A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

1 36pm

Will the EU stay above 1000 today and will the GU try under 4000 today ??

 

[Forexmospherian]

1 42pm

EA - 5300 - nearly 220 pips from Pre Opens

 

[Forexmospherian]

1 42pm

EA - 5300 - nearly 220 pips from Pre Opens

EA

11 MIN later 5260 - over 250 pip drop now ;-)

EU getting close to 1000 - but still above atm

 

[Forexmospherian]

EA - From Pre opens

EA

6 44am

It peaked around 6 30 am - and I made 16 pips on the scalp buy and after 6 30 am it was back to scalp sells - so far 11 pips on that

I am finding this morning - from after 7 00 am and the EO - the GU and EU have been great on my tick chart LR set up and EA became a clearer scalp sell after 7 30 am

Made well over my daily target so not going to bother with first 15 mins of the London Open - but be careful with all the games going on - as the London boys are certainly up to something ;-)

EA

Its not as though we did not tell you hours & hours ago

Even NVP as been selling the EA - and its not normally one of his pairs and he had it as sells as well

 

[sun11]

1 36pm

Will the EU stay above 1000 today and will the GU try under 4000 today ??

Good afternoon,
EU is falling, might break 1000 zone. Can go upto 925 tommorow.

 

[Forexmospherian]

Good afternoon,
EU is falling, might break 1000 zone. Can go upto 925 tommorow.

Hi Sun

saw your message earlier on today and saw you had a few problems ( non trading ) to sort out

For a Monday - its been a cracking day

No real red news etc - it just shows how the market maker always try and catch traders unaware - its a great way to make the money - as the expense of everyone else

I just hope nobody is still in a GU buy from Friday afternoon / evening and not looked at the charts today - or even worse - got gapped on a stop and think they are safe - and they are not

It does happen - but it blooming rare

If you are planning to trade this evening for you - be careful - US session might chnage things again


Regards

 

[Forexmospherian]

2 06am

ATm - EU still a scalp sell under 1013 and 17

 

[Forexmospherian]

Have you noticed the HL on EU - ie low 1004/5 HL at 06

1013 shows a turn being tried

If I was a player - I would be trying to turn it before 1000 and take it up 150 pips to fry bears etc

Ok another trick might be 0990 and 88 and then try up again

Under 1000 and 0980 favours lower to 0960 and 0950

 

[sun11]

Hi Sun

saw your message earlier on today and saw you had a few problems ( non trading ) to sort out

For a Monday - its been a cracking day

No real red news etc - it just shows how the market maker always try and catch traders unaware - its a great way to make the money - as the expense of everyone else

I just hope nobody is still in a GU buy from Friday afternoon / evening and not looked at the charts today - or even worse - got gapped on a stop and think they are safe - and they are not

It does happen - but it blooming rare

If you are planning to trade this evening for you - be careful - US session might chnage things again


Regards

Yes sorting out...Today I traded 3 hours not continuously but with different mini sessions.

Just got 5 pips with EU buy from 1007.
I was trading a new pair Eurgbp. I saw spread is very low on this pair. Today 14% impulsive trade yet.
But daily pl is in loss but under 10 pips.

Regards
S

 

[sun11]

What is happening with EU right now. Its creating higher high, but still in bears land. Confusing.

 

[Forexmospherian]

What is happening with EU right now. Its creating higher high, but still in bears land. Confusing.

Hi Sun

Only popped back for a 3 pm UK time update

EU is resting - whilst market makers work out were all the deals and money are

Yes under 1030 and 40 favours lower - but as we know 1000 is a psychological big area to breach

Noticed EA down to 5240 area - so now over 270+ drop from Opens

 

[Forexmospherian]

GU - Nearly 50 pips off 2 scalp buys in last 40 mins

GU

Ok we know its dropped over 200 pips today and in a bear rally land etc etc

So you then catch a low and scalp buy it - no problem if you are an experienced scalper

Here's my Tick Chart and what I saw at 2 30 pm and 3 01 pm

All makes sense to me

ie profit taking etc etc

 

[Forexmospherian]

GU

Ok we know its dropped over 200 pips today and in a bear rally land etc etc

So you then catch a low and scalp buy it - no problem if you are an experienced scalper

Here's my Tick Chart and what I saw at 2 30 pm and 3 01 pm

All makes sense to me

ie profit taking etc etc

GU

3 45pm

Had to move to a t13 tick to show a longer view over last 2 hrs - as could not get this long on a t4 or t6 tick

Now made nearly 60 pip retrace from 2 30 pm time

 

[NickBk]

Is my 50 pip daily target - one I have had for over 3 years realistic ??? ;-)

All depends on hours you put in. If an 8 hour day then no it is not high enough.
75/80 min in that case, for usual days.

For days that we have lately 100+ is not difficult and 2 trades could do it for you.

 

[Forexmospherian]

Hi Sun

Only popped back for a 3 pm UK time update

EU is resting - whilst market makers work out were all the deals and money are

Yes under 1030 and 40 favours lower - but as we know 1000 is a psychological big area to breach

Noticed EA down to 5240 area - so now over 270+ drop from Open
s

EA

5 15 pm

Now down over 310 pips from Opens ;-)

 

[Forexmospherian]

Just Noticed GA dropped approx 400 pips from around Opens

Shame - left nothing on it - I must be silly - but there again you never think 100% logical in this game - and really I cannot be covering 6 pairs plus - - even though if stops already in place with profits locked in it should be no issue - except if they get gapped - like might have happened to some bulls who left on Friday

Finished now for day - I should say week and month really - but will pop in a bit later

Regards

F

 

[Forexmospherian]

My comment 8* - re GU

http://www.trade2win.com/boards/eco...718-how-profit-eu-referendum.html#post2710128

 

[Forexmospherian]

All depends on hours you put in. If an 8 hour day then no it is not high enough.
75/80 min in that case, for usual days.

For days that we have lately 100+ is not difficult and 2 trades could do it for you.

Hi Nick

I have looked back over the last 3 years and out of approx 600 days I have traded - there is only about 10% of them when I have spent over say 4 hrs trading and taken over 12 trades and failed to get to my 50 pip daily target.

I have had many days over 300 pips - a couple over 400 pips and the main mean average is over 100 pips - not though on scalps but based on trades like today when you get a trend and you can stick your stop in profit and add on the way down ( or up)

When I initially went full time- i spent first years focusing mainly on just EU and GU - and at that time I felt progress was going up from 25 pip daily targets to 30 and 35 pips. I did have more losing days etc and although I would have an occasional 100+ pip days - I would stop - not wanting to give too much back.

Nowadays - I lack the motivation of 7 - 8 years ago - plus the fact I am older and so even though I don't mind every week the odd one or two days of 6 hrs plus - but generally try to just cherry pick key hours of the day session and get all my work done in under 4 hrs and enjoy more down ( relaxing) time etc

Just wish I was under 40 yrs old and knew what I know today - but that's life

I should be doubling or trebling my stakes - but I would find that maybe more pressure than increasing daily target to 80 pips - and I would not need to get my Garmin jogging heart rate monitor out to confirm that ;-)

Hope you had a cracking day

Regards


F

 

[Raja1977]

Hi Nick

I have looked back over the last 3 years and out of approx 600 days I have traded - there is only about 10% of them when I have spent over say 4 hrs trading and taken over 12 trades and failed to get to my 50 pip daily target.

I have had many days over 300 pips - a couple over 400 pips and the main mean average is over 100 pips - not though on scalps but based on trades like today when you get a trend and you can stick your stop in profit and add on the way down ( or up)

When I initially went full time- i spent first years focusing mainly on just EU and GU - and at that time I felt progress was going up from 25 pip daily targets to 30 and 35 pips. I did have more losing days etc and although I would have an occasional 100+ pip days - I would stop - not wanting to give too much back.

Nowadays - I lack the motivation of 7 - 8 years ago - plus the fact I am older and so even though I don't mind every week the odd one or two days of 6 hrs plus - but generally try to just cherry pick key hours of the day session and get all my work done in under 4 hrs and enjoy more down ( relaxing) time etc

Just wish I was under 40 yrs old and knew what I know today - but that's life

I should be doubling or trebling my stakes - but I would find that maybe more pressure than increasing daily target to 80 pips - and I would not need to get my Garmin jogging heart rate monitor out to confirm that ;-)

Hope you had a cracking day

Regards


F

Hi F

could you please share your cherry pick key hours of the day session.

Regards

Raja

 

[NVP]

All depends on hours you put in. If an 8 hour day then no it is not high enough.
75/80 min in that case, for usual days.

For days that we have lately 100+ is not difficult and 2 trades could do it for you.

50 is doable most mornings for me......90 mins tops......but It depends on the markets .......and it's important not to rush it either.....my early few trades are always a little more tenuous ......a,few decent ones in and I warm up

If someone is an experienced scalper you would have to,have an absolute howler not to make 50 in 6to,8 hours trading ......that would mean a dead market and making crap,trades

N