Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 163 | Forex Factory

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

  • #3,241
  • Oct 24, 2007 11:33am Oct 24, 2007 11:33am
Quoting greenivy
Thanks to all in the Thread. Extra thanks go to Imransait for starting and bringing this method to all who are willing to forgo the notion that there is a purely mechanical system that will never lose. This is my first post but I have been following along and have slowly started to replace my old habits with some new and profitable trades. We all have to take responsibility for our trades and not blame the system. Many have proven that it works. I have proven to myself that it works it just takes time and practice. THanks again and good luck to all.

Dan
thanks dan for the comments, hope u do well and make lots of pips
  • #3,242
  • Oct 24, 2007 11:35am Oct 24, 2007 11:35am
Quoting imransait
i think it will unless DOW closes higher and in positive...lets see what it does at the end of the day
From what I have understood regarding the correlation between the Dow and the movement of the gbp/jpy it seems that when the dow is positive, the move of the G/Y is down (yesterday). When the dow is negative, the move is up.

Does this make sense to you?
Thanks,
Evan
  • #3,243
  • Oct 24, 2007 11:39am Oct 24, 2007 11:39am
Hi to all,
I'm totaly new to forex (4 days) and to this Method. I read a lot of it and it realy sounds good.

But as i said i'm new to forex and there are some questions. I tried to start, but i missed everything.

I would be realy greatful, if one of you guys (you look very experienced) can write me an email and explain me the method like you would explain it to a newb. Also telling me which online forex trader i should use or which one is best. I allready started a demo account at some online traders and after testing my abilities i would like to open a mini account.
Please please help a newcommer, every emailer is greatly welcome.
Don't answer to this post in this thread, because it would disturbe other ppl.

Sry for disturbing your greatfull thread, but this looks realy great and i would like to be a part of it.

BTW: I allready know some basic forex things, but as i said i'm new here.
Email: [email protected]

Thanks for your very appriciated help.
Ivo
  • #3,244
  • Oct 24, 2007 11:49am Oct 24, 2007 11:49am
I'll tell you where I've really been hitting a 85% success rate is trading the GBP/JPY off the hourly chart using the blue lag only. Sometimes I only scalp 15 pips but other times I can get close to 200 pips or more. It was hit and miss for me on the 5 minute and I was only successful about half the time. However on the hourly chart my success rate is much higher with a 35 pip stop loss. Paris
  • #3,245
  • Oct 24, 2007 11:51am Oct 24, 2007 11:51am
I was wondering if anybody know how to build the Laguerre Indicator for Tradestation. I like to test this also in the futures market.



Thanks,
KingSize
  • #3,246
  • Oct 24, 2007 12:08pm Oct 24, 2007 12:08pm
Quoting behof
Hi izzybel !

The settings are : -0.05 for minimum and 1.05 for maximum !

Greetings

Bernhard
hello Bernhard - can you tell which amount of stopped loss you have plz on the pairs you have liked?
  • #3,247
  • Oct 24, 2007 12:09pm Oct 24, 2007 12:09pm
Hey Paris, thnx for the update, 85% sounds great! was wondering, did you use both lags on the 5 min chart or just one to get that low percentage.
  • #3,248
  • Oct 24, 2007 12:11pm Oct 24, 2007 12:11pm
Quoting FXNorm
Hey Paris, thnx for the update, 85% sounds great! was wondering, did you use both lags on the 5 min chart or just one to get that low percentage.
paris is using it on the 1hr charts, not on 5min
  • #3,249
  • Oct 24, 2007 12:13pm Oct 24, 2007 12:13pm
Quoting Paris Hilton
I'll tell you where I've really been hitting a 85% success rate is trading the GBP/JPY off the hourly chart using the blue lag only. Sometimes I only scalp 15 pips but other times I can get close to 200 pips or more. It was hit and miss for me on the 5 minute and I was only successful about half the time. However on the hourly chart my success rate is much higher with a 35 pip stop loss. Paris

I like the larger time frames also. I got 150 pips last night off the 1 hour setup. you must be patience and ride out a couple of reversals but it can be a good play. Keep up the good work.
  • #3,250
  • Oct 24, 2007 12:18pm Oct 24, 2007 12:18pm
USD/JPY is following the DOW tick by tick up and down...if DOW closes in the negative look for a sell off after 5 pm EST as today is Wednesday..triple interest pay day...so shorts dont expect much..it could go up and then fall after 5 PM
  • #3,251
  • Oct 24, 2007 12:25pm Oct 24, 2007 12:25pm
Wow, I've had a look at my pairs on the hourly charts and suddenly it looks a lot clearer. Nice one Paris
He was looking for the card so high and wild hed never need to deal another
  • #3,252
  • Oct 24, 2007 12:32pm Oct 24, 2007 12:32pm
The Laguerre indicator has been around for at least 5 years. It had to have been tried in just about every combination possible. Just using 1 Lag without testing over a period of time is questionable.
  • #3,253
  • Oct 24, 2007 12:51pm Oct 24, 2007 12:51pm
[quote=behof;1676838]Hi Folks !

Here is another chart of the 5min EUR/JPY with some nice setups
This is only a small snippet of all the possibilities available today..
Grab the money from the streets....
(And buy some nice monitors to watch 8 pairs simultaneously..)

Hi Bernhard, please which set ups are you using for you unique Laguerre indicator? Did you have good experiences in other trades using only one Lag? Do you use it to enter and to exit a trade or do you see other signals before? What about other pairs?
  • #3,254
  • Oct 24, 2007 1:17pm Oct 24, 2007 1:17pm
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
This is exactly what I'd started doing a couple of days ago and you're right!

Probably need to add this statement to the first page of the thread.

Thanks again for this awesome system!

Happy pipping,
Fx Diva
  • #3,255
  • Oct 24, 2007 1:20pm Oct 24, 2007 1:20pm
Looks to be reversal in the offing, as 1min to 30 min all look OB, but 1 hr is showing a downtrend..so got to watch the close of US Session to see the impact..if 1hr does go down more..then we may reach 230.86 the S2 maybe by asian session
  • #3,256
  • Oct 24, 2007 1:21pm Oct 24, 2007 1:21pm
Quoting fxdiva
This is exactly what I'd started doing a couple of days ago and you're right!

Probably need to add this statement to the first page of the thread.

Thanks again for this awesome system!

Happy pipping,
tks, which TF?
  • #3,257
  • Oct 24, 2007 1:23pm Oct 24, 2007 1:23pm
Quoting fxdiva
This is exactly what I'd started doing a couple of days ago and you're right!

Probably need to add this statement to the first page of the thread.

Thanks again for this awesome system!

Happy pipping,
maybe the method needs a overall...will replace the rules and this type of entry , but i need to test it for a week and see the impact and then decide as currently the method works good..but making it simple with one lag will clear lots of confusion
  • #3,258
  • Oct 24, 2007 1:25pm Oct 24, 2007 1:25pm
Does it matter which timeframe you do this on Imransait? I've been using the 5min charts for trades.

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
  • #3,259
  • Oct 24, 2007 1:28pm Oct 24, 2007 1:28pm
Quoting Tw0eleven
Does it matter which timeframe you do this on Imransait? I've been using the 5min charts for trades.
it does not matter, use it on 5min and above for less noise..1 min has lots of noise
  • #3,260
  • Oct 24, 2007 1:52pm Oct 24, 2007 1:52pm
Thanks imransait, I just tried your suggestion and made a small profit!

Quoting imransait
it does not matter, use it on 5min and above for less noise..1 min has lots of noise
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