Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 135 | Forex Factory

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

  • #2,681
  • Oct 22, 2007 7:00am Oct 22, 2007 7:00am
G/J 1mins Lag2 goes up now
  • #2,682
  • Edited 7:09am Oct 22, 2007 7:03am | Edited 7:09am
Quoting imransait
pls do post ur charts, so we can analyse where you went wrong, i placed 5 trades today and all are +50 and above, so untill i see ur charts i cant tell

check the rules on post#1 for entry

60 and 200 ema i consider them as support and resistance
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? I think trading off 1M would just reduce my profit level which I don't really mind so far my pips are green and not red.

Also, what are the Laguerre gamma settings to be used for the 5M as they seem not ok for 0.85 and 0.6

I am even using your template and adjusted the LAGUERRE 1 to gamma 0.6 according to your advise on the forum for Hakuna Matata.

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

Are you saying it's best for me to trade on 5M rather than 1M chart considering my broker spreads?

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

Here are some charts of where I entered and exited some trades. Kindly let me know where the problems are. The time is +3 GMT for the platform.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd1.gif Size: 28 KB
Click to Enlarge Name: gbpjpy1.gif Size: 29 KB
Trading Just Got Easier...
  • #2,683
  • Oct 22, 2007 7:08am Oct 22, 2007 7:08am
Quoting walesoje1
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? I think trading off 1M would just reduce my profit level which I don't really mind so far my pips are green and not red.

Also, what are the Laguerre gamma settings to be used for the 5M as they seem not ok for 0.85 and 0.6

I am even using your template and adjusted the LAGUERRE 1 to gamma 0.6 according to your advise on the forum for Hakuna Matata.

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

Are you saying it's best for me to trade on 5M rather than 1M chart considering my broker spreads?

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

Here are some charts of where I entered and exited some trades. Kindly let me know where the problems are. The time is +3 GMT for the platform.
Hi

take time to go thru this thread for samples of trade what others have taken and why they have taken it, also study the rules and details of entry and exit in Post #1

5 min will be best for all , 1 min chart is only for experienced and those whose spread is less then 4
  • #2,684
  • Oct 22, 2007 7:10am Oct 22, 2007 7:10am
before i could even post my entry, it shooted up and hit my 100 pip target which i had set...today is a grand day for all of us..down , down and down and now up
it touched the 200 ema on 5min and down again...am riding it down again
below chart of 1 min where i entered and exited on the blue and red arrows
i am not supposed to post any 1 min chart..but this had to be shown
Attached Image (click to enlarge)
Click to Enlarge Name: 1min.gif Size: 25 KB
  • #2,685
  • Oct 22, 2007 7:11am Oct 22, 2007 7:11am
Quoting imransait
looks to be a reversal sign..US open is very close..so enter at ur own risk
watch those shadows of candle...price seems to have bounced
Imransait: HOw do we set the ALARM? It doesn't make a sound....thanks in advance!
  • #2,686
  • Oct 22, 2007 7:17am Oct 22, 2007 7:17am
Quoting 4xplosion
Imransait: HOw do we set the ALARM? It doesn't make a sound....thanks in advance!
which indicator is that.pls contact the creator or the programmer who posted it
  • #2,687
  • Oct 22, 2007 7:22am Oct 22, 2007 7:22am
hope all of u are making pips...its been a wonderful day...some people make this many pips in a month..some in a year...we have made today in one day
  • #2,688
  • Oct 22, 2007 7:24am Oct 22, 2007 7:24am
Hi everyone,
What do you think will happen when NY joins in?
  • #2,689
  • Oct 22, 2007 7:26am Oct 22, 2007 7:26am
Quoting jlimkw
Hi everyone,
What do you think will happen when NY joins in?
depends on what the DOW opens....so trade at ur discretion..its going to be very violent
  • #2,690
  • Oct 22, 2007 7:27am Oct 22, 2007 7:27am
Quoting imransait
hope all of u are making pips...its been a wonderful day...some people make this many pips in a month..some in a year...we have made today in one day
good day !!!
  • #2,691
  • Oct 22, 2007 7:28am Oct 22, 2007 7:28am
anyone still use this system on 15min chart? and does it work with a good %?

thx
  • #2,692
  • Oct 22, 2007 7:29am Oct 22, 2007 7:29am
Quoting imransait
hope all of u are making pips...its been a wonderful day...some people make this many pips in a month..some in a year...we have made today in one day

Not all of us. I think I need help to get along so we can all go green.
Trading Just Got Easier...
  • #2,693
  • Oct 22, 2007 7:30am Oct 22, 2007 7:30am
Quoting imransait
depends on what the DOW opens....so trade at ur discretion..its going to be very violent
futures market indicates fall !
  • #2,694
  • Oct 22, 2007 7:30am Oct 22, 2007 7:30am
imranait: I'm sorry, I was referring to the Stochastic...it's a metatrader indicator...I don't know how to turn the alarm on to make sound...I'm new to metatrader...thanks
  • #2,695
  • Oct 22, 2007 7:31am Oct 22, 2007 7:31am
Quoting felipeds
futures market indicates fall !
am ready for that..one position already short from 231.90
Open TP
  • #2,696
  • Oct 22, 2007 7:38am Oct 22, 2007 7:38am
Imran, the short position you took, was it based on the indicators or your view of the likley direction in light of market sentiment based on the Dow futures being down?
  • #2,697
  • Edited 7:50am Oct 22, 2007 7:40am | Edited 7:50am
Hi Group,

to those of you that are using Dynamite Sentimentor (or: DySen for short) or any of the white label spin-offs of this package (IQ-Trader, FutureStation, GlobalTrader, etc):

I have implemented Laguerre_RSI for these platforms. You need the Express module to run this code.
Just copy the .TXT file in your ..\express\ folder and press F5 on the workspace bar to let the application refresh itself. After that, you'll be able to add "oc_LaguerreRSI" to your studies.

Please note: I've not implemented the signal generation just yet, as I'm currently experimenting with filtering techniques. So this package only draws both Laguerre's as per Imran's instructions (in a single sub-window to save screen real estate... See picture below....) I've hard coded thresholds of 0.1 and 0.9. Gamma for both LaguerreRSI's can be changed, but default to the values specified by Imran.

Enjoy
Ohka

P.S. As I don't like incomplete code to live forever, this indicator expires at the end of the year. New releases will have expiry dates furhter down the line, untill a complete and fully debugged implementation is available, which then will not carry an expiry date.
Attached Image (click to enlarge)
Click to Enlarge Name: IQ_Trader_Laguerre.jpg Size: 168 KB
Attached File(s)
File Type: zip oc_LaguerreRSI.zip   4 KB | 555 downloads
  • #2,698
  • Oct 22, 2007 7:41am Oct 22, 2007 7:41am
Quoting rocwell
Imran, the short position you took, was it based on the indicators or your view of the likley direction in light of market sentiment based on the Dow futures being down?
purely market sentimement and the still very bearish price movement
  • #2,699
  • Oct 22, 2007 7:44am Oct 22, 2007 7:44am
Quoting imransait
purely market sentimement and the still very bearish price movement
Thanks, Just trying to make sure my interpretation of the charts is accurate
  • #2,700
  • Oct 22, 2007 7:47am Oct 22, 2007 7:47am
this pair is other option for the system, big volatility.. !
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