A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Its should be a break time now.
Today My pl is in negative 24. I feel bad..because i was positive. Still lots of practice required. I can understand it now. I happy that you are here to help & keeping patience.

Actually I will shift to a new place. That's currently during these process i run with a limited internet connection. Ctrader desktop version eats too much data. That's why I use Ctrader web version but no tick chart there.

I need to adjust everything...time to time..
Trying hard for it...

I am done today...This week its total loss. Hope next week something better will happen.

Have a nice day.

Hi Sun

I think you can see all what we need to improve with you - and its all doable - so dont worry

You should never ever go from 15 pips up to 19 pips down or so

You just stop at plus 2 or plus 7 etc and have 2 hrs off etc - not carry on it BTTZ tease areas trading - its a recipe for disaster

Also on scalping timing - we need to improve you so much

I got taken out 30% partial buy on GU when it turned down again - but my profit was in the 70% and so its no problem

I will say - I think the live account turned you into a different trader = and its not the one of before - when u were so disciplined

New week new month - lets get you back to where you should be - and LEARN another lesson today - stay in control and disciplined - not a loose cannon firing away at random

Regards


Peter

 

[Forexmospherian]

GU

10 40 AM

Whats another shame - the GU dropped 50 pips after a false move up

I only got 22 pips - after getting stopped out on 30% stake on buy

But - I bet Sun did not even enter the sell at any price under 4340 or 30 or even 25 ??

So the market out psyched you Sun - and really stopped you making proper pips

 

[Forexmospherian]

Timing

Sun had a sell on the GU at 4350

If she had a 12 or 15 pips stop - she would have made 30 -50 pips off the drop

Instead we work on super tight stops - but you must always know your LEVELS - so that when we get it wrong - we know thE prices to make the opposite scalp.

In this case under 42 and 38 was sell land and back well under the play levels - after the false rise to 60 -61

Sun - always plan your levels - never mind so much on targets - stay fluid - but know what prices are buys and what prices are sells in the structure

 

[Forexmospherian]

Yes GU until it breaks the 4339 area. No new sell.

You said it Sun - under 4339 - I had 4338 - but lets say under 36 to be safe

So you got it right - but was you in the sell down to now 4290 ??

I bet not - but its another great lesson to learn as already mentioned

I know you must BE so frustrated - LEarn from it - stay focused and in your trading zone

Regards


F

 

[Forexmospherian]

Eu up now 22 pips from after 10 00 am news - and no real play - not like false set up on GU

Back for lunchtime next

C U Later guys - GL


F

 

[sun11]

Logged in now, saw your all of your post. Well I keep tight stop otherwise how would i keep 5 pips avg loss. Yes I need to know my levels. So that I can able to take trade on extreme points & keeping things tight.
Saw GU, what a joke on me...really a lesson. After I leave GU moved 50 pips. Why ?? because every time i take trade during BTTZ zone...When I get completely finished inside it...market moves...

Next week, next month...i will have my revenge...lol...
Advance happy weekend.

 

[Forexmospherian]

Update on GU for 12 30 pm Friday

Back now for just 15 mins - but I said I would post an updated GU chart about 2 hrs ago after we did some scalps with Sun

The GU as not been easy this morning

A BTTZ tease zone was manufactured and then we had a false try up - before a 60 + pip rally down

Difficult and frustrating - but all followable and possible to make good profits even if you get a couple of scalps wrong during the session

Lets Look at the 1 Min LR Chart

I have marked on scalps etc and the false test with still a LH

Its been in a bearish price structure from after the Opens - as it started off early as bullish - but under 4360 that all changed

There was still a 20 pip retrace from a low before the 60 pip + drop and then another 35 pip bounce etc - so scalp buying opportunities even in bear land

 

[Forexmospherian]

EA - Last 5 + hrs and Morning Session

EA

6 45 am

1 Min Lr chart with 2 rectangle boxes - the big one is the LITs Area and the small one at bottom - possible support area

I posted this chart with a possible support

It worked - but it was not just an easy buy - it might have cost you one or 2 small losses before catching the big ride back up

Like 180 pips down and then 160+ pips back up - the EA does not hang about

 

[Forexmospherian]

Both US and Cad Dollar red news at 1 30 pm

Might be about - if not back after 2 30/ 45 pm for an hour or two

I hope you all have had a decent morning - its such a shame for Sun as she is so nearly there etc - but I do think she has now learned more and hopefully she can take it on board and benefit from it in February

Scalpers need patience and remember - we are not just scalpers - we are Intradayers - we want all moves from ideally 7 to 200 pips - but when we get it wrong take plus 1 or 2 but not allow yourself to lose minus 8 or minus 12 etc etc

Timing of entries is so key - even when you get it wrong you aim for b/e or small minus

But when you get it right - add to it milk it - get the stop in profit - and relax etc etc

Its not the easiest way to trade - but like anything - get the skills learnt and work on them and the results are so much superior to any simple method - ask Major M ;-)

 

[Forexmospherian]

1 46pm

Back for 10 mins

Then hope to be back later on after 3 30 pm or so

Noticed UCad fell with news

Also GU now down 100 pips from when it did a false try up

Cad was strong to take UCad lower - but dollar strong against EU and GU moving them both lower this last 30 mins

 

[Forexmospherian]

]EU

6 27 am


Start with this pair - LiTS @ approx 0935 to 50

So to recap - we are under both prices atm - saying we are in bear bias - favouring scalp sells

We can still have pull backs and scalp buys etc - BUT - they should stay under the LiTS
[/B]
If we see price make a move over 0935 and 0950 and get to say 55+ - the bias of the price structure as changed to bullish - you then look more and give preference to buys and expect price to try over 0960 and 0980 and even higher over 1000.

That might happen later - whether 2 hrs or 12 hrs - but for now under 0935 and 0950 - keep looking for scalp sells off retraces and look for price testing supports at 0900 area and under there 0890 and 0880

Hope that make sense etc

Will post a EU chart later on this morning

EU as stayed in a bear price structure all morning session and now dropped to 0865

See you later

 

[Forexmospherian]

4 00 pm Update

Just been earning of partials so far in US session

ie sells on EU / EA / GU

Its been a busy day - not an easy one because of so many 2 way moves on some pairs - but all followable for Intradayers

 

[Forexmospherian]

EU as stayed in a bear price structure all morning session and now dropped to 0865

See you later

EU

4 09pm

Now down at 0820 area - which is a support zone

Once we dropped under 0900 and 0880 then really its been all bear land so far

 

[Forexmospherian]

EA

4 11pm

Just been bouncing up and down in a 200 pip range really

3 good moves over 12 hrs - each one over 150 + minimum - now down back at the 5260 to 80 area as of pre Open times

 

[Forexmospherian]

Yes GU until it breaks the 4339 area. No new sell.

GU

Sun's comment from approx 6 hrs ago

We needed under 4339 to b/o of BTTZ zone after a false try up - and she got that right

Trouble is - she never left a sell on - and the stop she needed was just 3 or 5 pips

Now down over 175 pips from there

Another Lesson learnt on the journey - all part of trading - the good and the bad times - but as long as you learn from it - then its all going to be worth it in the future

 

[Forexmospherian]

EJ - Today

Hi K


Yes correct

it's a dynamic level - constantly changing when we have proper rallies - but more static pre opens when mainly pairs go into range mode first - allowing us to find level off a long flat LR - rather than one thats either angling up or down

With EJ now this morning at approx 6 00 am UK tiime - the Lits area got up to approx 130 00 area and price started then to fall under it prior to news in the night that weakened the yen - resulting in the EJ moving higher to over 132 00 +

As of now the LiTs area is approx 130 25 to 40 ish - so prices above there are still in a bull price structure for the morning session

Regards


F

EJ

I mentioned it at 6 00 am this morning and then did not really cover it through out the day

I have marked the 2 LITS areas of the day - basically buys up to 1 00 pm and then sells after 1 30 pm news

The chart is nice as we see the EJ go from a bullish PS to a Bearish PS this afternoon

 

[Raja1977]

EJ

I mentioned it at 6 00 am this morning and then did not really cover it through out the day

I have marked the 2 LITS areas of the day - basically buys up to 1 00 pm and then sells after 1 30 pm news

The chart is nice as we see the EJ go from a bullish PS to a Bearish PS this afternoon

hi Forexmospherian,

could you please explain one more time what is the basic of 30 min rule of trading. with simple example. it will be highly appreciated.

Regards
Raja

 

[NVP]

Hey all

Will try to get some trading in this week......save a space for me

N

 

[Forexmospherian]

hi Forexmospherian,

could you please explain one more time what is the basic of 30 min rule of trading. with simple example. it will be highly appreciated.

Regards
Raja

Hi Raja

No problem and will cover some examples tomorrow and in the new month

Basically any new interim high or low intraday that last over 30 + mins from a conception - more than likely with pullback or retrace more and if it then goes over 1 hr and still not made a new low or high - that shows a turn is being tried

Normally in a rally new lows or highs are made weill under 30 mins - ie every 5 or 10 or 15 mins - so if you get to 20 mins and you are say 15 or 20 pips away from the low or high - probability favours it will carry on rather than going to breach the low or high.

Its really another clue on catching high and lows - ie you scalp and as you know scalps normally might only last 3 to 15 mins and make 3 to 20 pips - but if you stay in the pullback / retrace over 20 then 30 mins - its showing a turn is being tried

You can have a low or high last say 45 mins - and then after 50 or 60 mins breach it - but if it goes on past an hour - again another clue to a larger turn

Whilst you are watching time - you do need also to see new HH and Hl's - or the opposite - ie LL's and LH's - again extra clues on the 1 min with time and LR's

Hope that helps

Regards

F

 

[Forexmospherian]

Hey all

Will try to get some trading in this week......save a space for me

N

Hi N

Yes new week and new month - so time to start off on a roll

I will be late in morning maybe after 7 00 am start and out again over LO hour

I hope you able to get more then 90 mins in etc - but then again - if that 6 - 6 30 to 8 30 am part session is good - then there's enough there to keep you happy

Have a good February - in fact Good Trading to all and lets make sure we all have a good month


Regards


F