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

Quoting neilzep

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Imran you noticed how Laguerre .55,if overlapped with candlestick,one can allmost hit entries and exits??Just a thought...

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Quoting imransait

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you can also try g/jpy on 5 mins..works like a charm even with 8 pip spreads

just make sure that both the lags are agreeing to the price action and ur 30-50 pips are guaranteed

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Quoting DaveG777

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I have just closed out this trade at 164.37..

1st lot profit = +29 pips

2nd lot profit = +42 pips

TOTAL = + 71 pips on my first Imran trade


will post more trades as I take them...

God bless us all... and thanks again Imran!!!

Dave

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Quoting apume

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Hello Imran,

Did you say that you use EFXgroup? Is it the one based in the US?

I contacted one of them and they have lower spreads on guppy (~2) but they charge commissions which amount to about 1 pip during each B or S... so a round trip transaction would cost you like 2 pips in commission.

Could you confirm if this is a similar setup you use or is it something different?

Thanks,
-A.

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Quoting neilzep

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I got TS,I dragged from bottom and set indicator to overlap underlieing dataBUT NOT ON SAME AXIS
its not bad,it does look a little messy!!Overlaping of the 2 legs is gppd idea for all. BTW made 10 pips today on EURUSD,1 std lot.$100!...EURUSD spread is below,we have a bloody $5.oo RT trip for Tradestation so $15-$70 range on pairs per trade!.THAT TRADE BETTER TREND GOOD!!
thxs imran!!

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Quoting imransait

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yes, it is same one, i think the commission is 5$ per 100,000 traded , comes to about 0.7 pip per round trip so overall it works out to within 4 pips..so its ok...

their execution is world class and very good customer service

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Quoting chuck_35

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I will attempt to help you although I just learned MT4. I can only tell you what I did.
1. Save the indicator to the indicator folder (inside the expert folder).
2. Shut MT4 down and bring it back up.
3. Go to Insert/Indicators/Custom...
4. The Laguerre should be shown in that list......select it
****If you want to do better you can save the template intothe MT4 template folder. Still do step 1 & 2. Pull up a new chart in MT4 and then right click on it, select Template and you should see the template name listed. Click on the template name that you saved and the chart should transform into the chart that Imran is using.
*** If you are already this advanced in MT4 and have tried it unsuccessfully then someone with more experience may need to help you.

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Quoting apume

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Thanks Imran, I will look into their demo account to get used to their trading platform, I talked to the guy - he says that its not the most user friendly platform but I can get used to it easily...

What has been your experience of their platform? You are correct, its 5$ commission per 100,000$ traded.

Thanks!
-A.

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Quoting Blazer

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Hello Imran,

Can you share please what are your settings in MBTrader and how you set your stop loss?

Right now I am practicing with open orders but I want to place the stop loss in 15 pips as a standard command with the order (bought price minus 15 pips automatic SL ).Is this doable?

They must use a different terminology cause I can't locate the screen.
I have notice also that they charge 14 $aprox for the 100.000$ round trip plus spread.They also close in the minus one pip in most of the cases.

Thank you

Basil

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Quoting imransait

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well, its not the most user friendly platform, it took me some time to get used to it and now its like the only platform i ever want to use, its fast and effecient

they have some webinars recorded, do try to first watch the basic and then the advanced one, its pretty good

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Quoting imransait

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Guys, i am not able to edit post 1, so pls find the new rules for entry and exit, do let me know how it went. This filters out the noise in the 1 min entry and exits. Works good on other time frames as well.

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
and Bollinger bands - 20, 0 and close ( default) ( This is very imp indicator as in uptrend the middle bollinger acts as support and in downtrend it acts
as resistance )
Highly recommended - EMA 200 ( Red ) and EMA 60 (Blue) to find support and resistance

Rules for Entry & Exit
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Entry Long : when Laguerre 1 is above 0.10 and pointing up
Exit for Long is when Laguerre 2 goes to top and turns down to 0.90
Entry for Short : when Laguerre 1 is below 0.90 and pointing down
Exit for Shorts is when laguerre 2 goes to 0.0 Level and then turns up above 0.10

TP is when you exit or 25 pips, whichever comes first
SL is 15 Pips from entry at all time

I see that people are getting confused regarding the second Lag,
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

Pls rememeber, if you doing trades on 1min chart, try to always move ur stop loss once u have 5 pip profit, as market moves are very fast in gbp/jpy

so protect your profits at all time. Keep moving your stop loss every 5 pips or set trailing to 5 pips and sit back and relax.

Below are 2 examples , first is the 1 min chart where we have closed our trade and second is the 5 min chart where we would have exited the trade if only the first Laguerre was our only indicator, but by adding the second laguerre , we are enchancing our profits by almost 2 times...wow..this should really be tested by all on Demo or Live accounts and feedback is eagerly awaited.

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