Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 227 | Forex Factory

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

  • #4,521
  • Nov 21, 2007 3:46pm Nov 21, 2007 3:46pm
Quoting Billser
Thanks Imran and IQTrading.....

OK one last question...... when will the G/J bottom out and start heading back up to the 240 range and beyond.......lmao....only joking.....but heck you have been very responsive to my last two questions......
hmm..i am expecting it to bottom at 210-212 area before the year end
  • #4,522
  • Nov 21, 2007 3:47pm Nov 21, 2007 3:47pm
Quoting jamesr24
i am with you brother, riding it down at $10 per lot, so far so good. Sent you a PM, when you get a chance...
Hi Bro
saw ur pm, was busy, will reply, u trying the 1min one , works good huh
stick to 5 /15 min for safer trades, enough pips to be made there
now u should aim for 20% everyday minimum
  • #4,523
  • Nov 21, 2007 3:51pm Nov 21, 2007 3:51pm
Hi Billser, I used to use yahoo charts but Thunderwolf found a metatrader broker that offers these and commodities. www.aleccohfx.com Thanks to Thunderwolf for this!

Many pips!

Chris
Push yourself to your fullest potential!!
  • #4,524
  • Nov 21, 2007 3:55pm Nov 21, 2007 3:55pm



Quoting viking1975
Hi Billser, I used to use yahoo charts but Thunderwolf found a metatrader broker that offers these and commodities. www.aleccohfx.com Thanks to Thunderwolf for this!

Many pips!

Chris
It's All About Attitude ...
  • #4,525
  • Nov 21, 2007 4:03pm Nov 21, 2007 4:03pm
Thunderwolf, do you them as your broker?

Quoting viking1975
Hi Billser, I used to use yahoo charts but Thunderwolf found a metatrader broker that offers these and commodities. www.aleccohfx.com Thanks to Thunderwolf for this!

Many pips!

Chris
  • #4,526
  • Nov 21, 2007 4:41pm Nov 21, 2007 4:41pm
imran

sincerely i dont know how much i would have thanked you but the only thing i wil say is thank you, you are truly special.
though iam newly using your system, well i startted yestday.
my trade today
demo account - i made 41pips and immediately after that 2 trade i switched to live account and i made 87pips.
pairs g/u u/ch aud/usd
glory b to god for your live and this opportunitty.
thanks again for not customizing it by turning it to signal which will be paid for.
  • #4,527
  • Nov 21, 2007 4:43pm Nov 21, 2007 4:43pm
Quoting et_phonehome_2
Would you wait for a complete candle close below the middle BB line before even considering a possible trade or maybe wait for another short opportunity?
I would wait for the trend to resume down...no matter where the last candle closed.

When the ema's and the middle BB line are pointing up, I am only looking for longs and, even then, I want the price near or above the daily pivot and far enough away from any major resistance level to make it a good opportunity. For example, even if everything indicated BUY and the price was only 20 or so pips from the next major resistance, I would be very careful. A 20 pip SL is nothing for GJ and I certainly don't want to risk 35 pips in hopes of gaining only 20. If I felt the trend was strong (ema's sharply up), I might still take the trade but I would watch it like a hawk and move the SL to BE as soon as I could.
  • #4,528
  • Nov 21, 2007 5:34pm Nov 21, 2007 5:34pm
Hey, this is my first post in this thread. Looks like a good strategy and I am going to test it out. I am new to MT4 (just downloaded it). I was able to import the template and indicators, but the 2 Laguerre indicators are in seperate windows. How do I combine them into 1 window to get them to look like your charts?

(Sorry for my inexperience with MT4, I have been using XTick).
  • #4,529
  • Nov 21, 2007 5:45pm Nov 21, 2007 5:45pm
Use the template and indicators on page 1
  • #4,530
  • Nov 21, 2007 5:52pm Nov 21, 2007 5:52pm
Quoting yen2trade
Thunderwolf, do you them as your broker?
Hi Yen2trade,

Aleccohfx is not my broker, I just use their charts to see price of oil, gold,Dow Jones, S&P500, Nasdaq and other equities and commodities markets. Like my friend Viking said, it helps to see the price action in these other markets to see how it moves the Currency Pairs. Their demo charts are free so why not use them. I think Imrain also said North Finance shows some of the other markets on their charts. Check them both out and see which one you like.

Best wishes to you with your trading......T-Wolf
  • #4,531
  • Nov 21, 2007 5:53pm Nov 21, 2007 5:53pm
Quoting imransait
Bill
if u watch the last bull candle, its a reversal sign, Macd crossover, Daily S1, lag going down, stoch also going down, a classical perfect trade, hold it for 200 pips, i am short from 224.70 area , targetting 222.60
I have gotta be missing something here...

I can't find a short signal on any time-frame around 224.70.

But I can see long or exit short signals on the short TFs.

I guess Imran is not trading this system???
  • #4,532
  • Nov 21, 2007 5:55pm Nov 21, 2007 5:55pm
I heard this place from my friend and spent 2 days to go through everything. I have to say this is the best place I've ever seen, thanks for all the folks to keep this place active.

I've trade Fx for 3 year, and when I start my demo for this strategy yesterday, I feel the stop loss is a bit tigh for me, I put it (21+spread) pips away, right on the top of a resist. (I use IBFX for demo, so 9 pip spread, but I will use MB for live)

What I did is put in 2 lots, and get out very quick on first lot with 10+ profit and let the second lot run(stop out break even later).

I will do more practise and thanks again for all of you.

Tony

PS: I'm not sure if the attached picture will work or not, never load picture before.
Attached Image (click to enlarge)
Click to Enlarge Name: First short.jpg Size: 134 KB
  • #4,533
  • Nov 21, 2007 6:10pm Nov 21, 2007 6:10pm
Quoting underthehedge
I have gotta be missing something here...

I can't find a short signal on any time-frame around 224.70.

But I can see long or exit short signals on the short TFs.

I guess Imran is not trading this system???
Hi there,

It's possible that Imrain switched to the 1M chart when he took his trade. The signal to go short would have been at 224.66, which is in the 224.70 area as he had stated. On the 5M chart your entry would have been at 224.45
  • #4,534
  • Nov 21, 2007 6:16pm Nov 21, 2007 6:16pm
Quoting Alexandra
Use the template and indicators on page 1
I did. But I am trying to get 2 lag indicators into one window, instead of 2 seperate windows. How do combine them in the same window (so they cross each other)?

Here is what it looks like now:
Attached Image (click to enlarge)
Click to Enlarge Name: MT4 chart.jpg Size: 315 KB
  • #4,535
  • Nov 21, 2007 6:17pm Nov 21, 2007 6:17pm
Hi thonderwolf,

I can see what you mean short at 224.66 on 1M chart(20:17), but I can not see the signal until the bar is finished which means I will short on the next bar at 224.60(20:18). I always have this question when I read the pictures. Anything wrong? Can you please help?

Thanks.

Tony

Quoting thunderwolf
Hi there,

It's possible that Imrain switched to the 1M chart when he took his trade. The signal to go short would have been at 224.66, which is in the 224.70 area as he had stated. On the 5M chart your entry would have been at 224.45
  • #4,536
  • Nov 21, 2007 6:27pm Nov 21, 2007 6:27pm
Quoting Jared
I did. But I am trying to get 2 lag indicators into one window, instead of 2 seperate windows. How do combine them in the same window (so they cross each other)?

Here is what it looks like now:
Jared...

Delete the Lag2 from your chart. Now, open the Navigator window and DRAG the Laguerre indicator to the window that contains Lag1.

Adjust color and input properties...that should do it.
  • #4,537
  • Nov 21, 2007 6:30pm Nov 21, 2007 6:30pm
Quoting Tony ESW
Hi thonderwolf,

I can see what you mean short at 224.66 on 1M chart(20:17), but I can not see the signal until the bar is finished which means I will short on the next bar at 224.60(20:18). I always have this question when I read the pictures. Anything wrong? Can you please help?

Thanks.

Tony
Hey there Tony,

Nothing wrong with your analysis for entry at 224.66 It's a matter of preference Tony, some people like to wait for the close of the bar to confirm their entry others will be aggressive and enter when the lag crosses down if the other indicators seem to be in agreement, stochastic heading down towards negative, macd crossing or about to cross, price action such as lower highs and lower lows. If you're in doubt wait for bar closes for solid confirmation. Hope that helps Tony! Have a good one!!.....T-Wolf
  • #4,538
  • Nov 21, 2007 6:34pm Nov 21, 2007 6:34pm
Thanks thonderwolf, I really enjoy here!
  • #4,539
  • Nov 21, 2007 6:35pm Nov 21, 2007 6:35pm
Quoting thunderwolf
Hi there,

It's possible that Imrain switched to the 1M chart when he took his trade. The signal to go short would have been at 224.66, which is in the 224.70 area as he had stated. On the 5M chart your entry would have been at 224.45
BUT... All averages were rising and price was above them and above the daily pivot, so no short should have been taken, right?
  • #4,540
  • Nov 21, 2007 7:03pm Nov 21, 2007 7:03pm
Quoting orion70
Jared...

Delete the Lag2 from your chart. Now, open the Navigator window and DRAG the Laguerre indicator to the window that contains Lag1.

Adjust color and input properties...that should do it.
Thanks a lot! That is what I don't like about learning new software, I always seem to get stuck on something simple. Seems like MT4 is the chart software of choice on this forum.
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