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

[KostasSt]

made a few trades, a few losses but this covered them, a BOPB, risked 5 took 17.1 pips.

Eu has been travelling nicely both ways......

What trading platform are you using? looks interesting.

 

[Forexmospherian]

made a few trades, a few losses but this covered them, a BOPB, risked 5 took 17.1 pips.

Eu has been travelling nicely both ways......

Hi Fzy


Well thats was very nice - risking 5 pips making 17 - well done

I think now we will get some bounces - but we need then really back over 2455 and 2460 to think we will turn higher again

Have a good day


Regards



F

 

[Forexmospherian]

EU

10 02 am


Dropped from Lower High at 2485 to so far 2418 - and 2420 is clearly a support area

Under2455 and 40 - I still have now a down bias session

Its a scalp buy above 2420 and only scalp sell atm under 2415 and 2409 - but then supports at 2403/5 areas again

EU comment from approx 10 mins or so ago

Now price at 2443 - and I am down to 30% stake at 42 and will stay with above 28

 

[Mr Fox]

Morning John

You know you are always welcome to comment on this thread etc - no problem

I got caught on GU after taking a nice scalp and then dropping down to 30% after approx 7 pips thinking the bounce would still be small and keep me in under my cut off level

Unfortunately - the bounce was over 5 pips and took me out my "soft" 30% stake stop ( still with a small profit though ) and then a few mins later - continued to drop again with another LL

I also use the tick charts with scalps and glad you do as well

I know many say they are just noise and too fast etc etc - but over time - you can see the movements clearer and it all make sense. In fact after a few years of tick chart viewing - they become as slow as a 15 min chart - as you adjust to them

I did manage to jump in 2 more scalp sell under 5705 and 5693 - so been pleased with the ongoing PA

Still in on one 30% on the sell - ( out of 30% stake buys from yesterday ) and will only drop that 30% stake sell if we bounce above 5794

Have a good day - not any GU news I dont think - need to check again - but plenty on US / EU and Cad


Regards


Peter

Thank you,

This may sound rather controversial, but I very rarely check the news. Maybe it's ingrained that the 2 times to watch out for are 09.30hrs, and 13.30hrs(NFP), so I'm either in before, or in after, rarely during, and only having to worry about 1 currency is not so difficult.


Well done on the 2 scalp sells, and I feel the main trend of the day has been set as bearish. I was waiting to see if yesterdays .56944 got taken out for additional confirmation. However on 500 tick/1 minute TF, we can always expect the unexpected.

Best
John.

 

[Forexmospherian]

GU


10 15 am

Another scalp buy in this last 10 00 am TW

Not in it as was in both EU and EJ from earlier - as well as still got a 30% sell on GU which I might move stop down to 83 if the scalp buy gains momentum

 

[Fugazsy]

What trading platform are you using? looks interesting.

Hi Kosta

CMC

spread around 1 pip 0.9 to 1.3 no commission

 

[KostasSt]

Hi Kosta

CMC

spread around 1 pip 0.9 to 1.3 no commission

Thanks alot, I will definately try it out.

 

[Fugazsy]

Hi Fzy


Well thats was very nice - risking 5 pips making 17 - well done

I think now we will get some bounces - but we need then really back over 2455 and 2460 to think we will turn higher again

Have a good day


Regards



F

into range, broke above, did not go with it, bears waiting the bo


yes they did..... I am watching

back at the low of the box

 

[Forexmospherian]

Thank you,

This may sound rather controversial, but I very rarely check the news. Maybe it's ingrained that the 2 times to watch out for are 09.30hrs, and 13.30hrs(NFP), so I'm either in before, or in after, rarely during, and only having to worry about 1 currency is not so difficult.


Well done on the 2 scalp sells, and I feel the main trend of the day has been set as bearish. I was waiting to see if yesterdays .56944 got taken out for additional confirmation. However on 500 tick/1 minute TF, we can always expect the unexpected.

Best
John.

I think John with you focusing on the GU - and getting to know it extremely well - then yes really its the 9 30 am and 1 30 pm times you have to be aware of - plus the 11 45 and 12 00 and 12 30 pm on the Interest rate days etc

If I remember correctly Dow Jones was another Pound / GU scalper - althought he did the Dow and Dax etc - he only touched the GU normally on Fx

I also remember a guy on another forum - Raj Patel - who had majored on GU for approx 10 years - and he was an expert on scalping it and I used to spend many a day comparing our entries and methods etc . Sometimes I would get in 2-4 pips before him - then on other days - he would easily gain 5 pips on my scalps with better entries and exits etc

He used a different MM method - but clocked up 20K pips on the GU in one 12 months period - although there would be an element of double counting in it

For now the GU is in my top 5 list - favourite still most days EJ - then its a toss up between EU and GU and then its AU / EA and recently the UCad more

I do find the market makes sure some pairs have boring hours whilst others flourish - so Its good if you can have say 3 to 5 pairs in your locker - but only major on one or two pairs etc

I reckon you must be scalping with stakes between 50 and 120 pounds ie 8 lots to say 18 lots per pip

I nowadays rarely go over 10 lots and most of my scalps are from 4 to 8 lots per pip - as I feel more comfortable etc - and dont want the palpitations and sweaty palms with 20 lots plus from years ago - yes I am a chicken ( lol)

Still as you know you can make constantly a lot of money even on just 3 or 5 lots - never mind 10 or 20 +

One last thing - as I get taken out my 30% stake buy on EU - I had in November one Monday morning when the first trade Am was OK - and then out my next 8 trades - I had 6 losses - yes 6 losses consecutively

I have never had more than 7 losses in a row for over 5 years and normally after 3 losses have 1 hr off

So always be aware it can happen etc etc


I will post some GU charts this morning as well


Regards


Peter

 

[Forexmospherian]

10 33 am

Both the yen cross pairs I have mentioned today - UJ and EJ have remained bullish - I went with EJ on scalp buys

147 65 is a R barrier and so now from 25 to 65 we are in a range - and need over 70 to take more scalp buys

UJ - would be nice if we can scalp buy again above 118 30 area - but then we need interim top and R area at 118 90 to be breached for more scalp buys

 

[Fugazsy]

reading and acting on PA is an art form, I did not take this:

Prices breaks out above the channel, reaches the magnetic line where she broke before with a BOPB, forms a reversal wedge and a 3 push ups, the reverlas bar is strong, double of risk is reached in a jiff.....a beauty

 

[Forexmospherian]

GU


10 15 am

Another scalp buy in this last 10 00 am TW

Not in it as was in both EU and EJ from earlier - as well as still got a 30% sell on GU which I might move stop down to 83 if the scalp buy gains momentum

Exited 30% scalp sell in the end at 5561 - as it did a false drop before another scalp buy from after 10 21 am - start of 10 30 am TW

Not in scalp buy - but would like to join on pullbacks staying above 5660

We need then over 5690 to stay with buys etc

 

[Forexmospherian]

reading and acting on PA is an art form, I did not take this:

Prices breaks out above the channel, reaches the magnetic line where she broke before with a BOPB, forms a reversal wedge and a 3 push ups, the reverlas bar is strong, double of risk is reached in a jiff.....a beauty

You are spot on Fugazsy - it takes a long time to get to a great reading level - but the more you try and do it - the better you then become at it

You will never maintain 95 -100% success - but anything over 65% is good and over 75% excellent

 

[Forexmospherian]

GU - 1 Min LR Chart so far today

GU Chart - with levels etc

 

[Fugazsy]

You are spot on Fugazsy - it takes a long time to get to a great reading level - but the more you try and do it - the better you then become at it

You will never maintain 95 -100% success - but anything over 65% is good and over 75% excellent

Yes.

to be honest only lately I am giving a bit of time to the 1m TF, I did try them all but very quickly discarded them to move on something else, not long time ago I realised that I need to specialise in one way only, I am working very hard atm, looking and studying chart, I am finished gaining from books, now I need to became the best in what I do, it will take a bit of time, but I am sure I will get there.

Also you are helping in many ways, and mostly in the sense that it is doable, not easy but doable and that what is important to me...

Fz

 

[Forexmospherian]

EU


11 00 AM approx

The key question is we have a high and then a LH - so in theory - any rises will stay under say 2475 or 2465 area

Now if we go over 2480 and 85 - then another change in session price structure

I will be looking to scalp sell under 2475 - but only if it all lines up in aTW - for now above 36 and 40 still a scalp buy atm

 

[Forexmospherian]

GU

11 04 am

Difficult - above 5660 and 65 scalp buy - under 5648 and 43 - scalp sell

The price we are atm - is a real BTTZ set up

 

[Forexmospherian]

EU

11 10

at 11 09 am end of TW we reached 2459 - I have exited another buy scalp at 70% and will leave 30% on only above 47 now

 

[Fugazsy]

EU


11 00 AM approx

The key question is we have a high and then a LH - so in theory - any rises will stay under say 2475 or 2465 area

Now if we go over 2480 and 85 - then another change in session price structure

I will be looking to scalp sell under 2475 - but only if it all lines up in aTW - for now above 36 and 40 still a scalp buy atm

just above the RN, a continuation wedge is forming atm

 

[Forexmospherian]

just above the RN, a continuation wedge is forming atm

I think the market is stalling to see whats needed next

The big boys want indecision still - that suits them - then they can go against who ever wins out of bulls and bears between say 2425 and 2475 area on EU

Back in 10 mins or so