Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 129 | Forex Factory

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

  • #2,561
  • Oct 21, 2007 6:43pm Oct 21, 2007 6:43pm
ok...got "shook" outa that 1.
  • #2,562
  • Oct 21, 2007 6:43pm Oct 21, 2007 6:43pm
Quoting Hansbrocks
I can't say I am right, it might have been plain luck but here is what I did :

I went short after the prices crossed the daily pivot. I stayed like that for a while ; price didn't seem to want to cross it back up.

I got lucky about the move, I could not have predicted that 100 pips.

Although, I knew that when it happened, it would come back up at one point, and that what I did : close , then buy for 20 pips ( I should have more, but hey!).
thank you for your promt reply. nice trade. congratulations.
  • #2,563
  • Oct 21, 2007 6:48pm Oct 21, 2007 6:48pm
Quoting imransait
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


Imran, how are you doing today? I am with 2 different brokers that offers only 8 pips spread and 10 pips spread from GBPJPY. Would you advise I trade GBPUSD with your trading system or do you think it would be ok to use the account with 8 pips spread?

Also, I have tried 3 different trades and they all went against me. I am even using your template and adjusted the LAGUERRE 1 to gamma 0.6 according to your advise on the forum.

Can you please give detailed information on entry and exits and if you consider other time frames before entering trade.

You said you use 200EMA and 60EMA to filter the trades so kindly let me know how you use it and what you consider with other time frames.

We all need to go green and work towards making this system better.

Do you advise using daily pivots too?

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, if that is what I should use instead of 1M because of my spread, as they seem not ok for 0.85 and 0.6
Trading Just Got Easier...
  • #2,564
  • Oct 21, 2007 6:56pm Oct 21, 2007 6:56pm
Quoting Hansbrocks
I can't say I am right, it might have been plain luck but here is what I did :

I went short after the prices crossed the daily pivot. I stayed like that for a while ; price didn't seem to want to cross it back up.

I got lucky about the move, I could not have predicted that 100 pips.

Although, I knew that when it happened, it would come back up at one point, and that what I did : close , then buy for 20 pips ( I should have more, but hey!).
Yea, once again . . . real sweet move. What a system!

Happy pipping.
Fx Diva
  • #2,565
  • Oct 21, 2007 6:58pm Oct 21, 2007 6:58pm
Quoting Hansbrocks
Right now, GBPJPY crossing down monthly pivot, im going long soon after it stops going down for retracement.
Is that the what the bold red line is?

Happy pipping.
Fx Diva
  • #2,566
  • Oct 21, 2007 7:03pm Oct 21, 2007 7:03pm
As I said a couple post earlier, look at this chart :

find the "(1)" on the chart : after it stops going down I go long. It goes up till the monthly pivot "(2)". At this point, I close and went short again"(3)"
Attached Image (click to enlarge)
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  • #2,567
  • Oct 21, 2007 7:05pm Oct 21, 2007 7:05pm
Quoting fxdiva
Yea, once again . . . real sweet move. What a system!

Happy pipping.
hello fxdiva - can you tell me broker you are use plz? Can u tell me what is wrong with my chart i post above before that i didnt see imran system short trade? Thx.
  • #2,568
  • Oct 21, 2007 7:10pm Oct 21, 2007 7:10pm
Quoting Hansbrocks
As I said a couple post earlier, look at this chart :

find the "(1)" on the chart : after it stops going down I go long. It goes up till the monthly pivot "(2)". At this point, I close and went short again"(3)"
hello Hansbrocks - These most excellent trades be youre own system no imran system - yes?
  • #2,569
  • Oct 21, 2007 7:13pm Oct 21, 2007 7:13pm
Quoting driftwood
hello Hansbrocks - These most excellent trades be youre own system no imran system - yes?
Yes, I am just using his indicators, mostly the resistance/support and pivots to know what to do next.
  • #2,570
  • Oct 21, 2007 7:16pm Oct 21, 2007 7:16pm
Quoting Hansbrocks
Yes, I am just using his indicators, mostly the resistance/support and pivots to know what to do next.
Thx.
  • #2,571
  • Oct 21, 2007 7:18pm Oct 21, 2007 7:18pm
I did not follow the Laguerre on these trades though, I am learning how they work.
  • #2,572
  • Edited 8:06pm Oct 21, 2007 7:29pm | Edited 8:06pm
Hi All,

I have added the following compiled program to my LISPA thread first post. Whoever wish to use all the alert/message setup of LISPA for ASC, can get it from there.
http://www.forexfactory.com/showthread.php?t=51635

chandra
========================================
Chandra-Signal-Alert-System.ex4:
This new alert program has been added on 21-Oct-07.
It is made from LISPA and at present set to use ASCTrend1sig-imran.ex4 signals as default.
It is not necessary to attach the ASC indicator to the chart, but the file should be present (get it from http://www.forexfactory.com/showpost...postcount=2341 ).
This alert system will use the ASC indi and create alerts/messages identical to LISPA.
The signal has been made to come only after the bar closes and will appear on the new bar.
Please report any problems about this program here.

It is designed to be used with any signal generating indicator. But does not work with MT4-LevelStop-Reverse indicator (its signals are not normal indicator type, instead they are individual pictures). A different alert for this has been posted by HerbertH at http://www.forexfactory.com/showpost...postcount=2451
  • #2,573
  • Oct 21, 2007 7:41pm Oct 21, 2007 7:41pm
took some profit at R1, BB
Attached Image (click to enlarge)
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  • #2,574
  • Oct 21, 2007 7:44pm Oct 21, 2007 7:44pm
loing signal that generated a small loss was the one that occurred between the 2 RBs on MACD
  • #2,575
  • Edited 8:30pm Oct 21, 2007 7:44pm | Edited 8:30pm
gbp/jpy 5 min 8:15 pm est

Does anyone see this long, leg#1 crossed 10 and jumped to 45 and above
now leg #2 is starting to turn up for over 40 pips. looked like a mini triangle
breakout. or am i wrong? oh, and histogram went green a little late. breakout occured about 8:15 et. Leg 1 seemed to cross 0.10 line a few minutes before the breakout.
  • #2,576
  • Oct 21, 2007 7:52pm Oct 21, 2007 7:52pm
buying is still counter trend so if it moved 30+ pips already and u r still holding some long, i wouldn't bet the farm.

might fill gap eventually or might not.
  • #2,577
  • Oct 21, 2007 7:56pm Oct 21, 2007 7:56pm
Quoting driftwood
hello fxdiva - can you tell me broker you are use plz? Can u tell me what is wrong with my chart i post above before that i didnt see imran system short trade? Thx.
I'm using Interbankfx who has a pretty high spread of 9pips, but if you getting 200+ pips a day, who cares :

So far g/j is the only currency that I'm trading, I'll probably try to add e/j and or cable this week.

Looks like your chart is missing the stochistogram. Remember Sunday is a bit odd for trading, but if you follow the signals, you should still do well.

Happy pipping,
Fx Diva
  • #2,578
  • Oct 21, 2007 7:57pm Oct 21, 2007 7:57pm
red leg crossed the 10 line ending the trade i think. please let me know, I'm all new at this
  • #2,579
  • Oct 21, 2007 8:00pm Oct 21, 2007 8:00pm
provided USD weakness continues, u might wanna also look at U/J.
Euro is at key point vs the dollar. if it breaks above4340 and maintains,we will see more E/U upside. it it breaks and stays below 4320; prolly will top out around that area.

Either way,
Quoting fxdiva
I'm using Interbankfx who has a pretty high spread of 9pips, but if you getting 200+ pips a day, who cares :

So far g/j is the only currency that I'm trading, I'll probably try to add e/j and or cable this week.
  • #2,580
  • Oct 21, 2007 8:05pm Oct 21, 2007 8:05pm
Quoting fx_ninja
provided USD weakness continues, u might wanna also look at U/J.
Euro is at key point vs the dollar. if it breaks above4340 and maintains,we will see more E/U upside. it it breaks and stays below 4320; prolly will top out around that area.

Either way,
Okay, thanks for the heads up. I'll definitely be on the lookout.

Happy pipping,
Fx Diva
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