Naijafx, that's the oldest "trade" in the book and is a great way to blow your account. Works well on a demo account but forget it on any live account.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

GBP/JPY

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

It's been one of the easiest few days trading in a while, especially on GBP/USD but GBP/JPY followed it down to a certain extent. Why did you find it difficult? I definitely wouldn't want to be long with such a strong down trend in place and the BoE ...

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

We had a classic short set up today at either 1615 or 1625 London time (depending in whether or not you waited for Lag2 to move below 0.85) which would have gone immediately against you. It goes to show the dangers of trading during BoE days which I ...

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

GBP/USD should be easier to trade, with the main trend now being down (if we can get a lower low) but there's also bound to be bounces due to the US cutting interest rates too. GBP/JPY will be choppy.

End of the easy money for GBP/JPY and EUR/JPY?

Got me scratching my head too.

Help-I Need A New Broker

The volatility of g/y is not roughly double e/y. It's more like 50% greater. The spread on the other hand is roughly 2 or 3 times greater with most brokerages so it's much more cost effective to trade e/y. It's true you'll get more pips with g/y but ...

EUR/JPY Vs. GBP/JPY

Your logic is bizarre. How you can trade and not understand the benefits of narrow spreads is what mystifies me.

Help-I Need A New Broker

fx ninja, I agree with what you say about price action but in that case do you really need indicators at all? Why not just wait for the higher low or lower high and then enter the trade as soon as price takes off in your direction?

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

No offence. It's just the "article" looks like an advertisement for a website and has nothing to do with your system so I was curious why you would post it in your (otherwise excellent) thread.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

It isn't that amazing. Price tends to revert to the mean so it's not surprising it sometimes appears to be supported by a moving average. Sometime, on the other hand, it will break through and you'll be left scratching your head why your "amazing" ...

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Who is Steve DeWitt and why is Imran posting spam for his website in this thread? Just curious.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

For me when I load everything from the first post the indicators work fine but there are no lines on the autopivot (just labels). When I close and reopen MT4 the autopivot has lines but the MACD is messed up. Will your autopivot solve this problem?

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

I am aware how to use Bollinger Bands but the use of the upper and lower bands for breakouts is not part of the system as explained in the PDF so I can't see the point in including them on the chart (unless you're going to include them in the system ...

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

What's the point of the Bollinger Bands when all we pay attention to is the middle Bollinger Band? The middle BB is just a 20 SMA so why not just put that there instead?

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

The last 2 Wednesdays saw some serious shorting even before 5pm.

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Imran, you probably missed my question earlier in the thread. In the PDF one of the charts shows Lag1 crossing Lag2 as a set-up. Is that a valid set-up because there's nothing in the text of the PDF about that?

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait

Durable goods orders were due 2 minutes after you posted this so better to wait for half an hour? But then Existing Home Sales are coming up an hour later so maybe sit it out until the news has passed?

Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait