Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 153 | Forex Factory

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

  • #3,041
  • Oct 24, 2007 12:25am Oct 24, 2007 12:25am
Quoting grkbear
Hey Imran,

I was offline with the quotes from MB Trading/EFX and could not close or open any trades. Were you also offline on the quotes or was anyone else that uses them offline. I was attempting to scale down a position when it happened. I will now have to wait since price is back up.
yes, now they are online again..something with their quote server
  • #3,042
  • Oct 24, 2007 12:30am Oct 24, 2007 12:30am
going to 30 pips now!!!

yeah.... this is the best system that i was know,hehehe....

t/p 40 pips,and......gotcha!!

exit @ 114.28,just like what u say
  • #3,043
  • Oct 24, 2007 12:33am Oct 24, 2007 12:33am
Quoting bogel
going to 30 pips now!!!

yeah.... this is the best system that i was know,hehehe....

t/p 40 pips,and......gotcha!!

exit @ 114.28,just like what u say
locking in pips is the most difficult thing to do , but u start to do this on every trade and then u see that u can open ur own bank soon account really grows
  • #3,044
  • Oct 24, 2007 12:33am Oct 24, 2007 12:33am
waiting another signal now!

btw,this is my lunch time,enjoy with happines....
  • #3,045
  • Edited 9:29am Oct 24, 2007 12:33am | Edited 9:29am
Hi Imran. First, I wanted to say that your prediction about the 235.80 level resistanse was right on the money. You have saved me some money there. I was able to recover all my money when the short signals came up.
For that thank you again.

By the way are you short now? The trend is definitely bearish. When it breaks the 234.00 line it should be free fall to the S1 line. Well, just my thoughts .... they may be wrong .... I am on this computer for about 18 hours almost. I can feel the market breath

Evan
  • #3,046
  • Oct 24, 2007 12:37am Oct 24, 2007 12:37am
Quoting poulis1
Hi Imran. First, I wanted to say that your prediction about the 235.80 level resistanse was right on the money. You have saved me some money there. I was able to recover all my money when the short signals came up.
For that thank you again.

By the way are you short now? The trend is definatelly bullish. When it breaks the 234.00 line it should be free fall to the S1 line. Well, just my thoughs .... they may be wrong .... I am on this computer for about 18 hours almost. I can feel the market breeth

Evan
No probs evan..just stick to the rules and signal for entry, u will need not be here 18 hrs to watch ur negative trade become positive...and also keep a watch for the daily pivot , price below it means shorts are more safer

BTW i am already short from 235.20 area..already locked in +50 pips..leaving it open to hit 233 area once london opens
  • #3,047
  • Oct 24, 2007 12:43am Oct 24, 2007 12:43am
Tips for new forex traders

 

  1. Have a concrete trading plan
  2. Always stick to your trading plan
  3. Never under any circumstance over trade
  4. Never to pay much attention to what an “Expert” believes price will do in the future, He has no idea.
  5. Don't believe the news, believe the price action
  6. Always use solid risk management
  7. Trade with the trend, it is your friend after all
  8. Make sure your strategy has a good chance of being profitable after the spreads have been paid
  9. Make sure your strategy can comfortable survive a bad run of trades
  10. Choose your forex broker wisely
  11. Do your very best to leave emotions completely out of your trading
  12. Double check your orders to ensure there are no mistakes
  13. Never try and find the strategy that is the “holy grail” you won't find it
  14. Don't even consider trading live until you are confident you have a good chance of succeeding
  15. Never think trading is easy
  16. Don't waste your money buying other peoples strategies
  17. Be very skeptical about any training course. The vast majority of forex training courses are bullshit.
  18. Spend time reading forex forums online. They are free and contain a lot of useful information

  • #3,048
  • Oct 24, 2007 12:46am Oct 24, 2007 12:46am
ok?
  • #3,049
  • Oct 24, 2007 12:48am Oct 24, 2007 12:48am
Quoting ele
ok?
i would be careful, as price is below daily pivot and trend is very strong bearish..we will see 233 before US Opens...london will take it there

Post a chart so we can see if ur trade is correct

attached is a 15min chart
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.gif Size: 30 KB
  • #3,050
  • Oct 24, 2007 12:56am Oct 24, 2007 12:56am
Quoting imransait
locking in pips is the most difficult thing to do , but u start to do this on every trade and then u see that u can open ur own bank soon account really grows
hi Imran,

would u mind sharing with us ur technique of locking profits? would really help in making this system more solid thnx bro .
  • #3,051
  • Oct 24, 2007 12:59am Oct 24, 2007 12:59am
Quoting Sam Sylo
hi Imran,

would u mind sharing with us ur technique of locking profits? would really help in making this system more solid thnx bro .
once price moves +20 pips..i move my SL to BE and then every 20 pips keep on locking it , have a trailing stop set on my account for 20 pips..this way...the loss is kept to minimum and trade is kept positive...if i see the optimum setup of all 2 lags and the stoch in agreement in the 5min..i expect a fall of +100 pips , so keep moving my SL every 20 pips on movements of 50 pips and always keep my TP close to support/resistance levels
  • #3,052
  • Oct 24, 2007 1:05am Oct 24, 2007 1:05am
always give higher preference to red lag as the moves on this lag are powerful and always the trade goes with this lag

below is a 1 min chart trade, if u keep ur eyes open to these kind of trades u can close ur trading day with 50-60 pips in just 30 mins and take the rest of the day off


each of these long and short trade was +30 pips each way
Attached Image (click to enlarge)
Click to Enlarge Name: 1min.gif Size: 31 KB
  • #3,053
  • Oct 24, 2007 1:05am Oct 24, 2007 1:05am
i read ur post from the first time,but i don't know where r u come from???



i'm a new trader from indonesia
  • #3,054
  • Oct 24, 2007 1:08am Oct 24, 2007 1:08am
Thought everyone might appreciate a good long signal... Imran, let me know if I made a good choice. Thx... Scalped a quick 10 pips off of this move... Still builiding a comfort level with the system, will be patient as I build confidence with the system...
Attached Image (click to enlarge)
Click to Enlarge Name: NZD-USD-2.JPG Size: 179 KB
  • #3,055
  • Oct 24, 2007 1:10am Oct 24, 2007 1:10am
Quoting bogel
i read ur post from the first time,but i don't know where r u come from???



i'm a new trader from indonesia
i am from India, presently in Kuwait
  • #3,056
  • Oct 24, 2007 1:11am Oct 24, 2007 1:11am
Quoting imransait
once price moves +20 pips..i move my SL to BE and then every 20 pips keep on locking it , have a trailing stop set on my account for 20 pips..this way...the loss is kept to minimum and trade is kept positive...if i see the optimum setup of all 2 lags and the stoch in agreement in the 5min..i expect a fall of +100 pips , so keep moving my SL every 20 pips on movements of 50 pips and always keep my TP close to support/resistance levels
i'll try to practice on it , thnx so much for your generosity Imran, May the Almighty shower you with his blessings and goodness.
  • #3,057
  • Oct 24, 2007 1:12am Oct 24, 2007 1:12am
Quoting 4xMike
Thought everyone might appreciate a good long signal... Imran, let me know if I made a good choice. Thx... Scalped a quick 10 pips off of this move... Still builiding a comfort level with the system, will be patient as I build confidence with the system...
the 15min chart , the price bounced off the 200 EMA, was a good entry point to go long..but also check..the red lag was coming down...so dangerous to take a trade against the trend...as long as price is below daily pivot..always look for short trade setup unless red lag in 5min and 15min shows uptrend
  • #3,058
  • Oct 24, 2007 1:21am Oct 24, 2007 1:21am
nice!!

Quoting imransait
always give higher preference to red lag as the moves on this lag are powerful and always the trade goes with this lag

below is a 1 min chart trade, if u keep ur eyes open to these kind of trades u can close ur trading day with 50-60 pips in just 30 mins and take the rest of the day off


each of these long and short trade was +30 pips each way
  • #3,059
  • Oct 24, 2007 1:27am Oct 24, 2007 1:27am
we need an EA robot to ONLY take the conservative setups on 5 min chart for a basket of pairs. Trade time: maybe 12 am - 6am eastern; close all trades by 7 a.m.


programmers -
any takers?
  • #3,060
  • Oct 24, 2007 1:33am Oct 24, 2007 1:33am
Imran, which alert for the arrows do you prefer?
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