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 2:18pm: 9 mins after the hour change on EU - and price still falling ;-))

Comment by Peter jcp on February 1, 2013 at 2:28pm: This chart shows EU -first hour change after NFP - 9 mins before hr change - and 9 mins after still falling - so sell with supports then to hold - question is which supports?? - but remember half hr bounces and then 9 mins again - ;-))

Comment by Peter jcp on February 1, 2013 at 2:37pm: 5 mins after 30 min change and price at 3600 - 70 pip fall - will it carry on past 9 mins ??

Comment by pixta on February 1, 2013 at 2:40pm: 1.3600 is the last supp I think...

Comment by Peter jcp on February 1, 2013 at 2:43pm: Hi Pixta - we only have confirmation for 3600 as a low - either after 30 mins from 5 mins past half hr change - or if price can go back over 3631. I can scalp buy - but as you might guess under 3602 would be scalp selling again ;-))

Comment by Peter jcp on February 1, 2013 at 2:51pm: Missing next 30 mins - school run ( !:!!!^^+!!!) You cannot really look at any buys again until price goes back over 3605 - 3621 and 3631 - cu later

Comment by Lisa on February 1, 2013 at 3:00pm: Safe travels, Peter.

You should get a data phone, really ...

it’s so helpful.

Although, it’s also good to get away from the monitors for a bit & fresh air. ☁ ☼ ☁

That is the best way to get a new perspective and come back *refreshed*.

I suppose it depends on how long one has to be away from the office ✿

Definitely don’t want to be a Fibo ! ٩(-̮̮̃•̃)۶

Comment by Romano on February 1, 2013 at 3:03pm: Peter, since 9min is close to 10min, would be trading or watching 10min TF candlesticks and their research have same effect? I mean, instead of seeing on 1h if its reversing last 9min, simply to either check last 10min candle(s) before final that close 1h TF(or set of 2x 5min ones).

Comment by Peter jcp on February 1, 2013 at 3:26pm: Very true Lisa - I suppose it depends on the action as well - but yes need to get a platform on my mobile - or get it wired up into my Sat Nav on the car ;-)) The kids can learn to trade then on the way back from school - it fact it would have been cheaper to send a chauffeur driven limo today as guessed a "game ploy" and so left scalp buy prices.

Did you notice low on EU at 9 mins to hour change ?

Romano - yes 10 min candles are OK around the hour change - but just would not give me my accuracy - even a tick chart is too lagging - so I want to know at 30 second intervals when price hits highs and lows - as even 3 mins can be 10-15 pips in volatile times .

We should still have a lower high under the 3670's - but then we must break supports again to go lower

Comment by Peter jcp on February 1, 2013 at 3:46pm: Price at 3670 now with 14 mins to hr change - you have guessed it - watch timings either side hr change again - GL

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