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GBPJPY scalpers

  • #2,021
  • Apr 3, 2008 2:07pm Apr 3, 2008 2:07pm
Quoting ele
Hi all,
Could any buddy kindly tell me which EA trade live GBP/JPY orders now?
It will be profitable,if EA works perfect
ele
If you find any EA that is public, free and constantly profitable (at least end each month in profit), please let me know, I'll pay you $1000. So far I haven't found any. That's why I make my own, which is far from perfect yet.
  • #2,022
  • Apr 3, 2008 2:08pm Apr 3, 2008 2:08pm
Quoting malcolmb14
According to Gann theory when something is tested 3 time it breaks hard
It breaks the 3rd time or the 4th time?
Guess for myself, 4th time.
  • #2,023
  • Apr 3, 2008 2:11pm Apr 3, 2008 2:11pm
Of note on eurcad 4 hour

The 20 sma just crossed under the 10 sma , giving a 50 / 20 / 10 bearish stack
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  • #2,024
  • Apr 3, 2008 2:15pm Apr 3, 2008 2:15pm
in appreciation of all your efforts to help out and getting not enough thanks...thought i'd give u this one as a thank u


nzd/jpy short
79.30 or so should be about right

u can thank me tommorow


of course don't listen to me check it our for yourself





ps i'd put up a chart but i am too tired right now...i will leave that to you....u can use it to teach the nembies something lol


i am going ot bed..... count the pips when i wake up
  • #2,025
  • Apr 3, 2008 2:27pm Apr 3, 2008 2:27pm
Quoting dagoods
in appreciation of all your efforts to help out and getting not enough thanks...thought i'd give u this one as a thank u


nzd/jpy short
79.30 or so should be about right

u can thank me tommorow


of course don't listen to me check it our for yourself





ps i'd put up a chart but i am too tired right now...i will leave that to you....u can use it to teach the nembies something lol



i am going ot bed..... count the pips when i wake up

NJ is falgging right now. It tested 50 % of last move and the 50 smao n the 60 min

I would think downside target is slightly off 79.65 is mine. i am taking the short for overnight hold. Stop 81 , very nice low risk play
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  • #2,026
  • Apr 3, 2008 2:34pm Apr 3, 2008 2:34pm
Hi Malcomb,

Can you kindly share your view on chf/jpy, I was thinking of shorting it at 101.50 with stop at 101.85. Thanks
  • #2,027
  • Apr 3, 2008 3:00pm Apr 3, 2008 3:00pm
Quoting sharon_gpl
Hi Malcomb,

Can you kindly share your view on chf/jpy, I was thinking of shorting it at 101.50 with stop at 101.85. Thanks
Do not love that as much as NZDJPY set up
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  • #2,028
  • Apr 3, 2008 3:02pm Apr 3, 2008 3:02pm
Malcolm, thank you for starting this thread, it has been very helpful to many of us. Are you still working on putting together a traderoom?

S.
******************************
  • #2,029
  • Apr 3, 2008 3:06pm Apr 3, 2008 3:06pm
Hi malcomb,

Thanx for the teaching you have given. it's been very helpful. Looking forward to when you get a trading room going. Wanted to ask you what do you think about shorting the AUD/USD @ 9160 for a TP of 9135?
Hope the room will be up soon.

GLT

fxstman
  • #2,030
  • Apr 3, 2008 3:18pm Apr 3, 2008 3:18pm
Quoting malcolmb14
Do not love that as much as NZDJPY set up

Thanks for your support especially to a newbie like me...I am still reading through the thread...and I am really enjoying it ...is there For the NJ setup wat should ur advised SL and TP

Thanks once again and all u guys in this thread
  • #2,031
  • Apr 3, 2008 3:18pm Apr 3, 2008 3:18pm
Hi Malcomb,

So where do you plan I should short the kiwiyen and what is the stoploss, as for target I see possibility of 78.50 and 77.70. Thanks
  • #2,032
  • Apr 3, 2008 3:31pm Apr 3, 2008 3:31pm
Quoting startingover
Malcolm, thank you for starting this thread, it has been very helpful to many of us. Are you still working on putting together a traderoom?

S.

Trading room should be up and running in another week. We were hoping to have it going next week , but we are working on some programming
Blogging daily now at www.volume.zone
  • #2,033
  • Apr 3, 2008 3:35pm Apr 3, 2008 3:35pm
NJ I got at 80.45 , stop 81.1

Targets as shown on chart below 79.64, 79.4 , 79 .

NFP is coming out tomorrow. With the leading indicators showing that it might be neutral to slightly positive so i am hoping that NJ moves down overnight so that I can move stop to break even at least .

Attached Image (click to enlarge)
Click to Enlarge Name: nj.png Size: 200 KB
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  • #2,034
  • Apr 3, 2008 3:42pm Apr 3, 2008 3:42pm
Quoting malcolmb14
Trading room should be up and running in another week. We were hoping to have it going next week , but we are working on some programming
Another week? What's the hold up?? Chop Chop!.................j/k

  • #2,035
  • Apr 3, 2008 3:57pm Apr 3, 2008 3:57pm
Kujo 17

I just started learning and did not understand what you implied when you stated :Allow 15 pips above the high of the trigger candle/bar? If you can tell in a real elementary manner please.
Also is it safer to trade mini lots and is there a time to place a stop loss in a scalp trade?

Anyone else understand this and wish to help feel free to do it in case Kujo doesn't see this post.

Thanks
  • #2,036
  • Apr 3, 2008 4:25pm Apr 3, 2008 4:25pm
Quoting forex4me
Kujo 17

I just started learning and did not understand what you implied when you stated :Allow 15 pips above the high of the trigger candle/bar? If you can tell in a real elementary manner please.
Also is it safer to trade mini lots and is there a time to place a stop loss in a scalp trade?

Anyone else understand this and wish to help feel free to do it in case Kujo doesn't see this post.

Thanks
When i get a trigger on a samll time frame , weather the triggers comes from rsi crossing down thu 30 , a moving average cross , price breaking support or anything that suggest a trade , I wait for the bar to finish , then take the high of the bar plus 15 pips for long entry and low of the bar -15 pips for sell .

The reason for this is to allow the tremd to mature and to make sure that the trigger is not false.

Different time frames mean different pips to add / deduct

5 min = 15 pips
10 min = 15 - 20
15 min = 20 - 30 pips

30 min = 40 pips
60 min = 50 - 100 pips depending on pair
2 hour = 100 - 150 pips


As a beginner never risk more than 1% of your account , so if you have a 10 k account 1 min lot per trade. Does not osund that exciting does it , but over time , with good money management the fnds should add up.

Stops .. I look for a 1-2- risk reward ratio. So look to where your target it and then set your stop. I look for 30 - 100 pips on day trading gj , and have calculated that he best stop for my risk tolerance is 40 pips.
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  • #2,037
  • Apr 3, 2008 8:13pm Apr 3, 2008 8:13pm
As i mentioned earlier there seems to be good movement on the 2 mins in the time frame 1600 to 1800- pst ...

Here is the chart , it is very tradeable. I did not trade as i was busy doing something else.

Attached Image (click to enlarge)
Click to Enlarge Name: gj50.png Size: 145 KB
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  • #2,038
  • Apr 3, 2008 8:17pm Apr 3, 2008 8:17pm
Quoting malcolmb14
As i mentioned earlier there seems to be good movement on the 2 mins in the time frame 1600 to 1800- pst ...

Here is the chart , it is very tradeable. I did not trade as i was busy doing something else.

Attachment
looks like I may have to switch to trade station!
All that is left in FF is just plain garbage. "Cloggie"
  • #2,039
  • Apr 3, 2008 8:27pm Apr 3, 2008 8:27pm
Malcolm are you still in that short trade from earlier?
All that is left in FF is just plain garbage. "Cloggie"
  • #2,040
  • Apr 3, 2008 8:30pm Apr 3, 2008 8:30pm
Quoting tonyo524
looks like I may have to switch to trade station!
Tony that is esignal

I use Tradetsation also. .... it looks a little different and what i like it for is I have something called Radar that send me alerts on indicators on multiple time frames

The software does not really matter .. it is knowing the right time frames to trade on and when. For example the uercad chart below is the same time period , but makes no sense to trade it as it doesa not move in the 1600 - 1800 time period. This is why I scalp / day trade the euro overlap the second image is a 2 min of the same pair in the euro / us overlap ... yes that is a 120 pip range this morning

Personally I would rather catch the entry on the rsi and macd cross on a 2 min at extremes with a 20 pips stop and make 80 -100 pips in 2 hours than leave my position at risk to make 200 in a swing trade , with a possible draw down of 400 pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.png Size: 142 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurcad2.png Size: 173 KB
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