
how u add R and M line into the chat?draw manually?
  • #2,378
  • Oct 15, 2007 4:37am Oct 15, 2007 4:37am
The more I watch this LinuxTroll system the more it reminds me on my own trading strategy, just with different MAs setup and different time scope (I dont scalp), but basically it's also trading swings in the direction of the main trend as dictated by the MAs. That's why I am possitive that the LT system works if mastered.

Keep at it Troll-traders!!!
  • #2,379
  • Oct 15, 2007 4:57am Oct 15, 2007 4:57am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting amenlo9
how u add R and M line into the chat?draw manually?
I only put them on for uploading to the thread...

I have them all written down in a notepad and just keep the ones that price is nearest in my head...

Also keep note of previous days' high/low and any significant highs/lows [s/r] from NZ/OZ/JPY sessions...


Magnus

EDIT: Yes, used horizontal-trendline tool.
  • #2,380
  • Oct 15, 2007 5:54am Oct 15, 2007 5:54am
I see many traders entering low probability trades, I used to do the same because I wanted to be an aggressive scalper!
Aggressive scalping was a challenge for me, I thought... "I will be a good scalper only when I will be able to make aggressive trades" but the end result was too many trades, too much stress, too much commission to pay, now I realized that aggressive scalping is not for me, I was linking the words "aggressive scalper" to "to be a good scalper" , now I link it to "low probability trades" and think... "why should I enter in a low probability trade?" I should be like a Lion stalking his prey so now I keep my focus only on entering when Spine and Flame cross an H/V-Line , and my trading is going better.

After studied too much Technical analysis I get easy confused by all that technical stuff, while I should only focusing on spine direction and flame!
My new challenge is to be patient and trade just Rainbow high probability setup and let the power of compounding do it's job

Let's see if I can become profitable this way! I will let you know

Happy scalping to all Traders and a Big "Thank you" to Linuxtroll

Alessandro
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