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Attachments: Linuxtroll Simple Scalping
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Linuxtroll Simple Scalping

Quoting Yuppie
Observe the time and the price of when the trade was taken...

Time was 2 and 1/2 hours after London Open... E/J had slowed...

Price had already minced around significant ***.50 level for an hour after Session open...

And like others have said... No Spine...

[Easy for me to say after the fact I know, but I have been watching solidly since before Session open today... Saw this... Never even considered it...]


Magnus
That's why h-lines... Always look whether the spine is spending too much time (v-line) between two h-lines... Sure sign of flat spine... Even if we take aggressive scalp entry there - we must exit as soon as it turns against us (Flame) - we can always capture another big move down the road...
Quoting Bruno
After 4 months of watching Rainbow I would like to share some statistical informations:

***************M1 M2 M3 M4 *LTW
Average trades/day 35 48 27 15 7
Largest loss in pips 79 96 29 21 18
Average success rate 66 58 68 75 82**
Screen time/day 6 10 10 10 10
Trading time/day 6 4 6 3 2

*LTW(LAST TWO WEEKS)
**last week over 90% success rate

Linux all you said is very true and now I understand your teaching method. I like very much your comments to all points we discuss, not only Rainbow.
Many thanks again
That's great progress. Do you trade from 5 sec. chart or 10-tick chart?
I remember what made me to take that trade. I saw something in one of LT's posts, and for me was very similar. Anyway, entered too late.
Attached Image
Quoting bisar_x
I remember what made me to take that trade. I saw something in one of LT's posts, and for me was very similar. Anyway, entered too late.
If I was one of those (after the fact) analysts invited to CNBC or Bloomberg TV I would say that the difference is:

- LT marked entry is on 10 pip grid chart so it is not that random spike
- LT entry happened during Sunday/Monday night, few seconds after midnight 0:00 (Central European Time) which is time of gaps, many brokers open their platforms that time...

But thanks for posting the entry. Bruno, EllisEdi and others 90% traders, please, post your trades too.
http://img513.imageshack.us/img513/4...rheryr3.th.jpg
Shit... all looks fine for a brake of the S1 / daily. EUR/JPY.

- higher and higher lows

But the trade turns around and moved down . The resistance is strong.
I switched, too. And went short at ---163,836---. 20 PIPS for now.


http://img204.imageshack.us/img204/2...nachlt8.th.jpg
Quoting atomz
That's great progress. Do you trade from 5 sec. chart or 10-tick chart?
There is very big difference to watch long term tick and time based charts for me. I use only EFX feed + Ninja charting set up for 35ticks and 5seconds, I have also Tradestation(market maker), but there 5ticks is absolutely something else then 5ticks with EFX so it almost does not matter - always grab some pips and out.

I was many times frustrated - (do you remember Alessandro?) and I will be for sure in the future, but the main reason for that is lack of confidence, discipline and very poor risk management. After few losses I always extend my trading position - trying to get my money back, and that was very BAD idea. If you will risk very low amount, also the loosers brings less stress and frustration. Then the success rate will be higher, less emotions and "clear head" decissions will make it easier.

I remember my feeling about psychology books(Mark Douglas, Brett Steenbarger)two years ago - only laughing and prefering books about TA(Technical Analysis of the Financial Markets) or different systems(Mastering ther Trade). Now it has changed.

I have still very poor days, but I try every morning before I take first trade to ask myself if I am ready to follow all my rules, or just hurry to take gambling trades - keeping this informations help me to see if there is some progres. Sometimes I ask myself so many questions - is there somebody, who makes on consistent base money? Are all this systems and indicators only funny tools from market makers? Is it really possible to live from FOREX? SO many questions...Yes, it is for sure possible. Just do not give up.

I think we are in the right threat.
Have a great trades
Bruno
http://img148.imageshack.us/img148/4...ach2ib0.th.jpg

I think its interesting to see my opinion on this trade.


The price goes around the xxxx.50 Are round number, with no clear direction. This is my reason, for the exit of the previous trade.

If the wave will brake, i will take a long positions. Maybe the S1 Resistance will brake now. The flame will show you the power and trend.

good look.


edit:
http://img530.imageshack.us/img530/3...ach3ag4.th.jpg

I got the conservative entry. and now ride it. ;-)
Quoting Bruno
There is very big difference to watch long term tick and time based charts for me. I use only EFX feed + Ninja charting set up for 35ticks and 5seconds, I have also Tradestation(market maker), but there 5ticks is absolutely something else then 5ticks with EFX so it almost does not matter - always grab some pips and out.

I was many times frustrated - (do you remember Alessandro?) and I will be for sure in the future, but the main reason for that is lack of confidence, discipline and very poor risk management. After few losses I always extend my trading position - trying to get my money back, and that was very BAD idea. If you will risk very low amount, also the loosers brings less stress and frustration. Then the success rate will be higher, less emotions and "clear head" decissions will make it easier.

I remember my feeling about psychology books(Mark Douglas, Brett Steenbarger)two years ago - only laughing and prefering books about TA(Technical Analysis of the Financial Markets) or different systems(Mastering ther Trade). Now it has changed.

I have still very poor days, but I try every morning before I take first trade to ask myself if I am ready to follow all my rules, or just hurry to take gambling trades - keeping this informations help me to see if there is some progres. Sometimes I ask myself so many questions - is there somebody, who makes on consistent base money? Are all this systems and indicators only funny tools from market makers? Is it really possible to live from FOREX? SO many questions...Yes, it is for sure possible. Just do not give up.

I think we are in the right threat.
Have a great trades
Bruno

Good to know you are improving, we are in a learning fase and we cannot escape this learning process, we learn from our mistakes. I think we must focus on learning to trade following the mantra and not focus on making money fast. I was focusing on making money and the result was loosing , now I focus on recognize pattern and trade them , and is going better, anyway we need A LOT of QUALITY screen time and practice , practice... and not let the frustation overcome our desire to lean to scalp the rainbow waves

Attached Image (click to enlarge)
Click to Enlarge Name: 35ticks.png Size: 387 KB
Wow, I've been unable to check Forex Factory since Thursday or so. Just been extremely busy. I just finished catching up on about 20 pages of the thread, haha. Great posts everyone!
I came, I saw, I conquered [your pips]. -- Julius Caesar
Quoting linuxtroll
Just another day... You will have pips everyday...
Linux,what is your wma value in this chart?post 2930.

it's look clean and simple
Quoting Bruno
Attachment 59898
If it works for you, just take it. Or add wma´s from 10 to 250 and ride the rainbow with more wma´s and enter when the price brakes your upper or lower wma. (WMA 250). That will be a conservative entry. I think there will be a problem with small swings, if you do not aim for 1 pip target, but if you have one big move, your exit signal will not kick u out very fast and you will have the ability to ride it longer with more winning pips.

Try it and note your profit Loss. Add WMAs from 1 to 250.

Find your way to ride the rainbow.
Hello,

Today I have open the system only in the last Tokyo hour and first London Hour.
I have promised my self that I will trade smartly and only after the break of S/R in high prob setups.
Result :80% success rate.

It is all matter of discipline to follow the rules.
Way to go bruno,bravo for your results of 90% success rate.

Thank you

Basil
Learn something difficult and earn real money for ever, a lot.
Quoting bisar_x
I remember what made me to take that trade. I saw something in one of LT's posts, and for me was very similar. Anyway, entered too late.
these two screenshots may look similar but the character of the price movement is very different. on lt's screenshot the price is preparing to go down, testing the support level. in your case the price is simply fluctuating. i know it's hard to explain but you have too feel the price, not just compare it to different patterns in your mind. i remember what j livermore said about the price: it always moves in the direction of least resistance. if you can see where there's less resistance at any moment you win. thanks for your post bisar_x, very educational
"Nothing is unexplainable, Everything is mystery" W. Liquorman
Quoting Bruno
Attachment 59898
bruno, do i understand you right? you trade from 35tick chart only? because i found that 5sec is usually represented by 6-12 tick chart depending on market activity. 30sec is similar to 60tick during active trading hours
"Nothing is unexplainable, Everything is mystery" W. Liquorman
Easy +10
Attached Image (click to enlarge)
Click to Enlarge Name: esay +10.png Size: 22 KB
creating wealth one pip at a time.....
Quoting wheelsut
Easy +10
nice exit
"Nothing is unexplainable, Everything is mystery" W. Liquorman
Quoting bisar_x
I remember what made me to take that trade. I saw something in one of LT's posts, and for me was very similar. Anyway, entered too late.
...
Attached Image
Quoting Bruno
There is very big difference to watch long term tick and time based charts for me. I use only EFX feed + Ninja charting set up for 35ticks and 5seconds, I have also Tradestation(market maker), but there 5ticks is absolutely something else then 5ticks with EFX so it almost does not matter - always grab some pips and out.

I was many times frustrated - (do you remember Alessandro?) and I will be for sure in the future, but the main reason for that is lack of confidence, discipline and very poor risk management. After few losses I always extend my trading position - trying to get my money back, and that was very BAD idea. If you will risk very low amount, also the loosers brings less stress and frustration. Then the success rate will be higher, less emotions and "clear head" decissions will make it easier.

I remember my feeling about psychology books(Mark Douglas, Brett Steenbarger)two years ago - only laughing and prefering books about TA(Technical Analysis of the Financial Markets) or different systems(Mastering ther Trade). Now it has changed.

I have still very poor days, but I try every morning before I take first trade to ask myself if I am ready to follow all my rules, or just hurry to take gambling trades - keeping this informations help me to see if there is some progres. Sometimes I ask myself so many questions - is there somebody, who makes on consistent base money? Are all this systems and indicators only funny tools from market makers? Is it really possible to live from FOREX? SO many questions...Yes, it is for sure possible. Just do not give up.

I think we are in the right threat.
Have a great trades
Bruno
Time to read Mantra and Motivation section...
OK, I made a meal out of today's (tonight's) Japan open (10/23/07-20:00 EST)...

Not sure where I went wrong other than bailing sooner than my set SL of about 7-9 pips...

Thankfully I am still learning, albeit with 1 micro...

Any & all suggestions/advice would be appreciated...

Now if I was with a mentor in a chat room he/she would have told me not to enter...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpJPY071023c2.JPG Size: 101 KB
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