Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 333 | 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

  • #6,641
  • Feb 29, 2008 10:49am Feb 29, 2008 10:49am
Quoting frito
Hi guys need your analysis,
according to the rulez the blue lag is clear but what baut the red sucker?
thx
While it appears that this could be a good trade (apparent downtrend, EMA's covering price creating downward pressure, Blue lag/Stoch Histo is agreement..... a larger picture of the charts price action (..or even the pair being traded..) would help in providing a better answer.
  • #6,642
  • Mar 1, 2008 12:03am Mar 1, 2008 12:03am
I've found this interesting but haven't had much luck trading it on the USDCAD. I think the spread is eating all my profits.
  • #6,643
  • Mar 1, 2008 9:02am Mar 1, 2008 9:02am
Quoting frito
Hi guys need your analysis,
according to the rulez the blue lag is clear but what baut the red sucker?
thx
Quoting Waka
The 80 Lag shows longer trend patterns. Your picture does not show enough to give a good answer to your question.
What pair, time, day?
Regards,
JC
Yo Waka &all,
GJ, 28.2.2008, 5M

thx
Attached Image (click to enlarge)
Click to Enlarge Name: imran_2_1.PNG Size: 49 KB
  • #6,644
  • Mar 1, 2008 11:56am Mar 1, 2008 11:56am
Quoting frito
Yo Waka &all,
GJ, 28.2.2008, 5M

thx
Hello Frito.....
I thought twice about leaving this but in the spirit of 'each one teach one' as I've been taught through this forum and others... if it helps please use and if not then discard.

As per your chart GBP/JPY you can see that market is ranging, thus making for unclear Buy/Sell Signals.

In my own trading, what i've found to be successful is the following. Blue Lag is a leading Indicator showing shorter term trends then that of the Red Lag Being that Red LaGuerre is a Lagging Indicator showing longer term trend. Blue Lag will tend to cross followed by StochHisto.... if reg lag is Under or Over a mid-point of 50 (depending on the trend), then I consider the Red Lag as meeting the conditions of being overbought/oversold and will enter the trade.

An Example of this is shown on Feb 28th at 16:50. Blue Lag has crossed, followed by Stoch..... Red Lag already under midpoint and so a postion was entered. Exit the position as per regular.
http://forexfactory.com/attachment.p...0&d=1204383489

As this is not as per the true Method PLEASE BACKTEST this in your own demo account.....

Regards
  • #6,645
  • Edited 8:16am Mar 2, 2008 8:08am | Edited 8:16am
Quoting frito
Yo Waka &all,
GJ, 28.2.2008, 5M

thx

Hi Frito

If you look solely at the 80 lag, taking nothing else into consideration, you will notice that it is trending down from the beginning of your chart. I believe when Imran said short only when 80 lag maxed or trending down, he did not mean the immediate 80 lag trend over only a few bars. But, that's my opinion, I cannot speak for him.

At the point of the 60 lag trigger, you will notice that the 80 lag made a new lower high, lower than the previous lower high, hence the down-trending 80 lag.

That's how I read it. But irrespective of how anyone reads it, the fact is that you must view the 80 lag over the longer term trend, not the last few bars.

Regards,

JC

PS. My view is this short trade was in accordance with v1.2 rules if price was below daily pivot.

An easy way to view 80 lag trend is zoom out of 5m chart as much as possible, you will see the trending pattern, hopefully :-)
  • #6,646
  • Mar 2, 2008 9:03am Mar 2, 2008 9:03am
Hi All,

I Am New Here In This Thread And It's Too Much To Read 444 Pages, I Am Sorry. I Am Kind Of Lazy Guy.

Anybody Using This Systems On Daily Charts? If So Would You Mind Please Explain A Little About Settings And Results. I Highly Appreciated.

Thanks In Advance For Help.

Nagen
  • #6,647
  • Mar 2, 2008 3:39pm Mar 2, 2008 3:39pm
Hi,

I was taking a look at Imran's crossover video, and I'm confused! Can anyone tell me simply the rules for when to trade on a crossover and when not to/or when to trade the opposite direction?

Things about the video that confused me included:

  1. The second and third examples appear to have the same conditions, but one fails and the other ones is succesful: The false break, where the 60EMA crosses down below the 200EMA, the lags are at the bottom and the MACD line is bottoming out (I.e. turning up). However the same conditions appear to be present for the last example of a short that was good; lags down, MACD lines bottoming out (albeit not as low as the previous example). Can someone clarify this for me?
  2. Also, I'm not clear on the exit strategy. On the first (long example) he got out of the trade when the MACD lines crossed down through the zero line – which is clear. However, on the second good example, the short, it breaks the MACD zero line several times. He says they are only small breaks, so you'd still be in the trade, but if you applied the same principles to the first example where he went long, you'd have lost nearly all your profit waiting to see if it was just a small MACD break through. Or is it just the case that, with a suitable trailing stop loss on the first example you'd have taken your profits, but with the second short, a suitably distanced stop loss wouldn't have stopped you out and your profits would be better because you let it run down with the trend?
  3. Which time frames are most appropriate for the 60/200 EMA cross trades? Do they work on all time frames, or just some?
  4. Are we concerned about resistance lines being too close, or any other of our 'normal – don't trade now' criteria when playing the 60/200EMA cross?

PS - It's my first post, and it's been said a thousand times, but Imran - you're an incredibly generous person and your system is fantastic

  • #6,648
  • Mar 2, 2008 5:08pm Mar 2, 2008 5:08pm
hey guys, i´m new to forexfactory and trading forex for 1 year still looking for good systems. in the past i traded the trends with success but now i want to try skalping... Imran System looks a bit confusing for me perhaps someone can explain me in a few words. i hav e installed all indicators like in the pdf and i want to trade gbpjpy with 5M TF. Have I to change some settings? Doing a backtest i can´t see 80 oder 90 % of the trades profitabel. Who has experience?
  • #6,649
  • Mar 2, 2008 9:31pm Mar 2, 2008 9:31pm
Hi
I am very new to fx and learning the basics,been trading 3 weeks live
Thanks a lot Imran Sait this is very nice system even for very begginer like my self i did 3 live trades no demo with 2 profitable and 1 loss due to wrong indicator set up and time it was just after 5pm et i think it is not very good time to trade just after US close

please anybody help me with indicators,i have few questions
in mt4 ddl yes or no allow external inputs?
inputs : gama 0.6 bars9500 ( ma 2- is that fine)
gama 0.80 bars9500 ( ma2-?-it appears on the inputs at the bottom)
how to set up ema200 and ema 60 is it macd?
fast ema?
slow ema?
macd sma?
apply to ?
thanks a lot
just remember happiness is a way to travel -not a destination
happy FX journay
God himself favors the brave -ovid Fortune and love favour the brave-ovid
  • #6,650
  • Mar 2, 2008 10:08pm Mar 2, 2008 10:08pm
I made the EA for this strategy,
long only, GBP/JPY 5 min tf.

Entry:
For Long : What you need to do is first look if price is above the Daily Pivot, and then look if the the LaGuerre 1 (
henceforth called as Lag1 ) is above 0.15 and going upwards , StochHistogram ( Henceforth called as Stoch) is gone from
negative to positive , MACD has made a crossover to positive ( Crossover above Zero Line ) and LaGuerre 2 ( Henceforth
called as Lag2) is at the bottom ( for Extended Period of time ) or trending upwards above 0.15 .

Exit (either one):
1. When Lag-2 crossed 1.00 and then starts to come down below 0.85
2. When you get +50 pips
3. Daily R1 – ( First Resistance above Daily Pivot )
4. Daily R2 – ( Second Resistance above Daily Pivot)
5. MACD crossover from Positive to Negative and Red lag is turning down
6. When Stoch Histogram goes from Positive to Negative, and Red Lag is pointing Down ( both conditions have to be
met , if not take 50% profit and let the trade run )
7. When the Stop Loss is hit ( 20 pips + Spread ) – This is likely to happen only if you have not taken the trade as per
rules or taken a trade 30 mins before or within 30 mins of news

*6) I close position completely.

The are many stop losses as well.

Please see the attach for the trades.
Attached File(s)
File Type: zip test.zip   4 KB | 575 downloads
  • #6,651
  • Edited 12:06am Mar 3, 2008 12:05am | Edited 12:06am
Quoting MrT
Hi,

I was taking a look at Imran's crossover video, and I'm confused! Can anyone tell me simply the rules for when to trade on a crossover and when not to/or when to trade the opposite direction?

Things about the video that confused me included:

  1. The second and third examples appear to have the same conditions, but one fails and the other ones is succesful: The false break, where the 60EMA crosses down below the 200EMA, the lags are at the bottom and the MACD line is bottoming out (I.e. turning up). However the same conditions appear to be present for the last example of a short that was good; lags down, MACD lines bottoming out (albeit not as low as the previous example). Can someone clarify this for me?
  2. Also, I'm not clear on the exit strategy. On the first (long example) he got out of the trade when the MACD lines crossed down through the zero line – which is clear. However, on the second good example, the short, it breaks the MACD zero line several times. He says they are only small breaks, so you'd still be in the trade, but if you applied the same principles to the first example where he went long, you'd have lost nearly all your profit waiting to see if it was just a small MACD break through. Or is it just the case that, with a suitable trailing stop loss on the first example you'd have taken your profits, but with the second short, a suitably distanced stop loss wouldn't have stopped you out and your profits would be better because you let it run down with the trend?
  3. Which time frames are most appropriate for the 60/200 EMA cross trades? Do they work on all time frames, or just some?
  4. Are we concerned about resistance lines being too close, or any other of our 'normal – don't trade now' criteria when playing the 60/200EMA cross?

PS - It's my first post, and it's been said a thousand times, but Imran - you're an incredibly generous person and your system is fantastic


In my opinion Imran Sait is unknowingly committing a fallacy in all his analysis. He is doing his analysis while viewing what has already happened. He justifies moves with technical rational for price action he sees already happened. He is unknowingly cheating. Look carefully at the example trades in his PDF document about the system. You can see circled signal 80 lag is flat, but signal requires up direction in one trade. And look at video mentioned. Same MACD and LAGG position but one is failed break and other isn't. He is committing common fallacy looking at already complete action.
  • #6,652
  • Mar 3, 2008 1:18am Mar 3, 2008 1:18am
can i take a long only if price is over daily pivot? in imraim pdf there are buy signals also under the daily pivot.... i´m confused....
  • #6,653
  • Mar 3, 2008 4:01am Mar 3, 2008 4:01am
It is difficult to automate this particular system. It's not a science, but an art. When you have a good feel of the market, you can make semi-intuitive decisions, i.e. open trades when not all indicators are aligned 100%. At the same time, there are circumstances when you would stay out of trades even if when all the indicators are "on".

I did a backtest by playing back the market bar by bar, placing trades as per my judgment (based on the system) and the results were encouraging - with healthy risk you can achieve 150-200 pips per day.

Just my USD0.02

Quoting mike894
I made the EA for this strategy,
long only, GBP/JPY 5 min tf.

Entry:
For Long : What you need to do is first look if price is above the Daily Pivot, and then look if the the LaGuerre 1 (
henceforth called as Lag1 ) is above 0.15 and going upwards , StochHistogram ( Henceforth called as Stoch) is gone from
negative to positive , MACD has made a crossover to positive ( Crossover above Zero Line ) and LaGuerre 2 ( Henceforth
called as Lag2) is at the bottom ( for Extended Period of time ) or trending upwards above 0.15 .

Exit (either one):
1. When Lag-2 crossed 1.00 and then starts to come down below 0.85
2. When you get +50 pips
3. Daily R1 – ( First Resistance above Daily Pivot )
4. Daily R2 – ( Second Resistance above Daily Pivot)
5. MACD crossover from Positive to Negative and Red lag is turning down
6. When Stoch Histogram goes from Positive to Negative, and Red Lag is pointing Down ( both conditions have to be
met , if not take 50% profit and let the trade run )
7. When the Stop Loss is hit ( 20 pips + Spread ) – This is likely to happen only if you have not taken the trade as per
rules or taken a trade 30 mins before or within 30 mins of news

*6) I close position completely.

The are many stop losses as well.

Please see the attach for the trades.
One Chart is Worth Ten Thousand Words.
  • #6,654
  • Mar 3, 2008 4:07am Mar 3, 2008 4:07am
why dont make EA and make everyone happy..no need to sit in front of PC all the time
{Link Removed}]
  • #6,655
  • Mar 3, 2008 4:26am Mar 3, 2008 4:26am
Quoting Forex007
It is difficult to automate this particular system. It's not a science, but an art. When you have a good feel of the market, you can make semi-intuitive decisions, i.e. open trades when not all indicators are aligned 100%. At the same time, there are circumstances when you would stay out of trades even if when all the indicators are "on".

I did a backtest by playing back the market bar by bar, placing trades as per my judgment (based on the system) and the results were encouraging - with healthy risk you can achieve 150-200 pips per day.

Just my USD0.02
Let me know when you average 150-200 pips a day in real trading. In fact, just let me know when you do it per week. I'll start a religion and worship you.
  • #6,656
  • Mar 3, 2008 5:18am Mar 3, 2008 5:18am
Hi everyone

Is there any sign of Imran? I was hoping that we might see him here today as he has finished the pool ?
it would be really good to have his experience in here
Kim
  • #6,657
  • Mar 3, 2008 6:01am Mar 3, 2008 6:01am
Quoting kimmy
Hi everyone

Is there any sign of Imran? I was hoping that we might see him here today as he has finished the pool ?
it would be really good to have his experience in here
Kim

I'm sure he is happy to have some time to himself, as I know he put alot of time into the pooled a/c. He doesn't strike me as the hit and run type, so I'm sure we will see him around.

JC
  • #6,658
  • Mar 3, 2008 6:15am Mar 3, 2008 6:15am
Hi Guys

will start to post here tomm, it has been a hectic past 2 months, but well worth every minute,

as for people who comment that 150-200 pips cant be made in day or even a week, its all in the mind, if u feel u cant do it, u will not, there is nothing thats impossible
  • #6,659
  • Mar 3, 2008 6:37am Mar 3, 2008 6:37am
Quoting imransait
Hi Guys

will start to post here tomm, it has been a hectic past 2 months, but well worth every minute,

as for people who comment that 150-200 pips cant be made in day or even a week, its all in the mind, if u feel u cant do it, u will not, there is nothing thats impossible

Hi Imran

Great to hear from you ! I will look forward to tomorrow
thanks
take care
kim
  • #6,660
  • Mar 3, 2008 6:41am Mar 3, 2008 6:41am
Quoting ftraderx
Let me know when you average 150-200 pips a day in real trading. In fact, just let me know when you do it per week. I'll start a religion and worship you.
Hi fxtraderx

I trade using imrans system, i can assure you you can make 100+ pips per day using it, all you need to do is put the time and effort in to understand it, many here on this thread and trading room will testify to that as i have been giving my trades live.

Regards

yas
"Through inquiring of the old we learn the new"
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