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Linuxtroll Simple Scalping

  • #2,701
  • Oct 19, 2007 6:26am Oct 19, 2007 6:26am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Ok guys, here is how I played this...

Lots of room for improvement I think you will agree...

On another note, I believe I finally understand the flame...

And the difference between it, and the spine...

And how each are used...

Have been getting past some barriers this morning while E/J was sleeping... I will post later on how this transpired... Will hopefully benefit others that are possibly [dear god help them :] in the same position I was in...


Magnus
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  • #2,702
  • Oct 19, 2007 6:28am Oct 19, 2007 6:28am
Quoting monarch
Okay, nice move upwards, we all seen it coming, broke above those lines I had and I entered 10 Lots here.

Chart attached.
Hello Monarch,

Why do you use the rainbow in combination with your pivot analyses; You could do this with candlestick right? I'm missing something here, can you explain that to me, please?
  • #2,703
  • Oct 19, 2007 6:32am Oct 19, 2007 6:32am
Hi is there anybody with a link, where I can get the daily Pivot Points for some pairs?

THX
  • #2,704
  • Oct 19, 2007 6:38am Oct 19, 2007 6:38am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting mazzhats
Hi is there anybody with a link, where I can get the daily Pivot Points for some pairs?

THX
Try here...

You need to be careful from which time you take the end of the day from...

You also need to make sure you use the right formulae as well...

There is some good info on FF about this...

If you don't know about Pivots, I cannot stress enough that you spend a few hours learning about them before you apply them...


Magnus
  • #2,705
  • Oct 19, 2007 6:42am Oct 19, 2007 6:42am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Here are more plays on the way up...

One or two silly things I could have improved on... Like getting rid of the habit I have of making assumption like, price usually acts this way at a certain level, therefore it is going to act this way again... Nonsense... I am starting to finally grasp the mantra... trade what you see, not what you think...

Have given myself a small pat on the back for my exit on the +9 pip trade... Not because it was so pinpoint accurate... But because I used my recently aquired grasp of the flame [like I said, more on this later ]


I would really welcome any and all critique on my trades AND thoughts. This is how we learn...


Thanks guys,

Magnus
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  • #2,706
  • Oct 19, 2007 6:43am Oct 19, 2007 6:43am
Quoting Yuppie
Monarch, can you go into this a little bit more...

My take on it is that price has obviously tightened up...

Then there is a jaggedness to its movement...

Starts making bigger twitches...

Am I on the right track here?


Thanks,

Magnus
Let me start off by saying, "I am not trying to confuse the Simplicity of the Rainbow."

This is my 5 minute chart which corresponds perfectly on my 1minute and 5 second chart.

I have watched 5 minute candles for two years straight, and have incorporated the Rainbow 5 second and 1 minute within it's formation and movement characterstics.

I personally like the entry point of the 5 second, but, I do all my supp/res and points of reference on the 5 minute. I use to incorporate the 15/HR/4HR, but have eliminated those with the specific EMA/SMA/LWMA lines I use.

I have only one other indicator on my charts, but I have basically quit using it now I keep the average movements of the EJ instead.

I can tell the trend on my 1minute basically, the 5 second rainbow is the key for entry, it has over and over performed as per Linuxtroll's setups as seen in the E-Book.

With over 45 days of screen time on the 5 second, I am now making lots of progress towards a 90/95% win ratio.

This week, I have had 5 losses that have totalled 20 pips in total, hopefully employing the 5 second can lower this average of loss, eventually, my goal is to win 95% trades with an average of 2-3 pips loss (not including commissions).

I have read Linuxtroll's e-book several times, and have read every bit of this thread.

Thanks to all those who continually post and add much beneficial information.

Ken
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  • #2,707
  • Oct 19, 2007 6:49am Oct 19, 2007 6:49am
Quoting FlashCall
Hello Monarch,

Why do you use the rainbow in combination with your pivot analyses; You could do this with candlestick right? I'm missing something here, can you explain that to me, please?

Actually, I do not use the Pivot analysis very often, but if you have seen the EJ take a 70 pip or what we seen here today, 130 pips, then I begin to look across the supp/res levels, and the pivot is usually the target once the move begins.

I am a candle guy, and before adding the Rainbow to my trading concept, I traded the 5 minute candle basically by formation only, with a few EMA's.

I am trying to fade away from the 5 minute and go directly to the 1min for trend and the 5 second rainbow for all trades, but it takes time to release the habit of watching the 5 min and the many things I have grown to use.

I am hoping by the end of November to be only scalping the 5 second rainbow, I am anxiously awaiting the "Advanced Scalper Book" from Linuxtroll, this should explain much more from the master himself.

Attached is the 1minute rainbow, I posted this with the range prior to the breakout, you can see the breakout clearly after the move, but with the 5 Second Linuxtroll Rainbow, you could have seen the price press the upward range, and eventually break above - screen time over and over will help to advance our entries.
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  • #2,708
  • Oct 19, 2007 7:10am Oct 19, 2007 7:10am
...
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  • #2,709
  • Oct 19, 2007 7:11am Oct 19, 2007 7:11am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Excellent Ken. Thank you.

I also was watching the Pivots. I never went into as much detail as you, but I was along the same lines...

I like how your are making our way from 1m/5m charts to the Rainbow method... Your thoughts on how you will approach the change are very interesting...

It has been interesting to see your take on things. I look forward to anything you can bring to the Rainbow from your 5m/1m experience...

What is your usual approach? Aggressive? Conservative?

Not many people have mentioned scaling out. How do you find this? Is it mainly for psychological reason, a smoother equity curve, or does it prove more profitable?


Thanks again,

Magnus
  • #2,710
  • Oct 19, 2007 7:23am Oct 19, 2007 7:23am
Quoting Yuppie
In hindsight, my mistake is clear... Really nothing to do with the entry - it is the bigger picture that I disregarded... E/J is obviously feeling a bit lethargic to... and I knew that... but I still have these presumptions about what the market should do...
Magnus, I have turned your screen (with loosing entry) upside down (to see it as a long entry) and compared it with Amenlo9 winning entry. Not much difference in a 5sec world. Except there is some more knocking on the resistance just before Amenlo9 took the trade. Maybe Magnus entry was not that "clear mistake"... You just get out with small loss and try it another time. Any comments welcome.
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  • #2,711
  • Oct 19, 2007 7:31am Oct 19, 2007 7:31am
Quoting monarch
Actually, I do not use the Pivot analysis very often, but if you have seen the EJ take a 70 pip or what we seen here today, 130 pips, then I begin to look across the supp/res levels, and the pivot is usually the target once the move begins.

I am a candle guy, and before adding the Rainbow to my trading concept, I traded the 5 minute candle basically by formation only, with a few EMA's.

I am trying to fade away from the 5 minute and go directly to the 1min for trend and the 5 second rainbow for all trades, but it takes time to release the habit of watching the 5 min and the many things I have grown to use.

I am hoping by the end of November to be only scalping the 5 second rainbow, I am anxiously awaiting the "Advanced Scalper Book" from Linuxtroll, this should explain much more from the master himself.

Attached is the 1minute rainbow, I posted this with the range prior to the breakout, you can see the breakout clearly after the move, but with the 5 Second Linuxtroll Rainbow, you could have seen the price press the upward range, and eventually break above - screen time over and over will help to advance our entries.
Good stuff Monarch. I've also been looking/changing things down just more bowel issues and more toilet paper with the lower TF's.

Cheers,

kt
  • #2,712
  • Oct 19, 2007 7:49am Oct 19, 2007 7:49am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting ktrade
just more bowel issues and more toilet paper with the lower TF's.
Thanks for the analogy kt...

Put me off my lunch now...
  • #2,713
  • Oct 19, 2007 7:55am Oct 19, 2007 7:55am
Quoting atomz
Magnus, I have turned your screen (with loosing entry) upside down (to see it as a long entry) and compared it with Amenlo9 winning entry. Not much difference in a 5sec world. Except there is some more knocking on the resistance just before Amenlo9 took the trade. Maybe Magnus entry was not that "clear mistake"... You just get out with small loss and try it another time. Any comments welcome.

you made a good point here. I hate to trade break-out just because I see so many False break-out, but on another hand there also many True break-out like the last one. we can never know if a break-out will be good or not, so we must choose to trade them always or never.
Many people post only good break-out, but I can also post Many false break-out!
Personally I still don't know if I should jump in when the price spikes breaking a supp/resist. , I'm afraid of a false move but I also miss a lot of good opportunity. Usually I wait for a retracement but in the last few days the E-J seems to fly

the point I want to make is this: or we trade every break-out or not, there is no reason to trade one break-out and not another if we don't know which one will be good!

I hope you understand what I mean!
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  • #2,714
  • Oct 19, 2007 8:12am Oct 19, 2007 8:12am
Quoting italianfx
Many people post only good break-out, but I can also post Many false break-out!
It would sound stupid. "I trade only 30 minutes a day. I lost 10 pips, now I go golfing or whatever. Follow the flame!"
  • #2,715
  • Oct 19, 2007 8:14am Oct 19, 2007 8:14am
Quoting atomz
It would sound stupid. "I trade only 30 minutes a day. I lost 10 pips, now I go golfing or whatever. Follow the flame!"
LOL!
  • #2,716
  • Oct 19, 2007 8:21am Oct 19, 2007 8:21am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
I gave this post that title because the flame threw me :...

Seriously though, I believe I finally understand the flame. The spine I have grasped in the last couple of days thanks to everyone here ...

I have attached LT's modification of eyecelll's chart from yesterday...

This is what allowed me to understand the flame. I studied it for a while and finally realised what I am meant to be watching for in the flame... While I am pleased at this... I am also dis-pleased... Bear with me here... I have spent two weeks solid studying the Rainbow and I only now know what to look for in the flame... While it is certainly not wasted weeks, they certainly could have been more productive!!...

Now, maybe it is just me that had this problem with this, maybe not. I'll take the stance that others may have problems too... What I want to get at is that although we heard the usual "screen time", "follow the flame", etc.. from various individuals throughout the thread... I always found it lacking in substance. I appreciate the requirement of screen time [currently doing 06:00 GMT to 00:00 GMT every day ]... but as you are now aware, I (and so possibly others) really struggled to grasp the flame, and spine to a lesser degree...

I personally learn from examples... So it was not until this morning when I saw LT's modified eyecelll chart that I finally unsderstood how to watch the flame...

I immediately assumed I had missed something throughout the whole thread on this. So I went through the whole thread again and basically came up with very few examples like the one LT gave...

Here they are for your perusal:

nhallmark - on a 1-min chart

nhallmark - on a 5-sec chart

C.E.O. - on a 1-min chart

C.E.O. - on a 1-min chart with candles

linuxtroll - on a 10-tick chart


Now, these are not extensive examples on what I believe to be the way to interperet the flame... The one LT gave this morning was by far the best... Ok, there is some help from hindsight in some of the exits, but nevertheless, a great example of how to interperate the flame...

The main point of this post was to highlight the fact that I personally found core pieces missing in the way the Rainbow was presented. I am not knocking this fantastic thread - far from it!!! - I am trying to improve it both for others and myself. I really do appreciate the way in which LT has brought us the method; espousing screentime and simplicity... I however, take a little bit more than that to learn something...

Ok, maybe I am the first person to find themselves with an inability to grasp implementation of the [admittedly simple] concepts of the Rainbow (other people certainly seemed to be making pips)...

I find examples more helpful that almost anything else. I am sure other people do as well. Alessandro's charts from Wednesday were excellent, and a number of people commented on them (I can now see that he has done the same again today, will check them in a few minutes Alessandro ). Do you guys find examples helpful?

I am going to post a chart or two to try and make sure I am attempting this right... I hope you will critique them for me...


Thanks for listening,

Magnus
Attached Image
  • #2,717
  • Oct 19, 2007 8:22am Oct 19, 2007 8:22am
hey mr troll,
could you please post the screenshot of your workspace or explain what you're looking at while trading? oanda feed definitely lags so i guess you need to watch the price on your ecn broker either on level ll or dome (or ladder, not sure what this thing is called). do you watch current bid and ask orders and does it help?
thank you
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,718
  • Oct 19, 2007 8:26am Oct 19, 2007 8:26am
That was made by my friend Michal from kreslik.com

Very usefull informations.

I think you might be interested in the average spread statistics in pips that I've done yesterday. It's calculated from the millisecond-precision tick data that I've been collecting from EFX & Interactive Brokers from mid August:

http://kreslik.com/forums/userpix/2_..._Spreads_1.png

The source data only contains new quotes. In this methodology, a quote consists of both the Bid and Ask values. A new quote is created when either the Bid or Ask or both differ from their respective values in the previous quote.

The resulting table also contains information on how many quotes for the FX pairs in question were available for the calculation. The quote stream is not always continuous, i.e. if there is some internet connection or other failure, the quotes are missing in the source data. But, provided the spread values are distributed normally, this should not skew the results in an essential way.

EFX offers more FX pairs than IB, so there are only the resulting values for EFX for some pairs.

The value of the average spread is critical for trading systems that generate high frequency trades. Obviously, the average spread is not the only broker-dependent market access parameter that affects high frequency trading system's tradability. Among the key factors are:

  1. average spread
  2. executability, both price-wise and size-wise
  3. commissions

  • #2,719
  • Oct 19, 2007 8:31am Oct 19, 2007 8:31am
Quoting Yuppie
I gave this post that title because the flame threw me :...

Seriously though, I believe I finally understand the flame. The spine I have grasped in the last couple of days thanks to everyone here ...

I have attached LT's modification of eyecelll's chart from yesterday...

This is what allowed me to understand the flame. I studied it for a while and finally realised what I am meant to be watching for in the flame... While I am pleased at this... I am also dis-pleased... Bear with me here... I have spent two weeks solid studying the Rainbow and I only now know what to look for in the flame... While it is certainly not wasted weeks, they certainly could have been more productive!!...

Now, maybe it is just me that had this problem with this, maybe not. I'll take the stance that others may have problems too... What I want to get at is that although we heard the usual "screen time", "follow the flame", etc.. from various individuals throughout the thread... I always found it lacking in substance. I appreciate the requirement of screen time [currently doing 06:00 GMT to 00:00 GMT every day ]... but as you are now aware, I (and so possibly others) really struggled to grasp the flame, and spine to a lesser degree...

I personally learn from examples... So it was not until this morning when I saw LT's modified eyecelll chart that I finally unsderstood how to watch the flame...

I immediately assumed I had missed something throughout the whole thread on this. So I went through the whole thread again and basically came up with very few examples like the one LT gave...

Here they are for your perusal:

nhallmark - on a 1-min chart

nhallmark - on a 5-sec chart

C.E.O. - on a 1-min chart

C.E.O. - on a 1-min chart with candles

linuxtroll - on a 10-tick chart


Now, these are not extensive examples on what I believe to be the way to interperet the flame... The one LT gave this morning was by far the best... Ok, there is some help from hindsight in some of the exits, but nevertheless, a great example of how to interperate the flame...

The main point of this post was to highlight the fact that I personally found core pieces missing in the way the Rainbow was presented. I am not knocking this fantastic thread - far from it!!! - I am trying to improve it both for others and myself. I really do appreciate the way in which LT has brought us the method; espousing screentime and simplicity... I however, take a little bit more than that to learn something...

Ok, maybe I am the first person to find themselves with an inability to grasp implementation of the [admittedly simple] concepts of the Rainbow (other people certainly seemed to be making pips)...

I find examples more helpful that almost anything else. I am sure other people do as well. Alessandro's charts from Wednesday were excellent, and a number of people commented on them (I can now see that he has done the same again today, will check them in a few minutes Alessandro ). Do you guys find examples helpful?

I am going to post a chart or two to try and make sure I am attempting this right... I hope you will critique them for me...


Thanks for listening,

Magnus
hey magnus,
i think this is worth trying for you: forget about everything you've read on this thread. watch the rainbow for a day or two without comparing to what you've already learned from other people here. and dont visit the thread during this time
the worst possible thing is you lose 2 days of your education, but i have a feeling this should help.
and yeah, it will be very tempting to come visit the post, lol
it's not that i'm trying to stop you from posting here,
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #2,720
  • Oct 19, 2007 8:41am Oct 19, 2007 8:41am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyecelll
hey magnus,
i think this is worth trying for you: forget about everything you've read on this thread. watch the rainbow for a day or two without comparing to what you've already learned from other people here. and dont visit the thread during this time
the worst possible thing is you lose 2 days of your education, but i have a feeling this should help.
and yeah, it will be very tempting to come visit the post, lol
it's not that i'm trying to stop you from posting here,
I have learned a great deal from this thread in the last 3 days. Everyone has been extremely helpful, both to me, and each other...

Concidentaly I have just had my two most successful days yet - not number of pips, but quality of entry and exit, and few losses...

Looking at the posts of the last couple of days, I get the impression other people have benefitted more recently as well...

Thank you for your suggestion eyecelll, but to be honest, it's not really what would help further my progress at this point.


Magnus
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