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AskingAlmond

1M Scalping Strategy - GBP/JPY Recommendation

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To all,

I discovered this strategy and modified it by adding some rules and an additional indicator.
Please take a look and let us know what you think.

Charts: MetaTrader 4 platform (or Other)
Time period: 1 minute
All pairs (recommended GBP/JPY exchange rate)
Moving Average Indicator
Daily Pivot Points

SETUP:

1. Select a pair and switch to the 1M Time Frame.
2. Select Moving Average Indicator and configure it as follows:
200 a) Period 0 b) Shift 0 c) MA Simple technique
d) Apply to:
e) Color: Blue (thick line)

RULES:

1. Keep an eye on the blue moving average and be prepared to trade when the price HITS / CROSSES the blue MA.
2. Buy when the price is ABOVE the blue moving average.
3. Enter SHORT when the price is LOWER than the blue moving average.
4. Calculate STOP LOSS based on the previous HIGH / LOW.
5. Increase the TP value by 15 to 25 pips or more (Recommended for GBPJPY only).
6. Furthermore, avoid taking positions against the 1H or 4H trend.

The template for MetaTrader 4 and the indicator for daily pivot points are attached.

Best of luck with your trading.

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3 minutes ago, AskingAlmond said:

To all,

I discovered this strategy and modified it by adding some rules and an additional indicator.
Please take a look and let us know what you think.

Charts: MetaTrader 4 platform (or Other)
Time period: 1 minute
All pairs (recommended GBP/JPY exchange rate)
Moving Average Indicator
Daily Pivot Points

SETUP:

1. Select a pair and switch to the 1M Time Frame.
2. Select Moving Average Indicator and configure it as follows:
200 a) Period 0 b) Shift 0 c) MA Simple technique
d) Apply to:
e) Color: Blue (thick line)

RULES:

1. Keep an eye on the blue moving average and be prepared to trade when the price HITS / CROSSES the blue MA.
2. Buy when the price is ABOVE the blue moving average.
3. Enter SHORT when the price is LOWER than the blue moving average.
4. Calculate STOP LOSS based on the previous HIGH / LOW.
5. Increase the TP value by 15 to 25 pips or more (Recommended for GBPJPY only).
6. Furthermore, avoid taking positions against the 1H or 4H trend.

The template for MetaTrader 4 and the indicator for daily pivot points are attached.

Best of luck with your trading.

It appears to be a simple and interesting system. Are you using the same system to determine the trend on 1h or 4h? How long have you been using this and how many trades do you get per day? Thank you for sharing such an easy scalping system.

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First and foremost, I do not scalp because I trade with larger time frames such as 1h or 4h. I don't have much time to spend on the computer.

I'm not sure where I found this strategy, but it appears to be very simple and interesting, so I thought I'd modify it and post it here.

This chart is from today, when I ran some demo tests and was profitable.

So, for those of you who scalp, run a test on the demo, and I hope it helps.

Best wishes

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Yes, this system appears to be intriguing. I'm always intrigued by 200MA, but I have a few questions.
1. Have you tried using EMA rather than SMA?
2. What are the trading hours? Because the spread may be larger during some hours, which has a significant impact when using a 1M timeframe. The best session would be in London, in my opinion.
3. Have you tried using a longer timeframe (5 or 15 minutes)?
4. Reachjj inquired, and I, too, am curious as to how we can determine what trend we have on 1H and 4H. Do we also use 200MA or something different? What if it appears to be flat?
5. What are the daily pivot points for? You didn't mention them when you described enters and exits, and I'm not sure what they're for, or I'm missing something.
Thank you for sharing your thoughts.

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It's a straightforward swing trading strategy: monitor the trend on higher timeframes and trade when the price (or fast MA in some versions) crosses the slow MA. It can be extremely profitable until the price settles and begins to move up and down across the slow MA, resulting in whipsaw losses.

Most traders who use this type of system add a filter to avoid these dangerous situations, such as the slope of the 200 MA (don't trade if the slope is too close to 0). Do you have any plans for a filter like this?

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4 minutes ago, Flamingopher said:

Yes, this system appears to be intriguing. I'm always intrigued by 200MA, but I have a few questions.
1. Have you tried using EMA rather than SMA?
2. What are the trading hours? Because the spread may be larger during some hours, which has a significant impact when using a 1M timeframe. The best session would be in London, in my opinion.
3. Have you tried using a longer timeframe (5 or 15 minutes)?
4. Reachjj inquired, and I, too, am curious as to how we can determine what trend we have on 1H and 4H. Do we also use 200MA or something different? What if it appears to be flat?
5. What are the daily pivot points for? You didn't mention them when you described enters and exits, and I'm not sure what they're for, or I'm missing something.
Thank you for sharing your thoughts.

For a first post, there are a lot of questions.

So, first and foremost, I like simplicity and believe in it because simplicity is good.

1. The EMA and SMA are nearly identical. If you use EMA 233, you will notice that it is nearly identical to 200SMA. I chose SMA 200 because it is widely used by traders.

2. I live in Albania and put it through its paces on European time. As a result, I believe the London session will be beneficial.

3. Yes, I tried it only to find the trend and not to take any positions; as you can see, this strategy is only for 1 million TF.

4. I usually use two EMAs, 55 and 89 on 1H to find the trend. That was extremely beneficial to me.

5. Finally, I use the Pivot for profit targets. For example, if I start from S2 and the trend is up, my TP is S1. (10-15 pips ahead of it).

Sorry for my English, but it is not my first language.

Best wishes to everyone!

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2 minutes ago, Sniperipheral said:

It's a straightforward swing trading strategy: monitor the trend on higher timeframes and trade when the price (or fast MA in some versions) crosses the slow MA. It can be extremely profitable until the price settles and begins to move up and down across the slow MA, resulting in whipsaw losses.

Most traders who use this type of system add a filter to avoid these dangerous situations, such as the slope of the 200 MA (don't trade if the slope is too close to 0). Do you have any plans for a filter like this?

Yes, this is true. I use the same follow the trend and make it as simple as possible.

Yes, I am working on it to filter some fake signals and i will posted very soon.

Attached you will find some results from this strategy.

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I'm very interested in learning more about your trading strategy and how you identify false signals. I'm particularly interested in learning more about gbp/jpy and short term trading because I'm a fan of both.

Many thanks...

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I don't know where is my post I wrote 2 hours ago. Maybe there was too many links. Anyway, to specify the trend we could use ADX or inclination of SMA200 and the fact if candles are below or above it. Using ADX we could try to specify the strenghth of trend too. Do you agree with me?
I will check it out in my free time with some simple EA. Unless someone has the other idea?

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3 minutes ago, LoomVo said:

I don't know where is my post I wrote 2 hours ago. Maybe there was too many links. Anyway, to specify the trend we could use ADX or inclination of SMA200 and the fact if candles are below or above it. Using ADX we could try to specify the strenghth of trend too. Do you agree with me?
I will check it out in my free time with some simple EA. Unless someone has the other idea?

My favorite indicator is the ADX, but not for the 1M time frame.
I usually use it for 30 minutes or 1 hour to see if there is a strong trend.

I was considering adding 50 SMA and 100 SMA to this strategy for a more clear entry and to filter out some false signals.

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