Intraday Trading the Forex market to make consistent profit

[Forexmospherian]

Brief Review 1 week after I opened this thread

I don't expect everyone to agree and believe everything I will be saying - but I will say it is based on my own FX retail trading experience of which over the last 6 years as been as a full time trader.

I don't sell courses or books / dvd's or do any trading lectures. I only trade spot fx - nothing else - not even gold or silver - so my own particular method or strategy should only be applied to currencies - as that is the only product I have ever used it on

OK

Its one week since I started this thread and i think it's important to just recap some of my own finding I have already mentioned - but unfortunately have been side lined by other members - for what ever reasons they may have.

This comment above was made in the opening thread comment

I would like everyone to read that first thread again and remember I am saying it from my own experience - and I have no reason at all to be misleading anyone

After 6 yrs of full time retail fx trading - if you honestly think I am still on a demo account or still trade on 1 mini lot per pip - no problem for me - but obviously you have a problem yourself

If you honestly think this is an elaborate "scam" - ie a new way or ripping off fx traders etc - then also please believe that really I am a relative of Bernard Madoff and part of the "bandit club" and taught Bruno Iksil everything I know about risk management - then I am sorry - simple fact - you are wrong

Key points so far before I try and move on to week 2 -

1 Can you see or foresee the future with confidence ?? - for me only short term - I am not a fortune teller - and beyond 15 - 30 -60 mins - I cannot forecast with the accuracy I require

2,I am a 99% technical trader and only use the fundamentals for maybe less than 1 % of the time - OK might be wrong here could be even as high as 5% :-0

3 I want the smallest stop possible - one of my fellow colleagues who I got to know over the last 2 yrs on another site - and is a member here - as being working with 2-4 pip stops via Dukascopy and as been progressing his timing extremely well

Yes reading PA at the coalface is also key - and although I can read it with just "eyeballs" - i do find my quick LR's give me additional help and assistance on small direction changes

4 Do you use static targets and dead analysis ? - well I don't

5 Then this caused a problem - the dreaded 2% - ie

Hi guys - yes - i agree with LV and DJ

I am speaking with forked tongue here - as with my own main account with over $50 -70k in it - I rarely use over 1 % on 5 pip stops - and my free trades can be as low as 0. 2% stakes and when I have 2 scalp on I am on 0 .4 / 5 %

However on smaller account sizes under 10k - I personally would use 2 % stake sizes - even with 5 pip stops - but only because I feel I have a good enough track record to get away with it.

6 Next point - this thread and my other trading thread are not really for new traders - ie repeat - NOT FOR NEW TRADERS WITH LESS THAN SAY A YEAR'S EXPERIENCE

They are geared at traders who might have been studying forex trading for 2- 5 yrs and not really getting anywhere. They need to know and understand all the basics and ideally to have traded "live" with real money - at least 50 times

7 How to get a perfect scalp entry - 10 points I mentioned

8 "You need to be dynamic and totally flexible - remember all you want is to keep making money - every day - every week and every month"

"To do that you have to be flexible - and to get use to losing."

"Entries are paramount"

9 I tried naked price reading for about 6 months

Could not get the accuracy for entries on sweet spot scalps within 1- 3 pips I need

Time windows assist me a lot - and would agree most indicators are not that helpful on any standard settings

10 note (and am shamelessly now duplicating) the 5 pip trading system where you load up a trade then exit X% of stake after hitting around 5+ pips ..........you are virtually in free trade territory then and well earned indeed if the trade runs ..........this confuses the Hell out of many reading you but they just need to go research the principles or multiple staking on entry / exit techniques and realise its probably one of the major holy grail secrets re MM - one size does not fit all ....

a quote from NVP on the "free trade"

11 To me - simple systems are never the best

They normally give simple results

This is a very complex and dynamic market - and if simple works why do 90% of traders never get to make consistent gains - on going - and I don't mean just 30% per annum - for retailers that just a failure - for commercial institutions with 100's of mill - yes then 30% per annum is a great success

12 Flexibility to me is key - Fixed rules can sometimes work against you

13 I have revealed in the other thread that I try and enter and exit all my scalp trades within the 30 and 60 min "time windows"

A time window is from 9 mins to the hr or half hr - to 9 mins past the hr or half hr

I have not read or been told about this window - I discovered it myself about 3 years ago

14 The Devil is in the detail - the coalface and the noise are the place to be for good RR's - quick trades and believe it or not -

THE HIGHEST PROBABILITIES

OK - they are some of the key points so far

Now to move on and explain more on method - multi trading and making a profit everyday

I notice there as been over 6000 thread pages reads this week - pity that many have been connected to "off topic" subjects.

I repeat it is no problem at all - healthy debate is good - trying to deliberately derail or "diss" a thread totally is out of order - but does it really bother me .......... NO

So for all the members who want to hear about more of my methods on intraday trading - i will carry on this next week

Regards

F

 

[Forexmospherian]

Thanks for the advice. I'll leave it to the site admin to decide on how they treat me and my long run average posting behaviour.

Some advice for you now. Have a think about why you felt compelled to chastise me.

Hi Robster

I think you know why I felt compelled to chastise you

Really. its not personal - as I don't know you - or even anyone else on this site - as I have never met any member or even talked to them via skype or whatever

However - you and several other long standing members abuse and take advantage of the sites rules and regulations - and deliberately want a "face off"

You flaunt disobedience.

Nothing wrong at all in having a bit of fun in between the serious side of the forum - and therefore i think if this was done in the area allowed - ie off topic / the Foyer - then fine

Similar if any old timer member - ie the ones who have been here for say over 4 or 5 years - (notice many over 8 and 10 yrs) are not happy with T2W's policies and admin side - then why not take it up with them privately

Why criticise a free forum totally openly in public and expect them to relax and change rules to suit just the minority

All these multi nic characters - the lastest two being "Ballard" and a great one - "Lambo man on demo account" or similar are just "p*ss takers" and really want disruption and trouble

Don't worry - I am not part of the FX Police and i am not saying every member need to say "yes sir - no sir - 3 bags full" etc but its a shame for T2W - as their site is being devalued and down graded by all this "cr*p" and non related trading stuff

Only my feelings - but I get the feeling that say 70% + off all members might agree with me

If I am totally wrong - I would not believe it - not base on my experience ;-)

Regards

F

 

[Forexmospherian]

Morning F

You sure poked that stick in the small hours and look at the shake=out! I'm not sure if you find it entertaining - many of us do but welcome when the thread returns to form.

Thanks for replying a few days ago - I should have said that I have been live trading DAX for nearly three years with over 1000 live trades and plenty of experience of losing, withing a framework of profitable and consistent trading. I'm happy with my strategy and don't intend to change this any time soon.

I have tested Forex trading in this time and have overall B/E. Definitely totally different markets and I;m determined to study more to become better. I look forward to more of your system as a subscriber.

I'm totally comfortable with people posting unsubstantiated results and v happy to take them at their word. You've said that you use a complexx system which you're prepared to share with others who are prepared to put much work in to be able to understand it, and you promised it would take plenty of time to roll it out. So I cant see why so many people have adjudicated so early in the explanation - seems to me that a system that needs a certain threshold of knowledge and experience creates its own barrier to access and therefore cant offer wrong advice to those unready to receive it.

Regards

Jack

Hi Jack

You seem like an ideal member for me to teach you more of FX trading totally live and open on the forum

You have the necessary experience elsewhere - open minded - seem intelligent and wanting to crack FX - and most important - not a "disser" or pee artist and wanting to know all the secrets and tips in 1 week

I cannot guarantee you will be as good as MM as turned out ( ie within 4 months) - but the only way to find out is starting this month

You are most welcome and please join in this week when convenient so I can do some trades with you

Regards

F

 

[tar]

BTW re multinicks :

DAX30DayTrader was banned at 19/10 .
Then CryingOverSpiltMilk joined at the 25/10 and get banned at the same day .
Then Forexmospherian came and joined at 27/10 !

Anyone who think that this is just a coincidence then they are naive and simple - sorry - , look at the simple and innocent comments in DAX30DayTrader thread : " please don't leave us ... etc " , but apparently DAX30 turned to be someone else :

"It has been uncovered that this thread's original poster, DAX30, was Mr. Spreadbetting all along. He is a notorious, recurring scammer on T2W. For further details on the events that have transpired in this thread, please see the following discussion." VielGeld .

 

[Forexmospherian]

BTW re multinicks :

DAX30DayTrader was banned at 19/10 .
Then CryingOverSpiltMilk joined at the 25/10 and get banned at the same day .
Then Forexmospherian came and joined at 27/10 !

Anyone who think that this is just a coincidence then they are naive and simple - sorry - , look at the simple and innocent comments in DAX30DayTrader thread : " please don't leave us ... etc " , but apparently DAX30 turned to be someone else :

"It has been uncovered that this thread's original poster, DAX30, was Mr. Spreadbetting all along. He is a notorious, recurring scammer on T2W. For further details on the events that have transpired in this thread, please see the following discussion." VielGeld .

Tar

Unbelievable - talking about eating humble pie ......... you have now got a table full to eat -lol

I am nobody else but me - Forexmospherian

My first name is Peter

For just over 2 years I blogged at Forexstreet as Peter JCP

I am 60 yrs old

I do live in the Midlands - worked at senior level and Director of 2 companies with Richard Branson in the mid 80's - did 2 MBO's in the 90's - sold out in 2001/2 and semi retired.

I started Forex trading in 2002/3 - went full time in 2007/8

I traded £150 per pip (approx 25 lots ) per pip in 2008 / 9 with GFT UK ltd ( with 7 pip stops as well )

I am not any other character you might think I am - and you are 100% incorrect - probably as usual

If you want to bet say what £5 k or even £10k - yes 10000 big ones that I am telling any lie here - you are welcome to

Problem is after you have lost - you need to pay me the same

So now stick that in your pipe and smoke it

As Ballard says ( yes a multi nic) -

"You have lost all credibility" - thats YOU - Tar and anyone else who thinks the same

What's that saying --

"The truth can hurt"

Well it must be hurting a few pratts here tonight

All the above is the honest 100% truth and can be verified

Best Regards

F

 

[Sir Gissachance]

ForeXmospherian - "Walk with me awhile"

Dear All,

I will put 10k next to any ForeXmospherian that Peter is telling the Truth.

Best Regards,

Sir Gissachance (PPND)

 

[sonofcablemonster]

Dear All,

I will put 10k next to any ForeXmospherian that Peter is telling the Truth.

Best Regards,

Sir Gissachance (PPND)

you guys have your own private forum

http://forexmosphere.ning.com/members?page=1

it seems a lot of the posters on forexmos/ threads are part of this other forum.

hmmmmmmm. bizarre.

 

[Forexmospherian]

Telling the truth is bizarre as well on this forum SCM

I can even imagine your "buddies" are probably still thinking I am Mr SB or some other ex fraudster who's been on this site before - simply because they are just so out of touch and even stupid - and for certain - a group of losers

I just hope you are not one as well

Regards

F

 

[Yorkshire Terrier]

you guys have your own private forum

http://forexmosphere.ning.com/members?page=1

it seems a lot of the posters on forexmos/ threads are part of this other forum.

hmmmmmmm. bizarre.

If you look @ my profile on that site you will see i joined in Feb, i was curios about Forexmosphere and what was happening over there and you will see i have never made a post.

I also invest in company shares and when looking at a new company i alway exercise due diligence and do my own research, like wise with anything i intend to spent MY VALUABLE TIME ON.

 

[Yorkshire Terrier]

PS: I'm also a member of the human race..

 

[Forexmospherian]

If you were forced to make genuine live calls, then i'm sure you'd do no better than lots of them posters to be fair.
There's been some very good ones over the years in fact.

Hi Morgan

I would have to 100% disagree with this part of your comment

I am an expert fx scalper - not by accident - but purely through experience and thousands and thousands of live trades

I am not saying on say 100 calls - I would get 95% or even 85% correct all the while - even with an average 5 pip stop - but then I would not expect to be as low as 65 - 70% - that would be a bad week or so.

Trouble is swing traders just don't always see that even when I make a mistake - and only get out with plus 4 or even just plus 1 as that counting as a trade call

Many also just do not follow that when I make say an 8 pip win - its a RR of 1.5 ( one and a half )

That is exactly like a swing trader making 300 pip profit with a 200 pip stop

The swing traders trade take what 2 or 4 + days - my 8 pip scalp might take just 4 minutes

Entry and accuracy are paramount

Its a skill that takes time to develop - but for sure means that any LIVE call I make will have a very good chance of going positive

The fact that any trade under say 5 minutes is really a waste of time on these forums - unless as many do the members following - update the page every 30 seconds or less

So in conclusion - I would no way be making all the average calls I have seen being made by so many of the T2W traders - mine would have a lot higher win ratio

Regards

F

PS - also just so you know - I have not made one PM for the whole 4 months I have been on this site - and only offer to help other traders - FREE - upfront on the forum thread - ie nothing going on behind the scenes at all - and this can be confirmed by T2W mods and admin

 

[tar]

Tar

Unbelievable - talking about eating humble pie ......... you have now got a table full to eat -lol


F

We will see what kind of pie you are going to eat

 

[tar]

PS - also just so you know - I have not made one PM for the whole 4 months I have been on this site - and only offer to help other traders - FREE - upfront on the forum thread - ie nothing going on behind the scenes at all - and this can be confirmed by T2W mods and admin

Irrelevant , they will sign-up later outside T2W , its easy they search your name and sign-up , case in point : YT signed up in your group forum .

:smart:

 

[tar]

Many also just do not follow that when I make say an 8 pip win - its a RR of 1.5 ( one and a half )

That is exactly like a swing trader making 300 pip profit with a 200 pip stop

The swing traders trade take what 2 or 4 + days - my 8 pip scalp might take just 4 minutes

Entry and accuracy are paramount

Big difference , because in your 5 pips SL you will pay at least 1.5 pips in spreads and slippage ... etc , lets say just 1 pip so thats 20% of your SL gone already in costs , now the swing trader with 200 pip will pay just as the same = 1-2 pips not 20%=40 pips .

 

[tar]

The fact that any trade under say 5 minutes is really a waste of time on these forums - unless as many do the members following - update the page every 30 seconds or less

So in conclusion - I would no way be making all the average calls I have seen being made by so many of the T2W traders - mine would have a lot higher win ratio

Regards

That's exactly what i did in Friday , i followed your thread and looked at your GBP levels level by level and posted the results , you was horrible , then ofcourse you started cursing and spitting all over the place !

Its not my fault its your own levels and posts and you are the one who said refresh the thread every 30 seconds ... etc .
Then you started moving goalposts : Cable was already near 50 you posted "now the high is 35" , then after 2 minutes you made a post ok now it is 52 take 70% off

1- You even didnt go long from the first place you just playing numbers and words , but i was following you.

GU - now at that infamous price - 6731 - lol - and trying to break it

Now what did I say in my old comments about 5 times - forgot now ;-)))

Then

3 21 pm - will it matter yet or not ??

Look how you manipulate words "will it matter" , you cant even say long , you are afraid it may reverse you play the words game here , you are not a real trader , maybe you took the trade maybe not but why play games be a man and say Long , but no you first want to be sure you are in the green b4 you say long .

2- You then saw that it went your way so you moved goalposts and considered yourself long !

Anyway this is just an example of how you manipulate things and words and play with numbers and the wordings and lately moving goalposts by changing the highs and the lows of the candle !

Thats how you do it :
You throw in a number and a few words with it "tease" , "scalp buy" , "above" , "below" ... etc
and if it went your way you will say ok i told you guys will lock in some profits .. etc i am up XXX for the day.
but if it went against you you would say "i didnt take it" "was waiting for confirmation" "got out at -2 pips loss" or even better you would say "i took 2 pips of the table" .!

Trouble is - as you all know - I dont make really bad calls - and any I get wrong - I am out - under 5 pips loss - that if i am not out already with a 1 or 2 pip profit

I have absolutely nothing to prove

So now your target is just 1-2 pips ?

If thats the case then you did much worse in Friday in GBP .


Mate seriously just take Seinfeld's advice to George and go to Vienna

 

[fx_]

really bad I waste my time

I'm a technical guy, don't like long post where is no substance!
I see here many post from all, but only little information what will help!

also from the thread starter, sorry but Forexmospherian you also only let yourself drag in the kindergarden fight.

why you not show some of your trades and so you give a proof of your expert scalper status. I told you the way and make two sample, the way to show trades.

in this thread I see from you also only what I read in your other trade already because I do my homework and read the whole thread before the cleanup.

so now you say already 90% of you style you tell us already, sorry but this was only 2% some new info for me, thanks for that, but all other a serious trader know already.
and for all beginner, before you trade by real $$, learn this stuff, but here is the wrong place for that.

so at last I will not longer follow here, wish you all a peaceful time.
but only same in this world I don't believe it will be.

cheers

 

[sonofcablemonster]

Look how you manipulate words "will it matter" , you cant even say long , you are afraid it may reverse you play the words game here , you are not a real trader , maybe you took the trade maybe not but why play games be a man and say Long , but no you first want to be sure you are in the green b4 you say long.........

Well quite. How someone can write 6000+ posts on a 'live' call thread without once saying 'I got long/short at X' i dont know.

 

[Forexmospherian]

I think the "enemy" here are not getting nervous - they need to put up or shut up now

The "old guard" are now reverting to total nonsense to try and score some "browny points"

Sorry guys - you now both look pathetic and just so others know - SCM even befriended me a few months ago

Why - I dont know ?

Now I do - he just does not believe I am who I am - and thinks I must be selling something or I am a previous multi nic rogue who has been banned before

Well on this one I will say point blank -

I will gladly pay you - who ever you are - £10000 - in cash if that was correct.

Similar if you still honestly believe you are correct - I am afraid this is really now getting slanderous

I therefore suggest you and Tar need to stop commenting now - and take legal advice

OR within 24 hrs make a full and unreserved apology

Sorry it as come to this - but its in your court now guys

I have to be "bothered" when you have "idiots" saying total untruths

With regret

Forexmospherian

 

[Forexmospherian]

fx

i am sorry you have been distracted By the nonsense that as taken place on the other thread

I think you only said - you had been having your best week in February and thanked me for getting you to look at scalping some other FX pairs

No problem - I dont blame you not wanting you be caught up with all the "rubbish" that as surrounded my original thread from day one

I wish you well in your future trading - and of course you are welcome back once the "dissers" have gone away

All the best

Regards

F

 

[Sir Gissachance]

Telling the truth is bizarre as well on this forum SCM

I can even imagine your "buddies" are probably still thinking I am Mr SB or some other ex fraudster who's been on this site before - simply because they are just so out of touch and even stupid - and for certain - a group of losers

I just hope you are not one as well

Regards

F

Dear ForeXmospherian,

Can you run a spell check please because it is apparent that you missed the "U" out in the name SCM.

Best Regards,
Sir Gissachance (PPND)