Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 232 | 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

  • #4,621
  • Nov 23, 2007 11:09am Nov 23, 2007 11:09am
Quoting Jared
You mean set the levels right, your not talking about the gamma....?

Jared
Nevermind......you must be taking about the gamma. Here is how the chart looks now:
Attached Image (click to enlarge)
Click to Enlarge Name: RSI2.jpg Size: 329 KB
  • #4,622
  • Nov 23, 2007 11:15am Nov 23, 2007 11:15am
for the 1 min I have been playing with some alternate #s for the MACD traditional

5, 21, 8

and

9, 22, 14 for the 5 min


still tesing them out
  • #4,623
  • Nov 23, 2007 11:17am Nov 23, 2007 11:17am
Quoting Jared
Nevermind......you must be taking about the gamma. Here is how the chart looks now:
great great great that looks like fast earning money... :surprised
  • #4,624
  • Nov 23, 2007 11:31am Nov 23, 2007 11:31am
Quoting Jared
Nevermind......you must be taking about the gamma. Here is how the chart looks now:
yes, jared, its gamma and if ur on ECN, this is amost like ur ATM at home

for stoch histo, use 9,3,3 for 1 min
  • #4,625
  • Nov 23, 2007 11:38am Nov 23, 2007 11:38am
guys
see the below demo a/c which i traded on and off with the method i am using, just to show what returns can be generated if u use the system correctly
Attached Image (click to enlarge)
Click to Enlarge Name: demo.JPG Size: 90 KB
Attached File(s)
File Type: xml demo-imran.xml   139 KB | 917 downloads
  • #4,626
  • Nov 23, 2007 12:18pm Nov 23, 2007 12:18pm
hi imran,

I'm interested in participating in the pooled account. I've emailed you my email address.

thanks

Amarjit
  • #4,627
  • Nov 23, 2007 1:04pm Nov 23, 2007 1:04pm
Sorry I'm new here, but did the 'blue lag - 25 and red lag - 40' means set the gamma1 to 0.25 and gamma2 to 0.40?

Thanks.

Tony


Quoting imransait
Hi Jared

laguerre is a advanced RSI, which keeps u in the trend longer than the normal rsi does, for 1 min, try out this blue lag - 25 and red lag - 40, take a trade when both are turning and macd is crossover
  • #4,628
  • Nov 23, 2007 1:07pm Nov 23, 2007 1:07pm
Would definitely be in on the pooled account too if possible.
My Email is :[email protected]
  • #4,629
  • Nov 23, 2007 1:16pm Nov 23, 2007 1:16pm
Quoting Tony ESW
Sorry I'm new here, but did the 'blue lag - 25 and red lag - 40' means set the gamma1 to 0.25 and gamma2 to 0.40?

Thanks.

Tony
That is what I understood it to mean. Although, I still don't know if it's better than using the RSI like I mentioned before, and just keeping the default settings on the lags. The downside is you have to add another indicator if you add RSI though.

Let me know how it works for you. I am new to this strategy as well and am currently testing it out. I have my own scalping strategy and I think this one can compliment it and improve it.
  • #4,630
  • Nov 23, 2007 1:17pm Nov 23, 2007 1:17pm
Tony - Yes, that is correct; one must be quick though.
  • #4,631
  • Nov 23, 2007 1:25pm Nov 23, 2007 1:25pm
Imran,

Are the trades in the report taken with 5-min entries or do they include 1 minute trades/triggers? Thanks much.
  • #4,632
  • Nov 23, 2007 1:26pm Nov 23, 2007 1:26pm
Ok, here is a trade I just made with GBP/JPY. Purple circles are where and why I entered, brown circle is where I was stopped out.

Did I miss something? What did I do wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: Wrong.jpg Size: 331 KB
  • #4,633
  • Nov 23, 2007 1:26pm Nov 23, 2007 1:26pm
Quoting Alexandra
Imran,

Are the trades in the report taken with 5-min entries or do they include 1 minute trades/triggers? Thanks much.
some are 5 min,. some are 1 min, mix but mostly 5 mins one
  • #4,634
  • Nov 23, 2007 1:27pm Nov 23, 2007 1:27pm
Guys
am flat now and over for the week, see u on Monday
have a great weekend
  • #4,635
  • Nov 23, 2007 1:28pm Nov 23, 2007 1:28pm
Thanks guys, I will test it out.

And why don't we have a real time chat room so we can trade together everyday? it should be better than this kind of post.
  • #4,636
  • Nov 23, 2007 1:44pm Nov 23, 2007 1:44pm
Quoting Jared
Ok, here is a trade I just made with GBP/JPY. Purple circles are where and why I entered, brown circle is where I was stopped out.

Did I miss something? What did I do wrong?
'should haves' & 'could haves' don't pay our bills, nonetheless here's my take on it: the signal and the confirmation were all there. The only thing I noticed is that you took a counter trend trade. As soon as the price action was turning back up above EMA-60 perhaps you should have closed the position and take the 10-something pips that were left on the table.

cheers
Ohka
  • #4,637
  • Nov 23, 2007 1:46pm Nov 23, 2007 1:46pm
Please I was impressed by your response to my post yesterday. But I did tried to download it but all to no avail. Is there anything else or any other way I that I have to use to download it or is there any software that has to be installed on my computer before I will be ablt to downlaod this

http://forexfactory.com/images/attach/mq4.gif###Auto Pivot.mq4 (15.2 KB, 4733 views)
http://forexfactory.com/images/attach/mq4.gifStochHistogram.mq4 (2.6 KB, 3861 views)
http://forexfactory.com/images/attach/ex4.gifMACDTraditional.ex4 (3.2 KB, 1217 views)
http://forexfactory.com/images/attach/tpl.gifimran_setup.tpl (8.5 KB, 1296 views)
http://forexfactory.com/images/attach/ex4.gifLaguerre-ACS1.ex4 (3.7 KB, 1215 views)

Though the 5mins was downloaded successfuly but the Auto Pivot, Stoch , MACD and the main Lagurrer did not download.

I hope I can plot pivot with any other calculator and the Stoch and MACD are also on my Meta4 or will I have to down and use this particular one on this system?

Please I need your assistance before I fianally get fresked out from losing the little i have left in my account.

Thank for this system once more
  • #4,638
  • Nov 23, 2007 1:52pm Nov 23, 2007 1:52pm
Quoting Ohka
'should haves' & 'could haves' don't pay our bills, nonetheless here's my take on it: the signal and the confirmation were all there. The only thing I noticed is that you took a counter trend trade. As soon as the price action was turning back up above EMA-60 perhaps you should have closed the position and take the 10-something pips that were left on the table.

cheers
Ohka
Ok, good point. However, the reason I took this trade in this direction is because it was not counter trend on a longer chart. On the 5 min it was trending down (see attached chart). It looked like the market was correcting from the downtrend and was stalling at the 0.618 fibo level. That is another reason I shorted this one. But what can I say, it didn't go as planned. Maybe I should pay more attention to the 60 MA.
Attached Image (click to enlarge)
Click to Enlarge Name: now.jpg Size: 342 KB
  • #4,639
  • Nov 23, 2007 2:06pm Nov 23, 2007 2:06pm
Quoting Tony ESW
Thanks guys, I will test it out.

And why don't we have a real time chat room so we can trade together everyday? it should be better than this kind of post.
Tony...

I started a chat room for that very purpose but am very discouraged with the results.

This thread is great for the discussion of trades/setups and the posting of charts to illustrate points. However, I had hoped my chat room would provide a place for real-time analysis.

The results so far have been far from that. Frankly speaking, most of my visitors have been people that are just looking for someone to call signals for them. I don't mean to seem harsh but I get the impression (from the questions asked) that most have not even bothered to read the PDF in Post #1! The intended purpose of the chat was to provide a place for real-time analysis...not for me to be someone's personal tutor and signal-caller.

The old skype chat was an enormous help to me as there were very knowledgable folks there that offered tips and nuances as to the interpetration of the system. I had hoped to continue that in my chat room but things are looking bleak.

I'll try again for a couple of days next week but, if things don't improve dramatically, I'll just close it.
  • #4,640
  • Edited 2:50pm Nov 23, 2007 2:48pm | Edited 2:50pm
Orion, I had no Idea You had a room, if You would, please post the location. I trade this method with success although I have made some small personal changes, the overall method is still very intact. Here is a shot of my chart on AUD/JPY...i took the trade long at Vertical line for somepips over 94.50 to the pivot. Again, let me Know if I can help. Thanks....OK, No vert line....Sorry...went long around 16:45 on my chart
Attached Image (click to enlarge)
Click to Enlarge Name: ausjpy.gif Size: 31 KB
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