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- BFried replied Oct 5, 2007
How is that magic? Didn't that just give a SELL indicator (lag pointing down past 0.85) 1 time frame before it went up over 50 pips?
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Did you mean RED lag for 5 min? Or did you mean reg as in regular, so using both lags?
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
If trading only with the red lag, would you recommend a 1min or 5min chart? And would you have a bigger S/L due to the bigger movement that is expected or no?
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
It's probably not safe to trade for another 2 hours right? (30 mins after the last USD news)
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
I didn't take either of them, but I wasn't looking at the charts during the first, so I didn't have the opportunity. However, if you look even closer, if I had taken the first there might have been the same problem. At around 11:47 (when the first ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Well I think Imrain's point was that if I got in EXACTLY when the lag 1 pointed down below .85 it wouldn't have been close to the EMA. It was 15-20 pips away from it. However, if you were even 30 seconds late to the party, in just 1 minute there was ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
If you look at the chart again, my entry wouldn't have been at 237.40. The sell signal came at about 237.25, then 5 minutes later it went up to 237.48, which would have triggered my S/L. I've marked up my chart even more to further illustrate this. ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Here's another question that might help some other people. Look at the very end of the first chart. Is this a valid SELL signal or does the red lag need to be above .45 when pointing down? I didn't take this trade because I assumed it had to be ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Uhh, if I had taken that trade I would have immediately hit my stop loss and lost 15 pips. How would that have been good?
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran SaitDidn't you see the chart? Even now, an hour later, it still hasn't moved in a negative direction after that indication. ...
- BFried replied Oct 5, 2007
Feel free to PM me if you want.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Sorry to bug you with so many posts Imrain... Can you take a look at this chart? I didn't act on this, but could this be a false sell indication? I RARELY see a false indicator with your lag setup, but isn't this a valid sell? While I'm sure this ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
1-5 pips, usually 2 or 3. Right now it's 2 pips. However, they do take a $1 comission per mini lot (basically 1 pip) on both ends. So if the spread is 2 pips, it's more like 4 pips after comission. Still not bad at all. They have 1 pip spreads for ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
I use MT4 for the charts, but I use my broker's software (MBT Navigator) to actually place orders. It's kind of redundant since you can place orders through MT4, but I have MT4 on 1 screen and my broker on another screen so it's just as easy.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Out of all of those arrows, 6 out of 7 looks like false indicators, or am I wrong? And on the last one, the lags don't look like they should be when you would normally buy.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
LOL, I've seen this somewhere before
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Thanks Imran, I wasn't at my computer yet so that first trade you showed wasn't possible. I wish I had been there
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait. Do you think getting the 11 pips on the rebound of that huge movement was a good idea, or risky? As for the second trade, I was ...
- BFried replied Oct 5, 2007
Imran, I was wondering what you thought of these two scalps. Were they too risky? Were they OK because the indicators were right? The result was positive, but I'd still like you input. I put a yellow up arrow where I entered and a yellow check mark ...
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
Wow...I was hesitating on my entry and passed on a good opportunity. The GBP/JPY just jumped 50 pips in 8 minutes.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 5, 2007
I've noticed this as well. I'd like to hear what Imran has to say about it.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
- BFried replied Oct 4, 2007
No problem. I'm glad you didn't take it the wrong way! Thanks for posting the warning
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait.