Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 123 | Forex Factory

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

  • #2,441
  • Oct 19, 2007 8:35pm Oct 19, 2007 8:35pm
Quoting Ohka
LKThomas,

as I wrote a few pages back I reccommend to trade the Aussie/Yen cross at 15 min or above.
Aussie/Yen is not really a major cross and consequently liquidity is much lower.
Any movements in the more liquid Yen crosses (€Y & $Y) create much larger movements in Aussie/Yen.
This is the reason why I like to trade this cross, but it's also the reason that trading it on the smaller time frames carries inherently more risk.
Either be content with some 10-15 pips fixed profit target, or consider moving over to 15 minutes (and above). Please look at the attached image (which is a carbon copy of attachment in a prior message) to learn why I made these recommendation.

Just my 0.02€ of experience after having traded this cross for almost a year now....

good trading
Ohka
your chart also tell us to long, what do you want to tell me ?!
  • #2,442
  • Oct 19, 2007 9:36pm Oct 19, 2007 9:36pm
Quoting Tw0eleven
Hey guys/gals,

I have attached my trading plan to this post in hopes for some feedback. If anyone see's something wrong about my plan or if I'm missing any information please let me know. You can disregard a couple of the Trading Rules at the top because you will have to use your own Money Management and Trading times based on your risk and trading schedule.

If you guys/gals like the plan...feel free to save a copy on your computer!

P.S. I origionally made this in MS-excel, but since I can't upload it on FF as an excel worksheet, I had to convert it to a Microsoft work document...so it may look a little funny!

these are the best times same? in your doc...
  • #2,443
  • Oct 19, 2007 9:41pm Oct 19, 2007 9:41pm
Hello Imran! Hello everybody!

First of all thanks a lot for your tremendous & important & useful thread here.

Imran as U R a starter of that project let me ask you some questions about the tools you use in your system.

  1. Could you please explain the work and assignment of Laguerre indicator? Does it work similar to RSI? What is it’s core meaning? If it’s possible – some links?...
  2. Does LevelStop-Reverse work as Parabolic showing the place the stop-loss should be placed? Firstly you didn’t use it in your system. Now you do – WHY?
  3. You said about 3 timeframes you use in your trading i.e. 1min – 5min – 15 min. Do you mean the 5-min is essential, 15-min is for confirming the signal at 5-min. BUT: How exactly do you use 1-min.

Now I stop for a while. Thanks again for your sharing with your system.

Regards & real respect to you and ALL traders here,

Kosta

  • #2,444
  • Oct 19, 2007 9:56pm Oct 19, 2007 9:56pm
Quoting imransait
900 pips a week, guys ur putting me to shame, you got to do 900 pips a day Lol

my aim is that each of you should do on a regular basis atleast 200 pips a day, thats my short term goal , long term is 500 minimum each day
i like the spirit imran,if we can do as u mention,then i think the traders fr goldman sach,citibank,etc will go out of job soon,hahahah.....nice weekend for all and lets keep pipping....
  • #2,445
  • Oct 20, 2007 12:12am Oct 20, 2007 12:12am
hi Imran

this looks like a great strategy. ive just read it and im going to demo test it in the next week. thank you for your contributions. God bless you.

Fer
  • #2,446
  • Oct 20, 2007 3:04am Oct 20, 2007 3:04am
Just testing to see if i could up load charts
Attached Image
  • #2,447
  • Oct 20, 2007 4:29am Oct 20, 2007 4:29am
How put 2 laguerre in the same window?

Setting of laguerre for 1M are:
- laguerre 1 gain 0.55 level .15 e .85
- laguerre 2 gain 0.8 level .15 .85
are corrects?

Tnx for help...
  • #2,448
  • Oct 20, 2007 4:30am Oct 20, 2007 4:30am
Hello Imran,

Thank you for putting up this thread and sharing this "very simple" trading system that I have ever seen!

This is my first posting here although I have been reading and following this system for 3 weeks. I have applied in demo for 1 week only and then continue with live and results are wonderful.

I am a full time trader now and was struggling to maintain my 60 pips daily target. But with this simple system it's soooooo easy and no stress ..... again thank you Imran.

My only hope is that you continue this thread, even after you have started your "new year project", for the newbies as well as seniors.

May God bless you and only He could reward you for sharing this wonderful system with us ... forever...


... dinar
  • #2,449
  • Oct 20, 2007 4:49am Oct 20, 2007 4:49am
Quoting metatsock
How put 2 laguerre in the same window?

Setting of laguerre for 1M are:
- laguerre 1 gain 0.55 level .15 e .85
- laguerre 2 gain 0.8 level .15 .85
are corrects?

Tnx for help...
From experts/indicators folder click, hold, drag and drop the Lagg file into your Lag1 window and confirm the settings. Refer to post #1 for settings and rules.

... dinar
  • #2,450
  • Oct 20, 2007 8:56am Oct 20, 2007 8:56am
Quoting viking1975
how has the trading week been for everyone trading this system. I've made almost 900 pips this week trading this system on a part time basis. I wonder what I'd do if did this full time. always fun to dream though!

Have a great weekend everyone,

Chris
900pips !!! WOW!!!
  • #2,451
  • Edited 3:40pm Oct 20, 2007 9:21am | Edited 3:40pm
Quote:
Originally Posted by spin703 http://www.forexfactory.com/images/buttons/viewpost.gif
Imran, this inidicator loooks promising!!! gives real good entry points. I was wondering, if an audio alert could be program into it.???

Quoting imransait
well, thats the work of programmers here, come on guys , take this up
Find attached the MT4-LevelStop-Reverse indicator with (both optional) PopUp and/or Sound Alert.

During testing of this modification, I noticed a small bug which made this indicator double allert on a Signal on consecutive bars.
While you would not have noticed that an Arrow is being re-written to the screen, you would have been alerted twice by Audio.

I have fixed this small error and have double checked that the indicators functionality has not changed.

Cheers
Herbert
Attached File(s)
File Type: mq4 MT4-LevelStop-Reverse-vB0-4_Alert.mq4   12 KB | 856 downloads
  • #2,452
  • Oct 20, 2007 9:37am Oct 20, 2007 9:37am
Quoting HerbertH
Quote:
Originally Posted by spin703 http://www.forexfactory.com/images/buttons/viewpost.gif
Imran, this inidicator loooks promising!!! gives real good entry points. I was wondering, if an audio alert could be program into it.???



Find attached the MT4-LevelStop-Reverse indicator with (both optional) PopUp and/or Sound Alert.

During testing of this modification, I noticed a small bug which made this indicator double allert on a Signal on consecutive bars.
While you would not have noticed that an Arrow is being re-written to the screen, you would have been alerted twice by Audio.

I have fixed this small error and have double checked that the indicators functionality has not changed.

Cheers
Herbert
HI Herbert
thanks for the superquick fix,
also can you check ur PM, sent u reg EA, can we work on making a EA with entry and exit rules based on the laguerre and this indicator
also can u recheck this indicator, as the arrows are not coming
  • #2,453
  • Oct 20, 2007 10:20am Oct 20, 2007 10:20am
I trade on vt trader anyone know how I can get the stochhistro on that.
  • #2,454
  • Oct 20, 2007 11:09am Oct 20, 2007 11:09am
Quoting imransait
HI Herbert
thanks for the superquick fix,
also can you check ur PM, sent u reg EA, can we work on making a EA with entry and exit rules based on the laguerre and this indicator
also can u recheck this indicator, as the arrows are not coming
Imran, (check your PM please)

I have sent the author of this indicator an e-mail concerning the double alert bug I found and the fix I applied.
Because of the status of this indicator (Beta) maybe it's wise to do this as well for the arrows not comming issue you have seen?
Can you post a picture of such a stuation? I have not yet noticed any missing arrows.

Herbert
  • #2,455
  • Oct 20, 2007 12:22pm Oct 20, 2007 12:22pm
Hi Herbert!

Good Job. Thanks for this Indicator.
Can u explain a little how it work? or a link this about this Indicator Studies?
Thanks

Quoting HerbertH
Quote:
Originally Posted by spin703 http://www.forexfactory.com/images/buttons/viewpost.gif
Imran, this inidicator loooks promising!!! gives real good entry points. I was wondering, if an audio alert could be program into it.???

Find attached the MT4-LevelStop-Reverse indicator with (both optional) PopUp and/or Sound Alert.

During testing of this modification, I noticed a small bug which made this indicator double allert on a Signal on consecutive bars.
While you would not have noticed that an Arrow is being re-written to the screen, you would have been alerted twice by Audio.

I have fixed this small error and have double checked that the indicators functionality has not changed.

Cheers
Herbert
  • #2,456
  • Oct 20, 2007 12:55pm Oct 20, 2007 12:55pm
Quoting Numeral
Hi Herbert!

Good Job. Thanks for this Indicator.
Can u explain a little how it work? or a link this about this Indicator Studies?
Thanks
Numeral, I cannot take credits for the original indicator, it's not mine.
I mearly have added Alert options and fixed a small glich.

It's an ATR (Average True Range) based signaling system
From the sourcecode comments it reads:

"This is a combination of two VT Trader trading systems. The first is the default
VT-LevelStop-Reverse and the second is one that was modified to allow customizing
the ATR settings for calculating the stop line. I've tried to combine these 2
versions into a single MT4 indicator.
The default VT version allows you to use two modes, optimized, and manual.
Optimized mode calculates the stop line by using a 14 period EMA smoothed
ATR(14) multiplied by a fixed multiplier of 2.824. In manual mode, you set a
fixed number of pips you want the stop line to be drawn. In my MT4 version,
there are two modes:
1. ATR mode (customizable ATR period, multiplier, and smoothing)
2. Fixed stop mode (customizable fixed stop)"

Hope this helps
  • #2,457
  • Oct 20, 2007 2:58pm Oct 20, 2007 2:58pm
I do not wish to sound rude, since this is my first post. This system will NOT work at all in the few coming months. This is an OSC based system and will not prove in all market conditions. Don't want to put you guys down at all.
  • #2,458
  • Oct 20, 2007 3:02pm Oct 20, 2007 3:02pm
Hi everyone, I would like to learn how to build a ea anybody have site or book u can buy to learn the programming language to build a ea. I would like to try build a ea using imransait's system or is somebody already working on a ea for this amazing system.

Thanks all!

Chris
Push yourself to your fullest potential!!
  • #2,459
  • Oct 20, 2007 3:04pm Oct 20, 2007 3:04pm
how would the market conditions change squidster. just asking?
Push yourself to your fullest potential!!
  • #2,460
  • Oct 20, 2007 3:08pm Oct 20, 2007 3:08pm
Quoting Squidster
I do not wish to sound rude, since this is my first post. This system will NOT work at all in the few coming months. This is an OSC based system and will not prove in all market conditions. Don't want to put you guys down at all.
thanks for your comments, but if you would be kind enough to explain why this system will not prove in all market conditions, so we can all take preventive action, but as of now, it seems to work well atleast for me and i will continue to improve it with the help of all who are using this.
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