Scalping system #7 (Great GBP/JPY 1M scalping strategy)
Submitted by Chelo on November 24, 2007 - 15:39.
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)
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Dear all,
can we use the RSI setting 10 to catch the good signal for trading?
i just review it on friday and it works fine.
what is your opinion?
best regards,
hanz
Dear Eward,
I also tested your system as usual.But finding some time zone will be useless,especially 8 GMT,and opening time of USA market.
But for some involatile market, it will be effective.
How's your comment?
Regards,
Ele
Totally agree, Ele. I also saw it being useless when the market is trending well. I'll continue watching charts this week and post updates on my research.
Hanz, thank you for your suggestion, I will look at RSI as well.
Regards,
Edward.
Edward
Thanks for all your comments, I am trying 100 EMA, and it seems to be working great. It is great to see so many people interested in this strategy, and willing to improve it.
Thanks to you all
Chelo
Edward
Happy New Year..
It works great on Eur/Jpy .Even easier because of the lower spread than Gbp/Jpy.
Could you please submit an actual account statement (with a longer period)?
thank you!
Great system. Try filtering some bad trades by using 5minutes and 15minutes time frames with stochastics indicator set at 8,3,3. Only enter trades that are in the direction of the major trends. I did about 56 trades with 7 losses.
Best of luck.
Chaleshi
yeah all cool ...thanks guys for sharing...and special thanks to Chelo
Matrix
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