Hello Forexmospherian,
Here are the details:
Now I start trading from 6:30-7 AM UK time. From there I stay up for 2-3 hours, then break then start again from US session. Generally 90% of the time, my day finishes during start of the London session.
If everything is ok or I get loss during London session & took a break back in US session, then stay up for more 2-3 hours.
I am can provide full time , no problem...But the market booted me out earlier that's the problem..:whistling
Since the day I started trading intraday in Forex, this is the pattern. When I used to work for a prop firm in last year, My trade used get finished during the European session. I feel like after 14:00 UK time, I will not get much move.
About my Best & worst Trading days..& other details.. Here I attached. Please take a look.
Thank you
I have attached, Trade duration, Most traded currencies, Hourly & daily statistics.
Hi Sun
Thank you for your stats - and I mentioned earlier on today I would come back once I had time to review them in more detail
First point - am I correct to say you are approximately 5 hrs ahead of UK time - so 8 am UK time and the London Open is 1 pm approx in your location??
Ideally 8 am to 9 30am UK time is normally more important than say 6 00 am to 7 30 am UK time - not always - but maybe over 70% of the time you get better moves once both the European and London markets have got going.
Personally for me I start from 5 51 / 6 00 am UK time ( 11 am your time ? ) in normal times and expect to make 3 or 4 scalps before 8 00 am - some mornings I might just make 10 -15 pips - other mornings - 25 -35+ pips before 8 00 am
From after 8 00 am to 9 30 am - that ninety mins when I am about can be a busy period - doubling up or even quadrupling my first 90 mins.
I rarely have taken more than 10 trades by 9 30 am - most days 5 to 8 trades on maybe 2 to 4 pairs.
9 30 am UK onwards - unless pound or euro news is then boring for next few hrs - not every day - but over half the time
Next key time is over lunch - 5pm your time and after 3 pm UK - 8 pm your time and night time - so maybe too late in your trading day.
Its so important to be around at the right time windows and having patience or doing other works at slack times etc - unless in trades that you need to watch
You want ideally just 25 to 35 pips - a nice daily target - ideally needing 3 to 5 winning trades and no losses or with losses on a 65% win ratio then maybe 10 to 12 trades including 3 to 4 losers costing you in total no more than 20 pip max.
Remember most of our scalps last 5 to 15 mins and ideally you target 7 to 25 + pips.
If after 1 or 2 mins its not looking as good - or you think you have entered wrongly - still try and get out plus 1 or 2 pips - never wait for minus 5 or 7 pips.
We need to walk through some trades on a live account together and that's the next step.
I worry that you are being always caught out in BTTZ areas and the EU is not helping you every morning
I think you might be covering too many pairs - how about just scanning 3 or 4 pairs instead of 6 + for next few weeks . Try and make the EU only a third of your trades - look more at GU and maybe if you are ready the EA ?
In fact its been your best earner - that's good - AU and UJ I find too slow most of the time - but all we want is you getting winning trades of ideally 5 to 15 pips within 10 to 20 mins.
Do you feel you understand the LiTs bias for the morning after the Opens??
You say you are OK with the time rules on interim lows and highs - and are your quick Lrs for scalping on 8 or 9 setting than 12 /13 next ??
As you know - every morning can be different - and all the tricks and games we need to be able to read and stay away from - ie false b/o's and false sentiments on bias that are just manufactured to get bull or bears in - before the turn.
I found this morning a difficult one - so I reckon you would not have liked it anyway. Then later on in the day we had numerous lovely set ups on many different pairs.
If you can get your bias correct - and say its up - you just wait to line up scalp buys at the right times
If the LiTs bias in bear - opposite
I need to see your chart again tomorrow morning to check everything looks OK etc along with those long LR settings.
We will get you there - step by step - but remember when you have say 10 or 15 winning consecutive trades - don't think you have cracked it for ever - its just means you were in your proper trading zone and reading that part of the session correctly
See you around in the morning and lets see how things go
Regards
F
