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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I found that if using stochastic, 14-3-3 was the best setting to filter false signals. I also tried 5,8 and 21. But 14 was best in my back test observation.
I will like to try this Trading System.
Can someone please summarize this Scraping Strategy for me.
Thanks!
What broker and platform are you using? I'm kinda new to this and i can't find other brokers than Forex.com
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