ForexSpirit

I just want to note the main sources of information that exist on the net related to the rainbow scalping method.

My first exposure to this trading method was the LinuxTroll Simple Scalping thread on Forex Factory.

This thread has died off and all discussion now takes place on the Cyrox forum. The originator of this scalping method, Cyrinus I Joseph, who often uses the online monikers of LinuxTroll or TrollMann, has dubbed his method the Cyrox Simple Scalping Method. The rainbow indicator setup is also now officially called the CyroxMMA or CyrinusMMA.

The Cyrox forum contains a lot of individual journals of people trading using this scalping method which makes for some pretty interesting reading. Most people seem to be trading using a 1 second timeframe now, rather than the 5 second time frame that was originally recommended. The 5 second timeframe was seemingly the standard due to the fact that this is the minimum time frame supported on Oanda charts (and the system was developed and discussed on the Oanda forums long before it appeared on Forex Factory). Now that Ninja Trader and ECN brokers are recommended instead the shift was made to go to one second charts.

Other forum threads of interest can be found at the Aussie Stock Forums and Kolichi.

One of the more interesting resources that is regularly referenced is a SFO article from 2003 titled The 25 Point Mantra by Douglas E. Zalesky. I found it to contain many excellent insights which are key to being successful as a scalper.