Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 245 | 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

  • #4,881
  • Nov 27, 2007 8:15am Nov 27, 2007 8:15am
i made over 500 pips in between the arrowes ,do you see what i see?
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  • #4,882
  • Nov 27, 2007 8:23am Nov 27, 2007 8:23am
Quoting steven
i made over 500 pips in between the arrowes ,do you see what i see?
Wait me a moment, I am trying to understand your chart....
- Ray Tracy - Novice forex trader from GMT+8
  • #4,883
  • Edited 8:52am Nov 27, 2007 8:35am | Edited 8:52am
Quoting steven
i made over 500 pips in between the arrowes ,do you see what i see?
OK, this chart play with channel/tunnel and S/R level. You sell at R, buy at S level.

My question is

1. how can you draw such precision S/R level? My S/R always has few to tens pips away from the bounce/breakout point.

2. how do you know which S/R to stop? for example, look at the 2nd S/R (@1.4865), why didn't you stop buy and sell here? How did you know it was only little retrace and continue the trend? (of course I know there is channel line for reference, but it may also bounce off at center line not border)

You are so kindly and I would like to thanks for your help!!

I have try to draw same line. Since your trade start at 13-Nov, all reference should in before that date. I place a blue vertical line to mark the 12-Nov 12:00, and draw a channel before that line.

Center line? Hmmm....I have no idea. Are you draw it with Pitchfork or Fib channel?

But S/R line still bother me. I don't know how do you draw these 4 blue lines?

By the way, maybe we should initial a new thread for this private lesson, and leave here clean for original topic discussion?


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- Ray Tracy - Novice forex trader from GMT+8
  • #4,884
  • Nov 27, 2007 8:48am Nov 27, 2007 8:48am
look, its very crucial to draw your lines precisly, it only takes a few minutes.take the low prices at least two points and draw a line same with high points now you get a channel,draw a middle line parallel,look how the prices move around it,i know it takes time to spot it.now what happen if i open a position when the price touch the upper or lower line and i only use 30 pip sl to make a 100 now thats good risk /reward,always look for area where price is stopping on several candels and draw your horizontal lines.thats why you need to post your chart so i can see how YOU do it.one more thing i am using fibs levels also but thats another story,so please do it
  • #4,885
  • Nov 27, 2007 8:54am Nov 27, 2007 8:54am
the 4 blue line its not showen the whole price action cause limited space but what need to do is always lookk for at least 2 high point and 2 low the more better cause it means price has a hard time to break that level especially on 4h tf. once you can spot those areas youll be fine,i de posting another chart where you can see that better
  • #4,886
  • Nov 27, 2007 8:59am Nov 27, 2007 8:59am
pm me your email cause we need to go back to Imran' system before somebody gets mad
  • #4,887
  • Nov 27, 2007 9:15am Nov 27, 2007 9:15am
tghanks for thou contribution.
is this thread of yours a robot stuff i mean is it automated stuff that we attach to chart or somthing else. can you please tell e more on how to use it.
however i am just two months old in the fx jungle.

i will appreciate your reply.
xpert
  • #4,888
  • Nov 27, 2007 9:31am Nov 27, 2007 9:31am
Quoting expertshow
tghanks for thou contribution.
is this thread of yours a robot stuff i mean is it automated stuff that we attach to chart or somthing else. can you please tell e more on how to use it.
however i am just two months old in the fx jungle.

i will appreciate your reply.
xpert
no robots!i would not let my money traded by a robot.you know sometimes emotion is good,do you think a robot can recognized market sentiments?i am using plain old commen sense and of course a little experience.

to fx ninja: cant send pm yet
  • #4,889
  • Nov 27, 2007 9:40am Nov 27, 2007 9:40am
Quoting Alexandra
The LIPSA is a combination of the indicators to give buy/sell signals. It may give you most of what's needed for an EA. PM Chandra when you get your 15 posts!
Just did that, waiting for reply
  • #4,890
  • Nov 27, 2007 9:41am Nov 27, 2007 9:41am
Yes, I have similar concern about an EA; however for the so-called "perfect setups" it would be very nice to have indeed.
  • #4,891
  • Nov 27, 2007 9:42am Nov 27, 2007 9:42am
at this point I'm just gathering information and trying to locate all the relevant indicators. If you have access to the .mq4 files for the indicators that would be helpful to me. I can't get the .ex4 files to work.

Quoting daledane
Aaragorn
Chandra
Imran

I would like to collaborate on the EA being created. Can we start a new thread for the collaboration or just do it here?

Greatest Success ***Dale***
  • #4,892
  • Nov 27, 2007 9:51am Nov 27, 2007 9:51am
Quoting Aaragorn
at this point I'm just gathering information and trying to locate all the relevant indicators. If you have access to the .mq4 files for the indicators that would be helpful to me. I can't get the .ex4 files to work.
Oh that's right - they can't be opened. Can you list the ones you need? If I recall, most are .mq4 and some are .ex4
  • #4,893
  • Nov 27, 2007 9:59am Nov 27, 2007 9:59am
Quoting orion70
AUDUSD vs DAX 0.815435829
Hi,
I'm doing a research project on the correlation between the DAX and AUDUSD.
For a period of 5 years on daily data from 11/7/2007 back, my R^2 value is
0.81904

I am afraid that this high value is due to the high number of observations.
Calculating the r^2 values for each of the past 5 years I only get r^2 values of
0.3132
0.2379
0.2343
0.0754
0.7571
in chronological order. So only in 2007 was there a quite high correlation.

How can the correlation be explained? Is there literature on that topic? Maybe on similar financial data?

Thanks,
Martin
  • #4,894
  • Nov 27, 2007 11:24am Nov 27, 2007 11:24am
Hi Imran,

I'm not very familiar with bits and bytes of MT4, but I found that there is an error with the settings of Laguerre indicator. The MaxBars parameter value is 1000. It can be changed, but every time the program is restarted, the value goes back to 1000.
I tried to save it as a new template, but it didn't help. After restart it is back 1000 bars.

Is it just me or does it happen to others as well ?

BR

Dani M
  • #4,895
  • Nov 27, 2007 11:39am Nov 27, 2007 11:39am
hey i have been testing this system out and it is looking really good for me so far!

sometimes i dont know when to jump in though, all the signals are in order but usually it is counter trend.

Which time frame should i determine the trend from? and how often should i take a counter trend trade?
  • #4,896
  • Nov 27, 2007 11:43am Nov 27, 2007 11:43am
Imran,

Please take a look at my findings -
<expert>
name=Laguerre-ACS1
flags=339
window_num=3
<inputs>
gamma=0.80000000
MaxBars=1000
MA=2
</inputs>

I think this is were the problem cames from.
BR
Dani M
  • #4,897
  • Nov 27, 2007 11:53am Nov 27, 2007 11:53am
Quoting Aaragorn
at this point I'm just gathering information and trying to locate all the relevant indicators. If you have access to the .mq4 files for the indicators that would be helpful to me. I can't get the .ex4 files to work.
an ex4 file is compiled code and cannot be used unless you have the .mq4 which is is open code on the MT4 platform.

please alert me when you are ready to collaborate on it

Greatest Success ***Dale***
  • #4,898
  • Nov 27, 2007 12:44pm Nov 27, 2007 12:44pm
Trading this system with a robot EA would only be useful when you have a "perfect trade setup" that can be found in the rules and transfered to the chart. I personally would use the EA when I went to sleep for the night and wanted to catch that "perfect trade" if and only if all the rules lined up "perfectly" and then when I awaken I can have an "upside surprise" waiting 90% of the time

Greatest Success ***Dale***
  • #4,899
  • Edited 1:26pm Nov 27, 2007 1:25pm | Edited 1:26pm
Hi everyone and specially Imran
Forst of as this is my first post:
Thank you Imran for starting this thread. Your honesty and humbleness made me realize that all is not lost for me in forex.

Just by reading this thread I have learned more than all the paid courses and strategies that I have tried.

Once I started to read I couldn't go t bed and when I eventually went to bed I couldn't sleep - too exited.

To everyone else thank you for the questions you have asked and answered every single one of them made me a better trader.

Thanks again for all the info and insight ans knowledge that you all are sharing he so freely - you all should get grammy awards.

Now, for my problem Can someone please confirm the correct / best settings for the indicators (or are the ones in the PDF the one and only.

I would like to trade the GBP/JPY and / or USD/JPY and a 15min chart. You are welcome to suggest other better proven crosses and time frames.

Thank you in advance

ZAPip
  • #4,900
  • Edited 2:09pm Nov 27, 2007 1:37pm | Edited 2:09pm
reason for my previous post #4900 is that everytime a notice a signal it is allready at the end iow if I see a buy it has allready reached the top and if I see a sell it allready reached the bottom.
Testing mostly GBP/JPY on 15m chart

Any ideas?
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