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

[MajorMagnuM]

eu fast action inside a 14pip range

 

[sunwest3d]

Good question

Really its down to how you look upon trading I suppose

I would only scalp for say 3- 7 pips - if the day / session is really boring and I had not got many pips in the kitty

But any trade for me - in any direction worth 7 -25 + pips - is my bread and butter - it might be only worth $250 - but can on a good scalp be worth over a $1000+

So if I think EU will make over 2460 and test 80 and even 2490 - 2500 - I want those pips rather than thinking OK - I am up 120 pips or so for day - so have rest of day off etc etc

If I lose on any scalp buys - I will try and keep the loss under $150 and if I get 3 losses on 3 scalp buys in next 2 hrs - then - I have an hour of two off and think - what was I doing

But if I make another thousand or more over next 5 -7 hrs - i will be delighted

Excellent insight on Money Management , yes that is my goal to reach 30-50 pips a day by end of next year.
It seems that you trade 4-8 lots ? meaning that you make about 40 pounds per pip or 2K pound a day or 380K pound a year... I bet I am way off because some trade are super jackpot. I would be happy with that for sure :cheesy:

 

[Forexmospherian]

Nicely played MM. Ain't Life beautiful when everything is in synch... 2 squirrels just crossed my garden at the speed of light, perhaps it was Nico and Lewis racing

Really looking forward to it this weekend

Should be good - I hope neither have car trouble and its a proper race

But if worse come to worst and Nico was winning and Lewis had no chance of being second - then he would need to put some nails down in his garage - or nudge him off etc etc etc

 

[MajorMagnuM]

that was a bugger but i got it

 

[MajorMagnuM]

check that moment on t8 and t21 SW

 

[sunwest3d]

check that moment on t8 and t21 SW

Yes I seen it was incredible, like a short vacuum, nice one!

 

[MajorMagnuM]

WHAT u mean short vacuum? hand held?

 

[Forexmospherian]

Excellent insight on Money Management , yes that is my goal to reach 30-50 pips a day by end of next year.
It seems that you trade 4-8 lots ? meaning that you make about 40 pounds per pip or 2K pound a day or 380K pound a year... I bet I am way off because some trade are super jackpot. I would be happy with that for sure :cheesy:

I peaked and chickened out about 4- 5 yrs ago on up to 25 lots a pip

It freaked me when I had a bad run of losses - took me 6 months to get back to a comfortable level which is now 12 Lots max

I normally scalp 3 - 8 lots and try and hold 1- 3 lots on 30% trades

If I have had a really good month - I will push myself on 10 -12 lots on AAA+++ set ups - but If I am not comfortable etc - or have a small loss - back down to comfort level - ie under 6 lots

We are all different etc - and I was not helped by GFT taking over 30 secs to a minute to get lots sizes of over 15 on

Nowadays - its different - but at my age - no longer wanting sweaty hands and palpatations - I get that from wifes's driving lol

 

[MajorMagnuM]

m1 not as bullish now

 

[MajorMagnuM]

jesus im noticing i have to be very quick thinking to trade t8

 

[sunwest3d]

WHAT u mean short vacuum? hand held?

There was a short vacuum resistance/support gap at 2450-2445

 

[sunwest3d]

jesus im noticing i have to be very quick thinking to trade t8

yes t8 is very fast, you need a coffee 3.2 ounces V8 redbull injection

 

[MajorMagnuM]

There was a short vacuum resistance/support gap at 2450-2445

sorry can you open my eyes and show me what you saw?

 

[MajorMagnuM]

rem doing 20 pips plus now

 

[Fugazsy]

Sorry to hear that Fugazsy

Need to go though the levels on a scalp on GU to show you how to stay in trades etc

Will post a GU 1 min chart and explain next - or in a bit

Meanwhile - might be boring for a bit now - but - you never know - still might be some more good scalps over next hr or so

yes please looking forward to it.

 

[MajorMagnuM]

well my hitrate is now 92% again

 

[MajorMagnuM]

what a difference active thinking about what data expression/ approp tick makes

 

[MajorMagnuM]

to add to this, its a disgrace i did not twig earlier, but its very easy to fix set ideas in a discretionary system when there is so much to take on board. fixing anything one can to a certainty makes the rest more manageable, but is clearly an error

 

[MajorMagnuM]

what im finding interesting here is watching longer structure on faster tick charts change and perhaps give clues to fathom m1 or t21/34

 

[Forexmospherian]

what im finding interesting here is watching longer structure on faster tick charts change and perhaps give clues to fathom m1 or t21/34

Well Done

MM

Glad you are back on track and in the zone

Keep it up

F