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

[Forexmospherian]

I had noticed the early EU news at 7 00 am as been a reason for the busy early period

We do have quite a bit of non red news next few hours on the EU and GU but no more red news until lunchtime

 

[Forexmospherian]

Good to see the German economy has narrowly missed the definition of a economy recession

Thats positive for the Eurozone - at least

 

[Fugazsy]

Morning Fugazsy

Yes GU as been busy last 2 hrs or so already

Have a good day

Regards

Good morning Forexm

Yes...has moved already but I was watering the plants.... 35 here today and I only start from Franky opening .......

Yes, have a good day too.

 

[Forexmospherian]

7 30 am

EJ

looks as though like the GU could be having a rest on its trip north

Been a scalp buy for 2 and half hrs - but missed most of the 40+ pip rise

144 75 -80 looks a R area

Yen is weak - but no more scalp buys just for now

Would be nice if we could take some from 55 /60 if we dont breach 82 now

 

[Forexmospherian]

Noticed the EJ as had a month of rises - with a total of over 1100 pips - if you had left a buy on from lows on October 15 th.

I am sure I did have buys on in that period - but never left one on longer enough - shame - thats my weakness

 

[Forexmospherian]

Also the EJ high now is the highest for last 10 months

 

[Forexmospherian]

EU

7 42 am

I think we need to see the EU stay above 36 /37 area now on pullbacks - if we are going to try and break through the 2450 barrier

 

[Tera]

Hi Tera

Very good question

As long as I can get stops in profits from a scalp - then yes I would always look at the longer term trading - ie using a daily chart like a tick or one min chart.

Trouble is - I have no problem placing stakes of say 6 to 10 lots with stops under 5 or 7 pips and seeing positive results in say 5 -30 mins

But I could not just place the same size orders with say 70 -100 pip stops needed really to work with a daily / weekly long term chart.

Even if I mak say 500 pips off a daily chart in a week or more - with a stop of 70 -100 pips - still only a RR of say 6 -8 - which is good and OK - but at the moment - I can get the same results some days in 2 or 4 hrs - rather than having the wait and anxiety etc of waiting say 5 -10 trading days

Longer term trading is OK if you only want to spend a few hrs a week or day - but for me - its never been so successful - I rarely maintain 60% win ratio trying to speculate longer term - I am not a good fortune teller - even with large stops.

If I only wanted to say trade less than 10 hrs a week - I would combine 2 part time days with scalps and then add the longer term trades - only if I am already working with a stop in profit - then I could relax and even place larger size stakes on again

Hope this explains how I look at it

Regards


F

To be fair you don't need that wide a stop. I have read your story somewhere about your time trying to trade the higher time frame. Perhaps with your experience now you could revisit it. I am not full time yet but have a good 7 years under my belt and doing okay on 20 to 25 pip stops on the daily.

 

[Tera]

Also in regards to waiting days, this doesn't need to be the case. I have a strategy that trades off the daily almost daily with targets hit daily most of the time

 

[Forexmospherian]

7 48 am

Noticing the EJ and GU have had their rests without needing more than just a few pips pullbacks so far

This would show a lot more strength for now - but will only be confirmed if GU make over 5684 and 90 and EJ above 83 and 90 as well

 

[Fugazsy]

first trade, risked 6, made 8 (10=1%)

 

[Forexmospherian]

To be fair you don't need that wide a stop. I have read your story somewhere about your time trying to trade the higher time frame. Perhaps with your experience now you could revisit it. I am not full time yet but have a good 7 years under my belt and doing okay on 20 to 25 pip stops on the daily.

Thats encouraging to here if you are able to get away with 20 -25 pip stops

I probably need to look at it more because if you can work off say under 25 pip stops for say 150 -350 moves - then need to work more looking for these opportunities

I have had the occasional big moves of over 300 and even a 1000 pips of a 5 pip scalp - but maybe its only worked on say maybe less than 10% of all I have tried

I do agree if you can make it work - trading would be easier and less time consuming etc - and still be very profitable

I really need to look at it more - and if you are presently achieving it - well done - please share the odd trade forecast - and I will join in with how I read it on the intraday basis etc etc

All the best and Good Trading to you


Regards


F

 

[NVP]

hey gang ..........

usd has been a strong bull over last 10-12 hours or so.........it hit the weeks high around 5-6am and is retracing south.............not sure as yet how long we will get the sells

good hunting today all
N

 

[Fugazsy]

my spread on GU is 1.8....not very good

 

[Fugazsy]

hey gang ..........

usd has been a strong bull over last 10-12 hours or so.........it hit the weeks high around 5am and is retracing south.............not sure as yet how long we will get the sells

good hunting today all
N

N

Good morning

Fz

 

[Forexmospherian]

first trade, risked 6, made 8 (10=1%)

Well Done - positive

Now if you can find just say 2 or even 5 like this a day - you will be doing well

Some days - to get 10+ pip moves is easy - might be 50 over the session available - other days - loads of say 3-7 pip moves - but not many over 10 or 15 pips in one clear move

Keep it up

 

[Forexmospherian]

8 04 am

Both EJ and GU have been teasing - caught me out - I took another scalp buy on them - and had to pull as I could see they had just teased to new morning highs to catch out more bulls

Missed then the scalp sells - but do think we can scalp buy again lower

 

[NVP]

50% retrace already on that attempted usd sell phase..........let it settle and find its way ............................personally I feel we will see more usd sells now for a while ...........................

but predictions are for football pundits and fortune tellers !

stick with the facts !

N

 

[NVP]

N

Good morning

Fz

g'day F .........

 

[NVP]

eu buys at 2450 is worth a punt..............Euro is a strong buy and the usd may have turned south again now