My Journal - Pathways to Improvement

[NVP]

Thank you NVP for your input. You just answered one of my question & cleared a confusion.

Its just 5 days in scalping since the training. I know lots of bad days is going to come in future along with good days too (hopefully).
I will try my best to keep losses lower.

Best regards
S

Just 5 days scalping ?

Jees sun........you really have potential here and another Great student for F to mentor

N

 

[Forexmospherian]

Thank you NVP for your input. You just answered one of my question & cleared a confusion.

Its just 5 days in scalping since the training. I know lots of bad days is going to come in future along with good days too (hopefully).
I will try my best to keep losses lower.

Best regards
S

Hi Sun

Sunday evening in the UK and I will go through some of the points / tips for this next week.

I am pleased you realise you cannot become a good scalper just on taking 100 or 200 trades - even with a method that as been tested and proved for well over 8 years.

Many new scalpers may not have confidence in the methods they try -and so give up early after a few weeks or months. With my method I have already taken over 17k live trades using it - and i would think Major Magnum would have easily taken over 2000 live trades over this last 7 -8 months - even though he his not full time - but because he generally takes more trades a session than me.

After you have done 500 demo trades we will then go through all the improvements - so far I have checked last weeks statements and you seem to be carrying out the basics OK - ie just with 3 LRs - PA - KT's and time windows

This next few weeks we will introduce interim S & R levels - again obtainable from a 1 min chart - and i will give you examples - as just scalping for 3 -5 pips is different to cherry picking KT's with key interim levels along with the LR's lining up on multi FX pairs - with what I call scalps in "sync"

Timing become critical but you will start to acquire this skill every week you continue

These will be the trades that give you larger wins

A great example on Friday afternoon was at 3 21pm UK time on many FX pairs - example to follow

21 mins past the hr is a KT and start of the half hr TW

Also please check out another thread on T2W - an old one not by me but shows how my method as taken this idea to a new more accurate level

http://www.trade2win.com/boards/technical-analysis/13451-1-2-3-formations-ross-hooks.html

The concept is good but can be improved by the time concept and time rules

I will explain more about that as we progress but the 1 2 3 formation is a pattern we see lots of times on the 1 min charts as you will find out.

Ok will post some examples from Friday afternoon I have mentioned from 3 21 pm

I dont want to just give you new trades - I want you to see what i look for in advance of the KT etc etc

This one is a great example along with my comments prior to the move

Any questions and queries you have through out your session - etc - please post - I may not get back to you within 30 mins or so all the while - but certainly have no problem multi tasking on 2 threads along with intraday trading 4 -6 pairs every session - and thats without the trades with part stakes and with stops already in profits that dont require so much baby sitting

Have a great week - you own pace - no pressures

Good Trading and Good luck

Regards

F

 

[Forexmospherian]

Example for Sun from Friday afternoon on EU

Hi Sun

Mentioned in previous post about 1 2 3 patterns along with time and a great example on Friday afternoon on several FX pairs

I have chosen the EU to show you what I mean

For now - i dont want to expect you to be able to catch moves like these - simply because you are at stage 1 in many stages of my method journey - learning to scalp and getting your timing correct

I posted this in real live time on Friday afternoon from 3 24 pm - actually 3 mins after I entered my first scalp buy at 2 21 pm - and then eventual 1 2 3 pattern move finished for me after 5 21 pm ( UK time) -over 3 hrs later and up over 100 pips - but my fans tell me i cannot count this as a live call in advance - as 3 mins late - even the buy move carried on for approx 3 hrs ( lol)

Note the time stamps ( UK time )

EU

2 59 PM

IF we stay above 0865/6 then we need to see over 79 and 82 to stay with scalp buys longer

3 01 pm

EU

3 04pm

The key now is staying above 0871/2 on pullbacks for more buys

Under 66 and 60 i would be selling again

This is my 1 min LR chart with 3 Key times

You are only using 3 fast Lr's for scalping - but this will over then next 4 to 8 weeks move on to the full method - not just the scalping part

Any questions - please just ask etc

 

[sun11]

Just 5 days scalping ?

Jees sun........you really have potential here and another Great student for F to mentor

N

Hi NVP,

Its too early to say ....Lets see for more few weeks.

Regards
S

 

[sun11]

Hi F,
Good morning...

I already knew about the Ross Hook. I have a book on it.
Thank you for sharing the detailed example of the trade. Also the threads. I study it & will try to apply it on the trading.

I have question, more like a confusion. If through out the day, i didn't find answer by myself then I will post about it today.

Happy Trading,
Best regards
S

 

[Forexmospherian]

Hi F,
Good morning...

I already knew about the Ross Hook. I have a book on it.
Thank you for sharing the detailed example of the trade. Also the threads. I study it & will try to apply it on the trading.

I have question, more like a confusion. If through out the day, i didn't find answer by myself then I will post about it today.

Happy Trading,
Best regards
S

Have a good session Sun - and well done spotting UJ scalp buy - I missed it

catch up with you later

 

[sun11]

Day 6

Have a good session Sun - and well done spotting UJ scalp buy - I missed it

catch up with you later

Hi Forexmospherian,

I find some difficulties with GU. Its very volatile pair. During these times, I have notice every time I open trades, by default it moves -2 to -3 pips. Most of the time it takes -10 pips so easily & very fast. Specially for GU 20 pips hard stop is really reasonable.

But what if I'm wrong in spotting the entry, then have to digest that -10 pip loss.

Is there any alternative pair that I can use instead of GU. You already mentioned about EJ, I can trade EJ, hopefully less volatile.

Today result:
Total trade : 25
P/L = 3.9 pips (3.4 including commission)
Win rate: 60%
Largest win : 5.7 pips
Largest loss: 4.9 pips.

Today trading was real pain. Because of net connection. I was trading from a remote place. I miss some profit because of slow closing.

Good day...
Regards
S

 

[NVP]

Hi Forexmospherian,

I find some difficulties with GU. Its very volatile pair. During these times, I have notice every time I open trades, by default it moves -2 to -3 pips. Most of the time it takes -10 pips so easily & very fast. Specially for GU 20 pips hard stop is really reasonable.

But what if I'm wrong in spotting the entry, then have to digest that -10 pip loss.

Is there any alternative pair that I can use instead of GU. You already mentioned about EJ, I can trade EJ, hopefully less volatile.


View attachment 196264

Today trading was real pain. Because of net connection. I was trading from a remote place. I miss some profit because of slow closing.

Good day...
Regards
S

remember that traders seek momentum and volatility in pairs ..........wihout it we do not get the pip returns we need ..........

for me there are 2 currencies that can really accelerate ........... the gbp and the Yen ............the cad sometimes can move as well........and also the NZD .......but generally you will see the euro, usd , AUD and chf all operating in slower gears to these characters (just my opinion after many years of studying individual currencies and behaviours)

from this you will note that EU as a pair therefore has 2 slower characters involved.............that's its strength and also its weakness...........slow death on a poor trading decisions made and usually slow progress as well on a winner .....

in a way the EU is a good pair for relative beginners to scalp.............low spreads and you will normally have time to get out after 2-3 pip losses............but it wont pay the rent on its own in the long term

GU is a nice pair to trade .............BUT the gbp is a devil ..............hence our comment about getting out quickly S .........you will know you are wrong on GU inside 1-2 minutes ...............it will bite you hard so to get out in under 2-3 pips loss needs practice

BUT

if yo get it right you can rack up 15-20+ pips in 2-3 minutes............if you can control the beast it will get you close to your basic targets most days in just 2-3 good trades - unlike EU for example

the EJ also contains one of the sprinters in the G8............so be carefull..............its another tiger in the tail

Ucad actually isn't a bad pair to trade and will usually complement the EU ...I have Ucad in my trading team as it offers variety and excludes Europeans which is what I usually hunt .............an alternative if Europe is quiet.....

back to F :smart:
N

 

[Forexmospherian]

Good Morning Sun

Busy last 45 mins

Have a good day and carry on improving your timing

Catch up in a bit

Regards


F

 

[sun11]

Thank you NVP for details on the currencies.

I will try to tame the devil GU.
But first need to improve my entries with others.

 

[sun11]

Good Morning Sun

Busy last 45 mins

Have a good day and carry on improving your timing

Catch up in a bit

Regards


F

Hi F,
Today missed some moves on EU. It was one directional Up. UJ one directional down. Hope you made lots of pips over there.

I will post my results at end of the day...
Happy Trading.

 

[sun11]

Ross Hook Indicator

Last trade was quick 3 pips on UJ.
Was testing with a rose hook indicator.

Though it seems its repainting.

 

[Forexmospherian]

Last trade was quick 3 pips on UJ.
Was testing with a rose hook indicator.
View attachment 196316
Though it seems its repainting.

Nice Sun

Hows it been going?

There as been some tricks and manipulation play been going on today - trying to catch intraday traders out

Stay focused and calm and keep your disciplines etcetc

I am out for an hour or two but back later

Look forward to seeing how its been going later

All the best

F

 

[sun11]

Day 7

Thanks F,
Today Results as follows:

No. Trade: 25
P/L = Around + 5 pips
Largest win : 2.8
largest loss: 4.1
Win rate: 72%

Lesson Today: Never make early entry

One thing I did today is didn't waited for 3 pips profit. As the price moved fast in my favour, I closed it & may be that's why win rate of was higher.

I don't know its good or bad... only you can tell..

I find following settings are best performer:

• BUY: Slow LR is Green + Candle closes above slow LR + two fast LR just crossed & PA stays above.
  
• Vice Viz for Sell.

Lastly, want to ask a silly question: What is the full form of the following?
KT & BTTZ

 

[Forexmospherian]

Thanks F,
Today Results as follows:





One thing I did today is didn't waited for 3 pips profit. As the price moved fast in my favour, I closed it & may be that's why win rate of was higher.

I don't know its good or bad... only you can tell..

I find following settings are best performer:

• BUY: Slow LR is Green + Candle closes above slow LR + two fast LR just crossed & PA stays above.
  
• Vice Viz for Sell.

Lastly, want to ask a silly question: What is the full form of the following?
KT & BTTZ

Well Done again Sun

Will go through it all a bit later on

Excellent win ratio - 72%

KT - thats a Key Time - ie like say 2 21 pm or 3 00 / 01 pm

BTTZ - Bermuda Triangle Tease Zone - Price enters it - and then its a lottery - you just dont know when its going to come out tight range and whether up or down - as it being played with etcetc

Regards


F

 

[Forexmospherian]

Hi Sun

Glad you stuck more with UJ and UCad today - the GU was not easy PA - although good for scalping - but you need spread under 1.2 pips

We have news on GU tomorrow at 9 30 am UK time

Will be started after 6 00 am - out for 40 mins after 7 30 am and then around for most of morning

Away on Thursday for a week - but will leave you some homework etc - so for you to carry on improving your timing and scalping etc etc

Glad you are finding out some of your own tips etc to assist you etc - I am sure you are discovering more clues and ideas every day to assist you get some key entries on all pairs.

When we are happy more with your timings - we can then filter out many small scalps under 2 pips - and introduce a 4th LR and then staying with same stop sizes move up to the 5 to 10 pip scalps targets.

After that in next month or so - its on to leaving part stakes on "sync turn scalps - and cherry picking under 20 trades a full day with the idea of 14 + winners - 3 or 4 good runners over 15 pips - 5 or less losers all under 5 pips

Its takes months and months to get there - and then years to perfect it - but if anyone can help you get there - its me

All the best and have another good day tomorrow

Regards

F

 

[sun11]

Hi F, Good morning.

Thank you for your feed back.

I will keep posted my results & will be doing my homework in your absence.

P.S: BTTZ, I really like this name...)

Happy Trading

 

[sun11]

Day 8

I'm closing early today..need to go somewhere plus I'm out of trading quotas.

No. Trade: 25
PL: 16.5 pips
Win Rate: 80%
Largest Win: 5.2
Largest loss: 3.2

In last hour I have made many scalping which was not part of the plan. I was just scalping as there were lots of opportunities.
Need to keep track on that. Over trading is not good.

Today in generally market was favourable. Today 1st time I made 70% win rate in a binary option competition. Though I'm still far away in ranking. But still.....

F, hope you will enjoy your holiday...see you soon, when you get back.
In the mean time, I will keep posted my results.

Good day....

 

[Forexmospherian]

I'm closing early today..need to go somewhere plus I'm out of trading quotas.



In last hour I have made many scalping which was not part of the plan. I was just scalping as there were lots of opportunities.
Need to keep track on that. Over trading is not good.

Today in generally market was favourable. Today 1st time I made 70% win rate in a binary option competition. Though I'm still far away in ranking. But still.....

F, hope you will enjoy your holiday...see you soon, when you get back.
In the mean time, I will keep posted my results.

Good day....

Well Done Sun

Keep that up - your timing is improving

Not going to lunchtime tomorrow

Will leave you some homework etc and check through your stats

I am seeing good improvements

You will have relapses and odd bad sessions - but you will carry on improving

Then its stage 2 and over next few months another 3 more stages etc etc

Its step by step and then getting to the whole package

Catch up later on

Thanks for being a great student as well

Regards

F

 

[Forexmospherian]

Hi Sun

Plan for you next week

1 - keep to the basic scalp plan with tight stops and small targets to improve timing and matching PA with LR's and KT's in time windows

2. Dont worry if you do just 15 trades in a day - or 30 +. Try and pace yourself and also look for larger moves when 2 or 3 pairs all "sync" with a change in direction exactly at same time

3. Then for this weekend and in the week read the other 2 threads on consistent intraday profits and the devil in detail etc to pick up more tips.

4. Everyday check your calendar and see which pairs might be flavour of session - ie like when UK pound news in mornings etc

5. Try and correlate the AU more with UCad on opposite moves and even though you dont do EJ - look out for when its moving in same direction bias as UJ

6 remember normally every session lasting over 5 hrs you will get a BTTZ tease time - try and stay out for 30 -60 mins or scalp another pair

7. Feel free to post on my thread next week and i am sure NVP and Major M would assist etc on any questions etc etc

8. You are still very early in the journey stages - but going well to plan - dont worry if you have an off session or two along the way - just keep those stops tight - its half the battle to end up with a positive day when you take over 15 + trades

I wish you well and hope to catch up next Thursday afternoon / Friday AM


Regards


F