Dislikedwish I could post a screenshot but I have all 4 decimal places on the chart.Ignored
You are using EFX feed right? If you are using gain feed then I guess it should work fine with 4 decimals (although I haven't tried it)
- #3,162
- Edited 6:53am Nov 1, 2007 6:30am | Edited 6:53am
- | Commercial User | Joined Mar 2004 | 1,255 Posts
You may not see the moves from 5 min chart below, but xx sec charts will always give your the daily targeted pips... When you use Rainbow, you do not need more than 5 min to capture big moves (but your profile - high risk profile - more pips - for big fat scalper with nerve)... People who have problem identifying the time - just try to take the moves everyday between 6:00-8:00 am EST for a month and see the progress... There are many other profitable times throughout the day - so no excuse that I can not trade because I have a full-time job... You can always pick 1-2 hours and make those daily pips, while you are keeping that job... LoL 
my guess... the last 2 decimal places
The Gain feed works fine with currency pairs with four decimal places, but the MBTrading (EFX) feed works for only for two decimal places.
I'll just stick with what I use now.
- #3,165
- Nov 1, 2007 6:49am Nov 1, 2007 6:49am
- | Commercial User | Joined Mar 2004 | 1,255 Posts
No actually I wanted a feed directly from MBTrading, but you were close.
The Gain feed works fine with currency pairs with four decimal places, but the MBTrading (EFX) feed works for only for two decimal places.
I'll just stick with what I use now.
- #3,167
- Edited 7:18am Nov 1, 2007 6:58am | Edited 7:18am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
I have been practicing the rainbow for about 3 weeks now, I read the ebook was excellent, thanks for the hard work Linuxtroll.
I still follow the set up to a tee on 5sec. But I have made some minor changes that suit me a little better. I watch the 10 sec chart and i have changed price and wma1 to pink. this seems to work better for me.
5 second is so fast i am still in screen time mode on that.
I am using Oanda demo for charts and EFX for trading. I have found the eur/jpy to be a little to fast. So I am concentrating on the pair that I position trade the AUD/USD
Has anyone else had probs trading the eur/jpy? I don't know why on the aud and euro making 20 -30 and losing on a couple is a much easier task then euro/jpy, on that i am always getting my ass kicked!
another point is aud/usd brokerage is only 9.40 in and out compared to 14$ on the eur/usd and eur/jpy
took 15 pips out tonight on two trades, so now i am just watching unless something really nice presents it's self.
attached is my set up.
I still follow the set up to a tee on 5sec. But I have made some minor changes that suit me a little better. I watch the 10 sec chart and i have changed price and wma1 to pink. this seems to work better for me.
5 second is so fast i am still in screen time mode on that.
I am using Oanda demo for charts and EFX for trading. I have found the eur/jpy to be a little to fast. So I am concentrating on the pair that I position trade the AUD/USD
Has anyone else had probs trading the eur/jpy? I don't know why on the aud and euro making 20 -30 and losing on a couple is a much easier task then euro/jpy, on that i am always getting my ass kicked!
another point is aud/usd brokerage is only 9.40 in and out compared to 14$ on the eur/usd and eur/jpy
took 15 pips out tonight on two trades, so now i am just watching unless something really nice presents it's self.
attached is my set up.
- #3,169
- Nov 1, 2007 7:18am Nov 1, 2007 7:18am
- | Commercial User | Joined Mar 2004 | 1,255 Posts
I have been practicing the rainbow for about 3 weeks now, I read the ebook was excellent, thanks for the hard work Linuxtroll.
I still follow the set up to a tee on 5sec. But I have made some minor changes that suit me a little better. I watch the 10 sec chart and i have changed price and wma1 to pink. this seems to work better for me.
5 second is so fast i am still in screen time mode on that.
I am using Oanda demo for charts and EFX for trading. I have found the eur/jpy to be a little to fast. So I am concentrating on the pair that I position trade the AUD/USD
Has anyone else had probs trading the eur/jpy? I don't know why on the aud and euro making 20 -30 and losing on a couple is a much easier task then euro/jpy, on that i am always getting my ass kicked!
took 15 pips out tonight on two trades, so now i am just watching unless something really nice presents it's self.
attached is my set up.
- #3,170
- Edited 7:50am Nov 1, 2007 7:31am | Edited 7:50am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
LT,
I think I like the way your most recent charts look. Easy to read the Flame and the spine.
Is it the same WMA's as the other?
How did you make the spine thicker?
http://i1.tinypic.com/4u91vee.jpg
- #3,180
- Nov 1, 2007 1:42pm Nov 1, 2007 1:42pm
Here's the reason why if you use stop orders (for in case of platform crash, dog crapping on carpet, house next door catching on fire, etc.), to set them W-I-D-E! There was a sudden plunge of 10 pips on the EURJPY, that bounced back up. (Believe me, my finger was hanging over the "close" button) Anyone know the reason why*?
I was confident with this trade (though I was quite on the entry) because my 1 min showed it bouncing between 166.80 and 167.20 since the end of the London open. Got out on a TP set at 167.10, and sure enough, it got choppy closer to 167.20 and began to turn around.
* Big hint: this happened near 167.00
This is why I prefer the Conservative Rainbow 1-250, whit aggressive setup you have many false spine break. Anyway I prefer to have my stop few pips under the last swing low
As you said Wider is better!
Happy scalping!
