F's "Devil in the Detail" Intraday FX Trading Journal 2015

[Forexmospherian]

EU - A 3 day - 3 min view along with a week's review

For a 3 day view - I cannot use a 1 min chart squeezed up - it just does cover enough back time - but for me it is far more accurate than the 3 minute chart on levels and changes - my longer term LRs' are nearly spot on with the direction bias / price structure.

This is one of my working charts - so sorry for the mess - but information is knowledge and converts to winning trades - and I need as much technical non lag stuff as possible ;-)

We seem to be ending up basically were we started the week - but in between we went up to 1527 and 1499 and then the drop again

LH''s but for me no LL's until under 1280 and 1260 - otherwise 1300 + could mean more tries over 1420 + again

 

[Forexmospherian]

EU - 30 Min LR Chart on Monday 9th February 2015

I think the EU is now in a 300 pip range from approx 1250 to 1550

We need a BO either level to see the possible next direction with price today after London Close at 1330 area

Whilst we stay in the range - i will still scalp in both directions - with my scalp buy bias above 1375 and 1400 + and scalp sell bias below 1290 and 1260.

I much prefer to short term intraday trade the EJ pair rather than the EU - and even though the spread is less than 0 5 pip more - most moves can be from 60 -100% more in the same time period .

http://www.trade2win.com/boards/attachments/trading-journals/185118d1423502992-fs-devil-detail-intraday-fx-trading-journal-2015-eu-90215-30-min-chart.png

 

[Forexmospherian]

Time Windows

I have covered this part of my method in all my key threads - but today it was mentioned again - so I thought I would cover again for Fugazsy and dearlife.

In terms of importance - the times around market opens are important - ie EO and LO and then the US Open

From my 2 TW's every hour and 6 KT's ( key times) the hour change is normally the most important.

That is due to many reasons - not traders coming out or entering new trades - but also because a lot of automated robots act at certain times - all linked to the price approx 9 minutes either side the 2 KT's

Nowadays from what I understand most - over 60% of all new entries are automated by the Institutional and commercial bodies and with the rise in HFT over the last 7 years this as changed some of the PA at what I call the "coalface".

Maybe 10 or 15 years ago - time windows were not so critical - but as far as I am concerned they are a very important part of my own method.

Remember - I only forex trade and so cannot relate it to other instruments - but KT's help me obtain scalps with less than 3 and 5 pip stops.

Anyone new to my Intraday thread will see time always being mentioned and hopefully if you use my chart set up - you will get to see the importance of when time agrees with LR's and PA etc

Hope this helps - but do not confuse with the 30 min rule on interim highs and lows - that is a separate concept


Regards


F

 

[Forexmospherian]

Best Pairs for Intraday trading - with a perfect example to follow

I had a question posed today about what FX pairs I would suggest to focus on for short term Intraday trading?

I generally cover 5 -7 pairs and normally never scalp more than 3 pairs at same time ( 2 is OK ) but happy to have part stakes on with stops in profit on all 5 or 7 at the same time if the opportunities are there - as my risk is covered by stops already in profit etc.

I don't suggest exotic pairs - prefer the majors and major crosses as the spreads are normally tight and there is more volumes

I started 13 yrs ago with the standard 4 - EU / UChf / GU / UJ - but majored on the EU first and then moved onto the GU.

Most traders always trade the EU - but be aware - its certainly not always the easiest to scalp or short term Intraday - in fact some days because of its manipulation and gameplay etc - it can be the most difficult pair

I think you need to cover at least either the EU or AU - with GU second choice as more volatile - then you need a USD major - such as the UChf or UCad - and then a yen cross - ideally the UJ or EJ

My preferences as an experienced scalper and intraday trader is the EJ - then GU - then EA or AU - then UCad and finally the UJ

The EU - I can take it or leave it - like I say - some days it performs to how it should do - other sessions it can be a really pig and teaser and waste your time and energy etc

Once you have at least 1000+ trades on any pair - ie that should take say from 3 months to 9 months - anything longer - and you are not taking enough trades - then you should know it fairly well

Other points to look at here

What's the calender looking like for the day ? - If there is UK Pound red news in morning and UCad news in the afternoon ?

If there is - then there are 2 pairs to check out and look for trades etc

I trade the EJ at least 14 days of the month - but there are some days I prefer the EU or another pair - ie might be news or due to the PA being easier etc.

Next point -

You do need more than one screen - ideally over 17 or 20 inch . 2 if fine - 3 is better and 4 or 6 is only if you are full time and really serious etc etc.

Don't try intraday trading off a tablet with a 6 or 8 inch screen - its not really ideal and also don't look at a mobile phone screen and think you can trade off it - OK its fine for exiting trades or having a quick look on the LT swings - but you just get a false view on a screen all scrunched up etc.

If you are serious - get the proper equipment - it will pay for itself - with extra trades and make you more money.

I finished tonight around 5 00 pm - and was getting ready to leave my desk - when I had a phone call - whilst watching the charts and talking - the perfect scenario on the UCad appeared at 5 21 pm and then 5 30 pm

I will post this chart later and on the other Intraday thread

In the end - i would say - my trade of the day - yes - it was that good - even better than the Midday big buy dumps on the EU and EJ ;-)


I hope you all had a great trading day as well


Regards


F

 

[Forexmospherian]

EU after 5 30 pm v Ucad after 5 30 pm

I had basically finished scalping after 5 00 pm and was only still at my desk because of a phone call from one of my cousins.

Whilst I was watching the charts and after I had come out of a Ucad sell - I could see a perfect set up starting

Its after London Close and normally I don't bother - but this looked a great set up

And - yes it was

I am posting 2 charts - first one with the scalp trade and I came out after 30 mins with 70% and left 30 % on

Another hour later - see where it went up

YES - my best trade of the day - at after I normally finish

Must buy my cousin a nice bottle of scotch - I am so glad he rang me - ;-)

Charts below - with TW's for scalp etc

This sums it up about only focusing all the while on one pair

In 90 mins - the EU moved up and then pullbacked and in total a 25 pip move

Meanwhile in the same time - UCad moved up cleanly - 100 pips - yes 4 times as many and 4 times as eay as trying to scalp the EU

Remember the market is extremely clever - dynamic and complex - it will never make it easy for traders - you have to be aware of all the gameplay and tricks and ploys that are played

Then you can properly gain ;-)

 

[Forexmospherian]

Wednesday 11th February 2015

This as basically been my worse trading day of the month - so far

OK - I made slightly above my daily target of 50 pips - but that's counting 3 trades after LC - and normally I have finished well before then

I put it down to 2 reasons -

1) - Not being available for some key session periods - ie 8 00 am to 9 30 am UK time - and then out dog walking and doing school run after 3 00 pm - wrong my fault - those few hours are key FX move times

2) - The market - today the early European and London session were just not good for my normal favourites - ie the EJ / GU / EU, - but instead favoured the UCad and UJ - - I do trade them - but I don't normally take over 70% of my scalps on them

I have ended up taking over 20 trades - mainly mostly scalps - with 4 losers - but only a few pips on each - and lots of 5 -10 pip stuff with my longer moves only being on 30% stakes with stops in profit.

The EU and even GU had awful PA - for at least 5 hrs on GU and all day up to after 3 30 pm on EU

EJ was not really much better - but the UJ and UCad shone - and without them I would have really struggled today.

I am showing both the UJ and UCad charts for the main part of the day - along with some key times of moves etc

Compared to this time last week - and i well down on my weekly tally - but still achieving my daily targets - thats trading - every day can be so different for so many reasons

http://www.trade2win.com/boards/attachments/trading-journals/185250d1423682731-fs-devil-detail-intraday-fx-trading-journal-2015-uj-110215.png

 

[Forexmospherian]

Intraday Trading using my method - Approx 12 hrs worth

This second week of February cannot compare pip wise to my first - as that was a cracker - but at least I am up approx 1100 pips in this period.

Saying that my first pupil - Major Magnum - who followed me last year for over 8 months - learning and replicating my method had a great day yesterday - and beat my best day - making 492 pips net in under 13 hrs.

I helped teach MM on this site - totally free of charge - I don't sell courses or dvd's or books etc - but want to help other intraday traders during my last 2 years of trading full time - as I plan to retire before I am 65 yrs old.

I had retired first at the age of 50 - sold a couple of businesses and wanted time off.

I soon got bored and within a few years was FX trading full time - as it fascinated me - purely because of all the rubbish the banking industry try to install in all retail traders.

Anyway - I think MM is doing a great job - he's very critical of himself - but he's so nearly there and another 500 to 1000 live trades and he will be totally consistent.

Here's his results on his latest live account - he had printed them already and he's happy to share - ( mine stay private )

In a nutshell

Approx over 12 hrs -

30 trades - 25 wins - 5 losses - 83% win ratio

Largest loss - 5 pips - Largest win 55 pips - average win approx 19 pips

Gross Pips before losses -510 pips

Net winning pips after losses - 492 pips

He traded 2 pairs - Gbp / Usd and Eur / Aud

Impressed ??

Don't be - he can do better than that - but I don't know whether i can nowadays - I am too old lol

Enjoy your weekend and don't believe so much rubbish out there - hard work - study - commitment - strong mindset etc etc - and you can do the same.

MM has proved it for me

All the best


F

 

[Forexmospherian]

Monday 16th February 2015 - US session

With the US on a Bank Holiday - this afternoons session from after 2 00 pm as been fairly slow - but still with some scalp opportunities.

I had a fairly busy AM session on the GU and the Ucad and similar so far up to 3 30 pm

The EU as been very slow and similar with the EJ today.

With no red news announcements and an important Eurogroup meeting taking place the FX market as been fairly slow and awaiting more news before we might attempt to break out of any ranges.

Best pair for me so far as been the UCad and I am showing a 1 min LLR chart with the changes from early on

The move up in total as only been 55 pips - but its possible to make more than that by both scalp buying and scalp selling with the main waves and so far there as been approx 7 nice scalps all worth over 15 pips - with the best 2 over 20+ pips

 

[Forexmospherian]

Thursday 19th - Pre US session - last few days updates

Its just gone after 11 00 am UK time and its fairly boring atm for me

I have had a nice morning - even with me being out for 90 mins over the first hour of the LO - not as though I like that - but this morning from 6 30 am to 7 30 am was good for me on EU / UJ and UCad

Then from 10 00 am and 10 30 am TW's further nice gains off 4 pairs

Result - within 9 trades I have made my daily target - but don't plan to stop as we have 3 red news announcements from 12 30 pm to 3 00 pm - key times

Yesterday was good again - but all the days moves seemed to change again after 7 00 pm last night and FOMC news.

I will post a couple of charts here later on - looking to see if UCad can make over 2500 + and UJ over 119 00 again - twices its made 95 and pulled back - lovely tease going on

EU is stuck in a 130 pip range - which is fine for a day - above 1410 and 25 look at buys and under 1380 and 60 looks at more sells

GU - another teaser - will it go over 5480 and even 5500 - or are we staying with the LHs and lows of this morning so far ??

Meanwhile get ready for the 3 red news announcements -2 on US dollar - 1 on EU and lets see the after Midday and US session action

Good Trading


F

PS - will open this journal up to proper followers of my Intraday thread next month - but meanwhile any queries are welcome in other Intraday threads

 

[Forexmospherian]

After 5 00 pm UK today - Thursday 19th Feb

I think any trader who has followed my method know how time and key times in time windows are so important.

When you see a group of FX pairs all reach interim peaks or lows and then turn all at the same time - you have cracked it.

I generally catch interim lows and sell from interim highs - every day - sometimes as a scalp for just 3 -7 pips - and then other times - they go on to make 25 - or 60 or even 200 pips over day.

I always place my stops in profit after a good scalp move over 10 pips - and then if i am up say 35 pips on a 30% stake - i might trail 15 pips lower or just move my stops with the moves every hour or so.

It still allows me to babysit main scalps for 5 -15 mins - and then I cab switch off and even if I have 6 trades all with stake on - I can relax - knowing if my stops are in profit - I have no more risk - ie a win - win scenario.

Here are 4 pairs from 5 00 pm today - ie last hour

More charts then later to follow

 

[Forexmospherian]

After 5 00 pm UK today - Thursday 19th Feb - Part 2

From after 5 00 pm tonight there was actually 6 good set ups - with another one being my favourite Intraday pair - the EJ

Within 1 hr this pair was worth approx 50 pips - approx 30 on the sell and then 20 + on the scalp buy after 5 39 pm - end of half hr time window

If we then add on the other 4 pairs after 5 00 pm - we have following ( based on 30% stakes with stops left in just a few pips of initial profit )

EU - 30 + pips and still open

GU - 42 pips and still open

AU - 24 + pips and still open

UCad - opposite move from 5 00 pm - 35 pips max - still open in 16 pips of profit

Add them all up - and even after London close - this evening had in total 180 pips available off 6 trades based over 4 hrs - with the hardest thing being moving the stop into more profit.

If Major Magnum had been around ( on Holiday ) then I reckon he would have made over 200 pips after LC with say about 9 trades.

I have not made an extra 90 pips so far - as late to the party on 2 pairs and then out far too early - due to other diversions - ( footy and East Enders )

Still it just shows the importance of catching a few trades at Key Times - and when they are all in unison - you know you will get a nice move with extra pips etc


Good Trading


F

 

[Forexmospherian]

Live FX calls in advance on the other Intraday Tread.

Yesterday - Friday 20th February was a very good trading day for me.

It was the first time this week that I did not have a school / college run - or any appointments with the dentist or dropping the car off for a service etc etc - and so was able to be here at my desk for the London Open hour.

I started yesterday at my desk at 6 15 am UK time.

Normally I start between 6 30 and 6 45 am every day - and finish my trading day sometime between 4 00 and 5 30 pm. Rarely do I start before 6 00 am or finish after 6 00 pm -only if there is important US news after LC or if I know I an going to miss an hour or 90 mins before 9 00 am

I had another new member ask more about my live calls and so I thought I would cover it in more detail on this journal - Its called the "Devil in the Detail" thread for a reason - and details are important - even though many discard them and love to paint a different picture of what I do

So - into the detail - starting with yesterday and then from November 2nd 2013.

In the other daily thread - Intraday Live short term trading calls from an Expert Retail Forex Trader - I covered and traded 6 pairs yesterday.

My calls on trades were as follows

EU - 9 calls / EJ - 11 calls / GU - 6 calls / UCad - 4 calls / UJ - 4 calls / AU 2 calls

So in total 36 trade calls over approx 10 hrs. I only took in total 23 trades ( more than normal ) and I reckon yesterday I called 7 trades LIVE IN ADVANCE before the move began

At least another 20 calls had more movements in my direction after my call which might have been 3 to 8 mins after my live trade price I took.

The other calls were non specific - ie add more scalp sells if this price is reached - or exited 70% stake and left 30% on with stop in profit at a price.

I am going to post examples of LIVE CALLS IN ADVANCE from yesterday a bit later - but must explain - being a short term Intraday trader / also scalper - My entries prices are key - I cannot call them say 30 mins or a couple of hrs before my entry - as then that would be guessing - and I am not a fortune teller - and my entry price for any trade is crucial - I need accuracy within a couple of pips - especially with all my stops with spreads being under 5 -7 pips maximum - and some from 3 pip stops - as examples from yesterday to follow.

These are the FACTS - not a myth or fiction or a dream

I am not an alert service or selling anything - but the members who follow using my set up on a I min LR chart along with TW's know my 2 time windows - and also the 6 times of the hour I take trades.

These 6 times every hour - might give me just on one pair 1 or 2 trades every hour - sometimes even 3 trades an hour - other times ins slow BTTZ areas - not even one trade per hour.

So they see what I am doing.

Any follower on a 5 or 15 min or even 60 min chart will not see what I am doing - they will not understand why I enter at a specific time with a tight stop loss - their charts would not be giving them the information I work with etc etc.

OK - some example of LIVE CALLS from yesterday will be shown on this thread later on

Meanwhile - another FACT

I have worked out I have doing my daily thread for over 250 trading days on this Forum. In that time I have made approx 5000 + FX trading calls - with at least 600 calls - LIVE IN ADVANCE OF THE MOVEMENTS.

Now if any member would like to dispute this - as well as any other points - they are welcome to do that on the respective threads.

BUT remember - I have the facts to support me

Regards


F

 

[Forexmospherian]

Friday 20th February - Examples of Live Calls - in ADVANCE of moves

EU

6 43 AM

Easy one from start of 6 30 am TW and really 6 20 /21 am and 1365 - ie scalp sell

I expected it to stop by 58 -60 - but surprised - it went lower than yesterday to 1355.

I am down to 30% and now moved stop to 61/62 - and waiting to see if we do try under 50

If we dont then I will exit 30% stake before 61

EU

6 48 am

I am out my 30% stake at 58 - we have not tried under 54 or 50 for now but notice - under 64 /66 - we should be able to sell again - as price structure for this hour is still bearish

We need to keep an eye on 30 min rule as well - as if that works - different scenario

1360 at 7 00 am was a scalp sell - but I would be out before 62 if we dont see under 55

Taken 70% off at 52 and 30% left on whilst under 57

Out EU at 1343 and EJ at 134 82

PA suggests scalp buys now - but need to see over 7 pip bounces and then would try and scalp buy on pullbacks if still above lows

Example above on the EU

Time stamps start at 6 43 am - with the 7 00 am scalp sell on EU at 7 01 am and my exit of trade with price then 17 pips lower at 7 19 am

My comments were therefore in advance of the start of the scalp sell and 19 mins later the move for me at that time had finished - ie 17 pips in profit.

For me - this is a LIVE CALL TRADE - IN ADVANCE

This is one example of 7 from Friday out of the 36 trade calls I commented on with then approx 20 calls moving further my direction after my call comment - even if my entry was taken 1 to 9 minutes before the call comment hits the thread.

I plan to keep showing examples of my live calls on FX pairs in advance to emphasise the fact that "cheap words" by many members who are not really following what I am doing can ruin credibility of any trader.

Thankfully genuine traders/ members who are following correctly and have been for many weeks or months or longer - such as Major Magnum and NVP and other less high profile or newer members have by now realised - I am the "real deal" and I am rare retail FX trader than can "walk the walk" as well as "talk the talk".

Hopefully by the time I have finished my threads here - there will be a few more ;-)

Good Trading

F

 

[Forexmospherian]

Live FX calls in advance on the other Intraday Tread - Friday 20th Feb 2015

AU

6 55 am

AU is set up slightly different to European pairs - above 7800 its PS favours bull moves for this early session

We need to see above 7815 and 22 to hold on scalp buys etc and sell really can only be held on longer under 7790 and 80

AU

7 25 am

Slowly been rising up to 7815

Pullbacks staying above 7809/10 are scalp buys for now - but need over 22 to stay with them or take more

AU

7 47 am

Now made 7821

Will exit 70% stake and leave 30% on with stop in profit at 13

AU

8 07 am

Price now at 7831 and I will exit if we dont make over 35 in next 5 mins or if we fall under 28

Time stamps show my call on the AU scalp buy was approx over 1 hr before my exit at a higher price

Yet again - another LIVE FX CALL IN ADVANCE OF THE MOVE.

More to follow

Good Trading


F

 

[Forexmospherian]

More Live FX calls in advance on the other Intraday Tread - Friday 20th Feb 2015

EJ

6 46 am

Exactly same set up at EU - but did not jump in it at 6 21am and 135 10 area

It made 135 01 and now bouncing

By rights under 13 we should be able to scalp sell again

Same on EJ with drop - both breached low within 30 mins

7 14 am

EU down at 1340

EJ down at 134 80

Moved 30% stops in profit to 134 93 and 1349

Will take hits OK and then reviews to see if we look for scalp buys if no new lows

Out EU at 1343 and EJ at 134 82

PA suggests scalp buys now - but need to see over 7 pip bounces and then would try and scalp buy on pullbacks if still above lows

7 42 am

Those scalp buy bounces so far

EU up 19 pips

EJ up 22 pips

👍

This example of 2 scalps on the EJ

one scalp sell for approx 24 pips - and one scalp buy for 22 pips approx

All within approx 55 mins - check thread numbers and time stamps

Yet again - more LIVE CALLS IN ADVANCE OF THE MOVES

Good Trading


F

 

[Forexmospherian]

More Live FX calls in advance on the other Intraday Tread - Friday 20th Feb 2015

1 36 pm

Need to watch 30 min rule now on new interim highs and lows now

With EU down to 1280 area and EJ down to 133 65 areas - lets see if they can hold

they can be scalp bought with 3 pip stops above lows - but dont sell again until lows attre breached by at least 5 or 6 more pips

OK - was I lucky on both EU and EJ as they shot up quicker than I thought

70% off both after 20 pip rises

My that was good - liked that

EU

1 51 pm

now 1315 to 1330 is all R area

Unless we can breach above both in next 30 mins I would be looking at scalp selling etc

Above 1295 we are still scalp bullish for now

EJ

134 15 / 18 is similar main R to overcome for staying with scalp buys

133 88 is cut off on my buys for now

EU

2 00 pm and 1315 and I exited 30% stake and scalp sold for now

EJ


Same as EU at 134 12

Will take scalp sells off quickly on 70% stakes

I am either extremely lucky - or on a roll ;-)

This as been a good day so far - don't plan to push my luck too far - so now lower stake size and playing safe for US session

2 great calls - in advance of the moves on the EU and EJ

Over 75 pips on those 2 scalp trades on the EU and EJ - all before the US session - on top of the other 60+ pips made early AM

Yet again - more examples of LIVE CALLS IN ADVANCE on Friday 20th February 2015

Good Trading


F

 

[Forexmospherian]

More Live FX calls in advance on the other Intraday Tread - Friday 20th Feb 2015

AU

3 00 pm

After rising approx 45 pips after opens - it then peaked and dropped as a sell after 1 00 pm and 2 21 pm

Now at 3 00 pm at 7811

7800 to 7810 is all support area - look for bounces and scalp buys in next 8 mins - or if not after 3 21 pm

nice buy I guess hah

30 min rules to look at - and now 70% stake profits banked on UCad and AU

The AU was a scalp buy from a low at 7811 - the scalp part was worth 18 -20 pips net

the 30% left on was worth 35 pips - but any exit over 25 pips was fine - and its still above entry at the close of business on Friday evening - but i do not normally leave trades on over the weekend - only if they are already up over say 150 pips in profit with a stop in profit anyway

As I scalp bought the AU - and had also scalp sold the UCad - as in normal times oppositely correlated - that was another successful trade.

Yet more again examples of LIVE FX INTRADAY TRADES CALLED IN ADVANCE OF THE MOVES

I need not go on - but I will over the next week - with more examples of Live Call in advance - just to rub it in for the doubters - who still think you just cannot trade with live money how I trade.

Its a shame but they are wrong - but its only possible with years of experience and study and commitment and hard work - the type of stuff most dissers or losers are just not interested in.

I will never be 100% correct . I will have most days 1 or 4 bad trades with losses of just 2 pips to 5 pips - but i will have 10 or 12 or 15 or more good trades with wins far greater than my losers.

That is the recipe for success - multi intraday trades with ultra tight stops - it need not be 25 -50 trades a day - 5 good winning trades in a row - and I could it I want stop for the day - but normally I dont - as normally we don't every day have 5 or 10 or 15 winning consecutive good trades - in fact even I have some morning when i have 2 or 3 bad trades in a row - Its all part of trading

Regards


F

 

[Forexmospherian]

EU - 22nd January to the 20th February 2015 - a month in its life.

I have been trading the EU for approx 13 years of which at least 10 of those years have been on an Intraday basis.

Its not my favourite FX Intraday pair. It can be OK - but because it the most heavily traded pair in the FX market - its involved in lots of manipulation and gameplay or false sentiment - simply because huge amount of money is bet on its movements and the larger players want to take advantage of that and have the gains from all the retail traders and of course the smaller commercial funds who lack the super computers and inside news information and are not in the real inner circle of movers and shakers etc.

I have chosen this period of time to demonstrate how retail traders can be mislead by trends / fortune tellers and of course Banks.

Remember - if they want your money off you via you taking wrong trades - they need to feed you misinformation - either by charts or via false price and even false inaccurate COT information and pre news wrong set ups etc

On January 22nd the EU had been at its high at 1650

On January 25th - Sunday evening - the EU at its low was at 1097 - an approx 550 pip difference in just over 2 tradings

Since that date we have not moved out the approx 550 pip range - we have stayed in it for approx 20 trading days

In fact its stayed in a 300 pip range of 1225 to 1525 approx for 18 trading days and so many longer term swing traders have been stuck - and not know really what to do - ie do they take profits from sells above 1600 - or do they stay with sells and await for moves under 1200 and 1100 and even lower ??

What ever they do - it trading inefficiently - ie far better ways are available - it fine if you are an investor with say $50k or $100k on long term trades that you review quarterly or twice yearly - but its no good if you are a small retail trader wanting to grow your account from say $2k to $20k or $50k.

If the EU as stayed in a 300 pip range for say 18 trading days and you use stops of say 100 pips and want targets of say 200+ pips - you are not going to have had too many trades in that last 18 days - say 1 or 2 maximum

If you have stops of say 30 -50 pips and after trades of say 75 to 125 pips - OK you might have got 3 or even 4 or 5 trades - especially if you trade as both a bull and a bear

If you intraday trade the EU - and know what you are doing - and can trade both ways - then I would have expected you to have taken a minimum 50 trades in the last 18 trading days and even at only a 60% win ratio i would think you should have made at least 400 pips or 500 pips net from it.

During those 18 trading days - the EU as actually moved approx 2500 pips

Yes 2500 pips in a 300 pip range.

In a 24 hr day - the majority of the pip movements - ie over 65% happen during the 2 main sessions - so lets say 1600 -1700 pips are in your sessions - and if you are good and experienced you should be taking 35 to 50% of those pips - ie 600 to 850 pips - whether on 5 trades or 50 trades or even 100 trades in 18 working days.

I just hope you have and if you have - Well Done

If you have not - take time out and review your style and method / commitment etc etc and up your game - because it is possible and you should be saying yes I want those pips

Even though the EU is only 1 of 8 pairs I have traded in the last month - and its not my favourite - I have easily made my tally on the pair. In fact its only third on my list - with the UCad and EJ making me more pips.

I thinks it important you review the pairs you trade as well as your own performance

Remember - you are trading to make money - it's not going to land in your lap with you doing nothing 😉

Good Trading


F

 

[Forexmospherian]

GU - Tuesday 24th February - One hour of TW's - 3 scalps - 50 pips

I have finally finished for today - and again - a great Intraday trading day .

I do realise many members here must get totally fed up with me continually have good profitable trading days - because they have read or heard that in real life using real money this cannot happen.

My answer

RUBBISH.

Its all down to experience - discipline - focus - strong mindset - and not listening to all the BS put out by the industry.

I think most of you know - my daily FX pip target is 50 pips.

For years it was 20 pips then 25 - then 30 and its only been last 2 years I have ramped it up to 50 pips - simply - because its all possible - when you do know what you are doing. I dont stop at 50 pips - but in my mind - I place pressure on making at least that amount of pips - whether it takes 2 hrs or 12 hrs +

Today - my favourite pair - the EJ - I have hardly traded it - its been the UCad / EU / GU and even the UJ in preference.

I am showing you 4 key times in one hour on the GU in the US session - ie 2 time windows and how LRs and PA help me make some great stops - all with small stops - ie maximum 5 pips in GU case

Scalp number 1 - 4 09 pm and GU at 5472. Not in exactly at top but in within 3 pips. This drops 19 pips for me in my first time allowance

Scalp number 2 - 4 51 pm 5446 down to 5430 low with 5 00 pm exit - 15 pips net

Scalp number 3 - 5 01 scalp buy - 5433 to 5454 - at 5 09 pm - 20 pips net

So 4 KT's and 3 scalps - 54 pips - lets call in 50 pips in the hour

RR's in total - 10 - yes 10

So on 1 % stake - 10% gain on your account in the hour

on 2% stake - 20% gain in the hour - with low risk

For me it was not even 1% as I did leave 30% on for part moves

Now this is 1 hour in my trading day

Yes a very good hour - but it just shows even with only using 1% of your capital - that its possible to make 10% gain on your account in the hour

OK - I am very experienced - years at it - but the Industry would no way want you to know this is possible

BUT IT IS !!!!

 

[Forexmospherian]

Friday 27th February 2015 - AM Session and the GU pair

Its been a busy morning in the FX market - for me from 6 30 am to approx 9 30 am

Its not been that easy - as the market makers have been playing games and to coin a phrase - "pumping and dumping " money in too pairs - just to add confusion and of course trying the decouple correlations and set false sentiment into chart directions.

Any trader just trading off say 4 hr or daily /weekly charts will maybe not have a clue what I am on about - as they might not be keen on any "noise" ie for me 2- 5 pips - for them 50 -100 pips -.

Intraday action is just a pain and cannot be traded according to most longer swing or position traders and they will be comfortable with 50 + pip stops and targets of say 150 to 400 + pips or more.

That's fine - but as we all know inefficient and not really going to help you get your RR winning trades of 3 + under 30 mins - more like 30 hrs or 3 or 4 days.

The idea of the game is to make money - ideally the more the better and less risk and inefficiency the better.

To do that you need to speculate - and you need to risk being wrong - ideally though you want to know if you are wrong within 2-5 minutes- not 2 or 5 hours - thats wasting your time and day.

To do that you have to learn how to scalp and work in the noise at what I call the "coalface" - the tick to 3 minute charts.

Its difficult - its takes 1000's of hours to improve your skills - you will never be 100% correct - in fact anything over 65% is good - and even with the correct tight stop technique you can have only a 30% win ratio on say 3 trades but still come out with nice pips if the winning trade makes a RR of 4 or 6 or even 10 - as very possible many days.

You can scalp many different ways .

I tried various - but have perfected my own method over thousands of live trades and hopefully any body reading this knows the main clues I use

One indicator no other FX traders mention enough - is actually time of the hour

For me its one of 4 main clues - along with maybe a possible 8 clues i need for a high probability scalp trade.

I am going to post the GU chart from this morning to show you what i mean

I did not catch every pip on 2 easy scalps - in fact I took about 5 trades on it and 2 were just for for minor pips - until I caught the big one ;-)

I do plan to open this thread up to genuine followers next month - but because of all the hassle I have had off dissers etc - I just cannot it be a free for all - I end up arguing and then might cross the rules line again and end up getting banned all together.

That would spoil my daily boredom in between my intraday trades - and I dont want to end up visiting more FX forums and having the same problem lol

OK - more to follow next