A Master Class in FX Intraday Trading by F & Co
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Forexmospherian
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Hi Guys
Back this week and plan to bring in some new changes to make this new journal even better
Starting off with a great example of a LIVE scalp sell on the EU at 4 21pm today ( a Key times) - along with a chart showing as the move started - and then over 25 mins later after it fell another 30 pips - all from an approx 4 pip stop.
I will not allow this journal to become a free intraday trade alert service for any one just to copy and make money without even having to bother learning how to do it - but instead just taking my or other traders call's
Instead I genuinely want to train at least another 3+ T2W members my method in full - totally 100% free of any charge.
It will take anything from approx 4 to 8 months all depending on your existing experience - the only bench mark i have at the moment is Major Magnum who has proved without doubt it works - he has provided many genuine both demo and live statements showing his impressive results
I have used the EU as the example today - with a full session working chart - anyone who works naked is missing out on so many moves ( many traders show naked charts simply because they dont want anyone to know how they actually trade - ie secretive and hardly helpful etc )
Remember - We can do what the Industry says cannot be done -ie Trade Intraday FX even in the noise and make consistent monies day after day - week after week . Sure its not in the Industries interest to let retail traders know it can be done - they want all retailers on daily / weekly charts with 100 + pip stops so that even if they are really lucky and good etc - they will still only make 50% ROC pa etc etc
Back this week and plan to bring in some new changes to make this new journal even better
Starting off with a great example of a LIVE scalp sell on the EU at 4 21pm today ( a Key times) - along with a chart showing as the move started - and then over 25 mins later after it fell another 30 pips - all from an approx 4 pip stop.
I will not allow this journal to become a free intraday trade alert service for any one just to copy and make money without even having to bother learning how to do it - but instead just taking my or other traders call's
Instead I genuinely want to train at least another 3+ T2W members my method in full - totally 100% free of any charge.
It will take anything from approx 4 to 8 months all depending on your existing experience - the only bench mark i have at the moment is Major Magnum who has proved without doubt it works - he has provided many genuine both demo and live statements showing his impressive results
I have used the EU as the example today - with a full session working chart - anyone who works naked is missing out on so many moves ( many traders show naked charts simply because they dont want anyone to know how they actually trade - ie secretive and hardly helpful etc )
Remember - We can do what the Industry says cannot be done -ie Trade Intraday FX even in the noise and make consistent monies day after day - week after week . Sure its not in the Industries interest to let retail traders know it can be done - they want all retailers on daily / weekly charts with 100 + pip stops so that even if they are really lucky and good etc - they will still only make 50% ROC pa etc etc
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Forexmospherian
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Now we are In October - no longer trading summer hours - ie from approx 6 00 am to only 4 - 5 pm UK time with the day split into 3 part sessions
With the darker mornings and winter around the corner - not starting to around 6 45 / 7 00 am and then depending on the market might still trade until 6 pm UK time.
The format will be changing - but not so much tomorrow morning but certainly in next 3/ 4 days.
So far in October been focusing more on the Eur /Aud - its taken over from the EJ as my favourite intraday pair - will always cover the EU and GU and then cherry pick other pairs according to news items on the day etc - like Aussie Dollar important news tonight in Asian session.
Will be spending some time on Sun 11 thread assisting her this next few days as well - but still hope to cover at least 4 hrs everyday on this journal with live calls supported by relevant charts etc etc
See you in the morning
Regards
F
With the darker mornings and winter around the corner - not starting to around 6 45 / 7 00 am and then depending on the market might still trade until 6 pm UK time.
The format will be changing - but not so much tomorrow morning but certainly in next 3/ 4 days.
So far in October been focusing more on the Eur /Aud - its taken over from the EJ as my favourite intraday pair - will always cover the EU and GU and then cherry pick other pairs according to news items on the day etc - like Aussie Dollar important news tonight in Asian session.
Will be spending some time on Sun 11 thread assisting her this next few days as well - but still hope to cover at least 4 hrs everyday on this journal with live calls supported by relevant charts etc etc
See you in the morning
Regards
F
Hi F,
Welcome back. We really missed you!
As you can see the thread has been sort of quiet waiting for you. As for me, I’m still struggling….some days are very nice, some are awful (mostly due to unexpected ranges). I have some questions regarding the way you trade certain common situations. I’ll ask on next few days.
I can’t wait to hear the tips for Sun’s next stage.
Have a good evening,
Keen246
Welcome back. We really missed you!
As you can see the thread has been sort of quiet waiting for you. As for me, I’m still struggling….some days are very nice, some are awful (mostly due to unexpected ranges). I have some questions regarding the way you trade certain common situations. I’ll ask on next few days.
I can’t wait to hear the tips for Sun’s next stage.
Have a good evening,
Keen246
NVP
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Hi F
Welcome back.....still on hols till Thursday.....bored as hell......
good,to,hear the trading on track and I hope,you can find a few more traders willing to try something they will find challenging and interesting...
May finally get to table myself on Friday to scalp.....depends on other priorities
N
Welcome back.....still on hols till Thursday.....bored as hell......
good,to,hear the trading on track and I hope,you can find a few more traders willing to try something they will find challenging and interesting...
May finally get to table myself on Friday to scalp.....depends on other priorities
N
Forexmospherian
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Tuesday 6th October 2015 - Pre Opens
Good Morning Guys
First day back for nearly 3 weeks and not a good start for me as I am not going to be around for the London Open at 8 am - in fact out just after 7 10 am and maybe not back to 9 00 am ish
Still after then around most of the day and depending how busy the US early session is - I might stay around trading 90 mins later than when I normally finish - as no longer summer trading for me - the dark mornings mean no more 5 30 -5 45 am starts and early afternoon finishes,
I have been loving the EA this last 7 trading days - taken over as my new intraday favourite from the EJ .
I will as normal cover anything from 4 to 8 FX pairs - with maybe more updates on the EU and GU as they are the most popular pairs for many intradayers.
I will then cherry pick a few other popular low spread pairs - all depending on the news releases etc - ie maybe the UCad / AU or even some days all the yen cross combinations .
I have some new ideas for this trading journal as well that I might try and bring in this week -but for now the main basics
1. The "Line in the Sand" ( LiTs) areas for the intraday trading sessions - different to just S & R's
2. 6 Key Times every hour that must correspond with at least 2 quick LR crossovers ( the more the better) at ideally new interim high or low prices
3. Time rules on interim levels
4. A I min multi LR chart - for new followers suggest only 3 or 4 LR's not the multi 9+ as will only confuse.
5. We look initially for short term scalp trades - ideally from 3 to 25 pips all within 15 -20 mins - always with tight stops - anything from 3 to 7 pips maximum
6. We then look at PPND - ( more about that later) but always with stops then in profit of a few pips and then adjusted as and when the move changes. The idea is in some cases a basic scalp at a high or low with a 5 pip stop can go on to make 50 - 100 even 1000 pips over the next few hours and days and weeks etc
7. To remain consistent and to ideally make a positive money return every day - we must multi intraday trade - ideally 10 to 20 trades per full day. However if with your first 4 scalps - you win on everyone and make your daily target - be it 20 - 30 or even 50+ pips a day - then just stop. If however during your first 8 scalps you have 3 losses or even 5 consecutive bad 5 pip losses - you know then you will have to take more intraday trades to get back in the black - never mind make your daily target. Dont worry - i never stop when if I am fortunate to make my 50 pips in the first hour or two - but please dont ever lose more than 50% of your gains by carrying on trading etc
8. My level and results are not representative of a normal intraday FX full time trader - I dont want to mislead FX traders who believe all the bull shi7e put out by the industry - instead let other traders such as Major Magnum and now hopefully Sun 11 and a few others prove what is possible - ie 75- 85% win ratios - even on 1% stake size 10% + weekly returns ( but not compounded- that another story) - consistency - low risk and so many other benefits using my method
9. The downside is - its not easy or simple - you need loads of trading experience on the 1 min ideally and be able to be disciplined and focused etc etc
10.The method works - any trading conditions - any trading days - on any trading pairs - i suggest for a start you cover at least 2 or 3 pairs and major on one pair - ie the flavour of the hour or session one ideally
OK - will be back later on after 9 00 am this morning
A quick update before i leave though
Have a good trading day
Regards
F
Good Morning Guys
First day back for nearly 3 weeks and not a good start for me as I am not going to be around for the London Open at 8 am - in fact out just after 7 10 am and maybe not back to 9 00 am ish
Still after then around most of the day and depending how busy the US early session is - I might stay around trading 90 mins later than when I normally finish - as no longer summer trading for me - the dark mornings mean no more 5 30 -5 45 am starts and early afternoon finishes,
I have been loving the EA this last 7 trading days - taken over as my new intraday favourite from the EJ .
I will as normal cover anything from 4 to 8 FX pairs - with maybe more updates on the EU and GU as they are the most popular pairs for many intradayers.
I will then cherry pick a few other popular low spread pairs - all depending on the news releases etc - ie maybe the UCad / AU or even some days all the yen cross combinations .
I have some new ideas for this trading journal as well that I might try and bring in this week -but for now the main basics
1. The "Line in the Sand" ( LiTs) areas for the intraday trading sessions - different to just S & R's
2. 6 Key Times every hour that must correspond with at least 2 quick LR crossovers ( the more the better) at ideally new interim high or low prices
3. Time rules on interim levels
4. A I min multi LR chart - for new followers suggest only 3 or 4 LR's not the multi 9+ as will only confuse.
5. We look initially for short term scalp trades - ideally from 3 to 25 pips all within 15 -20 mins - always with tight stops - anything from 3 to 7 pips maximum
6. We then look at PPND - ( more about that later) but always with stops then in profit of a few pips and then adjusted as and when the move changes. The idea is in some cases a basic scalp at a high or low with a 5 pip stop can go on to make 50 - 100 even 1000 pips over the next few hours and days and weeks etc
7. To remain consistent and to ideally make a positive money return every day - we must multi intraday trade - ideally 10 to 20 trades per full day. However if with your first 4 scalps - you win on everyone and make your daily target - be it 20 - 30 or even 50+ pips a day - then just stop. If however during your first 8 scalps you have 3 losses or even 5 consecutive bad 5 pip losses - you know then you will have to take more intraday trades to get back in the black - never mind make your daily target. Dont worry - i never stop when if I am fortunate to make my 50 pips in the first hour or two - but please dont ever lose more than 50% of your gains by carrying on trading etc
8. My level and results are not representative of a normal intraday FX full time trader - I dont want to mislead FX traders who believe all the bull shi7e put out by the industry - instead let other traders such as Major Magnum and now hopefully Sun 11 and a few others prove what is possible - ie 75- 85% win ratios - even on 1% stake size 10% + weekly returns ( but not compounded- that another story) - consistency - low risk and so many other benefits using my method
9. The downside is - its not easy or simple - you need loads of trading experience on the 1 min ideally and be able to be disciplined and focused etc etc
10.The method works - any trading conditions - any trading days - on any trading pairs - i suggest for a start you cover at least 2 or 3 pairs and major on one pair - ie the flavour of the hour or session one ideally
OK - will be back later on after 9 00 am this morning
A quick update before i leave though
Have a good trading day
Regards
F
Forexmospherian
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6 57am
EU
the LiTs area is from 1167 to approx 1205 ish - wide area first thing
We need ideally over 1227 and 33 + to be holding on to scalp buys for larger rises back up to 1260 or even 1290 +
Under 1200 - the bias favours lower but we can only hold on to scalp sells under 1167 and 1150
6 00 and 6 30 am were both scalp buys on the 1 min set up but with R's at 1188 /91 and then 1203/5
I will have to cover all the other LiTs areas later on but will say the Yen crosses have been great for scalping from 6 39 and 6 51 am - with a current strong yen pulling price down on the UJ and EJ
See you later guys - sorry not around next 90+ mins or so
F
PS - watch out for spikes at exactly 7 00 and 8 00 am Opens - just to be safe etc
EU
the LiTs area is from 1167 to approx 1205 ish - wide area first thing
We need ideally over 1227 and 33 + to be holding on to scalp buys for larger rises back up to 1260 or even 1290 +
Under 1200 - the bias favours lower but we can only hold on to scalp sells under 1167 and 1150
6 00 and 6 30 am were both scalp buys on the 1 min set up but with R's at 1188 /91 and then 1203/5
I will have to cover all the other LiTs areas later on but will say the Yen crosses have been great for scalping from 6 39 and 6 51 am - with a current strong yen pulling price down on the UJ and EJ
See you later guys - sorry not around next 90+ mins or so
F
PS - watch out for spikes at exactly 7 00 and 8 00 am Opens - just to be safe etc
Forexmospherian
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EU
9 04 am
Price so far made 1218 with small interim R's at 1220 - 25 and then 40 -50 area
This is updated 2 min chart showing yesterdays LiTs area and this mornings as a plain un coloured rectangle
I will be focusing on the EA more today but will update and cover a few key other pairs as well
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9 10 am
Updated LiTs area
GU - 5135 - 5150 - above both favours scalp buy bias - below both favours bear sell bias
UJ - 120 40 - 120 55 - same again - nice sell off after 6 39 am and 6 51 for 25+ pips
UCad - 3075 - 3090 ish - same again
AU - 7075 - 7090 ish - same again
EJ - 134 60 - 134 82 ish - same again
Updated LiTs area
GU - 5135 - 5150 - above both favours scalp buy bias - below both favours bear sell bias
UJ - 120 40 - 120 55 - same again - nice sell off after 6 39 am and 6 51 for 25+ pips
UCad - 3075 - 3090 ish - same again
AU - 7075 - 7090 ish - same again
EJ - 134 60 - 134 82 ish - same again
Forexmospherian
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Thank you showtyne and Nick / NVP and Sun etc etc
Looking forward to getting the show back on the road again and helping Sun and all other members who are prepared to devote 4 -8 months of learning the whole method to end up a consistent profitable intraday FX trader
Forexmospherian
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EA
9 22 am
Update
This pair as already retraced 100 + pips over last 3 hrs - after dropping 160 pips overnight after Aussie Dollar news
This pair as taken over as my new intraday favourite - its been moving far better than even the EJ and spreads still only 0 5 - 0 8 of a pip more than EU and yet it can move over double and treble on a 15 min scalp compared to the EU
Updated chart
I have it morning session bullish above 5740 but need to break through Lits area and above 5800 to stay with scalp buys longer
Pullbacks going under 5735 and 25 would mean larger sells and back to more bear bias
9 22 am
Update
This pair as already retraced 100 + pips over last 3 hrs - after dropping 160 pips overnight after Aussie Dollar news
This pair as taken over as my new intraday favourite - its been moving far better than even the EJ and spreads still only 0 5 - 0 8 of a pip more than EU and yet it can move over double and treble on a 15 min scalp compared to the EU
Updated chart
I have it morning session bullish above 5740 but need to break through Lits area and above 5800 to stay with scalp buys longer
Pullbacks going under 5735 and 25 would mean larger sells and back to more bear bias
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UJ
9 55 am
A great pair to focus on this morning if you are a student of my method
There as been at least 5 nice scalps over the last 3+ hrs - with one worth over 25 pips and the others worth 7 to 17 pips
See chart
Last scalp buy was after 9 00 am as shown on chart - but we would need back above the LiTs area to stay with scalp buys - otherwise we will get reversals again back down to interim support area
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10 00am
2 main red news releases out today at 1 30 pm UK time - one on Cad dollar and other on the US dollar
Ideal pairs to check out for news would be the UCad - AU - EU and of course for me EA - even though it does not effect directly the EA - it will have a side effect if we get dollar weakness and Cad strength or opposites
2 main red news releases out today at 1 30 pm UK time - one on Cad dollar and other on the US dollar
Ideal pairs to check out for news would be the UCad - AU - EU and of course for me EA - even though it does not effect directly the EA - it will have a side effect if we get dollar weakness and Cad strength or opposites
Forexmospherian
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10 05 am
Update on EU
Last mention was a high of approx 1218
Since then its pulled back to 1199 and became a scalp buy again after 9 51 am and 10 00 am
For now its still above its morning LiTs area and still bullish - but unless we get over 1225 and 30 + - then we will just turn and test 1200 supports and lower at 1190 and 1180
Under 1180 and 70 we are in a bearish session structure and I would favour more sells down to 1150 or 1130 then
Update on EU
Last mention was a high of approx 1218
Since then its pulled back to 1199 and became a scalp buy again after 9 51 am and 10 00 am
For now its still above its morning LiTs area and still bullish - but unless we get over 1225 and 30 + - then we will just turn and test 1200 supports and lower at 1190 and 1180
Under 1180 and 70 we are in a bearish session structure and I would favour more sells down to 1150 or 1130 then
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EU
11 03 am
So far only made 1215 from 9 51am scalp buy
We need to breach over 1225 and 35 to stay with scalp buys
See chart for update
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