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

RE-Imran Sait Method 6 replies

EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait" 36 replies

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

Quoting Brandon LG83
Thanks PipCop. One more question: When we see an entry signal, should we wait for the signal candle to close before we take the trade?

Thanks
If everything is in agreement yes, or you can wait for the stoch histogram to go from negative to positive and vice versa, if the candle is near S/R, pivot be cautious
Quoting Brandon LG83
Thanks PipCop. One more question: When we see an entry signal, should we wait for the signal candle to close before we take the trade?

Thanks
Hi Brandon,

Before PipCop answers your question, let me clarify about my programs. If you are using LISPA or Chandra-Signal-Alert-System, the signals are based on prior bar and given only after the bar-close, at the new bar. So, they should be taken as soon as you see them (but should be confirmed with other filters before placing trades).

chandra
Wow, so sad to see the forum got less active.

All are must be in skype chatroom.


I have same problem with other guys with endless progress bar when clicked the link given before.

Although I've been sending mail to Imran, I couldn't get into the chat room.

Can anyone set me in to the skype chat?

Skype id : noel.kim

I REALLY want to get inside the actions since I've planned a week of vacation next week to test out this method in live.
HI, could someone invite me, please?

skype id: guibernaua

Thanks!

gbrn
Hi Folks ,

i hope the forum doesnt go by the wayside because of chat rooms as iam learning so much from it. Iam amazed that people like FX Diva are collecting so many pips just in one night- very well done Diva and others.
Anyway looks like i will have to join in the chat room to increase my knowledge and keep up with the play. I have skype but cant get into room so can someone please invite me. name is------------ desiderata40


Many thanks

Mark.
HI all,

Would someone please inveite me into the chat room?

Thanks, richardv22
Here is the pivot indicator that was requested in the chat.
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Attached File(s)
File Type: ex4 FMM_Pivots.ex4   27 KB | 412 downloads
Quoting kkja1178
hi,

thanks for that, it was very helpful. Generally speaking then its much safer to take long positions when your above the daily pivot.
Also what higher time frame do you look at when taking trades on the five minute time frame??

I'm still trying to get into the skype room, will let you know if i manage to!!

amarjit

Yes, it is always safer to trade on the side of the daily pivot. Also remember that usually when you have a big move in one direction you have to have at least a 50% retrace before price either continues in the initial direction or contines past the 50% move and goes into a reversal.

For this system I like to look at the m5, m15 and m30. I especially look at the higher time frames when price action slows down. You can see the patterns better.

Happy pipping,
Fx Diva
  • Post #3,829
  • Quote
  • Edited Oct 30, 2007 12:30am Oct 29, 2007 9:19pm | Edited Oct 30, 2007 12:30am
Quoting KingSizePips
Hi diva,

Can i ask you what time frame are you referring to, cause my macd is not pointing down? My 30 min macd is up and price is above the middle of the band.


Your input will help us trade better.....Thanks a million.

King
I think I was on the m30 chart at that time . . .

Happy pipping,
Fx Diva
Quoting kenneith
just check yr 15min chart there u can see macd is going down while price is going up.
thanks
That's called divergence and price has now caught up to macd. . . there has been a 100pip move down.


Happy pipping,
Fx Diva
Hi,

I entered this trade at the solid vertical yellow line. As soon as I did it turned on me and stopped me out right at the 25th pip of my 25 pip stoploss.

Trying to analyze it the only thing I can come up with is that it bounced right at the 200 ema and middle of the bollinger bands.

The price is above the daily pivot and the lags were in agreement (in my opinion).

Any analysis or comments are welcome, I'm trying to learn from my mistakes.
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Still haven't found what I'm looking for...
What time did you place that trade there was some important news out of japan tonight that effected price greatly?
Push yourself to your fullest potential!!
I just was looking at your chart. You placed the trade right around the news release. It's best not to trade this system around a news release.
Push yourself to your fullest potential!!
What do you think the movement will be for the remainder of the Asian and the London session. Anyone cares to give their assesment?
Thanks,
Evan
Quoting Scooter
Hi,

I entered this trade at the solid vertical yellow line. As soon as I did it turned on me and stopped me out right at the 25th pip of my 25 pip stoploss.

Trying to analyze it the only thing I can come up with is that it bounced right at the 200 ema and middle of the bollinger bands.

The price is above the daily pivot and the lags were in agreement (in my opinion).

Any analysis or comments are welcome, I'm trying to learn from my mistakes.
Hi Scooter,

1. The Price is below the steep down-sloping middle line of bollinger band (which is 20-MA-simple). It means still downward momentum is there.
2. Though the Stoch turned positive, the price stayed below the previous candle high. Possible consolidation/correction/reversal.
3. That previous candle was a reversal candle pattern. (you can see similar type candle at the previous up reversal and the last candle of the chart also; with long tail and small body). Read some more about candles. That could have warned you to exit early to reduce the effect of the mistake.
4. The Lag2 was still going down slightly at that signal bar.

So, you should not have entered Long here.

I think these are the points that could have helped you to avoid going Long. Too early for that. It may chop around and go up later.

chandra
also depending on how u count the price wave pattern, signal came during B or D period.
both can turn out to be counter trend price waves.
the arrow from my understanding is to be used for confirmation. seems like the lag signal actually developed a few bars earlier.
another thing u can do is fib the top to bottom of that leg and see if the retracement % coincides signficantly with the level of the red avg.
Quoting mrpip05
Here is the pivot indicator that was requested in the chat.
Hi mrpip05, what are the settings you use for the pivot indicator you gave? It seems the autopivot indicator and this indicator doesn't match.
This seems like an interesting strategy. I look forward to following this thread more closely!
Hi everyone

First and foremost thanks to Imran for sharing this strategy and diligently commenting on the feedbacks and comments. Been following this thread for three days (I'm still at pg 80!)
Can anybody comment on my trade. I entered long at the red line and got stopped out at the blue line. My decision to enter was based on the blue lag, stocs, and the fact that the price has crossed the daily pivot and middle bollinger

Thanks and kind regards
Matt
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