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Linuxtroll Simple Scalping

  • #2,861
  • Oct 21, 2007 10:18pm Oct 21, 2007 10:18pm
Got to love the charts. I advise all to save these charts and study them. You can learn a lot.

Thanks LT.

The start of another good week of trading.


DeeNY
  • #2,862
  • Oct 21, 2007 10:45pm Oct 21, 2007 10:45pm
Quoting DeeNY
Got to love the charts. I advise all to save these charts and study them. You can learn a lot.

Thanks LT.

The start of another good week of trading.


DeeNY
Yes... Another good scalp move again... Flame breaks h-line...
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  • #2,863
  • Oct 21, 2007 11:53pm Oct 21, 2007 11:53pm
Lost the thread for a bit, but now thankful to be caught up again...Great posts!!! Nez and Magnus, would love to get in on the Darwin talks, plz pm me as well. Monarch, thanks a ton for your insights. I'll post some charts for all to critique tomorrow--will trade the 6-10 slot--hope we're in for some great action! Oh, one more thing, Magnus, what's the TA you were talking about a few pages ago? Tks to all, pk
  • #2,864
  • Oct 22, 2007 12:50am Oct 22, 2007 12:50am
Quoting DeeNY
Got to love the charts.

Thanks LT.
Same here!
>>
>
X
XXX

Marked clearly enough for me!

Thank you LT!
  • #2,865
  • Oct 22, 2007 1:03am Oct 22, 2007 1:03am
Greetings all... this is my first post here (& FF for that matter)... so please be gentle...

Been REALLY enjoying this thread... so much so I bought the book...
But I am a slow reader (at "page" 75), making notes as I go along. This thread is like catching a moving train...

So first off thx to all for their contributions so far, esp. LT...

I had this idea that I wanted to run past the group & can't wait until I catch up (my apologies if someone's already suggested it)...

Would it be helpful for newbies & veterans alike to discuss setups & rainbow trades in real-time? Some of the timely pics here have been helpful, but it would be great if those more experienced could mentor those less so.

I came across an intresting chat program called PalTalk that could facilitate a real-time chat forom for rainbow traders, and we could meet say a various times per day, like during the open & close of various sessions.

I have seen others do it - there are several forex chat rooms on PalTalk at any given time, so I figured why not with the rainbow...

I am open to suggestion on this. Perhaps there is a better program for this than PalTalk? PalTalk is free, but perhaps there is something that would allow pics & whiteboarding, etc.?

I would be more than happy to help in whatever regard, to get the ball rolling...

cheers,
frank
  • #2,866
  • Oct 22, 2007 2:40am Oct 22, 2007 2:40am
Quoting phranq
Greetings all...
Welcome Frank!
The chat room idea sounds cool to me.


Also: Nice 1st post. I think that mine was "What's an EA?" LOL
(Now I couldn't care less)
  • #2,867
  • Edited 3:41am Oct 22, 2007 3:12am | Edited 3:41am
London opened with a move down to set the lower range on Oanda at 163.10 and a high range is 163.49 on the lower upper and 163.75 on an upper line for now.

I am seeing a tight consolidation on the 5 second, which is telling me to watch closely, we may see some breakout here soon.

I have a very broad 39 to 65 pip range for now on my chart, so entry is not going to be as quick if it jumps 10 pips, unless your an aggressive scalper.

I will remain patient and conservative while I watch for a break (with a specific setup for entry) of these range lines with confirmation on the 5 second Rainbow.


Update: There was a small breach below the low of 163.10 down to 162.97, was good for 6 pips, but not the exact setup as per Rainbow formations.

Will wait for further formations, new low 162.97/98
  • #2,868
  • Oct 22, 2007 5:32am Oct 22, 2007 5:32am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting DeeNY
Got to love the charts. I advise all to save these charts and study them. You can learn a lot.

Thanks LT.

The start of another good week of trading.


DeeNY

A lot of the charts that I post, especially this last weekend, have been with the aid of hindsight... Bear this in mind...

However, I have seen a lot of the same patterns/situations/setups cropping up... Which is always good...

I am a visual learner... Someone could tell me how to do something... It would have little impact... Someone could write down how to do something... It would have a bit more impact... But give me a picture or diagram or chart or graph... And that is how I learn... [this was, above all, the greatest thing I took away from uni... Was to learn how I learn...]...

LT has just posted comments on my chart... Thank you LT... ...

Have not had time too study it yet... I have had a brief 5 minute look at it though... A few things on there I will have to think about, and check back over my trades and analysis with...


Cheers,

Magnus
  • #2,869
  • Oct 22, 2007 5:34am Oct 22, 2007 5:34am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting pkchilly
Lost the thread for a bit, but now thankful to be caught up again...Great posts!!! Nez and Magnus, would love to get in on the Darwin talks, plz pm me as well. Monarch, thanks a ton for your insights. I'll post some charts for all to critique tomorrow--will trade the 6-10 slot--hope we're in for some great action! Oh, one more thing, Magnus, what's the TA you were talking about a few pages ago? Tks to all, pk


Will do pk...

I am not sure what you are referring to... Is it a particular post?...


Magnus
  • #2,870
  • Edited 6:39am Oct 22, 2007 6:12am | Edited 6:39am
So many good moves...
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  • #2,871
  • Edited 6:51am Oct 22, 2007 6:40am | Edited 6:51am
All within an hour... Do we need to trade more than 5 sec chart - sit in front of the computer and monitor trades... easy 10 pips move between each h-line... grab your daily pips and go play golf - enjoy the good things in life...
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  • #2,872
  • Oct 22, 2007 6:47am Oct 22, 2007 6:47am
Quoting FXSurfer
Welcome Frank!
The chat room idea sounds cool to me.
Do not spend too much time in chat rooms president... Focus on taking trades yourself... Jump in and out... More screen time... Practice... Chats and YouTube may be good for entertainment... Goal is to learn enter/exit and make money...
  • #2,873
  • Oct 22, 2007 6:55am Oct 22, 2007 6:55am
If you know what you are doing; grab more pips (ladder, SuperDOM, Buttontrader will help you execute and scalp with multiple strategy at the same time)...
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  • #2,874
  • Oct 22, 2007 7:03am Oct 22, 2007 7:03am
Not an average day. Today's range on EURJPY is 328 pips and US session is coming.
  • #2,875
  • Oct 22, 2007 7:07am Oct 22, 2007 7:07am
Quoting atomz
Not an average day. Today's range on EURJPY is 328 pips and US session is coming.
Average Monday... US session started already...
  • #2,876
  • Oct 22, 2007 7:08am Oct 22, 2007 7:08am
Big picture with Cyrox Rainbow...
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  • #2,877
  • Oct 22, 2007 7:27am Oct 22, 2007 7:27am
Quoting linuxtroll
Average Monday... US session started already...
"Little bit" above average
http://fxlabs.oanda.com/cgi/fxlabs.pl?id=21
http://www.mataf.net/en/forex/trading/volatility/forex/

Quoting linuxtroll
US session started already...
LOL On 5 sec. chart, few minutes of US session may look like ages.
  • #2,878
  • Oct 22, 2007 7:36am Oct 22, 2007 7:36am
Quoting linuxtroll
Do not spend too much time in chat rooms president... Focus on taking trades yourself... Jump in and out... More screen time... Practice... Chats and YouTube may be good for entertainment... Goal is to learn enter/exit and make money...
I agree, to an extent, LT... it's just that some of the recent advice given here would be ideal in a real-time forum, like a chat room. It could be an ideal way for newbies to get timely advice from the veterans. For example the opening of the NY session this morning, ie. encouraging people to wait for the spine to fully form before going in, etc. Admittedly this is only advice, and each person is responsible for their own trading.

Attached is my first eur/jpy rainbow trade (live but micro - i'm with you fxsurfer!)...

PS - i have to give credit to Yuppie... I emulated his chart, and added training wheels (WMA:240) and SMA:25 (mentioned earlier in this thread as a means to help with exits)
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  • #2,879
  • Edited 8:02am Oct 22, 2007 7:48am | Edited 8:02am
Quoting atomz
LOL On 5 sec. chart, few minutes of US session may look like ages.
LoL... Yes... That's why 5 sec... When you posted "session is coming" - I was already 3 min in the session - and making pips (see the screen capture I posted after 8 minutes) - more than 50 pips move up (take profit action)...

We are scalpers... Better make more money before our age increases... Ultimate trading... Scalping... :
  • #2,880
  • Oct 22, 2007 8:01am Oct 22, 2007 8:01am
Quoting phranq
I agree, to an extent, LT... it's just that some of the recent advice given here would be ideal in a real-time forum, like a chat room. It could be an ideal way for newbies to get timely advice from the veterans. For example the opening of the NY session this morning, ie. encouraging people to wait for the spine to fully form before going in, etc. Admittedly this is only advice, and each person is responsible for their own trading.

Attached is my first eur/jpy rainbow trade (live but micro - i'm with you fxsurfer!)...

PS - i have to give credit to Yuppie... I emulated his chart, and added training wheels (WMA:240) and SMA:25 (mentioned earlier in this thread as a means to help with exits)
Keep it Simple and Smart... Point is Newbies will develop a bad habit and comfort level - which is not good when they go and trade where big boys trade - I have seen this before - experienced scalpers have more tools to take all your money... Just take it as a recommendation and warning...

Just put a 30 sec Rainbow and 5 sec Rainbow on the screen and watch for a couple of weeks; if you like jump in and out and take real trades with lowest lot size possible... That will save you a lot of time and shorten the learning curve...
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