A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Pound crosses

9 07 AM

GU and GJ in bearish PS under their LiTs atm

GA - bullish and just moved up approx 75 pips from its low over the Opens

So all out of sync atm

Will give you some levels we need nearer the news in 22 mins

 

[Forexmospherian]

GU

9 12 AM

Last scalp buy was 8 57/ 58 am from 5027/28 area

Its in a bearish PS but could easily bounce up 20 -30 pips if manipulated correctly by MM's

Supports are from 5000 to 5022/25 area

Can you trust this pair this morning

NO WAY -

Will I trade it after news yes

Ideally if under 5020 and 5000 for scalp sells - or scalp buys if we really try over 5060 and 70

In between - there are safer pairs to scalp - but then and although it should drop more - I am wary of it - being no gambler

 

[Forexmospherian]

EA

9 19 AM

SO far moved up nearly 90 pips from just before LO at 7 50 am ish

Moving my 30% stop in profit buy up tight before Pound news at 5054 - just to lock in 60+ pips of profit.

Even at 30% stake size its like a 18 pip scalp at 100% stakes - but nicer - as no pressure or risk whilst stop was in profit all the time

 

[Forexmospherian]

GA for 9 30 am news

Above 0800 its bullish on pullbacks - not like GU or GJ - both in bearish PS

Need over 0870 and 80 to scalp buy more though although if it does drop down 40 pips and stays above 0800 - we can still look for buys again

 

[Forexmospherian]

GJ - for 9 30 am news

Bearish like GU - just made a new morning low at 184 72 area

Pullbacks staying under 185 10 are sells again

Above 185 15 and 25 - look for scalp buys

GL

 

[Forexmospherian]

9 30 am Pound red news

Pound bullish from 5000 but need over 38 and 60- for a full turn up

 

[Forexmospherian]

Price structure says GU should not go over 5038 or 5050 / 60 atm - but remember this was a pre news set up manipulated into position by market makers and players

We might turn above 5000 now - its not that strong atm - but remember how the game works

Can we stay over 30+ mins and then 60+ mins with no breach under 5000 - that's one of the clues

GA made a new high - but hardly a strong move

 

[Forexmospherian]

[/B]

EJ

8 44 AM

So far its made 133 88 - and after 8 21 am it was a scalp sell

..............................................

EJ

9 42 AM

80 mins later - still been falling from 8 21 am and 133 88

Trouble is only dropped 30 pips in that time

Now 133 50 to 60 is all support area - so we might get a turn again


Off out in 10 mins


Will pop back then before Lunch time for update


GL

 

[Forexmospherian]

EU - Tuesday's AM session so far

EU

11 22 PM

Its not been as easy as the EA - but I noticed its nearly moved as much as the EJ - with a 25 + pip rise pre Opens and then a 40 pips fall

In comparison with the EA - that pairs made a nice 30+ pullback before the opens and then went up over 85 pips - before doing a nice 60 pips drop

So out the 65 + pips available off the EU on 2 main moves - if you have got over 30 pips you have done well - and then looking at the same theory on the EA in the same time its made 3 main moves totaling 175 pips - approx half that - say 85 pips and I am sure you would be delighted - that's why I prefer tp major on the EA rather than the EU - but then again I dont ignore it - I get my scalps and then leave part stakes on hope some work out.

On the EU now we really do need under 0840 and 30 to sell more - otherwise back into a 50 + pip range and boring again


EU

12 30 PM update

We never went under 0840 and 30 - we stayed above and after 30 + mins and the 60 + mins it was saying bull bias from time rules and LR's going under price

We need over 0875 and 80 - otherwise we look to sell again as in a 50 pip range as already mentioned earlier on

 

[Oscar Reed]

Hi F and N

Hope you both well.

Do you change size on entry.

Or do you keep the same size all the time.

Just wondered if you see any merits on changing size.
High probability trade or trading bloody well on the day.

Goodnight
Oscar

 

[sun11]

Today my daily pl is around -4. :X
Only last option is EU selling around 858.

 

[sun11]

Today my daily pl is around -4. :X
Only last option is EU selling around 858.

All right it moved only 2 pips in favour ...wasn't enough for me..so out for -3

 

[Forexmospherian]

Hi F and N

Hope you both well.

Do you change size on entry.

Or do you keep the same size all the time.

Just wondered if you see any merits on changing size.
High probability trade or trading bloody well on the day.

Goodnight
Oscar

Hi Oscar

Yes i do change stake sizes - all according to the time of the day and whether I have had a good week or not etc etc.

Yesterday - I had a couple of trades on the EA when I had 130% stake on a buy - 100% off a scalp entry and 30% already on a partial stake buy with stop in profit.

I have on some busy days when I have got my daily target out the way ended up with 3 trades on and then a new scalp all in same direction.

That might be 2 x 30% stakes + 2 x 100% stake all within 25 pips from start of move - but my exposure is not like 260% as 3 of the trades all have different stops in place with them all in profit.

I base my logic all on how much profit I have to still risk - ie daily target 50 pips

If I am up at 82 pips and think OK I stop if I have 4 losses in a row ( ie minus 20 pips max) but I can still say OK will risk 2 more trades at 150% size -- instead of 4 .

I am not tempted on a bad or low pip day to double my stake size - in fact I then go into risk averse mode and play safe etc


Regards


F

 

[Forexmospherian]

All right it moved only 2 pips in favour ...wasn't enough for me..so out for -3

Hi Sun

whats your latest spread costs atm with this latest broker ?

Also normally from 10 00 am UK time to 11 30 am is not always a good time to trade - to many BTTZ areas and slower

Its between 7 am and 9 30 am UK time the key time to catch those moves - how did you do then ??


Regards


F

 

[sun11]

Hi Sun

whats your latest spread costs atm with this latest broker ?

Also normally from 10 00 am UK time to 11 30 am is not always a good time to trade - to many BTTZ areas and slower

Its between 7 am and 9 30 am UK time the key time to catch those moves - how did you do then ??


Regards


F

Its 12 PM now I guess.

this is an ECN Broker, spread 0.1-0.5 on EU.

last trade was +3 profit..but wasn't enough..so closed with -4 again.



Ending day with -16 pips loss.

 

[Forexmospherian]

Its 12 PM now I guess.

this is an ECN Broker, spread 0.1-0.5 on EU.

last trade was +3 profit..but wasn't enough..so closed with -4 again.

View attachment 208568

Ending day with -16 pips loss.

I can see were you are going wrong

When you have a trade only make 3 pips your way and then its stalling

Just exit and ideally you have 1 or 2 pips

Then say - no it was not a good trade but I did not lose

You are entering and then taking losses of minus 3 or minus 5 - dont wait - if you dont get it move 5 or 7+ pips - just exit

Far better to exit with plus 1 or 2 pips then minus 3 or 5

Then revisit why you are not finding better trades

As you know - the EU is not the easiest pair at some times of the day

Best scalp buy in last hr from 11 09 m time - otherwise i would not have bothered if you missed it - as after 11 30 pm - its just in a tight range and going nowhere

All little tips - but the difference between profit and loss


F

 

[Forexmospherian]

How did you find your trading Sun from say 8 am to 9 30 am UK time on the EU / GU / AU / UJ ??

Have you caught any plus 7 or 10 pip moves today ??

If not - review your morning and think - why not ???


Regards

F

 

[sun11]

I can see were you are going wrong

When you have a trade only make 3 pips your way and then its stalling

Just exit and ideally you have 1 or 2 pips

Then say - no it was not a good trade but I did not lose

You are entering and then taking losses of minus 3 or minus 5 - dont wait - if you dont get it move 5 or 7+ pips - just exit

Far better to exit with plus 1 or 2 pips then minus 3 or 5

Then revisit why you are not finding better trades

As you know - the EU is not the easiest pair at some times of the day

Best scalp buy in last hr from 11 09 m time - otherwise i would not have bothered if you missed it - as after 11 30 pm - its just in a tight range and going nowhere

All little tips - but the difference between profit and loss


F

Ok 1-3 pips profit & stalling == Instant Exit.
Got your point. let see tomorrow..

Good day..

 

[Forexmospherian]

Are you reading time rules OK on interim highs and lows

ie EU low at 10 30 am ish

after 30+ mins still not made another low - but just teased - and so from then on favoured higher after 11 09 am UK time

 

[Forexmospherian]

Ok 1-3 pips profit & stalling == Instant Exit.
Got your point. let see tomorrow..

Good day..

Dont worry it all part of getting your confidence back on live trading

It might take 2 weeks - or 2 months - but we will get you confident again and feeling in control - then you will prosper etc

Regards


F