Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 14 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

RE-Imran Sait Method 6 replies

EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait" 36 replies

Making an EA: "Simple Method of Scalping any pair by Imran Sait" 82 replies

How to make my own "Imran Sait" Indicators? What do they mean? 4 replies

Attachments: Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
Exit Attachments

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

  • #261
  • Oct 1, 2007 3:47am Oct 1, 2007 3:47am
S/L now moved to B/E. Free ride from here
Lag 0.8 just starting to turn down. Will see where this one goes. Will take profit at R3 became supprt.

Eben
Attached Image
  • #262
  • Oct 1, 2007 3:55am Oct 1, 2007 3:55am
Stopped out for B/E.

1 trade = b/e

I will try to post trades and results om 5 min gbp/jpy. Since i got a 9 pip spread the 1 min chart will not work for me.If it is okay with Imran i will focus on 5 min and post results here

Regards
Eben
  • #263
  • Oct 1, 2007 4:40am Oct 1, 2007 4:40am
Quoting fxking
imran,since this is a scalping system.do u have a typical target for profit taking in general?
on the 1 min, i see the trend on the second Laguerre and usually take profit once i have +20 in the bag, rest is set to trailing stop.
On the 5 min, i target 35+ and set a trailing stop
  • #264
  • Oct 1, 2007 4:43am Oct 1, 2007 4:43am
Quoting Ebenst
Hi all

Just to make sure i got this right. Please see att chart.
I went short at red arrow open of candle. S/L = 25 PIPS. Move s/l to b/e after 25 pips profit.

Any comments most welcome
Yes, the trade is good...u could have kept the SL open if u were sitting on the PC, but anyway, profit in the bag is better then nothing, more trades will come by.
If u notice the second lag is still not come down, once it comes, u will have a 50-60 pip move down minimum
  • #265
  • Oct 1, 2007 4:45am Oct 1, 2007 4:45am
Quoting Ebenst
Stopped out for B/E.

1 trade = b/e

I will try to post trades and results om 5 min gbp/jpy. Since i got a 9 pip spread the 1 min chart will not work for me.If it is okay with Imran i will focus on 5 min and post results here

Regards
Eben
you did make 25 pips on this, if i am not mistaken, moving SL to BE is good..so u lock in the profits, u will learn as u go by the trades
  • #266
  • Oct 1, 2007 4:48am Oct 1, 2007 4:48am
Quoting apume
Hello Imran,

I am kinda confused. When there are 2 Legs, and if they both are not in phase (going to the same direction), then its not a valid trade acc. to your explanation - but I see some good trades being lost because of that... are you sure that we should be strictly following this rule?

I may be a little too quick to doubt your suggestion here, dont flame me but I did see a couple of them some time back, hence querying you to clear my concern.

Am waiting for your pdf as well... thanks for all your contributions!

-A.
We want to have 100% method which will remove the loss aspect and in a day on the 1 min chart, we will have dozens of oppurtunities , after removing the noise, so its left to ones discretion if u want to stick to only one Lag, that also is ok but u will get whipsawed if market is moving fast.

I welcome any suggestion and feedback, do send them in without worry
  • #267
  • Edited 5:13am Oct 1, 2007 4:54am | Edited 5:13am
1min Long trade about to trigger
target is +25 pips from entry level of 236.00 to 236.05 area
trade was taken as 200 EMA will act as support and price will bounce back up
The other time frames are all showing bearish signals..so if u lock in 10-15 pips profit, close the trade and keep a watch for the 5 min time frame
target of 236.30 reached...am closing this trade with +30 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 1min.gif Size: 28 KB
  • #268
  • Edited 6:28am Oct 1, 2007 5:09am | Edited 6:28am
i am seeing a double top on the 5min chart and its bearish signals on both the laguerre, i am taking this trade on a small lot of 0.01 to see if this does come down to 235.30 which i am targetting. I have a sell order at 236.30 ready for this
Others pls apply Money Management and Risk Management before taking this trade
Sell order triggered at 236.30 SL is 236.55 First TP is 235.85 Second TP is 235.30
this was a wonderful trade...achieved both TP in 1 hr....it was a good ride down
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.gif Size: 22 KB
  • #269
  • Oct 1, 2007 5:19am Oct 1, 2007 5:19am
Quoting kisspips
Was is the correct bars to read exactly Mr.Imransait? 950 or 9500?
Thanks in advance.
you can use 950 or 9550, it is not making a difference
  • #270
  • Oct 1, 2007 5:23am Oct 1, 2007 5:23am
hmm i am a newbie on metatrader and buzzy with a demo account....
forgif me to ask but are the 2 expert advisors laguerre the same ? If not what is the difference and where do i put them in my metatrrader?
  • #271
  • Oct 1, 2007 5:30am Oct 1, 2007 5:30am
Quoting crossover
hmm i am a newbie on metatrader and buzzy with a demo account....
forgif me to ask but are the 2 expert advisors laguerre the same ? If not what is the difference and where do i put them in my metatrrader?
The Laguerre are not Expert Advisors, they are indicators
it is only one indicator, but u will put 2 of them in the chart one after another and the settings are
Indicators used :
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.10, 0.90, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.80, levels 0.10, 0.90 bars to read 9500, color red
  • #272
  • Oct 1, 2007 5:36am Oct 1, 2007 5:36am
Quoting Iceage
Hi Imran,

Thanks for your great work and making it easier to follow.
I met a problem when I use two Laguerees to decide the trade,pls kindly refer to attached screenshot.If I have a short from circle1,then follow it down to circle 3,at this point,it does not meet the exit setup,meanwhile,circle2 seems an entry.What will you do in this case,start a long or hold the short?

Thanks!
I always ask people to lock in profits, in your case, i would close my trade as both the lags are at bottom and first one is turning up, i would take the long and hold on till the second lag also comes to the Top. There is no hard and fast rule that the second lag has to come down and then go up. Take profits as it comes. The second lag is only for use to gauge if we are exiting early or we can hold on more
  • #273
  • Oct 1, 2007 5:50am Oct 1, 2007 5:50am
IMRANSAIT,

thank you
indicators are placed and saved, now we will practice http://www.forexfactory.com/images/icons/icon7.gif
  • #274
  • Oct 1, 2007 6:09am Oct 1, 2007 6:09am
Guys
Majority of the traders here are newbies and most of them have a spread of 6-8 pips on gbp/jpy, so with the existing system of 2 laguerres, it works good for those whose spread is 1-3 pips on gbp/jpy.

So for now on, i will not post anything for 1min as the existing strategy is good enough and we dont need to add anything new

My PDF i will be modifying so that it has only the 5 min strategy. I wil be able to release the PDF after the fasting month of Ramadhan is over. Till then the existing strategy works good for 5 min also, u can remove off the second laguerre if you want , but can keep it as reference and do the trades based on the first laguerre i.e you can take a decision to enter and exit on the it
  • #275
  • Oct 1, 2007 6:13am Oct 1, 2007 6:13am
Quoting imransait
I always ask people to lock in profits, in your case, i would close my trade as both the lags are at bottom and first one is turning up, i would take the long and hold on till the second lag also comes to the Top. There is no hard and fast rule that the second lag has to come down and then go up. Take profits as it comes. The second lag is only for use to gauge if we are exiting early or we can hold on more
Thanks Imran,it is clear,try one just now,get 30 pips,it is great for such a minor time frame! Need to spend more time to see how price goes around the EMA and BB middle line.
  • #276
  • Oct 1, 2007 6:20am Oct 1, 2007 6:20am
Quoting Iceage
Thanks Imran,it is clear,try one just now,get 30 pips,it is great for such a minor time frame! Need to spend more time to see how price goes around the EMA and BB middle line.
usually price stalls around the middle bollinger and retraces up if its in uptrend and goes down if its in downtrend...
EMA specially 60 and 200, price bounces of them unless a strong reversal of trend is there, so watch the price first go above 60 and then 200 and then u will notice that 60 ema ( blue ) going over the 200 ema ( red ) this indicates a bullish trend and vice versa
  • #277
  • Oct 1, 2007 6:35am Oct 1, 2007 6:35am
trade taken earlier on # 268 closed with +100 profit
http://www.forexfactory.com/showpost...&postcount=268
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.gif Size: 26 KB
  • #278
  • Oct 1, 2007 6:37am Oct 1, 2007 6:37am
Quoting imransait
Guys
Majority of the traders here are newbies and most of them have a spread of 6-8 pips on gbp/jpy, so with the existing system of 2 laguerres, it works good for those whose spread is 1-3 pips on gbp/jpy.

So for now on, i will not post anything for 1min as the existing strategy is good enough and we dont need to add anything new

My PDF i will be modifying so that it has only the 5 min strategy. I wil be able to release the PDF after the fasting month of Ramadhan is over. Till then the existing strategy works good for 5 min also, u can remove off the second laguerre if you want , but can keep it as reference and do the trades based on the first laguerre i.e you can take a decision to enter and exit on the it
waiting for your document

hope document is more detailed about how to filter some "bad" trade and any discretion when you enter a trade (very important to newbie like me)
  • #279
  • Oct 1, 2007 6:42am Oct 1, 2007 6:42am
shorted from 164.79... (first BLUE triangle)

took 1/2 profit at the 210 EMA (164.50) - 2nd blue triangle...


still holding other lot with trailing

will close with trailing or when LG-2 goes above .15...

please note... I have notice the quality of the signals are better using the LG-2...

so I have stepped away from the absolute rules a bit... traders' perrogative

thanks again for this method Imran!!!

David
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 27 KB
  • #280
  • Oct 1, 2007 6:45am Oct 1, 2007 6:45am
Quoting muyuan11
waiting for your document

hope document is more detailed about how to filter some "bad" trade and any discretion when you enter a trade (very important to newbie like me)
The only way to filter out bad trades is to have a SL of 25 pips from ur entry based on the 5 min chart and using my rules for entry, you can never go wrong here. bad trade happens when we take entries which are counter trend or while news time. So avoid it and u will not have many losses

If you notice my earlier short entry was at 236.30 and my SL was 236.55, price went as far as 236.51, if it had touched 236.55, i would have taken a long entry. This happens only with time and experience, till then keep 25 pip Sl for 5 min chart entry and ur safe
5 traders viewing now