Scalping FX with Cyrox Rainbow

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Cyrox Simple Scalping is a trading method used to enter in the Forex market with high prospect and taking profits on small price changes, usually soon after a trade has been traded and became beneficial. It requires a scalper to have a strict entry/exit strategy with regulation because one large loss could get rid of the many small gains that the scalper has worked to obtain. Having the right tools such as 01 sec Cyrox Simple Scalping Setup, a live real-time feed, a direct-access ECN broker and the motivation to recognize and place high prospect trades are requisite for this strategy to be successful...

 

[>Apocalypto<]

Hey Rainbowers.

the attached pic is the rainbow I am messing around with at the moment.

I am using it on the 5 min time frame with Heiken Ashi still a work in progress. Finished up for the week though.

Helps satisfy the need to trade while I wait for 1 hour setups......

To be honest I am not good enough to trade the 1sec :bricks1:

 

[tayser]

I've been playing around with grand-pappy GBP/JPY for the past few weeks.

same entry in both cases: resumption of the down trend (lower low and also the purple to red indicator confirms it).

 

[Stormin_Norman]

do u cop many losses?

 

[tayser]

 

[>Apocalypto<]

Good going Tayser.

That's a beast I stay well away from....

What's the spread you face on FXCM to trade it?

Below today's trades.

+11.4 off the rate decision (forgot it was on!)
+7
-10
+9.9

 

[tayser]

EUR/JPY: 1.1-2.1
GBP/JPY: 2.3-4.3

they're very good spreads for a bucketshop.

 

[derty]

Tayser, in the early parts of the thread that I have read you were concentrating on the AUD/JPY, have you gone away from this now and if so why?

Just starting to demo with the rainbow, with very mixed success. Trying to analyse my multitude of errors at the moment and are quickly learning some very important do's and don'ts. I might put up some of my analysis for comment later.

I still have a LOT of screen time ahead of me yet I think.

 

[tayser]

doesn't move enough and many brokers offer a poor spread to beginners.

Recommend EUR/USD or EUR/JPY - just pick one and get to know it before having a look at another.

 

[>Apocalypto<]

EUR/JPY: 1.1-2.1
GBP/JPY: 2.3-4.3

they're very good spreads for a bucketshop.

they're excelent spreads!

what's the execution like?

 

[>Apocalypto<]

two trades tonight.

first, raced into profit but moved stop to BE price came back stopped me out.

second, a little more risky long bar entry, price moved down came back knocked me out - 7

-7 on the night only been on three hours spine is sideways now time to sit out till a trend develops.

Good trading

 

[SlideLow]

So Apocalypto, tayser you guys still playing with the Rainbow? how it going?

 

[>Apocalypto<]

So Apocalypto, tayser you guys still playing with the Rainbow? how it going?

hi sidelow,

I love the look of the rainbow and i do enjoy trading it from time to time. I am not using now as I have my 15min method back up to full strength.

if you can learn to read the spine and have the discipline to wait for the right set ups the rainbow is very powerful tool on any time frame!

see the cyrox website for more info.

http://www.cyrox.com/

enjoy

 

[SlideLow]

Will do, thankyou.

 

[tayser]

What the new setup looks like:

 

[daveM]

are people still using the method.........??

 

[Hacka]

Has any one set this up on there phone? Can anyone help with settings for it using mt4 on the phone this is my screen below thanks whatsapp: me here +18763417551