Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

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

RE-Imran Sait Method 6 replies

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

Making an EA: "Simple Method of Scalping any pair by Imran Sait" 82 replies

How to make my own "Imran Sait" Indicators? What do they mean? 4 replies

Attachments: Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
Exit Attachments

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

Tested and must admit that this system cannot be rated as good, please don't take this as offense Imran. I have tested it as you pointed the strict rules, but one thing is missed here... indicators cannot help if you don't follow the trend, and the worst thing to happen to one trader is hope. Every single action I took in a downtrend when indicators told me to buy was blown to the limit, and there was no indication for going to sell. I will repeat, no single rule broken and tested it for around 35 days.
I personally trade live, but without any indicators, and support and resistance is my ultimate goal.

P.S. I have the feeling that many of you will, at first, spit on me, but later will understand that what they have done was one trade successful and next was only hope and demo accounts never feel how hope might end.
ognen thanks for the feedback.

As many others have said though, the way to achieve success with this set-up is to ONLY take trades in line with the prevailing trend, as indeed you yourself have alluded to in your post. More aggressive traders can also use the set-ups to make trades in a clearly rangebound market too, after all when the range does finally break it often heralds the start of a new trend developing, but like you I trade with real money, so safety is paramount.

Using this strategy I also work off longer timeframes. I am currently long the AUDUSD after taking a signal generated on the 1H chart, and also long EURCHF from a signal I got on the 1H chart confirmed by a trend change on the 4H. I very rarely trade on 5 min.

Ognen, far from 'spitting' on you, I welcome any and all posts that examine set-ups like these from every angle. Can I suggest you run your tests again but this time ignoring every signal that goes against the trend? Only if you have the time of course but it would be an interesting exercise I think.

GL/GT
Quoting lingsbord
ognen thanks for the feedback. As many others have said though, the way to achieve success with this set-up is to ONLY take trades in line with the prevailing trend, as indeed you yourself have alluded to in your post. More aggressive traders can also use the set-ups to make trades in a clearly rangebound market too, after all when the range does finally break it often heralds the start of a new trend developing, but like you I trade with real money, so safety is paramount. Using this strategy I also work off longer timeframes. I am currently long...
Thanks for the reply and of course I have the time to retest it. Your reply tells me it is based primarily on trend detection method with confirmation on the bigger charts and safer to trade it on 1H and above. Isn't this true?
Actually I don't think the trading timeframe is especially relevant because I think as an entry trigger the strategy works well for scalpers and swing traders alike. However, if scalping on a 5 minute I would be taking a view of the hourly chart and probably the 30 minute as well to take a view on the overall trend, and then I'd only be taking trades in that direction. For ME it suits my trading style to use it on the 1H and 4H charts as I'm not a scalper.

Also, scalpers should avoid significant news releases as these not only screw up price action for a while but the resulting aftermath effect on indicators takes some time to shake out and return to their normal effectiveness. I believe that trading against the prevailing trend AND trading around or soon after news releases would have a detrimental effect on test results.

Another way to have a 'prevailing trend' indicator would be to add a MACD with settings of 38, 120, 10 to smooth out unnecessary 'noise', applied to a chart of a longer timeframe than the one you're trading from, so a 5 minute trader might put it on a 15 or 30 minute chart and then use it to define the correct direction.
Hello Mr Imran,
Am trading on Binary and this scalping method is not working in 5min/15min did you have indicator for binary trader
Hi

Thanks for sharing. I tried downloading the files but it says "insufficient permissions"?
Any hel;p appreciated - thanks
Quoting jamesq007
Hi Thanks for sharing. I tried downloading the files but it says "insufficient permissions"? Any hel;p appreciated - thanks
Good try, just keep moving bro.
Anyone tried writing an EA to mimic this strategy? I mean the original one posted here http://www.forexfactory.com/showthread.php?t=48926

I am still newbie but without the source code to Laguerre or to MACD traditional I wasn't able to encompass these signals in my EA.

Any help appreciate.
Enter Signature
hello
and thank you for your good comments
hello imran and thank you for your excellent system
can you or any programmers merges all your indicators in just
1 histogram indicator?
this will be a great indicator if someone could did it
thanks
Imran... thank you for all your posts on this. I have done very well the past 2 days. This looks very promising and thank you for sharing!
hello,
is this Laguerre - indicator for MetaTrader 5 https://www.mql5.com/en/code/432 same indicator which is on the first post??
Perhaps most younger traders don't remember , but this was one of the best and most discussed strategies of FF .
I think it's time to renew the discussion.
Unfortunately , Imransait is disappeared , seems victim of an over-leveraged trade , but for me he was a great trader.
First of all , I suggest you read the Pdf ver.1.2 on post #1 and studying well the screenshots. In my opinion the Tf most profitable is M5 , but you can also try M1 and M15.
Make some tests and see that it is a great system.
Hi Imran

If you add "Currencies Strength Indicator" to your template "5min Forex Trade Strategy" you will have the perfect setup. It will be as close to the "holy grail"
we all are looking for as possibly can. I played with it and if you use the CSI as it should then I dont see a loss to anybody with your template. Great template and it is all I am going to use in the future with the CSI.

Greetings from South Africa
Koos
Quoting Koosonline
Hi Imran If you add "Currencies Strength Indicator" to your template "5min Forex Trade Strategy" you will have the perfect setup. It will be as close to the "holy grail" we all are looking for as possibly can. I played with it and if you use the CSI as it should then I dont see a loss to anybody with your template. Great template and it is all I am going to use in the future with the CSI. Greetings from South Africa Koos
Hi Koos.
I am also trading from the RSA ! (Jhb)
What settings in the CSI?
Rgds

Pieter
hi guys i am also trading from south africa,thanks you guys i managed to create my system,the csi is a powerful indicator it helps in monitoring the trend direction,
however i use the following indicators,
osma with settings(66,99,21)
osmax with settings(12,20,9)
stochastics default settings
DMI default settings
and currency power meter
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5.png Size: 48 KB
Quoting Marothi
hi guys i am also trading from south africa,thanks you guys i managed to create my system,the csi is a powerful indicator it helps in monitoring the trend direction, however i use the following indicators, osma with settings(66,99,21) osmax with settings(12,20,9) stochastics default settings DMI default settings and currency power meter {image}
hello Matothi......would u pls share ur indis n tpl.....it be nice to ty ur setting...tq
Quoting imransait
Hello Everyone I am trading in GBP/JPY and other currencies using this Simple method for quite sometime now and its proven to be successful 90% of the times, the only times it has failed is when a spike up or down during news time, so i discourage anyone to stop using this 30 mins prior and after the news to escape from the whipsaws. This method was initially started for 1min charts but due to the majority of the members were on brokers whose spread was high, the time frame was changed to 5min . I am and was using this on 1min , 5min and 15min,...
HI IMran,
Does this first post and all the attached files contain the updates? I did see later on someone writes at length about a change, but it sounded too complicated. I will download the files and template, and read the PDF. Thank you.
Quoting imransait
Hello Everyone I am trading in GBP/JPY and other currencies using this Simple method for quite sometime now and its proven to be successful 90% of the times, the only times it has failed is when a spike up or down during news time, so i discourage anyone to stop using this 30 mins prior and after the news to escape from the whipsaws. This method was initially started for 1min charts but due to the majority of the members were on brokers whose spread was high, the time frame was changed to 5min . I am and was using this on 1min , 5min and 15min,...
For the long set up you mention that price has to be above the daily pivot. For the short, does it have to be below the daily pivot? Also, in some charts you don't have MACD. When do you use MACD?
Is anyone using this method? Please message me.
0 traders viewing now