A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

No trading for me today, going on a roadtrip over the weekend. But hope I will come in strong on monday and keep similar result.

I am aware of this might just be a beginners luck, I have been doing business for that many years so I dont don't take anything for granted, I have gotten my self burned few times before because I wasn´t careful.

I put two chart´s as an example of how I view them and decide my trades.

One has a range, I take the trade close to the resistant or 2-3pips above/below the resistance if there is a breakout. Stoploss is adjusted acording to the pair, how big the normal movement is and spread.

the other has a trend, when I see that I jump in were there is a retracement and just let it run. But always in both situations looking at the LR´s for support levels.

Feel free to criticize my approach and understanding.

Best regards
Zhrg

Hi Z

First comment - nice you dont take anything for granted - whether in business or in life.

I had thought going back many years ago that i had nearly found my own holy grail - as my method was consistent and I grew my account well with compounding over a busy 6+ month period.

Then at my largest stake size - I had 7 + consecutive losses on day - and all the wind was taken out my sails - I was shocked and could not believe it - i had never had more than 4 bad losses in a row and thought even that was a one off over several hundreds of trades.

It took me 6 months or so to get my act back together - I nearly gave up and lost my confidence . I had to start again on lower stake size and still never been over 25 Lots a pip since that bad event - in fact nowadays I never challenge myself too much as in early 60's and just don't want the palpitations and the sweaty hands every day . I don't compound nowadays - no desire to get account up to half a million or more - instead I just want profits out at least weekly and keep my account balance steady - with enough for me to trade at 6 to 8 lot size per pip maximum.

I have no trust in the finance and banking industry after what happened in 2008/9 and a low regard for the FX trading banksters who are constantly manipulating and setting up false moves.

Its does take a lot of time - study - commitment and discipline to get there - years normally - and I reckon it will take you 4 to 8 months to fully be au fait with my method.

What you have mentioned you do on your 2 charts make sense - get into all the time rules on interim highs and lows and always be aware nothing works 100% of the time - and of course except losses buy keep them as small as possible - and hopefully you will get there

All the best


F

 

[Forexmospherian]

EA - My trades this afternoon on it

Did some live - in advance scalp trading on EA this afternoon in Sun's thread

Went well and to plan - even mentioned when to buy again etc etc

see below

EA

Over 3 hrs later

The chart above is how it started

then i posted this update after 30+ mins

Now I post this one 3 + hrs later

And one for the day on the EA

 

[zhrg]

Hi Z

First comment - nice you dont take anything for granted - whether in business or in life.

I had thought going back many years ago that i had nearly found my own holy grail - as my method was consistent and I grew my account well with compounding over a busy 6+ month period.

Then at my largest stake size - I had 7 + consecutive losses on day - and all the wind was taken out my sails - I was shocked and could not believe it - i had never had more than 4 bad losses in a row and thought even that was a one off over several hundreds of trades.

It took me 6 months or so to get my act back together - I nearly gave up and lost my confidence . I had to start again on lower stake size and still never been over 25 Lots a pip since that bad event - in fact nowadays I never challenge myself too much as in early 60's and just don't want the palpitations and the sweaty hands every day . I don't compound nowadays - no desire to get account up to half a million or more - instead I just want profits out at least weekly and keep my account balance steady - with enough for me to trade at 6 to 8 lot size per pip maximum.

I have no trust in the finance and banking industry after what happened in 2008/9 and a low regard for the FX trading banksters who are constantly manipulating and setting up false moves.

Its does take a lot of time - study - commitment and discipline to get there - years normally - and I reckon it will take you 4 to 8 months to fully be au fait with my method.

What you have mentioned you do on your 2 charts make sense - get into all the time rules on interim highs and lows and always be aware nothing works 100% of the time - and of course except losses buy keep them as small as possible - and hopefully you will get there

All the best


F

Hi Mr F

Having taking care of my self since I was 17 and only 3 times in my life worked for other people I understand what it takes to succeed on your own.

Me I don´t have any trust in the banking industry, being from Iceland we were hit rather hard in 2008/9, the country basically went broke. I lost everything in the collapse, had my self a nice business and few rental properties and almost in one night it was all gone. The country it self hasn´t pulled back since then, I moved from there, dont see any future there with the system like it is. Many educated people moving every year to another countrys. It´s a beautiful place to visit bot not to live at the moment (more expensive than Norway).

At the moment I have time to study, and I am willing and committed. I am currently an employee and I hate it. So that will change.

I am willing to do what it takes and hopefully you and Major Magnum will take me under your wing. I love to challenge my self, and the goal is to be consistent day trader with in 3 months. If that happens I will go full time.

Best regards
Z

PS: feel free to criticize me and comment hard if you see anything that I am doing wrong or might do better.

 

[NVP]

nice move on usd yesterday ..........shame I was tied up

N

 

[NVP]

nice move on usd yesterday ..........shame I was tied up

N

GBP was a dog this week ............heres the rest of the G8

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1713.html#post2662644

 

[Forexmospherian]

Monday 30th November 2015 - Pre Opens

Morning to all FX Intraday Traders and its the last day of the month.

It's a Monday and no red news during the day - but we did get some on the Yen overnight.

Guess it could be a slow boring Monday - but again I hope I am wrong.

So far one scalp sell after 6 am at 6 07/8 am on EA - had missed on on the EU slightly earlier and could see all euro crosses been bearish over last hr or so for now

I am not supplying the LiTs Areas for session bias atm - as I want any students of the method to work them out via their own charts etc.

Around for the London Open this morning and then out a bit later.

Have a good Monday and I also hope December is a great trading month for you

All the best


F

 

[Forexmospherian]

Hi Mr F

Having taking care of my self since I was 17 and only 3 times in my life worked for other people I understand what it takes to succeed on your own.

Me I don´t have any trust in the banking industry, being from Iceland we were hit rather hard in 2008/9, the country basically went broke. I lost everything in the collapse, had my self a nice business and few rental properties and almost in one night it was all gone. The country it self hasn´t pulled back since then, I moved from there, dont see any future there with the system like it is. Many educated people moving every year to another countrys. It´s a beautiful place to visit bot not to live at the moment (more expensive than Norway).

At the moment I have time to study, and I am willing and committed. I am currently an employee and I hate it. So that will change.

I am willing to do what it takes and hopefully you and Major Magnum will take me under your wing. I love to challenge my self, and the goal is to be consistent day trader with in 3 months. If that happens I will go full time.

Best regards
Z

PS: feel free to criticize me and comment hard if you see anything that I am doing wrong or might do better.

Hi Z

Certainly try and help you on your FX intraday trading journey - no problem there and with you setting yourself a goal of 3 months - that should be interesting.

A couple of questions -

What UK times are you planning to trade - or have available on a daily basis ?

What's your FX trading background - any particular methods you have already tried and at one level and for how long have your tried on a live account etc ?

Have you already read my other threads etc ?

Regards

F

 

[NVP]

im buying usd at moment ...........about 40 mins left to scalp for me

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1714.html#post2662972

 

[NVP]

storming NZD overnight , CAD GBP and CHF the dogs so far

early days ......i'll stay on usd buys at moment but ready to resell if needed

N

 

[Forexmospherian]

6 58 am

EO in a couple of mins and then LO one hr later

So far only 6 pips in the kitty - slow first hr for me - but ready for the next action

 

[Forexmospherian]

im buying usd at moment ...........about 40 mins left to scalp for me

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1714.html#post2662972

Morning N

Very slow for me this morning

I reckon I could have found 4 or more other scalps for say 3 to 6 pips net - but only taken one so far from after 6 00 am UK time.

GU just moved up 4 pips over last 2 mins for opens - so you might have got that one N

Have a good day


Regards


F

 

[Forexmospherian]

7 04 am

Missed opportunity on the EJ as a scalp buy any time after 6 33 am

I did not take it as at the time Euro looked weak on other crosses

So far it only moved up 12 pips over the 30 mins - but that's a lot early morning on a Monday - yen must be weak for now

 

[NVP]

Morning N

Very slow for me this morning

I reckon I could have found 4 or more other scalps for say 3 to 6 pips net - but only taken one so far from after 6 00 am UK time.

GU just moved up 4 pips over last 2 mins for opens - so you might have got that one N

Have a good day


Regards


F

morning gang .............depending on when people started trading the usd pairs are hard work .....at the moment I committed to usd buys so grabbed a few on bear currencies but at moment the usd is falling again so ive had to bail n most for scraps

N

 

[Forexmospherian]

Looks as thought they turned off the dollar strength tap for the first Open

Is it for 30 mins plus - or just for a false set up ??

 

[NVP]

Morning N

Very slow for me this morning

I reckon I could have found 4 or more other scalps for say 3 to 6 pips net - but only taken one so far from after 6 00 am UK time.

GU just moved up 4 pips over last 2 mins for opens - so you might have got that one N

Have a good day


Regards


F

if red GBP holds the line now and usd shows no bull bounce I will attack GU buys

N

 

[NVP]

gbp has only bagged 9 pips so far bull London so its no big deal ...the dude is neutral Day so far

 

[NVP]

buy gu

 

[Forexmospherian]

Morning N

Very slow for me this morning

I reckon I could have found 4 or more other scalps for say 3 to 6 pips net - but only taken one so far from after 6 00 am UK time.

GU just moved up 4 pips over last 2 mins for opens - so you might have got that one N

Have a good day


Regards


F

GU

7 09 am

7 pips net on that pair from 6 58/9 am - 13 pips in total in the kitty just off 2 scalps so far - so should not moan for a early slow boring Monday am

 

[NVP]

high 37....that's not enough...........hmmmmmm

 

[Forexmospherian]

The market as just 3 plans for the European Open on FX

1 - Start as scalp move 2 or 3 mins before the Hr change

2. Start it with a spike exactly on the hr change

3. Wait 3 or 4 mins after the hr - let it look slow - then start it

That sums up the EO game plan for every morning ;-)