A Master Class in FX Intraday Trading by F & Co

[sun11]

Morning Sun

EA as done over 30 pips for me on a scalp buy already and GU 6 pips off a scalp sell - but as you say market slow atm and US Bank Holiday this afternoon - but with red EU news after 2 00 om

Its a Monday - so go careful Sun

I am only here to 7 40 am UK time and then after 11 00 am to maybe 2 30 - 3 00pm

Have a good week Sun - stay focused and in control

All the best


Peter

Hello Peter,

Thank you,

Today when I started earlier from EO, I had strange feeling that market will fall from 1228 EU.
But didn't trade, infact didn't trade at the morning, being careful about monday morning plus was doing some studies on PAC. Just logged in now, seeing EU did fall from there.
Now did a wrong entry form a double top on EU. Instead of buying from 1206 i should have sold it.

Doing some extensive studies on PAC these days because more I will read it, it will produce better result. Plus it will help me to grow confidence. I just need 25 pips per day on average, keeping drawdown at 15. I don't think it's too much to ask for, right? :innocent:

Have a nice day..
Regards.

 

[Forexmospherian]

Midday Update

GU - EU - even EA still falling for now

Hope to be back after 1 00 pm or so and will see if its worth trading after 2 and 3 pm or not with US on a Bank Holiday

See you later

F

 

[sun11]

Lost 4 pips on EJ sell trade, enter from 12:04 bar. Now buying.

 

[sun11]

Lost 4 pips on EJ sell trade, enter from 12:04 bar. Now buying.

Now lost that 4 pips too. Total 8 pips loss under 10-15 minutes.
Out..!

 

[Forexmospherian]

GU

6 45am

In a Bullish PS above 4500 for me so on pullbacks would be looking for scalp buys

6 38 am from 4530 was a scalp sell

GU

Update pre 2 00 pm

In the end we could not stay above 4500 and so far dropped down to 4455

We need to stay under 4495/4500 for more tries on supports at 4450 -66 area

 

[Forexmospherian]

Now lost that 4 pips too. Total 8 pips loss under 10-15 minutes.
Out..!

Hi Sun

Sorry to say it - you picked a BTTZ area again

Set you wrap targets either side the tease range - and never get caught on taking quick opposite scalps - as you did

Will explain a bit more about this - maybe later today or tomorrow - as it fits in with "wrap intraday trading" after coming out of a BTTZ area

Regards

Peter

PS - read what you said about EU and you were correct on direction - but always seem to want to take scalps against the intraday session bias - which under 1335 and 1320 and then 1300 was clearly bear this morning.

You really should only scalp both ways when you are back to full confidence levels on your live account - as its not easy and you need to be in the zone with your scalping averaging over 65-70% win ratios on batches of 100 scalps

So ideally this morning the only scalps you looked for on the EU - were sells - similar with GU under 4500 - as in a bear bias now again

 

[Forexmospherian]

Hello Peter,

Thank you,

Today when I started earlier from EO, I had strange feeling that market will fall from 1228 EU.
But didn't trade, infact didn't trade at the morning, being careful about monday morning plus was doing some studies on PAC. Just logged in now, seeing EU did fall from there.
Now did a wrong entry form a double top on EU. Instead of buying from 1206 i should have sold it.

Doing some extensive studies on PAC these days because more I will read it, it will produce better result. Plus it will help me to grow confidence. I just need 25 pips per day on average, keeping drawdown at 15. I don't think it's too much to ask for, right? :innocent:

Have a nice day..
Regards.

Hi Sun

Covered EU in last comment and with regards to target of 25 pips a day - then yes as long as you always have a minimum of 3 hrs a day to intraday trade - it will be easy when you get your confidence back

Many early mornings before 8 30 or 9 00 am UK time I get my 50 pip daily target in - sometimes even within 60 or 90 mins

Other days if I get to 9 00 am and only on say 20 or 30 pips - its because I have had 2 or 3 losses and missed the main movers - normally for me - EA and GU and then EJ

On rare days - I do have to do 3 or 4 part sessions of 60 to 90 mins to get my 50 pips - and that might be spread over a 10 or 12 hr trade window. That because I do have the odd days of 4 + losses - some times even 3 in a row - and then if the market is also slow - it becomes difficult - but then for me that might be less than 2 trading days a month

On the good days - when I make over 150 or 200 pips+ in a day - not all the pips will be on full stakes etc - but - those days are the cream on cake etc - just like when you will get to say 29 pips - risk one more scalp and it wins and and then you say OK will only risk another 5 pips and you have 5 consecutive winners and end up with 90 + pips in your kitty - That will happen ;-)


Regards

Peter

 

[Forexmospherian]

Draghi speaking on EU in 3 mins and US off this afternoon

 

[Forexmospherian]

2 08pm

EU

dropped to 1170 pre 2 00 pm news and since then bounced back up to 1186

On my tick set up on EU - 1173 / 75 was the scalp buy area

Need over 1195 to stay with scalp buys and pullbacks to stay above 1175

 

[Forexmospherian]

2 40 pm

US off and its all slow atm##

Will pop back within an hr or two just to see if crafty europeans start moving price around again

see you later

F

 

[Forexmospherian]

2 08pm

EU

dropped to 1170 pre 2 00 pm news and since then bounced back up to 1186

On my tick set up on EU - 1173 / 75 was the scalp buy area

Need over 1195 to stay with scalp buys and pullbacks to stay above 1175

EU

3 30 pm

An ideal example for Sun on "Trade Intraday Wrapping"

to carry on buying again - we needed to see over 1195+ ( we touched 1194 just about ) and then stay over 75

That did not happen - ie no over 1195+ and we did not stay over 1175

So you thenhave clues for a sell - already confirmed if we drop under the low of 1170

I dont look at buys again at 1169 or 75 - as without going over 1195+ its still a sell

As soon as under 1175 and 1168 are breached around a key time ie 2 39 pm - that for me confirmed another sell

Now nearly an hour later price as been down to 1128 ish and under 54 is still a sell for now until a low holds for over 30 mins

Hope that makes sense


F

 

[Forexmospherian]

GU

Update pre 2 00 pm

In the end we could not stay above 4500 and so far dropped down to 4455

We need to stay under 4495/4500 for more tries on supports at 4450 -66 area

GU

3 40 PM

We stayed under 4495 and breached supports at 4450 and so far dropped to 4426/7

Not to bad with US on a Bank Hoilday

 

[NickBk]

EU

3 30 pm

An ideal example for Sun on "Trade Intraday Wrapping"

to carry on buying again - we needed to see over 1195+ ( we touched 1194 just about ) and then stay over 75

That did not happen - ie no over 1195+ and we did not stay over 1175

So you thenhave clues for a sell - already confirmed if we drop under the low of 1170

I dont look at buys again at 1169 or 75 - as without going over 1195+ its still a sell

As soon as under 1175 and 1168 are breached around a key time ie 2 39 pm - that for me confirmed another sell

Now nearly an hour later price as been down to 1128 ish and under 54 is still a sell for now until a low holds for over 30 mins

Hope that makes sense


F

A super example of your method F.
The low held for 30 minutes and then we had a few easy points on the way back.
Good luck.

 

[sun11]

Morning,
looking at the EU.
EU Bearish: Bullish above 1183.

Now if I want to sell then from where shall I sell?
1156-1160 or below 1146 ?

 

[Forexmospherian]

Tuesday 16th February 2016 - Pre Opens

Morning,
looking at the EU.
EU Bearish: Bullish above 1183.

Now if I want to sell then from where shall I sell?
1156-1160 or below 1146 ?

Morning Sun

Ok - lets look at the EU ( If you have too - lol)

Well for a start - yes its still in bear bias PS under 1190 - BUT

For now its a scalp buy above 1150 - and low held well over 30 - 60 mins

2 main areas top sell

1 - if we fail over 60 -62 and then next area around 64 to 67

2. If we made over 70 - then maybe stay with buys until we fizzle out and remember than 1160 / 65 becomes support

Have a good day SUn

Meanwhile - look at some of the easier pairs - ie ej after 5 pm and GU after 6 am

GL


Regards

Unfortunately - going to only be another hour this morning or so

Might be able to get 90 mins in before Lunch - then aim for 2 hrs after 2 00 pm

All inputs on FX welcome - feel free to comment

Regards



F

 

[sun11]

Morning,
looking at the EU.
EU Bearish: Bullish above 1183.

Now if I want to sell then from where shall I sell?
1156-1160 or below 1146 ?

Sold from 1156, it moved only 2 pips in favor, lots 4 pips. Out!

 

[Forexmospherian]

6 30 AM Update

Slow morning on EA - but GU as been OK for scalping - both as scalp buys earlier on and sell after both after 6 21 and abd 6 28 am from 4426 area

 

[sun11]

Morning Sun

Ok - lets look at the EU ( If you have too - lol)

Well for a start - yes its still in bear bias PS under 1190 - BUT

For now its a scalp buy above 1150 - and low held well over 30 - 60 mins

2 main areas top sell

1 - if we fail over 60 -62 and then next area around 64 to 67

2. If we made over 70 - then maybe stay with buys until we fizzle out and remember than 1160 / 65 becomes support

Have a good day SUn

Meanwhile - look at some of the easier pairs - ie ej after 5 pm and GU after 6 am

GL


Regards

Unfortunately - going to only be another hour this morning or so

Might be able to get 90 mins in before Lunch - then aim for 2 hrs after 2 00 pm

All inputs on FX welcome - feel free to comment

Regards



F

Thank you for the updates. Then my reading is wrong completely. Expect the EU bearish bias. I missed the 30+ minute up zone. I sold from 57 that didn't last.

I think then 60-70 zone is bit tricky now. About EJ i missed the sell trade. Same goes for GU too. 😕

 

[Forexmospherian]

GU

6 33 AM

Its in a bear bias under 4450 and 4460 area and now we need to see if we can under 4400

 

[Forexmospherian]

Thank you for the updates. Then my reading is wrong completely. Expect the EU bearish bias. I missed the 30+ minute up zone. I sold from 57 that didn't last.

I think then 60-70 zone is bit tricky now. About EJ i missed the sell trade. Same goes for GU too. 😕

It is a bearish bias under 1190 and 80

BUT

When supports hold over 30 and 60 mins - you expect pullbacks - they can be 10 pips - they can be 50 pips

Remember the market is constantly dynamic

Under 1180/90 favours scalp sells - BUT - only after pullbacks

Over 1180 - 1190 - 1200 - back to bull bias