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Great GBP/JPY 1M scalping strategy

Reviewed and recommended by Rita Lasker & Green Forex Group

Disclaimer
Please be aware of the loss, risk, personal or otherwise consequences of the use and application of this books content. The author and the publisher are not responsible for any actions that you undertake and will not be held accountable for any loss or injuries. U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risks. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading software or methodology is not necessarily indicative of future results. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDEROR- OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this website or any e-book purchased from this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading software is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Forex Mercenary and any authorized distributors of this information harmless in any and all ways. The use of this software constitutes acceptance of my user agreement. Source: free from the Internet. The strategy developed by Chelo.

Introduction Let me introduce a strategy that we have trying to work out for the past month, and we seem to be getting better at it. Please follow the tutorial below to install and use this strategy.

Installation Open GBP/JPY chart M1, M5 or M15 timeframe. Put 3 Bolinger Bands indicators to the chart.

3 sets of bollinger bands: 1. Period 50. Deviation 2 (Red)

2. Period 50. Deviation 3 (Orange)

3. Period 50. Deviation 4 (Yellow)

Now, price will constantly range between these lines.

How The System Works 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...

If you have any questions, please feel free to ask our support team by sending an E-mail to: support@ritalasker.com We will do our best to help you.

Yours, Rita Lasker & Green Forex Group. Any additional information: http://www.ritalasker.com Contact Information: http://www.ritalasker.com/contacts.htm ALL Green Forex products: www.ritalasker.com/products.htm

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