Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 137 | Forex Factory

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

  • #2,721
  • Oct 22, 2007 8:21am Oct 22, 2007 8:21am
Sounds great...I've already got a skype account, sign me up!!!

Quoting imransait
not yet..starting a free skype group soon with signals
  • #2,722
  • Oct 22, 2007 8:24am Oct 22, 2007 8:24am
Quoting walesoje1
Imran, you asked me to post some charts and I have done it. Kindly check post #2682 and let me know where I went wrong.
i will do tonight and send u the charts here..right now..dont use 1min and pls study the entry rules once again
  • #2,723
  • Oct 22, 2007 8:29am Oct 22, 2007 8:29am
you must be able to discern the bias of the mkt.
in a Downtrend,Long signals are COUNTER TREND and far riskier than trading with the trend.
be sure to look back at the last RED LAG signal and compare with price action and slope of the 2 MA (red and blue) to see what the predominant trend is for the TF of the chart u r viewing.
good idea for a FIRST Trade is to wait till both lags are at the same extreme level (up or down) for several bars then take the signal from the blue lag.
at least u will have a better chance of starting with a profitable trade. those dont happen as often but they do happen so be patient.


Quoting walesoje1
Imran, you asked me to post some charts and I have done it. Kindly check post #2682 and let me know where I went wrong.
  • #2,724
  • Oct 22, 2007 8:30am Oct 22, 2007 8:30am
Quoting imransait
i will do tonight and send u the charts here..right now..dont use 1min and pls study the entry rules once again

Imran, I got some screenshot here for the GBPJPY where the 5M confirms a buy with the Laguerre but the 15M is trending up... What should be done in this case?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy2.gif Size: 26 KB
Click to Enlarge Name: gbpjpy3.gif Size: 27 KB
Trading Just Got Easier...
  • #2,725
  • Oct 22, 2007 8:41am Oct 22, 2007 8:41am
ok, sudden up appear, what the hell is this?!
  • #2,726
  • Oct 22, 2007 8:43am Oct 22, 2007 8:43am
Good morning everyone,

Somebody gave me the link to this tread yesterday and I'm stunned. Wow 182 pages and 2722 posts in less than a month ... and how many pips ... I don't know ... but well enough !

Congratulation and thanks Imran to share this method here, that's wonderfull.

Obvioustly I have a lot to catch and as English is not my mother language it will take me some days so I will not disturb you with a lot of questions as you are pretty busy making pips today continue your good job.

Hope I will not be lost in the multitude of posts but will set up my charts today and begin to test by myself

Have a good day ... and see you later for sure.

AL
AL
  • #2,727
  • Oct 22, 2007 8:44am Oct 22, 2007 8:44am
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.
On your first chart, you entered because of the Lag.1 (blue) signal, while at the same the Lag.2 (red) is going in an opposite direction. Also, the Bollinger bands are slightly contracting (and pointing down for that matter...). Contracting Bollinger bands mean reducing volatility, it's generally preferred to not open a position into contracting Bollinger Bands - unless, perhaps, a significant breakout is just developing.

On the second chart, you entered a long, again because of the Lag.1 signal, at a moment that the EMA60 just had crossed below the EMA200 and both were showing that the trend was about to turn down. This counter-trend entry point was also very close to those two EMA's, so you'd have resistance directly above your entry point...

Happy trading
Ohka
  • #2,728
  • Oct 22, 2007 8:49am Oct 22, 2007 8:49am
Quoting Tw0eleven
Sounds great...I've already got a skype account, sign me up!!!
SIGN ME UP...I'VE GOT A SKYPE ACCOUNT!!!
  • #2,729
  • Oct 22, 2007 9:03am Oct 22, 2007 9:03am
imransait, what if all indicator is pointing down but not on top or bottom level, should I take the short trade ?
  • #2,730
  • Oct 22, 2007 10:02am Oct 22, 2007 10:02am
Quoting imransait
guys.am back...
whew...who told making pips is easy...i am sweating here...too tired of making pips man....its real hard work...hehehe
Heloo Imran,

all more it is stopped now.
  • #2,731
  • Oct 22, 2007 10:03am Oct 22, 2007 10:03am
Quoting imransait
guys.am back...
whew...who told making pips is easy...i am sweating here...too tired of making pips man....its real hard work...hehehe
dont take away all the pips,pls keep some for us,ya? more charts of your trades pls imran,thanks
  • #2,732
  • Oct 22, 2007 10:03am Oct 22, 2007 10:03am
I second that! Between late last night and this morning, I'm up 70pips!!! Still haven't figured out how to maximize profits yet...just trying to be consistent on the entry rules and having winning trades right now. But this method is great Imransait! Thanks again for sharing!

Quoting imransait
guys.am back...
whew...who told making pips is easy...i am sweating here...too tired of making pips man....its real hard work...hehehe
  • #2,733
  • Oct 22, 2007 10:08am Oct 22, 2007 10:08am
Quoting fxking
dont take away all the pips,pls keep some for us,ya? more charts of your trades pls imran,thanks
here is the chart....of the trades i took as per rules
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.gif Size: 29 KB
  • #2,734
  • Oct 22, 2007 10:18am Oct 22, 2007 10:18am
Quoting imransait
here is the chart....of the trades i took as per rules
I am in for the last short entry, how far do you think it is going to drop? as daily S3 already broken, how could we measure where is the price going to land now ?!
  • #2,735
  • Oct 22, 2007 10:18am Oct 22, 2007 10:18am
Market has slowed down considerably, but today has already been a good day!

Happy pipping,
Fx Diva
  • #2,736
  • Oct 22, 2007 10:18am Oct 22, 2007 10:18am
Quoting imransait
here is the chart....of the trades i took as per rules
Amazing Imran..... thanks for the chart
I've noticed that the ZeroLag-Stoch can take you out of a trade a bit sooner - and in case of your chart a bit more profitable...

Ohka
  • #2,737
  • Oct 22, 2007 10:19am Oct 22, 2007 10:19am
what they thinks?
Attached Image (click to enlarge)
Click to Enlarge Name: aud_jpy.gif Size: 21 KB
  • #2,738
  • Oct 22, 2007 10:20am Oct 22, 2007 10:20am
Hi,
Thank you for sharing your excellent strategy, your trades and for taking the time to help us to understand your strategy. I installed both the Laguerre Alert Indicator by Chandra and the LIPSA Indicator with the Laguerre.mq4 in the indicators folder but I’m not seeing any arrows.
Once again thanks for all your help and if there is anyway I can help you just ask
Philn
  • #2,739
  • Oct 22, 2007 10:22am Oct 22, 2007 10:22am
Quoting felipeds
what they thinks?
if in any trade , bank in whatever profits you get, market is very volatile
moves are unpredictable..if DOW closes in negative today...look for asian stocks again today night for direction...me think that we could see 229 very soon..a day or two..but not till has retraced maybe to 232.80 area
  • #2,740
  • Oct 22, 2007 10:39am Oct 22, 2007 10:39am
pls can someone assist am finding it difficult to attach the .ex4 to my chart.
kindly give me the step by step
am using northfinance
thanks
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