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  • #2,601
  • Oct 18, 2007 4:33am Oct 18, 2007 4:33am
It happened very quickly. Where have you/would you jump in?
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  • #2,602
  • Oct 18, 2007 4:37am Oct 18, 2007 4:37am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting atomz
It happened very quickly. Where have you/would you jump in?

Sure as hell NOT like this!!!
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  • #2,603
  • Oct 18, 2007 4:47am Oct 18, 2007 4:47am
Quoting atomz
It happened very quickly. Where have you/would you jump in?

Hello. Here you can see my opinion.

good luck.


http://img139.imageshack.us/img139/6...annthy0.th.jpg
  • #2,604
  • Oct 18, 2007 4:55am Oct 18, 2007 4:55am
Quoting atomz
It happened very quickly. Where have you/would you jump in?
on the retracement
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  • #2,605
  • Oct 18, 2007 5:08am Oct 18, 2007 5:08am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
I think I am gettin there on this Flame thingy...


Well, missed the nice one on the left...

But caught the one on the right for +5 pips...

No S/R levels in sight. Took it only on following the flame...


Thank you for your help thus far today hench and Canyouseeme. Very much appreciated!!


Magnus
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  • #2,606
  • Oct 18, 2007 5:08am Oct 18, 2007 5:08am
IMHO, when the price is moving so fast there is no reason to jump in because you dont know how much it will last. I'd wait for a ret. The bigger the first wave, better the chance to catch a good ret.
  • #2,607
  • Oct 18, 2007 5:11am Oct 18, 2007 5:11am
I would love your thoughts on a trade this morning.
I trade USDJPY and saw the price break 115.65 and retrace a bit.
I also liked how the spine broke the 115.70 h line so sold it.
When I saw the spike up, I almost closed, but held my ground.
when price stalled at 115.55 I exited position.

I know it went further, but wanted to get your thoughts on the trade as a whole and my thought process through it.

Thanks
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  • #2,608
  • Oct 18, 2007 5:18am Oct 18, 2007 5:18am
Quoting Yuppie
I think I am gettin there on this Flame thingy...
Magnus
Looking at your screen. How the chart should be zoomed? 5pips/5 minutes or 5pips/whatever minutes but to make a square not a rectangle? zooming in/out makes the rainbow/flame look differently.

bisar_x - I see what you mean. Thanks for your input.
  • #2,609
  • Oct 18, 2007 5:35am Oct 18, 2007 5:35am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting atomz
Looking at your screen. How the chart should be zoomed? 5pips/5 minutes or 5pips/whatever minutes but to make a square not a rectangle? zooming in/out makes the rainbow/flame look differently.

bisar_x - I see what you mean. Thanks for your input.

Thanks atomz.

I should have left it square for the thread. I zoomed in as the picture would have been too big for the thread...

I do know about the proportions of the square.

Your comment is really appreciated.

[I was going to go and change it, now that you have mentioned it, but I will leave it and maybe someone who does not know will see your comment about it ]


Thanks,

Magnus
  • #2,610
  • Oct 18, 2007 5:36am Oct 18, 2007 5:36am
ok, i finally talked my boss into giving me 2 hours every morning for practicing and started watching rainbow this week. i used oanda for charting and mbt for execution. the first 3 days were a total disaster. micro lots seemed like not an option for me, i treated it like a demo: tried to use every possible aggressive entry.

today was a little better. some questions:

is anyone trading live on oanda? if yes than how many lots? mbt/efx is much harder if you're using oanda for charting.

is there any charting software that can use mbt datafeed?

below are my todays trades. (eur/jpy est timezone) i know the mistakes but any comments are welcome. i finished up with a roughly 6 pips loss including commission
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"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,611
  • Oct 18, 2007 5:44am Oct 18, 2007 5:44am
Only noob opinion. At the first lose u didn wait for the spine to form. At the second, the price jumped too fast, and you entered too late. my 2 cents.
  • #2,612
  • Oct 18, 2007 6:04am Oct 18, 2007 6:04am
Quoting bisar_x
At the first lose u didn wait for the spine to form.
What do you mean by that? Spine is there. Do you mean new one to form?
  • #2,613
  • Oct 18, 2007 6:13am Oct 18, 2007 6:13am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyecelll
ok, i finally talked my boss into giving me 2 hours every morning for practicing and started watching rainbow this week. i used oanda for charting and mbt for execution. the first 3 days were a total disaster. micro lots seemed like not an option for me, i treated it like a demo: tried to use every possible aggressive entry.

today was a little better. some questions:

is anyone trading live on oanda? if yes than how many lots? mbt/efx is much harder if you're using oanda for charting.

is there any charting software that can use mbt datafeed?

below are my todays trades. (eur/jpy est timezone) i know the mistakes but any comments are welcome. i finished up with a roughly 6 pips loss including commission

Here is my newbie take on it...

Trade #1: The retrace after the big drop, well played
Trade #2: I am not 100% sure what you were aiming for here, perhaps a continuation? [See note on big moves below...]
Trade #3: Your exit was my entry. Check out my post here
Trade #4: Fairly late in entry. Would have wanted to get in just as price was dropping through H-line [AND V-line in this example]

Note on big moves...

I always notice that a big move will generally do some sort of retrace and then maybe a re-retrace or two. Usually after that there is a lot of chop. For example, today, it is nearly 2 hours since the drop, there was a couple of good Rainbow setups shortly thereafter (one of which you got) and price has been mincing around since then...


My take on it,

Magnus
  • #2,614
  • Oct 18, 2007 6:40am Oct 18, 2007 6:40am
Hi, I started Trading with Oanda and real money last week.

My size is 1 lot. And i´m trying to catch very much trades. And all my fail trades deleted all my small piped good trades. The reason, why my account is positive is, that my stop loss is 1.5 PIPS small. and if i catch one or two big moves , i ride it and finally got 20 pips plus the day.

Software: U can link the datafeed of MB with a program called NINJA Trader.

  • #2,615
  • Oct 18, 2007 6:57am Oct 18, 2007 6:57am
Quoting mazzhats
Hi, I started Trading with Oanda and real money last week.

My size is 1 lot. And i´m trying to catch very much trades. And all my fail trades deleted all my small piped good trades. The reason, why my account is positive is, that my stop loss is 1.5 PIPS small. and if i catch one or two big moves , i ride it and finally got 20 pips plus the day.

Software: U can link the datafeed of MB with a program called NINJA Trader.

thanks for the info, but i tried ninja and also have a blank white screen like one of the other guys here. i followed the instructions posted here but still failed to make it work.

and a big thank you to magnus who's posting all his thoughts here, it really helps me as i dont have much screen time
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,616
  • Oct 18, 2007 7:00am Oct 18, 2007 7:00am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyecelll
thanks for the info, but i tried ninja and also have a blank white screen like one of the other guys here. i followed the instructions posted here but still failed to make it work.

and a big thank you to magnus who's posting all his thoughts here, it really helps me as i dont have much screen time

No problem eyecelll.

Although, I have to say, your avatar does scare me a bit :...
  • #2,617
  • Oct 18, 2007 7:27am Oct 18, 2007 7:27am
Quoting eyecelll
ok, i finally talked my boss into giving me 2 hours every morning for practicing and started watching rainbow this week. i used oanda for charting and mbt for execution. the first 3 days were a total disaster. micro lots seemed like not an option for me, i treated it like a demo: tried to use every possible aggressive entry.

today was a little better. some questions:

is anyone trading live on oanda? if yes than how many lots? mbt/efx is much harder if you're using oanda for charting.

is there any charting software that can use mbt datafeed?

below are my todays trades. (eur/jpy est timezone) i know the mistakes but any comments are welcome. i finished up with a roughly 6 pips loss including commission

Eyecell,
I have not tried it but an E-signal product called QuoteTrader (Free) is supposed to have an MBT feed (www.esignal.com/quotetrader). Also heard about QuoteTracker (http://www.quotetracker.com/). Check out this page on the thrid party tools they list .. http://www.mbtrading.com/thirdpartyTs.asp


The best one i have seen so far is this one http://mbt.tradesecuring.com/misc/freembt.asp
but the free one appears to go to 1 minute only. It says the paid version gives tick data.

-Mark
EllisEdi Moving on to my next trade ...
  • #2,618
  • Oct 18, 2007 7:55am Oct 18, 2007 7:55am
I don't know how you guys can trade with stops useing this method. Seems hard to me . But every body is different in the way we see things . I allways say theres nothing like something that works
  • #2,619
  • Oct 18, 2007 8:11am Oct 18, 2007 8:11am
Can someone please try to explain why is the heavy relying upon H/V lines?
I just can't understand how to use it...
And what's all this "follow the flame" thingy... Can you please be specific?
Money for nothin' and pips for free!
  • #2,620
  • Oct 18, 2007 8:21am Oct 18, 2007 8:21am
Quoting atomz
What do you mean by that? Spine is there. Do you mean new one to form?
Sorry, i though it was a short one, now i see that was long, anyway, i usually dont take more than one trade per wave. Only if the rainbow squeeze and is a breakout in the same direction.
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