Great GBP/JPY 1M scalping strategy
thanks for the good system, but can you please post the template here?
Interesting. The price can just continue to move beyond the middle band. Dont we need any other confirming indicators before entering? Is this enough?
Thanks.
Hi folks:
I thought I would check this out. I trade exclusively the beast (GBPJPY).
I average 70-100 pips/day
Roughtly 4 trades for about 15 minutes/day
Good idea with the bollinger bands 
.
I use FIBS. I plot fibs on the h1 TF. Then I zoom in on the 5min TF.
I then just wait till price crosses a FIB. I take the direction of price as it crosses the fib. No stop loss (just mental -20pip). The key is to SEE which way price is going and take that direction as it crosses a fib.
Not to take away from this thread, I just wanted to share.
Google. TheBigPicture.pdf and check out the NEVER LOSE AGAIN thread.
Peace
Folks:
Here is an entry I am currently in. Usually I am in and our before the hour but Price action is telling me to stay. In fact it reached the next fib level and I have entered another short... 500+ pips.
Plus when the trade started GBPJPY was at a spread of -20 when the run started.
I have to show this crazy entry....
Edit: I forgot to mention that GBPJPY was at a spread of -20 when the run started.
Nothing but fibs plotted on the H1 time frame, entries on the 5 min timeframe and a peak at H1 BIAS. No other indicators.
Update... it is still going down.. it "may" reach the 38.2% fib. At this point my trailing stop loss is at 200pips.
No significant risk now. I can afford a 200 pip loss and still be ahead.
Hmm, what is the difference between patience and greed???
I was just targeting 30 pips :P and look what happened!
good system , will try it thanks
Hi,
I am a new member of your community, saying hello and that it is good to know that a group like yours exist that i can turn to for support and alsi share with others.
Love
Lorna
you are welcome dude
let's share what ever we have and let start earnig pips from today
Guys, Ariesto just forgot to tell where he takes all the strategies (without permission...)
Scalping system #7 (Great GBP/JPY 1M scalping strategy) | Forex strategies revealed
yes but at least he shared a good system . not many here know about that website. Good work posting here ariesto.
you are welcome....
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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)
Once you load your template you will notice the three sets of bollinger bands. Now, price will constantly range between these lines.
Sell strategy:
When price crosses the upper red band , at least half way to the orange band (if it gets to the yellow band is better but not as usual) Then the price will tend to retrace towards the center of the bollinger bands, you profit form this retracing.
Buy Strategy, it is the same as selling, the difference is that we will wait for the price to range between the lower red and yellow bands, and trade the retracing towards the center.
Tips: do not trade on ranging ,or quiet markets, do not trade previous to news releases. Go for 5 to 10 pips. Great system to trade between opening of london session and the closing of the japan session.
Stop Loss: since this strategy requires you to look at the screen (remember this is the 1M time frame) I tend to have two kinds of stops: time based and loss based.
Time based: Try and figure out how long will it take the market to get in your expected direction, if the time that you planned is already due, then close the order. No point on waiting for a loss...
Stop Loss: Since you are trading a very tight time frame your stops should also very very tight. Sometimes, you will profit from a 3 minute trade and you wont be able to set a proper S/L. So your stops will be given to you by your money management system...
Download Template for Metatrader Platform:
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