Intraday Timings - 9 Minute Rule

A couple of traders have asked me to explain some of my own timing rules.

Today we have had perfect examples of one of my "own rules" - ie the 9 minute rule.

I am showing a different GU Tick chart - ( another one I am currently testing) with a classic example of how "time" can assist you to intraday trade.

Many members know I am always going on about 30 minute and 60 minute time changes and how important they are - with regards to money flows. So for me I have a stopwatch and use time as one of my important indicators - for catching scalps and intraday trades.

Approximately 9 minutes either side a 30 min or One Hour time frame change is an important time for changes in small wave patterns - ie traders exiting trades and traders entering new trades.

Exactly on the hour the GU dropped - shown on tick chart ( EU also did the same)

So scalpers should have been selling - but the important part is when do you exit.

I normally try to exit and enter new trades around the 9 minute mark.

If the scalp sell had continued to fall after 9 mins past a main time frame - I would have stayed with the sell.

In this case we bottomed and then a HL and a chance for a scalp buy - for another 20 -30 pips within 30 minutes

I do have other timing rules and as you can imagine - the players and their robots never stick to the same patterns or routines - day in or day out - they change them

Therefore I use my stop watch to clock them :-)))

I am sure i will get lost of questions regarding this subject and i will say - you will not be able to read this from anywhere - simply because its my own findings - which I don't mind sharing with FX Street members.

Unfortunately - its not really for beginners or new traders - you need to get a good level and understand many other aspects of intra day trading to progress it - but at least it helps to explain why I am able to be successful scalping and to normally maintain over 70% accuracy ( 90% some times - but like all traders I make mistakes - because I am only human )

Regards

Peter

15 members like this

Comment by Peter jcp on February 1, 2013 at 3:51pm: We were all very bullish early today - but all knowing EU is OB - so players allow a 90 pips drop to set the sentiment - and then carry on up - but dont worry - they will not catch us out ;-)))

Comment by Peter jcp on February 1, 2013 at 3:53pm: We are still trying up - but for guide for scalp selling - price under 70 - 61 and 55

Comment by Lisa on February 1, 2013 at 5:19pm: EUR/USD on SUPPORT 1.36742 (round / about) ...

lunchtime in NY ~ tea time in the UK ٩(-̮̮̃•̃)۶ c[_]

Comment by Peter jcp on February 1, 2013 at 5:32pm: Yes Lisa - when you look left on the chart you can see 71-75 was a topping area earlier on today and so a good support. I need under 61 and 55 then 31 for lower really

Comment by Lisa on February 1, 2013 at 5:34pm

Comment by Peter jcp on February 1, 2013 at 5:49pm

Comment by Uschi on February 1, 2013 at 6:18pm: hi peter, as the market is quiet now, i can ask you if my thoughts are going in the right direction:: in this last half hour change 18 min we perfectly arrived at the 70 level, and my ichimoku kijun-sen (longer tm) and i exit my short as price stopped there, but then i didn´t know what to do, i considered a long, but several points were against it, so i did nothing, waiting for the next hour change, now the odds are for an other short entry, do i see this right, when and how, will this be confirmed, at the end of the 9min?

Comment by Uschi on February 1, 2013 at 6:26pm: in fact, now the 9 min are over, and price is still under 70, is this a trigger?

here am i in the right blog now, i hope i have not made to much confusion and thank you for your answer peter, i must think about and observe furthermore

Comment by Peter jcp on February 1, 2013 at 6:31pm: No Problem Uschi - we are coming up to half hr change now and price at 3664/5 - I am finishing now - but will wait to see if we try under 61 and 55. I can see supports are trying to hold around this area and so good time to close for me. Watch up to next 9 mins to see if we drop further - if not we might be tailing off now . GL - and have a great weekend