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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies
RE-Imran Sait Method 6 replies
EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait" 36 replies
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How to make my own "Imran Sait" Indicators? What do they mean? 4 replies
DislikedDear Imran Sait
Congratulation on writig the 5min strategy. I am using FXCM TRADING Station. In FXCM we donot have LaGuerre 1&2 indicators. Kindly advise alternatively which indicator we can usetoreplace LaGuerre indicator
Thanks
TASEEN kHAN
[email protected]Ignored
DislikedHello everyone,
I've been reading this thread off/on for several days and since I've already been using Lag filters on another very similar system, I decided to give this system a try. However, I decided to use the M15 timeframe and set a demo trade on the first signal I got in the Asian session last nite going LONG. I set a 30 pip SL and a 40 pip TS and let it run while I slept. I woke up this morning with +22 pips, which means the move actually went about 70 pips to the good before the retrace that hit my TS. If I had been awake, I would probably have closed out for about 50. There were no other good signals on M15 last night.
However, I did some closer analysis this morning and I discovered that I would have had a much better situation on M5. The entry I took from M15 never materialized on M5, but the SHORT move that followed it would have netted around 100 pips. That move was soon followed by a LONG signal, also for around 90-100 pips.
M1 is just too fast for my broker spread and personal tastes...M15 is just too slow. Ahhh....but M5 looks juuuuust right.
Here's the two setups for M5...
http://creations4christ.com/forex/gj_100pips_x2.gif
Here's the same entries in M15 with my actual trade entry taken earlier.
http://www.creations4christ.com/forex/gj_m15_22pips.gif
And missed this 50pip setup this morning just after news at 10am.
http://www.creations4christ.com/fore...ps_aftnews.gifIgnored
DislikedThis system works great after you get to learn it. My suggestion for anybody new is to first trade this system on less volatile pair like the EUR/USD before moving to the Yen pairs. You can get about 50 to 100 pips a day just trading the EUR/USD. When your ready for the Yen pairs this system on average can yeild me about 100 to as much as 300 pips a day. Remember also that asian session can be very low in volume. So if you can trade london you will profit more. Also US session can be very wild somedays so if you new please be careful. I have been trading this system since it's inception and it's very profitable. But take your time and and ask questions and trade a less volatile pair to start. I would suggest the EUR/USD.
Hope this helps and many pips to you all!
ChrisIgnored
DislikedThis system works great after you get to learn it. My suggestion for anybody new is to first trade this system on less volatile pair like the EUR/USD before moving to the Yen pairs. You can get about 50 to 100 pips a day just trading the EUR/USD. When your ready for the Yen pairs this system on average can yeild me about 100 to as much as 300 pips a day. Remember also that asian session can be very low in volume. So if you can trade london you will profit more. Also US session can be very wild somedays so if you new please be careful. I have been trading this system since it's inception and it's very profitable. But take your time and and ask questions and trade a less volatile pair to start. I would suggest the EUR/USD.
Hope this helps and many pips to you all!
ChrisIgnored
DislikedI am trying to load the Laguerre-acs1 indicator (posted by Imransait) for the first time on metatrader 4 but it crashes with a critical error. The gamma is set to 0.6 can somone please tell me how to get it working.
ThxIgnored
DislikedI like the look of that template with the dual stochastics timeframes....would you care to post it or explain how to set that?Ignored
Dislikedalso depending on how u count the price wave pattern, signal came during B or D period.
both can turn out to be counter trend price waves.
the arrow from my understanding is to be used for confirmation. seems like the lag signal actually developed a few bars earlier.Ignored
DislikedI see many are starting to overload their charts with too many indicators. It's nice to get further confirmation, but if there are too many, you will be overloaded with too indicators that you will never know when to trade. Remember, this is a 5MIN scalping system not a long term position system.
One thing that I have observed with any lagging indicators is that they do not always work consistently. One day, you may see it give you a good early entry and then other times it may not, and even for higher timeframes - sometimes 15M may keep you longer in a winning position than a 30M and vice versa . There is nothing saying that price must obey the rules of an indicator, eg., stochastics can bounce in between the overbought/oversold levels for awhile, or how about when RSI stays above 80 for a long time and price kept going up, but you have already exited once it hit the 80 level.
Keep it simple. Do not make it harder than it is.....Ignored
DislikedI see many are starting to overload their charts with too many indicators. It's nice to get further confirmation, but if there are too many, you will be overloaded with too indicators that you will never know when to trade. Remember, this is a 5MIN scalping system not a long term position system.
One thing that I have observed with any lagging indicators is that they do not always work consistently. One day, you may see it give you a good early entry and then other times it may not, and even for higher timeframes - sometimes 15M may keep you longer in a winning position than a 30M and vice versa . There is nothing saying that price must obey the rules of an indicator, eg., stochastics can bounce in between the overbought/oversold levels for awhile, or how about when RSI stays above 80 for a long time and price kept going up, but you have already exited once it hit the 80 level.
Keep it simple. Do not make it harder than it is.....Ignored
DislikedHi imran, You gave away my secret on the 1min charts...lol..just kidding ya bro...I have been trading the 1m with the 60/200 ema with the red laq and have been tearing up the pips. I have been trading the E/J and U/C with it and follow the financials at the sametime...i've had two huge weeks trading this way. 300 to 500 pips a day trading 10 hrs a day. I know we all want to make things 100 percent to system is but if you learn price action and keep things simple you will astounded with your pips. Also follow the volatility of the other markets and you will know if the trading day is going to choppy or trending. Just my two cents!
Cheers,
ChrisIgnored
DislikedI guess it is MTF Stoch .... .
Anyone with MTF Laguerre. Im sure it will very useful if incorporated with this system.... just looking at one time frame u know what is the movement of laguerre on other time frames and u will enter at optimum entry.
May be Mr Chandra can create one for this system.....it will be awesomeIgnored