Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 127 | Forex Factory

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

  • #2,521
  • Oct 21, 2007 11:51am Oct 21, 2007 11:51am
Quoting peterdxb
Imran,

i have download template from post1, but the parameters seems different then you mentioned below;

on my chart Lag1=0.55 and Lag2=0.85

i correct myself, it was a typo, the correct setting for Lag-2 is : 0.85 gamma
  • #2,522
  • Oct 21, 2007 12:16pm Oct 21, 2007 12:16pm
market is closed still, but it has BUY possibility, they see red lag.
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  • #2,523
  • Oct 21, 2007 12:20pm Oct 21, 2007 12:20pm
Quoting felipeds
market is closed still, but it has BUY possibility, they see red lag.
I would wait for market to open, and see for 1hr before entering any trade
need to keep a watch for Stocks in AUS/NZ/Japan/China
  • #2,524
  • Oct 21, 2007 12:28pm Oct 21, 2007 12:28pm
Quoting imransait
I would wait for market to open, and see for 1hr before entering any trade
need to keep a watch for Stocks in AUS/NZ/Japan/China
Imran ,

you know some site to follow all the world-wide markets?
  • #2,525
  • Oct 21, 2007 12:37pm Oct 21, 2007 12:37pm
Quoting felipeds
Imran ,

you know some site to follow all the world-wide markets?
finance.yahoo.com
cnbc.com
bloomberg.com
  • #2,526
  • Oct 21, 2007 12:41pm Oct 21, 2007 12:41pm
Imransait, what broker do you use? I've noticed you posted the spread on the Gbp/Jen was very low. Thanks

Brian
  • #2,527
  • Oct 21, 2007 12:49pm Oct 21, 2007 12:49pm
Imran,

what are your timings u available online ? and are you available on Yahoo conference ?

i think you are in Kuwait right ?

i am in UAE (Dubai GMT+4)
  • #2,528
  • Oct 21, 2007 12:57pm Oct 21, 2007 12:57pm
Quoting imransait
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

let me check the template, it should have been same as i mentioned above, if not will change and upload again
hello imran - you make confuse me, I read all tread and i see you change gamma and levels many time. Can u tell clear one more time plz. Is it be 0.55 (1) and 0.85 (2) with both got levels 0.85, 0.45, 0.15 OR is it be 0.55(1) and 0.80 (2) with both got levels 0.10, 0.90. Thx for clear up my confuse
  • #2,529
  • Oct 21, 2007 2:27pm Oct 21, 2007 2:27pm
Hello Imransait, my broker currently offer 7 pip spread on GBPJPY. Are you saying it's best for me to trade on 5M rather than 1M chart?

Also, what are the Laguerre settings to be used for the 5M as they seem not ok for 0.85 and 0.6
Trading Just Got Easier...
  • #2,530
  • Oct 21, 2007 2:49pm Oct 21, 2007 2:49pm
Quoting driftwood
hello imran - you make confuse me, I read all tread and i see you change gamma and levels many time. Can u tell clear one more time plz. Is it be 0.55 (1) and 0.85 (2) with both got levels 0.85, 0.45, 0.15 OR is it be 0.55(1) and 0.80 (2) with both got levels 0.10, 0.90. Thx for clear up my confuse
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.10, 0.90, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.10, 0.90 bars to read 9500, color red

These settings are same for all timeframes from 5min upwards
  • #2,531
  • Oct 21, 2007 2:51pm Oct 21, 2007 2:51pm
Quoting mrpip05
Imransait, what broker do you use? I've noticed you posted the spread on the Gbp/Jen was very low. Thanks

Brian
I use MBT/EFX as my broker, the spreads for gbp/jpy are 1-3 pips apart from the commission, and liquidity is very good...their spreads are always 2-3 pips better than what i get to see on other brokers
  • #2,532
  • Oct 21, 2007 3:38pm Oct 21, 2007 3:38pm
Quoting imransait
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.10, 0.90, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.10, 0.90 bars to read 9500, color red

These settings are same for all timeframes from 5min upwards
hello imran - thx for clear way
  • #2,533
  • Oct 21, 2007 3:54pm Oct 21, 2007 3:54pm
Quoting Derm
I was finding myself trying to look at to many currencies and missing moves. I wanted to concentrate on a few, but which ones?

I came up with this table as a tool to help me choose 6 curencies, (which are highligted in green).

It was an experiment to see which pairs had the highest liquidity and the greatest average daily pip movement. I then put my broker spreads into the equation as added information to help me rate each pair.

The final rating shows which pairs (historically) have the greatest daily movement, together with the greatest liquidity and give the best value as per the brokers I use. Most of the information is probably what I expeced but it's good to have it on my wall for reference.

Although the purpose was to find 'my six', it really helped me to highlight the ones I really should not be wasting my time on.
Derm,

after checking out your Excel sheet, I wonder why you use 'volume' as one of the metrics.
Since there is no such thing as a single regulated FX market, any volume information can only refer to the number of lots your broker is publishing. This can only be a tiny fraction of a minute part of total FX volume and there is no guarantee whatsoever that the volume distribution over all pairs as published by your broker mirrors the volume distribution over the FX market as a whole.
For this reason, I don't think it's a good thing to use volume at all....

Best trading wishes for the upcoming week,
Ohka
  • #2,534
  • Oct 21, 2007 3:59pm Oct 21, 2007 3:59pm
Hi,

is IBFX opening the trading week an hour later than the rest? I've had a live quote feed from Oanda for an hour now (you gotta love these initial Oanda spreads... ), and IBFX is not yet active? If this is true, then I cannot scalp opening gaps at the beginning of the week via IBFX....

confused,
Ohka
  • #2,535
  • Oct 21, 2007 4:12pm Oct 21, 2007 4:12pm
Quoting Ohka
Hi,

is IBFX opening the trading week an hour later than the rest? I've had a live quote feed from Oanda for an hour now (you gotta love these initial Oanda spreads... ), and IBFX is not yet active? If this is true, then I cannot scalp opening gaps at the beginning of the week via IBFX....

confused,
Ohka
usually the forex market opens at 5 pm EST, some brokers thou open at 4 PM EST, so it will take some time for others to open
  • #2,536
  • Oct 21, 2007 4:22pm Oct 21, 2007 4:22pm
Thanks Imran,

usually I'm trading via Oanda. Now that I found your system, I got an account at IBFX to test it - and only then found out about those market opening time differences.

thanks again!

Ohka
  • #2,537
  • Oct 21, 2007 4:28pm Oct 21, 2007 4:28pm
guys
the market is very volatile and volumes are very thin, this is not good for trading, hold on till London Open to take any trades
I am off for now, see u all in London Open
  • #2,538
  • Oct 21, 2007 4:39pm Oct 21, 2007 4:39pm
Just want to see if this would be a good entry, i threw one in on the demo. Its the last red arrow on the right. all 3 are in agreement, even though its early in the week. sunday afternoon here

jms
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  • #2,539
  • Oct 21, 2007 5:18pm Oct 21, 2007 5:18pm
Omg how did this happens ? I made 120 pips like this!!
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  • #2,540
  • Oct 21, 2007 5:19pm Oct 21, 2007 5:19pm
G7...gap down
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