Linuxtroll Simple Scalping | Page 179 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Simple Scalping System 64 replies

xPip Simple Scalping 27 replies

Attachments: Linuxtroll Simple Scalping
Exit Attachments

Linuxtroll Simple Scalping

  • #3,561
  • Nov 13, 2007 6:06pm Nov 13, 2007 6:06pm
Did anyone know a software which takes auto screenshots in .png format???

Lets say every 30 minutes
  • #3,562
  • Nov 13, 2007 6:31pm Nov 13, 2007 6:31pm
Quote
Originally Posted by FiboFan View Post
watch a trend start and not be in it till a pullback then to jump in at
very small signal and hope your at the begining of a trend.
My skills in different areas have mostly improved lately. But, entering on
pullbacks isn't one of them. LOL

Actually my best entrance is not really a pullback but more like a stall after a strong move. A pullback tends to be too inaccurate. Those "stalls" don't retrace and when the move again almost always cover the spread plus extra instantly...


If the market doesn't go my way I'm out at twice the spread!
Do you pre-set a "catastrophic" stop farther out?

Any farther than twice the spread is Catastrophic... : )
Its too tough to gain those pips back

The discipline to get out then is another story!!
I still "sit" on a 7 pip gain waiting for more as it dissapears : (
  • #3,563
  • Nov 13, 2007 6:43pm Nov 13, 2007 6:43pm
Quoting bluebuddha
I tried exponential progression of a factor of two (ie: one MA is twice a previous MA). Didn't like how it looked, and went back to linear progression. However, that square of numbers doesn't look too bad.
yeah, i dont like too many lines but was a little unconfortable with a spine and average price lines only
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #3,564
  • Nov 13, 2007 7:56pm Nov 13, 2007 7:56pm
Quoting Iqtrading
Did anyone know a software which takes auto screenshots in .png format???

Lets say every 30 minutes
use Windows Paint.capture the screen and save as .png format.
  • #3,565
  • Nov 13, 2007 8:11pm Nov 13, 2007 8:11pm
Quoting Iqtrading
.
Huh... interesting correlation. I wonder if the intraday is the same. I was thinking of getting into the Dow eminis during US market hours.
  • #3,566
  • Nov 13, 2007 8:21pm Nov 13, 2007 8:21pm
Quoting bluebuddha
Huh... interesting correlation. I wonder if the intraday is the same. I was thinking of getting into the Dow eminis during US market hours.
us stock market is the reflection of carry trade movements hence correlation with such pairs as gbp/jpy eur/jpy... they will look similar on bigger timeframes but not much on tick or 5 sec charts
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #3,567
  • Nov 13, 2007 10:41pm Nov 13, 2007 10:41pm
Quoting eyecelll
us stock market is the reflection of carry trade movements hence correlation with such pairs as gbp/jpy eur/jpy... they will look similar on bigger timeframes but not much on tick or 5 sec charts
That would explain why the correlation begins around Jan 2004, as this was around the time that the carry trades became very significant with corporations.
  • #3,568
  • Nov 14, 2007 12:21am Nov 14, 2007 12:21am
Alo alo,

I have done record yesterday in demo trading ,I reached the 176 !

So today I received a message that demos are not available anymore in mbtrading,lol.

Is this for me only ,or you don;t have access too?

Cheers

Basil
Learn something difficult and earn real money for ever, a lot.
  • #3,569
  • Nov 14, 2007 12:22am Nov 14, 2007 12:22am
Quoting FiboFan
I still "sit" on a 7 pip gain waiting for more as it dissapears : (
I've done that a few times and I've learned not to do it again. There is always another entry point around the corner. It's best to take those 7 pips unless the spine angle is pointed way down/up and it's just the beginning of a new trend. Then I let those ride for a little bit longer during really active market times and end up taking in 15+ pips. Usually I close out my trade if I see it my profit going back. My cut-off point is usually 5 pips if it starts going down from 7 pips for example. Sometimes the price pulls back a little bit before it continues flying down (or up depending on the trend) so I watch out for that.




Also was it just me or did Oanda disconnect for a while this morning?
  • #3,570
  • Nov 14, 2007 12:55am Nov 14, 2007 12:55am
miss this good move moment ago because not able to login into Oanda.anybody able to stay connect with their server?
Attached Image (click to enlarge)
Click to Enlarge Name: miss.PNG Size: 39 KB
  • #3,571
  • Nov 14, 2007 12:57am Nov 14, 2007 12:57am
I was able to stay connected with them for about an hour now. Everything seems to be functioning right now.
  • #3,572
  • Nov 14, 2007 1:31am Nov 14, 2007 1:31am
Quoting FiboFan
I still "sit" on a 7 pip gain waiting for more as it dissapears : (
Do you really need more?

If you believe you do, consider sitting on the fence: partial closure and moving SL to BE for the rest.
  • #3,573
  • Nov 14, 2007 1:58am Nov 14, 2007 1:58am
Quoting Blazer
Alo alo,

I have done record yesterday in demo trading ,I reached the 176 !

So today I received a message that demos are not available anymore in mbtrading,lol.

Is this for me only ,or you don;t have access too?

Cheers

Basil
Great Job Basil!
They must have restocked the demo pip bank after you
wiped it out! LOL Seems to work fine here.

Wishing you continued success!
Brent
  • #3,574
  • Edited 2:17am Nov 14, 2007 2:04am | Edited 2:17am
Classic European open reversal....
Favourite trading time of UK's BBC traders ('Before Breakfast Club')...
Attached Image
  • #3,575
  • Nov 14, 2007 2:21am Nov 14, 2007 2:21am
Quoting monarch
The biggest challenge that any trader will face is the one that deals with the mental strategy of a trader.

If you watch the charts for hours and hours, without thinking of making a trade, but to just get as familiar with the pair you trade, then you will start to see a cycle/trend with that pair.

I use the Rainbow occasionally for more screen time, but I spend most of my time watching the price action itself, thus the second chart Linuxtroll shows on post #1.

It is very easy to get overwhelmed in Forex, but I personally came to a decision some time back to take on one pair, and that has been the E/J.

I have many charts with pairs on my screen top, but I only press the button for E/J 95% of the time, I will take a trade on a few pairs if they are ready to pick.

I remember thinking when I first started that I would be rich in 90 days, no problem, this is easy stuff. Come to find out, that 90 days was the longest and worst 90 days of my trading career.

I don't know how long most traders take in their learning curve, but the Rainbow will teach you fast about price action, and that is where the money is made. One can trade many timeframes, but after a while you just start to see the price move (rainbow reveals this) and you start to pick up more wins then losses.

Learn from small losses, keep it real simple, and do not overtrade.

Linuxtroll says he usually goes for a 6 pip move per day, WOW, if we stopped at our first 6 pip win, then we would be more successful, because most traders are trading way too much.

I have only made about 5 trades since market open, and I have yet to make one trade today, even though I made about 20 paper trades for learning the EJ characterstics.

Keep on pressing on, and make smaller mistakes by making less trades.

Just my two cents worth folks.

Enjoy and prosper.

Ken
I'm pretty much heading down this path. You naturally gravitate toward the European currencies when you want to trade the European opens - so many of my initial scalps using Herr LinuxTroll's method were based on eventually doing EUR/JPY or GBP/JPY when I eventually go live.

Well, I've actually decided on AUD/JPY as it moves like Euro and Sterling to the Yen at European open, and when you're using EFX, it's by far and away the cheapest to trade - roughly just 1 pip for roundtrip commission (GBP/JPY is over 2pips roughly). Not only that you can leverage the crap out of it - much more than EUR or GBP. Remember I'm only going for 12 pips a day. And I'm only trading high probability entries - and this is the key going forward, aiming for that 95%+ success rate and keeping it consistent, only when I do get up there with my 1-3 trades per day will I commit real money and start following my 'Pip Plan' (see attached).

I only want 12 pips a day because quite frankly - it's summer and I don't want to be sitting at my PC whilst daylight savings is running full tilt (I'm in Melbourne, 11 hours behind GMT) and I've narrowed my trading times considerably since I first started practising - from about 3-4 hours where I was no where near as successful as I am now where I'm in front of Oanda/EFX Navigator for 1.5 hours max (usually only an hour!). Focusing time and concentration I've noticed helps a lot.

I reckon after 3 months of live trading, I might double my pip target to 20-24 pips per day - depending on confidence levels etc.

Pip Plan: feel free to use it / change it to your liking, any field that is highlighted in blue is changeable - make sure you update the exchange rates at least on a daily basis. Change your starting balance next to week 1 and adjust the lot sizes according to how much you want to risk on one scalp (Green = below 50%, Orange = 50-80%, Red = above 80%). Yes I know it doesn't take potential losses into account - this is only a rough guide.
Attached File(s)
File Type: xls Pip Plan v2.xls   40 KB | 840 downloads
  • #3,576
  • Nov 14, 2007 2:26am Nov 14, 2007 2:26am
Quoting amenlo9
miss this good move moment ago because not able to login into Oanda.anybody able to stay connect with their server?
I have many disconnects too during London open. That is worse than slippage or spread widening :-(
  • #3,577
  • Nov 14, 2007 2:29am Nov 14, 2007 2:29am
Im using Oanda and was about to dump my trade for 37pts but this box came up saying I was disconnected. I was disconnected for the next 3 minutes which was enough to turn a 37pt win into an 11pt win. Did anyone else experience this and what is the solution? I really need to know because this is costing money.
  • #3,578
  • Nov 14, 2007 2:45am Nov 14, 2007 2:45am
1st Window EUR/YEN and the window below the DJI
Attached Image (click to enlarge)
Click to Enlarge Name: DOW VS EURO YEN.PNG Size: 34 KB
  • #3,579
  • Nov 14, 2007 2:59am Nov 14, 2007 2:59am
...
Quoting tayser
AUD/JPY

Thanks for the tip!

'Pip Plan' (see attached).

Best of Luck! Thank you for sharing it with us!
  • #3,580
  • Nov 14, 2007 3:21am Nov 14, 2007 3:21am
Quoting amenlo9
use Windows Paint.capture the screen and save as .png format.

Thx amenlo but this was not my opnion, i search a tool which creates automatic every 15 mins a screenshot in png, jpg is not fine enough...
1 trader viewing now