A Master Class in FX Intraday Trading by F & Co

[MajorMagnuM]

cheers they look good surprisingly. and commissions? ( when you wake!)

 

[MajorMagnuM]

ah i see it now transaction costs.

 

[davetherave65]

notice 11.10 compared to 10:51

Hi MM
I Notice it made a lower high so should move lower
What were your thoughts ?

Dave.

 

[MajorMagnuM]

my thoughts are we should leave it (EA) as in bttz. threfore we need to see pa that breaks a level then get in on test. ie we need more info than the range limits give us if we are looking for an out of range trade. other wise we have to assume 51.78 to 52 is the [playground.
lr wise, the pa consolidation since 09.00 has allowed a start of a bias change to the negative

 

[Forexmospherian]

11 40 am

Back now for an hour

I think i picked a good time to leave - last 3+ hrs EU been in a 20 -25 pip range and rest of pairs all look to have been slow and ranging etc

Hi MM and welcome aboard Dave and Oscar

Will check on any questions etc next

 

[Forexmospherian]

10 09 am and 11 09am stood out for a few scalp sells - but on EU we need to see over 0935 and 40 to think about holding or taking more scalp buys

It looks as though 0915 to 21 is a support area - and 30 to 40 all R area

Easy under 0910 and 0900 - sells - easy over 0935/ 40 - hold on to scalp buys for 60 or 70 tops for this session

 

[Forexmospherian]

Question F...Had you entered EU @ 9:05 and seeing that it's very likely it will bounce or retrace significantly from 0917, you put a hard take profit around there or you hold the retrace and see what happens....knowing you can miss many pips already won?

Hi K

I would be just looking for 3 to 7 pip scalps - as supports from above 0900 up to 0920 ish and Rs' from 28 - 35 and 40

So with tight range after a 35+ pip drop then really its just grabbing pips - anything over 7 pips being good

The exception being EA - as both EA and AU did large reversals and so they become ideal for partial stakes on the scalps left on

We always know the EU is manipulated the most and so at times the most difficult to make 10 -15+ pip scalps

Also I would try and get stops under 3 pips as spread was under 0 4 of a pip

 

[Forexmospherian]

Notice we have red news at 1 15 - then 1 30 pm and again 3 0 pm

That might explain some of the slowness after 10 am

 

[Forexmospherian]

EA

11 30 AND 11 50/51 am both scalp buys - missed 11 30 am - but above 88 made sense for higher

As we know already 5200 to 5220 all R

 

[Forexmospherian]

Midday now on EA is mixed signals

2 quick Lrs say sell under 5200 - other Lrs say no above 88 still a buy

so its then a question of speed to get 5 -10 pips

 

[Forexmospherian]

i will post EA chart to explain more next

 

[Forexmospherian]

EJ also a good scalp buy after 11 51 am and Midday

but will still post EA chart next

 

[Forexmospherian]

EA - after 11 30 am and 11 51 am

EA

Being commenting on it last 15 mins or so - missed the start of the scalp buy but it made sense to buy above 5188

So far topped at 5217 - so from 11 30 am was a 35 pip move up

12 08 am was the scalp sell under 5217 - proper R up to 5220

 

[Forexmospherian]

Hi MM
I Notice it made a lower high so should move lower
What were your thoughts ?

Dave.

Hi Dave

Hows it going today and is there anything that does not make sense etc so far on my method etc ?

Hope all OK and GL on the journey

Regards

F

 

[Forexmospherian]

12 18 pm

EU woke up after 11 51 am and Midday

Hit R area at 0935/40

Range now 0910 to 0945 - say approx 35 pips to play in

Prefer now to wait for a proper breach - either way

 

[Forexmospherian]

EA - Chart Update for after Midday

EA

1 Min LR chart

 

[davetherave65]

Hi Dave

Hows it going today and is there anything that does not make sense etc so far on my method etc ?

Hope all OK and GL on the journey

Regards

F

Hi F

Thanks once again for your sterling work here.

Can you explain the 30 min time rule again please

I took the short EA at 12:10 Let s hope it can break support around 5205 5200 area

Dave.

 

[Forexmospherian]

EJ also a good scalp buy after 11 51 am and Midday

but will still post EA chart next

12 37 pm

EJ

11 51 am and 12 00 pm was buys - price went up 15 pips

After 12 08/9 pm - like EA etc a scalp sell - now dropped 12 pips

 

[Forexmospherian]

AU falling and EA rising pre hr change

 

[NickBk]

spread is 1 in the cash session and can jump around a bit in the futures trading
4.5 hours futures trading after cash close.
1 spread is easy to mange on the DAX.
They seem to have very good spreads on FX
Even noticed negative spreads one day on the AUD/USD
But have never scalped FX, only swing traded

Negative is not unusual there on EU, I have seen it a lot.