Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 214 | 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

  • #4,261
  • Nov 11, 2007 7:19pm Nov 11, 2007 7:19pm
Just wondering if anyone jumped in on eur/jpy. Looks like a nice run of 80+ pips so far.
  • #4,262
  • Nov 12, 2007 2:30am Nov 12, 2007 2:30am
sorry guys just new to this strategy and no postings is everybody moved somewhere which i dont know about

kashif
  • #4,263
  • Nov 12, 2007 4:21am Nov 12, 2007 4:21am
when I set lag2 common tab setting the way you have it posted in the pdf, the lag dissappears when I hit ok
Don't chase the market, Let the market come to you
  • #4,264
  • Nov 12, 2007 5:12am Nov 12, 2007 5:12am
I am courious why you changed from this setup to the one you have now??

these setting seem to catch the movement quicker than the current ones posted in #1

Quoting imransait
Guys, i am not able to edit post 1, so pls find the new rules for entry and exit, do let me know how it went. This filters out the noise in the 1 min entry and exits. Works good on other time frames as well.

Indicators used :
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.10, 0.90, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.80, levels 0.10, 0.90 bars to read 9500, color red
and Bollinger bands - 20, 0 and close ( default) ( This is very imp indicator as in uptrend the middle bollinger acts as support and in downtrend it acts
as resistance )
Highly recommended - EMA 200 ( Red ) and EMA 60 (Blue) to find support and resistance

Rules for Entry & Exit
=============
Entry Long : when Laguerre 1 is above 0.10 and pointing up
Exit for Long is when Laguerre 2 goes to top and turns down to 0.90
Entry for Short : when Laguerre 1 is below 0.90 and pointing down
Exit for Shorts is when laguerre 2 goes to 0.0 Level and then turns up above 0.10

TP is when you exit or 25 pips, whichever comes first
SL is 15 Pips from entry at all time

I see that people are getting confused regarding the second Lag,
There is no hard and fast rule that the second lag has to come down and then go up. Take profits as it comes. The second lag is only for use to gauge if we are exiting early or we can hold on more

Pls rememeber, if you doing trades on 1min chart, try to always move ur stop loss once u have 5 pip profit, as market moves are very fast in gbp/jpy

so protect your profits at all time. Keep moving your stop loss every 5 pips or set trailing to 5 pips and sit back and relax.

Below are 2 examples , first is the 1 min chart where we have closed our trade and second is the 5 min chart where we would have exited the trade if only the first Laguerre was our only indicator, but by adding the second laguerre , we are enchancing our profits by almost 2 times...wow..this should really be tested by all on Demo or Live accounts and feedback is eagerly awaited.
Don't chase the market, Let the market come to you
  • #4,265
  • Edited 5:15am Nov 12, 2007 5:14am | Edited 5:15am
Quoting imransait
Hi
if any of you are good in making EA, then do get in touch so we can develop this method, looks really promising and will be a boon to all trades newbies as well as experienced

I think exit rules are too restrictive, and entry should be confirmed, maybe also by the Lag indicator from higher timeframe of something like that. Very often it triggers good trades, early at the begining of the trend, BUT, that kind of experts do also the bad thing. The dark side of taking tops/bottoms is that if we are in long trend - they will trigger few trades against the trend
Don't chase the market, Let the market come to you
  • #4,266
  • Nov 12, 2007 5:11pm Nov 12, 2007 5:11pm
Hei, does anyone care to explain how to read LagAlert? What does it mean by 'curr 1.5175, prev 1.0' it does not fit on my chart if the means the level. tqvm.
  • #4,267
  • Nov 13, 2007 12:48am Nov 13, 2007 12:48am
hi imran tanx for changing to improve system but what about other indicators in entry and exit such as : stoch histogram or pivots and so on and this is just all the system and that pdf in pot 1 is not usabale now by this method it is very simple and short just in some paragarfs

tanx
  • #4,268
  • Nov 13, 2007 1:07am Nov 13, 2007 1:07am
Hi Imran... your thread has grow now.. nice work, i think your EA has been develop by skyline.., he has do some change in supernova EA with add laguerre indicator.. maybe you can talk with him...
Logic Wins; Impulse Kills.
  • #4,269
  • Nov 13, 2007 7:08am Nov 13, 2007 7:08am
sad part of a thread like this is it dies once people take it to a chat room where there is way tooo much confusion and little learning

leave it here where it belongs for others to learn and share in the open forum
Don't chase the market, Let the market come to you
  • #4,270
  • Nov 13, 2007 9:39am Nov 13, 2007 9:39am
I too have noticed a BIG drop off in activity on this forum since the Chatroom started! Kinda sad I must say.

Happy Trading!

Quoting Tmac
sad part of a thread like this is it dies once people take it to a chat room where there is way tooo much confusion and little learning

leave it here where it belongs for others to learn and share in the open forum
  • #4,271
  • Nov 13, 2007 10:19am Nov 13, 2007 10:19am
Where did all the heavys go. Imran said he was shutting down the skype room because it was having problems and it couldn't handle all the people. He posts that he's closing skype room and that's it everyone's gone. No Islander, Diva, Ninja, Thunderwolf, Viking 1975 and whatever happened to Bfried he has a contribution to the main system on the front page. I thought when Imran announced he was closing the skype everyone would be coming back. What's going on, come back. Did the system start failing and everyone started losing or something? This is one of the most powerful systems and threads I have seen please don't just let it die off.
  • #4,272
  • Edited Nov 14, 2007 4:33am Nov 13, 2007 10:37am | Edited Nov 14, 2007 4:33am
Hi,

regards
  • #4,273
  • Nov 13, 2007 11:13am Nov 13, 2007 11:13am
Quoting fti
Hi,
I am new here.
I just chanced across this generous scalping tips.

One word of caution for fx scalpers out there.
"YOU will never out-scalp the marketmakers."

the reason is because you cannot see the flow.

think about it.

regards
then dont try, take what the market gives you everyday, it gives you waves. Ride the waves, it really is that simple
Don't chase the market, Let the market come to you
  • #4,274
  • Edited Nov 14, 2007 4:32am Nov 13, 2007 11:22am | Edited Nov 14, 2007 4:32am
hi,


regards
  • #4,275
  • Nov 13, 2007 11:23am Nov 13, 2007 11:23am
Quoting vnon
Where did all the heavys go. Imran said he was shutting down the skype room because it was having problems and it couldn't handle all the people. He posts that he's closing skype room and that's it everyone's gone. No Islander, Diva, Ninja, Thunderwolf, Viking 1975 and whatever happened to Bfried he has a contribution to the main system on the front page. I thought when Imran announced he was closing the skype everyone would be coming back. What's going on, come back. Did the system start failing and everyone started losing or something? This is one of the most powerful systems and threads I have seen please don't just let it die off.


HI

I agree its a shame that this thread has gone very quiet. But I dont think the system has started failing, there has been some great set-ups over the past few sessions. Haven't traded today but prior to US close yesterday there was a great set up on EUR/JPY for 100+ pips.
Its a great system especially when trade with the trend on the bigger time frames.
  • #4,276
  • Edited 12:27pm Nov 13, 2007 12:09pm | Edited 12:27pm
Quoting kkja1178
HI

I agree its a shame that this thread has gone very quiet. But I dont think the system has started failing, there has been some great set-ups over the past few sessions. Haven't traded today but prior to US close yesterday there was a great set up on EUR/JPY for 100+ pips.
It's a great system especially when trade with the trend on the bigger time frames.
The smaller time frames are even more lucrative. . . We're just busy making money.

For a higher percentage of winning trades on the 5min tf, incorporate the macd on your charts. Execuate trades on the blue lag when they move with the cross of macd . . . you'll see a much higher success rate.

Hope that helps everyone just a little.

Happy pipping,

P.S. Here's a message from Imran - direct quote:
I have not been able to access the FF site and the thread wil not die..we will start posting there once its working ok.
Fx Diva
  • #4,277
  • Nov 13, 2007 12:26pm Nov 13, 2007 12:26pm
Quoting fxdiva
The smaller time frames are even more lucrative. . . We're just busy making money.

For a higher percentage of winning trades on the 5min tf, incorporate the macd on your charts. Execuate trades on the blue lag when they move with the cross of macd . . . you'll see a much higher success rate.

Hope that helps everyone just a little.

Happy pipping,
Hey fxdiva,

Good to have you back! there has been alot of opportunity to make good profit in the last few days!!!

My MACD setting are default (12,26,9), do you use the same?
And how do you get 2 lines on your MACD, currently mine shows 1 line and a histogram so the cross is not clear?

thanks
  • #4,278
  • Nov 13, 2007 12:32pm Nov 13, 2007 12:32pm
Quoting fti
hi,
@Tmac

friend, I may be new here, but I am a market veteran.(26 years)

just wanted to give some of you "sound advice" ,thats all.
please read very carefully, and think!

regards
I do understand what you are saying

I think most people make this so much harder than it really is with an indicator for this and that and soon they lose sight of thier charts, read the candesticks and take what the market gives you, I believe it really is that simple.......that and dont get greedy and its easy to make money from this
Don't chase the market, Let the market come to you
  • #4,279
  • Nov 13, 2007 12:56pm Nov 13, 2007 12:56pm
Quoting kkja1178
Hey fxdiva,

Good to have you back! there has been alot of opportunity to make good profit in the last few days!!!

My MACD setting are default (12,26,9), do you use the same?
And how do you get 2 lines on your MACD, currently mine shows 1 line and a histogram so the cross is not clear?

thanks
try this one, dont know if the settings are correct but it the only one I have
Attached File(s)
File Type: mq4 MACD 2 lines.mq4   2 KB | 552 downloads
Don't chase the market, Let the market come to you
  • #4,280
  • Nov 13, 2007 1:15pm Nov 13, 2007 1:15pm
Quoting Tmac
try this one, dont know if the settings are correct but it the only one I have

Thanks Tmac, that did the trick
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