looks wonderful
but i don't quite get it.
but i don't quite get it.
- #42
- Aug 6, 2008 12:16pm Aug 6, 2008 12:16pm
Masilva, you're right about 2% profit too. For an SL10 can lower the risk at 2% and profit is still 2%. That may had worked today on eur and jap, as was a nice trend with no big pullbacks....or for SL10 4% risk, profit is 4% per trade...that would had made double the money. That is the miracle of money management.
"Money is only a part of wealth"
Q.
- #46
- Aug 6, 2008 5:59pm Aug 6, 2008 5:59pm
Hey Q,
Since you're using line chart it doesn't show the High & Lows of the 1min bars, so, do you wait for the close of the current bar to verify it closed above the last pick (S/R line)? or you enter as soon as the pick is penetrated ?
This obviously change the backtesting & forwardtesting of your strategy.
thanks in advance
on the other side of the s/r line, but before, when the line came out of the colors I use to wait for the 1min close. This is still in developement, so we have to find out wich way is better. Any thoughts on that?
"Money is only a part of wealth"
Q.
- #49
- Aug 6, 2008 6:18pm Aug 6, 2008 6:18pm
Two Comments:
Check the "Chart on Foreground" box in options. This will put your line chart on top of the MA's and make it more readable
Also,
If you Really want to use metatrader for this (most cyrox folk use Ninja Trader and go on 1 sec time frame) then Ikon Royal is best.
Ikon has 1 pip spread for e/u and 2 for e/j Check it out. It really matters when you are scalping the rainbow.
Mike
, so is very fast. I just use it for demo.1 pip is great...I was searching for one ....I'll look at Ikon Royal
Thanks again,
Dan
"Money is only a part of wealth"
Q.
- #58
- Aug 7, 2008 2:55pm Aug 7, 2008 2:55pm
Hi ya'll, I'm back.
Today as u see was another good day for the rainbow sys....in the morning 8:30 news pushed the $ up in a nice trend with the eur leading the pack,,,then the news at 10 did it again.
I tried today a different approach, not scalping but riding the trend...not the wolf, but the lion...also used an EA that manades positions, with stepping stops...made a bad trade with the pound, as i took positions around 11:30, very close to lunch time..and a break even in yen again...I took an early signal and I got stopped out by a large pullback in GBP...my bad
OK, now to differentiate this two systems that we have here I'll call them:
- XP1 Wolfenstein (rock of the wolf) for the scalping and
- XP2 LionKing for the one raiding the trend
the kids will love that, soon we'll have a whole zoo
Today as u see was another good day for the rainbow sys.
...in the morning 8:30 news pushed the $ up in a nice trend with the eur leading the pack,,,then the news at 10 did it again.I tried today a different approach, not scalping but riding the trend...not the wolf, but the lion...also used an EA that manades positions, with stepping stops...made a bad trade with the pound, as i took positions around 11:30, very close to lunch time..and a break even in yen again...I took an early signal and I got stopped out by a large pullback in GBP...my bad
OK, now to differentiate this two systems that we have here I'll call them:
- XP1 Wolfenstein (rock of the wolf) for the scalping and
- XP2 LionKing for the one raiding the trend
the kids will love that, soon we'll have a whole zoo
"Money is only a part of wealth"
Q.
- #60
- Aug 7, 2008 3:39pm Aug 7, 2008 3:39pm
I didn't study the 5 min today...it's all in the rainbow...helps in the beginning to see the trend more clearly, but I'll posted anyway
OK, let's see....EUR 2/0...57+25 = 82pip, GBP1/1...49-20=19pip , JPY1/0...20pip
Total: 4/1 trades...80%....131 pips for the session
Happy trading, Q
OK, let's see....EUR 2/0...57+25 = 82pip, GBP1/1...49-20=19pip , JPY1/0...20pip
Total: 4/1 trades...80%....131 pips for the session
Happy trading, Q
"Money is only a part of wealth"
Q.