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Scalping the Rainbow

  • #201
  • Aug 15, 2008 2:30pm Aug 15, 2008 2:30pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting majorforex
Think about it. If you can generate 4 losses and 0 wins, that needs to be studied too. By just trading in the opposite direction you will have 4 wins and 0 losses. I say this in jest, but seriously, look closly at what you did, when you did it, and what the charts looked like. There may be something there which will help you turn it around!
I did that years ago, and it worked
"Money is only a part of wealth" Q.
  • #202
  • Aug 15, 2008 2:43pm Aug 15, 2008 2:43pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Kesako
that sounds fun trying the opposite )

to be honest i used to think about it when i get angry against myself !!!

thanks your are right there is
probably something to learn on .

by the way ,why the 5 min chart with the wma 12 as been abandoned ?
it seems that the " snake head passing method " was'nt that useless ..
regards
It is not abandoned yet...but u see the trend on the 1m rainbow...lately I use 5m it to get pivots, swing levels from there, just trying different things. I'll post new rules this weekend
"Money is only a part of wealth" Q.
  • #203
  • Aug 15, 2008 2:49pm Aug 15, 2008 2:49pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting incredifx
I'm just halfway through this thread and tested a number of trades with good result (of course in demo platform).
Hope, can do consistently in the next few days/weeks...
Thanks for posting inc..Looks good. I see u took more than one position at the same time on the same pair. there are many entry points along, I was thinking that I'll do that later, when all rules are clear and working fine.... U had a big SL or no SL?...the market was swinging a lot...what time zone r u in? we had news at 9am and 10 am, I was on the bench for a long time today
"Money is only a part of wealth" Q.
  • #204
  • Aug 15, 2008 3:06pm Aug 15, 2008 3:06pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Kesako
hi everyone
firstable thanks all for sharing with newbies like me : )

i read whole that interresting thread

the succes you obtained makes me jalous so i wanted to try it also
as it looks easy ......

but so for me it was bad testing 4 losses 0 gain : (((
i think i misunderstood something about getting the good entry signal.
and maybe about the SL : it's 12 right ?

and there 's a lot of false signal that i am unable to see .especially on eu/us
so maybe that pair isn't the best for now ?

so the last point you where talking about " time /pivot " seems to be crutial to avoid false entry !

i am also a beginner with MT4 i am acctually using it for the first time just for triyng your system.

so i have also no idea about what these ".ex4" files are made for ; (
i just discovered yesterday how to use the .mg4 ones !!

thanks again
SL is 20 + spread lately, no wonder u got stoped out
Try this: pick a time with volatility, wait after open and news for the rainbow to pick a dir...that should be the same dir as the 5m trend...don't enter right when price ceosses purple....wait for price (thin white line)to go back at least in the yellow...when comes back out from red, wait for the price to break tha previous peak and close there (1m chart)...put a SL at 20 + spread
Exit at TP 10....that's the wolf...bite and get back...let me know how it is working
The second sys that we have here, the lion, it has same entries, but is more complicated for the exits
I use the time pivots only for exits of the lion sys
.ex4 are actually the files that the computer use in MT4 for scripts, EA's, indicators....mq4 are the code files we humans understand and when u load it and hit compile in the editor, it generates a .ex4 file, so the pc undestand it
"Money is only a part of wealth" Q.
  • #205
  • Aug 15, 2008 4:01pm Aug 15, 2008 4:01pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Thu was 7/2...119pips
I only made a few trades today, as it is fri and we had news at 9 and 10...after lunch I was busy with something else...score 4/1...63pips
I tried different things today, I ploted fibs, pivots and real pivots from the 5m
i tried one on the yen in the morning, but i got out right away...I didn't like it...the yen was flat today for me
Legend: horizontal lines...green=past pivots(swing levels from the 5m)...colored thin lines=calculate pivots(pivots indy)....thick doted=fib levels
vertical...white=open...red=time pivots
I think all horisontal work for entries, when one gets broken after re-emerge
I made a bad one in eur, i had the good entry, but the midle fib was broken just one pip...maybe not enough...than went back and broke 0 and trend line on the cci...that was exit for me, but I let it run to see what will hapen....tradeManager got me out at stop...I was right about exit
Have a nice weekend guys
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10 aug15.2008.eur.gif Size: 75 KB
Click to Enlarge Name: 10 aug15.2008.gbp.gif Size: 81 KB
"Money is only a part of wealth" Q.
  • #206
  • Aug 15, 2008 4:24pm Aug 15, 2008 4:24pm
Hello 4xq i`m very curious how many pips you make with this system and what is it`s accuracy till now and do you trade it live thanks a lot
  • #207
  • Aug 15, 2008 5:20pm Aug 15, 2008 5:20pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting teodosy87
Hello 4xq i`m very curious how many pips you make with this system and what is it`s accuracy till now and do you trade it live thanks a lot
Last week was almost 500pips, this week 553 pips....about accuracy...last week results are posted, this week is 37/6 = 86% for me...very bad, but that doesn't mean anything, with bad risk and money management you can lose money even with this ratio....ie 37 wins of 10pip and 6 loses of 70 pip = lost money
You can't say "this system" yet as every day I tried different things...it is in construction...actually there are at least two systems from me here...try to read the thread
"Money is only a part of wealth" Q.
  • #208
  • Aug 15, 2008 8:51pm Aug 15, 2008 8:51pm
Quoting 4xq
Thanks for posting inc..Looks good. I see u took more than one position at the same time on the same pair. there are many entry points along, I was thinking that I'll do that later, when all rules are clear and working fine.... U had a big SL or no SL?...the market was swinging a lot...what time zone r u in? we had news at 9am and 10 am, I was on the bench for a long time today
4xq,

my timezone is GMT+8.
I was putting trades along reading your post and the winning so far was purely beginner luck. As for the SL I put it above the white line and this could be more than 20 pips. So it was a beginner luck to follow 5 min timeframe trend and it just works.

I traded the cyrox for 1 week on 1 second timeframe. To me it was too exhausting and require high level concentration. Probably I haven't mastered it or the method just not suitable for me.

With your 1 min timeframe, it's just right for me, to relax a little bit, but also not too long for less patient person like me

So I would say, this 1 min trading TF is fantastic for me.
  • #209
  • Aug 15, 2008 8:53pm Aug 15, 2008 8:53pm
Quoting 4xq
It is not abandoned yet...but u see the trend on the 1m rainbow...lately I use 5m it to get pivots, swing levels from there, just trying different things. I'll post new rules this weekend
4xq,

I would love to see your rules this weekend
Schoenes Wochenende
  • #210
  • Aug 16, 2008 1:37am Aug 16, 2008 1:37am
Hi 4xq,
how to use your trade manager?
I put that inside the indicators folder and then I try to insert trade manager into the chart but nothing appears on the chart.

tx.
  • #211
  • Aug 16, 2008 2:12am Aug 16, 2008 2:12am
Quoting incredifx
Hi 4xq,
how to use your trade manager?
I put that inside the indicators folder and then I try to insert trade manager into the chart but nothing appears on the chart.

tx.
Hmmm. I think it's a script.
Try it in script folder.
  • #212
  • Edited 4:27am Aug 16, 2008 3:17am | Edited 4:27am
Quoting 4xq
SL is 20 + spread lately, no wonder u got stoped out
Try this: pick a time with volatility, wait after open and news for the rainbow to pick a dir...that should be the same dir as the 5m trend...don't enter right when price ceosses purple....wait for price (thin white line)to go back at least in the yellow...when comes back out from red, wait for the price to break tha previous peak and close there (1m chart)...put a SL at 20 + spread
Exit at TP 10....that's the wolf...bite and get back...let me know how it is working
The second sys that we have here, the lion, it has same entries, but is more complicated for the exits
I use the time pivots only for exits of the lion sys
.ex4 are actually the files that the computer use in MT4 for scripts, EA's, indicators....mq4 are the code files we humans understand and when u load it and hit compile in the editor, it generates a .ex4 file, so the pc undestand it
that's really nice spending time to explain people how to get money !!!!
i ll try it next week and i ll tell you .

i have also noticed that most of the time when prices on 5 min chart cross the wma line (when trend changes on rainbow )you can get your 10 pips in the opposite direction . dont know if its safe but maybe it could be interesting to reverse a bad trade with an order placed above/under that line or .maybe it s just a stupid idea
  • #213
  • Aug 16, 2008 4:59am Aug 16, 2008 4:59am
Quoting madscalp
Hmmm. I think it's a script.
Try it in script folder.
thanks..

so after moving to script folder, how do I attach it to the chart? I can't find anything to attach any script.

thanks.
  • #214
  • Aug 16, 2008 6:03am Aug 16, 2008 6:03am
Quoting incredifx
thanks..

so after moving to script folder, how do I attach it to the chart? I can't find anything to attach any script.

thanks.
Ooooooops sorry it's in expert folder then right click.
  • #215
  • Aug 16, 2008 6:35am Aug 16, 2008 6:35am
but I still haven't found way to attach that script after moving to expert folder.
It doesn't work like indicator in which I can just add into the chart.
  • #216
  • Aug 16, 2008 7:56am Aug 16, 2008 7:56am
Hi 4xq,

I just found this thread and have been skimming through. A year or two ago I tried learning the rainbow the lunix troll method. Very hard, especially when most people there treat you like " just pick-up on it and make it work" or your dumb. Thanks for the time taken to explain more in detail.
I have two cents to throw out here. Wondering if someone could put an alert in the programming of this indicator "super signal". Would help with trading on higher TF's than 5M.

Thanks for your time put into this.

fxst
Attached File(s)
File Type: mq4 super signals.mq4   1 KB | 653 downloads
  • #217
  • Aug 16, 2008 6:07pm Aug 16, 2008 6:07pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting incredifx
Hi 4xq,
how to use your trade manager?
I put that inside the indicators folder and then I try to insert trade manager into the chart but nothing appears on the chart.

tx.
It's an EA, drag & drop it in the chart
"Money is only a part of wealth" Q.
  • #218
  • Aug 16, 2008 6:16pm Aug 16, 2008 6:16pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting incredifx
but I still haven't found way to attach that script after moving to expert folder.
It doesn't work like indicator in which I can just add into the chart.
Try 2 download again. check if the file u saved is the same size as the file posted...i had problems like this...the download is not complete and u get a corupt file (not the full file)
"Money is only a part of wealth" Q.
  • #219
  • Aug 16, 2008 6:25pm Aug 16, 2008 6:25pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting incredifx
With your 1 min timeframe, it's just right for me, to relax a little bit, but also not too long for less patient person like me
.
Same here, and with 3 pairs at the same time I don't get bored
"Money is only a part of wealth" Q.
  • #220
  • Aug 16, 2008 6:35pm Aug 16, 2008 6:35pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting fxstman
Thanks for your time put into this.
fxst
Thanks and apreciate...I'll look at the indy
"Money is only a part of wealth" Q.
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