My Gbp/Jpy semi-scalp trade | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scalp, scalp, scalp 5,689 replies

To scalp or not to scalp? (Images included) 18 replies

semi auto gbp/jpy trades 3 replies

GBP/USD hourly fib scalp ideas 64 replies

My GBP/JPY Live scalp trades on 15 mins. 11 replies

Attachments: My Gbp/Jpy semi-scalp trade
Exit Attachments

My Gbp/Jpy semi-scalp trade

  • #1
  • First Post: Edited Nov 22, 2007 12:03am Nov 15, 2007 8:26am | Edited Nov 22, 2007 12:03am
My first thread n probably be my only thread , just to keep myself on the line n see my performance at the end of the week ...
About my system , its a derivation from the trend follower system (the wicker thread) , its got everything of the system except macd and cross indicator , and its on the 1m timeframe ( very much similar to rainbow system of linuxtroll's ) , i trade only gbp/jpy , the reason is my comfortability with it probably from watching the auslancos thread ...
my entries :
after a trend is established , i determine the pullback from laguerre and price action , and enter when laguerre crosses one of its line (0.15 for buy , 0.75 for sell)
stop loss :
like the trend follower , i keep the stoploss at the lowest point from past 5-10 mins
take profit : nearest resistance (pivot points hourly n daily) whichever is earlier , or any sign of reversal , depending on price action n laguerre

thats about it , i take 2-3 trades per day , i trade on a full time basis and rarely trade during us market (rather play ps2 at nite ) , planning to do this test till december end , oh yeah i trade 1 mini lot till then
To Live is the rarest thing in the world , Most people exist , that is all
  • #2
  • Nov 15, 2007 8:39pm Nov 15, 2007 8:39pm
Good luck and profitable trading to you.
Still waters run deep
  • #3
  • Nov 18, 2007 9:35pm Nov 18, 2007 9:35pm
thanks barak
today was my first trade , not very great trade , i set a 15pips trailin instead of a tp , couldnt find a near support to set my tp ,n i had to go out for few mins ...
i attached a chart with this trade ...
S 227.47 , C 227.16 +31
u can see in my chart that a downtrend is starting to form , n a pullback was happening , indicated with laguerre ... the price went to as low as 226.70 but my trailing got hit at a minor pullback
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 84 KB
To Live is the rarest thing in the world , Most people exist , that is all
  • #4
  • Nov 19, 2007 11:52pm Nov 19, 2007 11:52pm
k today another trade worth 100 pips more went for 5 pips cos of the trailin stop ... i need to change the trailing strategy ... maybe change it to quarter of the profit value , will try that on next trade ... or take another trade once the stop is hit ...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 186 KB
Click to Enlarge Name: 2.JPG Size: 198 KB
To Live is the rarest thing in the world , Most people exist , that is all
  • #5
  • Edited Nov 20, 2007 1:59am Nov 19, 2007 11:58pm | Edited Nov 20, 2007 1:59am
some points that need to be noted
- i believe every tfs behave under same characteristic , the behavior on 1m tf can sometime be found on 4h tf , u can even use fibs on 1m and gets precise results
- only thing u need to adjust ur tp and sl when u shift timeframes , larger tf needs larger tp n sl
- thats why when u can risk only 2% of ur account to obey a sound MM , u shift ur tfs till its suitable with ur risk
- to me , 1m timeframe enables me to keep very low sl , something like 5 - 12 pips without spread
- its very important to keep a stoploss which u can afford emotionally (ie. when u lose a trade , u wont shift to vodka immediately )
- i backed my analysis with spuds theory of stochastic
To Live is the rarest thing in the world , Most people exist , that is all
  • #6
  • Nov 20, 2007 4:44am Nov 20, 2007 4:44am
Hey Maheswala

Well done on your first couple of trades and good luck on the rest of your test.

Just a thought on your risk comment. If you want to trade a lager tf then why not just make your position size smaller.

eg. Say you want to risk $100 per trade

If you want a stop loss of 10 pips, then position yourself with 100,000 units ($10/pip x 10pips = $100)

If you want a stop loss of 100 pips, then just position yourself with 10,000 units ($1/pip x 100pips = $100)
  • #7
  • Edited 5:28am Nov 20, 2007 4:50am | Edited 5:28am
Quoting Agro
Hey Maheswala

Well done on your first couple of trades and good luck on the rest of your test.

Just a thought on your risk comment. If you want to trade a lager tf then why not just make your position size smaller.

eg. Say you want to risk $100 per trade

If you want a stop loss of 10 pips, then position yourself with 100,000 units ($10/pip x 10pips = $100)

If you want a stop loss of 100 pips, then just position yourself with 10,000 units ($1/pip x 100pips = $100)
hey agro , true on that , but since its on testing stage , im using a live mini account , and so the smallest lot i can take is 0.1 lot , position sizing is definitely in my mind if i can take more lots , thanks a lot for the suggestion
To Live is the rarest thing in the world , Most people exist , that is all
  • #8
  • Nov 20, 2007 7:43am Nov 20, 2007 7:43am
Quoting maheswara
hey agro , true on that , but since its on testing stage , im using a live mini account , and so the smallest lot i can take is 0.1 lot , position sizing is definitely in my mind if i can take more lots , thanks a lot for the suggestion

Hey maheswara,

I don't know which broker you use, but with Oanda you can trade any size you wish, even 1 unit. This comes in handy when testing out new strategies or when starting out with a small account.

Also, the spreads are better than any of the market makers out there - 0.9 for E/U, 1.6 for U/J, 2.5-3 for G/U etc. Only downside is that spreads widen to about 10 pips for E/U and U/J and about 20 pips for G/U when big news hits the market, but this generally only lasts a few seconds.
  • #9
  • Edited 7:50pm Nov 20, 2007 9:20am | Edited 7:50pm
Quoting Agro
Hey maheswara,

I don't know which broker you use, but with Oanda you can trade any size you wish, even 1 unit. This comes in handy when testing out new strategies or when starting out with a small account.

Also, the spreads are better than any of the market makers out there - 0.9 for E/U, 1.6 for U/J, 2.5-3 for G/U etc. Only downside is that spreads widen to about 10 pips for E/U and U/J and about 20 pips for G/U when big news hits the market, but this generally only lasts a few seconds.
ah yeah , ecn brokers can do that (trade at any size) , i use royal trader (mt4 based broker) , they have 0.1 lot as smallest size , till now , everything about them is good including fast execution , and i m very comfortable using mt4 which also gives the edge for programming , would be happy if my broker gives mini lots option , i ve tried mtb (another ecn) platforms , they are confusing after using mt4 ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #10
  • Nov 20, 2007 12:28pm Nov 20, 2007 12:28pm
Hey maheswara
Can you post, your tpl rainbow and Laguerre settings.
Thanks
  • #11
  • Nov 20, 2007 7:48pm Nov 20, 2007 7:48pm
Quoting chaveznqoos
Hey maheswara
Can you post, your tpl rainbow and Laguerre settings.
Thanks
hey chavez , the system is available at 5 mins trend follower thread (by the wicker) http://www.forexfactory.com/showthread.php?t=40325 , just remove the macd , cross arrows and volatility channel from the system and use the eye friendly version of pivot points , laguerre setting is the same (gamma = 0.66)
u get everything from attachment on that thread ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #12
  • Nov 21, 2007 5:43am Nov 21, 2007 5:43am
well today been bad for me , expected a bounce at around 225 although everything was giving bearish view , lost some pips (around -50) jumping in and out of trades , was waiting for a bull trend to establish , in the end the bear was non-stoppable , there were some amazing entries on my system , i didnt take it , thinking an uptrend is due , anyway now I'm waiting on the sidelines waiting for a reversal , maybe tomorrow's Asian session ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #13
  • Nov 21, 2007 9:43pm Nov 21, 2007 9:43pm
here is my first trade of the day , stop is shifted to be+1

L 224.55 TP 225.27 (hr rsistance)

update : in the 2 mins i took to write n post a chart , a sudden spike down hit my stop exactly and went back up ... lol ... hmmm so if i had my usual 15 trailin , i cld have taken 15pips ... spike doesnt happen often , guess ill stick with the be+1 after 25 pips for some more time and see if it yields more ...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 209 KB
To Live is the rarest thing in the world , Most people exist , that is all
  • #14
  • Nov 21, 2007 10:14pm Nov 21, 2007 10:14pm
the spike that hits my stop , and the spike that would have hit my target , but then guess would doesnt exist in market world (steviets quote) , i think i may change the strat to 25pips trailin and a retake of position immediately ...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 198 KB
To Live is the rarest thing in the world , Most people exist , that is all
  • #15
  • Nov 22, 2007 1:28am Nov 22, 2007 1:28am
my analysis at the moment shows an upward trend is due (again) , im going to wait for the current short term downtrend to shift upward (breaking of rainbow) and go long at the first retracement ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #16
  • Nov 22, 2007 8:15pm Nov 22, 2007 8:15pm
no trade yesterday , the pair might go up today , but ill be extra cautious taking any trade ...
addition to note : when rainbow breaks during a pullback , be cautious , it might indicate a short reversal ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #17
  • Nov 26, 2007 2:49am Nov 26, 2007 2:49am
an uptrend is being established in the london session , would enter at retracement , laguerre might not touch 0 at retracement , looks like a strong move since it just breaks the upper resistance after few hours of trying ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #18
  • Nov 26, 2007 2:55am Nov 26, 2007 2:55am
so u expect a retracement from 225?
  • #19
  • Nov 26, 2007 3:00am Nov 26, 2007 3:00am
hey no i entered at this small retracement ,as expected laguerre didnt touch 0 , might indicates a strong move
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 196 KB
To Live is the rarest thing in the world , Most people exist , that is all
  • #20
  • Nov 26, 2007 3:04am Nov 26, 2007 3:04am
but again there should be a major retracement later , might wait for that to enter if u aim a bit longer term , im lookin for quick profit , n would enter at major retracement again (when laguerre hits 0)
To Live is the rarest thing in the world , Most people exist , that is all
0 traders viewing now