A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

7 43 am

EU

Celebration - EU now up 20 pips from 6 30 am - ie approx 70 mins to make a 20 pip rise

That's why we cannot just depend on the EU movements to make our bread and butter - you always need 1 or more FX "beasts" in your trading pairs - but only trade them when you know know your set up works well - otherwise they will just keep catching you out

As I typed that the EU decided to wake up - must have had more coffee - suddenly another 10 pip rise in about 4 mins

 

[Forexmospherian]

EJ

7 48 AM

Now up over 35 pips since 6 30 am - both EU and EJ have been comfortable movers in the same direction - so cannot complain too much about them

 

[Forexmospherian]

7 30 am scalp buys on GU and GA both been good

As N says - this is turning out to be a busy morning session - just what we want and London Open still 10 mins away

 

[Forexmospherian]

Next hour thoughts

EU - There is a lot of R's from 1060 to 1080 - so will only be taking more buys over 1085 and 1100 + - thats if we ever get that high

EU is bullish above 1037 / 40 - but maybe we will just range this morning

I am hoping I am wrong - but all main news over 10 hrs away

 

[Forexmospherian]

8 01 am

GU - again maybe a 50 pip range this morning from 5280 ish to 5320+ - hope I an wrong and we break out - any way - I dont mind

 

[Forexmospherian]

Dollar as been bearish last hour or so - but remember that can all change in this LO hour

Will stay around up to 9 00 am but then might take morning off - as it might go boring

 

[Forexmospherian]

If you are trading the EA and GA - then 8 00 am on the dot saw scalp buys - GA beening slightly better

OK - pullbacks but even on a 2 pip spread a 13 pip move up is still a nice quick scalp

 

[Forexmospherian]

GA - My favourite scalp pair this morning - so far

GA

Second chart of the morning on this pair - mainly because I have been scalping it the most

Last 45 mins - 4 scalps opportunities - caught 2 at conception

1 min chart shows them perfectly

 

[Forexmospherian]

Hope all can see that to make over 100+ pips off say 6 to 10 scalps in a good session is all possible - but you need to catch the right pairs - not stay with just one slow pair all the while ( well you do while you learn the method at the start - but not as you get more experienced )

 

[FXWorx]

GA

Second chart of the morning on this pair - mainly because I have been scalping it the most

Last 45 mins - 4 scalps opportunities - caught 2 at conception

1 min chart shows them perfectly

Your spread on GA F?

 

[Forexmospherian]

GA

Second chart of the morning on this pair - mainly because I have been scalping it the most

Last 45 mins - 4 scalps opportunities - caught 2 at conception

1 min chart shows them perfectly

Your spread on GA F?

Spread atm 1 7 pips

It ranges from 1 5 pips to 2.3 pips over the day - so even treble of EU

But if you catch a 30 pip move with even a 3.5 pip spread and commission in say 15 mins - its net 26+ pips

Same move on EU with a 1 pip spread and commission in 15 mins would be say 11 - 13 pips - so net pips only say 10 or 12 pips - half as much money made even with a spread a third in cost

When things are really slow - yes maybe then scalp the smallest tightest spread pair

When there is good volatility on the EA and GA - go for it

 

[Forexmospherian]

8 21 am on GA again - its just a scalpers dream atm - better stop soon before it does me lol

 

[Forexmospherian]

GA bias is bearish now under 1480 area - so really scalp buys maybe will only be 10 to 20 pip moves - whereas the scalp sells from after 7 51 am have been 20 -35 pip drops

 

[Forexmospherian]

I see Sun as done well out of a UJ fall and I reckon NVP would have be pleased with the Cad bull mode resulting in the Ucad falling as well

Please - dont let me put you off trading the normal pairs ie the AU / UJ / NU / EU / EG etc etc - but when you get to a really experienced level with scalping then I would always prefer pairs like the EA and EJ and GA / GJ

 

[FXWorx]

Spread atm 1 7 pips

It ranges from 1 5 pips to 2.3 pips over the day - so even treble of EU

But if you catch a 30 pip move with even a 3.5 pip spread and commission in say 15 mins - its net 26+ pips

Same move on EU with a 1 pip spread and commission in 15 mins would be say 11 - 13 pips - so net pips only say 10 or 12 pips - half as much money made even with a spread a third in cost

When things are really slow - yes maybe then scalp the smallest tightest spread pair

When there is good volatility on the EA and GA - go for it

Yes good R:R 's. I get GA 3.5 incl comm - will look at

 

[Forexmospherian]

Will just check out 8 51 - 9 00 am TW next - then I am having a morning off

Will be back over lunchtime and US early session - and depending on how it going might even pop back in after 6 00 pm this evening for main news releases

 

[Forexmospherian]

Last chart this morning on the GA

GA

1 min LR chart - the 8 21 am scalp buy was worse scalp as it only moved up approx 9 pips net after cost

8 other scalps marked all a lot better - the best making over 40 pips - the average ones 20 -25 pips

This last scalp buy from outside TW as made 20 + pips in 4 mins - crazy really

 

[Forexmospherian]

UJ

I noticed it was a perfect scalp buy set up at 8 39 am - OK its only risen 9 pips since then again its fall as a pullback - but the move was a classic set up from a low which also happened to be a HL from 7 hrs earlier

If you are learning scalping with my method - then these are the type of moves you can be more comfortable with - yes I know buying at a low might be scary - but not if the Lrs and other clues are saying buy - 70 -80% possibility they will be right

 

[Forexmospherian]

Ok - see you later on - might be after Midday

Please feel free to share charts and comments and questions etc etc

I have basically done a 3 hr straight through morning with just 2 quick 5 -10 min breaks

I could now finish totally for the day - as well over double daily pip target - courtesy on mainly GA and EA but nice additions from EJ and even the EU.

I always find 6 to 9 am as key session - next one normally 2 30 to 4 30 pm

Nothing against rest of periods - all depends on news releases etc - but today they are skewed for later US session

Be careful if all slows down and goes into BTTZ tease zones - thats when the market want your winning back .

Stay focused and GL


Regards


F

 

[MajorMagnuM]

UJ

I noticed it was a perfect scalp buy set up at 8 39 am - OK its only risen 9 pips since then again its fall as a pullback - but the move was a classic set up from a low which also happened to be a HL from 7 hrs earlier

If you are learning scalping with my method - then these are the type of moves you can be more comfortable with - yes I know buying at a low might be scary - but not if the Lrs and other clues are saying buy - 70 -80% possibility they will be right

you would have bought against the higher sets? UJ? 0839