Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

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

today is one of my worst days with rainbow for me. almost none of my usual setups work. Price is totally chaotic and jumps 5-10 pips at once (at least on oanda). I really hate it, my success rate today is like 50% or less, basically i feel like I am making blind entries randomly, I could as well go against my rules on rainbow and be in profit by now. No more trading for me for today.
DrainBamage,
I know the feeling. Remember, when the market conditions aren't ideal it's easy to get caught up in gambling not trading. 10-20 pips trades can happen in less than a 5 minute window after watching a market for 6 hours for the conditions to be right. That's a lot of watching and not trading !!
Quoting DrainBamage
today is one of my worst days with rainbow for me. almost none of my usual setups work. Price is totally chaotic and jumps 5-10 pips at once (at least on oanda). I really hate it, my success rate today is like 50% or less, basically i feel like I am making blind entries randomly, I could as well go against my rules on rainbow and be in profit by now. No more trading for me for today.
I had the same...super loss...
Quoting DrainBamage
today is one of my worst days with rainbow for me. almost none of my usual setups work. Price is totally chaotic and jumps 5-10 pips at once (at least on oanda). I really hate it, my success rate today is like 50% or less, basically i feel like I am making blind entries randomly, I could as well go against my rules on rainbow and be in profit by now. No more trading for me for today.
While I am not an expert in the LinuxTroll system (I don't scalp), there's a universal principle in trading that applies to all system: there are some days that the best trade is to actually not trade at all. In my opinion, it's just as important to learn a system inside out than to learn when the right conditions are just not there and thus it's best to remain out of the market all day long until the dust settles.
Quoting WTB
While I am not an expert in the LinuxTroll system (I don't scalp), there's a universal principle in trading that applies to all system: there are some days that the best trade is to actually not trade at all. In my opinion, it's just as important to learn a system inside out than to learn when the right conditions are just not there and thus it's best to remain out of the market all day long until the dust settles.
I wouldn't wish bad breaks off on anyone, but your last two posts at least make me feel better, since the same thing is happening to me.

BTW, has anyone had problems connecting to Forexfactory.com during the last day or so?
Quoting bluebuddha

The other added benefit of the rainbow is that if you focus only on the rainbow itself, it shuts your left brain up from over analyzing the trades.
We all should keep that in mind.


KISS


MANTRA #1-#25


For all that not profitable today, if u feel that u can't get profitable in the day, why not stop? When u get the insight that today it's to choppy, why not stop?

 Mantra #1 The Market PAYS You To Be Disciplined
Very true!

Quoting WTB
While I am not an expert in the LinuxTroll system (I don't scalp), there's a universal principle in trading that applies to all system: there are some days that the best trade is to actually not trade at all. In my opinion, it's just as important to learn a system inside out than to learn when the right conditions are just not there and thus it's best to remain out of the market all day long until the dust settles.

Sleepdoc , no problems with forexfactory at all
Quoting Iqtrading

For all that not profitable today, if u feel that u can't get profitable in the day, why not stop? When u get the insight that today it's to choppy, why not stop?
It's a real benefit of this very short TF method. If you decide for whatever
reason to give it a break, there's ALWAYS next hour, or session.
For myself, I take a break and watch some TV, go out on some errands etc.
after every trade - win or loss. It really helps me.

Just when you think it can't get any better around here, this thread
moves to another level! Well done, everyone. This has got to be giving
Father Troll a warm fuzzy feeling.
Quoting subsecond
Nice - tried it. Nice indicator to switch subaccounts in OANDA from Buy to Sell. I made some Dollars already. Thanks for Your logical power...Heinz

PS. Which period do You use in 5sec frame? I took default 14.
I used the default settings only, but I use the Dania chart for the Parabolic SARs, not OANDA. And again I only enter when the SARs are pointing in the same direction in 1, 5, 10 and 15 minute charts.
here is an interesting study.

I would define my entries as a post stalled momentum entrance.
So after directional momemtum stalls, as soon as it begins again I enter.

exactly 15 sec after placing the trade it's almost always less than the spread if it continues to 10 pips. If it hasn't yet covered the spread after 15 sec most of the time it hits my stoploss.

Perhaps I'm being to scientific for the rainbow style of trading but I don't do so well with the artistic "gut feel" trading.
Quoting >Apocalypto<
Hey Tayser, are you still posting over at ASF? (if you're the tayser I think you are)

Yeh I have been looking at the longer term moves as well, pyramiding on to them in smaller lots. 5 sec time frame does not leave much room for error nd things happen dame fast.

cheers
Yeah I still browse over there, but as the Forex section is quite literally dead, not much time is spent there!

Not enough Australians play around with Forex!
Quoting FXSurfer
It's a real benefit of this very short TF method. If you decide for whatever
reason to give it a break, there's ALWAYS next hour, or session.
For myself, I take a break and watch some TV, go out on some errands etc.
after every trade - win or loss. It really helps me.

Just when you think it can't get any better around here, this thread
moves to another level! Well done, everyone. This has got to be giving
Father Troll a warm fuzzy feeling.
Yes...I took a break after the (countless- my fault; overtraded and frustrated entries) losses. Traded again 2 hours back, moved to the conservative strategy, and have been profitable as E/J was not so choppy.

I moved back to the orginal rainbow from the e-book on 5 sec, like Trollman suggested. (sometimes I just cannot make up my mind...spinning around and around...)
Quoting Yuppie
Hey atomz, thank you...

Yeah, I did start, at the very beginning, with pure Rainbow... Then quickly took up Pivots as the action of price around these [pre-calculated] levels is too obvious to ignore... I also took note of ***.50 and ***.30 levels as well... It's all about the exits...
I am afraid I have to diagree here atomz... I have thought a lot about this and... The Rainbow particularly lends itself to very basic entries and [depending on your comfort-level] exits... Although the Rainbow is a framework, and not a method in itself, from my limited experience, there is not much scope for a variety of entries if you are trading high-probability setups...
Magnus
Well, we had recently days with nice moves, daily range above average. I could just have been lucky. It is too preliminary for me to make any conclusion. I am just learning and finding my way.
okay guys, from my old style i had learned that me as european have to get the best moves at following times

7.00 a.m.-11.00 a.m. GMT Opening European Session (trendbuilder)

1.30p.m - 2.30 p.m. GMT After Lunch Europe & US Opening Bell

4.30p.m. - 6.30 p.m. GMT European Close (Closing many positions)

8.00p.m. - 10.00 p.m. GMT US Ending session

Also i watch the DOW and Nikkei what they have down, the yen moves very similar with it, because i'm european i have to trade in euro at the moment efx cannot give me a euro account, so i will look closer to the USD/JPY, lower commissions and also some good moves, 3-5 pips already madeable


Sorry for 5 min chart but have not enough back data for 5 seconds
Attached Image (click to enlarge)
Click to Enlarge Name: PIVOTS USD JPY.png Size: 104 KB
Quoting Iqtrading
Maybe it helps, i have plotted BBands to the price and a 365 SMA, don't ask me why 365 it helps me to identify potential of the scalp... i don't want to overtune the system from LT, but for me it is better to see if price is in down channel from BB or up Channel gave me more opportunities and a faster view of risk management

just my 2 cents
Can you tell us what settings you used on the Bolinger Bands. Thanks
Quoting rabi35
Can you tell us what settings you used on the Bolinger Bands. Thanks
180 or 250 which suits better...
Quoting Iqtrading
180 or 250 which suits better...
Thanks. I like the 180 better. I like the BB signal because I think the rainbow technique exploits the volatility and what better way to confirm it then through BB indicator. Thanks again.

Rabi
Quoting linuxtroll
-You are done for the day within 30-60min
Took < 3 min. to get 6 pips on London open.


Quoting linuxtroll
* Lessened exposure limits risk - A brief exposure to the market diminishes the probability of running into an adverse event.
Actual trade time about 30 seconds.

Quoting FXSurfer
Took < 3 min. to get 6 pips on London open.




Actual trade time about 30 seconds.

easy going
Quoting FiboFan
But when are those consistent and reliable times? It seems that everyday there is a different time when conditions are optimal.
To my supprise sometimes that is in the middle of the afternoon or 3pm EST. Then other days the market is completely flat during that time.

I think a lot of it depends on the news that is released that day. Sometimes the market is flat till the release. Then days with no news it will slowly drift in a long trend for hours.
It seems watching the market all day looking for that trend is the best way to find it, however, the temptation to get in the market at every jump hoping it turns in to a trend is overwhelming.
I'm a few days behind reading this thread... so my apologies if someone else already said this...

but well 3pm to 3:30pm EST is one of those predictable times. End of New York.
2 traders viewing now