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 >>>
i decided to give it a go and page 3 really has the answer...it seems to eliminate all the false moves. if you wait until it all lines up with the page 3 indicators it seems to work fine using a back test. going to demo now and see what happens but looks promising.
Hello Bharat,
Is it possible to post your template - I'm not able to have the 1min Stoch on the 5min chart.
BR
Hello,
System starts to become more ready than under development.. Results are not bad at all..
On EUR/CAD with a broker with 1 pip spread the back test results are min 200% on monthly basis when traded with one standard lot. Last week on forward testing the results are slightly over 80% sucess rate and 2,86 profit factor.
The BB is 40 - open trade when a bit obowe / under first BB band and close trade at approx 70% between the center and first BB band. Used SL is 70. Still need to get the system to avoid the SL drawdowns, one needs to have nerves if the equity is not high enough to start with.. If someone would be interested to test this on the Dukascopy platform can send a test version - working only a limited time. You can contact me at dvanassendelft(at)qmail.com.
Regards,
Dirk
Question for Dirk,
What bands and setting did you use ?
Is it possible to share ur test results ?
Thanks Dirk.
SPECIAL THANKS TO EDWARD
Very interesting, Dirk
Will be waiting for results.
Regards,
Edward
Hi,
I find this system extremely interesting and having done some test trading looks working quite nicely. Use the BB 100 to get the entry signals and exit at BB middle band. Currently programming a EA for this (with some modifications). The EA will be using a SL calculated from the distance between the different bands. This way the trade will be stopped if goes too much to the wrong direction.. Will post results when get it tested.
Regards,
Dirk
I would definitely try 5 min USD/JPY, it is one of my favorite pairs and a time frame seems right.
Regards,
Edward
Hi all, nice input from everyone, i needed to ask Edward if i can trade usd/jpy 5 min timeframe cos it seems quite promising. waiting for reply. best regards
Hi all! I've been using this system for a while now and have found it to be very useful and accurate. In this past week, I doubled a 500 account with this system. Interesting thing is that I use it on several different pairs with success. Its true that it doesn't work well with trending pairs, but it works great with volatility. Using it on M1, I can jump in long or short and out again usually within a few minutes with a nice gain in pips. I use it in conjunction with Sto. and MACD which helps provide accuracy and timing. Excellent work all!
Good post..
Hi Professor Z,
There is always a chance. Not for a disaster though, because you have your stop in place, but a chance to hit a loser after a loser under unfavorable market conditions.
With this strategy you have to make sure you're trading during a ranging market, otherwise a trend will cancel all your efforts.
Regards,
Edward
Hi Dan,
The template is in the rar file called "1minuto.rar"
here on the first page: http://forex-strategies-revealed.com/gbp-jpy-scalping
Regards,
Edward
where can i download the template?
Dan
You could also use:
- (5,1) HullMA in the 1 Min time frame and entry when the HullMa Changes color.
- (8,7,7) Stochastich.
- (10) RSI.
And Follow the trend.
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