A Master Class in FX Intraday Trading by F & Co

[sun11]

129 22 to 29 is all R area

Not got a tick chart to check out though

Driving back in next few mins - see you later

Sold from 19 based on 1m chart. Market is fluctuating. This is my last trade in this session. I will come back after 80 minutes.

See you..
Drive safe.

 

[sun11]

ok lost that sell trade from 19.

 

[sun11]

I don't think EJ is 129.29 is any more R area.

 

[Forexmospherian]

I don't think EJ is 129.29 is any more R area.

Morning Sun

Back now at my desk with my full set up

Shame you sold EJ at 19 - it was not a sell then - still a buy and agree 22 -29 was not string enough resistance to stop the move carrying on up

So first question - you sold and it was not a sell at 19

Why was it not a sell ??

in a nutshell - on a tick chart or even 1 minute - the price action had not gone to LH's and LL's

For it to be a sell we needed to drop out under TL based on last 5 -15 mins and that meant price needed to go under 129 12 and 09

It pulled back at 19 to approx 16 - but then PA at 8 10 am UK time did a HH and HL on a 1 min and also the Key Lrs for scalping said scalp buy from 21 to 35

Ideally if you entered at 19 -

1. You either got out asap - losing just minus 1 or 2 pips

From 21 onwards you scalp bought

The signals after 8 10 am on the EJ were all buy

Ok R from 22 to 29 could have stopped the move up - but the price action was stronger than the resistance - PA and momentum and buying bulls won

Hopefully - thats another lesson on scalping - PA along with LR's and for a reversal - you need to see a proper change / crossover - not just a 1 or 3 pip pullback that does not make a LL or a HH etc etc

 

[Forexmospherian]

8 57 am

Euro crosses

I notice the EU and EJ have gone back into bull land after starting before 7 00 am in bear land price structure

Luckily the EA - the pair i scalp sold twice and left partials on - as stayed in bear land - ie bear price structure under its LiTs

That shows the AU must have been stronger - making sense with a weak dollar you get rises on AU / EU / GU

Hope this makes sense to traders ??

 

[Forexmospherian]

EU

9 00 AM uPDATE

lITS AREA around 0900

BUT

we need above 0915 and 20 to stay with scalp buys and move into a proper bull PS

Under 0900 and 0890 - back into a bear PS

 

[Forexmospherian]

Sun

Ok - what pair or pairs do you want to scalp today on a tick chart ??

I will show you my EA sets ups as promised earlier - as they have been great on a 1 min and tick with basically a 100 pip drop from 6 00 am in next 15 mins or so

 

[sun11]

I messed up everything today..
My daily pl is -35. all because of EJ. I hate this pair now. I am no longer trading today. Out.
Unfortunately this loss is not recoverable. On my main account is 100+ pips loss. I don't think i will recover this. So upset on myself. I hit my freakish level now.

 

[Forexmospherian]

I messed up everything today..
My daily pl is -35. all because of EJ. I hate this pair now. I am no longer trading today. Out.
Unfortunately this loss is not recoverable. On my main account is 100+ pips loss. I don't think i will recover this. So upset on myself. I hit my freakish level now.

Hi Sun

Sorry to hear and agree best to stop trading atm - as your head and mindset is not in correct setting for now - as you are annoyed and frustrated with yourself - and I do understand

I can see you still have quite a bit to take in on live trading

On demo - you mindset is OK - your logic is fine and you operate in control and with discipline

In live account - your past baggage and mindset is making it totally different - you are not scalping correctly and you are therefore frustrated

I can tell you now - Both myself and Major M have been there and got the T shirt

Me many years ago and it took me 6 months to get back into conssitency and if you ask MM - he went from brilliant on demo - sheer brilliant - to a bad spell on a live account that knocked his confidence back. He's regained his composure live - but still taking it step by step - not suddenly going from say $5 a pip to 2 or 5 lots - as that can cause havoc with your confidence if you have a bad few days or weeks

Remember you only started the tick chart yesterday - You are not used to it and so I can understand you having losses

Please have off as long as you need 1 or 3 days - its does not matter - we have months to get you right

For important part is for you to regain confidence / control and most importantly - DISCIPLINE - today to lose 35 pips - meant you were out of control and spiraled

If the worse come to the worse I could give you 50 trades over next week or so and get you back in profit - and I am prepared to do that

Trouble is - you are not learning just copying me saying buy this or sell that

That's why I need you to stay in control of your own trading - even if it means back on demo for 2 or 5 days

As you have said - you will be fine on demo and have winning days and are disciplined etc

We can get you like that on live - but not how you have been operating this last week - your scalp logic as not been correct - you are making incorrect decisions - basically because of the pressure you feel under

Take that away and then all what you have learnt - and will carry on learning will make you successful

Regards


F

 

[sun11]

EJ is bullish pair completely.

 

[Forexmospherian]

OK - back to trading today

Pound news at 9 30 am

Lets have a look at this pair for news next

 

[Forexmospherian]

EJ is bullish pair completely.

Will post a chart on EJ - Sun and will explain next

Lits area 129 25 to 30 approx

That the critical area

Under there sells - as from after 5 am to EO

Above Lits - buys

So above 129 25 to 30 we went into a bullish PS

Similar on EU - that was bearish pre both opens

Thats why Opens are important - they can change price structures

They did not on EA - but have done on EU and EJ

GU STILL in a Bullish PS atm above 4240 and 50

 

[Forexmospherian]

GU

9 26 am

news in 4 mins

We need above 4285 and 4300 to keep scalp buying and for price to drop under 4240 and 30 to go into a bear structure that would then favour sells

 

[sun11]

Ok F, I read all of your post. Pardon me if If I copy your trade. Actually it's scalping, generally I took the trade already then post here & ask about view. Otherwise if wait, it might miss the trade. Anyway i will figure out something about it.

May be i need to share my view in advance, for example looking for sell around x area. If I am wrong then you can correct me. Today i was very fast. Thats why its happend. Need to slow down things.

I will see you tommorow..
A fresh start. I could have traded today during US session. But -35 pips will create effect on me. So tomorrow. Although it's very silly. Each trade is random.

But need to study tick chart. I loose track of it along with one minute chart lit's areas.

 

[MajorMagnuM]

1 mins

 

[Forexmospherian]

GU

9 30 NEWS

We had the bounce up from 4351 area

We need over 85 and 4300 to stay with buys

Pullbacks ideally need to stay above 58 / 60 to buy again

 

[MajorMagnuM]

nothing structure breaking yet gu

 

[Forexmospherian]

Ok F, I read all of your post. Pardon me if If I copy your trade. Actually it's scalping, generally I took the trade already then post here & ask about view. Otherwise if wait, it might miss the trade. Anyway i will figure out something about it.

May be i need to share my view in advance, for example looking for sell around x area. If I am wrong then you can correct me. Today i was very fast. Thats why its happend. Need to slow down things.

I will see you tommorow..
A fresh start. I could have traded today during US session. But -35 pips will create effect on me. So tomorrow. Although it's very silly. Each trade is random.

But need to study tick chart. I loose track of it along with one minute chart lit's areas.

I will help you Sun - and turn your account into profit

No Problem

I need to teach you more and even today I am going to give you more basic tips etc on how we approach every day

I am sure it will help others as well

I will never be 100% correct - but my trading logic - means I have everything covered so when something goes wrong and we go into another price structure - i change my scalping to match the bias

Above 129 30 / 35 + was 100% buy land on the EJ

I wanted to sell 22 to 29

That failed and I might have sold and lost 2 - 4 pips

But I THEN would have bought and made 30 -35 pips ;-))

 

[Forexmospherian]

nothing structure breaking yet gu

Morning MM

Just explaining to Sun - we have all been there on live accounts and losing confidence and having really bad days with our brains in total BAD trading zones

But whether its takes 1 week - 1 month or in my case 6 months - we get back to normal and go on to do even better

Have a good day

GU for me as been buys

 

[Forexmospherian]

EJ - LiTS AREA for Sun etc

EJ

1 min LR Chart

see than main long LR - flatish

Above and below on bias of price structure

I have marked LiTS in a rectangle as a guide

I am sure you can see that i would have wanted to sell 22 -29 area - as under Lits

Over 30 and 35 - different ballgame - as shown