Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 203 | Forex Factory

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

  • #4,041
  • Nov 2, 2007 5:50pm Nov 2, 2007 5:50pm
Quoting PipCop
Try this for starters I did'nt include any other indicators now, start with the basics and we will add as we go along
Great Chart! Thanks for posting.
  • #4,042
  • Nov 2, 2007 10:57pm Nov 2, 2007 10:57pm
Quoting PipCop
Great chart showing the triangle formation, I also wanted to point out to the new people how the fib tool is used here for the levels that price may target. Imran makes note of the 50% level many times, now you see it in action. Practice using this when you see smaller highs and lows formed within the major HH and LL. Will make scalping a breeze.
Very nice and simple explanation. Now it's clearer and I start to love this fibo. Thank you fx_ninja and PipCop.
  • #4,043
  • Nov 3, 2007 12:21am Nov 3, 2007 12:21am
Quoting dinarfx
Very nice and simple explanation. Now it's clearer and I start to love this fibo. Thank you fx_ninja and PipCop.

hi to all trader scalper...

im newbie here...
who can teach me to do scalping..
and which pair beside GU...

thankz...

i appreciate all ur kindness..
  • #4,044
  • Nov 3, 2007 1:49am Nov 3, 2007 1:49am
Quoting fxfariz
hi to all trader scalper...

im newbie here...
who can teach me to do scalping..
and which pair beside GU...

thankz...

i appreciate all ur kindness..
hi fxfariz...i thinks this method good to scalp gj...
  • #4,045
  • Nov 3, 2007 6:15am Nov 3, 2007 6:15am
Imran,

I am a newbee and checking your method in demo. I like it but just wanted to be sure of the settings:

>>

1. LaGuerre 1 ( for entry )

- Gamma 0.65, levels 0.15, 0.85,0.45 bars to read 9500 color green


2. LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.15, 0.85, 0.45 bars to read 9500, color red<<


Does it make difference, as per your above settings:

- Changed Gamma settings from previously .55 to .65
- previous entry levels were .85, .45, .15 now it says .15, .45, .85
- Bars to read: by default, you had 950000 in lag1, and 95000 for lag2. Does it need to be changed to 9500
- and last thing, for lag1, color is Blue (not green), right?

Thanks so much for sharing. I know it means a lot of work for you and really appriciate it.

  • #4,046
  • Nov 3, 2007 6:34am Nov 3, 2007 6:34am
HI
My replies in Blue below yours

Quoting Akalra
Imran,

I am a newbee and checking your method in demo. I like it but just wanted to be sure of the settings:

>>

1. LaGuerre 1 ( for entry )

- Gamma 0.65, levels 0.15, 0.85,0.45 bars to read 9500 color green
2. LaGuerre 2 ( for exits ) - Gamma 0.85, levels 0.15, 0.85, 0.45 bars to read 9500, color red<<


Does it make difference, as per your above settings:

- Changed Gamma settings from previously .55 to .65
This was after doing forward testing for optimum entry position

- previous entry levels were .85, .45, .15 now it says .15, .45, .85

They are same, i just put them in order
- Bars to read: by default, you had 950000 in lag1, and 95000 for lag2. Does it need to be changed to 9500

bars to read does not make a difference. you can use 95000 itself, 9500 was for 1min and 5min charts

- and last thing, for lag1, color is Blue (not green), right?

Yes, it is Blue,it was a mistake

Thanks so much for sharing. I know it means a lot of work for you and really appriciate it.



  • #4,047
  • Nov 3, 2007 9:38am Nov 3, 2007 9:38am
Turmoil in subprime mortgages and credit markets has possibly claimed its second victim.
Chairman and CEO of financial giant Citigroup Charles Prince plans to resign at a board meeting on Sunday in face of fresh losses from distressed mortgage assets leading to a $5-billion write-down and sharp drop in profits, media reports said on Saturday.
  • #4,048
  • Nov 3, 2007 10:24am Nov 3, 2007 10:24am
Quoting fxdiva
I'm in Atlanta, Eastern timeframe and don't laugh but I sleep need to the computer with the alerts going off all night. And I keep my laptop up at work.

So the only time I'm not trying to trade is when I'm driving.
I actually know someone who keeps his laptop on while driving and will actually pull over and make a trade if he gets an alert.
  • #4,049
  • Nov 3, 2007 10:53am Nov 3, 2007 10:53am
Quoting fx_ninja
att

mkt PB now. trianlge brkout for nxt direction
Dont take this comment as an offence but...........
As I look to this chart, i have to conclude that this is not a KISS chart anymore
  • #4,050
  • Nov 3, 2007 10:59am Nov 3, 2007 10:59am
Hi Guys
Go thru this thread, excellent work by a FF member
http://www.forexfactory.com/showthread.php?t=39514
  • #4,051
  • Nov 3, 2007 11:12am Nov 3, 2007 11:12am
Please expand on your thoughts so that in the future i might be able to clarify better.

Quoting crossover
Dont take this comment as an offence but...........
As I look to this chart, i have to conclude that this is not a KISS chart anymore
  • #4,052
  • Nov 3, 2007 2:47pm Nov 3, 2007 2:47pm
Quoting crossover
Dont take this comment as an offence but...........
As I look to this chart, i have to conclude that this is not a KISS chart anymore
not from its intial concept no, I have to question the "additions" to this system from the original form. Imran posted he had 90% success rate with the original system so why all the changes to it if it worked...is it better??? I dont think it is but more complicated with more indicators and messy.

the original post which is now gone worked well, very well and I do not see that it has gotten any better just more cluttered...this is just my 2 pips worth
Don't chase the market, Let the market come to you
  • #4,053
  • Nov 3, 2007 3:07pm Nov 3, 2007 3:07pm
After a slow start the system worked pretty well this week. Can I just check one thing. Is a short setup the exact opposite of a long setup? In the PDF for the long setup you say Lag2 is at the bottom or trending upwards but for a short setup you say Lag2 is at the top and trending downwards. Is that correct or is it a typo? If it's a typo then which one is correct? I.e. does Lag2 have to be trending in the direction of the trade or is it ok if Lag2 is flat and at the top (for a short setup) and flat and at the bottom (for a long setup)?
  • #4,054
  • Nov 3, 2007 4:11pm Nov 3, 2007 4:11pm
the chart was posted based on live commentary in the 'chat room' for the benefit of those who were watching e/j at the time (trade management) when i mentioned that divergence for Buy Side was possibly building but the blue lag had not crossed up yet (see prior chart).

I fibbed the swing so that those that may have taken the long on div. or the blue lag signal could have some reasonable targets.

Generally speaking, if the mkt moves much past the 78.6 level, u could consider that it would attempt test the prior swing hi area.

Personally, my main concept is to "Take Profit" so for my style in general and in that particular case, i'd rather take some off at the 61.8 and 72-78 area than think that its gonna retrace 100%.

I'd rather give up the potential extra to the upside on a portion of the position (in this case) than watch it PB 40 + pips.

For me it's a style issue. sometimes it works out better, sometimes it doesnt, but the one thing i dont have to guess about is taking profit at a key level.

If u pull up your chart u will see that the mkt PB from that 80 area to support.

If they took some profit at 1 or more of the targets, the re-entry at multiple levels of support (pick one below your partial exit) was good for more upside AND the price action was still above the Daily Pivot.

In addition, even tho the mkt broke to the upside of the triangle
(the pre-disposed bias for a symmetrical triangle in an UPTREND), it failed to take out the prior swing hi before the end of the session.

the end result was net positive.

Hope that makes a bit more sense.


Quoting Tmac
not from its intial concept no, I have to question the "additions" to this system from the original form. Imran posted he had 90% success rate with the original system so why all the changes to it if it worked...is it better??? I dont think it is but more complicated with more indicators and messy.

the original post which is now gone worked well, very well and I do not see that it has gotten any better just more cluttered...this is just my 2 pips worth
  • #4,055
  • Nov 3, 2007 4:30pm Nov 3, 2007 4:30pm
KISS
Attached Image
  • #4,056
  • Nov 3, 2007 6:30pm Nov 3, 2007 6:30pm
If you guys are still doing trades on skype can someone add me? My name is brandonlg83. I've read through about half the thread and am more confused than when i started. I need to see how you folks are making your decisions live.

Thanks
  • #4,057
  • Nov 3, 2007 8:39pm Nov 3, 2007 8:39pm
PipCop - great post. That's just the way I trade!!
  • #4,058
  • Nov 3, 2007 10:21pm Nov 3, 2007 10:21pm
can any of sucessfull traders let me know if this is for real? thanks
  • #4,059
  • Nov 4, 2007 1:16am Nov 4, 2007 1:16am
Quoting notouch
After a slow start the system worked pretty well this week. Can I just check one thing. Is a short setup the exact opposite of a long setup? In the PDF for the long setup you say Lag2 is at the bottom or trending upwards but for a short setup you say Lag2 is at the top and trending downwards. Is that correct or is it a typo? If it's a typo then which one is correct? I.e. does Lag2 have to be trending in the direction of the trade or is it ok if Lag2 is flat and at the top (for a short setup) and flat and at the bottom (for a long setup)?
Hi
The setup is correct in the PDF, you have to notice that the Red Lag 2 is at the bottom for extended time or pointing upwards to take a long, do not take the trade if the Lag2 has just bottomed out as the trend is still coninuing. Vice versa for Short. For confirmation sake, the Stoch has to be in positive to go long and in negative before going short
  • #4,060
  • Nov 4, 2007 1:48am Nov 4, 2007 1:48am
Citi Faces $6-$10 Billion Write-Off; Prince Is Out

http://www.cnbc.com/id/21601044

I hope nobody had open longs over the weekend, because I am thinking GJ is going to be way down when the market opens
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