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

[MajorMagnuM]

ok i dont know what it wants to do now. watching

 

[MajorMagnuM]

sold ej again, as i can see it dropping 20 pips. will stop if wrong , cant have another 3 pip hit or 2 pip gain

 

[MajorMagnuM]

4 pip stop!

 

[MajorMagnuM]

well 30 seems to be holding so im flat again

 

[MajorMagnuM]

well i need to work more on this. that was definitely a ss ( dy supp also broke)at the start of tw but price thjen busted up thru fast lr

 

[MajorMagnuM]

i just cant see what is keeping it up. to me this shld be bombing donw.

 

[MajorMagnuM]

well if this is the sell, then i have missed it. gotta laugh

 

[MajorMagnuM]

any lower and im back to a night of study. again

 

[Forexmospherian]

What time of the day is it MM ??

 

[MajorMagnuM]

make of this what you will!. i just like the song

 

[MajorMagnuM]

What time of the day is it MM ??

er, no trading time of day?

 

[MajorMagnuM]

im guessing that is the correct answer

 

[Forexmospherian]

im guessing that is the correct answer

Well it was not too bad after 7 00 pm - which is unusual as mostly its all BTTZ on many pairs

See you tomorrow MM

 

[Forexmospherian]

Freaky Friday - 3rd October 2014 - Pre Opens

Good Morning Fx Intraday traders - Its NFP today

Just noticed on the calender a few countries have bank holiday's today - one of them being Germany. Now the German Deutsche Bank is one of the largest players in the FX market with estimates of between 15% and 20% of the total FX market share.

Got the feeling their traders will not being having any holiday today - were ever they might be around the World - but I am sure somebody might tell me different ;-)

Traditionally Freaky Friday with the NFP announcement was one of the busiest volume days of the month - ie moves from 150 to 200+ pips all within a few hours etc - so it would scare any novice or newbie and therefore many would not trade today.

Nowadays - its not quite the same and some NFP days it can be quite boring a few hours before hand - and then after the news the moves and the play are just not so big

How will it be today ?

Have not really got a clue for now - but will have nearer the moment - but before that we have red news on the UK Pound again this morning at 9 30 am.

For any members who do have not really followed this thread - or been told its no good or rubbish etc - just a few points

1. I am a very experienced full time FX retail ( not commercial - differen ballgame) intraday trader and I take approx 10 -20 short term traders over an approx 10 hr period - and the ones which have legs I leave on with the stops in profit and on 30% stakes until I either P or P them further.

2. I do not call every scalp I make on the thread -as quick scalps for 2-5 pips might only last 3 mins and by the time you have read the comment with the delay etc - it ill be finished. I prefer 7 to 25 pip trades that last between 10 and 30 mins and have no problem calling them in advance.

Just make sure you refresh the page browser every 30 seconds to get all the comments in the busy periods

4. All my trade entries are with mental stops ( not hard stops) of between 3 and 7 pips. That means a trade of say 11 pips - can be a RR of above 2 - so if I make a few of those a day - not bad - although most days I will catch trades with RR's of 4+

5. This thread is not for FX newbies - you ideally need 12 -18 months of basic FX trading knowledge behind you.

6. If you wanted to learn my methods - they are complex and there is a nother thread here on the forum explaining how I trade in detail. I would suggest it will take 6 to 9 months to get to a good level scalping my way if you are new to it - although to become consistent and advanced you need the 5K+ hrs studying live charts on small time frames etc and really over a few thousand live trades to get really into the grove

7. I do have losing trades - normally 1 to 3 on average days - some days none - other days up to 5 losing trade. 3 losing trades in a row can be just a loss of 9 -12 pips to me - as I dont wait to be stopped out - I pull asap.

8. Winning scalps can be anything from 2 pips to 30+ pips. If they have further legs I leave 30% stake size on bank 70% and leave the stop in profit of 1 to 5 pips.

One of these type of trades made me 1000 pips in 2012 and even several earlier on this year made me over 700 pips in total on the EA fall

9. All FX Intraday trade comments are welcome - and even forecasts - but really I dont forecast more than small parts of a session - otherwise thats guessing of fortune telling

Static analysis is just dead analysis - I trade in the now.

OK lets do some updates and reviews on some key pairs I plan to trade today starting with the EU as it is the most traded FX pair - and the one that is manipulated normally the most

Have a good day

Regards


F

 

[Forexmospherian]

EU

6 31 am UK time

From the 6 00 am time window - scalp bias changed to scalp sell from the 2657 area after it failed 58/80

I am in that scalp atm

I need to see under 50 and 46 to hold the trade on - otherwise I just take what profit I can

 

[Forexmospherian]

EU summary this morning

Yesterday the pair made 2698 after London close

Not 2700 - but just below it - an October high on this pair so far

Low is 2569 - so we have bounced so far over 130+ pips in last week or so

I will be looking at scalp buying again - maybe around 40 -45 - but as long as we stay above say 2600 and 2617 then favour a few tries up again - even though we are in a heavy down mode

I must have made over 350 pips during September scalp buying the EU even though it dropped over 400 pips in levels. Yes I did sell as well - but being intraday I can buy and sell most pairs through a day and make profit on them

 

[Forexmospherian]

EU

2652 is interim low for now

I needed under 50 and 45 to hold on - will not leave 30% on atm

 

[Forexmospherian]

GU

6 43 am

This pair although it been falling over the last few months as a different price structure set up so far this morning to the EU

Its presently a scalp buy above 6130 and after the 6 00 am TW

I would need above 47 and 55 to hold it on - otherwise pull with what you get

 

[Forexmospherian]

GU summary review this morning

Low on pair as been 6050 area in early sept with bounces up to 6521 - ie over 460+ pip rise

OK its been falling last 2 weeks and could easily drop under 6100 and test the low again - or even lower

We do have news on this pair at 9 30 am - so will be featuring it more after 9 00 am

For now its reached 6139 and as I mentioned I need over 47 and 55 to hold the scalp buy on longer - as 41 to 43 is a interim R area

 

[Forexmospherian]

EU

Back in another scalp sell at 53 and still need under 50 and 45 to hold on longer

Dont really want to scalp for 1-5 pips - but I will have too atm - as thats all the markets giving

Would need back over 2655 for now to think about scalp buying at all