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

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Today for me might be a different trading day

I will do normal reviews on the main 4 -6 FX pairs I normally Intraday trade - but I also plan to assist NVP when he is around on one or two pairs of his choice - with regards to scalping and important intraday levels

I believe strongly that you need to stay fluid in the FX markets - everyday as its own quirks - ie the flavour of the session pairs yesterday might not be the ones this session

My normal favorite for short term intraday trades - ie taking 4 -7 trades in a day on just one pair is the EJ

But some times and sessions - the EJ is just a waste of time and maybe the Cad or the GU needs trading

Also it depends on a pairs actual levels compared to the weekly or monthly big picture and also what important news is going on that day etc

Spread costs are also key - ie the main ones I always trade range from 0 3 pip to 1 pip maximum - useful for only 5 -7 pips wins

OK - reviews first
 
EU

Price now at 2702

We have been up to 2715 early on from 2670 yesterday afternoon

Yesterday we teased near 2800 - ( 2792 ) - but then price fell over 100 pips

2800 is approx 300 pips higher than last week and tests on a new low at 2500

For me we need to see price stay above 2690 for further session rises and then of course breach above 2725 - 45 and 60

Under 2690 - supports at 80 - 70 and 2650 areas
 
Morning guys

I think I have taken part in either 4 or 5 FX competitions during the last 10 yrs or so - with a live one last in 2010/11

My method is very suitable for high returns needed to win a comp - but of course - money management goes out the window - with you using anything from 15 to 25% stake sizes and knowing just 3 or 4 bad trades could blow you out

I have achieved over 500% return on a $500 account in a week - know of a few other traders who can do the magic 5000% increase + in under 100 trades in 7 days

But - no - cannot be ar*ed to spend 4 -8 weeks playing with a demo breaking many of my normal trading rules - counter productive - sorry
 
After 7 00 am - we have new pullbacks on both EU and GU - with the EU being manipulated below 2700 - just to throw out any traders wanting to leave swing trades on the EU with trailing stops or stops in profit

Remember - the market know everything we all do - and want your money ;-))
 
Forexmospherian said:
Morning guys

I think I have taken part in either 4 or 5 FX competitions during the last 10 yrs or so - with a live one last in 2010/11

My method is very suitable for high returns needed to win a comp - but of course - money management goes out the window - with you using anything from 15 to 25% stake sizes and knowing just 3 or 4 bad trades could blow you out

I have achieved over 500% return on a $500 account in a week - know of a few other traders who can do the magic 5000% increase + in under 100 trades in 7 days

But - no - cannot be ar*ed to spend 4 -8 weeks playing with a demo breaking many of my normal trading rules - counter productive - sorry
Click to expand...




I can understand your reasons there F, i just see it as a bit of fun to relieve the boredom of the quiet times.

Would be an excellent way for you to prove your skillset though.

It will be interesting how the rest of us get on. as you say money management rules go out of the window in these things and the risk of blowing up an account higher than normal.
 
AU

Low this morning at 8746 - lower than yesterday

so far we bounced back up to 8786 - buy really need over 95 and 8800 to see a turn going on for more rises

8755 -65 is a good support area - and we need good break under there to take or hold on scalp sells
 
Chalky_trader said:
I can understand your reasons there F, i just see it as a bit of fun to relieve the boredom of the quiet times.

Would be an excellent way for you to prove your skillset though.

It will be interesting how the rest of us get on. as you say money management rules go out of the window in these things and the risk of blowing up an account higher than normal.
Click to expand...


I am willing to help or give some guidance to any trader participating

The eventual winners - or top 5 - either blow out in first few days or week - or have luck and get a run of 20+ good trades with only a few losses.

It can be the luck of draw as well

For example

I will / maybe take over 15 trades today

If my next 3 are all wrong - it will not really effect my days results

But if put say 35%+ stake size on and had 3 bad first scalps - I could be gone in 1 hr out the comp - lol

If you can get to say 50 + trades with only say 3-7 losses - and you have been maxing stake sizes and compounding n your demo - then you will be up there in the top 10 etc

Key is multi trading - high RR's and of course very low losses - loads of stops in profit help as well ;-))

Good Luck if you are entering
 
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Fairly quiet atm

With EU - we need price now to stay over 2688 /90 to look at more scalp buys again

Under 85 and 80 - hold any scalp sells you have taken
 
AU and EA

EA is session bullish bit needs to stay above 4440 area really to be able to look at more buys

If EA remains bullish then expect pullbacks and more falls on the AU - as normally they are oppositely correlated

So if EA drops under 4440 and lower - then in that case AU should then be trying over 8800 + again
 
7 30 am is a scalp sell on the EJ - but we need under 80 and 75 to hold it on - as still in range
 
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GU

7 30 saw big drop on GU now joining the EU in teasing lower

we need to stay above 6100 and 6107 to look at scalp buying again

Under both those levels hold any scalp sells as the fall could then last longer
 
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