Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 61 | Forex Factory

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

  • #1,201
  • Oct 9, 2007 10:59am Oct 9, 2007 10:59am
Quoting imransait
but when they do , its big time gains
Well not sure mate.

Just now i seen on USDJPY 5m they both went up a bit I entered long and loosing now
  • #1,202
  • Oct 9, 2007 11:01am Oct 9, 2007 11:01am
Quoting stace
Well not sure mate.

Just now i seen on USDJPY 5m they both went up a bit I entered long and loosing now
post chart and its news time...FOMC minutes release..do not trade for 15-20 mins
  • #1,203
  • Oct 9, 2007 11:04am Oct 9, 2007 11:04am
Quoting stace
Well not sure mate.

Just now i seen on USDJPY 5m they both went up a bit I entered long and loosing now
Yes, that's what scares me. It may look good then I would make a trade then one of the lags go the wrong way Looking for one of the experts at reading these charts create the EA, at least if it's only 80% accurate on wins, I think most would be happy
Great system
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,204
  • Oct 9, 2007 11:07am Oct 9, 2007 11:07am
Quoting matrixebiz
Yes, that's what scares me. It may look good then I would make a trade then one of the lags go the wrong way Looking for one of the experts at reading these charts create the EA, at least if it's only 80% accurate on wins, I think most would be happy
Great system
It is always like that

EA for me was always black box it will suck on everything
  • #1,205
  • Oct 9, 2007 11:07am Oct 9, 2007 11:07am
1 more
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  • #1,206
  • Oct 9, 2007 11:08am Oct 9, 2007 11:08am
And such small timeframes i dont believe in them they jumping every second and indicators also
  • #1,207
  • Oct 9, 2007 11:38am Oct 9, 2007 11:38am
What about GBPCHF
it is very late but lags did not moved togheter
  • #1,208
  • Oct 9, 2007 11:43am Oct 9, 2007 11:43am
Quoting stace
What about GBPCHF
it is very late but lags did not moved togheter
stace, check the rules, the lags need not move together, the blue lag moves first and thats the lag we use for entry and the red lag is used only for exits and confirming our entries
  • #1,209
  • Oct 9, 2007 11:45am Oct 9, 2007 11:45am
Quoting fx_ninja
1 more chart example, this one is usd/cad tho...
I downloaded your zip file on the macd that you are using, and I am trying to decifer the abbreviations of VT, RT, VB, ZB etc. The parameters are 12,26,9
Thanks
  • #1,210
  • Oct 9, 2007 11:46am Oct 9, 2007 11:46am
Quoting imransait
stace, check the rules, the lags need not move together, the blue lag moves first and thats the lag we use for entry and the red lag is used only for exits and confirming our entries

Hmmm
i read rules and see that when blue lag goes up it is lots false signals
  • #1,211
  • Oct 9, 2007 11:50am Oct 9, 2007 11:50am
Quoting stace
Hmmm
i read rules and see that when blue lag goes up it is lots false signals
on 1 min or 5 min ?
  • #1,212
  • Oct 9, 2007 11:59am Oct 9, 2007 11:59am
Quoting imransait
on 1 min or 5 min ?
on both
  • #1,213
  • Oct 9, 2007 12:05pm Oct 9, 2007 12:05pm
Imrain,

The lags were showing sell, nearest support was 30+ pips away, and this trade never went in the direction indicated... lost 19 pips. This trade essentially wiped out my sucessful trade I had earlier.

I entered on the first line, stop loss triggered on second line.

Ideas?

EDIT: Also look towards the end of the chart. If I had been in a long position, the red lag would have indicated to close my position as it pointed down below 0.85. Shortly after, there was a huge move of over 50 pips going long. So not only did I get a false short entry, I would have had a false long exit if I had been going the other way.
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  • #1,214
  • Oct 9, 2007 12:08pm Oct 9, 2007 12:08pm
Quoting BFried
Imrain,

The lags were showing sell, nearest support was 30+ pips away, and this trade never went in the direction indicated... lost 19 pips. This trade essentially wiped out my sucessful trade I had earlier.

I entered on the first line, stop loss triggered on second line.

Ideas?
YEYE
also on you chart mate ther are lots of false entries
  • #1,215
  • Oct 9, 2007 12:10pm Oct 9, 2007 12:10pm
Thanks for all of the responses guys I appreciate it.
  • #1,216
  • Oct 9, 2007 12:12pm Oct 9, 2007 12:12pm
Quoting BFried
Imrain,

The lags were showing sell, nearest support was 30+ pips away, and this trade never went in the direction indicated... lost 19 pips. This trade essentially wiped out my sucessful trade I had earlier.

I entered on the first line, stop loss triggered on second line.

Ideas?
The Spike up came even after the lags showed sell was because the FOMC interest rates minutes were released, and it was a high impact news release, should have stayed out of it for 30 mins and then entered
  • #1,217
  • Oct 9, 2007 12:13pm Oct 9, 2007 12:13pm
i just keep an eye on those. i dont trade off of them per se...
usually i am looking to see dbl /trpl tops and bottoms; macd div.

VT vertical top

RT rounded top

VB vert botm

ZB zero bounce

TC trend continuation

Quoting bullseye
I downloaded your zip file on the macd that you are using, and I am trying to decifer the abbreviations of VT, RT, VB, ZB etc. The parameters are 12,26,9
Thanks
  • #1,218
  • Oct 9, 2007 12:14pm Oct 9, 2007 12:14pm
Quoting imransait
The Spike up came even after the lags showed sell was because the FOMC interest rates minutes were released, and it was a high impact news release, should have stayed out of it for 30 mins and then entered
OH CRAP! I didn't realize there was news . That was a huge mistake on my part. Need to double check the news next time. Wow...

I'm also assuming the "false exit" I was talking about was also due to the next news that came out 1 hour later.
  • #1,219
  • Oct 9, 2007 12:17pm Oct 9, 2007 12:17pm
Quoting BFried
OH CRAP! I didn't realize there was news . That was a huge mistake on my part. Need to double check the news next time. Wow...

I'm also assuming the "false exit" I was talking about was also due to the next news that came out 1 hour later.
keep a tab on FF home page and mark any high impact ones and keep it posted to ur comp or have some alert u 30 mins before the news
  • #1,220
  • Oct 9, 2007 12:19pm Oct 9, 2007 12:19pm
so what about false signals a lot, maybe someone will show me his screens and someone other i dont want bother the developer
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