A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Great example over this last 90 mins of scalp timings and decision making on the GU

I have been using a 1 min chart for over 13 years - and maybe a tick chart off and on for about 9 -10 yrs - all depending on the market movements and the volatility etc

During that time I have tried and tested at least 7 different platforms and brokers and of course different tick charts - some based purely on time - ie a 5 sec or 10 second tick chart - others like the ctrader platform - based on number of ticks

I remember whilst assisting Major Magnum on his journey trying my method playing with 4 of the ctrader tick charts - all at different settings - out of the 13 different tick settings

Only this last month I have been trying some different settings again - and now the t4 setting is my new favourite

Its so accurate with the LRs and the timing - far better than a 1 minute in many circumstances

I am posting 3 great examples this afternoon on the tick chart for the GU

For me its partly the nearest thing to the "holy grail" for short term intraday trading - I know it will never be 100% accurate - but as long as you are patient and controlled with timing - normally needing 3 to 6 mins to see the clues in a time window - its giving me over 80% accuracy for 7+ pips on normal pairs and 15 pips plus on the bigger movers

The trouble is with tick charts - you lose the bigger picture - ie last 6 hrs or even 10 hrs plus sometimes this can go against you

Its a weakness for charting - and I am sure the industry know this - ideally I want a tick chart that will cover at least 12 -15 hrs of past on a full screen - not just 2 or 4 hrs

Anyway - note in the rectangles the PA - ie HL's and HH's - or opposite - these work the same as on a 1 hr of 4 hrs chart - but the change can happen within a few minutes - not like 2 or 4 hrs needed on the bigger frames

Nice scalps - lovely LR set up - in time windows and even with key times

Heaven ;-))

GU

Friday afternoon

I marked on the tick chart a scalp buy as last comment - to the right and bottom of chart near the low

I did not come back later on as popped out for early evening meal - but the scalp ended up going up over 140 pips

No I did not keep my scalp stake on all afternnon / evening - dropped to partial 30 stake with stop in profit and left

A great end to another great week

Who says you cannot catch bottoms and tops on a daily basis with tight stops of normally only 3 to 7 pips depending on the FX pair ??




Obviously some traders or trainers / teachers who are not that skillful

I said i would also show the 1 min on that GU move so will try and post that later on

Enjoy the rest of your relaxing Sunday ;-))

Regards


F

 

[sun11]

Hi Sun
#
Sorry missed this comment earlier when I had left

I reckon I am just not explaining myself clearly and certain confusing you even more - simply because I can see you are not understanding what i am try ing to say

Please - never think you cannot trade at say 5 am or 6 am or 7 am UK time - thats not what at I said

What I did say was - always make sure you are about and not out the game for the London Open hour - ie 8 am to 9 am UK time

If you remember - many times you had taken 5 or even 10 scalps pre 7 30 am UK time and ended up over 20 pips down and so finished for the session - as you could not risk losing more.

However - if you had controlled yourself and your financial emotion and said I dont want to lose more than say 12 pips before 8 00 am then -

Some mornings from say after 5 am to 7 30am - you might take 10 scalps - have only 3 wrong and still be up 25+ pips

If you have 2 or 3 winning scalps and make say 13 pips - only risk 7 pips on new scalps up to 8 00 am

So if you you take another scalp and win 5 pips - carry on

If you take 2 scalps and lose 7 pips - stop

I am not sure you are with me ??

Its dynamic money management awaiting for after the London Open - as normally say after 7 45 - 8 00 am to 9 00 or 9 15 an -is better larger moves than sy 5 00 am to 6 30 am

Not always - but maybe over 70% of the time

You want to cherry pick the best times and opportunties to trade to get 10 -20 pip scalps + in under 15 mins

Not scalp in BTTZ times and areas and see a 4 pip rise over 15 mins go 7 pip the other way in 2 mins

Please tell me if you understand me OK - or if I have confused you more

If you have 5 scalps and first 2 winners - the a loss and then awin and then aloss - you should still be pip and cash positive

If you take 5 scalps and first 2 are losses - be careful because if third scalp a loss - you stop for 30 or 60 mins to another part of session

You need to always be dynamic and flexible

Never rigid or fixed with fixed targets or fixed assumption - oTher than never let you stops go over 5 or 7 pips and if you can get out minus 3 take it - don't wait for minus 6

I also think I have confused you as well on some parts of scalping - and this might be hindering you - and then its not your errors - its me not explaining clear enough


Regards


Pete

Sorry I checked your post now. No you are not confusing me. It's easily explained.
I got it what you said about dynamic money management & staying fluid.
Thank you for sharing excellent examples about it. Noted on my journal. This way I can limit my impulsive trade.

About 10+ loss, it sometimes happens with EA & GU . As sometimes I give it some room to deal with the sudden spikes. But yes this is bad on RR. So now on i will put hard stop at 7 with those pairs.
That's the only way of doing it. If it fails it fails, I can restart later, rather than holding it & risking too much.

Regards
S.

 

[Forexmospherian]

Monday 22nd February 2016 - Pre - European Open

Good Morning FX Intraday Traders

Hope you had a great weekend and also hope if you took a GU buy on Friday afternoon - you either completely exited before US close - or at least moved yout stop well up into a good profit. The reasoning being - it gapped down over 100 pips at Open last night - a big gap and such a blatant false manipulated move manufactured friday evening ready to fry the bulls

That's trading - always expect manipulation and false sets up - you are in a massive money game and therefore the larger players will try every trick in their books to make money - and I am sure that's was their plan

Lots of minor news releases but no major red news today - so being a Monday it might be slow - lets hope not

I am sure you can guess my first scalp - ie scalp buy on the EA from 5 59/ 6 00am - was not set up at 5 51am so missed it from there

Out after 8 15 am this morning - and due to more domestic work going on at home - might only be around for another 3 hrs spread over the rest of the day

Good Trading and stay focused - and if you can - move those stops into profit when you can - it makes it easier to stay calm and focused etc etc

Regards


F

 

[Forexmospherian]

6 30 am Update

EU as been a scalp buy from 5 30 am and the GU a scalp sell from after 6 05 am - but both only small moves atm

As you can imagine after last nights big gap down after Open - the GU is back in bear PS this morning and the EU needs over 1140 and 50 to go into a bull PS - whilst under 1100 - its favours sells as it goes more into more bear land

 

[Forexmospherian]

EA

6 44am

It peaked around 6 30 am - and I made 16 pips on the scalp buy and after 6 30 am it was back to scalp sells - so far 11 pips on that

 

[NickBk]

Good Morning FX Intraday Traders

Hope you had a great weekend and also hope if you took a GU buy on Friday afternoon - you either completely exited before US close - or at least moved yout stop well up into a good profit. The reasoning being - it gapped down over 100 pips at Open last night - a big gap and such a blatant false manipulated move manufactured friday evening ready to fry the bulls

That's trading - always expect manipulation and false sets up - you are in a massive money game and therefore the larger players will try every trick in their books to make money - and I am sure that's was their plan

Lots of minor news releases but no major red news today - so being a Monday it might be slow - lets hope not

I am sure you can guess my first scalp - ie scalp buy on the EA from 5 59/ 6 00am - was not set up at 5 51am so missed it from there

Out after 8 15 am this morning - and due to more domestic work going on at home - might only be around for another 3 hrs spread over the rest of the day

Good Trading and stay focused - and if you can - move those stops into profit when you can - it makes it easier to stay calm and focused etc etc

Regards


F

F,
I am guessing you don't watch the news and Brexit fears. Less manipulation than real life fears I think.
Good morning and have a good one.

 

[Forexmospherian]

F,
I am guessing you don't watch the news and Brexit fears. Less manipulation than real life fears I think.
Good morning and have a good one.

Morning Nick

I reckon the big boys knew Boris would be coming out over the weekend after the announcement of the Vote taking place on the EU in June

So Players really took the GU up high - and also stop hunted bears - before setting up large sell orders for the Sunday night Open

Total legal manipulation in my own view - cleverly done with the only illegal bit being "inside info " on Boris's plans - but saying that the press have openly been saying he would go for no and exit - and it suits his own ambitions within the conservative party - as at grassroots level - more tories faithful want out

I was not in it - and rarely leave trades on over the weekend - but I would be interested if you had a stop say 20 or 40 pips lower from the high just before the close - whether the gap down - meant the stop was missed and you could still be in the trade over 100 pips lower ??

If so - that's bad and costly for many

Remember any old news excuse is a great reason for the players to take advantage - and boy - do they do it well ;-))


Have a great week


Regards


F

 

[Forexmospherian]

6 30 am Update

EU as been a scalp buy from 5 30 am and the GU a scalp sell from after 6 05 am - but both only small moves atm

As you can imagine after last nights big gap down after Open - the GU is back in bear PS this morning and the EU needs over 1140 and 50 to go into a bull PS - whilst under 1100 - its favours sells as it goes more into more bear land

GU

7 10 am

Guess the GU is the flavour of the morning

It certainly got going from the EO at 7 00am dropping over 30 pips in approx 10 mins

 

[NVP]

morning all ........

about 70 mins into my scalping day

SELLS - GBP ........the Brexit will dominate this week now ....market no like GBP today so far

also some yen buys .......som AUD Selling

so GU Sells , UJ buys my main interest so far....plus a little EA buying

 

[Forexmospherian]

GU

7 10 am

Guess the GU is the flavour of the morning

It certainly got going from the EO at 7 00am dropping over 30 pips in approx 10 mins

GU

7 18 am

This was the GU tick chart view - I will say not to difficult on what we should have been doing

Now under the support area with 4200 being next support

 

[Forexmospherian]

morning all ........

about 70 mins into my scalping day

SELLS - GBP ........the Brexit will dominate this week now ....market no like GBP today so far

also some yen buys .......som AUD Selling

so GU Sells , UJ buys my main interest so far....plus a little EA buying

Morning N

This could be the week for just 2 christian names we all know - without any surnames being needed - ie

Boris and Donald -

And what a pair they are - lol

 

[Forexmospherian]

With Yen being strong on buys this morning the UJ and EJ have both been falling so far

Not in either atm - so far only played with EA - GU and EU - and GU gets the top stop so far

 

[NVP]

7.30 bar.......

GU sells still unstoppable ......usd gone bull now big time ......buy usd in all pairs

 

[Forexmospherian]

GU

7 30 am update

So far 4184 low - under the big round number of 4200


Needs a bounce back over 4215 and 25 to have any chance of a turn

Under there - sell on bounces - but then remember 30 min time rule off any new low

 

[NVP]

7.30 bar.......

GU sells still unstoppable ......usd gone bull now big time ......buy usd in all pairs

UCAD buys and EU sells are lead behind GU Sells

3 scalps to be on :smart:

 

[Forexmospherian]

One for NVP and all scalpers on the GU

7 32 am was the low and 7 33 am was a HL and a scalp buy on tick from 4180

That actually then made 12 pips - so will now 77 to 80 hold ??

To early to say - but we now know all the main clues

IE OVER 94 AND 98 - Scalp buys

Under 75 and 70 - more sells

 

[Forexmospherian]

I am finding this morning - from after 7 00 am and the EO - the GU and EU have been great on my tick chart LR set up and EA became a clearer scalp sell after 7 30 am

Made well over my daily target so not going to bother with first 15 mins of the London Open - but be careful with all the games going on - as the London boys are certainly up to something ;-)

 

[NVP]

EA and EJ sells in game now .........nothing still near the scale of GU sells though

 

[NVP]

wildcard NU buys as well.........jees what a session ..............scalps everywhere !!!

 

[Forexmospherian]

Hope to be back after 9 00 am for 30 mins - if not it will be after 10 am

See you later guys and be careful this next hr -

GL and stay focused
#

F