A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

My EJ sell trade got failed from 123.77.

It was a scalp sell after 7 39 am from 123 80/81

Up to then it was just a buy really with a pull back in between

GU as now breached out of range
#
check my comments - above 3885 and 3904 - it was more scalp buys

 

[NVP]

Good Morning Peter,

GJ is being the star player in this morning it moved 130 pips already.
I finished setting up everything, Also made a note on your method in summarized format & recorded my performance since Aug15.

I was checking your post, that you will not be available 5 days a week. Well, that will not create any problem for me. As you already did lots of hand holding job for me.

But if there is any problem I will post on my thread.

Pardon me about my slow performance since the training. I know it's now out of your student benchmark.
I just hope before you leave this forum forever, I can at least reach to somewhere.

Thank you for everything.
Good day you too.
Regards

you are going fine Sun...........it takes time to become a good consistent trader .............that's what most of the people on these threads don't understand ............

its got nothing to do with skill , intelligence , luck , or indeed the latest half witted trading system being sold for £1,000 by scam vendors

it just takes time !!.................and patience and fortitude .....:smart:

N

 

[NVP]

booming moves on GU ............i'm enjoying the rides .....

 

[NVP]

GBP just put up 25 pip run bull ...........yen recently scraped the 30 pip low for 6am start London

these guys are ruling the roost ............try to keep 1 in your pairings

I don't really like mixing them on 1 pair ..........too volatile and I cant be arsd to dilute my £ per pip levels :smart:

 

[sun11]

Too bad my platform freezes, I made only 5 pips instead of 10 pips. Couldn't close the EJ sell trade.
New LR indicator is bit heavy...P

 

[Forexmospherian]

London Open in 4 mins

Be careful if in scalps on the hour or 3 mins after the hour is case of spikes etc

 

[NVP]

yen is soooooooo predictable ........it will sweep big move in Asian ..........then fade into London ..............then swing violently for first 2 hours ..........

trade it both ways................I play it to usd or and euro ...depends on correlation at the time .................but like the male in ballroom dancing ............let the yen lead !

N

 

[Forexmospherian]

Too bad my platform freezes, I made only 5 pips instead of 10 pips. Couldn't close the EJ sell trade.
New LR indicator is bit heavy...P

I have the same problem on ctrader running 4 tick charts and 5 x 1 min charts

All broker platforms are designed more to be more bias to the broker than the trader - so there are ways to get around this

I noticed last week I had a MT5 platform open with the EA on and was trading my ctrader and at several instances the prices were 7 pips different


1 to 2 pips is acceptable - not over 3 or 7 pips - shows the difference the brokers are up to- obvious more with non ecn or stp

 

[NVP]

London Open in 4 mins

Be careful if in scalps on the hour or 3 mins after the hour is case of spikes etc

and on my last scalps of the day ..............grrrrrrr I need to cull this consultancy stuff later this year as it spoils all my trading fun

 

[NickBk]

Morning Nick,

Sure this is how it looks like, Reason why i took sell trade.
View attachment 219572

Thanks for sharing.
I would not look to sell until the price properly breaks the medium lr's and they kept rising until the price of 82 (previous high from over 2 hrs).
Now you could tell me that you sold at 07.40 and I can get into that but it was still above my longer lr's and as such it would then be a pure 6-8 pips scalp without any confidence of a longer move.
I am trying to get a few more parts aligned (as I posted charts before) and then I know I could be in for a lot more pips. Less comms, more potential and better r/r.
Good luck

 

[sun11]

With my method - you are in control - take only small losses asap and then cherry pick your scalps and get stops in profit once you are up 10 -15 pips then the stress is less and you can think clearer

I am currently 5 pips loss on daily pl. I was thinking if EJ trend is bearish, then can I hold a sell trade upto 123.39?

Its standing on TD.

 

[Raja1977]

London Open in 4 mins

Be careful if in scalps on the hour or 3 mins after the hour is case of spikes etc

hi F

what do you mean of 3 min ? the first 3min of the first hour or last 3min of the first hour.

 

[Forexmospherian]

and on my last scalps of the day ..............grrrrrrr I need to cull this consultancy stuff later this year as it spoils all my trading fun

The thing is now N - you will improve every month - so if you are able to spend more time trading say 4 -6 hrs over the whole day - I am sure you could make far far more than on your consultancy deal with a nice capital account etc

You will still have the 2 or 4 bad scalps most days - although I am sure you will have days with no bad scalps and 20+ all good and double or treble your targets

I just hope you dont try and get back doing over 50 - 100 scalps a day - that will wear you out very quickly - lol

Regards


F

 

[Forexmospherian]

hi F

what do you mean of 3 min ? the first 3min of the first hour or last 3min of the first hour.

Approx 3 mins after the Open hr change - ie 8 03 am

Sometimes if you dont get an immediate spike on the Open - its delayed by 3 or 4 mins - just to catch out traders who scalp on the hour

 

[sun11]

Thanks for sharing.
I would not look to sell until the price properly breaks the medium lr's and they kept rising until the price of 82 (previous high from over 2 hrs).
Now you could tell me that you sold at 07.40 and I can get into that but it was still above my longer lr's and as such it would then be a pure 6-8 pips scalp without any confidence of a longer move.
I am trying to get a few more parts aligned (as I posted charts before) and then I know I could be in for a lot more pips. Less comms, more potential and better r/r.
Good luck

Thank you for the explanation.

If it is like that that, then if you need to sell EJ then where would you sell?
from 123.65 zone, cause there I am seeing price goes below all LRs?

Regards

 

[Forexmospherian]

GU

8 30 am Update

just posted a tick chart on hhiusa's thread with some comments -

http://www.trade2win.com/boards/forex/213872-question-about-forex-trading-journals-12.html


Comment 116

 

[Forexmospherian]

It was a scalp sell after 7 39 am from 123 80/81

Up to then it was just a buy really with a pull back in between

GU as now breached out of range
#
check my comments - above 3885 and 3904 - it was more scalp buys

Comment over 40 mins ago

the EJ became more than just a quick scalp sell and the GU topped and fell after 8 00 am

We have had buys after the EO - and sells after the LO

 

[Forexmospherian]

I am currently 5 pips loss on daily pl. I was thinking if EJ trend is bearish, then can I hold a sell trade upto 123.39?

Its standing on TD.

Your cut off on EJ sells is now 67 -70 area

If you got in before there leave part stakes on and take some profit

Bounces staying under say 70 you might be able to sell again

If that happened it might make 39 or lower - keep an eye on time rules as well

 

[NickBk]

Thank you for the explanation.

If it is like that that, then if you need to sell EJ then where would you sell?
from 123.65 zone, cause there I am seeing price goes below all LRs?

Regards

Happy to sell at 08.00 time

 

[Forexmospherian]

I am currently 5 pips loss on daily pl. I was thinking if EJ trend is bearish, then can I hold a sell trade upto 123.39?

Its standing on TD.

Here's my tick chart view on the EJ - Sun

You are close to your target - at 8 41 am

GL

Having 20 min break