Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 167 | Forex Factory

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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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

  • #3,321
  • Oct 24, 2007 9:21pm Oct 24, 2007 9:21pm
Took full profit when the candle closed at the pivot line. 30 pips not a bad scalp at this time of the night here.
Push yourself to your fullest potential!!
  • #3,322
  • Oct 24, 2007 9:23pm Oct 24, 2007 9:23pm
Nice job! I'm still long on my trades, think I missed my chance to get out...not sure if I should exit now or see if it tries to go up again.

Quoting viking1975
Took full profit when the candle closed at the pivot line. 30 pips not a bad scalp at this time of the night here.
update: nevermind, I was stopped out for zero profit!
  • #3,323
  • Oct 24, 2007 9:26pm Oct 24, 2007 9:26pm
Quoting Tw0eleven
Nice job! I'm still long on my trades, think I missed my chance to get out...not sure if I should exit now or see if it tries to go up again.



update: nevermind, I was stopped out for zero profit!
As in poker you were playing the houses money no harm done imagine if it went for another 100 from here. I would have been been knocking myself for it.
Push yourself to your fullest potential!!
  • #3,324
  • Oct 24, 2007 9:29pm Oct 24, 2007 9:29pm
Quoting KingSizePips
Hi Chandra, I have the instructions and the fixes but i still could not get it to work. Could you please look at it and possibly fix the code for me.....

thanks
Hi King,

Use the recent code posted by Ohka (I also noticed the second O problem just while checking). But add the first line to be the one I have shown below which will allow you to vary the gamma I think. You can copy this code also and use (I have corrected both the O problems).
It is best to delete the code above the "inputs: gamma(0.5)" line. It is having useful tips (useful for newbies like me!). But they are having too many duplicate statements and just don't bother to keep them.

Hopefully it will work with the flexibility. Good Luck.
chandra

{The final TS-Laguerre code is below, hopefully!}

inputs: gamma(0.5) ;
Vars: L0(0) ,
L1(0) ,
L2(0) ,
L3(0) ,
CU(0) ,
CD(0) ,
LaguerreRSI(0) ;

L0 = (1 - gamma) * close + gamma * L0[1] ;
L1 = - gamma * L0 + L0[1] + gamma * L1[1] ;
L2 = - gamma * L1 + L1[1] + gamma * L2[1] ;
L3 = - gamma * L2 + L2[1] + gamma * L3[1] ;

CU = 0 ;
CD = 0 ;
if L0 >= L1 then CU = L0 - L1 Else CD = L1 - L0 ;
if L1 >= L2 then CU = CU + L1 - L2 Else CD = CD + L2 - L1 ;
if L2 >= L3 then CU = CU + L2 - L3 Else CD = CD + L3 - L2 ;

if CU + CD <> 0 then LaguerreRSI = CU / (CU + CD) ;

Plot1(LaguerreRSI, "LaguerreRSI") ;
Plot2(.85) ;
Plot3(.15) ;
{end of TS-Laguerre code}
  • #3,325
  • Oct 24, 2007 9:59pm Oct 24, 2007 9:59pm
i feel preety good today...and waiting for signal...

ready to gain some profit today
  • #3,326
  • Oct 24, 2007 10:06pm Oct 24, 2007 10:06pm
The reason why you made money in Demo Trading and Lost Money in Real Trading are two folds:

1) When you trade Demo, you have a large amount of Virtual Money about $50,000.00 in your Kitty.
When you are Trading Live with your real money you are trading with an account of only $5000.00 or so.
Here is the first reason, you have a vast resource of funds at your hand when Demo Trading.

2) Traders lose only because of FEAR and GREED.

In the first senerio, with Demo Trading you are fearless as you know that first you have a vast resource at your disposal and secondly your Conscious and Subconscious Mind knows that it is not your money and it is not real money. So there is NO FEAR INVOLVED here.

But when you are trading with your own hard earned money, you fear of losing it, so you make mistakes.


The Second Reason is GREED.


So you have to learn Discipline, stick to the Rules, do not expect more than what is expected. Don't Expected the Unexpected and you will be back on the road again making profitable trades.
  • #3,327
  • Oct 24, 2007 11:19pm Oct 24, 2007 11:19pm
Quoting achandrasekaran99
Hi King,

Use the recent code posted by Ohka (I also noticed the second O problem just while checking). But add the first line to be the one I have shown below which will allow you to vary the gamma I think. You can copy this code also and use (I have corrected both the O problems).
It is best to delete the code above the "inputs: gamma(0.5)" line. It is having useful tips (useful for newbies like me!). But they are having too many duplicate statements and just don't bother to keep them.

Hopefully it will work with the flexibility. Good Luck.
chandra

{The final TS-Laguerre code is below, hopefully!}

inputs: gamma(0.5) ;
Vars: L0(0) ,
L1(0) ,
L2(0) ,
L3(0) ,
CU(0) ,
CD(0) ,
LaguerreRSI(0) ;

L0 = (1 - gamma) * close + gamma * L0[1] ;
L1 = - gamma * L0 + L0[1] + gamma * L1[1] ;
L2 = - gamma * L1 + L1[1] + gamma * L2[1] ;
L3 = - gamma * L2 + L2[1] + gamma * L3[1] ;

CU = 0 ;
CD = 0 ;
if L0 >= L1 then CU = L0 - L1 Else CD = L1 - L0 ;
if L1 >= L2 then CU = CU + L1 - L2 Else CD = CD + L2 - L1 ;
if L2 >= L3 then CU = CU + L2 - L3 Else CD = CD + L3 - L2 ;

if CU + CD <> 0 then LaguerreRSI = CU / (CU + CD) ;

Plot1(LaguerreRSI, "LaguerreRSI") ;
Plot2(.85) ;
Plot3(.15) ;
{end of TS-Laguerre code}



Thanks Chandra and Ohka for the fixed code. I got it to work.

Many thanks and happy pipping,
King
  • #3,328
  • Oct 24, 2007 11:41pm Oct 24, 2007 11:41pm
I kind of see that some people whether they are new or not are waning on this system a little bit. This system still works powerful but market settings have changed in no hard feelings towards this system. My feeling is to make this system or any system work is to let it change with the times and that means changing settings..changing out indicators and let the system be like a breathing and living cell that changes with it's enviroment. From what I have learned forex changes by the day the week and month so keep up and being able to adjust is all the more i'm going to say. Keep up the great work imran and we can adjust to changing time together! Some solidarity to all us seeking the pips! We can all work together to improve improvise or change as the market changes. No system ever is 100 percent..when we all accept that we can trade free clear..it's mind over matter...it's believeing what you see..it's knowing your limitations as a human and accepting it..free your mind to trade trust the what you see..set limits on your mind..let the stop stop you out..let a good trade run but protect you..let forex be a long term investment not a quick pick ploy..forex is not going to get you rich quick..it may however get you rich in 5 years and 10 years...nothing else is going to get you rich unless you live under a oil field or a gold mine..so use forex and any market for what it is...and long term commitment to financial freedom which can be done if your in this for the long haul..Many thanks to all on this thread and all the great insight..first thanks to imran and all the great contributors...keep it all perspective and we can all live the dream..sometimes it take a little more time than we want..if anyone knows the song by gun n roses patience...in forex sometimes you have to use a little patience...GREAT Trades to everyone! And many pips to you all!

Cheers and God's blessings!

Chris
Push yourself to your fullest potential!!
  • #3,329
  • Oct 25, 2007 12:35am Oct 25, 2007 12:35am
Quoting viking1975
I kind of see that some people whether they are new or not are waning on this system a little bit. This system still works powerful but market settings have changed in no hard feelings towards this system. My feeling is to make this system or any system work is to let it change with the times and that means changing settings..changing out indicators and let the system be like a breathing and living cell that changes with it's enviroment. From what I have learned forex changes by the day the week and month so keep up and being able to adjust is all the more i'm going to say. Keep up the great work imran and we can adjust to changing time together! Some solidarity to all us seeking the pips! We can all work together to improve improvise or change as the market changes. No system ever is 100 percent..when we all accept that we can trade free clear..it's mind over matter...it's believeing what you see..it's knowing your limitations as a human and accepting it..free your mind to trade trust the what you see..set limits on your mind..let the stop stop you out..let a good trade run but protect you..let forex be a long term investment not a quick pick ploy..forex is not going to get you rich quick..it may however get you rich in 5 years and 10 years...nothing else is going to get you rich unless you live under a oil field or a gold mine..so use forex and any market for what it is...and long term commitment to financial freedom which can be done if your in this for the long haul..Many thanks to all on this thread and all the great insight..first thanks to imran and all the great contributors...keep it all perspective and we can all live the dream..sometimes it take a little more time than we want..if anyone knows the song by gun n roses patience...in forex sometimes you have to use a little patience...GREAT Trades to everyone! And many pips to you all!

Cheers and God's blessings!

Chris
I thought I'd take this opportunity to inject a little bit about myself regarding your comments. I have been following the thread almost since it's beginning and I love it. I have had though streaks of 10-11 straight wins and then 6-7 straight losers. It's a super system that I personally can not see giving up on. I have prepared to visit with everyone during the Euro session through this evening (Pacific time US)until the sun rises with coffee at my side. I want to fine tune my entries and exits and hopefully gain a few friends in the process. I believe I understand the system pretty well but just have never uploaded any charts. Well that's going to change because I need the addition input and sharing that the thread provides.

And as always, many thanks to Imran for his superior kindness!
PipHunter
  • #3,330
  • Oct 25, 2007 12:37am Oct 25, 2007 12:37am
> +30pips today...
Attached Image (click to enlarge)
Click to Enlarge Name: gbr 1.gif Size: 44 KB
  • #3,331
  • Oct 25, 2007 12:41am Oct 25, 2007 12:41am
yup! i try this method on my demo first!

i think it can use in the real one...
  • #3,332
  • Oct 25, 2007 1:23am Oct 25, 2007 1:23am
Even though Bias is short, Entered Long @ 233.48 (waited until it was above Blue 60 day MA), for a quick scalp...
Attached Image (click to enlarge)
Click to Enlarge Name: gj long.gif Size: 17 KB
  • #3,333
  • Oct 25, 2007 1:44am Oct 25, 2007 1:44am
Quoting Ann
Even though Bias is short, Entered Long @ 233.48 (waited until it was above Blue 60 day MA), for a quick scalp...
I entered the candle before yours at 233.34 after I saw it clear the BB20ma and it honored the 50ema as resistance(I keep it on my chart) then bounced back to the BB20ma and ping ponged back up and I was sold. TP70% @ 233.56 for 22pips and trying to see what the rest will net.
PipHunter
  • #3,334
  • Oct 25, 2007 2:00am Oct 25, 2007 2:00am
Imran, you requested for my email and I have sent it to you but you have not sentany chartto me at all. Kindly send them to me through email.

Also, I would want to know what you do on the higher TF that you use to confirm trade. I am trading on 5M and the higher TF I use for confirmation is 15M. Can you let me know what to watch out for in the 15M if all indicators in 5M are confirming entry?

What do you use as your exit rule?

If for instance like in the chart you posted on post #2993 to me you are below and up against a Fibo or Pivot, is it advisable to enter the trade eventhough you are up against a pivot or Fibo?

If there are not support or Fibos, for instance, under S3, can I go short if the indicators signal short?
Trading Just Got Easier...
  • #3,335
  • Oct 25, 2007 2:08am Oct 25, 2007 2:08am
Quoting Pip Hunter
I entered the candle before yours at 233.34 after I saw it clear the BB20ma and it honored the 50ema as resistance(I keep it on my chart) then bounced back to the BB20ma and ping ponged back up and I was sold. TP70% @ 233.56 for 22pips and trying to see what the rest will net.
Great Analysis, PipHunter!
  • #3,336
  • Oct 25, 2007 2:18am Oct 25, 2007 2:18am
Quoting Ann
Great Analysis, PipHunter!
Thanks Ann, I'm trying. I really want this system to work in a big way!
PipHunter
  • #3,337
  • Oct 25, 2007 2:49am Oct 25, 2007 2:49am
Quoting Pip Hunter
Thanks Ann, I'm trying. I really want this system to work in a big way!
Me too! It is a fantastic system, and it is important to learn the nuances of how pairs move (i.e., your good analysis in understanding that after an initial thrust/breakout, watch/anticipate a pullback which then lends to a strong move)...
  • #3,338
  • Oct 25, 2007 3:02am Oct 25, 2007 3:02am
pls is my stochastic histogram okay?
Attached Image (click to enlarge)
Click to Enlarge Name: stoch.gif Size: 51 KB
  • #3,339
  • Oct 25, 2007 3:16am Oct 25, 2007 3:16am
Quoting answerpips
pls is my stochastic histogram okay?
Wrong, try to refresh or reinstall
  • #3,340
  • Oct 25, 2007 3:36am Oct 25, 2007 3:36am
Quoting answerpips
pls is my stochastic histogram okay?
try this
Attached File(s)
File Type: mq4 Stoch Histogram.mq4   3 KB | 420 downloads
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