A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

8 02 am

GA

With the Pound being weak last hr and GU dropping - it was not going to be long before the GA got in on the act

High was at 7 45 am - anytime after 7 50 /1 am was the sell

If you caught it after 7 51 am - you are now 38 pips up in 10 mins

 

[Forexmospherian]

OK - slow morning - but after 2 hrs and 15 mins - I got there - ;-)

Will pop back in after 9 00 am and then hope to cover a couple of hr pre Lunch time and then a couple of hrs after 2 00 pm

That's my plan today - please feel free to join in and make your calls and post your charts etc etc

I have been extremely lucky this morning - yes very LUCKY - 100% win ratio so far

Many mornings I have 1 to 3 bad scalps in first 2 hrs and some days - even 5 bad trades - but maybe 9 to 20 winners as well over the day - so making my target etc

See you later guys


F

 

[Forexmospherian]

GA - Catching the Change in Bias

9 02 am

9 00 am was a scalp buy on this pair - but got the feeling i will look to sell again under 0910/15 area

My method is geared around catching interim highs and lows over the trading main part of the 24 hr day.

A great example this morning is the GA from after 7 45 and 7 51 am this morning - ie just prior to the London Open.

It had been a buy from after 5 00 am ( was not up at that time ) but the session then went bearish - resulting in 50+ pip falls

So how do we catch the change ??


I will try and answer that in more detail later.

First we have to scalp from high - and then we need to see 30 mins + go by with no breach of that high

There are loads of other clues - many I have mentioned during the last 2 years - but others I dont maybe mention enough

See if you can spot them as well

 

[Forexmospherian]

5 Possible Scalps over Last 90 Mins on the GA

GA

9 33 am

Let me say for a start - I only got 3 of the 5 scalps - one before I went out and 2 since I have been back - the 9 00 am scalp buy explained in last post.

Here's the chart with the Scalps numbered 1 to 5

1 Sell Scalp from after high at 7 51 am - worth 50 pips gross - anything over 30+ pips and you did well - I left part stake on

2 Buy Scalp at 8 05 am - a bouncy ball effect from quick drop - worth gross 30 pips - buy anything over 15 pips is decent from this move

3 Sell Scalp at 8 39 am - Continuation of down bias - not here to take that one neither - dropped approx 50 pips gross again - 30 + pips on the cards there

4 Buy Scalp at 9 00 am - got that one - worth 30 pips gross - 15 -20 pips easy off that scalp all under 6 mins

5 Sell Scalp - could not mark time on chart shown but anytime after 9 07 am - a 30 pip drop again gross - again 15 -20 pips on the cards net

So lets total up the realistic pip count - forgetting partials

These are the pips you should be obtaining on a big moving pair in a busy 90mins to 2 hrs - don't expect the same pips on normal main 4 or 6 pairs - half them as a minimum .

Minimum off 5 scalps - 110 - 130 pip - all with 90 mins - out of possible 200+ pip gross and with total luck of catching all interim highs and lows in the 90 mins.

Then add your partial stakes - remember bias is bear / down - so favoured leaving part stakes on first 2 sells . That gets more complicated and remember we have to learn step by step etc - it complex and far from easy - that's why most traders don't take advantage of trying it

9 21 am on the GA was another scalp buy - no not taken it - already over 11 scalps now and its not even 4 hrs of my trading day and above my target - so no panic

 

[Forexmospherian]

9 39 am

One thing worth pointing out is the Euro is stronger than the Pound so far this morning -even though both key pairs saw falls

Will pop back after 10 30 am or so next

Stay focused and GL guys


F

 

[zhrg]

So far this morning 🙂

 

[Forexmospherian]

12 13pm

It actually started kicking off again from 11 51 am on the GU but for most pairs it was on the hr change for Midday when we saw the scalps starting

I liked the GU scalp buy from 11 50 / 51 am - it made sense and worked a treat moving up 13 pips

Now can we stay above 5077/8 for another scalp buy ?

 

[Forexmospherian]

12 13pm

It actually started kicking off again from 11 51 am on the GU but for most pairs it was on the hr change for Midday when we saw the scalps starting

I liked the GU scalp buy from 11 50 / 51 am - it made sense and worked a treat moving up 13 pips

Now can we stay above 5077/8 for another scalp buy ?

GU

12 53 pm

40 mins later - high so far 5103

We need to stay above 88/90 to keep scalp bullish

Otherwise in the hour we have had a 26 pip rise - of which I hope students of the method would get a net 15 - 22 pips depending on your entries

 

[Forexmospherian]

1 00 pm Update

With no red news and US off on a Bank Holiday today - I dont see fireworks in the markets this afternoon.

I can always hope I am wrong and some bright Bankster thinks its a good time time to try and take the EU back up over 0800 just for a big stop hunt lol -;-)

Will see how we go over next 2 hrs - but only popping in every 30 mins or so - unless of course we kick off

 

[Forexmospherian]

GU

12 53 pm

40 mins later - high so far 5103

We need to stay above 88/90 to keep scalp bullish

Otherwise in the hour we have had a 26 pip rise - of which I hope students of the method would get a net 15 - 22 pips depending on your entries

GU

2 30 pm Update

Very slow but GU stayed above 90 and now at 5115 area

I am only in on partial stake now - but also have taken more scalp buys on the GA from after 2 00 pm

Both are still bullish for now - but will move stops up into more profits and then review every 30 -60 mins

 

[Forexmospherian]

2 45 pm

Euro crosses

Check out scalp sells in sync after 2 35 / 36 pm on all 3

So far in 8 mins EU just drops 4 pip - as you might expect

EJ - that drops in same time 6-7 pips

EA - that drops the most - as you expect - 12 pips

So based on those facts - can you see why I prefer to scalp EJ and EA in preference to EU in slow periods

 

[Forexmospherian]

2 45 pm

Euro crosses

Check out scalp sells in sync after 2 35 / 36 pm on all 3

So far in 8 mins EU just drops 4 pip - as you might expect

EJ - that drops in same time 6-7 pips

EA - that drops the most - as you expect - 12 pips

So based on those facts - can you see why I prefer to scalp EJ and EA in preference to EU in slow periods

Funny enough - got stopped out on GA last buy at 0924 after a 31 high ( In profit )

In same time as euro cross scalps after 2 36 pm - the GA dropped nearly 30 pips

Again a 4 pip drop on EU was 12 pips on EA and 28 pips on the GA

Cherry pick your pairs 🙂

 

[zhrg]

I just realized something this morning, I can use my tv as a second monitor. So I set my charts on the tv zoomed out so I could always see the bigger picture (las 24hours). Then used the laptop to micro manage trades taken. Result much better than using only one 15ince screen, Bigger is better :cheesy:


Result for to day.
Number of trades 25
60% win
2 trades taken were dax30, both winner total 572pips, I think that would euqal as a 30pip win on the eur/usd.
23trades fx
Biggest loss -8.2pips
Biggest win 17.6pips
Gross pips +44.9pips
Netto pips (incl commission) +27.7pips

Best regards
zhrg

 

[Forexmospherian]

I just realized something this morning, I can use my tv as a second monitor. So I set my charts on the tv zoomed out so I could always see the bigger picture (las 24hours). Then used the laptop to micro manage trades taken. Result much better than using only one 15ince screen, Bigger is better :cheesy:


Result for to day.
Number of trades 25
60% win
2 trades taken were dax30, both winner total 572pips, I think that would euqal as a 30pip win on the eur/usd.
23trades fx
Biggest loss -8.2pips
Biggest win 17.6pips
Gross pips +44.9pips
Netto pips (incl commission) +27.7pips

Best regards
zhrg

Hi zhrg

Well Done on your figures

Yes Dax figure looked great on your statement you posted earlier on - but guessed it was not a normal representation etc

Ideally if you are intraday multi trading more than 2 or 3 pairs - you do need more screens to view - ideally 3 or 4 - but to try and check all out on a Laptop or one monitor will slow you down

I appreciate traders only taking one or a few trades a day dont need all the equipment - but if you are doing it seriously - then earning an extra 10 or 30+ pips a day by covering more pairs soon pays for the extra hardware - even a new TV etc.

Keep it up and i reckon you are getting into my method fairly well - but always fee free to ask any questions and post any set ups and ideas etc etc

All the best

Back now maybe after 5 00 pm or so

GL guys

Regards


F

 

[NVP]

hey all ..........cant get excited as thanksgiving in us ..........talk tomorrow

N

 

[zhrg]

Hi zhrg

Well Done on your figures

Yes Dax figure looked great on your statement you posted earlier on - but guessed it was not a normal representation etc

Ideally if you are intraday multi trading more than 2 or 3 pairs - you do need more screens to view - ideally 3 or 4 - but to try and check all out on a Laptop or one monitor will slow you down

I appreciate traders only taking one or a few trades a day dont need all the equipment - but if you are doing it seriously - then earning an extra 10 or 30+ pips a day by covering more pairs soon pays for the extra hardware - even a new TV etc.

Keep it up and i reckon you are getting into my method fairly well - but always fee free to ask any questions and post any set ups and ideas etc etc

All the best

Back now maybe after 5 00 pm or so

GL guys

Regards


F

Just by looking at few days on 1min dax gives me the impression that 200pips dax = 10-15pips eurusd. Allthough earning 500pips on eurusd would have been nice. But todays result equals 57pips after commission, I think that would be ok for a new guy.


The tv is 55inch so I can put 4 big charts on it same time.

What pairs would you recommend for me in the begining Mr.F?

Regards

 

[Forexmospherian]

Just by looking at few days on 1min dax gives me the impression that 200pips dax = 10-15pips eurusd. Allthough earning 500pips on eurusd would have been nice. But todays result equals 57pips after commission, I think that would be ok for a new guy.


The tv is 55inch so I can put 4 big charts on it same time.

What pairs would you recommend for me in the begining Mr.F?

Regards

Hi z

Maybe it all depends on how experienced you are on FX intraday trading

I maybe wasted my first 5 yrs on just 2 main pairs - EU and GU - EU accounted for over 70% of my scalps and GU maybe 25%.

I suggest you major on 2 pairs - like say EU and EA or EJ - or AU and EA and then try and have 4 to 8 pairs set up to quickly scan to see if any set ups are better.

Many days the EU is the most difficult pair to intraday trade - manipulated and slow - other days it can be fine.

I maybe would not suggest beasts like the GJ or GA yet - ( spreads and costs from 3 to 5 pips ) but the difference is catch a nice 20 -30 min rally on one of those pairs and you will take maybe treble the pips etc than on the UJ or the AU etc.

Ideally in your portfolio you cover a yen pair and a euro cross and then on major news days on the pound and Cad dollar - look at those as well.

GL


Regards


F

 

[zhrg]

Hi z

Maybe it all depends on how experienced you are on FX intraday trading

I maybe wasted my first 5 yrs on just 2 main pairs - EU and GU - EU accounted for over 70% of my scalps and GU maybe 25%.

I suggest you major on 2 pairs - like say EU and EA or EJ - or AU and EA and then try and have 4 to 8 pairs set up to quickly scan to see if any set ups are better.

Many days the EU is the most difficult pair to intraday trade - manipulated and slow - other days it can be fine.

I maybe would not suggest beasts like the GJ or GA yet - ( spreads and costs from 3 to 5 pips ) but the difference is catch a nice 20 -30 min rally on one of those pairs and you will take maybe treble the pips etc than on the UJ or the AU etc.

Ideally in your portfolio you cover a yen pair and a euro cross and then on major news days on the pound and Cad dollar - look at those as well.

GL


Regards


F

I consider me as a total newbie, but I have tried fx trading few years ago and blew few euros.
I am fast learner when I have time like now, i dont think there is much here on t2w that you Mr.F have written I belive read it.
I was quite interested reading about that german guy Magellan (not sure if he is a myth, cant find anything else about him), I would like to study his method. I dont think always shoot for 4 pips tp on usdjpy with 100-200 trades a day can be done with stoploss 2-3pips and cost per trade 0.9pips. But pls show me how if anyone knows, not saying it cant be done, but im not seeing it.

One of my best winner today was GJ, isnt that pair just considered that dangerous because of its bigger moves.
If the range is 20-30pips (my spread 2.8pips) it shouldnt be much more risk of taking the trade with 8-9pip sl, similar as eurusd with 3-5pips sl going for 7-8pip scalp when range is 10-15 pips.

Hope I made my self understandable.

Best regards
Zhrg

 

[Forexmospherian]

Hi Zhrg

I think why so many short term traders cover the EU is that the spreads can be as low as 0 2 pips on many ECN brokers and even with commission - and 3 pip scalp moves can make you 2 pips net. This can apply similar to the AU and UJ - normally spreads under 0 7 of a pip. With spreads like that then you can get your stops down to 3 or 4 pips - but I would agree if your spreads are 3 + pips - you do need 7 -8 pip stop size.

With the "beast" pairs - if you catch a bad scalp - to lose 5 to 8 pips can happen very quickly - whereas again with the EU and UJ being so much slower - with a bad scalp you can get out just minus 1 to 3 pips.

If you consider yourself very much a newbie - you might be going through a good stage - when you are on a "roll". Believe me - even after 10 + yrs of this method - I can still have 3 or 4 consecutive losses that can knock you back until you get your mind totally sorted to the deliberate "game" the markets are playing - ie they want to do your mind in so you act negatively and lose confidence - resulting in you taking revenge trades and losing discipline etc - that can mean suddenly you have widened your stops to 15+ pips and added extra stakes - and then realise you have just lost 3 times what you are.
used to.

95% + of all FX traders will go through bad periods and question their method and have doubts - so just be aware of it in your first 2 to 3 yrs etc,

Good Luck on your journey and make sure you control your risk well and stay disciplined


Have a good day


F

 

[Forexmospherian]

Black Friday - 27th November 2015 - Pre Opens

Good Morning FX Traders

Lets hope its not a black day for us in the markets - but instead we find loads of bargain prices and take advantage of them

The 6 00 am time window as seen the Euro crosses being bullish - earning me nice pips for my first few scalps - a great start for a Friday

Best pairs - EA and EU - I left out EJ and did not try scalping 3 pairs adding the GA - remember I am still not 100% awake and with it at this time of the morning lol

So far at approx 10 mins to the EO - the EU as moved up over 23 pips and the EA 65 pips all within the last 45 mins or so


Daily target done in under an hour - even before the Opens

Enough said 👍


Please feel free to join in etc and have a good day

I just have done 😀


Regards


F