A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

Another stat I have, if it helps.

If a trade is +2, b/e or -1 or 2 pips (ie not stopped out) and is going nowhere it is optimal to kill it at 8 minutes. These trades do not consistently make money from here, over many trades of course. Especially as this method is about change of direction and so a stall is a bad sign and maybe it was a fake signal or any number of things. Now I just automatically do it and do not think for 1 second about it. Making decisions this way with enough information is a big help and saves a lot of time and thought process through the day.

Thanks Nick

Interesting stat and would make sense - as seen on EJ - its really gone into BTTZ mode to try and catch bulls and bears out

 

[Forexmospherian]

Spending to much time on the EJ as its been playing up - but I want to try and keep buying it as still got partial on from last night

Its just made a new high and now pullbacks staying above 124 05 are still buys again

 

[NickBk]

In the past I played a fair amount of poker online and statistical software is a huge part of that in terms of if x then 85% likely do why.

Now I have many trades using your method I have enough to get some statistical evidence what to do in certain situations. I need to just think of more question to ask of my database in a way that can be measured.

I don't believe we can make this method automated, especially entries as I look at many things but we can measure outcomes from what happened during trades and just make the process easier. We all like 100+ pip trades but if my stats tell me shooting for to many of them cost me money, so be it.

 

[sun11]

Just made another 8 pips with GJ, risking 1-2 pips.
LO in few minutes.

 

[Forexmospherian]

Notice we have more red news on Pound at 9 30 am this morning - so must check out pound crosses more next 90 mins

 

[sun11]

This is 1st time my EO trade was right..

May be because market during these EO was slow. That means I am good with slow market specially with beast pairs.
I feel there could be a nice breakout on EU during LO. But I don't want to risk my profit. Not being Greedy...
So out for lunch.

Happy trading guys..

 

[NickBk]

Just made another 8 pips with GJ, risking 1-2 pips.
LO in few minutes.

I must say the risk on GJ is never 1 or 2.
It has done the business already this morning along with EA.

 

[Forexmospherian]

EJ

7 55 am

Its frustrating me - so it's got into my head now - and that's bad -

It will not go over 124 12 and now testing my scalp buy cut offs at 05

Thankfully I am scalping it and so exited last buy at 09 and not going to enter another buy until we get a proper b/o over 14 and 18

I have spent too much time on the EJ for just small pippage - and so that's bad

Lets see what LO brings next

 

[Forexmospherian]

EU with 2 mins to LO as fallen to sleep in between 62 and 66 atm

By rights it shoul fall under 70 - but for LO - anything can happen so expect either way and take any scalp buy profit or get your stop in profit

 

[Forexmospherian]

EA as been consistent from after 7 00 am scalp buy

Not that nice a PA but its moved up approx 50 pips in the hr - so that again is the main earner last hr

 

[Forexmospherian]

EJ

Finally

 

[Forexmospherian]

EJ

8 06 am

Moving my partial stake stop from last night up to 124 00 now

High atm 124 32

Ideally we need to stay over 22/24 on pullbacks for more buys

 

[Forexmospherian]

I will post my EJ tick chart next

124 30 said scalp sell - but I want 22 to hold to buy again

 

[Forexmospherian]

EJ

8 10 am

Now in say a 15 pip range - ie over 35+ more buys under 20 more sells

Bacon sarnie time and that EA as carried on being consistent

Notice GJ made 155 91 and Sun said can it make 156 00 when it was about 40 pips lower

Will do a full update in next 15 mins and also that EJ tick chart

 

[Forexmospherian]

I will post my EJ tick chart next

124 30 said scalp sell - but I want 22 to hold to buy again

EJ

8 34am

Tick chart from 7 30 am to about 8 10 am - it was then isn an approx 15 pip range

Pump and dumps going on atm - on many pairs

 

[Forexmospherian]

8 40 am

Update

EU - above 0860 still slightly bullish for now

EJ - been bullish from after 7 00 am - presently in second BTTZ of morning

GJ - been bullish - and UJ but all peaked atm

EA - after 7 00 am the most consistent riser - but now peaked and just dropped 30 pips after 8 09 am onwards

Still need to check out UCad and UJ - but not normally on main hit list - but one I will be checking for this next hr is the GA - another pound cross and UK Pound news at 9 30 am

 

[Forexmospherian]

Notice EA and GA are in sync atm

Only traded EA so far - but GA as been a copy really with the rise up and then the drop in the London Open hr

 

[Forexmospherian]

GJ - London Open hr off the tick chart

GJ

9 00 am update

Red news on Pound in 30 mins

This is the tick chart view of a sell after 8 09 - KT and a buy after 8 30 KT and then a stall after 8 49 am - I did not scalp sell that - but again should have - but I never get to always right as nobody ever will really

I have had 2 small losses this morning - both on EJ but trivial - ie each one under 3 pips - and all my winning scalps have easily taken me well above target and so no negative drawdowns - other than first minus 6 pips RISK I accepted on first scalp of the morning

 

[Forexmospherian]

LOL

GJ

The scalp sell I did not take after 8 49/ 50 am as now dropped over 20 pips

Oh well you cannot win them all - remember that Sun ;-)

 

[NickBk]

GJ

9 00 am update

Red news on Pound in 30 mins

This is the tick chart view of a sell after 8 09 - KT and a buy after 8 30 KT and then a stall after 8 49 am - I did not scalp sell that - but again should have - but I never get to always right as nobody ever will really

I have had 2 small losses this morning - both on EJ but trivial - ie each one under 3 pips - and all my winning scalps have easily taken me well above target and so no negative drawdowns - other than first minus 6 pips RISK I accepted on first scalp of the morning

GJ. It was better if you go back further while you guys were sleeping.

As for EJ I only had a close look now. I traded GJ a lot again so not paying close attention to EJ. On reflection, or hindsight trading I guess it's called, you could have bought it at 06.00 and only just now got stopped out. Were you here at that time or as you had partials you thought enough?