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

[Forexmospherian]

OK some updates etc on some key pairs at just gone 7 05am

EU

What a day yesterday - price going up from the mid 2650 area over 200 pips into the high 2800"s

After the pullback - it stayed above 2790 and tried 2840 before another pullback from a LH and as fallen now to just above 2800 area again

As I type its still falling so I hope you have been in scalp sells at least this last 10 or 60 mins

We know supports are at 2790 and 2770

 

[rustler]

So this afternoon (Aussie time) I began to do a job I hate... Analysing my recent trades, and after some of the over trading crimes I have committed it took a while. From the last two weeks I finished slightly in the black (better than the red), but also identified some really interesting issues.

These have a lot to do with my attitude to money and some of the biggest pyschological issues in trading,

I am not an expert in fx but have done my time in equities markets, but writing this helps to find the problems and the remedies. MM, these might be similar to your issues when using real coin as opposed to a demo account. That's why I reckon trading with .1 or even.05 of a pip is better than demo trading.
I thought you might also gain from my mistakes. I've found its better to learn from others mistakes than your own.

ISSUE 1: PREMATURE TRADING
Split into
(I) in to early (pre signal in anticipation, or buying on the way down and selling on the way down before the market turns) COST ME $250 to 350
(II) out to early (seeing a little profit and getting anxious about losing it) COST ME $400+

ISSUE 2: INSTANT GRATIFICATION
(I) not trading to plan... Whether rang bound market, trending market or Fibonacci swing trading. COST ME $150
(II) trading against the trend COST ME $400
(III) not implementing stops COST ME $95

ISSUE 3: ADHD TRADING (or restless nature)
(I) over trading (cost included with other issues)
(II) random trading (get a thought on a whim and try and dictate to the market, you can't tell it where to go) COST ME $80 and down $30 on an oil trade now.

ISSUE 4: TEN THUMBS TRADING
(I) hitting the wrong button... Buy instead of sell and vice versa... COST ME $265

All up that adds to about $2000 in two weeks, it's a wonder I'm still up after paying the exorbitantly high Aussie costs for trading (over a pip per trade)...

Anyways I hope it wasn't too long and some of you find it helpful... It helped me typing it, but also made me cry (the costs of my mistakes is larger than my profits from the last two weeks...

TRADE WELL

 

[Forexmospherian]

first trade good

Hi MM

All the very best today - I hope you had some sleep lol

Never think you cannot do it

Please though don't over do it on live - keep focused and relax to your comfort level

Regards

F

 

[Forexmospherian]

So this afternoon (Aussie time) I began to do a job I hate... Analysing my recent trades, and after some of the over trading crimes I have committed it took a while. From the last two weeks I finished slightly in the black (better than the red), but also identified some really interesting issues.

These have a lot to do with my attitude to money and some of the biggest pyschological issues in trading,

I am not an expert in fx but have done my time in equities markets, but writing this helps to find the problems and the remedies. MM, these might be similar to your issues when using real coin as opposed to a demo account. That's why I reckon trading with .1 or even.05 of a pip is better than demo trading.
I thought you might also gain from my mistakes. I've found its better to learn from others mistakes than your own.

ISSUE 1: PREMATURE TRADING
Split into
(I) in to early (pre signal in anticipation, or buying on the way down and selling on the way down before the market turns) COST ME $250 to 350
(II) out to early (seeing a little profit and getting anxious about losing it) COST ME $400+

ISSUE 2: INSTANT GRATIFICATION
(I) not trading to plan... Whether rang bound market, trending market or Fibonacci swing trading. COST ME $150
(II) trading against the trend COST ME $400
(III) not implementing stops COST ME $95

ISSUE 3: ADHD TRADING (or restless nature)
(I) over trading (cost included with other issues)
(II) random trading (get a thought on a whim and try and dictate to the market, you can't tell it where to go) COST ME $80 and down $30 on an oil trade now.

ISSUE 4: TEN THUMBS TRADING
(I) hitting the wrong button... Buy instead of sell and vice versa... COST ME $265

All up that adds to about $2000 in two weeks, it's a wonder I'm still up after paying the exorbitantly high Aussie costs for trading (over a pip per trade)...

Anyways I hope it wasn't too long and some of you find it helpful... It helped me typing it, but also made me cry (the costs of my mistakes is larger than my profits from the last two weeks...

TRADE WELL

Excellent feed back rustler

I agree with so many of your comments

I hope all of us can help each other to greater success and you are very welcome here on this thread

Have a good day

Regards

F

 

[rustler]

Cheers F...

 

[Forexmospherian]

EU

Missed the scalp buy at 94/5 but exited my sell

Nice start with a good scalp over 14 pips in the kitty

Will do updates on other pairs before I pop out

 

[MajorMagnuM]

EU

Missed the scale buy at 94/5 but exited my sell

Nice start with a good scalp over 14 pips in the kitty

Will do updates on other pairs before I pop out

same for me, sl hit

 

[MajorMagnuM]

i got back in at 28009. sl be

 

[rustler]

In on uj +106.15

 

[Forexmospherian]

GU just prior to 7 25 am

5961 ATM and what a mover yesterday with a great move up to 6070 and then a really big pullback

No main red news on it this morning - been a scalp sell like the EU and fallen 9 pips as I typed this - yes of course - second scalp sell of the morning

 

[MajorMagnuM]

In on uj +106.15

that cld be an amazing entry

 

[rustler]

Got 5 pips back for the day but same problem... Early exit... F, any ideas

 

[MajorMagnuM]

GU just prior to 7 25 am

5961 ATM and what a mover yesterday with a great move up to 6070 and then a really big pullback

No main red news on it this morning - been a scalp sell like the EU and fallen 9 pips as I typed this - yes of course - second scalp sell of the morning

what sell price second time F? 64 or 59 ? (GU)

 

[Forexmospherian]

Got computer screen issues - again this morning on one computer - will reboot and then do more updates after I get back

Will include UJ and any other pairs any trader wants updates etc on

Just noticed EU under 2790 now as well

See u later

Stay focused and keep an eye on the time as well

)

 

[rustler]

MM... Doesn't help when you can't hold your trades...��

 

[MajorMagnuM]

Got 5 pips back for the day but same problem... Early exit... F, any ideas

early exits... i do this too. as time passes this will improve. asking myself, wld i take an opposite trade here helps me

 

[Forexmospherian]

what sell price second time F? 64 or 59 ? (GU)

Just switched off computers with platform to reboot sorry .
- have no screens to check LRS and PA for now

Will be around more next her hopefully with all sorted again

 

[MajorMagnuM]

MM... Doesn't help when you can't hold your trades...��

if you got entry at 0725 at 15, then that is superb, and is a major part of the puzzle going forward
write down your thoughts now on everything you see on m1 uj, and why you closed. then look at this in 3 months. i reckon you will see more 3 months on.

 

[MajorMagnuM]

Just switched off computers with platform to reboot sorry .
- have no screens to check LRS and PA for now

Will be around more next her hopefully with all sorted again

its all pretty spikey. im taking partial profits quickly because of this
sl on current remainder on eu at 98

 

[rustler]

Yeh cheers MM... I like that attitude... Just got scared to lose the profits, but now looks like a double top anyways... Thanks mate... I've taken your advise