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The Rainbow Room

  • #61
  • Nov 17, 2007 11:14am Nov 17, 2007 11:14am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting FXSurfer
Howdy Magnus
Great looking Custom Stochastic!

Brent

Hey Brent...

Thank you... I am currently, as of the last few days, pausing for some reflection of what I am doing...

I am asking myself [as well as others asking me!] if I am overcomplicating this... I was initially looking for something simple that would help me see the bigger picture... i.e. more consistency, etc.. as I found, as many others I see in LTs thread are also finding, there are great days 200+ pips for everyone... and then there are days where people report almost all losing trades for the day [ok, this is a bit of a generalisation, but I'm sure you know what I mean ]...

I have been discussing the Rainbow with a few people who are [successfully] implementing it... They seem to have personally added something to it to work for them... This furthers my belief that the Rainbow is a [skeleton] framework... Ok, there are some who have not...

BUT...

How consistent are they?
How does a "bad emotional day" affect their profits?
How much do they think they are using the Rainbow, when they are really using [sub-conscious] experience of price, etc.?

[These are just some of the thoughts that have been going through my head lately... :]


Cheers,

Magnus
  • #62
  • Nov 18, 2007 4:48am Nov 18, 2007 4:48am
Hi Magnus,
I have just read through your thread and find that you are appraoching this much as I do. ( I am a real LURKER here )
Firstly I am sorry if I missed it but what time zone is your Platform set to?
I like you take a lot of trades referencing Pivots and Sweet Spots ie Wholes and Halves 130.00 or 130.50 etc etc I find great value in picking off reactions at these levels using Heiken Ashi Candles looking for a Flat Top for Shorts and Flat Bottom for longs anytime I see Wicks at Both ends I sit on my hands, you will notice if you look that virtually anytime you see candles like that you assured of some pips almost every time.
I am no Expert!!!!!!!!!!!!!
I am still coming to grips with all of the same issues as you but am surprised how well LTs method fits in with my personality and that after nearly 3 years on and off at this that I am finally making progress.
Keep up the great work and I will post a chart here of what I mean about HA Candles. I hope they may help you as your ideas and posts are helping me.
Cheers from Oz.
Patience and fortitude conquer all things. Ralph Waldo Emerson
  • #63
  • Nov 18, 2007 4:56am Nov 18, 2007 4:56am
Quoting DrainBamage
Hi Magnus!

Thats exactly what is happening to me lately! I am usually very successfull on the London opening (as LT recommended) and add 2-5% to my account easy enough, but then I keep trading and over day (especially after London close) I lose all my profits. So I am going to just force myself and keep away from computer after 2 hours of trading and doesnt matter what big moves will I miss next.
I do also as I can't stay focused on a 5sec chart for hours and also end up overtrading, London Open Tokyo Close and then sit and watch usually seeing a 200 pip move that I as per normal did not trade.
Patience and fortitude conquer all things. Ralph Waldo Emerson
  • #64
  • Nov 18, 2007 7:31am Nov 18, 2007 7:31am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting mach.25
Hi Magnus,
I have just read through your thread and find that you are appraoching this much as I do. ( I am a real LURKER here )
Firstly I am sorry if I missed it but what time zone is your Platform set to?
I like you take a lot of trades referencing Pivots and Sweet Spots ie Wholes and Halves 130.00 or 130.50 etc etc I find great value in picking off reactions at these levels using Heiken Ashi Candles looking for a Flat Top for Shorts and Flat Bottom for longs anytime I see Wicks at Both ends I sit on my hands, you will notice if you look that virtually anytime you see candles like that you assured of some pips almost every time.
I am no Expert!!!!!!!!!!!!!
I am still coming to grips with all of the same issues as you but am surprised how well LTs method fits in with my personality and that after nearly 3 years on and off at this that I am finally making progress.
Keep up the great work and I will post a chart here of what I mean about HA Candles. I hope they may help you as your ideas and posts are helping me.
Cheers from Oz.

Always great when a lurker ventures out of the shadows... ...

The OandA platform is GMT and MT4 platform is GMT+2.


I am very interested in how you approach this - especially with the HA candles... I have to admit that I have not studied them... I know about them vaguely... But, if you can pique my interest with some interesting screenshots you never know where it could lead... ...

Actually, I am going to check out some HA-material today... In anticipation of you 'shots... I want to be able to keep up to speed with your thoughts... :...


Thanks for posting Oz-dude,

Magnus
  • #65
  • Nov 20, 2007 8:09am Nov 20, 2007 8:09am
can anyone teach me how to load the rainbow template to MT4
  • #66
  • Nov 20, 2007 10:37am Nov 20, 2007 10:37am
Quoting ajilah
can anyone teach me how to load the rainbow template to MT4
Step #1: Download and save the .tpl file in the Templates folder in your MT4 platform folder. This is normally found in your "Program Files" folder. If you do not have the file I have attached it to this post.

Step #2: Once you have saved the .tpl file in the "Templates" folder, right click on a chart in your MT4 platform. Hover over "Template" which will provide you a drop down list, and select the Rainbow template.

Let me know if that works, or if you require any additional assistance!

Glen
Attached File(s)
File Type: tpl CryoxMMA.tpl   10 KB | 727 downloads
  • #67
  • Nov 20, 2007 10:41am Nov 20, 2007 10:41am
Magnus!

Pips?

Good stuff my friend! The way you approach trading, and the development of your trading skills and strategies, is a great example to me! I have learned a lot from you so far and look forward to continuing to learn with you!!

My hope is that you will start flooding the Rainbow Room with lots of live trades you take, and lots of your great in depth analysis.

Glen
  • #68
  • Nov 20, 2007 10:55am Nov 20, 2007 10:55am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting prosperfx
Magnus!

Pips?

Good stuff my friend! The way you approach trading, and the development of your trading skills and strategies, is a great example to me! I have learned a lot from you so far and look forward to continuing to learn with you!!

My hope is that you will start flooding the Rainbow Room with lots of live trades you take, and lots of your great in depth analysis.

Glen

Thank you Glen... Likewise... ... LOL...

I did not plan to trade today at all... Did take one trade for +12 pips though... Still on a minor-social-sabatical... :...

But yep, once I am settled again I will try and keep up the posting...

Thanks for answering ajilah's question. Appreciated.


Magnus
  • #69
  • Nov 20, 2007 4:42pm Nov 20, 2007 4:42pm
Quoting Yuppie
Still on a minor-social-sabatical... :...
I love those! LOL
  • #70
  • Last Post: Nov 20, 2007 5:42pm Nov 20, 2007 5:42pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting FXSurfer
I love those! LOL
You know it... You try to fight it.. going, 'Think of the pips, think of the pips'...

... but it gets you in the end... :
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