A Master Class in FX Intraday Trading by F & Co

[sun11]

yes gain 10 pips with GU.
Sort of head & shoulder pattern.

 

[Forexmospherian]

GU

8 58 am

Failed to keep a partial sell from 7 51 am scalp sell - but added another scalp sell on way down

So far dropped 35 pips from its high and bounces staying under 5030/31 are sells again after any retraces

 

[Forexmospherian]

yes gain 10 pips with GU.
Sort of head & shoulder pattern.
View attachment 207488

Excellent - WD Sun

 

[zhrg]

Hi Z

Certainly try and help you on your FX intraday trading journey - no problem there and with you setting yourself a goal of 3 months - that should be interesting.

A couple of questions -

What UK times are you planning to trade - or have available on a daily basis ?

What's your FX trading background - any particular methods you have already tried and at one level and for how long have your tried on a live account etc ?

Have you already read my other threads etc ?

Regards

F

Morning

Winter finally came, day started shoveling snow. Today I will start Uk 9:00 for 3-4 hours.

Time available: Usually UK open for 3-4 hours and then 2-3 hours after lunch. Mondays and fridays I have the most running around so times on those days can change.

Second question: Right now I am on a demo account, after blowing a way 6.000eur I want to get some confidence before I take it live. I have tried various methods, hedging, swing (little patience for that), some scalping. I consider my self a scalper (just my personality).

I think I over the last 2 weeks I have read between 90-100% of all that you have written here on T2W.

Regards
Z

 

[Forexmospherian]

UJ

9 01 AM

So far stopped before the big round number at 123 00 - still scalp bullish on pullbacks staying above 87/89 area

 

[zhrg]

Morning

Winter finally came, day started shoveling snow. Today I will start Uk 9:00 for 3-4 hours.

Time available: Usually UK open for 3-4 hours and then 2-3 hours after lunch. Mondays and fridays I have the most running around so times on those days can change.

Second question: Right now I am on a demo account, after blowing a way 6.000eur I want to get some confidence before I take it live. I have tried various methods, hedging, swing (little patience for that), some scalping. I consider my self a scalper (just my personality).

I think I over the last 2 weeks I have read between 90-100% of all that you have written here on T2W.

Regards
Z

What pairs would you recommend today?

Z

 

[sun11]

GU

8 58 am

Failed to keep a partial sell from 7 51 am scalp sell - but added another scalp sell on way down

So far dropped 35 pips from its high and bounces staying under 5030/31 are sells again after any retraces

I think now I understand how actually trade around the Lits area.
Longer LR & Old bottom is over there...30 zone.

 

[Forexmospherian]

Morning

Winter finally came, day started shoveling snow. Today I will start Uk 9:00 for 3-4 hours.

Time available: Usually UK open for 3-4 hours and then 2-3 hours after lunch. Mondays and fridays I have the most running around so times on those days can change.

Second question: Right now I am on a demo account, after blowing a way 6.000eur I want to get some confidence before I take it live. I have tried various methods, hedging, swing (little patience for that), some scalping. I consider my self a scalper (just my personality).

I think I over the last 2 weeks I have read between 90-100% of all that you have written here on T2W.

Regards
Z

Hi Z

so really you have over 4 hrs plus of peak time session to intraday trade - thats good for a start - was worried you might only have a bad time to trade etc

Good - if your personality suits scalping - although - patience still needed and of course good discipline - thats really important

Even I still find it frustrating to take a loss at say 2 pips - and then see it only falls another 3 pips and goes my way - but I have got used to accepting I will never be 100% correct - anything from 65 to 80% and then you can make great rewards

OK - well will highlight later on some of the key parts

Also first month or so - stay with demo before going on a very small live account ( micro lots) to test your emotions etc again

GL - and we will do our best etc to make it all make sense ( well most of the time ;-) )


Regards


F

 

[Forexmospherian]

9 14 am

That's it for me for a bit

Made well over my daily target now - courtesy of the EA / EU / GU - and even made some pips on the UJ scalp buy.

Not finished for day - plan to pop back before lunchtime and then a couple of hrs this afternoon

Please feel free to post any charts and FX comments etc etc

Not to bad a Monday really I suppose

See you a bit later


F

 

[Forexmospherian]

I think now I understand how actually trade around the Lits area.
Longer LR & Old bottom is over there...30 zone.

It will take time - but that's good Sun

The longer Lrs and the 30 mi time rules etc all work together to help build you a picture - and of course the correlations of the pairs strength etc etc

Hope you had a decent morning

See you later

Regards


F

 

[Forexmospherian]

What pairs would you recommend today?

Z

Difficult for now as after Lunch it might change again

For Opens - always consider the EU and GU - then look what the Yen crosses and Aussie was doing over the asian session

With AU having a bit of strength this morning it meant EA and GA were good sell - but dont advise the beasts of GA / GJ etc yet - maybe after a couple of months

Never been too keen on EG or NU etc - but thats just me and always preferred the EJ to UJ - etc - but really every session can offer different opportunities - so try and major on 2 or 3 pairs whilst keeping an eye on correlations of say 6 or 8 pairs.

By doing that you are giving yourself more chance of catching some good moves

F

 

[Forexmospherian]

1 45 pm

Best scalp buy this last hour as been the GU

Its just topped at 1 39 / 40 pm and for scalpers became a quick scalp sell

The move up started at 12 55 pm - 12 51 pm was still a sell - and the up rally was worth approx 30 pips

 

[Forexmospherian]

GU

1 49pm

Ideally - I would like to scalp buy it again now above 5010 / 12 area

 

[Forexmospherian]

GA & EA - Both sells with Traffic light sequence - under LiTs

I am going to show the GA chart - even though it was the EA I first started selling this morning pre Opens

Both have now fallen well over the last 7 + hrs

The GA and the EA were under their respective LiTs area for session bias for the Opens

I am not wanting to provide the LiTs now for main key pairs every morning - as would prefer any students of the method to try and work out the area themselves etc and also then look for the correct bias set ups.

In this case the Aussie Dollar as been stronger than the Pound and Euro - and the AU as risen more than the GU and EU

1 min LR Chart set up

 

[Forexmospherian]

GU - US session set up

1 45 pm

Best scalp buy this last hour as been the GU

Its just topped at 1 39 / 40 pm and for scalpers became a quick scalp sell

The move up started at 12 55 pm - 12 51 pm was still a sell - and the up rally was worth approx 30 pips

GU

1 49pm

Ideally - I would like to scalp buy it again now above 5010 / 12 area

GU

2 07 pm

So far the sell from 1 39 / 40 pm as dropped 16 pips and so far its trying to turn up again from 5014 .

I wanted to scalp buy again above 5010 / 12 area - so accept 14 /15 as a scalp buy

Trouble is now we need to breach last high around 32/33 within next 10 mins or so - and if not - it will pullback into range again

 

[sun11]

EU is boxed around a long term LR. Hope it reaches 594

 

[Forexmospherian]

GU

2 17 pm

This is a tricky one on the GU now - as time rules say GU should not make a new high above 33 / 34 now

But as we know - nothing in this game is 100% - its all about the probability and the number of clues favouring buys or sells

So far from just before 1 pm we have had a 30 pip scalp buy - a 15 pips scalp sell and now another atm 13 pip scalp buy - all under 90 mins

I am out again in 10 mins but hope to be back after 3 30 / 4 00 pm

 

[Forexmospherian]

EU is boxed around a long term LR. Hope it reaches 594

Hi Sun

Your trading later on today - I hope you have caught some decent moves etc

EU - Its scalp bullish above 0576 - but does need over 0595 and 0602 to stay with buys

It might try - 30 min time rules favour a pull back but then if we go over 50 + mins then we could try above the LH - again like GU a difficult set up atm - even though both favour higher

GL

 

[sun11]

Hi Sun

Your trading later on today - I hope you have caught some decent moves etc

EU - Its scalp bullish above 0576 - but does need over 0595 and 0602 to stay with buys

It might try - 30 min time rules favour a pull back but then if we go over 50 + mins then we could try above the LH - again like GU a difficult set up atm - even though both favour higher

GL

Yes trading late today...Holding it but very confusing & bad range in EU. I think I enter in a very bad place...

Let see...

Thank you.

 

[Forexmospherian]

4 25 pm

Back for 15 mins so an update

EA - GA - AU all gone to plan - ie Aussie dollar stronger then US dollar / euro / Pound resulting in AU rising over the main session and EA and GA falling

EA as fallen over 150+ pips from my first scalp sell of the day - unfortunately did not leave a partial stake on until another scalp sell later on

GU as continued to rise this afternoon - whilst the EU failed to make over 0595 / 0600 - and now fallen again to 0555 area.

Hope you too have had a decent day

Regards

F