Scalping Strategy 1M - Recommended GBP/JPY | Forex Factory

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Scalping Strategy 1M - Recommended GBP/JPY

  • #1
  • First Post: Jan 26, 2010 3:46am Jan 26, 2010 3:46am
Dear all,

I found this strategy and i made some rules for it and add one more indicator.
Please check it out what are you think it about.

Charts : MT4 platform (or Other)
Time frame : 1M
Pair : All pairs (Recommended GBP/JPY)
Indicator : Moving Average
Indicator : Daily Pivot Points

SETUP:

1. Open any pair and change to 1M Time Frame.
2. Select Moving Average Indicator and set the following setting ;
a) Period : 200
b) Shift : 0
c) MA Method : Simple
d) Apply to : Close
e) Style : Blue (thick line)

RULES:

1. Look at the blue MA and prepare to trade once the price HIT / CROSSED the blue MA.
2. Enter LONG when the price is ABOVE the blue MA.
3. Enter SHORT when the price is BELOW the blue MA.
4. Set STOP LOSS on previous HIGH / previous LOW.
5. Set TP 15 to 25 pips or more (Recommended for GBPJPY only).
6. And don’t get any positions against the 1H or 4H trend.

Attached you will find the template for MT4 and the indicator for daily pivot points.

Happy Trading.
Attached Image (click to enlarge)
Click to Enlarge Name: scalping.gif Size: 46 KB
Attached File(s)
File Type: zip Scalping Strategy.zip   6 KB | 4,831 downloads
Trade only what i see
  • #2
  • Jan 26, 2010 4:57am Jan 26, 2010 4:57am
Quoting TRFoti
Dear all,

I found this strategy and i made some rules for it and add one more indicator.
Please check it out what are you think it about.

Charts : MT4 platform (or Other)
Time frame : 1M
Pair : All pairs (Recommended GBP/JPY)
Indicator : Moving Average
Indicator : Daily Pivot Points

SETUP:

1. Open any pair and change to 1M Time Frame.
2. Select Moving Average Indicator and set the following setting ;
a) Period : 200
b) Shift : 0
c) MA Method : Simple
d) Apply to : Close
e) Style : Blue (thick line)

RULES:

1. Look at...
Looks an interesting and a simple system. Are u using the same system on 1h or 4h to decide the trend. For how long u are using this and how many trades u are getting daily. Thanks for posting such a simple scalping system.
  • #3
  • Jan 26, 2010 6:08am Jan 26, 2010 6:08am
Dear reachjj,

First of all I don't scalp becouse i am trading with bigger time frame like 1h or 4h. I don't have a lot time to stay on computer.

I don't remember where i found this strategy ut looks like very very simple and interesting and i though to modify and post it here.

This chart it is from today i made some test on demo and i was profitable.

So guys for you who scalp make a test on demo i hope it will help you.

Good Luck
Trade only what i see
  • #4
  • Jan 26, 2010 1:04pm Jan 26, 2010 1:04pm
Yes, this system looks interesting. 200MA always looks interesting but I have a few questions.
1. Did you try to use EMA instead of SMA?
2. What are the hours of trading? Because in some hours spread could be bigger what has huge meaning when we use 1M timeframe. I think London session would be the best.
3. Did you try to use bigger timeframe (5M, 15M)?
4. Reachjj asked and I also want to know - how we can tell what trend we have on 1H and 4H. Do we use also 200MA or something else? What if it seems flat?
5. What are the daily pivot points for, you did not mention them when you described enters and exits or I do not understand something?
Thanks for sharing ideas
  • #5
  • Jan 26, 2010 4:15pm Jan 26, 2010 4:15pm
It's a basic swing trading system: check the trend on higher timeframes then trade when the price (or fast MA in some versions) crosses the slow MA. It can be very profitable until the price lays flat and starts to move up and down across the slow MA, causing repeated whipsaw losses.

Most traders using this type of system add some kind of filter to avoid these dangerous situations, for instance a slope of the 200 MA (if the slope is too close to 0, don't trade). Do you have any plans for this type of filter?
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  • #6
  • Jan 26, 2010 4:28pm Jan 26, 2010 4:28pm
Please redo your zip file. It will not open, either from below your price chart or from the paperclip. Thanks.
If nothing changes, nothing will change...
  • #7
  • Jan 27, 2010 1:34am Jan 27, 2010 1:34am
Quoting rnfuller102
Please redo your zip file. It will not open, either from below your price chart or from the paperclip. Thanks.

Please try open it with winrar because i zip it with that program.
Trade only what i see
  • #8
  • Jan 27, 2010 1:45am Jan 27, 2010 1:45am
Quoting elgoro
Yes, this system looks interesting. 200MA always looks interesting but I have a few questions.
1. Did you try to use EMA instead of SMA?
2. What are the hours of trading? Because in some hours spread could be bigger what has huge meaning when we use 1M timeframe. I think London session would be the best.
3. Did you try to use bigger timeframe (5M, 15M)?
4. Reachjj asked and I also want to know - how we can tell what trend we have on 1H and 4H. Do we use also 200MA or something else? What if it seems flat?
5. What are the daily pivot points for,...
So many questions for first post

So, first of i like the simple and i believe on it because the simple is good.

1. EMA and SMA are almost the same. Try using EMA 233 and u will see it is almost the same with 200SMA. I choose SMA 200 because it is mostly used from a lot of traders.

2. I live in Albania and test it on Europe time. So i believe London session will be good.

3. Yep i try it only to find the trend no to take any position, as you see this strategy it is only for 1M TF.

4. To find the trend i usually use 2 EMA, 55 and 89 on 1H. That help me a lot.

5. And final i use the Pivot for profit target EX. if start from S2 and the trend it is Up my TP i is S1. (10-15 pips before it).

Sorry guys for my English but it is not my native language.

Good luck to all!
Trade only what i see
  • #9
  • Jan 27, 2010 1:51am Jan 27, 2010 1:51am
Quoting DennisTM
It's a basic swing trading system: check the trend on higher timeframes then trade when the price (or fast MA in some versions) crosses the slow MA. It can be very profitable until the price lays flat and starts to move up and down across the slow MA, causing repeated whipsaw losses.

Most traders using this type of system add some kind of filter to avoid these dangerous situations, for instance a slope of the 200 MA (if the slope is too close to 0, don't trade). Do you have any plans for this type of filter?

Yes, this is true. I use the same follow the trend and make it as simple as possible.

Yes, I am working on it to filter some fake signals and i will posted very soon.

Attached you will find some results from this strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: result.gif Size: 9 KB
Trade only what i see
  • #10
  • Jan 27, 2010 3:33am Jan 27, 2010 3:33am
Quoting TRFoti
Yes, I am working on it to filter some fake signals and i will posted very soon.
Hi TRFoti

Very interested to read more about your trading idea and how you like to determine false signals. I love gbp/jpy and short term trading so I'm really interested in learning more.

Thanks so much...

regards
Daisygirl
  • #11
  • Jan 27, 2010 6:38am Jan 27, 2010 6:38am
Quoting Daisygirl
Hi TRFoti

Very interested to read more about your trading idea and how you like to determine false signals. I love gbp/jpy and short term trading so I'm really interested in learning more.

Thanks so much...

regards
Daisygirl
Thanx Daisygirl, i hope will post it this week the new changes.
Trade only what i see
  • #12
  • Jan 27, 2010 2:46pm Jan 27, 2010 2:46pm
I don't know where is my post I wrote 2 hours ago. Maybe there was too many links. Anyway, to specify the trend we could use ADX or inclination of SMA200 and the fact if candles are below or above it. Using ADX we could try to specify the strenghth of trend too. Do you agree with me TRFoti?
I will check it out in my free time with some simple EA. Unless someone has the other idea?
  • #13
  • Jan 28, 2010 12:57am Jan 28, 2010 12:57am
Quoting elgoro
I don't know where is my post I wrote 2 hours ago. Maybe there was too many links. Anyway, to specify the trend we could use ADX or inclination of SMA200 and the fact if candles are below or above it. Using ADX we could try to specify the strenghth of trend too. Do you agree with me TRFoti?
I will check it out in my free time with some simple EA. Unless someone has the other idea?
ADX it is my favorite indicator but not for 1M time frame.
I use it usually on 30 min ore 1h there may see a strong trend.

I was thinking to add 50 SMA and 100SMA to this strategy for more clear entry and filter some fake signals.
Trade only what i see
  • #14
  • Jan 28, 2010 3:00am Jan 28, 2010 3:00am
Yes, ADX comes to my mind to specify the trend on bigger timeframes like 1H or 4H, not 1M where 200SMA is our signal. However I think ADX is not enough and I agree with you that we could use some MA's too.
  • #15
  • Jan 29, 2010 11:58pm Jan 29, 2010 11:58pm
TRFoti thanks for sharing this system never thought a 200sma would be so good as an indy .Using it on 1min charts did 3 scalps on euro on friday all winners
  • #16
  • May 7, 2017 12:11am May 7, 2017 12:11am
Please anything or EA or indicator on this method?
  • #17
  • May 7, 2017 6:21am May 7, 2017 6:21am
Quoting TRFoti
{quote} Yes, this is true. I use the same follow the trend and make it as simple as possible. Yes, I am working on it to filter some fake signals and i will posted very soon. Attached you will find some results from this strategy. {image}
Nice profit. Thanks for sharing this system
Risk comes from not knowing what you're doing.
  • #18
  • May 9, 2017 7:25am May 9, 2017 7:25am
tks TRFoti
Thanks for sharing this system
  • #19
  • May 22, 2017 11:47am May 22, 2017 11:47am
Thanks for Sharing...It's very simple one but might be effective...Let's try!!!!
  • #20
  • Feb 2, 2022 9:03am Feb 2, 2022 9:03am
I recommend this indicator as a filter

https://www.mql5.com/en/market/produ...ree+Rating006#
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