Linuxtroll Simple Scalping

Quoting italianfx

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"why should I enter in a low probability trade?" I should be like a Lion stalking his prey

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Quoting italianfx

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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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Quoting WTB

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That very lesson will make you more money than all the Technical Analysis mambo jumbo in the world. I always make the analogy of "a trader is a sniper, not a battle-front soldier".

Well done Alessandro!

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Quoting kharvell

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London open was fun this morning

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Quoting WTB

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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!!!

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Quoting Yuppie

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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.

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Quoting Yuppie

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Excellent post Alessandro!!

I particularly liked your third trade on the first screenshot - a little bit of TA there ...


Now, on your second picture ["No trading Zone"], why did you designate this area as non-tradable?

Are you using a higher timeframe chart for trend guide?


Regards,

Magnus

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Quoting JLivermore

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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!!

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Quoting italianfx

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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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Quoting Syafi

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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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Quoting WTB

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That very lesson will make you more money than all the Technical Analysis mambo jumbo in the world. I always make the analogy of "a trader is a sniper, not a battle-front soldier".

Well done Alessandro!

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Quoting bluebuddha

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If you think of lot size as in $$$ value, it's only going to make you more nervous (especially when you get up to $100/$200 per pip). Instead, rework your thinking on lots in %%% value. The amount of %age you gain or lose per pip should remain fairly constant no matter how big or small your account size gets.

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Quoting Yuppie

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Why trade like a sniper?

#1 - You will select trade set-ups that have a higher probability of working out and discard others; your overall win/loss ratio will increase - this is very good psychologically

#2 - The ability to have patience to wait for the right set-up to develop will build on itself and your discipline in general. You will be less likely to cut your profit short (particularly if you believe it is a high-probability trade).

#3 - You will have more time to plan how you will play the trade once you are in it. The waiting is the easy bit.

#4 - There is less effort involved. You can conserve your energy so that when the right set-up does come along you are aware and focused.


Magnus

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Quoting skyline

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Great thread here !
This is my first attemp on Oanda demo account +16 pips for me

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Quoting Yuppie

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Nice one skyline!...

...I only got +13 out of the same trade :...


Magnus

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Quoting Syafi

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Wont that make you lose some of good trades because you were not sure ... hehe...I lose many good trades because i wait wait wait, then thought the price is already too far away then what I want to enter at.......

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Quoting Yuppie

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Syafi,

..........
... when trading like a sniper, there is no hesitation...
... you see the set-up --> you pull the trigger...
Magnus

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Quoting skyline

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uao other 35 pips closed right now

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