A Master Class in FX Intraday Trading by F & Co

[davetherave65]

WD Dave

Guess you getting on with it OK - Thats good

I am sure you will have the normal 3 + bad consecutive scalps - ( I still do have after 20K live scalps over 7+ years full time ) but dont panic - keep stops tights have a break and re focus

Its just adapting to the ever changing market etc

I think if you aim for anything like 10+ trades over 4 -6 hrs - then you should end up with profits.

For me to get my daily 50 pip target - some morning easy with 4 -6 scalps other days might take 15 + scalps as I get a few wrong and the ones that work only gove me 5 or 7 pips.

Rarely take over 25 scalps in a day - but also rarely stop at under 10 trades.

Loads more to learn but - very pleased with your progress - keep it up etc


Regards


F[/QUOTE

Hi F

Yes I expect to have a few knock backs as long as I can limit the losses to 3 to 5 pips.

Learnt today:

Take profits when you have them ! I was 23 pips up on EA and EU and let them go to zero and negative It also releases margin for fresh, high probability trades

They worked out good in the end as Eurusd broke support @ 1.0900 but it was inefficient to trade waiting for that break. Live and learn

Can you also point me in the right direction to explain how you manage your 30% partials with stops in profit. I think you explained it to one of the followers but cannot recall when !?

Thanks in advance

Dave.

 

[Forexmospherian]

WD Dave

Guess you getting on with it OK - Thats good

I am sure you will have the normal 3 + bad consecutive scalps - ( I still do have after 20K live scalps over 7+ years full time ) but dont panic - keep stops tights have a break and re focus

Its just adapting to the ever changing market etc

I think if you aim for anything like 10+ trades over 4 -6 hrs - then you should end up with profits.

For me to get my daily 50 pip target - some morning easy with 4 -6 scalps other days might take 15 + scalps as I get a few wrong and the ones that work only gove me 5 or 7 pips.

Rarely take over 25 scalps in a day - but also rarely stop at under 10 trades.

Loads more to learn but - very pleased with your progress - keep it up etc


Regards


F[/QUOTE

Hi F

Yes I expect to have a few knock backs as long as I can limit the losses to 3 to 5 pips.

Learnt today:

Take profits when you have them ! I was 23 pips up on EA and EU and let them go to zero and negative It also releases margin for fresh, high probability trades

They worked out good in the end as Eurusd broke support @ 1.0900 but it was inefficient to trade waiting for that break. Live and learn

Can you also point me in the right direction to explain how you manage your 30% partials with stops in profit. I think you explained it to one of the followers but cannot recall when !?

Thanks in advance

Dave.

Hi Dave

30% partial stakes in profit - here's how we do it with example n EU today as i know you traded it -

6 42 am

LiTs Areas


EU - 0933 - 0973

EU

6 48 am

Supports for now at 0930 to 40 and R's above at 0970 to 0985 ish

We do have red news speech at 8 00 am onwards this morning - so that might have an effect - normally negative when Draghi speaks

0957 - 63 could be a scalp LiTs area - between the 2 interim barriers for now -

]After 6 51 am and 7 00 am EO we have seen the falls starting on many pairs

Hope some of the followers got them - easy ones being EU[/B]

So before 7 am we had identified under 0957 / 63 - it was scalp bearish and after 6 51 am we sold - ie 0951 /0 area

Now if you notice price once under 0950 never went back above 0943 all day

So any 30% partial left on scalp from 30% with stop at say 46/47 - a few pips of profit

The fact that the 70% part on the scalp made over 15 pips of profit - even if you left the 30% on with stop not in profit - say 0955 - even if it was stopped out - the 5 pip loss on 30% is outweighed with the 70% gain off 15 pips - so both ways - you dont lose money

You then move stop down over the day - as you say dont let 20 -30 + pips of profit go on a 100% stake on a scalp go to 0 to 1 pip profit - but with partials the main 70% covers the 30% part easy.

From then on there was a few more places you could have scalp sold and then left 30% stake on again with stop in profit - and it would have made you another 30 -70 + pips perfect ones being under the LiTS Area at 0930 and 0920

So far EU dropped down to 0842 - so 100+ pip drop over all day

If you got say 80 pips of first 30% partial stake then say 50 pips of a second 30% partial and then say 25 pips off last then 155 pips at 30% is like 50 pip scalping at 100% stakes - but with no stress - as the stops always in profit - so what ever happens a win - win - although 2 pips is not much profit - unless you scalp on 10 lots+ and 30% then 3 lots etc.

My 30% stakes range normally from 1 to 2 lots nowadays - but I do get some days on some pair 4 or more left in profit - so nice cream on the cake

Hope that helps

Regards


F

 

[davetherave65]

Hi Dave

30% partial stakes in profit - here's how we do it with example n EU today as i know you traded it -











So before 7 am we had identified under 0957 / 63 - it was scalp bearish and after 6 51 am we sold - ie 0951 /0 area

Now if you notice price once under 0950 never went back above 0943 all day

So any 30% partial left on scalp from 30% with stop at say 46/47 - a few pips of profit

The fact that the 70% part on the scalp made over 15 pips of profit - even if you left the 30% on with stop not in profit - say 0955 - even if it was stopped out - the 5 pip loss on 30% is outweighed with the 70% gain off 15 pips - so both ways - you dont lose money

You then move stop down over the day - as you say dont let 20 -30 + pips of profit go on a 100% stake on a scalp go to 0 to 1 pip profit - but with partials the main 70% covers the 30% part easy.

From then on there was a few more places you could have scalp sold and then left 30% stake on again with stop in profit - and it would have made you another 30 -70 + pips perfect ones being under the LiTS Area at 0930 and 0920

So far EU dropped down to 0842 - so 100+ pip drop over all day

If you got say 80 pips of first 30% partial stake then say 50 pips of a second 30% partial and then say 25 pips off last then 155 pips at 30% is like 50 pip scalping at 100% stakes - but with no stress - as the stops always in profit - so what ever happens a win - win - although 2 pips is not much profit - unless you scalp on 10 lots+ and 30% then 3 lots etc.

My 30% stakes range normally from 1 to 2 lots nowadays - but I do get some days on some pair 4 or more left in profit - so nice cream on the cake

Hope that helps

Regards


F

Hi F

Much appreciated Will try and incorporate the partials on next few trades

Dave.

 

[davetherave65]

Euraud short 22:05

Hi all

Euraud short trade taken on down arrow added to chart.

Note to self: keep stop tight lock in profit use partial stake when deemed necessary

Dave

 

[davetherave65]

Hi all

Euraud short trade taken on down arrow added to chart.

Note to self: keep stop tight lock in profit use partial stake when deemed necessary

Dave

Arrow not showing on chart not sure why ! short was at 1.51983

 

[davetherave65]

Arrow not showing on chart not sure why ! short was at 1.51983

Price shot up Aussie banker speaking whilst sending last post

5220 Hard R so went short 5219

Dave.

 

[Forexmospherian]

Price shot up Aussie banker speaking whilst sending last post

5220 Hard R so went short 5219

Dave.

Morning Dave

I hope you had a tight stop. Notice EA went up to 5246 later on and is in a 100 pip approx range this morning

I will be featuring more after I have done my LITS etc etc

All the best


F

 

[Forexmospherian]

Thursday 5th November 2015 - Pre Opens

Good Morning Guys

A lot of UK pound red news at Midday today - but no other red news this morning

Late today - dont like these dark and dismal mornings ;-)

I hope yesterday's scalping session was a help to some of you guys and we will do it again

Normal stuff today - and thank you to Dave, Sun and all getting involved yesterday with their comments and charts etc etc.

Never worry about posting your calls and ideas - Nobody will get all the calls correct 100% day in day out and as long as we all seek great entries - then if they are wrong we will know normally within seconds or minutes on scalps.

OK LiTs out next and not around for LO for about 40 mins but around most of morning

Lets have a great day

Good Trading


Regards


F

 

[Forexmospherian]

EA

6 08/9am one way ( up ) and 6 26 am ( down ) the other way and 21 pips later in under 30 mins is always a nice start to the day ;-)

 

[Forexmospherian]

EU

6 35 am

Even that's in a 45 pip range we need to break out off and 6 26 am again saw first drop

Only got EA - not EU at same time - still not wide awake lol

LiTs next give me 10 mins to sort out

 

[Forexmospherian]

LiTs Area for Thursday Am session

6 45 AM



EU - 0840 - 0880

GU - 5355 - 5405

UJ - 121 38 - 121 64

UChf- 9920 - 9940

UCad - 3140 - 3170

AU - 7125 - 7163

EA - 5235 - 5170

EJ - 132 20 - 131 78

 

[Forexmospherian]

EU

6 35 am

Even that's in a 45 pip range we need to break out off and 6 26 am again saw first drop

Only got EA - not EU at same time - still not wide awake lol

LiTs next give me 10 mins to sort out

EU

6 48 am

For now bounces staying under 0870 are sells again

Price is at 0859/ 60 - an interim support area

0840 to 60 is really all Support - SO for us to sell more we need to see under 0840 - that might take some doing all pre LO - but there again - anything can happen in FX as we all know ;-)

 

[Forexmospherian]

EJ

6 52 AM

Mirrored set up to EU atm - another 6 26 am scalp sell pair ( no only got EA remember )

Bounces staying under 132 05 are really just sells again for now but 131 80 to 92 is just all support for now

 

[Forexmospherian]

Have not bothered with 6 51 am scalp buy on EU at 0860 - why i dont know as already up 3 pips with 66 needed to stay with scalp buys.

Maybe 66 might give me the next clue - if we get there

 

[Forexmospherian]

Normal warning of spikes on the 2 Open hr changes

But then be ready for new scalps

 

[Forexmospherian]

7 00 am

EU

64 and then the drop - so no 66 now the test is 0855 and 0850

 

[Forexmospherian]

EA

6 08/9am one way ( up ) and 6 26 am ( down ) the other way and 21 pips later in under 30 mins is always a nice start to the day ;-)

EA

7 04 AM

This pair was easy from 6 26 am

Left 30% stake on sell and thats now made another 8 pips on the last fall

 

[Forexmospherian]

As mentioned - not here for London Open and first 30 mins

Need to get ready to pop out after 7 35 am this morning

Only really scanned the Euro pairs so far

Noticed a few drops at 7 00 am - ie besides euro crosses - even the UCad - hope NVP as caught it - OK its only 7 pips so far but that's good at this time on a scalp

 

[Forexmospherian]

EU

7 12 AM

The main clue for now is 0865/66

Under there its still sells for now - but as already said i would be surprised if we get to breach under 0850 and then 0840 - as all this area is interim supports

We then have to check time rules for next clues

 

[Forexmospherian]

UJ

7 17 AM

Another 7 00 am scalp opportunity ( no cannot catch everyone - i struggle scalping 3 pairs simultaneously ) but this pair was the buy

its moved up 9 pips - hope Sun might have got that one ?

For now pullback staying above 52 are buys again