Scalping FX with Cyrox Rainbow
- Thread starter tayser
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Re: Linuxtroll simple scalping
Good man.
How have your experiences been so far?
Pros and cons??
Good man.
How have your experiences been so far?
Pros and cons??
Re: Linuxtroll simple scalping
Relatively good. Demo can slip a bit - but that's probably more to do with latency between AUS and the US - I dunno, wait til I go live and I'll be able to provide a better review: demo servers don't get as much beef as live ones!
__________________
US Unemployment ("Non-Farm Employment") was released tonight... I took a gamble and it paid off:
(Red = positive trades, blue = negative trades).
Time Order ID Message Event TIF Orig Trader ID
00:32:48 0uj002s:0idu-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.61) Filled GTC DEMO****
00:31:19 0uj002s:0i37-00 Sell Short 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.69) Filled GTC DEMO****
00:30:36 0uj002s:0huo-00 Sell 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.49) Filled GTC DEMO****
00:30:31 0uj002s:0htb-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.561) Filled GTC DEMO****
00:30:11 0uj002s:0hkh-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.98) Filled GTC DEMO****
00:27:28 0uj002s:0h80-00 Sell Short 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 96.32) Filled GTC DEMO****
Over 30 pips net - my weekly target - in one session. If I exclude the big win firstly (you really are borderline gambling when you 'news trade') - the last trade is pretty much spot on 110% LT-method good as you observe the move and take the contrarian stance and it netted my daily target.
If you like this method I highly suggest looking at tick charts!
Relatively good. Demo can slip a bit - but that's probably more to do with latency between AUS and the US - I dunno, wait til I go live and I'll be able to provide a better review: demo servers don't get as much beef as live ones!
__________________
US Unemployment ("Non-Farm Employment") was released tonight... I took a gamble and it paid off:
(Red = positive trades, blue = negative trades).
Time Order ID Message Event TIF Orig Trader ID
00:32:48 0uj002s:0idu-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.61) Filled GTC DEMO****
00:31:19 0uj002s:0i37-00 Sell Short 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.69) Filled GTC DEMO****
00:30:36 0uj002s:0huo-00 Sell 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.49) Filled GTC DEMO****
00:30:31 0uj002s:0htb-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.561) Filled GTC DEMO****
00:30:11 0uj002s:0hkh-00 Buy 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 95.98) Filled GTC DEMO****
00:27:28 0uj002s:0h80-00 Sell Short 100000 AUD/JPY @ Market on MBTX [expiring: 4/04/2008] (100000 traded at 96.32) Filled GTC DEMO****
Over 30 pips net - my weekly target - in one session. If I exclude the big win firstly (you really are borderline gambling when you 'news trade') - the last trade is pretty much spot on 110% LT-method good as you observe the move and take the contrarian stance and it netted my daily target.
If you like this method I highly suggest looking at tick charts!
Re: Linuxtroll simple scalping
When I first started learning the method? shizzleloads - this is the best way to learn, jump in / out when you think you should, but pay attention and learn from mistakes and gradually reduce the frequency of trades to only when you see the high probability entries/patterns occur.
Now? as little as possible!
It's all about low frequency high probability scalps and when you hit your target (whether it's the all important positive target or the negative (stop loss) target) - stop, no questions asked.
When I first started learning the method? shizzleloads - this is the best way to learn, jump in / out when you think you should, but pay attention and learn from mistakes and gradually reduce the frequency of trades to only when you see the high probability entries/patterns occur.
Now? as little as possible!
It's all about low frequency high probability scalps and when you hit your target (whether it's the all important positive target or the negative (stop loss) target) - stop, no questions asked.
Re: Linuxtroll simple scalping
LOL i take it from your response that this is a discretionary method which WAS NOT backtested then.
But thats cool
What does as little as possible mean exactly?
Three? One?
LOL i take it from your response that this is a discretionary method which WAS NOT backtested then.
But thats cool
What does as little as possible mean exactly?
Three? One?
Re: Linuxtroll simple scalping
Have you not been reading the thread or the cyrox forum? You'll see how many trades if you go back over the posts where I've attached images - not least the last one, that'll give you a pretty good idea.
scalping is highly discretionary and employs alternative risk / money management techniques owing to the timeframes that you're actually in the market.
You need to un-learn whatever principles you use when trading the ASX and start from scratch.
Trade what you see now, not what you saw back then...
Have you not been reading the thread or the cyrox forum? You'll see how many trades if you go back over the posts where I've attached images - not least the last one, that'll give you a pretty good idea.
scalping is highly discretionary and employs alternative risk / money management techniques owing to the timeframes that you're actually in the market.
You need to un-learn whatever principles you use when trading the ASX and start from scratch.
Trade what you see now, not what you saw back then...
Re: Linuxtroll simple scalping
Good afternoon!
I love these trades - caught this just as Australia was at COB. Hit the pivot level @ .33, lower highs, lot of support around .27/.28 but watching EFX spread you could see it going nuts between both (as seen in the chart), take a position and then out when I saw my 6 pip target (got slipped by 1 pip).
Time Order ID Message Event TIF Orig Trader ID
17:12:41 0ut002s:04go-00 Sell Short 50000 AUD/JPY @ Market on MBTX [expiring: 14/04/2008] (50000 traded at 97.28) Filled GTC DEMO****
17:15:59 0ut002s:04l3-00 Buy 50000 AUD/JPY @ Market on MBTX [expiring: 14/04/2008] (50000 traded at 97.23) Filled GTC DEMO****
done for the day!
Good afternoon!
I love these trades - caught this just as Australia was at COB. Hit the pivot level @ .33, lower highs, lot of support around .27/.28 but watching EFX spread you could see it going nuts between both (as seen in the chart), take a position and then out when I saw my 6 pip target (got slipped by 1 pip).
Time Order ID Message Event TIF Orig Trader ID
17:12:41 0ut002s:04go-00 Sell Short 50000 AUD/JPY @ Market on MBTX [expiring: 14/04/2008] (50000 traded at 97.28) Filled GTC DEMO****
17:15:59 0ut002s:04l3-00 Buy 50000 AUD/JPY @ Market on MBTX [expiring: 14/04/2008] (50000 traded at 97.23) Filled GTC DEMO****
done for the day!
Re: Linuxtroll simple scalping
Time Order ID Message Event TIF Orig Trader ID
18:41:38 0uu002s:056d-00 Buy 50000 AUD/JPY @ Market on MBTX [expiring: 15/04/2008] (50000 traded at 96.91) Filled GTC DEMO****
18:34:10 0uu002s:0517-00 Sell Short 50000 AUD/JPY @ Market on MBTX [expiring: 15/04/2008] (50000 traded at 96.96) Filled GTC DEMO****
I exited at that point because the bid came up to meet the ask & I was 5 pips (4 pips after commish) in profit.
I need to fine tune exits just as much as entries and I need to trust the rainbow more - it kept going right down to 96.77! Argh.
Time Order ID Message Event TIF Orig Trader ID
18:41:38 0uu002s:056d-00 Buy 50000 AUD/JPY @ Market on MBTX [expiring: 15/04/2008] (50000 traded at 96.91) Filled GTC DEMO****
18:34:10 0uu002s:0517-00 Sell Short 50000 AUD/JPY @ Market on MBTX [expiring: 15/04/2008] (50000 traded at 96.96) Filled GTC DEMO****
I exited at that point because the bid came up to meet the ask & I was 5 pips (4 pips after commish) in profit.
I need to fine tune exits just as much as entries and I need to trust the rainbow more - it kept going right down to 96.77! Argh.
Re: Linuxtroll simple scalping
Time Order ID Message Event TIF Orig Trader ID
17:56:10 0uv042s:04zp-00 Buy 900000 AUD/JPY @ Market on MBTX [expiring: 16/04/2008] (900000 traded at 93.60) Filled GTC DEMO****
17:52:07 0uv042s:04rs-00 Sell Short 900000 AUD/JPY @ Market on MBTX [expiring: 16/04/2008] (900000 traded at 93.66) Filled GTC DEMO****
Time Order ID Message Event TIF Orig Trader ID
17:56:10 0uv042s:04zp-00 Buy 900000 AUD/JPY @ Market on MBTX [expiring: 16/04/2008] (900000 traded at 93.60) Filled GTC DEMO****
17:52:07 0uv042s:04rs-00 Sell Short 900000 AUD/JPY @ Market on MBTX [expiring: 16/04/2008] (900000 traded at 93.66) Filled GTC DEMO****
Re: Linuxtroll simple scalping
Some reason my EFX Navigator demo is up **** creek tonight...
anyhow, discovered Ninja Execution and didn't need to edit the chart!
short on the break of support. Slipped 2 pips (tried to close trade smack bang on my 6 pip target) - should trusted the rainbow and held on - it would hit my Cyrox journal's namesake target!
Finished the week 100% positive with 16 pips (no trades on thursday) - looking for 25+ next week.
Some reason my EFX Navigator demo is up **** creek tonight...
anyhow, discovered Ninja Execution and didn't need to edit the chart!
short on the break of support. Slipped 2 pips (tried to close trade smack bang on my 6 pip target) - should trusted the rainbow and held on - it would hit my Cyrox journal's namesake target!
Finished the week 100% positive with 16 pips (no trades on thursday) - looking for 25+ next week.
>Apocalypto<
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Re: Linuxtroll simple scalping
Very nice work Tayser!
Some reason my EFX Navigator demo is up **** creek tonight...
anyhow, discovered Ninja Execution and didn't need to edit the chart!
short on the break of support. Slipped 2 pips (tried to close trade smack bang on my 6 pip target) - should trusted the rainbow and held on - it would hit my Cyrox journal's namesake target!
Finished the week 100% positive with 16 pips (no trades on thursday) - looking for 25+ next week.
Very nice work Tayser!
Re: Linuxtroll simple scalping
Hi Tayser,
What do you mean by 100% positive?
No losing trades?
Hi Tayser,
What do you mean by 100% positive?
No losing trades?
Re: Linuxtroll simple scalping
none - 4 trades, all winners. I don't expect that trend will continue, but as Linuxtroll says himself, you should aim for a 95% hit rate.
my eventual target is 10 a day, but I'm starting even smaller - only 5 a day (hence 25 target next week - it'll be 25 for the next few weeks).
You have to learn NOT to trade as well...
the pip plan I'm working off (screenshot from the excel sheet I uploaded earlier in the thread):
none - 4 trades, all winners. I don't expect that trend will continue, but as Linuxtroll says himself, you should aim for a 95% hit rate.
my eventual target is 10 a day, but I'm starting even smaller - only 5 a day (hence 25 target next week - it'll be 25 for the next few weeks).
You have to learn NOT to trade as well...
the pip plan I'm working off (screenshot from the excel sheet I uploaded earlier in the thread):
Re: Linuxtroll simple scalping
wouldn't have it any other way
well, that is, at least, until I work up enough to open up an insto-level account with a Currenex broker
remember, I'm not a swing trader who sets stops 40-50+ pips away from entry, I'm in and out of the market in seconds and at most minutes and if I enter and it goes against me, this method dictates you get out. The idea is to do it as many times as possible on demos so you teach yourself when it goes go against you and you also train yourself to only look for high probability entries.
Yes, this method is not mechanical like the vast majority of systems people find comfort in and you have to unlearn a lot of what you may already have done trading another instrument, but to be scared of 1:100 leverage is foolish IMO.
There are a lot of EA's out there that you can install on MT4, read about it one day and start trading it live the next day - you don't have to think or really work - but this isn't one of them.
wouldn't have it any other way
well, that is, at least, until I work up enough to open up an insto-level account with a Currenex broker
remember, I'm not a swing trader who sets stops 40-50+ pips away from entry, I'm in and out of the market in seconds and at most minutes and if I enter and it goes against me, this method dictates you get out. The idea is to do it as many times as possible on demos so you teach yourself when it goes go against you and you also train yourself to only look for high probability entries.
Yes, this method is not mechanical like the vast majority of systems people find comfort in and you have to unlearn a lot of what you may already have done trading another instrument, but to be scared of 1:100 leverage is foolish IMO.
There are a lot of EA's out there that you can install on MT4, read about it one day and start trading it live the next day - you don't have to think or really work - but this isn't one of them.
BentRod
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Re: Linuxtroll simple scalping
What size account is needed for the above system and Forex in General?
Great posts BTW Tayser.
What size account is needed for the above system and Forex in General?
Great posts BTW Tayser.
>Apocalypto<
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Re: Linuxtroll simple scalping
Linuxtroll says to start with a minimum account balance of $1000US.
most demos will give u 5000 - 100 000. before you even think about trading live you must go through the mantra read all u can on the method and do your screen time!
Linuxtroll says to start with a minimum account balance of $1000US.
most demos will give u 5000 - 100 000. before you even think about trading live you must go through the mantra read all u can on the method and do your screen time!
BentRod
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Re: Linuxtroll simple scalping
Geez is that all, I thought Forex required a larger outlay.
As for the getting the hours up on the demo etc I'd prefer to just jump in and trade small, I learn faster that way
Geez is that all, I thought Forex required a larger outlay.
As for the getting the hours up on the demo etc I'd prefer to just jump in and trade small, I learn faster that way
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