Intraday Live short term trading calls from an Expert Retail Forex Trader

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Always remember MM - you are dealing with true robbing bar stewards in this game - they would sell your grandmother and your children if they could ;-)
 
Hi Guys

Tried a few times to get on after 2 00 pm - but could not

Just tried after 5 00 pm and now OK

Yes - what an afternoon - what a drop on EU / EJ and GU - could not get round to any other pairs

Took my first scalp buy at 1 39 pm at 2997/8 area - made 26+ pips and then when we did not try over 3045 and 50 - knew it was another sell - confirmed under 2990 then

Now down at 2920 area - so mega pips of about 5 sells and a couple of buys this afternoon

Hope you all have had a good day

Regards


F
 
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attached is the message as i tried to sell eu at the top.
i cannot begin to say how pissed off i am
 

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MajorMagnuM said:
attached is the message as i tried to sell eu at the top.
i cannot begin to say how pissed off i am
Click to expand...

I think 99% of brokers / dealers etc even with ECN and straight through to market can have problems at key news events

This on at 12 45 pm was massive - ie Euro interest rate cut and so everybody and their dog would want to get sells on etc - as it had not been 100% expected - in fact many thought that would not happen

Interesting whether you had problems say 5 mins later on next half hr or later etc?

Sometimes you just need 1 min - and then you can get in a trade

Regards


F
 
Forexmospherian said:
I think 99% of brokers / dealers etc even with ECN and straight through to market can have problems at key news events

This on at 12 45 pm was massive - ie Euro interest rate cut and so everybody and their dog would want to get sells on etc - as it had not been 100% expected - in fact many thought that would not happen

Interesting whether you had problems say 5 mins later on next half hr or later etc?

Sometimes you just need 1 min - and then you can get in a trade

Regards


F
Click to expand...

you are correct it was clearly overload, as did manage to get some other scalps on after
 
MajorMagnuM said:
attached is the message as i tried to sell eu at the top.
i cannot begin to say how pissed off i am
Click to expand...

It's tough to see it from the other guys side but they could have been killed if they hadn't protected themselves in this way, the volatility was ridiculous and they wouldn't have been able to outright hedge in that sort of market.

But look at the momentum, you could have got a directional in any time in the following 3 hours, scalp or not, and made a few buns.

If you'd been long on vol going into that you wouldn't have cared which way it went and although the rate cut wasn't expected, it wasn't totally off the radar and the ABS was the least well kept secret of the week, not specifically the detail but that it wither would or wouldn't get mentioned. Either way it was going to spike vol.
 
MajorMagnuM said:
attached is the message as i tried to sell eu at the top.
i cannot begin to say how pissed off i am
Click to expand...

Hi MM - Sorry to hear. Just for info I followed up on this issue for you.

I've just spoken to your broker and confirmed the background. Basically the liquidity providers pulled liquidity from the exchange (and many other venues). In your case there was a period of a few seconds where the market was all one-sided and so became 'untrusted' (you can read about this in the trading manual execution policy). I also have the full details regarding: times, price levels, trade volumes etc.

It was an exceptional move over the number - do be aware that trading (on any platform) over these events can leave you exposed to execution risks - this also happens on the institutional side, not just retail. It's worth having this type of thing in your risk plan.

Hope this helps, feel free to contact me if you wish to discuss further (oh and please disregard my PM, that was sent before the broker spoke to me).
 
Thursday evening - not trading now - but looking at key pairs for tomorrow and NFP as well - making it a Freaky Friday

I have always heard gurus and even many experienced traders say - "Dont be too greedy" - Be happy with your gains" etc etc - and dont lose them or give them back to the market etc.

Well that's another myth to crack - "take what you can when you can get it" - and tomorrow - whilst not expecting another 200 + pip day - don't rest on your laurels and think - I have had a good week so far - dont ruin it been greedy etc - get it in the bank for rainy days ;-)

Looking at key pairs - EU low so far 2920 - so easily a 200 pip drop - GU near 6300 - so 140 pips or so - EJ - another 200 pip fall - Swissy - 140+ pip rise - GJ - only 110 pip drop and wait for it EA - over 270 pip drop

So on 6 pairs - over 1000 pip available - even if on 30% free trades - that like 300+ pips on scalps - ie over a weeks targets in one day.

Did I get that many - NO

If you got 50% of them today - you did extremely well - and even 30% on 3 or 4 pairs - you have had a cracking day

Good Trading for tomorrow ;-)

Regards

F
 
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