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

[Chalky_trader]

i'm not a verbatim F trader dude........I think he watches for highs/lows to see where traes hold their levels ....it reinforces his trading in next 30 mins

sorry ..................disappearing as well ..EU and NU sells doing ok but vilaitility is to high for me still........

N

Thanks

sure is spikey at the moment

 

[Forexmospherian]

Sorry

Just to say will be back later - got to collect son from station in 15 mins or so

Also remember news at 3 00 pm as well

I hope there are some pips left after 4 or 4 30 pm lol

 

[NVP]

speaking on that subject........usd bull train north continues

 

[Forexmospherian]

4 15 pm

Back now for a bit

Noticed 4 00 pm TW a lovely scalp buy from 2500 - 2503 was the scalp buy point at 3 56 pm

OK - now we either need straight over 2524 - that would show the bounce is a large enough to stay above the low for 30 mins and also change of PA

If no 24 + them EU must stay above 2503 to try up again

Only look at scalp sells under 2496 and 2490 - in case we just have teasing

 

[Forexmospherian]

GU
scalp buy started after end of 3 30 pm TW

From 4 00 pm and 56/58 area it was confirmed more

Now at 72 bit really need over 82 to hold on

If no 82 take what you can with supports now building from 58 to 64 - to hold pulbacks up

 

[Forexmospherian]

Swissy peaked at 3 51 pm - start of 4 pm TW

Needs under 9653 and 49 to hold scalp sells on longer

 

[Forexmospherian]

Cad peaked at 4 01 pm

Need under 1240 to think abaout holding scalp sells on longer from 65 area

 

[Forexmospherian]

speaking on that subject........usd bull train north continues

Interesting N

I would have thought it was peaking from say 3 45 - 3 50 pm to 4 05 pm for now ??

 

[Chalky_trader]

HI F

Do you ever look at longer term charts?

EU is so far from its hourly averages that i wouldnt want to be selling it, doesnt seem to be any buyers around for it though!

 

[Forexmospherian]

HI F

Do you ever look at longer term charts?

EU is so far from its hourly averages that i wouldnt want to be selling it, doesnt seem to be any buyers around for it though!

I do look at weekly and monthlies at least once a week

Normally for intraday - I never use above 30 or 60 mins for the bigger picture

The dollar is in theory OB and the EU is OS - but only good S & R will hold the turns to allow changes to happen

Always around big numbers - you get barriers

I have no bias scalping - as for me any move over 3 pips - is a trend

I prefer to only trade for over 7 + pips and ideally targets of 15 -25 pip moves

For example now on EU - we can easily bounce back to 2580 or 2600 - and still be in a strong down trend

I will also explain more on 30 mins rules and levels etc - maybe over weekend

 

[Chalky_trader]

I do look at weekly and monthlies at least once a week

Normally for intraday - I never use above 30 or 60 mins for the bigger picture

The dollar is in theory OB and the EU is OS - but only good S & R will hold the turns to allow changes to happen

Always around big numbers - you get barriers

I have no bias scalping - as for me any move over 3 pips - is a trend

I prefer to only trade for over 7 + pips and ideally targets of 15 -25 pip moves

For example now on EU - we can easily bounce back to 2580 or 2600 - and still be in a strong down trend

I will also explain more on 30 mins rules and levels etc - maybe over weekend

Thanks

The 500 level sure gave enough support for a bounce, 550 a decent target if it can get out of the 00 tractor beam would be nice.

Have a good weekend

 

[Forexmospherian]

4 15pm

OK - now we either need straight over 2524 - that would show the bounce is a large enough to stay above the low for 30 mins and also change of PA

If no 24 + them EU must stay above 2503 to try up again

Only look at scalp sells under 2496 and 2490 - in case we just have teasing

EU comment from 35 mins ago

We made 23/4 - but could not try higher and from 21 and under a scalp sell

Now we have supports above 2503 - but we must stay bove there for any more attempts to try above 24 +

 

[Forexmospherian]

Approx 5 30 pm

Will have a quick check every 30 mins or so - but markets are slow now - and we need to see some levels being broken to get more clues

 

[NVP]

hey all..........ive been watching the market but tied up elsewhere since earlier action

been great flying with you all today .............hell this is what trading the NFP is all about !!

N

 

[Forexmospherian]

Have a great weekend N and similar to all the other guys here

Better get the Call of Duty out on my Xbox over the weekend and sharpen the reactions ;-))


Regards


F

 

[NVP]

hey F

since I cant (yet) agree a decent rate with cheapskate company for a consultancy gig........ i'm going to be in the trading saddle next week...........i'm also going to demo LMAX to see if it works for me .............want to chat to them first on Monday re some of the options ..........good spreads ......and as Tesco say every little helps .........looks like I have to put at least $10k their way with no (personal) track record on them but such is life ...........

N

 

[Forexmospherian]

hey F

since I cant (yet) agree a decent rate with cheapskate company for a consultancy gig........ i'm going to be in the trading saddle next week...........i'm also going to demo LMAX to see if it works for me .............want to chat to them first on Monday re some of the options ..........good spreads ......and as Tesco say every little helps .........looks like I have to put at least $10k their way with no (personal) track record on them but such is life ...........

N

Morning N

I am not sure but I dont think MM had to put $10k with them to open his live account ? but will have to check.

They are well recommended and I am sure Dow Jones would also give you more guidance about them if you go with them. MM seems to be very pleased with them and as you know some days he has been churning out over 30 scalps in only part of a session.

I am going to be around most of next week and normally starting 6 30 - 7 00 am time and then pace myself over the next 10 + hrs - but normally never spend more than a total of 4 or 5 hrs glued to the screens - preferring to cherry pick time windows and only take between 10 and 20 trades. Yes many times taken over 25 trades over a busy day - but it can then be tiring maintaining the focus so my average seems to be in the 14 -16 area - with only a few trades lasting over 10 or 15 mins. The 30% ones ( can be any % really ) with stops left in profits are a different ball game - not demanding the same level of babysitting.

You know my daily target of 50 pips ( based on scalp stake size not 30% trades) - its easy some busy days - but on slow days it can be very demanding - so maybe you set your bar at 30 pips only per day - but don't stop when you over achieve - just make sure you dont lose the 30 pips you already have in the bag.

I am sure you fully understand this - but many dont - if you do target 30 pips and say you get to 38 pips - Then use the 8 pips as your risk - allowing you say 2 or more additional trades to get more - then raise the bar again ideally giving yourself a 10 -15 pip over achieve - that then really is all you work on as your risk.

Everyday is different - but you can have an impact on how you normalize it - ie you know over say the important 12 hr window - 6 00 am to 6 00 pm - there will either just 2 or 3 busy 60 -90 min slots - make sure you are around for them - because as they say - you have to be in it too win it ( lol)

Just one 90 mins slot might give you 5 trades and over 30 pips easily.

Spend 90 mins in a dud time - and you might only get 1 or 2 scalps over 5+ pips

Thats the difference etc

Good Luck - and I am here to help you as much as I can

Regards


F

 

[NVP]

thanks for that ..........

last 2 weeks have been solid and REAL productive scalping.......quantum leaps even from my pretty ok work in recent years and then last few months where ive had more screen/trading time ................

i'm not just talking about pippage ....i'm talking really SEEING the trades .....F knows what I mean ......................sounds corny but the extra screentime hours being spent are moulding me to my system and execution...................I can see the trades coming and accept losses as I can see why..........my % loss ratio has fallen dramatically............ive stopped giving away stupid trades .....my discipline has increased dramatically....................that's the Zone I suppose .............taken a few years of trying and bouncing around the edges ......but such is life .......

my strengthmeter / relative strength ideas and approach have always resonated well for me ............its my discipline and execution that has been questionable .......... that's what is the real problem for most wannabee traders once they realise that a solid system isn't that hard to find.........

i'm gonna need all the help I can get with trialling a new platform and posting but need to settle more now if I decide to go real pro........if I cant get any decent paying local finance jobs or consultancy work then looks like my future is being chosen for me

i'll go to demo next week and reduce the posts .......as cant do it all

N

 

[NVP]

Morning N

I am sure you fully understand this - but many dont - if you do target 30 pips and say you get to 38 pips - Then use the 8 pips as your risk - allowing you say 2 or more additional trades to get more - then raise the bar again ideally giving yourself a 10 -15 pip over achieve - that then really is all you work on as your risk.

Everyday is different - but you can have an impact on how you normalize it - ie you know over say the important 12 hr window - 6 00 am to 6 00 pm - there will either just 2 or 3 busy 60 -90 min slots - make sure you are around for them - because as they say - you have to be in it too win it ( lol)

Just one 90 mins slot might give you 5 trades and over 30 pips easily.

Spend 90 mins in a dud time - and you might only get 1 or 2 scalps over 5+ pips

Thats the difference etc

Good Luck - and I am here to help you as much as I can

Regards


F

preaching to the converted F..........last 2 weeks have been intense at times....then ive had to step away and come back to see the best moves of the day long gone............all great advice for SCALPERS .....once they crack their system and the many things associated with it .............and then get to the level needed for the final push

 

[DowJones]

....i'm also going to demo LMAX to see if it works for me .............
N

...They are well recommended and I am sure Dow Jones would also give you more guidance about them if you go with them. MM seems to be very pleased with them and as you know some days he has been churning out over 30 scalps in only part of a session.

Hi, just saw this in passing. You're v welcome to PM me on this topic if you wish. For spot FX, they're v good. Just to be clear, my only affiliation is that I'm a customer of theirs.