A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Many might say - yes but you cannot risk 1 % or 2% on 9 trades on 9 pairs - too much risk

No - again wrong idea

You are on partials with stops in profit - so total risk at worse case scenario maybe 3% - but once all have stops in profits at 1 to 3 pips - then exposure as gone and you are on a win / win scenario

Again just too complicated for many less experienced traders who are not free thinking - so don't try 9 pairs - just cherry pick 4 pairs for a start .

Why dont you find this stuff in books or courses etc etc - well 90% of trainers have never worked it all out still

 

[Forexmospherian]

3 51 pm was another scalp sell on GU at 5377

On a 1 min LR chart you would have seen it at 3 51 / 3 52 pm

 

[NickBk]

Many might say - yes but you cannot risk 1 % or 2% on 9 trades on 9 pairs - too much risk

No - again wrong idea

You are on partials with stops in profit - so total risk at worse case scenario maybe 3% - but once all have stops in profits at 1 to 3 pips - then exposure as gone and you are on a win / win scenario

Again just too complicated for many less experienced traders who are not free thinking - so don't try 9 pairs - just cherry pick 4 pairs for a start .

Why dont you find this stuff in books or courses etc etc - well 90% of trainers have never worked it all out still

F days like this make it seem all too easy, but with tight stops and discipline we shouldn't go too wrong on more difficult days.

One thing I couldn't agree more with that you say, how on earth could you do so well today on longer time frame charts.

GL see you tomorrow.

 

[NickBk]

16.09 anyone?

 

[Forexmospherian]

Will pop back after 5 30 pm or after 6 00 pm next

See you later

 

[NVP]

Many might say - yes but you cannot risk 1 % or 2% on 9 trades on 9 pairs - too much risk

No - again wrong idea

You are on partials with stops in profit - so total risk at worse case scenario maybe 3% - but once all have stops in profits at 1 to 3 pips - then exposure as gone and you are on a win / win scenario

Again just too complicated for many less experienced traders who are not free thinking - so don't try 9 pairs - just cherry pick 4 pairs for a start .

Why dont you find this stuff in books or courses etc etc - well 90% of trainers have never worked it all out still

agreed..............theres a huge diff between 9 live trades on full stakes and running 30% stakes .........I would comment though that forex correlation should be a consideration ........as running multiple pair trades will bring up inevitable challenges on conflicting directional trades

 

[NVP]

F days like this make it seem all too easy, but with tight stops and discipline we shouldn't go too wrong on more difficult days.

One thing I couldn't agree more with that you say, how on earth could you do so well today on longer time frame charts.

GL see you tomorrow.

Hey Nick

I think most of the people here on this thread and followers would muller higher TF's .............the problem is clearly trying to make a decent living out of it due to lack of trade volumes

going 20-30 trades in a day (in fact in the london session if necessary) to achieve decent returns is easy on scalp TF's.................in fact generally I can see F regularly gets his targets way before lunch these days

get up a little in the TF's and that can take a few days minimum waiting for the best signals ...no use at all unless as a side hobby to top up the coffers ...and would still be difficult to do alongside a full time job.......(in spite of what those all dodgy vendor adverts tell you about part time trading....remember the baby sitting phase on trade entries would still take a little time ............something all the vendors conveniently forget to tell you )

N

 

[NVP]

today has seen usd back in business .............

50 pip range from Asian opens and 40 pip range available since London session..........

combine those great usd pip moves with the pips of obliging currencies (that were moving in the opposite direction to the usd ) and you really should be making plenty of pips scalping

2 sessions for me stood out ;-

#1 from 6.20 on chart (7.20 BST)........nice run up from usd .even if you waited for confirmation of the usd bounce theres still a solid 20 pips of usd bull move to play with ........go to the Europeans first to hunt sells .........then I would go to Cad for options and finally the U/J if nothing shaking ..............U/J and Aussies are my last resort if traded at all in truth.......something s usually shaking from my fantasic 4 ...........CAD , EURO , GBP , CHF

#2 was a classic resell of USD of the London sessions high ........around 10.05 GMT (11.05 BST).........note that was possible to enter early - as you can see the resistance line to sell off .....................around 40 pips of usd sells over next 5 hours .....that's the one that could have delivered you mega pips by letting pairs run and run and run........but there were some big retraces in that move so I suspect any extended pip runs were taken ........I wouldn't have given back uber pips on a trailer ....I would have taken what I could and then jumped back in

that's how its done ...........for me with my focus on the usd ......if it brings out the decent ranges in a session - I need to be shot if I cant make money......! :smart:

N

 

[NVP]

just wanted to show 2 of my fav pairs and how the day produced the big moves

remember this is an overview of best entries........taking just 2 - 3 trades is not my style as people know !

Ucad .............totally ignored from me early London session as they were both bullish...........see how I would have got stuck in on the usd selloff ?............
why ?
because cad kept going bull..............2 decent trades from the bull Cad and the bear usd then

EU was the opposite .........Euro was a classic selloff as usd went bull in early London...........then they both stayed bear as usd sold off.......I would have attacked a little EU buying later but it was not the best trades at that time....

that's why F tries to encourage trading a few varied pairs for scalping ..........you have to get on the fastest moving trains to make money .....and certainly look for correlation changes as you will rarely see one currency pair staying decent all the time .........they change a lot so be prepared to shop around for scalps ! :smart:

N

 

[liver1234]

Great trading session today i took a couple on the euro at 1220 area and sold against cad as well good to chat with other traders throughout the day see you all tomorrow nvp

 

[NVP]

Great trading session today i took a couple on the euro at 1220 area and sold against cad as well good to chat with other traders throughout the day see you all tomorrow nvp

sounds like a great day L .........in fact .......have a boom boom on us !

N

 

[Forexmospherian]

Great trading session today i took a couple on the euro at 1220 area and sold against cad as well good to chat with other traders throughout the day see you all tomorrow nvp

WD Liver

please always feel free to join in as you see things or re questions etc etc

Hope the rest of the week is like today

Regards

F

 

[liver1234]

Will do forex beginning to see how you trade.Ive enjoyed today on this forum.See you all in the morning.

 

[tdezo]

tick/ 1m

MM
" use tick charts to give me more obvious pa structures in crucial moments "
Do you mean tick charts are more condensed ,not stretched by time so they show PA better?
Did you go back to 1M / fast LR lines for entries and tick chart is just another clue , or you still using 20 or so tick for entries as well?
Seems to me tick charts might be better for entries but Im not sure , I just plan to start actually doing this type of intraday trading.
I'll open a Tradersway acount this week , they offer C trader.

 

[Forexmospherian]

MM
" use tick charts to give me more obvious pa structures in crucial moments "
Do you mean tick charts are more condensed ,not stretched by time so they show PA better?
Did you go back to 1M / fast LR lines for entries and tick chart is just another clue , or you still using 20 or so tick for entries as well?
Seems to me tick charts might be better for entries but Im not sure , I just plan to start actually doing this type of intraday trading.
I'll open a Tradersway acount this week , they offer C trader.

Hi tdezo

I will let MM explain more what he means there - but I would only advise using tick charts for scalp entries if you are already experienced with using the 1 / 2 / 3 minutes charts - and so are used to seeing faster movements taking place and can work with them comfortably.

Also if you get a broker with Ctrader - I know both MM and myself prefer there own platform rather than it be on a MT4 set up for many different reasons

I dont know whether MM is around much today - but he will explain more

All the best

F

 

[NVP]

morning all

heres where I am today on usd index ..........some simple S/R lines to steer me london session

pretty bear this week now .............so I will be hunting more resells until proved wrong

the Asian has set up nicely with a retrace north already ................absolute perfect conditions to start reselling usd

we will see ...game on !

N

 

[NVP]

Hi tdezo

I will let MM explain more what he means there - but I would only advise using tick charts for scalp entries if you are already experienced with using the 1 / 2 / 3 minutes charts - and so are used to seeing faster movements taking place and can work with them comfortably.

Also if you get a broker with Ctrader - I know both MM and myself prefer there own platform rather than it be on a MT4 set up for many different reasons

I dont know whether MM is around much today - but he will explain more

All the best

F

never really dived much into ticks myself as yet ..........havnt really needed it although I am aware of the advantages ....:smart:

N

 

[Forexmospherian]

Wednesday 9th September 2015 - Pre Open Time

Good Morning to all FX Intraday Traders.

At least we have some red news releases today - starting with a UK Pound one at 9 30 am and then several more later on at Lunchtime and in the early US session

As I am typing its approximately 6 29 am

I started today just before 5 55 am and again for this hour I have been looking for scalp trades at 6 00/1 am - 6 09 am - 6 21 am - 6 30 am - 6 39 am - 6 51 am and then of course same next hr - all throughout the day.

That's a possible 72 scalps just on one currency pair over a 12 hr session

So on say 4 pairs - that could be as many as 288 scalps ( that's old NVP's day )

However the reality is -

1. I only actually look for 1 or two or maximum 3 scalps per hour as I am not chasing after just 1 or 2 pips profit - and prefer to try and target 7 -25+ pip moves

2. I cherry pick my 30 min sessions - i will not be sitting glued at screens for 24 x 30 min sessions - normally - I trade only 4 to 6 hrs a day and normally I only take 10 to 20 intraday trades ( a trade can be a single or a multi stake entry )

3. Most days I expect to hit my 50 pips daily target within the Morning session - ie with 3 to 4 hrs maximum over a 6 hr morning session. Some days it happens under 60 or 90 mins - other days I need over 4 hrs - all depends on market movements and whether I manage to only have 1 or 2 bad trades - or whether I have 4 or 5 +

4. Every trading day will be slightly different - but everyday will also have some elements of similarity - ie KT's - TW's - slow moves / quick moves all between different levels of S & R etc etc

I hope this makes sense and now have a look at the trades I took at approximately 6 00 am on the EJ and 6 28 am on the EU - one scalp buy - one scalp sell

Ok - normal stuff again today - please feel free to join in - thats if you are a genuine single nic member who trades FX

Have a great day

Regards


F

 

[Forexmospherian]

6 36 am

I will get the LiTs out in next few mins - split in 2 - main key intraday pairs and then a few big movers a few mins later

My 6 00 am EJ scalp buy already mentioned ( 6 01/ 2 am actually) from 134 27 peaked at 44 just before the 6 34 am scalp sell

Still in the 6 28 am EU scalp sell and thats dropped 11 pips so far

 

[NVP]

morning all

heres where I am today on usd index ..........some simple S/R lines to steer me on london session

pretty bear this week now .............so I will be hunting more resells until proved wrong

the Asian has set up nicely with a retrace north already ................absolute perfect conditions to start reselling usd

we will see ...game on !

N

about 20 mins in and I can show you below how the currency indexes are doing

GMT on charts

selloffs from days high on green usd have only really been capitalised on by buying brown CAD in the main usd pairs I trade ........the europeans are all selling mainly as well

the second chart shows the other currencies ......i like the yellow yen selling off ...that supports the usd sells ..............but look at the aussie twins ..........THEY are the ones being bought :whistling

hopefully those moves wont be as prevalent as London warms up

until then Ucad is my lead sell on this usd selloff into main weekly trend :smart:

cmon Europeans ...........RISE !!!

N