Intraday Trading the Forex market to make consistent profit

[Forexmospherian]

Hi TRO

Will go through your updates and copy my EJ charts along with present updates after lunch

Been scalp selling EJ a few times under 91 this morning and so far we have only dropped to 139 69 so far

 

[TheRumpledOne]

Good day, F.

Here is what I see when the LR45 is not crossed by price. The red thumbs down shows that entry resulted in a draw down. Waiting for the red thumbs up, had no drawdown and was profitable.

Am I missing something, F?

 

[Forexmospherian]

Good day, F.

Here is what I see when the LR45 is not crossed by price. The red thumbs down shows that entry resulted in a draw down. Waiting for the red thumbs up, had no drawdown and was profitable.

Am I missing something, F?

Morning TRO

Yes will explain - for me its the rest of the price equation - ie PA and S & R and time

Quick white LRs might be saying - yes we want to go under price and follow it up higher - but PA and resistance - and most importantly - the rest of the LR price structure are saying we can go lower until we find a support we cannot breach under - then when we find one - then thats were price will stop and turn up

Will post my chart of your "thumbs area - good and bad" with rest of structure to compare etc

To follow


Regards


F

 

[Forexmospherian]

The longer view - Note 2 longest Lrs - ie 750-900 and 280-300 settings are saying price down as price is under these Lrs

Now into the detail - with 4 possible scalps - all in time windows - as marked -

 

[TheRumpledOne]

The short trade using the 2 quick white LRs was a better entry than the LR45 this time.

F, is there a logical way to know when to trade the quick LRs and when not to?

 

[Forexmospherian]

The short trade using the 2 quick white LRs was a better entry than the LR45 this time.

F, is there a logical way to know when to trade the quick LRs and when not to?

Normally - every 12 mins - 18 mins - that is when changes generally happen - whether just 3- 5 pip moves - or even larger 7 -25 pip moves

Some very slow hrs - I dont take one trade on a pair

In busy periods with good volumes I am after 2 -3 trades per hr

Out for about an hr or so - but back later


Regards


F

 

[counter_violent]

The short trade using the 2 quick white LRs was a better entry than the LR45 this time.

F, is there a logical way to know when to trade the quick LRs and when not to?

!

 

[TheRumpledOne]

Looking at the multimeter and seeing how many LRs are supporting my longs... keeps my finger off the trigger.

 

[TheRumpledOne]

!

Last edited by counter_violent; Today at 7:45am. Reason: can't be bothered

Care to explain??

You're a moderator... is something wrong ??

 

[TheRumpledOne]

Hey F:

Changed the candle color multimeter to show how many like colored candles in a row.

Guess you can tell I am a numbers guy.

 

[Forexmospherian]

Looking at the multimeter and seeing how many LRs are supporting my longs... keeps my finger off the trigger.

Was not back in time - but for me - 3 51 pm - your time - west side US - 7 51am - was time to look at exiting a scalp buy - and then after the hr change at 4 00 pm - your time 8 00 am - a scalp sell - with us needing to stay above 139 31 to re scalp buy again

 

[Forexmospherian]

EJ sell from 4 00 pm TW

Was not back in time - but for me - 3 51 pm - your time - west side US - 7 51am - was time to look at exiting a scalp buy - and then after the hr change at 4 00 pm - your time 8 00 am - a scalp sell - with us needing to stay above 139 31 to re scalp buy again

EJ - 31 went

 

[Forexmospherian]

EJ - 1 Min LR chart for the day of 9th June

Extra 30 -40 pips taking a scalp sell and then buy rather than trying to stay with a buy 5 hrs ago - and we are still not at the same level we sold from

 

[TheRumpledOne]

F:

I appreciate your charts and comments but they are not moving this project along.

For each of those arrows, if you fill out the questions I asked a few pages ago, THEN I would have something I could work with. I know there is some gold here and that's why I keep mining.

 

[Forexmospherian]

F:

I appreciate your charts and comments but they are not moving this project along.

For each of those arrows, if you fill out the questions I asked a few pages ago, THEN I would have something I could work with. I know there is some gold here and that's why I keep mining.

Filled the question sheet out on Sunday ? - please check back

With regards to each arrow - its important for you to take on board - besides the LR's you need to be able to code in - time windows - as you have already done - but also then S & R areas - purely based on price areas not breached in the last few hrs

ie a classic example on EJ - the price yesterday was not able to breach above 139 40 45 - a resistance area from 4 00 pm UK time

This was tested last night at 11 pm UK time - ie 3 pm your time - and when price cannot breach a S or R area - we then get a turn - with first clue - the 3 quick lrs turning over or under price

In this case on the EJ - which as been in a down bias from Sunday - the second test lead to a larger 50 pip fall down to under 139 95

How you code up S & R areas - i dont know - other than being areas where the 3 quick Lrs have turned in a previous session ?

The LRs are the simple part of the method / system - BUT - if you dont want to keep taking scalp trades every approx 12 - 18 mins etc - then the rest of the components need to go into the equation

Regards


F

 

[tdezo]

Last edited by counter_violent; Today at 7:45am. Reason: can't be bothered

Care to explain??

You're a moderator... is something wrong ??

Moderate Moderators?

 

[TheRumpledOne]

F:

I made another question video. Hopefully, I can upload later today...

 

[Forexmospherian]

F:

I made another question video. Hopefully, I can upload later today...

Good Morning TRO

No problem - look forward to going through the next questions

EJ along with other Euro pairs as carried on falling

138 44 - the low as not been breached for 30 mins - so that favour price trying up again - so any white LRs under get scalp buying

Problem is we then need over 69 and say 73 to have any chance of a turn working - along with any pullbacks then staying above say 48/50

Hope the last list on questions I filled in Sunday was OK


Regards


F

 

[Forexmospherian]

EJ - 1 Min LR Chart with scalp buys and one sell - 25+ pips in approx an hr of 3 trades - all really just scalps

Well its got to 69 now in the half hr time window - I am already on 30% as taken 70% profit out

 

[TheRumpledOne]

F:

Please watch: http://youtu.be/BhO8nS7CzQI