Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait | Page 390 | 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

  • #7,781
  • May 31, 2010 11:08am May 31, 2010 11:08am
Quoting blott
Hi bcarbon,
Looks like a good exit is when the red LAG saturates, either at top or bottom; is that what you mean?

I'd forgotten about the 'gut feeling' indicator!

Cheers,

Mike
Hi Mike,

Here is an example of when to use a MA as exit. The red LaG is not there yet, however the pip gain looks good and the "gut feeling indicator" (I love the way you put it ) is telling me not to be greedy and go away with what you have. Also the pin candle in the middle of the two blue candles is telling me that there might be a change in direction. So combine all that for exit points.

Attached Image (click to enlarge)
Click to Enlarge Name: imrams maexit.gif Size: 30 KB


after PA was going nowhere .

bcarbon.
  • #7,782
  • May 31, 2010 11:28am May 31, 2010 11:28am
Quoting cugir321
Folks, this is amazing....I'm stunned.

Made 103 pips last night. In 4 trades...

Imrans system combined with the ichimoku. Load two indicators on a 30 min chart. Lispa2mtf and the ichimoku. The two run hand and hand. If you load the two you can back test it in two minutes with your eyes.

Longs only when the tenkan line crosses up over the kijun line. Shorts when it crosses down.

The only modification I've had to make to Imran is a 37 pip sl (with spread) instead of 27. 27 is just too tight for me...I'd would have lost on a 33 pip...
Cugir321,

You were very enthusiastic about this system.
What did happen?

Regards,

bcarbon
  • #7,783
  • May 31, 2010 3:01pm May 31, 2010 3:01pm
Quoting bcarbon
Hi Mike,

Here is an example of when to use a MA as exit. The red LaG is not there yet, however the pip gain looks good and the "gut feeling indicator" (I love the way you put it ) is telling me not to be greedy and go away with what you have. Also the pin candle in the middle of the two blue candles is telling me that there might be a change in direction. So combine all that for exit points.

Attachment

after PA was going nowhere .

bcarbon.
What's PA? Panic Attack?

It seems LAG1 leaving its top/bottom line is a good exit indication.

I look at M5 & M15 to get an idea of trend, and M1 for entries. Do you have any additional tips to add?

I like Imran's system and will continue to practice with it.

Thanks for your help.

While entry points are fairly clear cut, seems the exits aren't. Has anyone tried to make an EA of this, or is there too much discretion involved in exits?

Cheers,


Mike








Mike
  • #7,784
  • Jun 1, 2010 1:04pm Jun 1, 2010 1:04pm
Good work!


Kindest regard

Forexcube
  • #7,785
  • Jun 3, 2010 3:43am Jun 3, 2010 3:43am
Hi All,

I found an EA called Scalpel, on this thread http://www.forexfactory.com/showthre...=190778&page=2, which is supposed to scalp using Imrain's system. However (you probably knew this was coming!) the equity curve goes the wrong way! See attached.

I've tried changing settings (won't work in MT4 strategy tester) but it still falls into the cellar.

If anyone has had success with this EA I'd appreciate the settings.

Thanks,



Mike
Attached Image (click to enlarge)
Click to Enlarge Name: ScalpelEA1stJune.JPG Size: 55 KB
Attached File(s)
File Type: ex4 Scalpel.ex4   14 KB | 655 downloads
  • #7,786
  • Jun 3, 2010 4:00am Jun 3, 2010 4:00am
Quoting blott
Hi All,

I found an EA called Scalpel, on this thread http://www.forexfactory.com/showthre...=190778&page=2, which is supposed to scalp using Imrain's system. However (you probably knew this was coming!) the equity curve goes the wrong way! See attached.

I've tried changing settings (won't work in MT4 strategy tester) but it still falls into the cellar.

If anyone has had success with this EA I'd appreciate the settings.

Thanks,

Mike

We should re code this EA. Given the signals, instead of buy the EA would sell. That way we should get the equity curve climbing. Just Kidding
  • #7,787
  • Jun 3, 2010 9:51am Jun 3, 2010 9:51am
Quoting Forexaccount
We should re code this EA. Given the signals, instead of buy the EA would sell. That way we should get the equity curve climbing. Just Kidding
Hi Forexaccount,
The thought did cross my mind, fleetingly, but it couldn't be that simple! The EA is locked and I'm no progrmmer. Maybe a simpler way is to turn the chart upside down

I posted quesries on that thread but it seems to have died. No reply to the author's PM either.

Are there any programmers out there who welcome a challenge?

Cheers,


Mike
  • #7,788
  • Jun 4, 2010 1:07am Jun 4, 2010 1:07am
maybe you can try their service to unlock the EA ex4mqdotcom,just for reference only ,or you can google it with word "EX4tomq4" or"ex4tomq4 decompiler"
  • #7,789
  • Jun 4, 2010 11:39am Jun 4, 2010 11:39am
Quoting hanindo2000
maybe you can try their service to unlock the EA ex4mqdotcom,just for reference only ,or you can google it with word "EX4tomq4" or"ex4tomq4 decompiler"
Hi Hanindo,
Not sure what you mean by "their service"; whose service? What do I do with it after I unlock it? If it so fundamentally goes the wrong way, doesn't that mean a major reprogramming, not just a tweak?

Thanks for your suggestion.

Mike
  • #7,790
  • Jun 6, 2010 3:00am Jun 6, 2010 3:00am
Hi there.

I have just spent the last few days going through this massive thread. Not every page but just the first 2 hundred pages or so and the last 50 pages as well.

I am a relative new trader with determined aspirations in finding a reliable strategy to trade the forex market. I am under no illusion that this is a risky business that can incorporate losses as well as gains. I also believe that with enough learning and right timing a good income can be made.

My short term goal is to just supplement my current income while gaining confidence in a system that is simple to trade and yet teaches me the finer points in how to become a good trader. I love the simplicity and yet multi-level complexity in trading. I have learnt 100 new things about trading every day and realise that this learning will never stop which is also an attraction to me.

I have chosen the Imrans strategy for a few reasons.
1) I think I can follow the rules.

2) A lot of people speak highly of these rules being able to increase their chance of predicting price fall or rise. This is the general theme on every page I read. The system has merit was the underlining theme

3) Simple back testing the rules seem to agree that this system has merit and further live testing / learning may be worth the effort.

This is the stage I am at the moment. I want to investigate this system further.

I also realise that I have a lot of disadvantages. Being new to trading (This being my first Forex Post) is one and also trying to learn the basics and the many different indicators and psychology and money management and risk vs reward and stop losses and etc etc in a very short time frame is a bit overwhelming.

I have my charts setup as per the first post and have added a couple of extra small things for confirmation or alerts. I plan to follow the rules that have been mentioned in this thread on a demo account.

While reading all these pages I have made notes that was not in the first thread. These were more of guidelines as to when to time the trade and when to exit. One of the most important lines I read was "Is there any obstacle that may inhibit the movement in the direction of my trade".

I am going to organise these notes over the next few days into a general summary of what I believe this thread is about. I hope to also make observations on what I think important as to when to enter and exit.

I would love to contribute my findings to this thread in the hope that we can learn this system together and therefore help each other by pooling our knowledge and experience.

by reading the last few pages I think I am on the same wavelength with some of you in regards to developing / learning this strategy so we can get a few extra dollars to enjoy more of the fun things in life.

Your goals / comments and general feel of the last few pages are quite positive and community / sharing orientated with fits well with my personality

Anyway, I must remember to keep my future posts shorter but I just want to let you know where I am coming from and my aspirations in becoming part of this small group of people still keeping the Imrad strategy alive.

My trading experience is really very minimal but I learn fast and understand that learning is a necessary part of the journey. One posters' signature of this thread is "There is no shortcut to anywhere worth going"

Thanks for listening to this ramble and I will soon post the summary of my findings as well as my interpretations of some hints and tips that I came across along the way while reading this massive and useful thread.

Stryker

By the way I live in Australia and support the socceroos
  • #7,791
  • Jun 7, 2010 7:53pm Jun 7, 2010 7:53pm
You need to be very careful during a ranging chart. Also, you must know the trend and it must be solid. If you don't have a solid way to determine the trend then use .01 units until you can say you can positively identify the trend.....consistently.

There are easier ways to make a buck....but it does work.

Quoting stryker
Hi there.

I have just spent the last few days going through this massive thread. Not every page but just the first 2 hundred pages or so and the last 50 pages as well.

[color=black][font=Verdana]I am a relative new trader with determined aspirations in finding a reliable strategy to trade the forex market. I am under no illusion that this is a risky business that can incorporate losses as well as gains. I also believe that with enough learning and right timing...
  • #7,792
  • Jun 8, 2010 7:15am Jun 8, 2010 7:15am
I wholly agree Cugir; ranging markets can be a killer, unless they are just smoothly oscillating in a channel.

I too am impressed with this system and am determined to master it. I've not taken a look at your tweaks and improvements; what would you say was the area that you've improved the most? Entries? Exits? Staying in the trade?

Cheers,

Mike
  • #7,793
  • Jun 16, 2010 9:21am Jun 16, 2010 9:21am
Hello Imran ,

Good work , in addition to indicator i have added Fisher Yur4ik indicator and moreover it will indicate reversal happening in the stochhistogram .

Tahnk u for sharing

Karthik
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 26 KB
  • #7,794
  • Jun 17, 2010 12:49pm Jun 17, 2010 12:49pm
Quoting karthik9
Hello Imran ,

Good work , in addition to indicator i have added Fisher Yur4ik indicator and moreover it will indicate reversal happening in the stochhistogram .

Tahnk u for sharing

Karthik

Hi Karthik,

Interesting. Would you care to share your indicator?


Cheers,


Mike
  • #7,795
  • Jun 18, 2010 4:32pm Jun 18, 2010 4:32pm
Hi all does this system still work and where is the threadstarter does anyone know why he left ?


best regards
  • #7,796
  • Jun 19, 2010 4:21am Jun 19, 2010 4:21am
Hi mike ,


And i have attached fisher yurik indicator and in addition to that http://www.forexfactory.com/showpost.php?p=1946089

add follow this link at avoid false signal laguerre.

KARTHIk
Attached File(s)
File Type: mq4 FX_Fisher_Yurik.mq4   2 KB | 864 downloads
  • #7,797
  • Jun 20, 2010 3:55am Jun 20, 2010 3:55am
Quoting karthik9
Hi mike ,


And i have attached fisher yurik indicator and in addition to that http://www.forexfactory.com/showpost.php?p=1946089

add follow this link at avoid false signal laguerre.

KARTHIk
Karthik,

I am not able to download the attached indicator, it just says "attachment.php". Am I the only guy facing this issue? Pls suggest.
  • #7,798
  • Jun 20, 2010 11:02am Jun 20, 2010 11:02am
Quoting karthik9
Hi mike ,


And i have attached fisher yurik indicator and in addition to that http://www.forexfactory.com/showpost.php?p=1946089

add follow this link at avoid false signal laguerre.

KARTHIk
Hi Karthik,
Many thanks for the indi. I did Google this indi and found it was availabe with three updates, the last one claiming not to repaint. If you like, I'll post them here.

Laxsri,

I use Mozilla FireFox. I just left clicked the link and chose to save. It downloaded as a .mq4 file. If you have a problem, change the file extension to .mq4 when you save it. Hope that works.

Cheers,

Mike
  • #7,799
  • Jun 21, 2010 12:18am Jun 21, 2010 12:18am
Quoting blott
Hi Karthik,
Many thanks for the indi. I did Google this indi and found it was availabe with three updates, the last one claiming not to repaint. If you like, I'll post them here.

Laxsri,

I use Mozilla FireFox. I just left clicked the link and chose to save. It downloaded as a .mq4 file. If you have a problem, change the file extension to .mq4 when you save it. Hope that works.

Cheers,

Mike
Hi mike

Can u upload updated version of the indicator it would be so grateful.
REGARD

Karthik
  • #7,800
  • Jun 21, 2010 2:30pm Jun 21, 2010 2:30pm
Quoting karthik9
Hi mike

Can u upload updated version of the indicator it would be so grateful.
REGARD

Karthik
Hi Karthik,
Here are all the Fisher indis I have.

Cheers,


Mike
Attached File(s)
File Type: zip Fisher Yu4ik.zip   4 KB | 1,007 downloads
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