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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Hi guys!
One more thing I have observed is that this strategy is at its bet when used in less volatile market times. For ex. 1 hours after London open or 1 hour after us open. Trading right at the open and close of markets is bringing in a lot of volatility. Yes, I know we want volatility to scalp but considering the fact that gy is an extremely volatile pair, adding more would be just complicating the issue.
You quys are good keep up the good work because you don't know how much this help others!
Thank you
i will keep you posted on how things go
are anyone still using this strategy
Chelo thank you! bless you and the team greaty please keep doing what you do by helping others, the more you help others the more you will be blessed!
whatever you all do don't leave offline
why don't you make an EA for this system
This seems a promising scalp. Great work guys. Has anyone tried this on the EUR/USD? I'm seeing some great stuff from it when the market is ranging.
Thank you all for the kind comments. I have no idea how to program an EA, and to be honest, IMO I do not trust them one bit, the only thing I could do with EAs is to backtest them since that is usually fun, but it is not more than kids play. I am preparing some more scalping strategies which I will be hopefully posting soon. Good luck to all, and let's keep on learning.
Chelo
Dear Edward
is it true your setting is BB(200,x,x. Do u mind giving picture of your setting. i got a weird graph
cheers
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