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Linuxtroll Simple Scalping

  • #2,381
  • Oct 15, 2007 4:25am Oct 15, 2007 4:25am
Quoting italianfx
"why should I enter in a low probability trade?" I should be like a Lion stalking his prey
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!
  • #2,382
  • Oct 15, 2007 4:31am Oct 15, 2007 4:31am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting italianfx
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

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
  • #2,383
  • Oct 15, 2007 4:32am Oct 15, 2007 4:32am
Thanks a lot WTB


Quoting WTB
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!
  • #2,384
  • Oct 15, 2007 4:36am Oct 15, 2007 4:36am
Quoting kharvell
London open was fun this morning
Happy to see my good old fib Rainbow again... Nice...
  • #2,385
  • Oct 15, 2007 4:41am Oct 15, 2007 4:41am
Quoting WTB
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!!!
It works in all time frames, but with different equity and risk profile...
  • #2,386
  • Oct 15, 2007 4:43am Oct 15, 2007 4:43am
Quoting Yuppie
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.
Oanda chart has Pivot points too... next to trendline tool...
  • #2,387
  • Oct 15, 2007 4:44am Oct 15, 2007 4:44am
Hi Yuppie !!!

triangle break is an aggressive entry so I just trade it when followed by spine and flame crossing H/V-Line, triangle break is just a pattern I'm observing recently but not trading it alone.

the trading zone is designated by support and resistance made by rainbow waves but most important because the spine were Flat and the Flame were breaking spine too often without taking any direction.

I'm just using 30 sec as higher time frame.

happy scalping!






Quoting Yuppie
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
  • #2,388
  • Oct 15, 2007 4:49am Oct 15, 2007 4:49am
Quoting JLivermore
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!!
It depends on your risk tolerance... actually, 2% is pretty typical in futures/forex speculation. Some people who are more aggressive like to use 3% max risk... and the highest recommended risk I've heard is 5%, as this is the point where the exponential curve takes off and it becomes much more difficult to make that money back than to lose it.

As for myself, I'm at around 4% for my stops, but I'm usually out of a losing trade well before that stop hits.
  • #2,389
  • Oct 15, 2007 4:49am Oct 15, 2007 4:49am
Quoting italianfx
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
Charge on... Make millions... Multi-millions...
  • #2,390
  • Oct 15, 2007 4:53am Oct 15, 2007 4:53am
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. ...........
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.
  • #2,391
  • Oct 15, 2007 5:01am Oct 15, 2007 5:01am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting WTB
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!
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
  • #2,392
  • Oct 15, 2007 5:39am Oct 15, 2007 5:39am
Quoting bluebuddha
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.
percent of my account size ..... ? oooooo mmm ...... Will do !
  • #2,393
  • Oct 15, 2007 5:40am Oct 15, 2007 5:40am
Great thread here !
This is my first attemp on Oanda demo account +16 pips for me

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 88 KB
  • #2,394
  • Oct 15, 2007 5:42am Oct 15, 2007 5:42am
Quoting Yuppie
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
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.......
  • #2,395
  • Oct 15, 2007 5:53am Oct 15, 2007 5:53am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting skyline
Great thread here !
This is my first attemp on Oanda demo account +16 pips for me



Nice one skyline!...

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


Magnus
  • #2,396
  • Oct 15, 2007 5:55am Oct 15, 2007 5:55am
Quoting Yuppie
Nice one skyline!...

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


Magnus
Great Yuppie !
  • #2,397
  • Oct 15, 2007 6:49am Oct 15, 2007 6:49am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Syafi
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.......

Syafi,

Waiting for a an A+ set-up is very different to what you have described...

You have described waiting for a set-up, and then holding off for confirmation that the set-up is valid. As you say, you wait and wait and wait, but by the time your confidence level is high enough on that particular set-up, alas, the move us already well underway - the train has left the station without you...

When price, as you say, is too far away you do not have a set-up anymore. Any set-up is only there for a limited time AND price. If the price has already moved you can still jump in, but it is no longer an A+ set-up!!...

Remember: OPPORTUNITYISNOWHERE

The execution of an A+ set-up however, will involve no hesitation on your part. You strongly believe that the set-up is high-probability. You have more confidence in the set-up resulting in a winning trade than a losing trade. From this, you know that as long as you take the high-probability trades that come along you will win in the long-run. You therefore do not hesitate in place the trade...

... when trading like a sniper, there is no hesitation...

... you see the set-up --> you pull the trigger...


Magnus
  • #2,398
  • Oct 15, 2007 6:55am Oct 15, 2007 6:55am
Quoting Yuppie
Syafi,

..........
... when trading like a sniper, there is no hesitation...
... you see the set-up --> you pull the trigger...
Magnus
okay.......
  • #2,399
  • Oct 15, 2007 8:15am Oct 15, 2007 8:15am
uao other 35 pips closed right now
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy1.jpg Size: 84 KB
  • #2,400
  • Oct 15, 2007 8:23am Oct 15, 2007 8:23am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting skyline
uao other 35 pips closed right now
Well done again skyline!!

Are you ready to hear what I got out of the same trade?...

Are you sure...

Well ok.... you asked for it...

A whopping +4 pips...


There's a phrase I could use right now but can't quite remember what it is...

Something to do with 'clucking bell'...


Magnus
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