A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

I would like to say I didn't need them so much as your entries as per your system were spot on. Yes stops tight and moved to b/e asap.
Such a great day and not being an octopus I feel I left the same amount behind.
GL all and have a great weekend.

Really enjoying this format without distractions, even if I don't get time to write I am still an avid follower.
A true master class and a gent too.

Cheers Nick - WD and have a great weekend

Going to put up a UCad chart a bit later with scalp taken by one of our alternative fans

10 pips in 3 mins was not bad - so must give credit to any trader who gets winning trades



Regards


F

 

[Forexmospherian]

GU

3 08 pm

Another new low for day now at 5187 as I type so will it bounce yet at 3 09 pm - or try 5180 ish ??

3 15 pm

bounce was minimal and now dropped in sync with EU but so far only 5182

EU nice scalp sell from 1115 - out of sync with TWs but in sync with GU and LRs and PS

 

[Forexmospherian]

3 15 pm

bounce was minimal and now dropped in sync with EU but so far only 5182

EU nice scalp sell from 1115 - out of sync with TWs but in sync with GU and LRs and PS

3 37 PM

GU now at 5175

EU now down at 1096

End of TW in 2 mins so watching for bounces etc

 

[NickBk]

Ding Ding Ding went the EU bell at 15.39 and I was nearly finished lol.

I was nearly turning off but hard to refuse the 11 pips.


Rubbish system F -))

 

[Forexmospherian]

3 37 PM

GU now at 5175

EU now down at 1096

End of TW in 2 mins so watching for bounces etc

GU & EU

3 55 pm

The bounces did start at 3 39 pm

the EU was better than GU - making so far 22 pips on a scalp buy

GU bounce from 5172/3 and only made a 10 pip bounce and i exited with just 6 pips on 70%

 

[Forexmospherian]

Ding Ding Ding went the EU bell at 15.39 and I was nearly finished lol.

I was nearly turning off but hard to refuse the 11 pips.


Rubbish system F -))

27 pips if you had stayed with it on partials - or even full stake

Nice one Nick

Enjoy your weekend and pat yourself on the back for having a brain and eyes and using them




Regards

F

 

[Forexmospherian]

Finished now - except for partials left on

Will pop back in after 5 or 6 pm

Must do that UCad chart later as well

Have a great weekend - and please any FX questions etc - feel free to put them on over the weekend and i will see if I can answer them

All the best

F

 

[MajorMagnuM]

GU

This pair had been set up for nice fall today under 5250

I had sold it a few times - and I know MM did as be mentioned earlier on

Shame about the NFP news spike stop hunting the partials or rems as MM calls about them

Still been more sells under 5230 last hour

yes i added too,then later on rems got taken by news

 

[NVP]

Ding Ding Ding went the EU bell at 15.39 and I was nearly finished lol.

I was nearly turning off but hard to refuse the 11 pips.


Rubbish system F -))

join the club.........turning off can be a nightmare :smart:

 

[Forexmospherian]

Trading Tip for the next Week ;-) - EU example from today

Finished now - except for partials left on

Will pop back in after 5 or 6 pm

Must do that UCad chart later as well

Have a great weekend - and please any FX questions etc - feel free to put them on over the weekend and i will see if I can answer them

All the best

F

6 33 pm

The comment above was posted approx 4 17 pm

Please check out comments 483 to 487 with regards to comments on EU

Call was in advance of 3 39 pm EU Scalp Buy ie 3 37 pm and NIck also spotted it took a quick scalp as finishing after an excellent day with a very high win ratio

I have started to call "part stakes" as "partials" - MM calls them "rems " and NVP calls them probably "boom" and everyone else should release that what ever they are called - they are sitting there with a stop already in profit

So what ever the markets does - you either bag a small profit - or a lot bigger one if it runs

In this case that EU scalp buy as gone up over 80 pips - and so far with multi stakes and stops in profit along with PPND - you could have trebled or five fold it in terms of pure pips - all with the safety of stops in profit at different levels etc.

BUT

Its important you know how to scalp first

Going out for a Brummie Balti tonight - might get round to UCad later - if not will post charts over the weekend

Enjoy your evening - I will ;-)

Regards


F

 

[Forexmospherian]

Imitation is the sincerest form of Flattery - Charles Colton

The weekend is here and i have enjoyed the first four days of this new FX Trading Journal

Last Monday was a Bank Holiday so we started in earnest on Tuesday after having to move on from the open thread due to all alternative Fan base -( ie the non believer's or has another member here has quoted on another thread - the "HMS Misery" crew and all who sail with them) - basically taking over the thread and putting off any new followers.

At least with this new journal its now controlled - only genuine non multi nic members will be allowed to contribute and take part etc.

I already have a few pending multi nics awaiting to join my "friends" list but they stand out like a "sore thumb"

I have stated this journal is not for newbie FX traders and ones really with less than 12 -18 months of trading experience - believe me you can spot them as well just with a few small hidden tests etc

Ideally - you need to have been FX trading a couple of years plus - with a real account and realise that you are making 2 steps forward and then 3 steps back and basically going nowhere. Please go on one of my other previous threads and request entry along with just a brief updated profile about yourself etc.

Normally Multi nics never show any info in their profiles - so obvious.

I can help you change that - totally free of charge - just your commitment for anything from 4 to 8 months of carrying out and going through all the stages needed to end up FX intraday trading with consistency and most importantly - being profitable.

There is no false or fake statements being shown here - unlike on many other threads.

I will never show anyone my own previous statements from over my 7 + years of full time FX trading - nobody would believe them anyway - and say they are all doctored or fake etc etc. My "ego" is saying - show a few - but my "discipline" which also plays a major role in trading says - you cannot do that - you have agreed and committed to a pledge to other parties that they would remain private and confidential.

That means - my alternative fans will say - OK - 1 - He cannot trade - 2 - He's demo only - 3 - He's had loads of losses and his results are no good - 4 - He's a fake - 5 - He only making £200 a week etc etc etc

Thankfully - all the above is rubbish - whether I make £200 or £2000 or £20k per week from trading is non of anybodies business and also is totally irrelevant for this journal - as its free and I am not charging anyone anything.

What is more important is genuine statements from my students who go through all the stages.

They will provide the real answers .

Ideally i need at least 5 followers to get there - Major M was the first and he has provide genuine non faked records of his performances on demo originally and a small live account.

I have advised him in the future and when he goes FT with a larger account not to show any more to any forum and would advise the same to all other traders who get there.

Sun11 is also providing her daily performance records - genuine - no fakes etc.

I will be welcoming more to try it etc and I am delighted to say one of alternative fans was obviously trying the method out yesterday on the UCad

More about that later on

Enjoy your weekend

 

[Forexmospherian]

Imitation is the sincerest form of Flattery - UCad - Friday 4th September 2 09 pm UK

I did not trade the Ucad that much yesterday - again preferring other pairs such as the EU / EJ and GU

I had set out the LiTs area on it pre 7 00 am for the Am session

For the UCad - it was 3180 to 3210 price area

Basically that was saying we should look more under 3180 for sells and over 3210 area for more buys.

Now that might be at 7 00 am in the morning a bit of "fortune telling" - ie more like the 4 hr / day monthly gamblers rather than for an intraday 12 hr session.

So once you have the LiTs area - normally anything from 20 to 50 pip range - you then put your Scalping hat on and start thinking every 30 mins and TW's etc

Also most important you time rules for interim high and lows - key to help you with the other clues for "fortune telling"

So if we don't go under 3180 and stay there for 30 -35 min - but instead stay above the level for over 35 mins and over an hour - that favours a reversal

Similar if we go over 3210 and stay over then for over 30 -35 mins and 60 mins - that favours higher and buys.

Many might say - that's a bit complex - having to consider time with TA - but really its not that complicated - especially if you really understand PA on the short frames and in the "noise" and at the "coalface".

Lets have a look at the UCad chart for yesterday then

Notice the levels and the price structures and of course the time

Notice in red a 2 09 am sell - yes - a KT and a sell from our friend and alternative Fan team -

You must always praise a scalper with a winning trade

So WD Tar - must like that call - at a KT in a TW - it made good pips in a short term and i just hope he was on a 5 pip stop or under so he can claim a winner with a RR of 2 or more in under what 5 / 10 mins - excellent efficient trading

BUT

We were then going to go above the LiTs area - maybe not got to that stage of the course and as we said at pre 7 00 am in the morning look for buys above the LiTs

Now if he done - he could - and should have made over 70 pips and even if he was trading after 6 00 pm another 40+ pips - and if he was PPND ing well - anything from 200 to 500 pips after that scalp the rest of the day.

Did I make over 200 pips on the UCad yesterday? ......... NO

Did I make that off other pairs ? ..........Yes

What time did i finish ?........ Before 4 30 pm with scalping with just partials then - all with stops in profit

Do the LiTs help me make more money than just scalping?........Yes - of course

Will I be showing any students etc how to capitalise on LiTs area during the next 4 to 8 months or so ?............ Yes - of course

Enjoy your weekend

Regards


F

 

[Forexmospherian]

Wrapping - 2 methods on LiTs and Scalping

I am sure you might have heard me mention a few times about "wrapping" - ie in its true form it placing pending orders either side of a Price area and taking advantages of B/O's or false B/O's and even double or treble whammy play if done correctly.

Most traders who wrap generally set their pending orders well away from intraday type noise and concentrate on say major areas - ie On the EU they might have pending orders to buy at say 1540 and 1620 and 1700 and pending sell orders under 900 and 70 and 400 etc etc

Normal swing traders might chose above yesterday's high by say 20 pips and place pending buys or pending sells 20 pips below yesterday's low.

I "wrap" differently - as you might guess.

Already I have called 3 scalp wrap prices on a couple of pairs - with the one on the EU basically 3 pips apart ie scalp buys above 1262 and scalp sells under 1259 as an example

This can be done at a key important intraday price level - and I find them off my LR price structure with the help of interim S & R - which is course is different to normal pivot levels.

With the LiTs areas - they can be as tight as 15 pips apart to up to 50 pips on a pair like the GJ. Normally 20 -35 pip is adequate.

If you use limit or pending orders - then you have to be careful with stop size - especially if you have set it up just 2 or 4 pips above or below a key level.

I prefer live market orders for normal scalp stake entries ( 100% stake) but if you wrap with say 30% stake size you can use a limit/ pending order with a 10 or 15 pips stop giving you more leeway on the false play.

Of course - it will all depend on the time your pending order is activated - that's another key to whether it will work - but that is complex and I don't want to give traders headaches to early in initial stages of the concept .

Next week we can discuss some "wraps" on LiTs levels


Regards

F

PS - not away next week - in the week after

 

[Forexmospherian]

A Real Genuine Example of FX Intraday Trading

I advise any trader who eventually becomes a Full Time Trader and using a real Capital account over over $25k + to never show their statements on a Forum

There are many reasons for this - but I dont want to go into all of them at present.

I do think its important though that anyone who wants to follow my method understand the type of results to expect of a £1000 live account.

This is a typical example of Major M's present performance for one day last week

Because he multi stakes I cannot get all his part trades on the one page - but I have just shown the part with the main result on a £1k live account.

No way do I expect traders to carry on 20 to 50% gains every day - even on stakes sizes kept to under 2% - but there again I don't expect intraday traders to take over 30 trades in a day with up to 3 entries per trade - SO like 90 exits

On a lot larger retail account with no compounding ( so many just dont get this reason ) I think anything around 5% a day using 0 3 to 1% stake size is excellent.

The key is consistency - ie 10 -20 + trades a day session- win ratios between 65 and 85% - any loss kept to ideally under 0 5 or max 1% using tight stops and of course RR from 1+ to the odd 7 and even 10's with partials.

Please be 100% assured - we don't leave any partial trade open without a stop in profit - where that be 1 day or 1 month

OK - many will say this is cherry picking - but don't worry there will be others genuine statements from other genuine follower who will show similar types of performance

 

[NVP]

I advise any trader who eventually becomes a Full Time Trader and using a real Capital account over over $25k + to never show their statements on a Forum

There are many reasons for this - but I dont want to go into all of them at present.

any trader who has played at those levels will probably understand most of those reasons F

N

 

[NVP]

sorry to be a pain but have you mentioned how you get to the LiS's at all F ?

naturally we can all estimate these by using key historic S/R levels but I was wondering if there was anything else you were looking at

N

 

[NVP]

I think it would be great to get a few more Turtles** to join F's group........

c'mon people ...F wont bite

N

The Legendary Turtles experiment**
http://www.investopedia.com/articles/trading/08/turtle-trading.asp

 

[Forexmospherian]

sorry to be a pain but have you mentioned how you get to the LiS's at all F ?

naturally we can all estimate these by using key historic S/R levels but I was wondering if there was anything else you were looking at

N

Hi N

The LiTs area is dynamic and is based on a combination of fixed static intraday pivots along with the LR structure taken from the longer 3 LR setting.

Depending the the currency pair and the previous 18 hrs of movement the LiTs area might be anything from just 20 pip to 50 pips for pairs like the GJ. If the price is in the actual "area" then basically we are waiting for it to break out one way or the other which will normally happen after 8 00 am UK time. On trending days the the moves can last 6 to 8 hrs + but Lunchtime news releases can see full reversals

A great example yesterday would be the UJ - its stayed under its LiTs area the whole day session - even including the NFP spike.

With regards to the "Turtles" experiment - I think a more apt name for followers of my method would be "Vultures" - or maybe for the high flyers - "Golden Eagles" ;-)

Sky TV documentary to then follow ( lol)

Regards

F

 

[liver1234]

I have enjoyed reading your thread.Ive been trading about 4-5years wuth pivots and breakouts. Im getting a bit more patient now.

 

[Forexmospherian]

I have enjoyed reading your thread.Ive been trading about 4-5years wuth pivots and breakouts. Im getting a bit more patient now.

Hi Liver

Thank you for the comment and you are welcome to please join in with your charts and thoughts etc. Believe it or not - you do need patience even to be a scalper = ideally waiting to cherry pick larger scalp moves of 10 -25+ pips rather than just staying with quick 3 -7 pips - that can be happening many times over a busy 30 min period.

I am sure you might find my LiTs areas interesting for swing trades that can start off from a KT scalp and so end up being taken of a 5 pip stop. Also trades from interim lows and highs

We caught one Friday afternoon on the EU at 3 39 pm from 1097/ 1100 area

It started off as nice bounce / retrace from an interim low area and after 30+ mins confirmed it strength and then went on to be a great 60+ pip move back up.

What pleased me - I was not the only one on the thread who spotted it and NickBK posted his chart showing his multi LR crossover within a few mins of it starting off.

Have a great week and any queries etc - please feel free to ask and also join in etc

Regards


F