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Scalping the Rainbow

  • #341
  • Aug 25, 2008 3:03am Aug 25, 2008 3:03am
Quoting sf0d
Its called a daily chart, you really don't need a stop loss when you can analyze the daily chart and conclude that there is downward trend if your selling or a upward trend if your buying.
And your analysis is never wrong ? The trend will never break ? And unexpected event will never occur ?
  • #342
  • Aug 25, 2008 5:00am Aug 25, 2008 5:00am
Quoting Maverick731
exactly what I'm saying

and also its best to be subjective, you did not have a 100% win rate friday, you need to count those Break Even trades... do not start lying to yourself.

Thats basicly like holding onto the trade in hopes it'll reverse, the first thing you learn not to do.

You should atleast place a stop slighting above the previous high, because one day with a spike caused by the BIGGER MOVERS THAN YOU will cause a day or more of profits to go out the window.

Its a great developing sys/method don't get me wrong but it looks like you are starting to walking into a pitfall.
?.
  • #343
  • Aug 25, 2008 6:34am Aug 25, 2008 6:34am
psychology is never wrong
  • #344
  • Aug 25, 2008 7:22am Aug 25, 2008 7:22am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Maverick731
exactly what I'm saying

and also its best to be subjective, you did not have a 100% win rate friday, you need to count those Break Even trades... do not start lying to yourself.

Thats basicly like holding onto the trade in hopes it'll reverse, the first thing you learn not to do.

You should atleast place a stop slighting above the previous high, because one day with a spike caused by the BIGGER MOVERS THAN YOU will cause a day or more of profits to go out the window.

Its a great developing sys/method don't get me wrong but it looks like you are starting to walking into a pitfall.
For me was a 100%, a break even is a win, acording to the principle that say "don't ever let a winning trade to become a loser", so if it's not a loser is a winer, but I didn't count those trades as wins. So how you would count them in a win/lose ratio wich anyway doesn't mater because I can make money with a 50% sys or lose money with a 90%?

When I was a rookie I use to think like you...traders that know what they are doing are not using SL, that's why they are the 5% that take all the money.

This traders are so confident, that they don't need a SL.... that comes after many, many years of experience, I put a SL mainly for the case of technical failure. I placed a SL in this systems for you guys.
I was holding to the trade not because I was hoping, but because I knew it will reverse. I made a fortune buing when the market was going down and piramiding, years ago, in comodities...can you do that?
I also made a sys that is risk free...when you will do that you can give me advice
I don't recomend to anybody to trade without a SL until you are in the 5%, after you make lots of money every year for a few years
Also a day of profits going out the window doesn't mean anything to me, losing is part of trading, same as death is part of life...if you can't take a loss you are in trouble, you are not prepared to trade...the profits in the long run is what it matters
Each trader develops his own trading style acording to his personality, principles and priorities, and if my style doesn't fit you, please don't folow it.
I used to be a professional gambler, I'm a calculated risk taker, but i didn't implement that in this systems, i tried to make it as safe as posible, because i knew a lot of rookies and free lunch people will read this.
That doesn't bother me, i do this to help, I don't need this sys, I can make a sys every other week and all make money
"Money is only a part of wealth" Q.
  • #345
  • Aug 25, 2008 7:27am Aug 25, 2008 7:27am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Think.....
The difference between Edison and Tesla is that Edison was an inventor and Tesla was a more than that, a discoverer, one that deared to go where no man has gone before, and was pulled back by people with limited minds. Tesla gave us 700 patents, he was first to harness Niagra Falls, gave us the radio and wireless comunication, the AC current, the AC motor, the bladeless turbine, the particle beam, sending power without wires and tapping into the free energy around us. When he did that he was shut down by J P Morgan, because was no money in giving people free energy. Now the science went back to his ideas and they have lasers and all kinds of particle beam aplications, they can change the wheather and tap into the free energy in the ionosfere. Soon your cell phone will be charged without wires and there is already a wireless desk lamp in production. See, Tesla was a man ahead of his time, same as Leonardo, Columbus, Jules Verne and many others that where risk takers and saw into the future. I will call that divine inspiration for some of you to understand. In my book it is called the gift of prophecy. That eliminates risk, because you get the future from the source, God, and you can get confirmations from calculations or signs. If you have God on your side in anything you do, I mean good things, you will have success in that, but the credit goes to HIM.
ie... if you trade to use the money for your little selfish life or a bad porpose, you will lose in the final, not necesarily money, maybe something more important, your health, your family....etc....or your soul....you will find out when your body will die. You heard about Howard Hughes, the billionaire, the founder of hell's angels?
We can see rejecting God results all over history, all empires fell, comunism fell and now the western societies are falling.
9/11 was evil, about 3000 people got killed, but the doctors are killing 4000 children every day. Who are the biggest terorrists? All terror comes from evil, and the way to fight that is not military, force, more violence and more evil, fighting evil with evil just gives more power to the evil and amplifies it.
You will see the results in the future.
"Money is only a part of wealth" Q.
  • #346
  • Edited 8:30am Aug 25, 2008 7:30am | Edited 8:30am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Maverick731
psychology is never wrong
Never say never, absoluts doesn't exist in this world
Trust me, I know the footprints of the dark side of the force, I'm from Transylvania
So you are playing mind games with me?
"Money is only a part of wealth" Q.
  • #347
  • Aug 25, 2008 7:33am Aug 25, 2008 7:33am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Currywurst
And your analysis is never wrong ? The trend will never break ? And unexpected event will never occur ?
Your right, but those are exeptions to the rule, you get signs before that hapens, and if you are still taking a loss, it is part of trading, those are rare cases, in the long run the wins are far more than loses
"Money is only a part of wealth" Q.
  • #348
  • Aug 25, 2008 9:28am Aug 25, 2008 9:28am
mental stops are fione just make sure you can execute them fast enough.

There are alot of pro traders out there that I know would disagree with the way you count BE's. Because a BE is basicly getting the direction wrong or not exiting when momentum is lost or turns
  • #349
  • Aug 25, 2008 10:47am Aug 25, 2008 10:47am
Quoting 4xq
This is the real deal, we made it here and it is better than cyrox
Do you think we don't know about cyrox?
Throw away your indicators and look at price action on the rainbow 5 second chart. The original cyrox can't be betttered. Pure price action. The secret is screen time that's all. It's not rocket science.
  • #350
  • Aug 25, 2008 12:18pm Aug 25, 2008 12:18pm
Quoting Maverick731
mental stops are fione just make sure you can execute them fast enough.

There are alot of pro traders out there that I know would disagree with the way you count BE's. Because a BE is basicly getting the direction wrong or not exiting when momentum is lost or turns
. I KNOW 4Xq has a lot of stuffs, so pls allow him to build this system just the way he wants to and the way GOD has directed him to do by helping we the rookies. 4xq, pls don't be discourage right. am about getting it, so pls continue the good work and my GOD has bless u already. Thanks for the good work. Nerry.
  • #351
  • Aug 25, 2008 1:57pm Aug 25, 2008 1:57pm
I'm not trying to discourage him at all, I like his system/method

What I don't like is his MM but thats diff for everyone.

He is more experienced than me I admit that fully, But you can easily spot bad MM, w/e works for you tho every one has different way to get into and out of the market
  • #352
  • Aug 25, 2008 4:11pm Aug 25, 2008 4:11pm
Quoting SlushFund
Throw away your indicators and look at price action on the rainbow 5 second chart. The original cyrox can't be betttered. Pure price action. The secret is screen time that's all. It's not rocket science.
Try 1 second though
  • #353
  • Aug 25, 2008 9:27pm Aug 25, 2008 9:27pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Maverick731
mental stops are fione just make sure you can execute them fast enough.

There are alot of pro traders out there that I know would disagree with the way you count BE's. Because a BE is basicly getting the direction wrong or not exiting when momentum is lost or turns
I didn't say anything about mental stops, where did u get that?
I'm a very slow and calculated person, I can't use mental stops. Like i said, BE doesn't matter for me anyway, I can make money with a 50% wins sys.
BE for me is just not making the target or like u say, not exiting at the right moment, because a trader somethimes has to pee , or cook breakfast, have a shower, do laundry, read a book, watch a movieor, even eat somethimes. that's how I trade, doing other things in the mean time, I get very bored very fast if not.
Don't do this at home
So you didn't onor me with answers...how do you count BE's? and do you play mind games here?
"Money is only a part of wealth" Q.
  • #354
  • Edited 11:06pm Aug 25, 2008 9:37pm | Edited 11:06pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting svlad1983
Yeah I also use FXDD
but which time you start and end your session, meaning which are ebtter trading times? or there is no limit?
For me are the times with volatility, usually couple of hours before NY open, after open, after news and until about lunch, when I see the rainbow going thin. If I'm not making my goal of 100 pips/day i may continue after lunch. Somethimes I can get a few trades in the evening too, counting those as for next day because are part of the new trading day that starts at 5PM EST
"Money is only a part of wealth" Q.
  • #355
  • Aug 25, 2008 10:01pm Aug 25, 2008 10:01pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting SlushFund
Throw away your indicators and look at price action on the rainbow 5 second chart. The original cyrox can't be betttered. Pure price action. The secret is screen time that's all. It's not rocket science.
Nobody said we improved cyrox. Here are two 1min systems, one is scalping for 10-12 pip and the other is trading for more pips.
5 sec and 1 sec just doesn't fit my personality, it is too fast for me and probably for others too, it is not for everyone, not everybody is young and superman That went trough your brain by chance?
I also prefer to trade relaxed and to have a good time
I am wondering if somebody can tell me if cyrox traders can make 100 pips minimum in a 4-5 hour session or minimum 500 pips a week trading 4-5 hours a day. I'd realy like to know....pure curiosity...thanx
"Money is only a part of wealth" Q.
  • #356
  • Aug 25, 2008 10:06pm Aug 25, 2008 10:06pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Currywurst
That sounds very dangerous. There will be the day when you won't be right. And it's gonna hurt.
you're right, it is very dangerous for people who don't know God...I didn't say I was right, I said HE was right ...big difference
"Money is only a part of wealth" Q.
  • #357
  • Aug 25, 2008 10:15pm Aug 25, 2008 10:15pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting sf0d
Its called a daily chart, you really don't need a stop loss when you can analyze the daily chart and conclude that there is downward trend if your selling or a upward trend if your buying.
Thank you, finally somebody agree with me....
a wise thing: if one can trade without SL, it is wise to have one far back and on the broker's sever, just in case of technical failure....ie...no connection, no power, PC blows up.....
"Money is only a part of wealth" Q.
  • #358
  • Aug 25, 2008 10:20pm Aug 25, 2008 10:20pm
Quoting 4xq
Nobody said we improved cyrox. Here are two 1min systems, one is scalping for 10-12 pip and the other is trading for more pips.
5 sec and 1 sec just doesn't fit my personality
You can trade the rainbow on the 1 minute or 5 minute chart just as you would on the 5 sec. When I trade the M1 I only trade in the direction of the M5. When trading the 5 sec it's in the direction of the 30 sec. A good system works on any timeframe.
  • #359
  • Aug 25, 2008 10:26pm Aug 25, 2008 10:26pm
Quoting sf0d
Its called a daily chart, you really don't need a stop loss when you can analyze the daily chart and conclude that there is downward trend if your selling or a upward trend if your buying.
A daily chart is not relevant when you are scalping. Just look for an obvious S/R level on the M1 chart and place the stop a few pips away from it.
  • #360
  • Aug 25, 2008 10:59pm Aug 25, 2008 10:59pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting NerryE
. I KNOW 4Xq has a lot of stuffs, so pls allow him to build this system just the way he wants to and the way GOD has directed him to do by helping we the rookies. 4xq, pls don't be discourage right. am about getting it, so pls continue the good work and my GOD has bless u already. Thanks for the good work. Nerry.
You're welcome...don't worry Nerry, I actualy enjoy a good chalenge, where I come from, healthy arguing is a way of life, that's how we improve things. I miss that here in the west. I'm used to all kinds of attacks, mostly spiritual, because the batlle is ultimately spiritual, the esence of all things
The dark forces can take over a person completly or partialy, and in most cases is not the persons fault, and he is totally unaware of that, because he can't make the difference between his thoughts and the flow of thoughts that comes from somewhere else. Did you ever heard people saying...I don't know why I did that....said that....?
Back to our sys here, the key of anything is to build on solid fundation...that will last and stand against the blows...solid principles, part spiritual, part specific to the aplication you develop. that's how I do it, may be a better way, but this is how it works for me so far.
I repeat...I'm not saying to follow my sys to the letter...I know we are all different and I think one has to adapt a sys to his own personality, style, confort zone....in THE ZONE and then stay there.
"Money is only a part of wealth" Q.
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