A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Hi F

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

Regards

Raja

Hi Raja

Have already mentioned the 3 main key hours / 90 mins to you in reply to your comment on London hrs

Everyday can be slightly different depending on the pair you are trading and the news releases

So its important to check out news releases in advance as that's one of the clues and then it checking out the S & R levels on say 4 to 6 key pairs - and see when they all might converge at an approx change of hour

Volumes increase in London Open hour - and again at 2 pm or 4 pm UK afternoon time - but when you have say NFP Friday ( Freaky Friday ) it can be very busy from 1 30 pm to 2 00 pm and then go slow until after 3 30 pm - - thats' were experience and keeping notes will assist you in the future

For example 2 dates that I remember from my notes are July 4th 2014 ( US Bank Holiday and market was really busy) and always UK Parliament election days.

Finally - some times I will only know when it happens - ie at the time it starts ie could be at 9 45 am for 2 hrs - or 10 25 am for 90 mins - and its all in the right charts - and they are certainly not 4 hrly or daily etc etc ;-)

Regards


F

 

[NickBk]

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

Had a super day and a lot of pips.

Maybe the answer to doubling your stakes is to try what I have done for years. When you are ahead your 50 pips early on then incrementally increase lot size until you hit a couple of losers. I find the days you start well it usually continues and you can make hay.
This should add to your bottom line and at the same time not to your heart rate.
I tend not to count my money until the day ends so once you are nicely ahead keep pressing. We all know human nature usually does the opposite, people loading up only to get their money back and if they are not in the zone they usually won't recoup their losses at this stage.

Already 100+ pips this morning while you guys are sleeping. Good old GJ and a spike a few mins after I got in. Nice to get lucky too.

 

[Forexmospherian]

Tuesday 23rd February 2016 - Pre Opens

Good Morning Guys

I am late this morning anf just reading Nick is already up 100 pips - mainly courtesy of the GJ

i have posted 2 comments in this thread - ( comments 8 and 10 )

http://www.trade2win.com/boards/economic-fundamental-analysis/213718-how-profit-eu-referendum.html

With regards to Pound crosses and what I reckon with regards over the next few months until the EU referendum date.

I will try and add the GJ and GA to my FX pairs list - as both are like the EA - ie "beasts" and on busy days they really do make big pips and big moves etc.

Yesterday there was easily over 1000 pips available from the Pound crosses - trouble is normally I would only cover the GU and the largest mover yesterday was the GA.

I might be without an home office soon - due to having some building work at home - not planned it right - should have tried to have it done whilst being away on a weeks holiday - therefore might just have a few extra days off - I will keep you informed - but am also away on a short holiday break in March

Please feel free to post your charts and comments etc - any time of the day and also any questions or queries etc etc

Lets see if we can have another great day - although after all the movement yesterday I would expect maybe a slower day - just hope I am wrong

Good Trading

F

 

[Forexmospherian]

EU

6 30am

Believe it or not - we are in a slightly bull PS setting for the morning session above 1020/25 - but really need a move above 1060 to confirm it

If we drop under 1020 and 1000 - then supports at 0980 and 0960 areas

I have taken a scalp buy at 1033 in last 15 mins - not expecting to get 20 -30 pips - but at least get me off my duck ;-)

 

[Forexmospherian]

GU

6 30 am Update


Got this pair in a bearish PS for morning session under 4170 - but really needs to see under 4050 and 40 to stay with scalp sells etc

4100 is support and 4080 and R's at 4155 and 4180 and 4200

Its presently a scalp sell under 4120

 

[Forexmospherian]

EA

6 41am

Above 5230 - slightly bullish PS for am session - but need above 5280 to look at holding scalp buys on longer or adding

Under 5230 - 20 - scalp sells favoured - but we did yesterday stay above 5200 - just - similar to EU just about staying above the big 1000.

Its been a scalp buy like the EU last half an hr or so - but slow atm

 

[Forexmospherian]

GJ

6 45am

Been a sell for the Asian session and another low already this morning

For now pullbacks staying under 159 and 158 80 are just sells again - but check the 30 min time rule on lows

 

[Forexmospherian]

GU

6 30 am Update


Got this pair in a bearish PS for morning session under 4170 - but really needs to see under 4050 and 40 to stay with scalp sells etc

4100 is support and 4080 and R's at 4155 and 4180 and 4200

Its presently a scalp sell under 4120

GU

6 48AM

So far low this morning at 4103

Bounces stayin under 4118 favour sells again - - again watch time on present low though

 

[Forexmospherian]

EA

6 41am

Above 5230 - slightly bullish PS for am session - but need above 5280 to look at holding scalp buys on longer or adding

Under 5230 - 20 - scalp sells favoured - but we did yesterday stay above 5200 - just - similar to EU just about staying above the big 1000.

Its been a scalp buy like the EU last half an hr or so - but slow atm

EA

6 50am

Seems to have given up before 5280 - at 5270 and for now if we stay under here its sells again to test 5250 and 40 supports and then 5220 and the big number 5200

 

[Forexmospherian]

7 00 am Update

OK slow start for me as was late and not about for moves from 6 00 am TW

Last 15 mins as been kind to me on the GU and EA - both scalp sells and now another 34 pips added to my tally

Out around 8 15 am this morning and then might get another hr in before 11 00 am - and then it not back until after 2 30 pm

 

[Forexmospherian]

GA

7 02am

As you might guess - bearish - but outperforming the EA

In the last 12 mins its dropped 45 pips - and then bounced back up so far 35 pips

Dont recommend it for non experienced scalpers - also my spread atm 4 pips + commission - but if you catch a 40 pipper in under 10 mins - you dont mind the extra 3+ pip cost as a normal pair would not make 15 -20 pips in that time

 

[Forexmospherian]

7 10am

its definitely a scalpers morning with many pairs bouncing all over the place

For example GU from approx 6 00 am as dropped over 30 pips - but during that time 3 scalp buy bounces would have made you 30 to 35 pips- while 3 scalp sells would have made you approx 45 pips

So a 30 + pip move in one direction - but over 70 pips available for scalpers on 2 way moves

 

[sun11]

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

Morning Peter,

Yes seeing now EU is not breaking 1000 level. Good people are positive. Just checked your referendum post. Lots of pips but it's for advance trader..😉

Well my performance is bit slower these days, because i am building something rejecting all difficulties. A perfect filtering tool for me to observe all pairs technically. Also I am 80% close to make an ideal LRF indicator for MT4. This will simplify my work. Lets see.

Currently trading EJ, It was testing a support zone. But now can't say anything. That it will rise around 124.36 or not.

Good day..
Regards

 

[NVP]

morning all

6am starts .....

Yen , AUD , Swissie the buys
GBP the Sell (surprised ?).........USD net bear at moment

best scalps at moment ?

i'm on

uj sells
ej buys

gu is actually selling off a gain now

N

 

[Forexmospherian]

Got a few things to do before I pop out at 8 15 am - so will pop back after 7 30 am and for the LO at 8 00 am - see you in a bit

 

[NVP]

morning all

6am starts .....

Yen , AUD , Swissie the buys
GBP the Sell (surprised ?).........USD net bear at moment

best scalps at moment ?

i'm on

uj sells
ej buys .................Correction SELLS 🙄😱

gu is actually selling off a gain now

N

heres 3 i'm on and scalping ...sorry re typo above ....jees i'm getting old :smart:

yen is now some 36 pips up London session

gbp bouncing down to low 40's......they are the currencies to trade in pairs so far

in fact due to boths notoriously high volatility they appear most days in the fast movers :smart:

N

N

 

[Forexmospherian]

Morning Peter,

Yes seeing now EU is not breaking 1000 level. Good people are positive. Just checked your referendum post. Lots of pips but it's for advance trader..😉

Well my performance is bit slower these days, because i am building something rejecting all difficulties. A perfect filtering tool for me to observe all pairs technically. Also I am 80% close to make an ideal LRF indicator for MT4. This will simplify my work. Lets see.

Currently trading EJ, It was testing a support zone. But now can't say anything. That it will rise around 124.36 or not.

Good day..
Regards

Morning Sun

I hope you have a good day today - yesterday was a cracker for a Monday

I will say - you know I dont like the MT4/5 platform for various reasons

I am all for traders finding their own ways of automating their decision making and any aids that help them - brilliant

But really this game need you to have 10's of thousands even millions to develop bots to make them succeed

The market normally destroys 99% of all automated methods over time - purely because they cannot compete with super computers changing the many variable all the while

I will always wish you luck - But please dont get side lined by trying to make your live trading less emotional - it will not work

Instead focus on your mindset and adjust to saying to yourself - I need to face it head on and get say 3 months of live consistent intraday manual trading - and overcome my emotional and anxiety of trading with live money

I personally worry - that you have admitted you have wasted time staying too long on a demo account - and now credit to you - you are staying live now - but dont get side tracked by programming etc etc - stay focused on just getting profitable every day - doing it manually

Its only my own view - but I would be wrong not to voice it

You can make it - remember that - but only with full focus and not getting sidelined etc etc

Regards


Peter

 

[NVP]

ucad buys coming

 

[NVP]

cant persuade GU below 4100.......hmmmmmmmm

 

[NVP]

EJ ........123.83 is steady resistance ........will keep hitting it below that as a sell

ranging at moment ......ZZZZZZZZ