Intraday Trading the Forex market to make consistent profit

[TheRumpledOne]

F:

Here is a link to the FREE screen capture program that I use. It is really simple and intuitive to use. The only limitation is maximum recording of 15 minutes. Hopefully, you can make some videos.

Cheers mate!

 

[TheRumpledOne]

probably best to compare and fit , as i have found that the numbers are inconsistent across platforms and instruments

OK.. thanks, MajorMagnuM.

Are you trading this method?

 

[Forexmospherian]

Hi TRO

Regarding main points and queries you raised on your video -

1. Yes - there will always be waiting periods - were price is in what I call a BTTZ - ie a Bermuda Triangle Time Zone. Its where the range is tight and the price is just teasing up and down - but failing to make or break barriers or interim highs or lows. Normally a BTTZ might last anything from 30 mins to 2hrs

2.Yes - the 3 white quick Lrs are my main trigger to take scalps - especially when they turn in time windows and at interim highs and interim lows - or S & R

3.No - white over red and yellow is not a sell - until the white has gone over price - turned down and then carries on crossing under the red and yellow - and even the green if its going to be a larger move.. For a buy the opposite -white lrs need to turn under price and then take it up and breach above the red yellow etc and keep going for a larger move

4 - conflicting signals - no trade - as you know even a scalper has to sit on their hands at times. it might only be for 15 -30 mins - it might be even longer

5 Yes 2 or more signals or clues is a sign to look for a trade - but normally I am looking for even more clues and not just from the LR's - but in time windows - S & R - trendlines - 30 mins holds on highs and lows PA - as you say HL's on even a 1 min and then HH's or opposite.

6 Time to trade indicator - yes normally the time windows - 9 mins either side the 30 min and 60 min frames changes are the time to take new trades or exit existing ones. Over 70% of the changes happens in thse time windows

7 Definition of PA - as yours HH' s and HL's or opposites - even on a 1 min candle or bar but with Interim S & R''s needing to be breached as well

As S or R barrier can just stop a move in its tracks - even if volumes and movements wants a new direction - it would all depend on the amount of money involved - and the amount against it - as we know

8 - White Lrs are the start for all my trades - scalps to even 500 pip moves. But i wont take everyone if all the other clues are not there - as I dont want to manually scalp 50+ times a day for small pips - I prefer to catch the 7 -25 pip moves in under 30 mins

9 Multi time frames - For me any frame over 60 mins - is a waste of time for intraday trading

I do look at monthly and weekly charts etc for the bigger map and to see the larger boundaries - but for everyday intraday - i just could not care - or be bothered what the 4 hr - daily - weekly etc are doing - so I dont waste my time with them

Instead I check out the tick - 1 min - 3 min and even 10/ 20 mins for correlations along with the 30 min and 60 mins if i am bored or have time to spend whilst sitting on my hands.

The devil is in the detail - most noise can be traded for profit - and it can be very rewarding and profitable.

When you have it more sussed and have coding for what we need - we can open a say $500 account and take it up say 1000% in a month on less than a 100 -150 trades - but without silly stake sizes - mainly all under 5% but with proper sized accounts over $50k - I only use 1% and even less - as I am risk averse and I could not handle 25 full lots on a 5 pip stop when I last tried it - it gave me sweaty hands and palpitations - but that was over 4 yrs ago - and since then I have improved ;-)

Hope this all helps


Regards

F

PS - yes as MM says many platforms show setting differently - they are not that accurate - but agree my yellow is different to yours - but my yellow/ orange dotted at 170 setting is similar

Will check out and give you other suggestions

 

[TheRumpledOne]

EURPJY gapped up so took the short.... the 3 white LRs gave a profitable entry.

F: I added the candle color history sub window 6 to see the colors of the 5 min, H1, D1 and W1 candles. Of course, I can change those via inputs. But I want to see if I am swimming with or against the current.

 

[TheRumpledOne]

TIME TO WAIT so no entry.

3.No - white over red and yellow is not a sell - until the white has gone over price - turned down and then carries on crossing under the red and yellow - and even the green if its going to be a larger move.. For a buy the opposite -white lrs need to turn under price and then take it up and breach above the red yellow etc and keep going for a larger move

- GOT IT... added code to indicator.

 

[TheRumpledOne]

F:

Here is my definition of PA:

PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.

 

[TheRumpledOne]

F:

Don't know if this will help you at all but this is the frequency distributions for EURJPY HIGH - CLOSE and CLOSE - LOW for the last 100 days.

I call the area within 20 pips of the current daily high and current daily low the RAT ZONES. Price usually reverses at least 20 pips or more. The "edge" is about 66%

 

[TheRumpledOne]

Price is above all 9 LRs - GOOD SELL but I think there is more to it, F... is that correct?

 

[Forexmospherian]

Hi Tro

If price is above all 9 Lr's - thats shows a BUY - ie going up

Its when price is below all 9 Lrs that it is already in a good sell ;-)

Regards

F

 

[Forexmospherian]

EJ - 1 min LR Chart for Monday 2nd June AM

Will go through some more of the questions later TRO

Have posted the EJ chart - I started selling after 6 00 am UK time and then 3 hrs later after 9 00 am UK time - it was time for the turn

Regards

F

 

[TheRumpledOne]

Hi Tro

If price is above all 9 Lr's - thats shows a BUY - ie going up

Its when price is below all 9 Lrs that it is already in a good sell ;-)

Regards

F

"The only way I know I should be looking at a good move - ie over 10 pips up to 50+ pips is when all the 9 Lrs line up - under or over price in a time window and at a S or R."

OK, now I am confused?!?!?

I got a GOOD BUY signal from the 9 LR indicator when price was BELOW all 9 LRs. But now you are telling me, it is IN A GOOD SELL.

 

[TheRumpledOne]

Hi Tro

If price is above all 9 Lr's - thats shows a BUY - ie going up

Its when price is below all 9 Lrs that it is already in a good sell ;-)

Regards

F

"The only way I know I should be looking at a good move - ie over 10 pips up to 50+ pips is when all the 9 Lrs line up - under or over price in a time window and at a S or R."

OK, now I am confused?!?!?

I got a GOOD BUY signal from the 9 LR indicator when price was BELOW all 9 LRs. But now you are telling me, it is IN A GOOD SELL.

 

[TheRumpledOne]

Will go through some more of the questions later TRO

Have posted the EJ chart - I started selling after 6 00 am UK time and then 3 hrs later after 9 00 am UK time - it was time for the turn

Regards

F

Got 2 sell signals ...

 

[Forexmospherian]

Hi Tro

Well lets break it down step by step

If you check through my charts - normally before before any main move - you get a contra - false move

But like today on one of the charts I have posted - I think its the EJ - but will check - when price is above all 9 lrs - then price should carry on going up higher.

Similar - when price falls under all 9 Lrs - then price should carry on lower

Yes you will get a great buy if price is under all Lrs but cannot breach a support and then turns - first with the 3 white Lrs and then carry on - ABOVE - all the other 6 lrs into a great buy
#
Similar yes a good sell can happen when price is over all 9 lrs - but hits a Resistance it cannot breach

Then the 3 quick white Lrs will go over price - and if they are able to push price down - UNDER all the other 6 Lrs you have a great SELL

But check out the charts - when price goes above all 9 Lrs - price carries on up to a R it cannot breach

Similarly - if price is under all 9 lrs - its should carry on falling - until it hits a support it cannot break

THese S & R;s can be major daily weekly or monthly pivots

Tonight I have caught a buy on the EU after it stopped 3 pips above its last months low

But whllst 9 lrs were over price it was a sell - as soon an 1 then 2 then 3 white lrs went under - it changed it to a scalp buy - but whilst the 3 longer term Lrs are still above price ie say up to 3606 - it could still drop further - as its not got all 9 lrs under it

hope all that makes sense to you

Just off for tea - but around later


Regards


F

 

[TheRumpledOne]

F:

Don't know if this will help you at all but this is the frequency distributions for EURJPY HIGH - CLOSE and CLOSE - LOW for the last 100 days.

I call the area within 20 pips of the current daily high and current daily low the RAT ZONES. Price usually reverses at least 20 pips or more. The "edge" is about 66%

See how price moves 20 pips off of the dailys highs and lows!

 

[TheRumpledOne]

Hi Tro

Well lets break it down step by step

If you check through my charts - normally before before any main move - you get a contra - false move

But like today on one of the charts I have posted - I think its the EJ - but will check - when price is above all 9 lrs - then price should carry on going up higher.

Similar - when price falls under all 9 Lrs - then price should carry on lower

Yes you will get a great buy if price is under all Lrs but cannot breach a support and then turns - first with the 3 white Lrs and then carry on - ABOVE - all the other 6 lrs into a great buy
#
Similar yes a good sell can happen when price is over all 9 lrs - but hits a Resistance it cannot breach

Then the 3 quick white Lrs will go over price - and if they are able to push price down - UNDER all the other 6 Lrs you have a great SELL

But check out the charts - when price goes above all 9 Lrs - price carries on up to a R it cannot breach

Similarly - if price is under all 9 lrs - its should carry on falling - until it hits a support it cannot break

THese S & R;s can be major daily weekly or monthly pivots

Tonight I have caught a buy on the EU after it stopped 3 pips above its last months low

But whllst 9 lrs were over price it was a sell - as soon an 1 then 2 then 3 white lrs went under - it changed it to a scalp buy - but whilst the 3 longer term Lrs are still above price ie say up to 3606 - it could still drop further - as its not got all 9 lrs under it

hope all that makes sense to you

Just off for tea - but around later


Regards


F

F:

I appreciate your commentary but what I really need are IF x THEN y ELSE z type of answers as specific as possible otherwise, I really can't code prose unless I can decipher it first.

 

[Forexmospherian]

"The only way I know I should be looking at a good move - ie over 10 pips up to 50+ pips is when all the 9 Lrs line up - under or over price in a time window and at a S or R."

OK, now I am confused?!?!?

I got a GOOD BUY signal from the 9 LR indicator when price was BELOW all 9 LRs. But now you are telling me, it is IN A GOOD SELL.

Ok - trying to think how I explain this - because I can see what you are getting confused with

The good buy signal when price was under all 9Lr's was because the fall had stopped in a time window due to interim support.

At that point - or within 1-3 mins of it stopping the white quick lrs would be going under price and turning with price going up

so from then you no longer had all 9 Lrs over price - only 6 - with the 3 quick White Lrs saying buy

Then price continues up and over the other 6 lrs and continues

Its is a stronger buy with more Lrs under it - so when all 9 are under again it continues up again

When it then hits a R area it cannot breach first time - then you no longer have all the 9 lrs under price - in fact then 3 white quick lrs have gone over

I hope this explains your point

The white quick Lrs are the trigger points for change in directions

Then its a case of how many of the other 6 lrs assist or not so

So to emphasise again - when all 9 Lrs are over price - price should FALL

When all 9 lrs and under price - price should RISE

Regards


F

 

[TheRumpledOne]

F:

When all 9 Lrs are over price - price should FALL

When all 9 lrs and under price - price should RISE

THIS IS EXACTLY ALL I NEED!!

This also helps somewhat:

The white quick Lrs are the trigger points for change in directions

Then its a case of how many of the other 6 lrs assist or not so

 

[Forexmospherian]

F:

When all 9 Lrs are over price - price should FALL

When all 9 lrs and under price - price should RISE

THIS IS EXACTLY ALL I NEED!!

This also helps somewhat:

The white quick Lrs are the trigger points for change in directions

Then its a case of how many of the other 6 lrs assist or not so

 

[TheRumpledOne]

F:

Are my indicators displaying the proper messages now?