Scalping FX with Cyrox Rainbow

[Euler]

great workshop..... Troll mentioned that you can change the parameters for the CyroxOsc indicator to capture possible reversal movements much faster than what you would with the default settings.

Am focusing on the setups detailed in the workshop, but had a look at the settings and adjusted them tighter .... very interesting at first glance ... will monitor them and see how they perform over a few sessions.

 

[Andy_aus]

... No worries tayser. It was nice meeting everyone

Thanks for getting the melbournites organised and signed up for the workshop to make it all happen.

Shuei will have to trademark his dragon pattern haha

 

[tayser]

First trade was possibly a bit too early - and I ignored CyroxOSC. Everything else, pretty happy.

 

[tayser]

 

[shuei]

I have encountered a problem with zoom for the rainbow. I can zoom right on in but zooming out doesn't want to work. First time that this has happend to me and need to rectify it. Has anybody got a solution??

 

[tayser]

shuei: Crtl + UP arrow / Crtl + DOWN arrow not working?

 

[andy87]

im guessing Trollman's seminar was worth every penny. What was the biggest lesson learnt from the o'wise one? I couldnt justify going down there because ive only been doing scalping for a few weeks, and monitoring for a few months

 

[prawn_86]

hey tayser,

those entry and exit arrows on NT, do you put them in yourself, or have you somehow hooked NT up to Oanda?

thanks

Prawn

 

[prawn_86]

back on the horse

executing through Oanda (same as Tayser), but using gain feed on NT to get signals.

+3.1 will do for my first trade in about 6 weeks

 

[tayser]

started hesitating, so stopped. 21 net.

 

[tayser]

first 2 sets of arrows: on the 1st is where I clicked buy. the 2nd is where I got filled. the 3rd is where I clicked sell, the 4th is where I got filled - this on Viking Demo. surprisingly the 5 pipper was fine and likwise the last...

I am running this in VMWare as it's not supported on 64-bit Windows as yet (hurry the fraggle up Currenex!).

 

[tayser]

more demo slippage....

the fill to open the 2nd trade was spot on... look how **** the exit fill was (.06 instead of .10)...

 

[prawn_86]

Ok so im focusing on more aggressive scalps now rather than my old style of S/R breaks. So far its looking good but very early stages. Just focusing on the yellow flame as Trollmann has said...

1st: Price bounced off flame for entry. Took profit when it retracted further in. +3

2nd: Entered as yellow turned up. Slightly late but still got some quick pips. +2.1

3rd: Entered as yellow flattened and turned down. Price stalled at support so exited at b/e. 0

 

[tayser]

more than enough today.

 

[agisthos]

JohnnyComeLate lol

I actually didn't know you could confiure if (shows you how much I've played around with it eh), so no I haven't played with it unfortunately.

I'm essentially starting from scratch as of today anyhow - I'm purely just going to use the yellow spine / flame in same direction entries and the 2nd chance crocodile exits that we discussed at length. I've had 6 hours of screentime just looking at them on EUR/USD over the weekend (using pre-recorded sessions).

I have been looking at these Rainbow charts on many different forums for the last day or so. One thing I noticed was that when a strong move has started up or down, and the red flame bounces off the orange/yellow lines, it is a powerful continuation move that would seem to be high probability of success taking 3-5 pips.

Is this what you are talking about?

 

[tayser]

yep - after a move, you wait for the price to go the other way and when the yellow/orange lines start forming a spine in the same direction you enter - the filter whether to enter or not is if both flame (price) and yellow spine are going in the same direction. It'll take a lot of screentime to do it with a certain degree of confidence btw.

 

[prawn_86]

1st: +4.5. Price crossed through yllows as they started to push up. Prob my best trade.

2nd: -3.1. got too greedy looking for another quick entry. should have waited.

3rd: -0.2. Probably should have held longer but made it back on the next one.

4th: +1.9. Broke resistance plus yellows expanding. Could of held longer

5th: +2.9. Bounced off previous resistance, plus yellows pointing up and expanding. Def could have held that one longer.

Total = 6 (target is 5 daily)

Now i just need to focus on identifying the trades to hold longer and those to exit early. Need to stop panicing and taking a small profit when i have a trade open.

 

[prawn_86]

5th trade:

 

[prawn_86]

Final trade (couldnt help myself) +4.

R:R was a bit big for my liking, but i was pretty confident it was going to get back down, cause it was just a bull trap spike creatng a lower high.

 

[tayser]

market's making me work today.