Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 82 | 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

  • #1,621
  • Oct 11, 2007 8:32am Oct 11, 2007 8:32am
Quoting fss side
Guys should we just wait after a strong uptrend for the red lag to break the .85 mark pretty convicingly?
watch for a 5 min candle to close below the trendline to go short and above the top trendline to go long
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 24 KB
  • #1,622
  • Oct 11, 2007 8:32am Oct 11, 2007 8:32am
Quoting imransait
Quit the job and become a forex trader full time, sis
you are really talented and can do wonders
I would like to quit my job to Unfortunately I'm not very lucky and need an EA for this system
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,623
  • Oct 11, 2007 8:34am Oct 11, 2007 8:34am
Quoting fss side
Are you using Lag-2 for entries and exits??
Yes, I guess you could say that, because I definitely wait for the Lag-2 to come down to the .85 level or up to .15. It's just safer for me until I gain a little more experience with the system.
Fx Diva
  • #1,624
  • Oct 11, 2007 8:35am Oct 11, 2007 8:35am
Quoting matrixebiz
I would like to quit my job to Unfortunately I'm not very lucky and need an EA for this system
No need for EA , once you have about 10k capital...just use 10% capital to trade and risk not more then 2% capital on Sl and u can do wonders. If i tell u that just make 10 pips and compound it every day, thats enough, no need to make 100 pips to make a living out of forex
  • #1,625
  • Oct 11, 2007 8:36am Oct 11, 2007 8:36am
Quoting imransait
watch for a 5 min candle to close below the trendline to go short and above the top trendline to go long
Now your drawing in your own trenlines?????
  • #1,626
  • Oct 11, 2007 8:37am Oct 11, 2007 8:37am
Quoting imransait
Quit the job and become a forex trader full time, sis
you are really talented and can do wonders
Thanks for the encouragement! That's what I'm planning to do after this year, possibly this December.
Fx Diva
  • #1,627
  • Oct 11, 2007 8:39am Oct 11, 2007 8:39am
Quoting imransait
No need for EA , once you have about 10k capital...just use 10% capital to trade and risk not more then 2% capital on Sl and u can do wonders. If i tell u that just make 10 pips and compound it every day, thats enough, no need to make 100 pips to make a living out of forex
True, no need to make 100 pips. If you have the right system that almost guarantee 10 pips profit, all you need to do is wager more lots. BTW, is it easier to make an Email Alert EA than an Autotrade EA?
Ok, time to read the 110 page of this thread on the weekend to understand what I'm doing
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,628
  • Oct 11, 2007 8:40am Oct 11, 2007 8:40am
Quoting fxdiva
Thanks for the encouragement! That's what I'm planning to do after this year, possibly this December.
I am planning to have a live chat area for people who are interested to start a live test of this method with starting capital of 1000 $ , we will aim to make 10,000 $ in 2 months time ( i.e 40 days of trading ) , am working out the details for this., and will have it up soon here. Maybe plan to do start this by Jan 2008.
Anyone interested PM me if you want to join this group
  • #1,629
  • Oct 11, 2007 8:42am Oct 11, 2007 8:42am
Quoting fss side
Now your drawing in your own trenlines?????
just worknig on it..i am learning how to draw them
  • #1,630
  • Oct 11, 2007 8:42am Oct 11, 2007 8:42am
Quoting fxdiva
Yes, I guess you could say that, because I definitely wait for the Lag-2 to come down to the .85 level or up to .15. It's just safer for me until I gain a little more experience with the system.
Hi Diva
Are you using the above only on the 5min chart?
I have read this whole thread & I still cannot seem to make it work for me.

kevin
  • #1,631
  • Edited 8:53am Oct 11, 2007 8:43am | Edited 8:53am
Guys this is for everyone

I am planning to have a live chat area for people who are interested to start a live test of this method with starting capital of 1000 $ , we will aim to make 10,000 $ in 2 months time ( i.e 40 days of trading ) , am working out the details for this., and will have it up soon here. Maybe plan to do start this by Jan 2008.

Anyone who is interested needs to have a live a/c with any broker of their choice and needs to send weekly reports and the one who has the most returns will also have some prize sponsored by all the people which will trade and who will contribute towards this project.

Anyone interested PM me if you want to join this group , more details are being worked out
Attached Image
  • #1,632
  • Oct 11, 2007 8:48am Oct 11, 2007 8:48am
Quoting imransait
Guys this is for everyone

I am planning to have a live chat area for people who are interested to start a live test of this method with starting capital of 1000 $ , we will aim to make 10,000 $ in 2 months time ( i.e 40 days of trading ) , am working out the details for this., and will have it up soon here. Maybe plan to do start this by Jan 2008.
Anyone interested PM me if you want to join this group
oh my god! its 1000% growth imran!! u have done it before???
  • #1,633
  • Oct 11, 2007 8:51am Oct 11, 2007 8:51am
Quoting fxking
oh my god! its 1000% growth imran!! u have done it before???
thats the challenge i am putting myself to , if this works, then its going to explode the myth that only 5% traders can make money.

Anyone who is interested needs to have a live a/c with any broker of their choice and needs to send weekly reports and the one who has the most returns will also have some prize sponsored by all the people which will trade and who will contribute towards this project
  • #1,634
  • Oct 11, 2007 8:58am Oct 11, 2007 8:58am
Quoting imransait
thats the challenge i am putting myself to , if this works, then its going to explode the myth that only 5% traders can make money.

Anyone who is interested needs to have a live a/c with any broker of their choice and needs to send weekly reports and the one who has the most returns will also have some prize sponsored by all the people which will trade and who will contribute towards this project

i'll need to change my 8-pip pound/yen broker for an ecn. just ordered a new computer. let's start sooner!
realize the universe is one thing, and attach it to your body
  • #1,635
  • Oct 11, 2007 9:01am Oct 11, 2007 9:01am
Quoting buddhi
i'll need to change my 8-pip pound/yen broker for an ecn. just ordered a new computer. let's start sooner!
no need to change, any broker will do as long as he is reliable and will give u that 10,000 $ back once its made
  • #1,636
  • Oct 11, 2007 9:06am Oct 11, 2007 9:06am
ok guys, see u later..time to open fast and prayers, see u in 1 hr time
  • #1,637
  • Oct 11, 2007 9:18am Oct 11, 2007 9:18am
Quoting kjp678
Hi Diva
Are you using the above only on the 5min chart?
I have read this whole thread & I still cannot seem to make it work for me.

kevin
Yes, on 5min . . . just keep practicing demo or micro mini lots and you'll eventually get the hang of it. Don't give up.
Fx Diva
  • #1,638
  • Oct 11, 2007 9:22am Oct 11, 2007 9:22am
I'll be out for an hour too; although I'm still signed in . . . "job stuff"
Fx Diva
  • #1,639
  • Oct 11, 2007 9:39am Oct 11, 2007 9:39am
Do I need to read the whole thread or are the rules good on the first post?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,640
  • Oct 11, 2007 10:04am Oct 11, 2007 10:04am
Quoting BFried
You know, that's a good question. I've never really quantified it. I'd estimate around 30-40 pips. The reason I'd estimate that is because it's not worth it (to me personally) to enter a trade if I can't make 15-20 pips or more. So, if the EMA channel is 40 pips wide, that means you can afford to loose 10 pips on both ends and still make a decent profit. If it's 20 pips wide, you'd be really lucky to make 10 pips, so why bother? It's not a good risk to reward in my opinion.

A lot of the time the candles aren't inside the EMA's so you don't have to worry about it at all. But I'd definitely say if it's inside the EMA's and they're 20 pips apart, I won't touch it.

I enter based on lag 1 but only if lag 2 is doing 1 of 2 things:

1) Lag 2 is completely flat on the same side as Lag 1. For example, if Lag 1 is flat against the bottom and pointing up past 0.15, Lag 2 needs to be flat against the bottom too.

2) Lag 2 was flat but is now pointing in the same direction as Lag 1. For example, if Lag 1 is flat against the bottom and pointing up past 0.15, Lag 2 can be doing the same thing. In fact, this is preferable and suggests a big move. Usually by the time lag 2 starts pointing Lag 1 has already flat lined against the top though.

So, to illustrate:

1) Lag 1 looks like (____/) lag 2 looks like (_____)
2) Lag 1 looks like (____/) lag 2 looks like (____/)
Good to know what's been working well. I was wondering more about the narrowness of the MA's when price was outside of them? Is there anything there that would concern you enough to not get into a trade?

Also, I am assuming if given the signal from Lag2 (red) but MA is say another 3-5 pips away, that you would wait for the price to clear the MA before entering? If it is a little further, like7-8 pips, do you not trade or still trade after clearing the area? Is there anything in the way of other comments regarding this subject that are worth mentioning?

Obviously, there can and will be possible other things about a trade that would infuence what you would do. I am just trying to get a feel for what sort of things that you observe that start to make you concerned or nervous about a trade. I'm sure others would like to understand as well.

Hopefully Imran has something he may want to add as well on this subject.

Thanks again for your continued support of the thread!

Pip Hunter!
PipHunter
3 traders viewing now