is it feasible to scalp gbpjpy?? how?? | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalp, scalp, scalp 5,689 replies

To scalp or not to scalp? (Images included) 18 replies

Is this a feasible approach to trading binary options? 7 replies

Has anybody ever lost a scalp... 12 replies

time to Range SCALP all day people 1 reply

Attachments: is it feasible to scalp gbpjpy?? how??
Exit Attachments

is it feasible to scalp gbpjpy?? how??

  • #41
  • Oct 10, 2018 12:00pm Oct 10, 2018 12:00pm
Quoting jmtini
{quote} It would be if you gave us a few examples of your system - I am not looking at this from a spread point of view. It 's quite obvious that one cannot scalp these pairs with an 8 pip spread! I am looking at the feasibility from a purely technical point of view. I have given some examples above of a few good set ups and hope that they might help traders scalp and win these fast moving trading pairs
and for that part i dared to mention that this was a dormant thread the last 10 years, even back in the day with limited interest.

did you mean to post a screenshot of how i scalp?
if yes, sure, here it is, the last entry for today, a real fresh one.

Attached Image (click to enlarge)
Click to Enlarge Name: EC 10.10.18..png Size: 69 KB
there is always, always another trade!!
  • #42
  • Oct 10, 2018 4:07pm Oct 10, 2018 4:07pm
I am using 2 strategies in my scalping.
Strat 1 : Scalp trade with the trend using 5M and 15 M chart Using Renko chart.
a) Identify the main trend and Avoid all news release event on the calendar
b) wait for price retract to the 20 period moving average and renko line up with the trend to enter the trade.
c) Exit when renko changes against you.
d) set Risk:reward at 1:2 if possible
Strat 2: Counter trend using TD sequential
A) wait for TD to count to 9 or 12 and enter trades against the trend
b) set risk : reward a 1:1 - minimum 10 pips
  • #43
  • Oct 10, 2018 8:24pm Oct 10, 2018 8:24pm
Quoting jmtini
{quote} Profitfarmer I am really not interested to know what a great scalper you are - unless you are really interested in making a useful and positive contribution to this revived thread, I suggest you go and find someone else to annoy? Thank you so much!
you ask for example.
i show example. very simple and easy example for that fact.
that isnt positive.
that annoys you? sorry. i may misunderstood what you mean on positive contribution then to a thread about scalping.
there is always, always another trade!!
  • #44
  • Oct 11, 2018 2:59am Oct 11, 2018 2:59am
Quoting profitfarmer
{quote} you ask for example. i show example. very simple and easy example for that fact. that isnt positive. that annoys you? sorry. i may misunderstood what you mean on positive contribution then to a thread about scalping.

OK no problem. I've deleted my post. Any examples greatly appreciated
  • #45
  • Oct 11, 2018 7:41am Oct 11, 2018 7:41am
Quoting profitfarmer
{quote} and for that part i dared to mention that this was a dormant thread the last 10 years, even back in the day with limited interest. did you mean to post a screenshot of how i scalp? if yes, sure, here it is, the last entry for today, a real fresh one. {image}
So you are soo sure on your signal that you dare go against a strong trend like that....There where 2 small bearish candles in the last 22 candles and you hit spot on the last bullish candle before it gave a small pullback and you got 6 pips out of it....I know you told me that the signal taken of the rsi there how do you determend if it turns on 75-80 ore 85 if you had taken it of the 80 you would have too scale in 4 possisions ore 3 mayby,but then again made a much bigger profit,but mayby its better too dont have too do that in the long run too avvoid loosers i have changed too the 1 minute from my 3 min old system today too wait for the RSI signals,but i like too have one more confirmation either a dynamic EMA ore a supp/ress level and of course i use my currencie strenght meter and never trade gainst a stronger currencie....Its not like that are a signal alone because it can already have the currencie strenght baked in and a little shift of the strongest weakening a little will make it go against the strongest currencie,but in the long run of many trades you will have a better winrate following the currencie strenght meter....But even waiting for RSI signals that arnt that many i have 7 pairs open on the one minute i take Insidebar breakeouts in synch with currencie strenght and the linear regression for shortterm trends ,but when i get a RSI signal its for more pips usually than my insidebar....I have only traded one RSI signal and average in 3 possisions i have gone down on my lots too be able too scale in 5 possisions using a total of maximum leverage but if wait for it too hit 80 ore 85 i dont think i will meet that many as 5 1 min candles after a signal given very often i am not martingaling only open same possision on next candle.....I would like too use my 3 min instead,but even i have a beast of a computer with 16 gb ram i cant have more than 3 ,,,3 min offline chart open before the computer freezes....I will post my currencie strenght meter here because i think this is the best and simplest one out there....Also post the insidebar if anyone want too try i can drop the linear also then you have a system that works on 1-3-5 min with lesser and lesser signals too longer timeframe,but also higher winrate i like the 1 min...because it gives most signals and you just have too practise and read the trend....So if linear is pointing up and the candle breakes the top line of insidebar and the currencie is in synch you take the trade on the open candle and exit after 1-10 pips if you trail your stop you can goo further....Wow some news hit now....Keep it green...
Attached File(s)
File Type: ex4 1.Magne999 linear (1).ex4   10 KB | 344 downloads
File Type: mq4 Magne currencie strenght.mq4   29 KB | 358 downloads
File Type: ex4 1.Magne999 insidebar.ex4   21 KB | 360 downloads
You win some you loose some do both with peace of mind
  • #46
  • Oct 11, 2018 8:39am Oct 11, 2018 8:39am
Quoting magne999
{quote} So you are soo sure on your signal that you dare go against a strong trend like that....There where 2 small bearish candles in the last 22 candles and you hit spot on the last bullish candle before it gave a small pullback and you got 6 pips out of it....I know you told me that the signal taken of the rsi there how do you determend if it turns on 75-80 ore 85 if you had taken it of the 80 you would have too scale in 4 possisions ore 3 mayby,but then again made a much bigger profit,but mayby its better too dont have too do that in the long...
one can add to probabilities. like the BRN. the acceleration of move. or this case the no news time.
this was posted as was the last, most recent trade yesterday. my preference normally is M5, and not this late hour ( in my time zone).
like in trading, scalping the same: quantity vs. quality. that is universal, whatever your approach is.
i usually "miss" more trade than i take.
there is always, always another trade!!
  • #47
  • Oct 11, 2018 9:04am Oct 11, 2018 9:04am
Quoting profitfarmer
{quote} one can add to probabilities. like the BRN. the acceleration of move. or this case the no news time. this was posted as was the last, most recent trade yesterday. my preference normally is M5, and not this late hour ( in my time zone). like in trading, scalping the same: quantity vs. quality. that is universal, whatever your approach is. i usually "miss" more trade than i take.
My point being after 20 bullish and two bearish last 5 being bullish how it is possible too hit exactly at the last bullish before getting a pullback is this a regular trade like just another trade because i would never taken that trade after that bullrun the pair had been bullish for a long time.....going against trend like that even it where very overbought on the RSI....I also are a technical trader and have found the flow now i feel depending on indicators,but you have all of theese PRO traders that...."indicators are lagging only tell what have happened its all abaut priceaction"I am sure most of them doesnt even know what priceaction really is...I mean that trading doesnt have anyting too do with price at all not the way we trade atleast...Its all abaut how the cursor react at sertant levels do to Supp/Ress....Dove alliance said that in hes Paradox system tread that trading had nothing too do with price and i would say that he is absolutly a successful trader taking 40 pips a day with rearly any losses...Keep it green folks...
Attached Image
You win some you loose some do both with peace of mind
  • #48
  • Oct 11, 2018 9:04am Oct 11, 2018 9:04am
Quoting magne999
{quote} So you are soo sure on your signal that you dare go against a strong trend like that....There where 2 small bearish candles in the last 22 candles and you hit spot on the last bullish candle before it gave a small pullback and you got 6 pips out of it....I know you told me that the signal taken of the rsi there how do you determend if it turns on 75-80 ore 85 if you had taken it of the 80 you would have too scale in 4 possisions ore 3 mayby,but then again made a much bigger profit,but mayby its better too dont have too do that in the long...
I must say the inside bar indi is very useful. Especially if one is trading a very jerky trading pair like GBPJPY! Thanks

Agree with you about trading against a strong trend - I wouldn't have the guts! Having said that, I suppose that GBPJPY would be the only pair I would attempt it due to it's very whipsaw-like movement
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 61 KB
  • #49
  • Oct 11, 2018 9:09am Oct 11, 2018 9:09am
Quoting jmtini
{quote} I must say the inside bar indi is very useful. Especially if one is trading a very jerky trading pair like GBPJPY! Thanks
You ment trending pair like GBP/JPY....GBP/JPY and EUR/NZD are two pairs that usually have 1 ore 2 trending days a week if you can find thoose days you can trade the insidebar all day after small pullbacks and make a killing its not unusual that thoose 2 pairs can put in both 2 and 300 pips in a 24 our peiod...
You win some you loose some do both with peace of mind
  • #50
  • Oct 11, 2018 10:26am Oct 11, 2018 10:26am
Quoting profitfarmer
{quote} one can add to probabilities. like the BRN. the acceleration of move. or this case the no news time. this was posted as was the last, most recent trade yesterday. my preference normally is M5, and not this late hour ( in my time zone). like in trading, scalping the same: quantity vs. quality. that is universal, whatever your approach is. i usually "miss" more trade than i take.
When you trade 5 min.....Do you open trade at open candle ore doo you wait until candle close???
You win some you loose some do both with peace of mind
  • #51
  • Oct 11, 2018 10:31am Oct 11, 2018 10:31am
Quoting magne999
{quote} When you trade 5 min.....Do you open trade at open candle ore doo you wait until candle close???
i dont wait for closed candles.
listed a few conditions i prefer to see, the more the merrier.
however nothing is foolproof, losses are part, with any trading approach.
there is always, always another trade!!
  • #52
  • Oct 11, 2018 11:28am Oct 11, 2018 11:28am
Quoting magne999
{quote} You ment trending pair like GBP/JPY....GBP/JPY and EUR/NZD are two pairs that usually have 1 ore 2 trending days a week if you can find thoose days you can trade the insidebar all day after small pullbacks and make a killing its not unusual that thoose 2 pairs can put in both 2 and 300 pips in a 24 our peiod...

Yes very nice indeed - got the alert and picked up 10 pips in a hurry! (see image)

Although I have to say that on the whole I prefer GBPAUD - it moves very fast and very true. Not so much jerky movement as those pairs you mention - just the spread of course is not so good
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 52 KB
  • #53
  • Oct 11, 2018 11:42am Oct 11, 2018 11:42am
Quoting jmtini
{quote} Yes very nice indeed - got the alert and picked up 10 pips in a hurry! (see image) Although I have to say that on the whole I prefer GBPAUD - it moves very fast and very true. Not so much jerky movement as those pairs you mention - just the spread of course is not so good {image}
Yes that was a nice insidebar...
You win some you loose some do both with peace of mind
  • #54
  • Oct 11, 2018 12:34pm Oct 11, 2018 12:34pm
Quoting magne999
{quote} Yes that was a nice insidebar...

What about GBPNZD? Huge range and with ECN broker the spread is OK

I do agree with you about choosing good trending days. Actually this week has been excellent on some pairs.

Look at Monday for instance - 150 pips in the 5 morning hours!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDM1.png Size: 53 KB
  • #55
  • Oct 11, 2018 12:38pm Oct 11, 2018 12:38pm
Quoting jmtini
{quote} What about GBPNZD? Huge range and with ECN broker the spread is OK I do agree with you about choosing good trending days. Actually this week has been excellent on some pairs. Look at Monday for instance - 150 pips in the 5 morning hours! {image}
Could have gotten in some good ones there...if the trend is there the insidebar is only a trigger that gives you an edge that the trend will go on from that point and not return...
You win some you loose some do both with peace of mind
  • #56
  • Oct 12, 2018 6:51am Oct 12, 2018 6:51am
Quoting magne999
{quote} Could have gotten in some good ones there...if the trend is there the insidebar is only a trigger that gives you an edge that the trend will go on from that point and not return...

Well it works pretty good - not 100% of course, especially on a volatile day like today! But it's been a slow downtrend on GBPJPY and the indi picked up some nice scalps

Just testing it of course - all trades low leverage
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 76 KB
  • #57
  • Oct 12, 2018 9:23am Oct 12, 2018 9:23am
Yes of course not 100% what is????some have a false breake out and plummits back inside after peaking outside the lines,but if you use the linear regression as refferance too the short term trends you will have more winners than loosers and please just get out of the trade as once as it goes inside the lines again,because the setup have failed and there are nothing more too do abaut that just take the small loss and wait for a new one...
You win some you loose some do both with peace of mind
  • #58
  • Oct 12, 2018 10:25am Oct 12, 2018 10:25am
Quoting magne999
Yes of course not 100% what is????some have a false breake out and plummits back inside after peaking outside the lines,but if you use the linear regression as refferance too the short term trends you will have more winners than loosers and please just get out of the trade as once as it goes inside the lines again,because the setup have failed and there are nothing more too do abaut that just take the small loss and wait for a new one...

Oh no, I wasn't being critical at all - of course nothing is 100%, otherwise some of us would be millionaires in no time!

However, I'm not quite with you about not taking a trade inside the lines - if one is fairly confident that price will bounce off falling/rising support? I just took 5 pips on GBPAUD and the price had come back into the box but bounced off falling resistance (ema)

P.S. I got hit by that spike but recovered !
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 56 KB
  • #59
  • Oct 12, 2018 10:35am Oct 12, 2018 10:35am
Quoting jmtini
{quote} Oh no, I wasn't being critical at all - of course nothing is 100%, otherwise some of us would be millionaires in no time! However, I'm not quite with you about not taking a trade inside the lines - if one is fairly confident that price will bounce off falling/rising support? I just took 5 pips on GBPAUD and the price had come back into the box but bounced off falling resistance (ema) P.S. I got hit by that spike but recovered ! {image}
Yes if you are using EMA`S as dynamic supp/ress you can of course take trades of other signals,but for the inside bar alone i close as soon as they fail...I have 10-35-50-100 and 200 EMA on all my charts and use them a lot for supp/ress on the 3 min,but on 1 min...I usually use the 50 sometimes as a trigger for MOMO scalps with linear regression"shortterm trend" i am adding the ichi monitor for trend 1-4 Hour,Daily and Weekly 16 arrows total and will try and keep my trades with majority of arrows in addition too currencie strenght and the shorterm trends....Its good too follow the overall trends also...
You win some you loose some do both with peace of mind
  • #60
  • Oct 13, 2018 6:23am Oct 13, 2018 6:23am
Quoting magne999
{quote} Yes if you are using EMA`S as dynamic supp/ress you can of course take trades of other signals,but for the inside bar alone i close as soon as they fail...I have 10-35-50-100 and 200 EMA on all my charts and use them a lot for supp/ress on the 3 min,but on 1 min...I usually use the 50 sometimes as a trigger for MOMO scalps with linear regression"shortterm trend" i am adding the ichi monitor for trend 1-4 Hour,Daily and Weekly 16 arrows total and will try and keep my trades with majority of arrows in addition too currencie strenght and the...

Thank you for revealing your template. Certainly you must be doing something right because your TE doesn't lie! Your results are excellent and like Profitfarmer you are (I think) taking 1 - 3 quick pips out of the market in your trades which are obviously highly leveraged which is building your account balance very nicely indeed. I note too that your losses are always very small - I presume that you are closing the trade if, and as soon as, the price goes back into the "box". A very clever strategy indeed and it obviously works! Really well done.

I am using very similar ema values but I am using "tram lines" which is basically the same ema value set to the high and the low. Then I am also using ema cross (one can use 5/8 or 6/12 whatever one prefers). Anyway what I intend to do now is use your excellent indi's and strategy on my chart. Well in fact I started on Friday and increased my account balance by 10% which is OK IMHO for one day's trading!

Anyway thanks again. Your contribution here has been really welcome and much appreciated.
0 traders viewing now