A Master Class in FX Intraday Trading by F & Co

Status
Not open for further replies.
keen246 said:
Thanks F for your reply. I find the time rule very interesting.
The confirmation on a tick chart of 0.5-2 pips you talk about is basically observing HH-HLs in a possible up move (opposite for down moves), or what other clue you can observe on the tick chart? I find it hard to follow the tick chart and get clues as to next possible price movements. I'm getting better at it on the M1, though.

Cheers,
K
Click to expand...

I can remember first going to a tick chart year ago after only about 6 months on a 1 minute. At that time the 1 min was still quick and even frightened me at times - as I had been used to a 30 min and hour chart before then ( this is like 9 -10 yrs ago)

Then like you will find out after about a year using the 1 min all the while for entries - it all started to slow down and I got used to the moves

I reckon you would need a few months on a tick chart to really get used to it - and it does have advantages over the 1 min on many sessions

Today that EU scalp buy was OK off the 1 minute - but I felt safer seeing the price structure bias turns happening on the tick chart - rather than thinking - what am I doing buying into a runaway train that had dropped over 45 + pips

I appreciate these methods are not the easiest ways to trade - but once you develop the skills - then the rewards and consistency can be well worth the pain in getting there


(y)
 
hi Forexmospherian,

I have been following your thread for a while. Great thread. Lots of intra-day posts, and pre-market analysis, Also, for helping sun11 along. Very patient!

Suppose you had two currencies that are considered correlated.
Do you take both signals, knowing it may be seen as the same as a double-sized trade on 1 currency?

Conversely, if you have two correlated currencies, and you get conflicting signals. (a buy on one, and a sell on another). Does that spook you? Or, do you take each signal in isolation, irrespective of other signals?

PS: thanks for posting about EURAUD! Its my new favourite, after Dax and EJ.
 
trendie said:
hi Forexmospherian,

I have been following your thread for a while. Great thread. Lots of intra-day posts, and pre-market analysis, Also, for helping sun11 along. Very patient!

Suppose you had two currencies that are considered correlated.
Do you take both signals, knowing it may be seen as the same as a double-sized trade on 1 currency?

Conversely, if you have two correlated currencies, and you get conflicting signals. (a buy on one, and a sell on another). Does that spook you? Or, do you take each signal in isolation, irrespective of other signals?

PS: thanks for posting about EURAUD! Its my new favourite, after Dax and EJ.
Click to expand...

Hi Trendie

Re - yes with scalping even if positive correlated I will try and scalp both pairs - as one might have better PA and move quicker and other pair might be slower - but maybe even a better set up

In the old days I used to look for a weak dollar and Uchf falling and then scalp buy the EU / GU / AU - or at least 2 of the 3 .

Nowadays the EU and GU dont seem to be correlated so much - but Its only been the last 2 years I have really got into the EA - and it being normally oppositely correlated with AU - although that pair might only move a fifth or less than the EA beast.

If I am scalping 2 or 3 pairs - I do like to get at least one or more into a position with the stop in 1 or 2 pips of profit so that I am not so exposed and then will play with taking 100% stake off a as a pure scalp after say 5 -15 pips whilst on the other pair I might only take 70% stake off and try and leave 30% on to hopefully catch the best of both worlds - ie immediate gain - but possibility of catching a longer run

When scalping 2 or 3 pairs only 0 3% stake size whereas on one pair like the GU - i might risk up to 1% stake - I would only risk 1 % stakes size on 2 or 3 pairs if I was on a small account and trying to grow it quickly etc - knowing if I got it wrong - its still only small money - rather than say $250 on one loss on a 0 5% loss on larger capital

I have many times sold the EA and bought the AU - or sold EU and bought Uchf even in the past - but nowadays I am tending to focus less than 4 pairs with the EA a major - and even the GA when its a Pound news day as that is also a great mover.

Even if I enter 2 opposite scalps trades and I get it wrong - normally I can either get a few pips or get out of one before losing over 5 pips and stagger entries so that the second scalp is only started after the first scalp as gone into a few pips of profit

Glad you are enjoying the thread - sorry only do FX - as not got a clue on other instruments etc - but if there are any other FX pairs you are interested in etc - let me know and I can tell you what I am seeing etc etc

Good Trading

Regards

F
 
Lots still going on with EA and EJ and also GU failed at trying to make back over 4480

Very busy day really - although both news events did not seem to have immediate effects etc

Second dog walk of the day next before it starts getting dark

Will pop in later - and I hope you all have been able to make some positive pips today - whether 30 or 300 + - as long as they are in the black and a profit ;-)
 
Sorry gang never got back in saddle today.....may try 6am tomorrow

N
 
Friday 12th February 2016 - Pre Opens

Good Morning Guys

Last day of this very busy trading week - shame I have missed quite a few great moves not being around at my desk - but still not done to bad at all of already beating my 50 pips a day and 250 pips per week targets.

For this morning here for approximately and hour - and then hope to get at least another 90 mins in before Lunchtime - and the odd hour or two in the US session

We have some red EU news at the EO at 7 00 am and then more red news at 1 30 pm and 3 00 pm

Its approx 6 30 am and already from approx 6 00 am I have 2 nice opposite direction scalps complted on the EA and the EJ - check them out and yes not quite made my Friday target already - Great start to the day

(y)

Please feel free to comment etc - charts - calls - questions - ideas etc

Stay Focused - and have a great day.


F
 
EA

6 36 am

Was not around to start scalp buying at 5 30 am - but joined in around 6 00 am to see move up approx 50 pips - but made a mistake - wanted to takes 70% profit at 5940 and leave 30% on for a bit longer and instead exited 100%

The EA needs to stay above supports at 5860 and 80 to remain in a Lit's area favouring bulls in terms of session price structure - especially if we can move up back to the 6000 area
 
EJ

6 40am

Been a sell from 4 00 am time and its already dropped 100 pips in under 3 hrs - but I only joined in from approx 6 00 am again

126 65 - 80 is a support area next - but for now still bearish - needing a bounce back above 127 25 and 35 to have any chance of a turn going on for going back into bull land
 
GU

6 46am

Trying to turn back up from 4460 area with scalp buys favoured after 6 00 - even though PA is not ideal with waves within waves going on - making it difficult to get an easy smooth buy

Really would only look at holding sells on under 4460 and 50
 
EU

6 50am

1375/6 high yesterday afternoon / evening and since then a pullback under 1300 down to so far 1294 area

For me now - above 1335 and 45 - then bullish and would be buying more

Under there favours sells with obvious interim supports at 1300 - 1280 - 1260 - 1240 etc

If a supports hold - preferably over 30+ mins - and then 1 hr plus - look then more for buys again

The EU is a great teaser and not the easiest pair to intraday - simply because of all the play and manipulation

Ideally we need to stay above 1160 and 1200 to be with a chance of trying above 1400 +

Therefore 1180 - 1200 to 1350 say -is the main range - ie 150 -170 pips to play in - that's a lot for EU

Ok news in 7 mins or so

Back after 7 05 am
 
morning all .............trading since 6am

heres where we are

BUYS - yen ....that's it !!!
SELLS - initially the aud and NZD from 6am ............more recently usd .....euro

so here we are ...most of my mony made on Yen pairs and a really nice EA

at present 3 big paeir plays

EA buys (again now)
EJ sells
UJ sells


N
 
NVP said:
morning all .............trading since 6am

heres where we are

BUYS - yen ....that's it !!!
SELLS - initially the aud and NZD from 6am ............more recently usd .....euro

so here we are ...most of my mony made on Yen pairs and a really nice EA

at present 3 big paeir plays

EA buys (again now)
EJ sells
UJ sells


N
Click to expand...

superb moves last few mins again (y)
 

Attachments

  • 3 scalps.JPG
    3 scalps.JPG
    109 KB · Views: 104
Forexmospherian said:
EJ

6 40am

Been a sell from 4 00 am time and its already dropped 100 pips in under 3 hrs - but I only joined in from approx 6 00 am again

126 65 - 80 is a support area next - but for now still bearish - needing a bounce back above 127 25 and 35 to have any chance of a turn going on for going back into bull land
Click to expand...

ej and UJ excellent today F ........yen has been to 60+ pips from 6am twice now

also cracking EA today ...;)
 
7 08 AM

EU

Been a buy after 6 39 am and 6 50 am - but risky then for 7 00 am news on EU - - which as been positive so far taking it up to 1323 so far

As mentioned already - I need over 1335 and 45 to hold buys on longer as above there was are favouring a try of 1375 etc

Under 1300 - 1280 - 1260 - 1240 - etc - then thats more for sells

My tick charts are saying to stay with scalp buys - we need pullbacks to stay above 1310 to buy again
 
NVP said:
ej and UJ excellent today F ........yen has been to 60+ pips from 6am twice now

also cracking EA today ...;)
Click to expand...


Morning N

Yes my first 2 trades of the day were on EA and EJ - opposite scalps at time - but both been great movers for 10 -20 min scalps

If you can crack EA and GA - then 2 other great pairs - that move well and are not manipulated as much as the EU and GU

Have a good session


Regards


F
 
EA

7 15 am

I had this pair as a scalp sell after 7 00 am news under 5940

supports 5885/ 90 - so bounce then could be another scalp buy
 
ok gang ..............gotta scoot early today

my 3 lead scalps at this moment are

RESELL UJ when it bounces
SELL UCAD ...warming up
BUY GU ...warming up

later
N
 
Status
Not open for further replies.

Similar threads

F
F's "Devil in the Detail" Intraday FX Trading Journal 2015
2 3 4
Replies
67
Views
20K
Forexmospherian
F
F
Question to T2W Staff or Moderators
Replies
11
Views
3K
Forexmospherian
F
f2calv
  • Locked
thread closure 'Master class in hind site trading'
Replies
10
Views
7K
Trader333
Trader333
W
  • Locked
Master class in hind site trading
49 50 51
Replies
1K
Views
134K
Sharky
Sharky
T
Intraday FX Data Required
Replies
3
Views
3K
Trdr
T
Top