Note the xxx exit... if you like to take risk, stay there and use x... There are so many setups and patterns in Cyrox Rainbow (that's why screen time)...
- #2,988
- Oct 24, 2007 11:16am Oct 24, 2007 11:16am
Just a quick note ( I pm'ed you on detailed analysis)
I might have scalped the first retracement (when flame broke the spine) but otherwise I would have stayed out. There are not many clear signals to me with enough room to take profit amounts i like to take (6 pips).
good luck
--Mark
EllisEdi Moving on to my next trade ...
- #2,989
- Oct 24, 2007 11:50am Oct 24, 2007 11:50am
Well, I read first about this kind of strategy a few years ago. This was used to be a strategy for noobs at roulette. But just think about it. If you will reach at the 5th level that means you enter with 16 lots and the final gain after that 5 level will be only 100$!! for a 1600$ risk, what if there is a 6th or 7 level? U will need 64 lots! and the profit will still be 100$, or am i wrong?
in over 2 months iīve never hit 5th level.. this is a training method just to get newbies stress free, untill they reach > 90% hit rate. Itīs just a simple way to start.. nothing more then that.
"Hoe ur pips mate?" fxcarllos
- #2,991
- Edited 1:21pm Oct 24, 2007 12:11pm | Edited 1:21pm
Couple nice trades @ 9:00 am est. I,m out. Left the big move for you guys, I cant take all the money.
I took Glen's advice and kept an eye on the 30s TF as well, and tada, 2 things happened: I avoided the stupid trades, and was able to get a couple higher probability ones. It's great to see the "planet's align" like that, kinda like Neo at the end of the Matrix when he sees the data behind what's happening around him. Next step, rinse & repeat...
- #2,992
- Edited 9:18pm Oct 24, 2007 9:06pm | Edited 9:18pm
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
Yesterday I had a bad session for my rainbow scalp ...
guided with oanda chart and trade in efx was simply like chasing something never there, ...... oanda was half a second late always. I am sure it was because of the news etc. and entered on wrong side almost each time.
after relax a while, i thought i might try the ninja again.
Then, I open my ninja trader with its ugly 1 tick chart rainbow
.. watch the price action there with oanda 5s chart below it just to get larger view and made 60 pips in 6 trade...... 
.
I guess I will have to move to better charting software to really make use of this rainbow system.
Mr LinuxTroll.
The e-book does has some recommendations on this but if you don't mind me asking,
what charting software you personally use ? and with which broker you use them.
God Bless
guided with oanda chart and trade in efx was simply like chasing something never there, ...... oanda was half a second late always. I am sure it was because of the news etc. and entered on wrong side almost each time.
after relax a while, i thought i might try the ninja again.
Then, I open my ninja trader with its ugly 1 tick chart rainbow
.. watch the price action there with oanda 5s chart below it just to get larger view and made 60 pips in 6 trade...... . I guess I will have to move to better charting software to really make use of this rainbow system.
Mr LinuxTroll.
The e-book does has some recommendations on this but if you don't mind me asking,
what charting software you personally use ? and with which broker you use them.
God Bless
- #2,993
- Oct 24, 2007 9:21pm Oct 24, 2007 9:21pm
- | Commercial User | Joined Mar 2004 | 1,255 Posts
Yesterday I had a bad session for my rainbow scalp ...
guided with oanda chart and trade in efx was simply like chasing something never there, ...... oanda was half a second late always. I am sure it was because of the news etc. and entered on wrong side almost each time.
after relax a while, i thought i might try the ninja again.
Then, I open my ninja trader with its ugly 1 tick chart rainbow
I guess I will have to move to better charting software to really make use of this rainbow system.
- #2,994
- Oct 24, 2007 9:34pm Oct 24, 2007 9:34pm
I can't wait for these charts. Do you have an estimated time on when you will release them after testing?
DeeNY
DeeNY
Do not worry... I am working on that issue... Linuxtroll may provide pure feed without any manipulation with 5 sec Rainbow only... That way Rainbow scalpers can trade with any broker... I will test it first, whether this will work or not... Easy if we can also use our BlackBerry or Windows Mobile 6... Good if it is a web based solution... Opera browser will work on many mobile devices... LoL
- #2,995
- Edited 10:06pm Oct 24, 2007 9:54pm | Edited 10:06pm
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
Do not worry... I am working on that issue... Linuxtroll may provide pure feed without any manipulation with 5 sec Rainbow only... That way Rainbow scalpers can trade with any broker... I will test it first, whether this will work or not... Easy if we can also use our BlackBerry or Windows Mobile 6... Good if it is a web based solution... Opera browser will work on many mobile devices... LoL
and you need to get them done
and I think the thing we need is charting, that can download full history. datafeed with most ECN is good enough, I even play with it last night, after news release & made it -30 pip spread just for fun. when no one trade, with that low liquidity.
- #2,998
- Oct 24, 2007 10:26pm Oct 24, 2007 10:26pm
I have been using EFX so far as well as Oanda, but you had told us to not use a MM, so I may ditch Oanda...but need a good ECN--any other ideas? Again, thanks...pk
Any advice regarding how to get the most out of EFX/MBT would be appreciated, like docs, tips, etc.
WRT earlier comments about screen time, it's a necessity not only in order to recognize the setups that work, but also those that don't, after all a pip saved is a pip earned, or something like that...
Many thanks to all... I'm SLOWLY getting there...
- #2,999
- Oct 24, 2007 10:36pm Oct 24, 2007 10:36pm
Seriously LT, I've tried Oanda with my wm5 (as I read, only really cosmetically different than wm6) pda phone and can't get it to work--and I've looked everywhere on FF and Oanda forums to no avail--something to do with screen resolution and no support for multiple windows--which is kind of ridiculous as Opera supports multiple windows. I finally gave up and took off my data plan (I promised my wife it would pay for itself so it had to go) I'd love to find out how to use it--any tips...I'd also love to hear of someone on here who is trading in $20-$50/pip increments with Oanda and making money. That would reassure me that they aren't just going to start looking for excuses to excuse me from my account. And I also wonder about EFX--it would be great to have a true ECN prime hub feed...but I'm dreaming--anyone on here with 10mil? pk
) I'd love to find out how to use it--any tips...I'd also love to hear of someone on here who is trading in $20-$50/pip increments with Oanda and making money. That would reassure me that they aren't just going to start looking for excuses to excuse me from my account. And I also wonder about EFX--it would be great to have a true ECN prime hub feed...but I'm dreaming--anyone on here with 10mil? pk
- #3,000
- Oct 24, 2007 10:39pm Oct 24, 2007 10:39pm
- | Commercial User | Joined Mar 2004 | 1,255 Posts
Are you not happy with EFX? I just funded my account with them. Not sure which platform to use, EFX Forex client or EFX Navigator (heard about Omega - not sure how it is or how to get it). I must admit I am rather attached to Oanda platform (just not their spreads, delay & outages). I also have Tradestation & notice that its feed is noticably earlier than Oanda. Not sure if I'm going to keep TS, since it involves a monthly cost (unless you use them as a broker, but for our purposes the spreads seem large). I have tinkered in the past with Xtick, which is a funky charting program, but it requires a sub too. LT has mentioned them in the past.
Any advice regarding how to get the most out of EFX/MBT would be appreciated, like docs, tips, etc.
WRT earlier comments about screen time, it's a necessity not only in order to recognize the setups that work, but also those that don't, after all a pip saved is a pip earned, or something like that...
Many thanks to all... I'm SLOWLY getting there...