Scalping the Rainbow | Page 19 | Forex Factory

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Scalping the Rainbow

  • #361
  • Aug 25, 2008 11:02pm Aug 25, 2008 11:02pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting SlushFund
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.
Looks that you didn't read this tread, i said those things long time ago
"Money is only a part of wealth" Q.
  • #362
  • Aug 25, 2008 11:39pm Aug 25, 2008 11:39pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting fxRichard
Try 1 second though
Welcome back fxR...I have a few questions 4 u
Are you one of those people that sell cyrox or what is your motive to undermine somebody's else work that has nothing to do with your 1sec thing?
Why are u doing in this tread if your 1sec is so good?
What was the scrat thinking when he saw the mamut?
What do you think they did to spies in Transylvania in the 16-th century?
"Money is only a part of wealth" Q.
  • #363
  • Aug 25, 2008 11:46pm Aug 25, 2008 11:46pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting SlushFund
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.
We're not talking scalping here anymore, we evolved
You mean a stop loss or a stop limit?
"Money is only a part of wealth" Q.
  • #364
  • Aug 26, 2008 12:06am Aug 26, 2008 12:06am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting fxRichard
By downloading it...www.ninjatrader.com
NinjaTrader translates....PaidMurdererTrader....careful what you choose....names mean something many times
"Money is only a part of wealth" Q.
  • #365
  • Aug 26, 2008 12:27am Aug 26, 2008 12:27am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Maverick731
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
What do you mean by MM, M? A W I w/e ?
"Money is only a part of wealth" Q.
  • #366
  • Aug 26, 2008 3:46am Aug 26, 2008 3:46am
Quoting 4xq
What do you mean by MM, M? A W I w/e ?
MM stands for money managment, w/e stands for whatever.

That is about as far as I got on the rough translation.
  • #367
  • Aug 26, 2008 6:41am Aug 26, 2008 6:41am
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Verto
MM stands for money managment, w/e stands for whatever.

That is about as far as I got on the rough translation.
Thx, I presumed he mean money management, but I coudn't belive he says bad MM
"Money is only a part of wealth" Q.
  • #368
  • Aug 26, 2008 7:45am Aug 26, 2008 7:45am
I have read all the tread for the last days.
You system is closely to the one I am looking for as it is fast enough and I can control my gains and loses (hope not too many loses ).

I have a few points for you:
1. I totally agree with you about the spiritual issue. Take a look at the "The Moses code" movie. It will give you some insights. Have fun.
2. I am trading your system Wolfenstein v1.2, on small real account. I think if I trade (small money) then my actions are realistic. I had some loses and gains. I think it would be interesting to analyze the loses so we can learn.
Are you trading this system live?
3. Post 227 Wolfenstein v1.2 - what exactly do you mean "Entry: - Price re-emerge" can the price come from the other side or only puilbacks?
4. Post 227 Wolfenstein v1.2 - "at least a yellow dip" Do you enter if the price emerges from other colors?
5. SL - Did you change it down from 20?

Keep up the great work. It can only be admired.
  • #369
  • Aug 26, 2008 8:12am Aug 26, 2008 8:12am
Quoting fxRichard
I don't doubt 100 pips a day, it's not difficult with the rainbow especially on a higher timeframe like the 1 min/5min etc. The problem is in a lot of his trades you have some drawdown thus this eliminates the possibility of throwing big money at each trade. Personally I prefer the 20-30 pips at $1k a pip with next to 0 drawdown vs. 100 pips at $30 a pip (about equivalent for account size and MM being used).
If you don't sleep or have no life then ok maybe. but to average 100 pips a day 500 a week is a feat even the best funds would have trouble doing........ some days the market may not move 100 the daily range sure it's rare but they can happen.

sorry mate, until i see it i won't believe it.

I have seen the rainbow with it's new add on indicator. I like it but i don't use it. If you can make 10-30 with 10+ lots good on u well done.

cheers
  • #370
  • Aug 26, 2008 8:22am Aug 26, 2008 8:22am
fxRichard, if someone can get a 95+ % strike rate consistantly with the gain/loss ratio being even, I would be tempted to risk 5% of my account on each trade, at least until my account got to a very large size.

Is this what you mean by your high lot size that goes against standard MM practice?
  • #371
  • Aug 26, 2008 12:30pm Aug 26, 2008 12:30pm
I read this whole thread and am very impressed with the development. May someone please post the mq4 file for the actual wmma rainbow? Maybe I was looking right over it as I am fairly new to this forum but not trading. Thanks and God Bless.
Chance favors the prepared mind.
  • #372
  • Aug 26, 2008 1:05pm Aug 26, 2008 1:05pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting Maverick731
If you knew anything about cyrox you knwo it can't be resold, its copywrite infringment/stealing intellectual porperty.

I am not here to play mind games, God is a created figure, and I count BE's just as that, a tie, not a winner or a looser. But they do actually bring down win %, esp when the trade retracts and you just wait for BE..thats bad policy
I don't know anything about cyrox and I was thinking he is one of the makers of that, so he would have the rights to sell it.
If you're not plaiyng mind games what was that "psyhology never fails"?
If you count BE as a tie, you are not counting a win/lose ratio, a tie doesn't fit in a ratio like that.
My trade manager has a seting for BE, again, acording to the principle that you don't have "don't let a winning trade turn into a loss"
Actually I should count a BE as a win because it makes the spread....check mate...end of story
I will not tolerate your negative comments anymore, wich influents good people here, and if this is bad plicy, you are not welcome here anymore.
I will not post any of my trades and tests until you are still lurking around.
If God is a created figure this sys will not work for you and God help you.
"Money is only a part of wealth" Q.
  • #373
  • Aug 26, 2008 1:07pm Aug 26, 2008 1:07pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting iceman777
I read this whole thread and am very impressed with the development. May someone please post the mq4 file for the actual wmma rainbow? Maybe I was looking right over it as I am fairly new to this forum but not trading. Thanks and God Bless.
It is not a .mq4 file, it is a template .tpl file, at the beginning of tread
"Money is only a part of wealth" Q.
  • #374
  • Aug 26, 2008 1:17pm Aug 26, 2008 1:17pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting >Apocalypto<
I doubt you will ever average 100 pips a day or 500 pips a week. it's fine to aim for the sky but i think that's a little to high...... but who know u may one day...............................

hate to tell you i found Cyrox first as well. I have seen Guppy MA's but your rainbow looks a direct copy of what the rainbow scalpers use........

Good luck on 500 a week. I am happy at 10-20 a day.............
Read the tread mate, and the trades, this sys is aleady proven...made over 500 pips a week and every week and that in developement stage
I never claimed I invented the Rainbow, i only modified it
"Money is only a part of wealth" Q.
  • #375
  • Aug 26, 2008 1:28pm Aug 26, 2008 1:28pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting agisthos
fxRichard, if someone can get a 95+ % strike rate consistantly with the gain/loss ratio being even, I would be tempted to risk 5% of my account on each trade, at least until my account got to a very large size.

Is this what you mean by your high lot size that goes against standard MM practice?
He means he is risking a very large part of his acct compared to my 2-4%
"Money is only a part of wealth" Q.
  • #376
  • Aug 26, 2008 1:37pm Aug 26, 2008 1:37pm
4xq,

thanks for your contribution here.. just start adding to your ignore list so you can stay focused on your system. I'm a huge rainbow fan as well and I really like some of your insights. Keep posting your results and never let anyone take you off of your topic.

I Look forward to enjoying your thread.
USD Est Non Mortuus
  • #377
  • Aug 26, 2008 1:45pm Aug 26, 2008 1:45pm
I'm not doing anything against forums rules, I'm meerly stating my opinion on your MM.

If you look at your BE's alot of them take awhile to retrace and go up fairly high... They are your trades tho not mine.

I'm just trying to understand your system.

"God" has brought much good and evil to the world so I choose to leave "him/her/it" out of it and focus on better things such as working towards goals like making enough to buy my mom a new vehicle since the one she has been driving is close to 12 yrs old now and has alot of miles on it.

I enjoy your method but I don't like the MM thats all that I am saying
  • #378
  • Aug 26, 2008 1:52pm Aug 26, 2008 1:52pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting LuckyLurker
4xq,

thanks for your contribution here.. just start adding to your ignore list so you can stay focused on your system. I'm a huge rainbow fan as well and I really like some of your insights. Keep posting your results and never let anyone take you off of your topic.

I Look forward to enjoying your thread.
Thx, cool motto's
"Money is only a part of wealth" Q.
  • #379
  • Aug 26, 2008 2:23pm Aug 26, 2008 2:23pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting ady27
I have read all the tread for the last days.
You system is closely to the one I am looking for as it is fast enough and I can control my gains and loses (hope not too many loses ).

I have a few points for you:
1. I totally agree with you about the spiritual issue. Take a look at the "The Moses code" movie. It will give you some insights. Have fun.
2. I am trading your system Wolfenstein v1.2, on small real account. I think if I trade (small money) then my actions are realistic. I had some loses and gains. I think it would be interesting to analyze the loses so we can learn.
Are you trading this system live?
3. Post 227 Wolfenstein v1.2 - what exactly do you mean "Entry: - Price re-emerge" can the price come from the other side or only puilbacks?
4. Post 227 Wolfenstein v1.2 - "at least a yellow dip" Do you enter if the price emerges from other colors?
5. SL - Did you change it down from 20?

Keep up the great work. It can only be admired.
Thanks ady, I will vach "The Moses code", sounds interesting already
2 I agree with the live acct, I'm only trading this on demo because the next version, Lion King is still in developement...can you post some pics of the trades, so we can analyze?
3 price (thin white line) comes back from pullbacks, but when crosses purple in the dir of 5min trend too + the other conditions
4 entry after a yellow dip, price comes out from colors + the other conditions
5 no, SL20, v1.2 is the last version
"Money is only a part of wealth" Q.
  • #380
  • Aug 26, 2008 2:36pm Aug 26, 2008 2:36pm
  •  4xq
  • | Joined Jun 2008 | Status: In This Sign You Shall Conquer | 281 Posts
Quoting fxRichard
I don't doubt 100 pips a day, it's not difficult with the rainbow especially on a higher timeframe like the 1 min/5min etc. The problem is in a lot of his trades you have some drawdown thus this eliminates the possibility of throwing big money at each trade. Personally I prefer the 20-30 pips at $1k a pip with next to 0 drawdown vs. 100 pips at $30 a pip (about equivalent for account size and MM being used).
I'm not using the MM yet, fx, looks that u don't understand that this sys is not a finished product yet and I dont use your risk management, so you are right, this sys can't use a big part of the acct on one trade, it is just another sys than yours
"Money is only a part of wealth" Q.
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