Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 161 | Forex Factory

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

  • #3,201
  • Oct 24, 2007 10:04am Oct 24, 2007 10:04am
TW wow, you're wayyyy off. 50%, i see why
  • #3,202
  • Oct 24, 2007 10:06am Oct 24, 2007 10:06am
roc, thanks for the encouragement. I'm going back on my GBPUSD chart and see if there are any patterns that are obvious. I'm keen to get things to work but don't trust my natural trading skills. That's why I prefer mechanical systems, or would do if I could find a profitable one.
I'm still not convinced about TA because much of it is mumbojumbo written after the event, when its easy to see patterns.
He was looking for the card so high and wild hed never need to deal another
  • #3,203
  • Oct 24, 2007 10:08am Oct 24, 2007 10:08am
Quoting Tw0eleven
Well, I started the week with a few good trades. Then yesterday and early today I hit a bad patch where I lost 9 of 13 trades. Then, thanks to this beauty(eur/jpy chart below)...I made up for all my losses plus some! For those new traders out there I have some advice with this system...I only have a 50% win/loss ratio right now, but by following Imransait's tight stoploss rules and letting your winning trades run...I am positive pips for the week!!! You Must Be Disciplined and Patient! Now if I can get my success rate up to 80-90%, maybe I can retire from my fulltime job in a couple years! hahaha

Happy Trading everyone!
just a thought for you to increase ur winnings, use the blue lag and stoch to enter and exit trades, use the red lag only as reference so if its agreement with blue lag , u can trail ur winners, if its counter trend, lock in pips till stochs goes to negative or positive based on ur trade u took at that time, demo this for a day..i assure u will have 100% winning rate
  • #3,204
  • Oct 24, 2007 10:12am Oct 24, 2007 10:12am
just re-train you Subconscious and everything will work out.

Quoting dr_who
Yes, you're right. But personally I think I need a system that takes things away from the subconscious processes cos I think my subconscious isn't too good when it comes to trading. Anyway, I'll see how PipBoxer goes because that is purely mechanical and over time seems to do quite well. Now that I'm trying it, it'll probably go into a steep decline !!
  • #3,205
  • Oct 24, 2007 10:13am Oct 24, 2007 10:13am
Quoting imransait
if price breaks thru 233.30 convincingly, we will see 232.80 is super quick time
By how many pips is convincingly?
  • #3,206
  • Oct 24, 2007 10:15am Oct 24, 2007 10:15am
good job on the recovery trade!
just an idea...if u have a bunch of losses in 1 day, take a break.
i like to stop after 2. cuz for me, it means i am "off"

Quoting Tw0eleven
Well, I started the week with a few good trades. Then yesterday and early today I hit a bad patch where I lost 9 of 13 trades. Then, thanks to this beauty(eur/jpy chart below)...I made up for all my losses plus some! For those new traders out there I have some advice with this system...I only have a 50% win/loss ratio right now, but by following Imransait's tight stoploss rules and letting your winning trades run...I am positive pips for the week!!! You Must Be Disciplined and Patient! Now if I can get my success rate up to 80-90%, maybe I can retire from my fulltime job in a couple years! hahaha

Happy Trading everyone!
  • #3,207
  • Oct 24, 2007 10:16am Oct 24, 2007 10:16am
Quoting poulis1
By how many pips is convincingly?
a 15 min candle close below it, will send it to 232.80 to 232.60 area super fast
  • #3,208
  • Oct 24, 2007 10:19am Oct 24, 2007 10:19am
Hello everyone,

I don't post much , I am more of a reader and trader, but I want everyone to know that the post by 2eleven says it all. Money management is the key to all systems. And as simple as this system is, all one needs is patience. I try to earn between 10 and 15 percent a week. I accomplished my goal this last night and this morning. Mind you I missed the big move at the beginning of the week. So study the thread, do your demos, and have faith in what you see, and always practice good Money Management.

Many pips to all

Spin703
  • #3,209
  • Oct 24, 2007 10:22am Oct 24, 2007 10:22am
Quote
just re-train you Subconscious and everything will work out.

Ah, if life was only so simple. Changing your subconcious to work in another way is one of the secrets of life. That's why its so difficult.
He was looking for the card so high and wild hed never need to deal another
  • #3,210
  • Oct 24, 2007 10:23am Oct 24, 2007 10:23am
Quoting imransait
a 15 min candle close below it, will send it to 232.80 to 232.60 area super fast
Correct again.
By the way what made you say that?

Also yesterday, you mentioned that when the dow closes the price will come down. What is the correlation between prices in gbp/jly and the dow movement?
  • #3,211
  • Oct 24, 2007 10:24am Oct 24, 2007 10:24am
Quoting dr_who
Ah, if life was only so simple. Changing your subconcious to work in another way is one of the secrets of life. That's why its so difficult.
you are correct, life is not so easy as this method is

determination is the only way to work the subconsious to work the other way and the other is will power
  • #3,212
  • Oct 24, 2007 10:26am Oct 24, 2007 10:26am
Quoting poulis1
Correct again.
By the way what made you say that?

Also yesterday, you mentioned that when the dow closes the price will come down. What is the correlation between prices in gbp/jly and the dow movement?
been watching this co-relation since one year and its really eiree but happens 99% of the time, coz DOW causes the USD/Jpy to yo yo and this causes the movement in gbp/jpy , even thou this pair has nothing to do with the DOW
  • #3,213
  • Oct 24, 2007 10:27am Oct 24, 2007 10:27am
Quoting dr_who
Ah, if life was only so simple. Changing your subconcious to work in another way is one of the secrets of life. That's why its so difficult.
Try NLP, with a little training you can do it yourself...

Ohka
  • #3,214
  • Oct 24, 2007 10:28am Oct 24, 2007 10:28am
Interesting comment...not quite sure how to take that. Seems a bit rude to me. Correct me if I'm wrong?

Quoting FXNorm
TW wow, you're wayyyy off. 50%, i see why
  • #3,215
  • Oct 24, 2007 10:30am Oct 24, 2007 10:30am
Hi Folks !

Attached you will find an actual snapshot of my last EUR/JPY entry.
The system works like a swiss clock....

More to come..

Greetings

Bernhard
Attached Image
  • #3,216
  • Oct 24, 2007 10:31am Oct 24, 2007 10:31am
What's the consensus about entering a trade when the conditions are correct on the current but incomplete bar ? By that I mean, do you need to wait for a bar to be complete before taking a trade ?
He was looking for the card so high and wild hed never need to deal another
  • #3,217
  • Oct 24, 2007 10:33am Oct 24, 2007 10:33am
Quoting behof
Hi Folks !

Attached you will find an actual snapshot of my last EUR/JPY entry.
The system works like a swiss clock....

More to come..

Greetings

Bernhard
gr8 work , mate..what is the lag setting ur using
  • #3,218
  • Oct 24, 2007 10:38am Oct 24, 2007 10:38am
Thanks for the advice/tips! Part of my losses were do to my lack of discipline...instead of waiting for the trade to come to me, I jumped in too early. You're method is great, just need to work on myself now!

Quoting imransait
just a thought for you to increase ur winnings, use the blue lag and stoch to enter and exit trades, use the red lag only as reference so if its agreement with blue lag , u can trail ur winners, if its counter trend, lock in pips till stochs goes to negative or positive based on ur trade u took at that time, demo this for a day..i assure u will have 100% winning rate
  • #3,219
  • Oct 24, 2007 10:46am Oct 24, 2007 10:46am
yes try it out. bTW, Ohka, thx for the tip re: gap filling in Forex.

Quoting Ohka
Try NLP, with a little training you can do it yourself...

Ohka
  • #3,220
  • Oct 24, 2007 10:48am Oct 24, 2007 10:48am
Glad to see someone else went along for the ride with me! Nice work Bernhard!

Quoting behof
Hi Folks !

Attached you will find an actual snapshot of my last EUR/JPY entry.
The system works like a swiss clock....

More to come..

Greetings

Bernhard
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