Luminous M1 GBPJPY Strategy

Hi friends, found this interesting strategy for GBP JPY M1 charts on facebook. Looks good on visual examination. Needs forward testing.

OVERVIEW OF LUMINOUS BASIC ;

Chart : MT4 platform

Time frame : 1 minute

Pair : All pairs ( but mostly tested on GBPJPY)

Indicator : Moving Average

SETUP ;

1. Open any pair and change to 1 minute time frame.

2. Select Moving Average Indicator and set the following setting ;

a) Period : 200

b) Shift : 0

c) MA Method : Simple

d) Apply to : Close

e) Style : Blue (thick line)

RULES ;

1. Look at the blue MA and prepare to trade once the price HIT / CROSSED the blue MA.

2. Enter LONG when the price is ABOVE the blue MA.

3. Enter SHORT when the price is BELOW the blue MA.

4. Set STOP LOSS on previous HIGH / previous LOW.

5. Set TP 15 to 25 pips or more (recommended for GBPJPY only).

TIPS ;

"Dont think, just follow the rules. If you missed it, don't catch... more to come... never ending opportunities..."

Template:

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Re: Luminous M1 GBPJPY Strategy

this looked really good, one of the easiest scalping method i ever seen, back tested it abit and realise losses are small about 10-15pips and win is usually 25pips and above. tried it on gbpusd quite good also.

Re: Luminous M1 GBPJPY Strategy

Simple and profitable. that is what we call a real system. 1M timeframe. you dont loose much but u gain beautifully, I recommend this

anyone finding it difficult to profit.

Re: Luminous M1 GBPJPY Strategy

Had one live trade before i had to leave for work, closed for 10 pips, drawdown was 11.4 pips, not too bad for 14 minutes :)

Re: Luminous M1 GBPJPY Strategy

Just missed ... :((

GU

http://www.shrani.si/f/2L/qi/1NElhPTz/gu.jpg

GJ

http://www.shrani.si/f/2E/xO/2WaFavJ4/gj.jpg

Re: Luminous M1 GBPJPY Strategy

@Remington

Dont cry, the prey excaped today. Tomorrow is still a hunting day. so pack up your riffle. :| There's still hope okay? <):)

Re: Luminous M1 GBPJPY Strategy

I think this SYS is too simple. It can't overcome choppy market thus creates many false signals during certain flat periods not only at night, but within daily hours too.

This system would make more sense if it would be used on a renko chart.

Doing so it would produce less signals but would overcome price dancing back and forth in a narrow range.

People were thinking a lot about trading GBPJPY with renko charts with bars of 12-14 pips of height and they said it that was successful system. I think that was on forexfactory forum and guy name was smth like lexrst or so, cant' tell for sure.

This system rules should in my opinion be working only during London session mostly. Otherwise during night flat there will be too many false signals like on the picture shown below:

http://s004.radikal.ru/i208/1001/42/b50ea02a6f25.jpg

Re: Luminous M1 GBPJPY Strategy

Thanks for this strategy.

At the risk of complicating it a bit, I'd suggest a bit of a buffer to filter out the little feet that step over the line but have no intention of going any further.

Here's an idea:

The same 200 simple moving average of the high and the 200 simple moving average of the close. If it makes it through there, then it seems you might have an improvement in success rate. You also have to look at previous support and resistance, as well as the direction of the 200 SMA and its angle.