Scalping system #7 (Great GBP/JPY 1M scalping strategy)
Submitted by User on November 24, 2007 - 15:39.
Submitted by Chelo
So here is a strategy I have trying to work out fot the past month, and I seem to be getting better at it. What would be very nice, is if anyone can help me tune it a bit more.
Currency: GBP/JPY or USD/JPY (though i use it mainly on gbp/jpy:
Timeframe: 1M, 5M, 15M
Indicators: 3 sets of bollinger bands:
1) Period 50. Deviation 2 (RED)
2) Period 50. Deviation 3 (orange)
3) Period 50. Deviation 4 (Yellow)
(the template for this bollinger bands can be downloaded form this post)
Read entire post >>>
Hi folks,
I stumbled across this strategy by chance.
I tried it straight up on my demo account just for fun, just to see if it would work (so many strategies and EAs do not work...).
Hey, I made £20.00 in two minutes.
Very impressive.
Many thanks for posting this system.
thanks all... i found this strategy very effective. will comeback ones got the result of my trade
Hye... thank you for sharing..
any new updates?
hi all ... great strategy .... however we are missing derik with his EA .... any new suggestions ??
i think it actually a great system if used by a great trader.
it's the best indicator, i have many lossssssssss, but at least i found ..............thank for the author, good by.
That's probably where I should leave it to traders.
Sorry, I can't do it at this time.
Kind regards,
Edward
Thanks a lot Edward
tk cr
suds
Hi Suds,
Favorite strategies, here is the link to the conversation: http://forums.forex-strategies-revealed.com/advanced-strategy-the-midnig...
While regarding the brokers, it's a personal choice. Imagine that I'm starting to tell everyone that some particular broker is the best - that's not the right thing to do for a number of reasons. I can't give such advice, but I can suggest choosing the regulated and registered broker. If you do that, you'll have no problems with withdrawals or other account related issues. To find regulated brokers, take a look at this large site: http://www.100forexbrokers.com/
Kind regards,
Edward
To Avoid, wait for 3 candles to close.
Thanks a lot Edward, i am new to live trading and your site is like a savior for me. you are doing a great work.
Please also suggest me some good broker for scalping and hedging as i have heard a lot that brokers cancel your account and don't pay ur earnings, ineed to choose a long term broker, if not here please mail me at sudsind(at)gmal.com
and which strategies do you personally trade.
Sorry a lot of questions but really need your help.
God bless U
Thanks
Suds
Hi Suds,
Dealing desk brokers have 6-10 pips spread on GBPJPY.
No dealing desk brokers would offer lower spreads, around 4 pips on average.
2-3 pips would be possible on an ECN account.
So, if it's an ECN platform from Alpari, then you'll have the same low spreads on your live account, otherwise, you can expect around 5-7 pips when you start trading live.
GBPJPY pair is good when you have lower spreads. The pair is quite volatile and moves a lot allowing to benefit when scalping. If your spread will be above 7 pips, it'll be more challenging to do.
USDJPY is a good pair for this strategy. EURUSD can be traded as well.
Best regards,
Edward
Hi Edward soome traders mentioned here, that there is a spread of 10 pips on GJ, but on alpari demo a/c i m getting 2-3 pips spread, will i likely to get more spread in live a/c and if so thn which pair is best to trade this strategy.
Thanks in advance
Suds
This strategie is too good.
can anyone submit the strategie again with all the update please?
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