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Linuxtroll Simple Scalping

  • #2,821
  • Edited 11:52am Oct 21, 2007 11:26am | Edited 11:52am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
This is VERY interesting...

Here is another entry setup and exit setup from later on the same day as the previous post...

First thing to note is that after the big drop earlier in the day, price stayed above the Pivot... In this setup the Pivot breaks down...

The second thing to note is very subtle...

Compare the pattern of the entry setup on my previous post... To the pattern of the entry setup on this post... They are almost identical (which I never noticed until I was uploading)...

Now, this is either [a most impressive] coincidence.... Or...

There are common patterns occurring here... Not just flames and spines...

If I see this a third time... Hell, I'm going to name the bugger... Any ideas? :...


Magnus
Attached Image
  • #2,822
  • Oct 21, 2007 2:56pm Oct 21, 2007 2:56pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
...gets the worm ...

Here are a couple of pre-London Session Open setups... Time is GMT...

I have noticed that this time of day can be a hit or a miss...

I posted a version of this chart, showing how I played the trades [marked on the chart by OandA], the other day... Ignore these marks on this chart... I am going over all my trades and seeing excellent [missed] opportunities...

I made a few pre-London Open trades last week... Every one was successful...

Anyone else traded this time?...


Please contribute to what I am posting... I would like to know how you would, or have, approached the same situations...

Magnus
Attached Image (click to enlarge)
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  • #2,823
  • Oct 21, 2007 4:27pm Oct 21, 2007 4:27pm
Magnus, what a beautiful charts you post here. I like that you look for high probability trades supported by multiple facts. High probability low frequency trades...

I think you can scalp anytime. Pre-London, during London, after London.. providing it moves and you get the nice HP setup.
  • #2,824
  • Oct 21, 2007 4:49pm Oct 21, 2007 4:49pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting atomz
Magnus, what a beautiful charts you post here. I like that you look for high probability trades supported by multiple facts. High probability low frequency trades...

I think you can scalp anytime. Pre-London, during London, after London.. providing it moves and you get the nice HP setup.

Thank you atomz...

I hope more people will be posting as well... I find it really helpful to be able to see, what other people are seeing...

Yeah, I try to look for confluence... For example... If I find a Pivot level that is almost a Round Number... This strengthens it as a [potential] S/R level for me...

As for scalping times... Like I said, Session pre-Opens can sometimes be good... and sometimes not... But what I have seen far, the same can also be said for times after Session Open as well... Definately more experience needed...


Thanks,

Magnus
  • #2,825
  • Oct 21, 2007 5:25pm Oct 21, 2007 5:25pm
Quoting Yuppie
...gets the worm ...

Here are a couple of pre-London Session Open setups... Time is GMT...

I have noticed that this time of day can be a hit or a miss...

I posted a version of this chart, showing how I played the trades [marked on the chart by OandA], the other day... Ignore these marks on this chart... I am going over all my trades and seeing excellent [missed] opportunities...

I made a few pre-London Open trades last week... Every one was successful...

Anyone else traded this time?...


Please contribute to what I am posting... I would like to know how you would, or have, approached the same situations...

Magnus
Hallo Magnus,

thanks for Your graphical thought processes. I was following this PRICE breaks FLAME story. I thought I should put a white borderline in the red sea of flames in my rainbows. I went to the sauna. I came back and found the white WM(6) in Your chart. I did it the same way. I already am watching it OANDA on EUR/USD. No scalps because spread is still a 10. But soon!.

Thanks again
Heinz
  • #2,826
  • Oct 21, 2007 5:28pm Oct 21, 2007 5:28pm
Nice gap to start market session here, with a big drop to a S2, picked up a Long at 162.72 (average entry on 2 lots) with the spine upwards.

Chart Attached

Note: 2nd Entry competed just now at 163.20
(I expect a close of gap up tp 163.77, but will let the remainder go after receiving the intitial move of this retrace)

Expecting the price to come back to test 162.00/02 area, also Resistance at 163.22/25 area, will watch for a confirmation of range setting from here.

No Entry for now.
Attached Image (click to enlarge)
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  • #2,827
  • Oct 21, 2007 5:33pm Oct 21, 2007 5:33pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting subsecond
Hallo Magnus,

thanks for Your graphical thought processes. I was following this PRICE breaks FLAME story. I thought I should put a white borderline in the red sea of flames in my rainbows. I went to the sauna. I came back and found the white WM(6) in Your chart. I did it the same way. I already am watching it OANDA on EUR/USD. No scalps because spread is still a 10. But soon!.

Thanks again
Heinz

Thanks Heinz. Great to hear that you are getting something from them...

BTW, I do not use White WMA(6) any more... That was an old chart... I use Red... I copied someone... but, hey, if it makes things easier... ...


Give us some of your thoughts Heinz,

Magnus
  • #2,828
  • Oct 21, 2007 5:39pm Oct 21, 2007 5:39pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting monarch
Nice gap to start market session here, with a big drop to a S2, picked up a Long at 162.72 (average entry on 2 lots) with the spine upwards.

Chart Attached

Note: 2nd Entry competed just now at 163.20
(I expect a close of gap up tp 163.77, but will let the remainder go after receiving the intitial move of this retrace)

Expecting the price to come back to test 162.00/02 area, then will watch for a confirmation of range setting from there.

No Entry for now.


I was going to ask if anyone here trades the gaps... No need...

Thank you for sharing your gap approach Ken...

Love the use of Pivots.. This is the first time I have watched the gap with the 5-sec Rainbow... Rather interesting... ...


Magnus
  • #2,829
  • Oct 21, 2007 5:43pm Oct 21, 2007 5:43pm
how do you guys setup the rainbow for oanda
  • #2,830
  • Oct 21, 2007 5:48pm Oct 21, 2007 5:48pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting jotty
how do you guys setup the rainbow for oanda

jotty,

Select...

Add Study... WMA... Enter your desired number (at bottom)... Click '+' Symbol...

Rinse and Repeat...

[Right click line to change colour]


Magnus
Attached Image
  • #2,831
  • Oct 21, 2007 5:53pm Oct 21, 2007 5:53pm
Quoting Yuppie
I was going to ask if anyone here trades the gaps... No need...

Thank you for sharing your gap approach Ken...

Love the use of Pivots.. This is the first time I have watched the gap with the 5-sec Rainbow... Rather interesting... ...


Magnus
For several years I have watched the Gap, but that was not my reason for entry as much as support 2 and a 1hour support area that was reached.

I exited a little quick on lot 1, but that was my initial profits, while lot 2 went for twice as much.

Price hit the 163.22/25 area for a resistance (which is the S1 on my Daily MT4), then dropped to the 1 minute support at 162.91 on MT4, I took a 1 lot entry Long there for 11 pips to trade 50% of the range for profits.

For now, I see range on Oanda at Low 162.92 and High at 163.25.

I am out of trades for now, but will enter upon breakout of these two lines, if the 5 second rainbow shows me the move.

Not a bad way to start this week. 3 for 3, with the Rainbow in the Lead. LOL

Ken
Attached Image (click to enlarge)
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  • #2,832
  • Oct 21, 2007 5:59pm Oct 21, 2007 5:59pm
Yuppie, let me thank you for your posts!

I have bought the ebook, read all of the thread and spent weeks losing with the Rainbow.

I was very disappointed that Linuxtroll refuses to give examples of what he sees in the rainbow. So I gave up on trying and keep an occasional eye on the thread.

Now I think I am ready to try again. Your posts (and those of others who have given trade examples instead of empty rainbows) should save readers from much frustration.

Bravo!
  • #2,833
  • Oct 21, 2007 6:05pm Oct 21, 2007 6:05pm
Quoting underthehedge
I was very disappointed that Linuxtroll refuses to give examples of what he sees in the rainbow. So I gave up on trying and keep an occasional eye on the thread.

Bravo!
You may want to look at the book again, there are ample examples of entry points, one must read with an open mind and let the creative imagination begin to show us the way.

Trade on Underthehedge.

Ken
  • #2,834
  • Edited 6:25pm Oct 21, 2007 6:09pm | Edited 6:25pm
Quoting Yuppie
I was going to ask if anyone here trades the gaps... No need...

Thank you for sharing your gap approach Ken...

Love the use of Pivots.. This is the first time I have watched the gap with the 5-sec Rainbow... Rather interesting... ...


Magnus
I used to trade gaps; You could trade the gaps at the beginning of the week (only), in CMX Global futures, just like today. The trend always seems to go back and therebefore it is profitable in my opinion.

I don't trade (any) gaps in a middle of a session, because the trend doesn't have to go back (for a longtime or never), so have I noticed.

You could trade gaps at the start of the week on currency (like today) but, you don't know when the trend reverses or the price extend of this "gap trend", so you must have enough equity and therebefore is dangerous (for short-term traders), also; the trend doesn't have to go back (for a longtime).

For short-term trader; I wouldn't recommend it.

We have the Cyrox rainbow and Linuxtroll's simple scalping, so we don't need gaps...

Visually, you cannot see the gaps on the Oanda chart or am I wrong on this?
  • #2,835
  • Oct 21, 2007 6:15pm Oct 21, 2007 6:15pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting underthehedge
Yuppie, let me thank you for your posts!

I have bought the ebook, read all of the thread and spent weeks losing with the Rainbow.

I was very disappointed that Linuxtroll refuses to give examples of what he sees in the rainbow. So I gave up on trying and keep an occasional eye on the thread.

Now I think I am ready to try again. Your posts (and those of others who have given trade examples instead of empty rainbows) should save readers from much frustration.

Bravo!

underthehedge [great username by btw ],

I post what works for me... By this, I assume it will work for others...

Maybe others will not like, or even understand(!), my entries/exits/etc... And likewise, I may have similar views towards others' thoughts...

But, this does not matter... All this, is to get our brains going in the right direction... And I understand how frustrating it can be... Not being able to get even the first foot on the learning ladder...

You've seen my first few posts... I was persistent in this thread until I finally started getting the information I wanted... [I saw that you had some similar experiences a while back..]...

We have had some really great stuff recently...

Just look at Monarch's gap information tonight... Funkin' awsome...


Just ask underthehedge,

Magnus
  • #2,836
  • Oct 21, 2007 6:18pm Oct 21, 2007 6:18pm
Price range found double support at 162.92, watching for double test of high at 163.25.

Not in a big hurry to get into a trade with a 35 pip range, but would like it to bounce up and down for a while to get the pressure up so we can see a big breakout.

Double High was just tested at 163.25 and stopped hard, now we surely have a nice range to watch...... I am liking this setup!!!

Breakout Prediction: Linuxtroll and the 5 Second Rainbow will reveal this to us in the Advanced Scalpers Book coming soon....... up or maybe down - time will tell - LOL


KEN

Update: Just seen a small break below low range, but did not like the form as per the setup I have seen on the Linuxtroll E-book, so therefore I have waited for a test of the Low at 162.66/70 area. No Trade Here.
  • #2,837
  • Oct 21, 2007 6:25pm Oct 21, 2007 6:25pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting FlashCall
I used to trade gaps; You could trade the gaps at the beginning of the week (only), in CMX Global futures, just like today. The trend always seems to go back and therebefore it is profitable in my opinion.

I don't trade (any) gaps in a middle of a session, because the trend doesn't have to go back (for a longtime or never), so have I noticed.

You could trade gaps at the start of the week on currency (like today) but, you don't know when the trend reverses, so you must have enough equity and therebefore is dangerous (for short-term traders), also; the trend doesn't have to go back (for a longtime).

For short-term trader; I wouldn't recommend it.

We have the rainbow, so we don't need gaps...

Visually, you cannot see the gaps on the Oanda chart or am I wrong on this?


FlashCall, the Sunday gaps were actually the only gaps I was referring to...

My disclaimer here is that I have not [yet] traded Sunday gaps...

However, I have gone over past data, and read plenty of material on FF from people who routinely trade them... They appear to be very high-probability...

I would have to say that the Rainbow seems like it would be an excellent tool for the job... Not personally traded it live yet... So please, only take this as my inexperienced opinion...


Magnus
  • #2,838
  • Oct 21, 2007 6:25pm Oct 21, 2007 6:25pm
Quoting underthehedge
Yuppie, let me thank you for your posts!

I have bought the ebook, read all of the thread and spent weeks losing with the Rainbow.

I was very disappointed that Linuxtroll refuses to give examples of what he sees in the rainbow. So I gave up on trying and keep an occasional eye on the thread.

Now I think I am ready to try again. Your posts (and those of others who have given trade examples instead of empty rainbows) should save readers from much frustration.

Bravo!
I do not think that you are ready and you may get more frustrated by following or copying someone... Ready to copy someone is not going to help you at all, that's why the e-book encourages you to find your own entries and exits according to your own risk profile... reread the ebook again... When the market condition changes, Yuppie will not be there to tell you the entries and exits... Yuppie is showing you how he is trading now... not the right way to trade Rainbow... Follow the e-book... do not copy someone... empty rainbows are there for you to show the setup patterns... If you followed the ebook - I asked you to plot your entry and exit on those empty Rainbow and get familiar with screen time - which will give you less frustration in the long run... Remember that... Learn to make your own entry/exit...
  • #2,839
  • Oct 21, 2007 6:31pm Oct 21, 2007 6:31pm
Quoting linuxtroll
I asked you to plot your entry and exit on those empty Rainbow and get familiar with screen time - which will give you less frustration in the long run... Remember that... Learn to make your own entry/exit...
That is the answer to becoming a successful trader, screen time, practice, and many mistakes along the way.

Learn all you can, then when you have learned everything you think you should know, then it's time to start learning.

Ken
  • #2,840
  • Oct 21, 2007 6:35pm Oct 21, 2007 6:35pm
Quoting Yuppie
FlashCall, the Sunday gaps were actually the only gaps I was referring to...

My disclaimer here is that I have not [yet] traded Sunday gaps...

However, I have gone over past data, and read plenty of material on FF from people who routinely trade them... They appear to be very high-probability...

I would have to say that the Rainbow seems like it would be an excellent tool for the job... Not personally traded it live yet... So please, only take this as my inexperienced opinion...


Magnus
Follow the Rainbow until you reach the maturity and experience of Monarch... Remember not to break the rules and recommendations given in the Linuxtroll Simple Scalping e-book first... Then with a lot of screen time, you can make your own rules according to your total equity and risk profile... Aim for the 6 pips per day... or trade... remember - try to spot low frequency high probability trades by using screen time... do not be afraid to take the entries and exits... you can always trade with very lowest lot until you get the 90-95 hit rate - then you can increase the lots (only change you need to make down the road)...
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