Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 146 | Forex Factory

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

  • #2,901
  • Oct 23, 2007 8:53am Oct 23, 2007 8:53am
3 trades +25 pips.
Life is a game, play it well, their is no restart!
  • #2,902
  • Oct 23, 2007 8:55am Oct 23, 2007 8:55am
Short @ 235.15fingers crossed!
  • #2,903
  • Oct 23, 2007 8:57am Oct 23, 2007 8:57am
Quoting rocwell
Short @ 235.15fingers crossed!
I was wonder about the yin crosses, after we had that little moveup, i got out.


SHOULD I STILL BE IN? Lag 2 never started to point down and got me a little scared.
Life is a game, play it well, their is no restart!
  • #2,904
  • Oct 23, 2007 8:58am Oct 23, 2007 8:58am
Strong Support at 234.50 round number as you know. Good Luck
  • #2,905
  • Oct 23, 2007 9:03am Oct 23, 2007 9:03am
lag 2 has pointed down on tgbpjpy. is this ok to re-enter a short postion again?
Life is a game, play it well, their is no restart!
  • #2,906
  • Edited 9:24am Oct 23, 2007 9:13am | Edited 9:24am
Price bounced off of lower bollinger band and 38.2 fib at 234.65 good call. lag 1 gave a sell signal at 235.30 histogram confirmed. There seems to be a 30 point swing before the sell signal.
  • #2,907
  • Oct 23, 2007 9:30am Oct 23, 2007 9:30am
Hello All, Looking for some basic clarification, I see many different levels on the Laguerre Levels. I mostly trade the GBP/JPY and EUR/JPY on a 5 minute chart and I was under the impression the levels for the fast Lag were .10, .45 and .90.....However I slao see .75, .45 and .15 ....If someone could clear this up it would be appreciated. Also, I have my Gamma set at .65 on the fast Lag for these specific pairs on a 5 min chart. Any feedback would be appreciated. Thanks
  • #2,908
  • Oct 23, 2007 9:36am Oct 23, 2007 9:36am
Imran, I have some additional information as to when trades should be placed/executed. Let me know if these are perfect and if need be, add more for us.
_______________________

Do you want to enter trade with little risk? There are some things to be considered. Some have been posted already in this thread but I would quickly want to run a list for you.

 

  1. Check a higher time frame before you enter trade i.e. if using 1M check 5M and confirm the trend before entering your trade
  2. Ensure you are not against any barriers which could be Fibonacci, Pivots or the EMAs.
  3. Ensure the EMAs are not moving close
  4. If the 60EMA is above the 200EMA, long trades will be really profitable
  5. If the 60EMA is below the 200EMA, short trades will be the best
    (The last 2 rules above are to ensure you are entering trade in the right direction. Although we are scalping and main trend is not really our focus but for those who want 95% success, stick to it)
  6. If candles are between the EMAs then the upper EMA acts as resistance while the other acts as support.
  7. Let your LAGUERRE 1 and 2 and your Stochastic Histogram all align before entering trade in either direction

If all these are in place, then be sure your trade is 95% profitable.

N.B. Ensure you are not trading 30 mins before and after the news as the market goes quit before the news and tries to retraces after news.

Although this reduces the number of trades you can enter but they are definitely going to bring GREEN PIPS for you.

Trading Just Got Easier...
  • #2,909
  • Oct 23, 2007 9:37am Oct 23, 2007 9:37am
I like the 90 - 10 setting because they get you in sooner. I think Imran set them at 85 - 15 to be more sure of a proper signal. I could be wrong. the red lag settings should be .15 .85 .45 also. with the 0.80 gamma
  • #2,910
  • Oct 23, 2007 9:38am Oct 23, 2007 9:38am
Quoting Barracuda
Hello All, Looking for some basic clarification, I see many different levels on the Laguerre Levels. I mostly trade the GBP/JPY and EUR/JPY on a 5 minute chart and I was under the impression the levels for the fast Lag were .10, .45 and .90.....However I slao see .75, .45 and .15 ....If someone could clear this up it would be appreciated. Also, I have my Gamma set at .65 on the fast Lag for these specific pairs on a 5 min chart. Any feedback would be appreciated. Thanks
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.15, 0.85,0.45 bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.15, 0.85, 0.45 bars to read 9500, color red

For the Lags Enable Fixed maximum (~1.05) and fixed minimum (~-0.05) on in the Common tab of the Laguerre indicator
  • #2,911
  • Oct 23, 2007 9:40am Oct 23, 2007 9:40am
Quoting Barracuda
Hello All, Looking for some basic clarification, I see many different levels on the Laguerre Levels. I mostly trade the GBP/JPY and EUR/JPY on a 5 minute chart and I was under the impression the levels for the fast Lag were .10, .45 and .90.....However I slao see .75, .45 and .15 ....If someone could clear this up it would be appreciated. Also, I have my Gamma set at .65 on the fast Lag for these specific pairs on a 5 min chart. Any feedback would be appreciated. Thanks


Hello Barracuda,

What you should do is to back test it. Also, note that the faster an indicator is, the more risk it has to whipsaws thereby signaling wrong entry and exit points for you.

Happy Trading
Trading Just Got Easier...
  • #2,912
  • Oct 23, 2007 9:41am Oct 23, 2007 9:41am
Guys - Lots of confluence at the 234.40 to 234.60 level ...lower bollinger band,38.2 then %50 level AND 235.50 round number. not my favorite place to go short. %50 fib is at 234.35
  • #2,913
  • Oct 23, 2007 9:42am Oct 23, 2007 9:42am
Quoting behof
Hi Folks !

At the moment I'm experimenting with a different trade setup in which the
Laguerre indicator plays a central role

I'm demoing since a week and so far its looking good...

I will prepare a PDF-Document with a lot of sample trades and
a short description regarding the setup.

I'm not in a hurry, because you guys and gals are flooded with sweet pips every day... so I take my time

I'm working fulltime and have no access to the charts during the day

So I concentrate on trading after work......

I'm planning to start in January 2008 with my real account to make
some real bucks......

It's not a challenge but I would proof you guys and gals and also
imran that this is the most important trading approach I've seen
before.......

Greetings and happy pippin

Bernhard
Hi Bernhard

send me the setup, let me check it up along with you , if it works good and enhances this method, we can add into it. email me
  • #2,914
  • Oct 23, 2007 9:50am Oct 23, 2007 9:50am
Quoting FXNorm
Guys - Lots of confluence at the 234.40 to 234.60 level ...lower bollinger band,38.2 then %50 level AND 235.50 round number. not my favorite place to go short. %50 fib is at 234.35

You could actually have gone in when the Level Stop and Reversal, Lag 1 and Stoch Histogram confirms sell on the 5M chart. You are actually trading a Fib retracement.

I shorted at 234.93 when the 15M Fib has confirmed it is retracing so I have bagged 15 pips already now on my 8 pips spread. If it was Imran broker, then I would be having about 20 pips already and still waiting for about 30 pips short movement.
Trading Just Got Easier...
  • #2,915
  • Oct 23, 2007 9:52am Oct 23, 2007 9:52am
Thanks for feedback everyone
  • #2,916
  • Oct 23, 2007 10:00am Oct 23, 2007 10:00am
Price is trying to go below Daily S1 at 234.55 , once it goes, next resistance is at 233.75 and then at montly pivot at 232.82
I am short from 235.15 SL is 235.50
  • #2,917
  • Oct 23, 2007 10:03am Oct 23, 2007 10:03am
Plan A
Attached Image (click to enlarge)
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  • #2,918
  • Oct 23, 2007 10:05am Oct 23, 2007 10:05am
I will consider buying at 38.2 which is the future rt shoulder and letter C. (233.65) or may even get to the 50%
edit...Wont trade unless one or the other plays out.
Attached Image (click to enlarge)
Click to Enlarge Name: Plan B.jpg Size: 156 KB
  • #2,919
  • Oct 23, 2007 10:06am Oct 23, 2007 10:06am
Quoting PipChick
Plan A
thanks, pipchick and welcome to the thread
your views and analysis are always welcome...gives us something to keep in front of us when we take the trades
  • #2,920
  • Oct 23, 2007 10:13am Oct 23, 2007 10:13am
Quoting imransait
Price is trying to go below Daily S1 at 234.55 , once it goes, next resistance is at 233.75 and then at montly pivot at 232.82
I am short from 235.15 SL is 235.50
Am also short from 233.15

Looking at price movement at the moment, what do you think the chances are of a return to the bear market moves?
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