A Master Class in FX Intraday Trading by F & Co

[NVP]

au looks good so far ..ucad sells as well

later all
n

 

[davetherave65]

Eurusd closed

Closed for +22
EA still open and +36

Dave.

 

[NVP]

would take a real boom to make me rebuy usd now ............selling for me will now ensue

cheers
N

 

[NVP]

gonna take a pop at this ..have 2-3 mins left before next meetings ....watching

N

 

[NVP]

0851.............letting usd retrace north a little ..........waiting

 

[NVP]

0853 ..buy

 

[NVP]

hurry up EU ive only got a few mins ................

 

[NVP]

0855......blodoy chf and cad stealing my pips

 

[NVP]

swissie was the buy,,,,,,,,,,,,,grrrrrrrr

 

[NVP]

Zzzzzzzzzz

 

[NVP]

ok guys gotta scoot .........

I just traded live for you all .........despite what others say we are the real deal on this thread

the usd was a sell = yes
the euro was a buy.....................not quite but not bad

a few pips there .......and I would let it run a little ...perhaps the euro will come up more now

ok gotta scoot ...meetings

cheers
N

 

[davetherave65]

Hi Dave,
I understand your entry....that's one I would have taken. However, for me that would have been a loss as after entry price went -9 pips in drawdown (I'd have bailed at -5). How many pips of DD are you allowing? I still struggle with these type of entries that retest the last swing.
Cheers,
keen246

Hi Keen
Yes you are correct I am still learning the SSS I probably should have closed and maybe re entered as price action turned again
I think I was looking to see if it was going to rise above the previous high a few mins before at 1.0892
As long as I have my lot size correct for money management I can allow myself some discretion to when I close. F closes at max 5 pips I think which is the most sensible method. Occasionally I will see a close previous high if not much higher than entry price and see if that holds
On this occasion it worked as made 22 pips. Also price action is key as well as candlestick patterns etc as well as the usual interim highs and lows to gauge an exit as well as entry point.
Hope that makes some sense and maybe F can elaborate. He will probably disagree with the allowing more than 5 pip stop but we all trade slightly differently even though using F s SSS method Keen

Cheers

Dave.

 

[Forexmospherian]

0853 ..buy

Morning N

That was also what I had on my set up

It was outside the TW - but the PA and the LRs would agree with a crossover on scalping ones

So far at 11 00 am its moved up 64 and stalled

But still a 9 or 10 pip next scalp buy - WD

Here's my chart

 

[davetherave65]

Eurusd short 11:08 @ 1.08589

Hit resistance of long term LR s @ 1.0860
Short term LR cross also

+4 now and EA Short now at +39

Dave

 

[Forexmospherian]

Hi Keen
Yes you are correct I am still learning the SSS I probably should have closed and maybe re entered as price action turned again
I think I was looking to see if it was going to rise above the previous high a few mins before at 1.0892
As long as I have my lot size correct for money management I can allow myself some discretion to when I close. F closes at max 5 pips I think which is the most sensible method. Occasionally I will see a close previous high if not much higher than entry price and see if that holds
On this occasion it worked as made 22 pips. Also price action is key as well as candlestick patterns etc as well as the usual interim highs and lows to gauge an exit as well as entry point.
Hope that makes some sense and maybe F can elaborate. He will probably disagree with the allowing more than 5 pip stop but we all trade slightly differently even though using F s SSS method Keen

Cheers

Dave.

Hi Dave

To get my stops at 3 to 5 pips on every scalp takes some doing

Some sessions - its a piece of cake with spreads under 1 pip

Other sessions - you do need 6 or 7 pips especially if spreads are 2+

I have always found after about 7 or 8 pips wrong way - that means 70% of the time - I got it wrong on timing

Its all down to skill levels etc etc

I have been scalping over 10 yrs with 7+yrs full time over 20K live scalps and soem days I will still get 3 scalps in a row - wrong

I will not wait for 5 or 7 pips on every wrong scalp - sometimes I know I am wrong 30 secs after entry - other time I am wrong but still get out with 1 or 2 pips

Over time and the more you trade in the coalface with time - you will get sessions you can read every pip - an d then sessions where - the market just tricks you ie BTTZ tease zones - ( Bermuda Triangle Tease Zone ) Price will go into an area and then god know only when it will come out and what way etc etc

I have never had more than about 32 or 34 continuous scalp wins in a row - and i have had over 7 losses in arow over 6 yrs ago - but nowadays stop after 3 consecutive losses and have a break of 30 -60 mins and wait on another pair and then just take a scalp and exit with ANY profit - just to break the cycle.

As we all know - so much is down to mindset and confidence.

Years ago i did work on 10 pip stops - and my results were just not in same ballgame as nowadays

Trouble is - years ago - I was not as good as last 3 yrs - but i am in my 60's so my performance level might drop off next 3 yrs as I become more of and Oldie ( lol)

Saying that on my bucket list - still want to do a full Marathon at 70 yrs old - still doing mini triathlons this year - so trying to stay fit and able


Regards


F

 

[Forexmospherian]

11 20 am

A lot of news on Pound at Midday and then at 12 45 pm and US Dollar news at 1 30 pm

So a busy 2 hrs or so to come

Will try and be back for Midday and Pound news

For now its in a 30+ pip range

Easy over 5400 + and easy 5370 and 60

The bit in between is the trick zone - so be careful

See you a bit later

 

[davetherave65]

Closed EA short for +23

Did nt like price action as had +39 previously

Now Eurusd went to nearly 5 pips loss but back to +1

Dave.

 

[Forexmospherian]

GU

11 50 am

the scalp Lits for now is 5385 -5390

Above scalp buys - below scalp sell

News in 10 mins etc so we might get spikes etc etc

Would only leave partials on with stops in profit - and worse case scenario you get gapped

Will try and scalp within 3 mins of news releases or if not enough clues - wait for 9 mins after Midday

Not checked pound crosses atm

 

[Forexmospherian]

EA

11 54 AM

Was not at desk for 11 10 am for EA scalp buy from 5205/6

That was an example of not needing a stop over 4 pips with a 2 pip spread even

so far its risen up 23 pips and pullbacks staying above 5218/20 are still buys atm

 

[Forexmospherian]

GU

11 50 am

the scalp Lits for now is 5385 -5390

Above scalp buys - below scalp sell

News in 10 mins etc so we might get spikes etc etc

Would only leave partials on with stops in profit - and worse case scenario you get gapped

Will try and scalp within 3 mins of news releases or if not enough clues - wait for 9 mins after Midday

Not checked pound crosses atm

11 51/52 am was the scalp buy

Can it clear 85 and 90 though ??