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Linuxtroll Simple Scalping

Quoting Quick
Hey Trollmann,

Are we going to be able to trade from your charts too or is it just to observe? (like when looking at Oanda but trading from EFX, etc)
Just to get the real feed without broker manipulation, so that we can scalp with the big boys... It may be an expensive solution, but we can make the monthly fee within a few scalps...
Quoting shutopia
For those of you who are Rainbow scalping the EUR/JPY pair via Oanda, be very careful about both WHEN you scalp, and the SIZE of each trade.

This morning, 1-2am PST, at least 80% of my EUR/JPY scalp entries were slipped. Oanda's platform reported "Communicating with server..." for around 5-10 seconds before the order executed. My orders were for around 50,000 units. I then lowered my units down to 30,000, and even 1,000. Same result. I did not have this problem with the EUR/JPY pair in the past 2 weeks. EUR/JPY did move a lot though... hint hint hint.

I immediately switched over to scalping the EUR/USD, and I noticed a dramatic difference. 90% of my entries were filled in a timely manner.

My conclusion is that EUR/USD liquidity helps OANDA fill orders. However, when EUR/JPY liquidity is lower than usual, they will purposely stall your entries and exits until there are enough open orders on their fake market before executing your trade. I don't yet know if my 50,000 units makes a difference anymore.

Does anyone else have a similar experience to share?
Better yet, a solution or workaround?
Solution: ECN...
Quoting shutopia
For those of you who are Rainbow scalping the EUR/JPY pair via Oanda, be very careful about both WHEN you scalp, and the SIZE of each trade.

This morning, 1-2am PST, at least 80% of my EUR/JPY scalp entries were slipped. Oanda's platform reported "Communicating with server..." for around 5-10 seconds before the order executed. My orders were for around 50,000 units. I then lowered my units down to 30,000, and even 1,000. Same result. I did not have this problem with the EUR/JPY pair in the past 2 weeks. EUR/JPY did move a lot though... hint hint hint.

I immediately switched over to scalping the EUR/USD, and I noticed a dramatic difference. 90% of my entries were filled in a timely manner.

My conclusion is that EUR/USD liquidity helps OANDA fill orders. However, when EUR/JPY liquidity is lower than usual, they will purposely stall your entries and exits until there are enough open orders on their fake market before executing your trade. I don't yet know if my 50,000 units makes a difference anymore.

Does anyone else have a similar experience to share?
Better yet, a solution or workaround?
I think you refer to Monday's London session. My orders were delayed 2 seconds or so but the connection status indicator was yellow and then I was disconnected few times during London session. Luckily I still made profit.
Quoting shutopia
For those of you who are Rainbow scalping the EUR/JPY pair via Oanda, be very careful about both WHEN you scalp, and the SIZE of each trade.

This morning, 1-2am PST, at least 80% of my EUR/JPY scalp entries were slipped. Oanda's platform reported "Communicating with server..." for around 5-10 seconds before the order executed. My orders were for around 50,000 units. I then lowered my units down to 30,000, and even 1,000. Same result. I did not have this problem with the EUR/JPY pair in the past 2 weeks. EUR/JPY did move a lot though... hint hint hint.

I immediately switched over to scalping the EUR/USD, and I noticed a dramatic difference. 90% of my entries were filled in a timely manner.

My conclusion is that EUR/USD liquidity helps OANDA fill orders. However, when EUR/JPY liquidity is lower than usual, they will purposely stall your entries and exits until there are enough open orders on their fake market before executing your trade. I don't yet know if my 50,000 units makes a difference anymore.

Does anyone else have a similar experience to share?
Better yet, a solution or workaround?
Hi

I don't think it had anything to do with your scalping, the pair you traded or your amount of units.
I traded 8 different pairs today at Oanda. It was not Cyrox or any other scalping but i was testing a new method so i traded small. Only 5000 units and i had the same problems on all pairs most of the day.
Oanda even fall offline two times and i was in a chat room and other people reported Oanda offline at the same time as me.
I have no idea what the reason for all this was but i guess they had some sort of server problems today.
What ever the reason was i had the same problem as you (and more) on 8 different pairs and like i say i did not scalp and i had small trades.

Arctic4x
Quoting ycomp
hi lt,

can you explain the 18 pip max sl rule? I'm not exactly sure what is meant by an 18 pip -maximum- stop loss... (in regards to 5 sec chart)
BCP... Absolute max stop-loss; say for September 11th or Blackout scenario...
Quoting bltoby
trading index futures will be better, i think. But need more starting capital.

Now Ya Talking
Enter Signature
Quoting Arctic4x
Hi

[...]

What ever the reason was i had the same problem as you (and more) on 8 different pairs and like i say i did not scalp and i had small trades.

Arctic4x
I had the same problem. Offline - Online and my order execute took a long time. One scalp went bad, because it has set my order-price (@165.88) to high (@165.94), because of the delay, and the price-action (flame) reversed (spine) on not came back since. All the profits of the day gone; If still have to learn to stop the trade as soon it see that the price moves against me and not wait till I "know" that the trend has been reversed and not coming back for a while.

Maybe it's time for me to trade with EFX.
is anyone currently testing the remote trader beta (aka: Omega)?? its available to select live traders according to the site.
I'm scalping at Oanda without much problem.
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Hi, newpip, I can see that your scalping style is very simple. How are your results?
EJ off to a bloody start durring the close of Asian. Ouch!!!!!!!!!!!!
Quoting DeeNY
EJ off to a bloody start durring the close of Asian. Ouch!!!!!!!!!!!!
That means someone else took home gold. hehe
Quoting Arctic4x
Hi

I don't think it had anything to do with your scalping, the pair you traded or your amount of units.
I traded 8 different pairs today at Oanda. It was not Cyrox or any other scalping but i was testing a new method so i traded small. Only 5000 units and i had the same problems on all pairs most of the day.
Oanda even fall offline two times and i was in a chat room and other people reported Oanda offline at the same time as me.
I have no idea what the reason for all this was but i guess they had some sort of server problems today.
What ever the reason was i had the same problem as you (and more) on 8 different pairs and like i say i did not scalp and i had small trades.

Arctic4x
Arctic4x, thanks for your report. I was scared that I'd never be able to scalp eur/jpy with Oanda anymore. I have to add that the slippage I had described did happen in the past at sporadic times, just not as prolific or as widespread as we have just discovered.

I guess this is why many traders choose to have 2 active brokerage accounts at any time.
It seems that most people are using the Oanda charts here, and they are good for trading quickly like this, being able to adjust stops as the spine crosses the H-lines is great.

To be totally honest even the spread isnt to bad oanda 2.3pips and is still workable on the 5sec chart.

But Ive been reading up and have also seen someone mention in a post here the new EFX remote trader that will be available soon.......
On the site they state that trading off the charts will also be available, so to me it seems it will have the possitive points of oanda plus the benefit of ECN spread.

But on 2nd thoughts isnt the spread 1pip on EFX, then add the 50c each way for a mini, so the spread is thesame as oanda. Im not possitive about the commision but I think that is correct.

I will be posting some trades sometime soon when I get the chance to take some, but as I know this thread has been open a long time and Im wondering if anyone is comfortable trading this way yet and is making possitive regualr results.

Also I have a question for Mr. Linux. Ive herd you speak about the 90% winning trades to strive for. I was just wondering how this is realisticaly possible, It seems inherit that more than 1 out of 10 trades will surely go against you.

Now dont get me wrong, Considering the nature of the system, If traded correctly then even without the 90% success rate, The winners will be considerably larger than loosers, and if a full working day is used to trade there will be many pips to be made! Or a little luck and some carefull selection and you could have your trading day done for 20pips in no time!

Another question aswell, I have noticed different people using differents amounts of WMA's which will obviously change results largely, Is there a certain number of MA's recognised as the 'TRUE' LT simple scalp strat?
Personally my largest Wma onchart is the 100wma wich looks great to be honest.

I see alot of potential with this for me, and maby this will be the one that sticks and takes me all the way. Well...... I can hope!

Leon
Living the adventure in my head.
Quoting shutopia
That means someone else took home gold. hehe
I guess a thank you would be in order.
Thank you.
I am trying to follow those charts, please advice, got 14 pips.
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Looks more than OK
Money for nothin' and pips for free!
A few things I look for and set-up:

-- Look at a longer term chart (ie: 30 sec thru 5 min) with a rainbow on it to both get a sense of larger trend and S/R levels. I prefer to use 1 min. You don't have to refer to it often, as it changes slower.

-- If longer trend is sideways, especially pay attention to those S/R levels... even mark them with horizontal trend lines on the shorter term chart. I've had a few days where I can easily scalp 5-10 pip moves all day from the bounces. In those situations, using TPs is not a bad idea.

-- Mark round numbers (***00s and ***50s), the market gets strange about 5-10 pips around these numbers, as they're huge lines in the sand for banks, funds and large multinationals. (ie: right now the EURJPY has been hanging sideways, just under the 167.00 for almost an hour. It just refuses to punch through it, despite longer term uptrend).



... and oh yeah... spikes *are* evil!
Quoting Leonlorenzo
But on 2nd thoughts isnt the spread 1pip on EFX, then add the 50c eachway for a mini, so the spread is thesame as oanda. Im not possitive about the commision but I think that is correct.
Actually it depends on the currency your account is in. For EUR/USD it's $0.65 each way for a mini.
Some days, you just want to set a TP & SL, cross your fingers, and go make some coffee. EUR/JPY has been refusing to get anywhere near the 167.00, so I decided to short for a few pips more when it looked like it turned around... but man, did it take a while.
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