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

Hi Imran and other experienced traders

note: I am not 100% sure that this might help (learning)

Would it be possible for you more experienced traders to elaborate on Divergence between the indicators and trend.

What should we look out for?
I am hoping that false signals can be less by being aware of divergence between the indies with out adding another indi but adding knowledge.
I also think most of the not so experienced traders like myself would benefit greatly if the guru's can explain why certain divergences should be avoided

Thanx in advance

ZA pip
Quoting imransait
dont worry, just dont do it now..even if it drops 50-100 pips, it can bounce bck in minute, hang on till 5 pm
eastern or GMT??

Great thread BTW! I have taken a ton of info from this thread and combined it with others to create a system that I am comfortable with. Once I forward test it on a live account for at least a month, I will post details in another thread.

Thanks again for all of the posts.
Hi just to add my to pips:
While I think there are enough people looking for ways to spot good trades I will devote some time on spotting bad trades.

My idea is as in my previous post to look into the possibility that divergence / convergence between indies could save us from bad trades and hopefully encourage good trades.

I will start by looking back at previous trades that turned bad and see if it could have been avoided had we taken not of convergence / divergence.

I will pst charts of my findings.

Please if any of you feel it is worth it join in the search otherwise if you more experienced traders know beforehand that it is a waste of time please warn me before I spend much time on a worthless mission.

Thanx
ZA pip
Quoting imransait
yes, u are paid 3 times today to take care of sat/sunday also, thats why on wed, u will not see a short side happen till 5pm and after wards it does if indis point to that
Imran does this happen every week, or every last wed of the month.
Quoting magnumfreak
eastern or GMT??
EST
....
Quoting raktrader
Imran does this happen every week, or every last wed of the month.
It's All About Attitude ...
Quoting Andrew_e
EST
Thanks.
Quoting imransait
yes, u are paid 3 times today to take care of sat/sunday also, thats why on wed, u will not see a short side happen till 5pm and after wards it does if indis point to that
The last 2 Wednesdays saw some serious shorting even before 5pm.
Hello Gents,

Can someone please explain why the trades circled in red didn't work (going short), i think they all follow the rules on the strategy. Do they not?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: short trades.JPG Size: 129 KB
Hi,
from what I have learned from this thread (and others) it is never a good idea to trade against the trend. Look at the MA they are all pointing up.
this does not mean that it will never work but its safer to stay away from trades against the trend

ZA pip
Quoting Pirabuji
Hello Gents,

Can someone please explain why the trades circled in red didn't work (going short), i think they all follow the rules on the strategy. Do they not?

Thanks
Quoting Pirabuji
Hello Gents,

Can someone please explain why the trades circled in red didn't work (going short), i think they all follow the rules on the strategy. Do they not?

Thanks
in such a strong uptrend, you do not look to go short

brief reasons

1. 60 and 200 ema trending north strongly - uptrend
2. price has not come below middle bollinger band 90% of the time its been going up
3. Fundamentals supported a strong USD , so it went up due to usd/jpy appreciating
Quoting magnumfreak
eastern or GMT??

Great thread BTW! I have taken a ton of info from this thread and combined it with others to create a system that I am comfortable with. Once I forward test it on a live account for at least a month, I will post details in another thread.

Thanks again for all of the posts.
Hi
We look forward to the info on the system that you are working on, and the details of the thread
Dear Imran,
This might sound silly but please help.

I am having difficulties to understand price action near support resistance lines.
ie: How do you decide if support or resistance is broken?
When price moves from top of BB and gets to the middle, how do you decide to if it is heading for the bottom of the BB or is it going to turn around and go back to BB top?


Thanx for sharing your knowledge so kindly and freely.

ZA pip
Quoting imransait
dale
i will contact him once i finish my trading today
that's great imransait! hope your trading is profitable today and I look forward to receiving that.

also..fyi.. Please refer to me only as Aaragorn online and remove references to any other name attached to me on the board. I prefer to keep a certain amount of anonymity in my internet presence. just for good housekeeping

I know it's probably near bed time for you right now. Once I get all the indicators and charting set up I will want to look for a time when we can go thru in some detail your decision processes in real time. I will continue to study this thread to see how much I can learn that way too.

I have a limited amount of free time that I can devote to this project and I have to divide my attention to some other things also so please be patient with me as this develops. It should still go reasonably quickly but don't expect it overnight perhaps not even in a week. I can't give you an exact time line for completion but it will come to fruition however in some form or other before long. I'm anxious to see what can be done with this so I plan to move it right along.
Quoting ZAPip
Dear Imran,
This might sound silly but please help.

I am having difficulties to understand price action near support resistance lines.
ie: How do you decide if support or resistance is broken?
When price moves from top of BB and gets to the middle, how do you decide to if it is heading for the bottom of the BB or is it going to turn around and go back to BB top?


Thanx for sharing your knowledge so kindly and freely.

ZA pip
read about candle stick formations . Price has to close below support for a downtrend and above resistance for a uptrend
Quoting imransait
read about candle stick formations . Price has to close below support for a downtrend and above resistance for a uptrend
you mention close, does pearcing of the wicks mean anything?
Quoting ZAPip
you mention close, does pearcing of the wicks mean anything?
no a complete candle close is safer
just watch some back charts to get a idea
just got back in town check your IM when you get a chance...
Enter Signature
What's the point of the Bollinger Bands when all we pay attention to is the middle Bollinger Band? The middle BB is just a 20 SMA so why not just put that there instead?
Quoting notouch
What's the point of the Bollinger Bands when all we pay attention to is the middle Bollinger Band? The middle BB is just a 20 SMA so why not just put that there instead?
we can spot a breakout on bollinger , not on a 20 SMA
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