Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 27 | Forex Factory

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

  • #521
  • Oct 3, 2007 5:35am Oct 3, 2007 5:35am
Quoting imransait
I have heard about it but not tried it, i find my method easy for me to use and follow
use a 5 min chart to trade this beast with my method,study the rules for entry and exit and i assure u will not have one bad trade
imran,do u prefer to trade using the 1min or 5min time frame? what other time frame do u look at too? u mentioned no bad trades,what exactly do u mean? no losing trades? thanks
  • #522
  • Oct 3, 2007 5:44am Oct 3, 2007 5:44am
Quoting fxking
imran,do u prefer to trade using the 1min or 5min time frame? what other time frame do u look at too? u mentioned no bad trades,what exactly do u mean? no losing trades? thanks
personally i am able to trade the 1 min and 5 min without any drawdown, maybe 1-2 losses are part of the human nature, u make some and give some to the market, there is no such thing as 100% success, 90% is achievable
I keep looking at the next immediate time frame on which i have taken the trade to know the overall trend..rest the red laguerre does a good job
no bad trades means ur winners will be much bigger then ur losses if any, as max loss is 20 pips from entry and profit can be 50-80 pips
  • #523
  • Oct 3, 2007 5:51am Oct 3, 2007 5:51am
Blazer...i had the same problem with the bottom of screen on MT4, to overcome the problem i downloaded Laguerre 2A on post 438 and blacked out the RED line colour to my screen background colour...it seemed to provide a very clear view...check with Imransait if the parameters are suitable.
  • #524
  • Oct 3, 2007 5:54am Oct 3, 2007 5:54am
imran, im sorry for asking this.

what is the correct level that we should use in laguerre? is it 0.90 or 0.85?

i hope u can clarify this. thanks.
  • #525
  • Oct 3, 2007 5:56am Oct 3, 2007 5:56am
Quoting sepak.orang
imran, im sorry for asking this.

what is the correct level that we should use in laguerre? is it 0.90 or 0.85?

i hope u can clarify this. thanks.
for Laguerre -2 it is 0.85
  • #526
  • Oct 3, 2007 6:07am Oct 3, 2007 6:07am
Market is ranging..good for quick scalps for those who have less spread on g/jpy ..i am out till US open and News, will trade after news is out and what the DOW does
  • #527
  • Oct 3, 2007 6:09am Oct 3, 2007 6:09am
Imran

When you say 20 pip sl, that includes the spread right?
  • #528
  • Oct 3, 2007 6:17am Oct 3, 2007 6:17am
Quoting graeme_ie
Imran

When you say 20 pip sl, that includes the spread right?
No, u need to add the Spread in that as it varies between brokers, mine is 1-3 pips
  • #529
  • Oct 3, 2007 6:31am Oct 3, 2007 6:31am
Quoting imransait
Market is ranging..good for quick scalps for those who have less spread on g/jpy ..i am out till US open and News, will trade after news is out and what the DOW does
In what way does the dow influencing the forex?
dow indu actually -12.30 points in premarket, dow futures -30, nasdaq futures -7.25 and so on.
  • #530
  • Oct 3, 2007 6:31am Oct 3, 2007 6:31am
Short taken now @ 237.15 TP is open SL is 235.80 , if it goes above 237.50 then will take a long trade.
I dont mean to do this as trade call, only to confirm if my method really works, pls do take this trade if u have SL in place and are not risking more then 5% of ur capital
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.gif Size: 28 KB
  • #531
  • Oct 3, 2007 6:32am Oct 3, 2007 6:32am
Quoting crossover
In what way does the dow influencing the forex?
dow indu actually -12.30 points in premarket, dow futures -30, nasdaq futures -7.25 and so on.
DOW down means USD/JPY down and that drags G/J down
  • #532
  • Oct 3, 2007 6:48am Oct 3, 2007 6:48am
Quoting imransait
DOW down means USD/JPY down and that drags G/J down
ok. Thanks.
By the way, nice breackout on the eur/usd
  • #533
  • Oct 3, 2007 7:03am Oct 3, 2007 7:03am
Quoting imransait
Short taken now @ 237.15 TP is open SL is 235.80 , if it goes above 237.50 then will take a long trade.
I dont mean to do this as trade call, only to confirm if my method really works, pls do take this trade if u have SL in place and are not risking more then 5% of ur capital
Hi Imran

From your latest chart I can see that my chart still doesn't look the same as yours despite using the settings you gave me. Is it possible you could offer a template for downloading please ?

Also there seems to have been a typo on your SL, can you tell us what it should be.

Thanks
  • #534
  • Edited 7:51am Oct 3, 2007 7:09am | Edited 7:51am
Quoting bundubill
Hi Imran

From your latest chart I can see that my chart still doesn't look the same as yours despite using the settings you gave me. Is it possible you could offer a template for downloading please ?

Also there seems to have been a typo on your SL, can you tell us what it should be.

Thanks
yes, sorry for the typo, the SL is 237.50 TP is 235.80
here is the template
Attached File(s)
File Type: tpl 5min_scalping.tpl   8 KB | 1,130 downloads
  • #535
  • Edited 8:18am Oct 3, 2007 8:13am | Edited 8:18am
att
Attached Image(s) (click to enlarge)
Click to Enlarge Name: g j scalping 01.jpg Size: 137 KB
Click to Enlarge Name: g j scalping 02.jpg Size: 114 KB
  • #536
  • Oct 3, 2007 8:17am Oct 3, 2007 8:17am
Guys, this was a false break high, i took another short from 237.45 tight SL at 237.65 Tp is same 235.80
  • #537
  • Oct 3, 2007 8:18am Oct 3, 2007 8:18am
Quoting fx_ninja
att
you have closed the trades, u may get another +50 pips more
  • #538
  • Oct 3, 2007 8:19am Oct 3, 2007 8:19am
Hello,

The phantom of the m4.
Just when I downloaded snagit to take the pic the platform worked ok.

I see IMRAN that you make desicion in m5.

Where we will take desicions in M1 or M5.

Also what about this laguerre2a in post 438 ?


Thank you

Basil
Learn something difficult and earn real money for ever, a lot.
  • #539
  • Oct 3, 2007 8:22am Oct 3, 2007 8:22am
i am flat now...waiting to see us open.

good fortune to you if u are still holding
  • #540
  • Oct 3, 2007 8:24am Oct 3, 2007 8:24am
Quoting Blazer
Hello,

The phantom of the m4.
Just when I downloaded snagit to take the pic the platform worked ok.

I see IMRAN that you make desicion in m5.

Where we will take desicions in M1 or M5.

Also what about this laguerre2a in post 438 ?


Thank you

Basil
Hi Basil
yes, now i am sticking to the m5 chart for posts and method here, but i will be using the 1 min also , those who have low spreads can use 1 min too

Laguerra2a is good for people who dont know how to add it to one window, rest its fine
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