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Price Action Short-Term Trading Futures and Forex

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187 views

Price Action Short-Term Trading Futures and Forex

Uploaded by

fawadkhantemp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Scalping the Futures and Forex Market

Price Action Short-Term


Trading Futures and Forex
By: Alson Chew
By: Alson Chew
[email protected]
All Adam Khoo Updated Courses, Communities and CSM
Available. Courses From other creators also Available.
© 2021 Piranha Pte Ltd. All rights reserved.

Copyright © 2020 Adam Khoo Learning Technologies Group Pte Ltd. All Rights Reserved. 1
PRICE ACTION SHORT TERM TRADING

What is Short-Term Trading?

Short-term trading can also be called scalping or intra-day trading. Short-term trading is a specialized
trading skill or trading style with a time horizon of usually less than 1 trading day.

Types of Products Recommended for Short-Term Trading

✓ Spot Forex or Futures Products.

Point to note: Short-term trading in stocks may incur higher commission rates and risk of holding
overnight positions.

What do you need?

Steel of patience and discipline to exit the positions with pre-determined profit or loss level. The trader
can set a minimum Risk to Reward ratio of 1.5 to a max of 2.5 depending on his/her temperament and
style of trading.
➢ Use the XSPY Risk Management excel to help size your trade correctly

The short-term trader should focus on a maximum of 3 products and adhere to strict risk and
psychological management in the face of quick win or losses. Due to the nature of short-term trading,
the trader has to make quick trading decisions and be familiar with trade execution tools. Therefore, the
aspiring short-term trader is advised to practice this specialized skill set on paper first before going live.

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved. 2
PRICE ACTION SHORT TERM TRADING

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved.
PRICE ACTION SHORT TERM TRADING
With market structure UR1 confirmed and
EXE forms with force of the key levels as
shown, the trader take on the short trade.

Since price wave down towards


mid day session, we plot a new
green line for Asian session high as
shown

Note the deliberate flush up in price


movement towards current Asian session high
and previous session high key levels.
Therefore, the market structure forms the
basis for UR1.

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved.
PRICE ACTION SHORT TERM TRADING

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved.
PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved.
PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved.
PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING
[email protected]

© 2021 Piranha Pte Ltd. All rights reserved.


PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved. 15


PRICE ACTION SHORT TERM TRADING

[email protected]

© 2021 Piranha Pte Ltd. All rights reserved. 16


PRICE ACTION SHORT TERM TRADING

[email protected]
© 2021 Piranha Pte Ltd. All rights reserved. 17
PRICE ACTION SHORT TERM TRADING

Summary

Short term trading on futures or spot forex requires patience and lots of practice. Due to the higher
frequency of trades, it is important to choose a low transaction cost broker for the products you are
trading. Due to higher leverage nature of short term trade, the trader must cut loss mercilessly when a
trade is invalidated. In addition, always close out short term trade positions before major market moving
news event.
[email protected]
Key points to note
1) Plot the various key swing levels
2) Be familiar with certain product timings and characteristics
3) Execute reversal or continuation trades based on market structure strategies and EXE signs.
4) Risk management with pre-determine entry and exits levels
5) Never go into a trade without a SL
6) Practice
7) And more practice

“Uncertainty and risk stemming from it are the very core of trading. Without risk, there would be no
potential for profit. Traders take on risk in exchange for the potential for making money. That is their
function. The ones who do this well make money. The ones who do this poorly lose money. This is the
essence of the game.” Turtle Trader Curtis Faith in Inside the Mind of the Turtles.

© 2021 Piranha Pte Ltd. All rights reserved.


Scalping the Futures and Forex Market

Price Action Short-Term


Trading Futures and Forex
By: Alson Chew
By: Alson Chew
[email protected]
All Adam Khoo Updated Courses, Communities and CSM
Available. Courses From other creators also Available.
© 2021 Piranha Pte Ltd. All rights reserved.

Copyright © 2020 Adam Khoo Learning Technologies Group Pte Ltd. All Rights Reserved. 19

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