Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 286 | 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

  • #5,701
  • Dec 22, 2007 8:52am Dec 22, 2007 8:52am
Quoting Gnat
Is that the version from finnfx or is it from somewhere else?
Don't remember where I got it but i think it's his
  • #5,702
  • Dec 22, 2007 9:56am Dec 22, 2007 9:56am
Quoting orion70
Don't remember where I got it but i think it's his
OK thanks! Wish you and all a great holiday!!
  • #5,703
  • Dec 22, 2007 8:18pm Dec 22, 2007 8:18pm
Hi im new to this strat but very intrusted to try it but ...

Im trying to adjust my laguerre on meta trader 4 to fixed min and fixed max under the common tab to 1.05 and 0.05 and it just goes blank and everything disapears except the indacator box. Also I try and layer the gamma .6 blue on to the gamma .8 red and it also goes blank. Any insite on this?
  • #5,704
  • Dec 22, 2007 11:15pm Dec 22, 2007 11:15pm
Quoting fx_ninja
personally, i usually wont short near the botm Bol band or buy near the top BB.
look at the prior long setup. nice dbl botm area. price near the botm BB.
classic setup

when the mkt crosses the DP, another option is to simply wait for the retrace and watch the behavior (Classic ABCD). during the retrace period, you will see that altho the blue lag was pointing up, the red lag was still pointing down. this is usually a lag setup that indicates a retrace as opposed to a REVERSAL.
you then see the mkt test the DP and blu lag turns back down.
basically where you entered is in a B to C retracement area. i.e. you got caught in the retracement wae to have it stop u out only to turn around for what could have been a profcitable trade.
best places to enter C to D or A to B.

the wait for the retrace is usually a more conservative entry. if u look at the prior long setup, the blu lag barely crosses .15; mkt poips up the retests the prior low area to form that short term dbl botm.
will it always retest? no. will all retests turn into a good setup for a profitable trade? no.
However, IMO, those setups have less risk because if the tested area is breached, you have a good idea that the trade will not work out.
THAT WAY, u can keep your SL tite, because you will have a good entry.
Excellant analyisis! One can always expect a straight forward explaination with clear and practical approach as to why and when to pull the trigger and make the trade.
Thanks much for your continued support and guidance on this thread.
CE
I get exercise just pushing my luck
  • #5,705
  • Dec 23, 2007 6:55am Dec 23, 2007 6:55am
Thank you FX Ninja for such excellent analysis. You must be a long time professional trader and perhaps a forex mentor. I am a newbie and I hope you don't mind if I am eager to learn more from you. I am trying to understand your ABCD concept.

When will ABCD happen? Do you suggest that we wait for ABCD everytime a barrier (not only DP) is crossed? And you mentioned that the best place to enter is A to B or C to D. What are the entry signals? Because I noticed that at point A both lags are still on top and has not come down while MACD and Stoch was pos. Whereas shortly after point C blue lag strated to come down while red lag was already half way down.

Also, I still do not understand your point on retrace before the long setup.
Could you please clarify? A few more charts would be nice. I am sure many newbies in this thread could learn a great deal from you and be very grateful.
Thank you - Daniel
Attached Image
  • #5,706
  • Dec 23, 2007 6:57am Dec 23, 2007 6:57am
Missed 100 pips move on usd/jpy today. Did anyone take the trade? On the first line both lags went up from the bottom, macd positive, price broke through middle bolllinger - but too close to the emas, so i waited. Second line when price broke through emas, blue lag was already on top, while red lag was half way up - so i didn't take the trade coz i thought the blue lag would soon come back down and red lag would follow. But apparently I was wrong and missed out. My question is, where was the right entry? And on what grounds? And could anyone explain why prices didn't go down a few moments later when blue lag went down while red lag was still on top?
Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1198258075
  • #5,707
  • Dec 23, 2007 7:34am Dec 23, 2007 7:34am
the 0.05 should actually be -0.05


Quoting osirisisis
Hi im new to this strat but very intrusted to try it but ...

Im trying to adjust my laguerre on meta trader 4 to fixed min and fixed max under the common tab to 1.05 and 0.05 and it just goes blank and everything disapears except the indacator box. Also I try and layer the gamma .6 blue on to the gamma .8 red and it also goes blank. Any insite on this?
  • #5,708
  • Dec 23, 2007 1:28pm Dec 23, 2007 1:28pm
Can someone fill me on this indicator

Laguerre.... what is it??

THX, Chester
  • #5,709
  • Dec 23, 2007 1:56pm Dec 23, 2007 1:56pm
Quoting ChesterB
Can someone fill me on this indicator

Laguerre.... what is it??

THX, Chester
Page 1 complete details there
  • #5,710
  • Edited 4:27pm Dec 23, 2007 4:22pm | Edited 4:27pm
dk007
Hi. yes it was a nice trade. Here is my thoughts on it. Although only new to this strategy I am getting my head around it slowly...It helps to put words down be it pen or keyboard.

The Lag blue and red were in a textbook setup to take a Long position.

The price was below the daily pivot which normally suggests to take short trades but the following reasons suggested otherwise.

The price was being suppotted by the 113.00 barrier.

Boll bands began to flatten.

MA's were reasonably flat meaning prices could easily pass through.

When the Blue Lag passed up through 0.15 we also had confirmation with STOC and QQE (I use this instead of MACD. Both similar).

Stay with the trade scaling out at resistance levels or price barriers '50 's of '00 's. Its your choice in this matter. We just don't know where the price will stop.

Hold a core position and exit when Red Lag crosses down through 0.85.

Having said all that hindsight is nice. I hope I would have handled this trade as mentioned. I personally get spooked a lot and like to lock in profits, especially then the faster blue Lag heads down. Remember slow red Lag will keep you in a strong tend.

Always move your stop as the price moves up (trailing).

If anyone cares to cretique me please feel free.

Hope this helps anyhow.

regards, D


[quote=dk2007;1771219]
Missed 100 pips move on usd/jpy today. Did anyone take the trade? On the first line both lags went up from the bottom, macd positive, price broke through middle bolllinger - but too close to the emas, so i waited. Second line when price broke through emas, blue lag was already on top, while red lag was half way up - so i didn't take the trade coz i thought the blue lag would soon come back down and red lag would follow. But apparently I was wrong and missed out. My question is, where was the right entry? And on what grounds? And could anyone explain why prices didn't go down a few moments later when blue lag went down while red lag was still on top?
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where thought goes energy flows
  • #5,711
  • Dec 23, 2007 4:39pm Dec 23, 2007 4:39pm
[quote=Damo12;1771425]dk007
Hi. yes it was a nice trade. Here is my thoughts on it. Although only new to this strategy I am getting my head around it slowly...It helps to put words down be it pen or keyboard.

The Lag blue and red were in a textbook setup to take a Long position.

The price was below the daily pivot which normally suggests to take short trades but the following reasons suggested otherwise.

The price was being suppotted by the 113.00 barrier.

Boll bands began to flatten.

MA's were reasonably flat meaning prices could easily pass through.

When the Blue Lag passed up through 0.15 we also had confirmation with STOC and QQE (I use this instead of MACD. Both similar).

Stay with the trade scaling out at resistance levels or price barriers '50 's of '00 's. Its your choice in this matter. We just don't know where the price will stop.

Hold a core position and exit when Red Lag crosses down through 0.85.

Having said all that hindsight is nice. I hope I would have handled this trade as mentioned. I personally get spooked a lot and like to lock in profits, especially then the faster blue Lag heads down. Remember slow red Lag will keep you in a strong tend.

Always move your stop as the price moves up (trailing).

If anyone cares to cretique me please feel free.

Hope this helps anyhow.

regards, D


Quoting dk2007
Missed 100 pips move on usd/jpy today. Did anyone take the trade? On the first line both lags went up from the bottom, macd positive, price broke through middle bolllinger - but too close to the emas, so i waited. Second line when price broke through emas, blue lag was already on top, while red lag was half way up - so i didn't take the trade coz i thought the blue lag would soon come back down and red lag would follow. But apparently I was wrong and missed out. My question is, where was the right entry? And on what grounds? And could anyone explain why prices didn't go down a few moments later when blue lag went down while red lag was still on top?

I saw this on friday, the reason i would not enter, is that EMA were close together, at that time, i couldn't tell what would happen. One of the rules for this system, is not to trade when EMA are close! Am I wrong?
  • #5,712
  • Dec 23, 2007 5:51pm Dec 23, 2007 5:51pm
Hello Imran
i want to thank you for this great thread.
i have just check it, and i want to ask you if the template that you have post in the first updated according to your PDF, that i have find some different values between the PFD and your template..

Thak you for your time..
  • #5,713
  • Dec 23, 2007 7:05pm Dec 23, 2007 7:05pm
also watch for 60/200 ema crosses / vice versa.
after the cross, mkt passed several tests of support.

when mkt is making small range sideways bars = consolidation. eventually the mkt will BO.

everyone needs lots of screen time and analysis of price action and patterns during key trading times.
after that, indicators will make more sense.



[quote=c0d3;1771443]
Quoting Damo12
dk007
Hi. yes it was a nice trade. Here is my thoughts on it. Although only new to this strategy I am getting my head around it slowly...It helps to put words down be it pen or keyboard.

The Lag blue and red were in a textbook setup to take a Long position.

The price was below the daily pivot which normally suggests to take short trades but the following reasons suggested otherwise.

The price was being suppotted by the 113.00 barrier.

Boll bands began to flatten.

MA's were reasonably flat meaning prices could easily pass through.

When the Blue Lag passed up through 0.15 we also had confirmation with STOC and QQE (I use this instead of MACD. Both similar).

Stay with the trade scaling out at resistance levels or price barriers '50 's of '00 's. Its your choice in this matter. We just don't know where the price will stop.

Hold a core position and exit when Red Lag crosses down through 0.85.

Having said all that hindsight is nice. I hope I would have handled this trade as mentioned. I personally get spooked a lot and like to lock in profits, especially then the faster blue Lag heads down. Remember slow red Lag will keep you in a strong tend.

Always move your stop as the price moves up (trailing).

If anyone cares to cretique me please feel free.

Hope this helps anyhow.

regards, D





I saw this on friday, the reason i would not enter, is that EMA were close together, at that time, i couldn't tell what would happen. One of the rules for this system, is not to trade when EMA are close! Am I wrong?
  • #5,714
  • Dec 25, 2007 2:16am Dec 25, 2007 2:16am
Does anybody know if EFX group (www.efxgroup.com) is the same broker as Northfinance (www.northfinance.com)? I am just a bit confused to read that Imran use MBT/EFX Northfinance -coz when I did a search they come out as two different brokers. So which one has the lower spread?
Thx - Daniel
  • #5,715
  • Dec 25, 2007 12:28pm Dec 25, 2007 12:28pm
Quoting dk2007
Does anybody know if EFX group (www.efxgroup.com) is the same broker as Northfinance (www.northfinance.com)? I am just a bit confused to read that Imran use MBT/EFX Northfinance -coz when I did a search they come out as two different brokers. So which one has the lower spread?
Thx - Daniel
===================================
Daniel, Imran uses Northfinance's charts to whatch prices, but he enters his orders through MBT/EFX.Merry Christmas! Imran, God bless you and yours!-- scardi
  • #5,716
  • Dec 25, 2007 12:34pm Dec 25, 2007 12:34pm
Fellow Traders,

I just wanted to say thank you to Imran Sait and all of you for contributing to this thread and sharing all your experience with all of us. Although I am new to your method I followed the thread now for a while and took my first trade 2 days ago. Just one quick trade and I made 11 PIPS.

I want to start being more serious about trading this way now and just have a few quick questions. Maybe someone is in a similar situation and could share his / her experience.

Right now I am with a non MT4 broker and have a fixed spread of 8 PIP on the GBPJPY. I use a demo account with Alpari for my charting.

Do you think it is reasonable to use the demo account on MT4 to get your indicators and stay with my current broker? Or would it be better to open a separate account?

Giving the spread of 8 PIPS which time frames would you trade?

Are there certain trading sessions you would stay out of given my current setup?

Thanks in advance,

Successdoc
  • #5,717
  • Dec 25, 2007 1:42pm Dec 25, 2007 1:42pm
Successdoc, just do what I do and its very helpful, go to page 1 and PRINT out the set up and rules, read them over and over anytime anywhere and thing get clearer and clearer and will soon become second nature on the basics of this strategy, as for the spread, my broker also has a 8 pip on gbp/jpy and I was afraid to trade, but like Imran has stated in many times if you enter the trade correctly that spread gets covered in no time because of the volatility.
  • #5,718
  • Dec 25, 2007 1:51pm Dec 25, 2007 1:51pm
I actually have the printout right in front of me. I covered a lot of the different threads and I think I slowly start to see the setups for a trade. The way I trade and the time I have on hand it seems the 1m and 5m would work best for me. On the other hand I am not sure if working with 1m will cover my spread. It did on my first live trade, so I probably should just perfect my setup spotting.

Really appreciate your feedback and successful trading to all of you!!!!!!


Quoting me4x
Successdoc, just do what I do and its very helpful, go to page 1 and PRINT out the set up and rules, read them over and over anytime anywhere and thing get clearer and clearer and will soon become second nature on the basics of this strategy, as for the spread, my broker also has a 8 pip on gbp/jpy and I was afraid to trade, but like Imran has stated in many times if you enter the trade correctly that spread gets covered in no time because of the volatility.
  • #5,719
  • Dec 25, 2007 3:23pm Dec 25, 2007 3:23pm
hi guys

a second video showing how to spot trend reversal and to spot a downtrend

Inserted Video


shortly will add more videos showing how each indicator adds value to this method

imran
  • #5,720
  • Dec 25, 2007 3:39pm Dec 25, 2007 3:39pm
Quoting imransait
hi guys

a second video showing how to spot trend reversal and to spot a downtrend

http://www.youtube.com/watch?v=cBrOMU8DpVQ

shortly will add more videos showing how each indicator adds value to this method

imran
Very good video!!
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