A Master Class in FX Intraday Trading by F & Co

[NVP]

not sure how much more in tank for usd so tight here ..........

ok guys ..theres a few pips traded live !! :smart:

back later
N

 

[NVP]

on calls .back later

 

[sun11]

Morning Forexmospherian,

I have question today. Do care about round numbers while trading (Psychological Whole Numbers) ?
For example today EU stand a lot around 1.0700 this hour.

Regards
Sun

 

[Forexmospherian]

Euro Crosses this am - EU

Morning Forexmospherian,

I have question today. Do care about round numbers while trading (Psychological Whole Numbers) ?
For example today EU stand a lot around 1.0700 this hour.

Regards
Sun

Morning Sun

Been out on a school run so sorry for delay in replying

OK - EU

I think the chart explains it better than just words

Big Round Number - ie 0700 - yes a natural interim support and it gave a 10 pip approx bounce.

But the Price structure set up bias - ie Bearish - meant it needed to bounce above the next interim S/R is above 14 and 20 to have any chance of turning the drop.

Maybe the LR's or a TL give you the additional clues - along with the red - yellow - green traffic light sequence on the LR set up on the mid to long range 1 min LRs

An actual better example was on the EJ - that dropped 70 pips to EU approx 50 pips

I will post a chart on that later - but meanwhile the EU

 

[Forexmospherian]

Beast of the Last Few Days - GA

GA

4 12pm

I must thank Andy 4444 for his post on his journal about buying the GA earlier on today for getting me to look more at this pair over the course of the day

In just over 6 hrs - this pairs been worth over 200 pips - yes 200 pips

Have I got 200 +pips off it ??- ............. NO

But have I made over 110 pips off it today ? ............... Yes

Check it out on my chart - its dropped over 135 pips in under 2 hrs - another beast like the GJ pair

This is why we have to be more than just scalpers

Yes get your scalp entry with tight stop etc - and then if you think its got "legs" leave a partial stake on it with stop in profit - and then try and manage it and add scalps to it when you can - PPND

Its a win/ win - ie no pressure and you either end up with just 2 or 3 pips profit - or 20 -30 pips - or even in some cases 200 -300+ pips

GA

9 16 am

Comment above from yesterday - it was my beast of the day yesterday

Nice buy - and great sell

Chart shown yesterday was the 1 mins

Cannot go far enough to cover the last few days on a 1 min - so this chart is a 3 min LR chart

It assisted me on deciding to start selling again after 5 51 am this morning - based on a Scalp LiTs Area price of approx 10 pips

 

[Forexmospherian]

Noticed we have Cad Dollar news at 1 30 pm

Might not be around at that exact time as out for lunch today - but will look at set up for it later

I have had a cracking morning from just before 6 00 am - even though had to pop out twice in between.

I have not taken many scalps - but my partial stakes left on on sells on Euro crosses have done me well along with a couple of nice trades off the GU and GA.

Might not be around to after Midday - but hope too do a few hrs - ideally of live scalping later on this afternoon - as long as I don't have too many glasses of wine at lunchtime ;-)

See you later guys and stay focused and GL


F

 

[zhrg]

Morning to you all

I dont know how much trading I will be able to do to day since there is not school to day for the kids.

But I do think this setup on tick chart t34 looks good and gives good setups, many nice scalps on eurusd alone and two moves over 10pips.

I have one question to Mr. F and other experts regarding total cost of trade:
What do you guys consider reasonable total cost to by while using extremely tight stoploss.
Example, I used yesterday 2pips, but with the commission the total cost was 0.94 pips (spread 0,2pips + commission 0,74). That is really high considering 2 pips equal to 0,5-2% of equity. Then the commission is 27% of total risk in the trade. Have you been able to find a good ecn broker were you could keep the total cost (spread + commission) 0,5pips or lower?
I see that could be possible with rebate-programs but I would rather just do it with no middle man. If you don´t see possibility getting the cost down on a small 200usd account without rebate, what rebate company would you recommend?

Best regards and good pips hunting
Zhrg

 

[Forexmospherian]

Morning to you all

I dont know how much trading I will be able to do to day since there is not school to day for the kids.

But I do think this setup on tick chart t34 looks good and gives good setups, many nice scalps on eurusd alone and two moves over 10pips.

I have one question to Mr. F and other experts regarding total cost of trade:
What do you guys consider reasonable total cost to by while using extremely tight stoploss.
Example, I used yesterday 2pips, but with the commission the total cost was 0.94 pips (spread 0,2pips + commission 0,74). That is really high considering 2 pips equal to 0,5-2% of equity. Then the commission is 27% of total risk in the trade. Have you been able to find a good ecn broker were you could keep the total cost (spread + commission) 0,5pips or lower?
I see that could be possible with rebate-programs but I would rather just do it with no middle man. If you don´t see possibility getting the cost down on a small 200usd account without rebate, what rebate company would you recommend?

Best regards and good pips hunting
Zhrg

Hi Zhrg

I have found over last 7 years it's really all down to the size of your capital account - the number of lots you will trade over a month - and your negotiation skills.

On the EU as an example - you want a broker who will offer spreads from 0 2 to 0 7 of a pip and then with all commissions be able to look at less than 1.2 pips for all in cost

Just for an example then - if you entered a buy on say 3 lots per pip - iie$30 dollars and you it went up from entry on 4 pips and you exited - your profit should be from 2 7 to 3 pips -so net cash $80 to $90

On say the EA - then allow 3 pips all in - and my stops normally are 4 to 7 pips on this pair - but because its a bigger mover than the EU - I might find in the same time I make 7 pips gross on the EU - say in 5 -9 mins - so ( net 5 7 - 6 pips ) the EA as moved 13 pips and my net profit is still 10 pips - so over 75% more profit even though the costs are a lot higher.

I also prefer to try and aim on scalps for 5 -7 pips minimum and then if i think its got legs for a larger move leave 30% stake on with stop in a small profit - i could leave it just b/e or even 5 pips back from entry - because my main profit comes from the 70% stake on the initial scalp stake .

With a tick chart and finely executed scalp entries you can work on a 2 - 3 pip stop - but I would no way risk 1% of my account with such small margin

Normally 5 pips for me can be under 0 3% of capital up to 0 5% - but then that's on a larger capital account over $50K +

If you are starting on $250 -500 live yes maybe 0 5% on 3 pips - if your are very skilled and know the risks and after quick growth.

Major M who first learnt my method - did many days on a live £1k account make over 20% per day. I advised him too much risk etc as he was using 2% on 5 pip stops etc at times - the inevitable 5 or 7 losses in a row which will happen every so many hundred or thousands scalps will then really set you back.

Hope that helps for now and please feel free to ask as many questions etc as you like - might not be able to answer everyone - but will always try

Good Trading


Regards


F

 

[NVP]

not sure how much more in tank for usd so tight here ..........

ok guys ..theres a few pips traded live !! :smart:

back later
N

back again dudes .........ooo yeah

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1709.html#post2659376

N

 

[NVP]

usd sold through floor in last hour or 2 ........most currencies did ok ...........only Aussies and Yen fell as well..............good buys into Europeans and Cad


but when will the selling stop ?..........I would be very surprised if the aisan support / lows get breached before US opening ............so buckle up for a bounce

N

 

[NVP]

usd trying north ...........Europeans worth a sell

 

[Forexmospherian]

back again dudes .........ooo yeah

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1709.html#post2659376

N

Hi N

UCad

We have news on this pair and so far not traded it at all .

It was a nice buy pre Opens and then after 9 00 am UK time a nice sell

3275 to 81 is like my Scalp lits next on bias

need under both prices to stay with any more sells

Above 3320 back in to bull bias

Range say 35 -45 pips - so for news all depends which bias structure its goes into

Might not be back from Lunch to after 2 15 pm - but plan to then do a few hrs in the afternoon

I hope you had a good early session and we both make a few more pips later on in the US session




F

 

[NVP]

usd trying north ...........Europeans worth a sell

eu long long overdue for more resells

N

 

[NVP]

Hi N

UCad

We have news on this pair and so far not traded it at all .

It was a nice buy pre Opens and then after 9 00 am UK time a nice sell

3275 to 81 is like my Scalp lits next on bias

need under both prices to stay with any more sells

Above 3320 back in to bull bias

Range say 35 -45 pips - so for news all depends which bias structure its goes into

Might not be back from Lunch to after 2 15 pm - but plan to then do a few hrs in the afternoon

I hope you had a good early session and we both make a few more pips later on in the US session




F

the cad has had nice selling moments since Asian but has since scuttled back to around neutral for the day now re strength ...........off my radar as no bias for me to bat off of.................as yet :smart:

 

[Forexmospherian]

eu long long overdue for more resells

N

0709 to 0716 my scalp Lits area next

Below both prices favours scalp sells when the rise stop

If we go over both prices and pullback stays above 0690 / 700 - then EU will turn bullish again

That's how I see it - whether I am here to take advantage - all depends when we get the tests etc etc

GL on it N

 

[NVP]

EA is the superpair today as stated earlier in my early posts ...........AUD has been to way over 30 pips up at times today and the EUR recently sunk to over a 40 pip drop since days open

you guys do the sums on those potential scalps and extended plays ..converts to a lot of pips on EA selling

N

 

[NVP]

ok back later ..........break over

 

[Oscar Reed]

Got 3 or 4 runners today.
Still being lazy.

Good Weekend All

Oscar

 

[Forexmospherian]

EU

12 37 PM

Time rules ;-)

Back after 2 15 pm - GL with UCad at 1 30 pm news

 

[Forexmospherian]

GA - the Beast again today

GA

9 16 am

Comment above from yesterday - it was my beast of the day yesterday

Nice buy - and great sell

Chart shown yesterday was the 1 mins

Cannot go far enough to cover the last few days on a 1 min - so this chart is a 3 min LR chart

It assisted me on deciding to start selling again after 5 51 am this morning - based on a Scalp LiTs Area price of approx 10 pips

GA

Just after 2 00 pm

So far dropped 450 pips from Wednesday and 200 pips today - check out updated chart below

Updated 3 min chart with Traffic light sequence on mid / long range LRs

The EA as been similar - will post that chart a bit later

Back to do a bit of scalping after 3 00 pm next

See you in a bit