A Master Class in FX Intraday Trading by F & Co

[liver1234]

Thankyou forex

 

[NickBk]

But also remember you can have 25 or even 35 winning trades in a row - - make sure your money management is designed to cope for all occasions


Regards

F

Last month I hit 34 or 35 in a row over a day and a half, was a good feeling too.
In a given day when I have a few winners I increase each stake till I hit a loser so obviously had a good run.
I do start each day as new and try again.

 

[NVP]

Totally agree with you - visiting hospitals puts it all into perspective .

You never hear old people in their 80's or even older saying - "I wish I had spent more time in the office working" etc etc

Seeing children really ill pulls on your heartstrings and makes you count your blessings

As you get older you do look back and think what would I have changed.


I still plan to do 2 triathlons in 2016 and hope I am still fit enough to do a marathon at 70 - ( I hope ).

I don't want to spend 30 hrs a week on the golf course - I am too old for motor racing ( my wife says) but I do want to be able to spend some quality time with family and friends etc etc - while I am still healthy.

Lets also hope that the NHS can stay fit and healthy as well - but that's another topic

All the best N

Regards

F

agreed.............i'm 56 and semi retired .....the 3 weeks in canaries was also about us looking at property and seeing what lifestyle we want going forward.........nice area meloneras ........

I like the sun but really only in winter........uk is ok for the summer months

I like relaxing but really really really need my brain active.........so trading will be always part of what I do ............alongside consulting for hopefully a few more years

I will aim to keep fit..........golf perhaps as well for social side .........I will also try to get some challenges going re fitness like you ........

after some brutal punishment from martial arts in my teen years and then some painful accidents to legs/knees/ankles in my late 20's re my adventure sports business in Aus and NZ ........(including some horrendous stunts for tv adverts and movies that were tough on body) ............I cannot hope to complete marathons and ultrathon stuff..........but I will find something to challenge me

live each day....I have lost all my remaining blood family in last few years and even my SAS business partner from Aus died from cancer at 56 just 2 years back ...........so will live it on their behalf.............

cheers macka

Cheers
N

 

[Forexmospherian]

Last month I hit 34 or 35 in a row over a day and a half, was a good feeling too.
In a given day when I have a few winners I increase each stake till I hit a loser so obviously had a good run.
I do start each day as new and try again.

Hi Nick

You actually bring up a good point on money management and do's and dont's

Personally - I would never average down or martingale in any situation - yes Ok it might works on odd occasions - but normally all you are doing is placing more risk and stress on yourself rather than doing what you are doing and reusing your gains to make more.

I agree with you - if you are on a winning streak and the market is suiting your method and say you are 25%+ up on your daily target with another 2 or 4 hrs of your normal trading day - then yes - why not take more of a risk - but as long as its nothing silly like going from a 1% stake size to 7 or 10% stake size that might see one or two bad trades wipe out all your gains etc.

You can take risk with caution - for example say I am at 75 pips and i think OK If i now lose 15 pips at my normal stake size i am not to bothered - I am still above my daily target. Well 15 pips can be 3 or even 4 bad scalps - but if i increase my lot size by say 50% so instead of a say 4 lots a pip I place 6 lots on and then I lose at least I am still comfortable and not kicking myself by wiping out half my days winnings.

I have seen some traders who get all the stake sizes wrong and average down etc etc end up with say a net 50 positive pips - but have actually lost money .

Yes it does and can happen.

This comes about because their winning pips off winning trades make say 85 pips - but their 35 pip losses are with lot larger stake sizes - ie 85 pips at say £20 = £1700 - but 35 pips of losses at £50 = £1750 - so result net loss £50.

Anyone following them and not understand what they have done would think - he 's done well - hes made a net 50 pips - even at just 1 lot thats $500

But in reality - they have gone and lost £50 - purely because their money management and stake sizes are all out of sync etc

I don't like to take too many risks first thing of the day - yes when I have 25 or 35 pips in the bag then its not too bad if I still have an afternoon or 5 hrs still available to take more trades

However if its a tough day and I have only got 1 hr of trading left and I am only at say 30 pips - I am cautious - again pressure can make you take risks that you would not normally take and if I had already had say 5 or more bad trades early on - I would be saying - dont blow it - there's always another day

Regards


F

 

[sun11]

First time I can comment on the thread at a weekend for nearly a month - and the fact that I am not on Twitter / Face book / Instagram / other social trading sites etc etc I am looking forward to sharing some more of my FX trading experiences here

Sorry to drop in.
All those stuff (FB, Twitter etc) are complete junk.
Addictive, eats time for nothing. People are mostly self promoted & you will rarely find a valid discussion. Forums are best. I hate Fb, in past it has taken lots of my valuable time. I spent many times staring at my own picture & thinking what other will say. lolz! It's better to stare at the charts instead of doing that.

Hope you are enjoying your sunday..
Regards

 

[NVP]

Sorry to drop in.
All those stuff (FB, Twitter etc) are complete junk.
Addictive, eats time for nothing. People are mostly self promoted & you will rarely find a valid discussion. Forums are best. I hate Fb, in past it has taken lots of my valuable time. I spent many times staring at my own picture & thinking what other will say. lolz! It's better to stare at the charts instead of doing that.

Hope you are enjoying your sunday..
Regards

we probably all come from a generation here where this media/communication medium is mere distraction and nonsense to us ....but to the latest generation this IS reality ..........they have no other reality

As a Business consultant and a Trader I must force myself to consistently observe and understand the dynamics and trends in the world ......but personally it doesn't mean I have to like it

N

 

[NVP]

Last month I hit 34 or 35 in a row over a day and a half, was a good feeling too.
In a given day when I have a few winners I increase each stake till I hit a loser so obviously had a good run.
I do start each day as new and try again.

that's a great run N .........I remember you mentioning it ........

you seem like someone who has a clear and objective mindset as well so suspect you are not going to get carried away and expect consistent results like this ............if you do continue to do this please send me your system urgently

for me on a really good day I will retain my same stakes regardless of winnings...............I may take some additional trades to capitalise on the G8 divergence ........so in truth perhaps that constitutes extra risk.......but in forex trading you should fill your boots when the opportunities arise......because its not an ATM

N

 

[NickBk]

that's a great run N .........I remember you mentioning it ........

you seem like someone who has a clear and objective mindset as well so suspect you are not going to get carried away and expect consistent results like this ............if you do continue to do this please send me your system urgently

for me on a really good day I will retain my same stakes regardless of winnings...............I may take some additional trades to capitalise on the G8 divergence ........so in truth perhaps that constitutes extra risk.......but in forex trading you should fill your boots when the opportunities arise......because its not an ATM

N

Thanks NVP,
I actually took 523 trades in September at 83% at an average length of 28 minutes.
These are just fx trades ala F (new separate account), sometimes with a little interpretation on my part.
I have said many times in F's old thread one of the many good points in his system is that it also prevents you taking bad trades.
I am working at it when I can but it has really worked well.
If you are interested I made 80% of my trades on EA.
When I get time I will try and articulate why but it is a long thought process and examples of spreads, margins, comms and volatility.
Cheers and good luck all.

 

[NVP]

Thanks NVP,
I actually took 523 trades in September at 83% at an average length of 28 minutes.
These are just fx trades ala F (new separate account), sometimes with a little interpretation on my part.
I have said many times in F's old thread one of the many good points in his system is that it also prevents you taking bad trades.
I am working at it when I can but it has really worked well.
If you are interested I made 80% of my trades on EA.
When I get time I will try and articulate why but it is a long thought process and examples of spreads, margins, comms and volatility.
Cheers and good luck all.

jees N that's a good track record ..........respect :smart:

N

 

[NickBk]

jees N that's a good track record ..........respect :smart:

N

Commission was huge!!!

 

[Forexmospherian]

Commission was huge!!!

Hi Nick

That's another area I need to discuss

Once you have proved to your broker that you are serious and do serious numbers - give them the ultimatum - ie a better deal or you leave.

They might want it tied to say a minimum 200 trades or 500+ lots per month etc but if you are paying them over say $5k a month ( even $10k + a month ) then they will not want to lose you and so special deals are all possible.

Also some traders say - thats why I only take a few swing trades a day rather then 10 or 30 scalps etc - its a lot cheaper etc etc

I say - which would you prefer - to make $10k a month net after only paying you broker say $1k - or pay your broker 7+ times a month more - but make a net $17k ??

Ideally - i would prefer to even pay my broker $30k a month if I earned $50k + net every month - but if i can save $500 to $2k a month purely off negotiation - then its worth doing

Regards

F

 

[tdezo]

Hi guys , F and other good folks here. I did not die or run away , just got slammed unexpectedly with work , start early , back home late , 24/7 .
By the end of this week all should be back to normal , have time to practice again.
I do scroll in the evening , going through the day's charts bar by bar , not as good as real time but good enough to see what happened and learn.
Have a cracking week , Ill check in on phone....

 

[Forexmospherian]

Hi guys , F and other good folks here. I did not die or run away , just got slammed unexpectedly with work , start early , back home late , 24/7 .
By the end of this week all should be back to normal , have time to practice again.
I do scroll in the evening , going through the day's charts bar by bar , not as good as real time but good enough to see what happened and learn.
Have a cracking week , Ill check in on phone....

Good To hear from you tdezo

Look forward to you joining us again in the near future when you have some more time on your hands

All the best

Regards

F

 

[Forexmospherian]

Monday 12th October 2015 - Pre Opens

Good Morning Guys

Another new week and lets hope it's a busy as last week

A slow start though with quite a few Bank Holidays - including the US - Canada and Japan - so not a normal Monday

Also no red news in our normal trading day - so maybe its not going to get that busy this afternoon

Normal stuff this morning - will get the LiTs areas out in next 15 - 20 mins etc

6 09 am on the EA as been the best scalp opportunity so far - most pairs at 5 51am - 6 00 and 6 09 am so far have been very slow

All FX contributions welcome etc

Have a great day

Regards


F

 

[NickBk]

Morning F,
Had 3 EA trades in the bag so far but I have a head start on you time wise.
Nearing 45 pips all before the market opens.
Good luck

 

[Forexmospherian]

6 37 am

LiTs areas for Monday Am session

EU - 1345 - 1365

GU - 5305 - 5325

UJ - 120 20 - 120 35

UChf - 9597 - 9622

Ucad - 2935 - 2965

AU - 7303 - 7339

EJ - 136 45 - 136 78

EA - 5460 - 5540 ( Big LiTs - in a large range for now )

 

[Forexmospherian]

Morning F,
Had 3 EA trades in the bag so far but I have a head start on you time wise.
Nearing 45 pips all before the market opens.
Good luck

Good Morning Nick

Its the first pair I look for a scalp on early morning now

Last 90 mins look good on it - so can totally understand you being able to make 45 pips off it - that 6 09 am sell was worth 15+ pips and a 6 30 am buy - another 15 pips

Have a great day and week Nick


Regards


F

PS also at 6 30 am the EJ was a nice sell - but that only dropped 8 pips - shows the difference in pip movements as normally the EJ is a good mover

 

[FXWorx]

Morning Guys - Nice Going Nick!

 

[NickBk]

Good Morning Nick

Its the first pair I look for a scalp on early morning now

Last 90 mins look good on it - so can totally understand you being able to make 45 pips off it - that 6 09 am sell was worth 15+ pips and a 6 30 am buy - another 15 pips

Have a great day and week Nick


Regards


F



PS also at 6 30 am the EJ was a nice sell - but that only dropped 8 pips - shows the difference in pip movements as normally the EJ is a good mover

Traded it a few times Friday and got 118 pips whilst EA itself was in a range of around 65 pips. Another good reason for scalping and not longer time frames.

 

[NickBk]

Morning Guys - Nice Going Nick!

Thanks