Intraday Trading the Forex market to make consistent profit

[piggybridges]

time windows from a scientist/philosopher:

 

[andrac]

Thank - you for posting
The flow into - and out of - the market, and the relation to time - is the greatest "indicator" of all......:clap: (I would not buy this chap's "wares" - a stop watch is cheaper)

time windows from a scientist/philosopher:

 

[tar]

time windows from a scientist/philosopher:

"its not my fault i discovered it" :clap:

Nonsense , ofcourse the whole market is priced by algos and computers no new here , but no one is going to program an algo in a such an obvious simple way that's stupid .

http://en.wikipedia.org/wiki/Anecdotal_evidence

 

[piggybridges]

I hope you listened to the whole thing.
Some of his funniest (and anti semitic) vids were removed by youtube, unfortunately.

 

[tar]

I hope you listened to the whole thing.
.

Yes i did , to be fair to him its their fault after all "they should've made it more sophisticated where i wouldn't be able to see it"

 

[Mr Fox]

time windows from a scientist/philosopher:

P.S. Now where have I read about time windows before.

Best
John

 

[Forexmospherian]

So have we all got a stopwatch - an LR chart - and know how to win a battle now ??

Just listening on the news about currency manipulation again - what a shock - surely Banks and commercial institutions are all honourable trustworthy people

What a shock !!

 

[Forexmospherian]

Today - the GBP /USD as been a great FX pair to do a case study on - loved it so far and thats even before the US session

Will post charts here and explain how I tackled it today - which can the be confirmed by calls in advance - I will repeat that - in advance of the actual moves

Hopefully start before 5 00 pm - but will take a few comments and charts to get in all in

Regards

F

 

[Forexmospherian]

Forgot to do GU case study on today's moves - Wednesday 12th March

I will see if there is a better mover tomorrow and if not will start on it during the day

Meanwhile the GU was a great pair for both scalp buys and sells today

See main chart attached

Regards

F

 

[andrac]

Nice chart - I love "naked" trading........(just kidding)
Actually, its pretty clean compared to mine....

 

[Forexmospherian]

Will add some more on to this thread over the weekend

I think its time to get onto the the "free trade" concept and how to incorporate it with intraday short term trading

i am pleased a few more traders are trading my method over the last few weeks and that Major Magnum has now gone live,

I have had a great week - mainly because price as been going everywhere - up - down - and sideways on a lot of my main trading pairs - offering great opportunities for intraday traders who are prepared to both buy and sell at the appropriate interim levels

Remember - I do follow the trend - and the trend for me is any movement of more than 3 pips ;-))

Have a nice weekend

Regards

F

 

[Forexmospherian]

Another Update before the "Free Trade" part

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

This comment is from March 1st - approx 2 weeks ago

I hope to now be able to continue - again

Please read some of my key points in my method listed above

I have added game play last week and now this weekend with cover the "Free Trade" along with the use of tight stops

Regards

F

 

[Forexmospherian]

Example

 

[Forexmospherian]

A Scalp + Free trade example on AU

There are many ways to operate a so called Free Trade and I will explain this chart one - as an example - before going into alternative Free Trade managements

 

[andrac]

Very Nice Tableau

J'ai, si je peux, poser trois questions

1. C'est un deux - ou trois - minutes tableau "chiffonné"?
2. Quels sont les jaunes et verts de chaux Linéaires?
3. Pas de support et indicateur de résistance?

Merci à l'avance

There are many ways to operate a so called Free Trade and I will explain this chart one - as an example - before going into alternative Free Trade managements

 

[Forexmospherian]

Bonjour andrac

1 one min chart

2. LR settings from 120 to green approx 290 -320

3.on work on interim S & R 's - eyeballed horizontal - but lined dynamically along with time windows - with 5 shown. I do show horizontal S & R's when I think they are significant from the past day or week - but with the scalping trade - am more into new real time dynamic S & R that can be 1- 5 pips out from where I though they would be

Hope that helps - will be going into a lot more later on today

Regards

F

 

[andrac]

That's great - thank-you

I shall follow this thread with interest'. I kind of like a 70/90 Linear on a tick chart - and an indie that helps find new sup/res after/before the change-over - ideally looking for a LH, HL etc.
I suspect you shall have some dis-respect because you "scalp" - I'm of the view forex is a tough market-place - and however you make your money - is all good'.

Have a great week

Thank-you once again

Andrac

Bonjour andrac

1 one min chart

2. LR settings from 120 to green approx 290 -320

3.on work on interim S & R 's - eyeballed horizontal - but lined dynamically along with time windows - with 5 shown. I do show horizontal S & R's when I think they are significant from the past day or week - but with the scalping trade - am more into new real time dynamic S & R that can be 1- 5 pips out from where I though they would be

Hope that helps - will be going into a lot more later on today

Regards

F

 

[Forexmospherian]

The "Free trade" concept

The idea of a free trade is to use a percentage of your winnings from a short term trade on with a stop in profit.

The outcome is then a "win win" - ie you either get stopped with a small profit - ie 2- 10 pips - or the trade never goes back to the stop and the move continues for another 10 or 50 in the session or 200 or even 1000+ pips over days and weeks

It can be brought into operation in various ways - and then allows you to sit back with no real stress - whilst reviewing and trading other pairs - -knowing you risk is under complete control - with minimum management.

I have used the AU from this week as an example - see previous chart

Prior to this last week we had a AU yearly high of approx 9134

From then the AU had fallen over 200 pips and then once it cleared 9050 - to me it had the chance of going higher - even above 9134

So on Thursday I first took a lovely SSS - ( sweet spot scalp) at the end of the midday time window with 9054 as the stop and took 100% stake off with a profit of just 8 pips.

I then looked for another scalp buy - as long as we stayed above 9054.

9058 became next entry and then after we made over 8 pips - I only took 70% of my stake off - leaving 30% of the stake on with the stop at 55 again

So at this stage - I had one scalp win for 8 pips net and $480 and another scalp by win for 9 pips - but at only 70% stake ( approx) - ie 4 lots and $360 - so total so far - $840

I was now exposed with the 30% free trade" with a possibility of losing 3 pips at 30% stake - ie 2 lots x 3 = $60

Within the next 10 mins we stayed above 55 and then made 68 allowing me to move the 30% stop up to b/e and then into profit after we achieved another high at 73/4

So I had turned down taking 100% off for 9 pips - ie an extra $180 on top of the $840 I had banked - and exposed my self to worse case scenario of a $60 loss on the $840 I had banked

That did not happen as probability wise - the low had not been breached in 30 mins and we had done HH's and HL's

The 30% free trade then went on to make 45 pips and topped at 9103

No I did not get all those pips as I was in other trades - but had locked 25 pips in profit moving the stop up

So even with no further MM - ( my fault could have had say 35 pips ) the 25 pips at 30% stake of 2 lots had made $500 - for really a risk of $60

The 30% stake free trade had made more money then the 70% stake on the scalp - ie $500 against $360 and so with 2 trades - total gain - 480 + 360 + 500 = $ 1340

Most good single run scalps make say 12 - 20 pips - so even on 100% stake with 20 pip gain - I would not have made as much as using the "free trade"

It also freed me up to trade another pairs - without having to scalp babysit

Ideally on the second scalp you want to be able to see over 12 + pips - so you can immediately place you 30% stake stop in a profit from go - that stop can be just 1- 5 pips - still allowing enough for small pullbacks.

The fact that the AU then did a LH at 9103 and it then dropped over 100 pips - became another great chance for 2 scalps sells and a "free trade" 30% sell with stop in profit

In fact it could have been left on over the weekend - but another guide I have is taking free trades off the same day - unless the move is a large one over 100+ pips in profit at end of day

I also don't like moves coming back to lose more than 30% of what I already have in the kitty

So on the example I used if it made 50 pips up - I should have made at least 35 pips out of it . - On a 25 pip move i want at least 17 pips and on say 150 pip move - at least 100+ pips

This is just one example of a "free trade" and getting your stop into profit asap

You can also carry on scalping with a free trade and then work out - free trade scalps - ie using a % of existing unclaimed gain - for the stake on another scalp

You have to speculate to accumulate - but if you can speculate using a % of your day's winning - then you are in advanced money management mode - and not exposing your existing capital

I bet you have not read that anywhere else ;-)

Regards

F

 

[Sir Gissachance]

Dear Forexmospherian,

Another great thread post by you and so wonderfully explained to all dear fellow. A complete joy to read. This weeks CB's are also in and published now. Have a great week and see you very soon.
Best Regards,
Sir Gissachance (PPND)

 

[Forexmospherian]

Dear Forexmospherian,

Another great thread post by you and so wonderfully explained to all dear fellow. A complete joy to read. This weeks CB's are also in and published now. Have a great week and see you very soon.
Best Regards,
Sir Gissachance (PPND)

Cheers Sir G - will check them out now

Have a great week

Regards

F