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- BFried replied Oct 9, 2007
Haha...thanks Imrain
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait. I wasn't THAT mad, but it's just funny because I have no problem reading the charts, seeing potential trades, etc. If I just had some dicipline I could be 80%+ with this system, but I keep making stupid mistakes. As soon as ...
- BFried replied Oct 9, 2007
Damnit, I just made a really stupid mistake. I didn't follow my rules, and as a result, I gave up 10 pips. Basically, as I said before, once it broke S2 I would trade, I set TP 10 pips below S3. Well, it hit that point, I took my 35 pips, and for ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
I waited to buy after it broke S3 and weekly pivot. The end result? I gave up 30 pips before getting in. Better safe than sorry, but I did spot this trade a long time ago.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
Just went long, it broke S3 and weekly pivot. Looking to TP around 237.91 (5 pips below S2). As I suspected, lag 2 is now starting to point up.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
That's what I'm doing, but if it breaks through S3 by 10 pips and continues through the weekly pivot I will consider it a reversal and not a bounce. I'd also assume that once that happens lag 2 would start going up as well. Thus far it's broken it ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
Imran uses both, but has said the 5 min is safer.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
Here's a new chart that follows the last one I posted. You can see how strong the Lag 1 is, but it's just not enough to break S3. It's gone all the way to 1.0 and the price is still bouncing off S3. It may get enough momentum to break it, but I ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
I'd say that's about as clear a signal as they come in terms of the lags (but I'm not an expert...yet
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait) However, keep an eye on the green support line. It very well might bounce off that and go back in the downward direction. It's only a few pips ...
- BFried replied Oct 9, 2007
Imrain, I'd like to confirm my logic with you on this chart. There was a very clear BUY signal from the lags, but I didn't take this trade. If you look at the end of the chart, this is a classic buy scenario if you only use lags. However, the price ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 9, 2007
I thought you should be using .15 and .85, not .1 and .9. I always wait for it to break 0.15 and go a little further before entering.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
Yeah I posted my charts when I saw this same long, but the EMA was saying something else, so I didn't pull the trigger. Then Imrain said to go long and I was like GAH! I should have gotten in before...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
I just got in at 239.00. Late to the party, but hopefully good for 20+ pips.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
After all of this time it went up a whopping 9 pips and now lag 1 is flat on the top. Not exactly one of your bigger moves... There is like no volatlity right now...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
Imrain, Take a look at this chart, at the very end. The blue lag just went up above 0.15 right after I took the pic, I was thinking about entering, but the EMA just crossed suggesting a downward trend...does that mean I shouldn't do it? (The EMA ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
Yeah, I was going to say something as well... Risking more than 2-3% of your account on any one trade isn't smart. To lose 80% of your account in one trade wouldn't you'd need to trade your entire account balance AND lose 80 pips? Or maybe he has ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
I hesitated and missed out on a big move... 100+ pips or so bounce off the daily R1. I didn't enter at first because I wanted it to break the blue EMA, then I hesitated to pull the trigger and decided to wait for it to break red EMA. Then I figured ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
We have a winner
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait. Thanks that was it.
- BFried replied Oct 8, 2007
Interesting, I removed Sunday data like you suggested and now it appears correctly. My settings for "show sunday data" weren't changed when connected to the other server though. I wonder why it wasn't using sundays data on that server even when it ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
Something is definitely wrong... If I use the metaquotes demo server, my chart looks like #1 (normal?). If I use the northfinance demo server, my cart looks like #2 (broken?). Why would changing the server make such a huge difference, and how do I ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 8, 2007
Imran, Is there something wrong with my daily pivot indicator? It shows the daily pivot at 238.5, R1 @ 238.95, R2 @ 239.02, R3 @ 239.12 Why would R2 be 7 pips from R1, and R3 be 10 pips from R2??? This seems wrong, but I don't know. If these are ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait