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 >>>
hello every one, i use this strategy by using RSI,BB,EMA on usd/jpy only in 1MIN chart.
BB-50,2
BB-50,3
BB-50,4
then delete center line
EMA-9,18
RSI-10
and then draw horizontal lines at 24 and 72 in RSI
every thing is clear. if did not learn this scalping strategy mail me
rajivzzz(at)rediffmail.com
I am using 300 period BB(deviation 1,2,3,4) ,50-2,3,4 and 20-2. Establish the trend on 15min, 5 min and S/R areas. Do not trade counter trend(only when you hit a strong S/R line after a big move). The 300BB will show you your levels(if one of the 300BB converges with a trend line or S/R start trading). I use the 50BB the same as Chelo does. Hope this helps
Octa
Quite simple to do it in fact. Add BB 50.4, 50.5 for extreme movements.
Then, never trade on the first touch of the BBs. Always allow a good rebound to identify the "character" of the price movement. In my experience, if the price hits for example BB50.5 once and rebounds, its a good chance it will hit BB50.5 again and rebounds again. The most dangerous thing that happens with this strategy is the price keeps creeping against you without rebounds. Therefore, always see that there is a rebound character in the price before committing.
Try it!
Alex Liu
Dear all,
Does anyone have find some method of better identify the trade direction? The systm is really great but as you know GBPJPY is a high volatill currency pair and we need additional confirmation before entering the trades...
Any ideas?
batalhadematos at gmail dot com
Regard
Paulo
It works on all platforms, including the MT4.
Regards,
Edward
does the system only work with Meta Trader 4 ?
does it work with other platforms
7castello(at)gamil.com
does this system stil work is anyone still using it ?
let me know, originally the creator showed profit of over 90% in a week !! and posted the results online, but what is the system doing now ?
thanks
7castello(at)gmail.com
maybe you can look at Phil Newton's scalping strategy
hello Mr. Auther we are waiting for update from your side
I don't know,
unless the author returns to share it with us.
Regards
Thomas
hi Thomas
where we can got this EA?
B.R.
Abdullah
I hope he'll check back with us later.
From his comments, Mr R. Dirk used an EA.
Thomas
where's Mr R. Dirk
can you replay to my post Boss
Hi Sam,
may be mentioned here EA generators coudl help:
http://forums.forex-strategies-revealed.com/how-start-writing-trading-sy...
Cheers,
Thomas
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