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Linuxtroll Simple Scalping

Quoting dracozny
wish I could post a screenshot but I have all 4 decimal places on the chart.
please post screenshot if you can... of gbpusd or any other 4 decimal currency pair. I no longer have ninja (aka memory hog) installed but I thought that's what the problem was (it would only show 2 decimal places) even for GBPUSD.

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)
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
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You have problem identifying the direction of that scalp - are you freaking out when the flame jump up and down... As a rule of thumb - just scalp in the direction of the spine on the chart in front of you (White line here)... 5 sec is too aggressive? so what? just move to 10 sec... sneak peek at 1 min or 5 min to make that comfort level - nobody is stopping you - just keep it simple and smart... but do not over trade until you master the Rainbow with a lot of screen time... Always keep one screen and master it (switch quickly only when you sneak peak) Make sense? Now charge on... Jump in and out... Make Millions... Multi-millions...
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Quoting ycomp
my guess... the last 2 decimal places
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.
Quoting justbully7
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.
You guys are dreaming and wasting your time... NinjaTrader is not ready for EFX yet... Hope efx will release their web platform soon (hopefully without pop-up screen - so that we can use our mobile devices to scalp)...
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?
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.
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Quoting Stan
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?
Ah ha... million dollar question from Stan... I know you have used enough screen time, so guess the numbers and post it here for our fellow scalpers... 10 sec chart (Camilla's Rainbow setup)...
Quoting >Apocalypto<
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.
Charge on... Use whatever works for your eyes and brain... Do not change when you have a working currency and a setup ideal for you... No need to stress yourself with eurjpy... learn all about aud/usd and make it your currency pair...
Quoting linuxtroll
Charge on... Use whatever works for your eyes and brain... Do not change when you have a working currency and a setup ideal for you... No need to stress yourself with eurjpy... learn all about aud/usd and make it your currency pair...
Cheers Brother.

Linuxtroll, you are a very rare find not only are you very successful at your trade but you are one of the few who offer support and guidance with no charge.

thank you for that.

update pulled another 11 out of that fall that just happend on the aud/usd : ) news report got the market moving
Quoting >Apocalypto<
Cheers Brother.

Linuxtroll, you are a very rare find not only are you very successful at your trade but you are one of the few who offer support and guidance with no charge.

thank you for that.
AND...has proven to be very patient and instructive. It's almost as if he actually enjoys helping people.
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
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WOOHOO the E/J is in a free fall
Money for nothin' and pips for free!
....
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cowboy is coming...yeee haaaaa
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Quoting Stan
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?
You mean like this?
http://i1.tinypic.com/4u91vee.jpg
I'm thinking if you would like a thicker spine in your Oanda charts and your last wma is 156 just add a 157 and 158 wma in white and that should make it wider.
That's exactly how I did it.
Quoting linuxtroll
You guys are dreaming and wasting your time... NinjaTrader is not ready for EFX yet... Hope efx will release their web platform soon (hopefully without pop-up screen - so that we can use our mobile devices to scalp)...
Absolutely true. When i tried oanda charts with mbt execution i didnt like that Oanda was lagging so i decided to try Ninja. Ninja has it's disadvantages: shitty v-line, it doesnt show half-pip moves and it only shows bid price (when bid is the same and ask fluctuates you dont see any moves). So i started watching both oanda and ninja charts. Then i realized i didnt need ninja. Oanda charts and fxboard are fine. Superdom would be even better but i havent found a good one yet.

ps if you still choose ninja use their hilo bars instead of line
"Nothing is unexplainable, Everything is mystery" W. Liquorman
Quoting bluebuddha
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!
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