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Indicators and Rules for Simple Method of Scalping GBP/Jpy on 5 min chart 18 replies

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EA - "Simple Method of Scalping on 5 min chart , especially GBP/JPY - by Imran Sait" 36 replies

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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

Quoting HaiMedan
Chandra, thanks for comments.
After went through a channel, look like it was a counter trade. I got +44 pips while the 35 points trailing stop was hit. Could be better if I took my TP close to the strongest resistant 200 EMA to anticipate any PB for the counter trade (as Imran & many senior members often mention in this thread). Now, I took Short at 211.65 (the next vertical red line). Is it a good entry due to following the trend??? So far has +18 pips, but.....anything can happend in this market.

hai.

hi HaiMedan,
how come your lag1 and lag2 setting are different then Imrans ?? just curious !! and what alert are you using for the arrows to be displayed that way ? i am using Lispa2 ...

thanks,
goodbadmas

edit : can you tell me what you are using for the pivots ? i see it give a lot of info ... which i am intrested in .. thanks again !
Why did this trade go wroung? BB too squezed? or support lines?
Attached Image (click to enlarge)
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Pls for the ASCTREND1SIG-IMRAN what are the right values for risk and countbars
thx
Quoting M-H Trader
Why did this trade go wroung? BB too squezed? or support lines?
Please read my earlier post (just four above; post # 6001).

Also, it is some type of cup & handle pattern (with a up bias). In addition, the price is forming higher Lows repeatedly (I can see about 5 higher lows). So, a simple TrendLine would be of great help. The down move has lost strength and may be an upmove or major correction may be there, unless the trendline is broken (along with the latest higher Lows), which would have been around 211.45 at that time.

The arrows are drawn at a time none of Lag had given signal. The signals came only at the next bar and the price never went below the low/close of that signal bar (as I see in the posted chart).

chandra
Quoting goodness
Pls for the ASCTREND1SIG-IMRAN what are the right values for risk and countbars
thx
Just the defaults are good. countbars is used to check on that many old bars (for visual backtesting) and has no effect on calculation.

chandra
Quoting goodbadmas
...
can you tell me what you are using for the pivots ? i see it give a lot of info ... which i am intrested in .. thanks again !
The following can be used to identity S/R levels, which can be avoided during entry, used for SL and TP.

1. Prior price levels (Highs = R, Lows = S; called swing highs and swing lows).
2. Important MAs (including those from higher TF, even daily).
3. TrendLines.
4. Pivot levels (including Weekly).
5. Fibonacci levels.

chandra
Quoting achandrasekaran99
Please read my earlier post (just four above; post # 6001).

Also, it is some type of cup & handle pattern (with a up bias). In addition, the price is forming higher Lows repeatedly (I can see about 5 higher lows). So, a simple TrendLine would be of great help. The down move has lost strength and may be an upmove or major correction may be there, unless the trendline is broken (along with the latest higher Lows), which would have been around 211.45 at that time.

The arrows are drawn at a time none of Lag had given signal. The signals came only at the next bar and the price never went below the low/close of that signal bar (as I see in the posted chart).

chandra
Both lag did break the .85 zone, but i should of been aware more of trend.
Ok, I've asked before...but did anyone send Imran the $500 for a managed account? I'm assuming no one actually did since I haven't heard anything about it. But if someone actually DID, I'd love to hear how it's going!
Quoting BHReach
That depends on how you use it!

There is more than one way to trade with it.

1. If you want it to signal entries faster you can adjust the settings.

2. Instead of trading zero line crosses, trade changes in direction, this is a very fast entry technique.

3. Add a very short term MA of the histogram and trade crosses of that.

4. You can do technical analysis on any indicator. Draw trend lines, look for DT/DB, head and shoulders, etc.

Bill
Bill hi.
Just wanted to thank you for your recent post and for the past few. They have been most benificial to my trading skills. You have pointed out things, sometimes so simple, that I probably would have passed right over.

regards, D.
where thought goes energy flows
Quoting syrian-merit
Hi all
can i ask when is exactly the news time which affects the trade.
am not sure coz i live cyprus...
many thanx in advance...
Hi Syrian,
At address http://www.forexfactory.com/?page=calendar, you could watch for most important news regarding any trading. Good luck !
Quoting achandrasekaran99
Just the defaults are good. countbars is used to check on that many old bars (for visual backtesting) and has no effect on calculation.

chandra
Hi everybody,
This Pipimintpattie(Brandon) here and I am close to two weeks new to this thread and a few weeks old to "Imran's Indicators".
I am currently on page twenty-five of this thread. I decided, since I recieve instant e-mail notification for this thread, to skip ahead to the most current page of posts.
I feel like I'm entering a class, you all started in first grade, now in your senior year, and I'm coloring inside the lines in kindergarden. Lots of laughs, please.
I just want to thank everybody because I am starting to get the picuture, and the true teachers of this thread, I own more than I can ever reveal. Imran, FxNinja, Chandra and many more, I believe, are rich in love as they are rich in currency. I thank you all from the deepest depths of my heart of hearts. God Bless you all !

P.S. "I smoked my quote"

-Brandon
Intelligence Grows Where Feedback Flows
Quoting HaiMedan
Dids, correct me if I'm wrong.
0.45 is the mid level for Laguerre indicator (0.15, 0.45 & 0.85)
0.65 is gamma setting for lag 1.
Don't mix them......

hai
Hai,

I didn't make myself clear enough.

It is not about studies settings but really indicator value.
To go long we need to wait for both lags to be bigger than 0.45.
I would have expected that to go short we need to wait for both lag to be smaller than 0.65.

If not conditions to enter long and short are not exaclty the same and we have a bias to the short side.

Thanks,
Dids
  •  kosh
  • | Joined Jan 2008 | Status: i love my pippy bank growing | 42 Posts
Any idea market for gbp/jpy will cont to go down after new???
  •  kosh
  • | Joined Jan 2008 | Status: i love my pippy bank growing | 42 Posts
Hi Dids,

Excellent homework that you have done and share with everyone.Thank you.

Just some questions,how long did you get to gain 50% ROI in your paper trading from the pdf file.Using only this method trading only gbp/jpy?

Kosh
Quoting kosh
Hi Dids,

Excellent homework that you have done and share with everyone.Thank you.

Just some questions,how long did you get to gain 50% ROI in your paper trading from the pdf file.Using only this method trading only gbp/jpy?

Kosh
Kosh and all,

You are welcome. More than happy to help when I can.

The last chart is very nice but unfortunately it is not mine!
As I said the document simply contains posts extracted from the forum. If I remember well it was Imran's performance...who else!?!?

Dids
A good trade today on prior London market opening...nice 59 pips closing in 3 hours(athough the real action kicked in during the final 25 min...)
thanks Imran for this system...
Attached Image
Quoting M-H Trader
Why did this trade go wroung? BB too squezed? or support lines?
M-H TRADER,

As far i can see in detail on your chart, you could buy around 14.10 hour.
lag 1 went up followed by lag2, also ma60 went up to ma200 and you could stay in because lag 2 did stay on top and ma60 was still closer to 200

but, of course if you see the chart before you, when all is done its easy to judge. its always the left unvisible part of the chart whats unknown.

its always a learning fact

enjoy and have many pips in profit

crossover
Quoting achandrasekaran99
Hi Hai,

I think this is a conflicting situation with no clear direction. The major move and 200-EMA are pointing down. While the recent move and 60-EMA are pointing up. The price is between 60,200-EMAs while the EMAs are closing in each other. At best it can be considered as sideways action. Some scalping may be done using quick oscillators (including Lag1). For me, that is a time to wait.

Regards,
chandra
Hai Chandra,
Thanks again for your inputs.
After watching the price action this afternoon, I think you're right that I must wait for few times before doing an entry. Although my entry give me +90 pips while London open, but I think the best entry must be done at 22.20 GMT (1st vertical red Line), where the Red Lag has in OS position for few long time. After that, look like the price is really moves below 60 EMA following the trend during Tokyo session.

Just Now, I took a Long entry at the second Red vertical Line with SL 50 pips & TS 35 pips. Simple consideration for this entry is Red Lag has been staying for quite long time in OS area and has tried to climb for 2 times. The 3rd climb could be success due to bounce at S1 level after falling while London open. Expecting profit close to 200 EMA and beware of the next news.

Inputs please.............

hai
Attached Image (click to enlarge)
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new trade taken... gj, buy at 211.29, sl 210.99, tp 211.39.. hope the best.. comments please...


RESULT - LOSS
Attached Image
Quoting gunset
new trade taken... gj, buy at 211.29, sl 210.99, tp 211.39.. hope the best.. comments please...
1st your macd shd be 12 26 9
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