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

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I always wondered that if you asked a noob to scalp the forex market but showed him a chart that showed him the opposite direction of the move.
Will he take profit quickly and hold onto loser longer... meaning obviously in reality cut loss short and hang onto winners? Also coupled with falling for every PA trick... surely he will win :LOL:
 
GU

2 37pm

For me its now in a BTTZ area

we need back over 5976 and 80

Or we need a breach under 53 and 50 - but with more supports then at 42-46 area

In between not scalping GU
 
sunwest3d said:
I always wondered that if you asked a noob to scalp the forex market but showed him a chart that showed him the opposite direction of the move.
Will he take profit quickly and hold onto loser longer... meaning obviously in reality cut loss short and hang onto winners? Also coupled with falling for every PA trick... surely he will win :LOL:
Click to expand...

Some reasoning behind that

A complete newbie can have success for a few weeks or months

But then a little knowledge confuses them and it starts to go wrong

More knowledge - more problems

Even more knowledge - frustrations come in with no stops and leaving until it come backs

Then maybe if they ignore all traditional methods - because the Markets know them all - and stay with PA and the correct aids - structure - time and levels - then it all makes sense

Add in the fact you are being set up to fail - then you can start to find away out the maze and see the clear way to profits ;-)
 
with 5 mins to news - EU could not make over 91 and fell again and is now under 80 and testing 2475

Not in - as news could effect it - either way
 
3 02 pm

Bit of dollar weakness and 15 pip up moves on GU and EU that is now reversing

Looks boring atm - but I am sure in next hour things might change again

Not after any more scalps atm - so will pop back after 4 30 or 5 30pm

All the best


Regards


F
 
Forexmospherian said:
Some reasoning behind that

A complete newbie can have success for a few weeks or months

But then a little knowledge confuses them and it starts to go wrong

More knowledge - more problems

Even more knowledge - frustrations come in with no stops and leaving until it come backs

Then maybe if they ignore all traditional methods - because the Markets know them all - and stay with PA and the correct aids - structure - time and levels - then it all makes sense

Add in the fact you are being set up to fail - then you can start to find away out the maze and see the clear way to profits ;-)
Click to expand...

wise words F...........its amazing how we humans manage to overcomplicate everything eventually................and then factor in the subjective nature of most decisions corresponding to our own needs and bingo ........you have the human race's built in capacity to screw most things up over time :LOL:

N


r
 
had to step out last few hours plus write some waffling business case drivel for a consultancy role .............spare me this oh lord !!!

ha ha ..........I see the usd jst keep reaching north eh ?..........a couple of deep deep retraces in last few hours (including one at the moment)..........but overall i'm not sure its ready to hang up its bull hat yet

later ....more bloody CV's to send out to 12 year old recruitment consultants before their bedtime

N
 
I notice that trixx is getting a audience ..........hes not forex though ..........no idea if the guy can trade or not .........will take a look if I get time ............if he is what he says on the tin then I see more and more decent traders appearing at T2wins door ............

that's good news for the forums !

N
 
ne careful gang ........usd choppy at moment .........is it going to sail north again now ?
 
NVP said:
had to step out last few hours plus write some waffling business case drivel for a consultancy role .............spare me this oh lord !!!

ha ha ..........I see the usd jst keep reaching north eh ?..........a couple of deep deep retraces in last few hours (including one at the moment)..........but overall i'm not sure its ready to hang up its bull hat yet

later ....more bloody CV's to send out to 12 year old recruitment consultants before their bedtime

N
Click to expand...

Oh lord I do not envy you, but hey you might enjoy that sort of things. Hopefully soon enough you can trade full time like F. and make a killing :) and say goodbye having to talk to those recruitment consultants...
 
NVP said:
ucad is the buy ...........but hey i'm outta here

N
Click to expand...

Hi N

Just popped back in now at 5 10 pm

4 00 pm - correct UCad the buy - went up approx 20 + pips

But 4 30 pm was the sell - its dropped 30 pips to now

So 50 pips off 2 scalps there in just over an hr

I think any decent scalper would get over 30 pips off maybe 2 or 3 scalps

I got............ nought - lol

Was not around to trade - ;-((

Will update on some other comments in a bit


Regards


F
 
sunwest3d said:
Oh lord I do not envy you, but hey you might enjoy that sort of things. Hopefully soon enough you can trade full time like F. and make a killing :) and say goodbye having to talk to those recruitment consultants...
Click to expand...

Hi SW

Its good to have another income until you are 90% confident its all working

It might take 3 months to know or even 9 months - but once you feel everyday you can find some green pips - consistently - whether just 25 or 40 or even 50 + then after a few months I think you know you are there

With MM - I said he need to take 1000 live trades on this method

That would normally take say 12 - 15 weeks - so say 3 months ( but if still at work - could take 6 -8 months to achieve )

I think MM wants to get them in within 3 weeks lol but needs to make sure he walks before he runs

With me - by my second year full time - I felt I would never have a losing week - Ok would do if I only traded one day in week and it was a really bad day ( lol)

Nowadays - I try never to have a losing session - ie counting 2 sessions a day - ie Europe for me say 6 30 am to 1 30 pm and then US session for about 4 hrs max

Monday before last set me back a few hrs - ie 6 losing trades in day - 4 before US session - but by end of day - I was over target

Normal traders and commercials think its impossible

Trouble is - it shows they have never really tried to learn the skill of being a "pickpocket" or vulture in the FX market

Hope you are doing OK and never worry if you have a few bad days - you always will for a start - but over time - you will see the way around them

Regards


F
 
Last edited:
NVP said:
I notice that trixx is getting a audience ..........hes not forex though ..........no idea if the guy can trade or not .........will take a look if I get time ............if he is what he says on the tin then I see more and more decent traders appearing at T2wins door ............

that's good news for the forums !

N
Click to expand...

I agree - I think the forum needs more intraday callers - in FX or on any product

I do think Trixx knows what he is doing

Ok his MM and way is different to my methods - ie 60 pip average buffer - but totally agree with the price structure being as important as the PA analysis

Dont like his scaling in method etc etc - nor that fact that his RR's take to long to achieve - but thats just me - he probably would not want to take 15 -25 trades a day neither.

For me having flexibility of a method that means you can take 25 trades+ a day - mean if you want and you are over target after 4 trades - all winners etc you can stop

But if you are not in tune - like MM some mornings - 3 bad scalps can easily be fixed in another hour or so with either 2 average wins - or just one good trade

Today I got over 50 pips off one trade - ( went to 30% ) but believe it or not - it was a buy on GU from lows

That's been after it dropped 150 pips from early morning - and got over 30 pips on scalps on way down ( like 90 pips on 30% )

Trading is so funny - we can both make money doing the opposite - there is that many ways to find an edge

But for me - my method needs to be low risk ( yes even scalping) and also I wanted a way to make RR over 2 or 3 within 30 mins - not 4 hrs or all day

You being an accountant know the importance of an efficient money earning methods - find me one better than what I have got atm - and i think it could only be just robbing a bank. - dont think I have got that skill - but there again - give me 3 or 5 years and then they can make a new Ocean 14 film based on me - lol

Regards


F
 
Forexmospherian said:
Hi SW

Its good to have another income until you are 90% confident its all working

It might take 3 months to know or even 9 months - but once you feel everyday you can find some green pips - consistently - whether just 25 or 40 or even 50 + then after a few months I think you know you are there

With MM - I said he need to take 1000 live trades on this method

That would normally take say 12 - 15 weeks - so say 3 months ( but if still at work - could take 6 -8 months to achieve )

I think MM wants to get them in within 3 weeks lol but needs to make sure he walks before he runs

With me - by my second year full time - I felt I would never have a losing week - Ok would do if I only traded one day in week and it was a really bad day ( lol)

Nowadays - I try never to have a losing session - ie counting 2 sessions a day - ie Europe for me say 6 30 am to 1 30 pm and then US session for about 4 hrs max

Monday before last set me back a few hrs - ie 6 losing trades in day - 4 before US session - but by end of day - I was over target

Normal traders and commercials think its impossible

Trouble is - it shows they have never really tried to learn the skill of being a "pickpocket" or vulture in the FX market

Hope you are doing OK and never worry if you have a few bad days - you always will for a start - but over time - you will see the way around them

Regards


F
Click to expand...

Yes I am giving myself 3 months to be ready to go live on small account and another 3-6 months after that to build confidence on a normal account. I appreciate your support, it is somehow remarkable that you are willing to share your time/knowledge and insight to those that are willing. :)
 
sunwest3d said:
Yes I am giving myself 3 months to be ready to go live on small account and another 3-6 months after that to build confidence on a normal account. I appreciate your support, it is somehow remarkable that you are willing to share your time/knowledge and insight to those that are willing. :)
Click to expand...

Hi SW

I wish you well and you are being sensible - walk before you run- and always step by step

I put myself back by compounding too quickly and hitting a "financial wall" I have never read about on my journey.

It took me 6 months to get back to a decent level again - as my confidence was heavily dented and I thought my strategy was flawed. In fact it was all down to psychology - thinking I would never have more than 5 bad trades in a row and then I was on slightly larger stops and also not in my comfort zone - so when I had 7 bad trades consecutively with large cash losses - I flipped and nearly gave up.

I had also had help on my journey - and the free help was always welcome - knowing someone else could make a similar multi intraday strategy work- and that overtime - you do get better- making it easier.

I might not be around blogging on this thread next year - but its all there on this thread and the other Intraday one in trading methods to make it work

Practice - practice - practice - try and get to read every pip and realise though you can never be 100% correct - but you don't have too if you are clever with your money management

Also away on holiday later on this month - so over next few days - any questions etc just fire away

Regards


F
 
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