Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 263 | Forex Factory

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

  • #5,241
  • Nov 30, 2007 4:35am Nov 30, 2007 4:35am
Quoting imransait
hey guys
when have i posted any SPAM , ?? it was a article and had to give credit to the author, i cant this is mine, can i ?
BTW i am not endorsing anyone, just a article which i thought will be good to read
No offence. It's just the "article" looks like an advertisement for a website and has nothing to do with your system so I was curious why you would post it in your (otherwise excellent) thread.
  • #5,242
  • Nov 30, 2007 4:43am Nov 30, 2007 4:43am
Quoting notouch
No offence. It's just the "article" looks like an advertisement for a website and has nothing to do with your system so I was curious why you would post it in your (otherwise excellent) thread.
I thought the article was also "excellent", and could contribute to bettering ourselves as traders in general. Thanks Imran!
  • #5,243
  • Nov 30, 2007 6:17am Nov 30, 2007 6:17am
Quoting dbeach777
I thought the article was also "excellent", and could contribute to bettering ourselves as traders in general. Thanks Imran!
Excellent Article and I did not consider it "spam" but education for the masses on this and any thread or blog! Thanks Imran!

Could anyone look at this chart and give me feedback. Why did this sell fail? Woud you have taken this trade why or why not? Thank You for the help and the education on this thread!

Greatest Success ***Dale***
Attached Image (click to enlarge)
Click to Enlarge Name: GYchart30Nov.jpg Size: 224 KB
  • #5,244
  • Nov 30, 2007 6:46am Nov 30, 2007 6:46am
you need to look at price action.

when the mkt is moving up, u will get many early signals to go short.

if u want to take the CT , WAIT for the retrace to increase your chances.

there is a minor dbl top there.

As u can see, the mkt retraced to that area.

It is not foolproof,however, it can help to get u a better fill and that will reduce your risk, in particular if the trade doesnt work out.


FOR ALL NEW PPL, PLEASE PAY ATTENTION TO THIS CUZ I HAVE SAID IT A GAZILLION TIMES.

Quoting daledane
Excellent Article and I did not consider it "spam" but education for the masses on this and any thread or blog! Thanks Imran!

Could anyone look at this chart and give me feedback. Why did this sell fail? Woud you have taken this trade why or why not? Thank You for the help and the education on this thread!

Greatest Success ***Dale***
  • #5,245
  • Nov 30, 2007 6:52am Nov 30, 2007 6:52am
Quoting daledane
Excellent Article and I did not consider it "spam" but education for the masses on this and any thread or blog! Thanks Imran!

Could anyone look at this chart and give me feedback. Why did this sell fail? Woud you have taken this trade why or why not? Thank You for the help and the education on this thread!

Greatest Success ***Dale***
Hi Dale,

The main reason I didn't take that trade was it is against the trend. Always look to see how the higher time frames are trending. GJ had been trending up for the last 24 hours and that has not been broken yet, and although it's at a bit of resistance right now, it could as well resume upwards. Any trading against trend could be suspect, and if it doesn't work out I am never surprised, because I know the risk of counter trending... yea I know all too well the temptations of taking counter trend trades, but I'm trying to learn that it's easier to "go with the flow"

To our success!
  • #5,246
  • Nov 30, 2007 8:04am Nov 30, 2007 8:04am
Quoting fx_ninja
you need to look at price action.

when the mkt is moving up, u will get many early signals to go short.

if u want to take the CT , WAIT for the retrace to increase your chances.

there is a minor dbl top there.

As u can see, the mkt retraced to that area.

It is not foolproof,however, it can help to get u a better fill and that will reduce your risk, in particular if the trade doesnt work out.


FOR ALL NEW PPL, PLEASE PAY ATTENTION TO THIS CUZ I HAVE SAID IT A GAZILLION TIMES.
Thank you for your input and suggestions. Retrace did happen, blu lag pinned to top comes down to .85 level, MACD crossed from pos to negative same for Stoc. LISPA 2 gives alert. Am I in the "perfect trade now? If not why not ??? Would you take this trade? Why or Why not?

As Always...
Greatest Success ***daledane***

fx ninja most people will have to be told this another GAZILLION Times so just keep up the good work you do in this tread. We do very much appreciate your commentary!

dbeach, would you have taken this CT trade or do you just wait for the Perfect BUY to come along to stay in the uptrend of the last 24 hours. Can you see when that trend is broken?

As I write this both lags are pinned at the bottom meaning time to TP
Attached Image (click to enlarge)
Click to Enlarge Name: GYchart30Nov(b).jpg Size: 254 KB
  • #5,247
  • Nov 30, 2007 8:37am Nov 30, 2007 8:37am
Steve,

I have been using the big figure ema figure(100, 200) on a at least 4h time frame most especially on eur pairs and amaizingly works successful. no indicator except for fibo for take profit, price will normally bounce on the ema and it will go that direction a long time and sure of many pips but trades opportunities are seldom using this method but ever reliable simple method.

Thanks steve for your contribution but may i ask you on what time frame do you plot your ema?

Thanks bro
  • #5,248
  • Nov 30, 2007 8:41am Nov 30, 2007 8:41am
Quoting daledane
Thank you for your input and suggestions. Retrace did happen, blu lag pinned to top comes down to .85 level, MACD crossed from pos to negative same for Stoc. LISPA 2 gives alert. Am I in the "perfect trade now? If not why not ??? Would you take this trade? Why or Why not?

As Always...
Greatest Success ***daledane***

fx ninja most people will have to be told this another GAZILLION Times so just keep up the good work you do in this tread. We do very much appreciate your commentary!

dbeach, would you have taken this CT trade or do you just wait for the Perfect BUY to come along to stay in the uptrend of the last 24 hours. Can you see when that trend is broken?

As I write this both lags are pinned at the bottom meaning time to TP

Perfect trade setup, positively u should be in Profit
  • #5,249
  • Nov 30, 2007 8:41am Nov 30, 2007 8:41am
Quoting imransait
Hi Guys
I am seeing lots of queries and i will answer them all this weekend, currently bit busy in personal as well as official work

Also the pooled a/c is closed with all confirmed, for those who missed it, look forward to another announcement by Feb 2008 for some really exciting news about the pooled a/c

imran
I never even heard about it... Oh well I missed out I guess....
  • #5,250
  • Edited 9:27am Nov 30, 2007 9:18am | Edited 9:27am
Quoting imransait
Perfect trade setup, positively u should be in Profit
Yes Imran TP at the reg lag (blu already there) pinned at the bottom.
Greatest Success ***Dale***

Quote from babypips:

"Don't Lose Your Money" Declaration

Place your hand on your heart and say...
"I will demo trade for at least 2 months before I trade with real money."
Now touch your head with your index finger and say...
"I am a smart and patient Forex trader!"
Attached Image (click to enlarge)
Click to Enlarge Name: GYchart30Nov(c).jpg Size: 257 KB
  • #5,251
  • Nov 30, 2007 9:20am Nov 30, 2007 9:20am
Quoting Naijafx
Steve,

I have been using the big figure ema figure(100, 200) on a at least 4h time frame most especially on eur pairs and amaizingly works successful. no indicator except for fibo for take profit, price will normally bounce on the ema and it will go that direction a long time and sure of many pips but trades opportunities are seldom using this method but ever reliable simple method.

Thanks steve for your contribution but may i ask you on what time frame do you plot your ema?

Thanks bro
hi

seems like you my kind of trader at least you understand how to use emas,they are not magic but works great with S/R lines,anyways i am trading off 4H ,true, opportunity comes 2-3 times a month but those are netting 200-300 pips each.i wish just people would look it the market as supply and demand not pretty candles most people would be successful.but then again the educated trader typically gets paid from the traders who has no education!

ps:i scalp sometimes for quick pips
  • #5,252
  • Nov 30, 2007 9:35am Nov 30, 2007 9:35am
Quoting steven
hi

seems like you my kind of trader at least you understand how to use emas,they are not magic but works great with S/R lines,anyways i am trading off 4H ,true, opportunity comes 2-3 times a month but those are netting 200-300 pips each.i wish just people would look it the market as supply and demand not pretty candles most people would be successful.but then again the educated trader typically gets paid from the traders who has no education!

ps:i scalp sometimes for quick pips
Absolutely whole heartedly agree. I am looking to piece together a system for myself where I can take longer term trades and then when I have the time be able to play the swing or intraday trading like I love to do. Glad to have someone on the same page as me in this thread.
  • #5,253
  • Nov 30, 2007 9:47am Nov 30, 2007 9:47am
Quoting daledane
dbeach, would you have taken this CT trade or do you just wait for the Perfect BUY to come along to stay in the uptrend of the last 24 hours. Can you see when that trend is broken?

As I write this both lags are pinned at the bottom meaning time to TP

I let a nice +100 pip trade disapear earllier which I am still sore about so am being extra careful and settled for +35 on the second trade. I am probably done trading for today as I have other things to do. When I entered the 2nd trade I also looked at 1 hour chart and liked the possible reversal bar.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.JPG Size: 260 KB
  • #5,254
  • Nov 30, 2007 9:51am Nov 30, 2007 9:51am
try this on your 1 HR with lags and some moving avgs that work for you.

set linear Q to 13 8 8 3

u can add a BB on top of Lin Q to help define the OB/OS zone





Quoting freed14
Absolutely whole heartedly agree. I am looking to piece together a system for myself where I can take longer term trades and then when I have the time be able to play the swing or intraday trading like I love to do. Glad to have someone on the same page as me in this thread.
Attached Image
Attached File(s)
File Type: ex4 StochCandles.ex4   5 KB | 455 downloads
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 503 downloads
File Type: ex4 linearQ.ex4   3 KB | 505 downloads
  • #5,255
  • Nov 30, 2007 9:53am Nov 30, 2007 9:53am
Quoting fx_ninja
try this on your 1 HR with lags and some moving avgs that work for you.

set linear Q to 13 8 8 3

u cand a BB on top of Lin Q to help define the OB/OS zone

Thanks ninja I will check it out.
  • #5,256
  • Nov 30, 2007 10:00am Nov 30, 2007 10:00am
no need to be sore. entry was late and u cant control those types of quick sell offs.
U sitll managed to get profit and protect some of your gains. MM will help u win in the long run, so good job! rejoice in what u did do correctly.we all strive to do better; no need to chastise yourself.
no failure, just feedback...


take a look at the cons period prior to the breakout.

i will pull your chart and mark it when i can.



Quoting dbeach777
I let a nice +100 pip trade disapear earllier which I am still sore about so am being extra careful and settled for +35 on the second trade. I am probably done trading for today as I have other things to do. When I entered the 2nd trade I also looked at 1 hour chart and liked the possible reversal bar.
  • #5,257
  • Nov 30, 2007 10:00am Nov 30, 2007 10:00am
fx ninja, I agree with what you say about price action but in that case do you really need indicators at all? Why not just wait for the higher low or lower high and then enter the trade as soon as price takes off in your direction?
  • #5,258
  • Nov 30, 2007 10:23am Nov 30, 2007 10:23am
Quoting notouch
fx ninja, I agree with what you say about price action but in that case do you really need indicators at all? Why not just wait for the higher low or lower high and then enter the trade as soon as price takes off in your direction?

some people use this as well. Indicators are just confirmation and visual of Price action.
  • #5,259
  • Nov 30, 2007 10:26am Nov 30, 2007 10:26am
att
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.jpg Size: 184 KB
  • #5,260
  • Nov 30, 2007 10:34am Nov 30, 2007 10:34am
indicators give u alternate angles to examine price action.
Pirce action is not always 'so simple' to anticipate.

Most have a harder time trading from a naked chart.
Ultimately Price is King cuz u can never argue with the current price.

Early on we learn to react to the mkt. as we hone skills we learn to anticipate mkt activity based on a combination of things, including, but not limited to:

1. Price Action
A. Hidden Clues about Price action via
i. Indicators
ii. Chart patterns
iii. market psychology
iv. Key trading times
v. Fundamental factors
vi. correlating mkts
vii. Rhythm and Tempo
viii. etc...


Quoting notouch
fx ninja, I agree with what you say about price action but in that case do you really need indicators at all? Why not just wait for the higher low or lower high and then enter the trade as soon as price takes off in your direction?
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