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

[Forexmospherian]

OK - pulled 30% stake sell on GU

Not scalp bought yet - may have missed 5 -10 pips here

 

[Forexmospherian]

F

Thanks for you post.

Well, I am still positive and that and I am getting use to it, closing in black every day, little but positive....

I have a question for you if you do not mind: lets say you are short with a Sl of 5 pips and a tp of 10 pips, now you are with +5 pips and another set up occurs, would you take the second set up with the same SL and TP?

Reason asking is that the market is often moving fast in one direction where it can move 30-50 pips and taking various entries works very well indeed , gaining 30-50 pips in a jiiff.

Well Done - that's positive##

Difficult question - as no firm black or white - yes or no answer - it would depend on many factors - ie how many pips I have in the kitty already and if I though the market was going into a BTTZ area stage

I still find it difficult to scalp 3 pairs at same time - 1 or 2 together no problem and if I am on 30% stakes with stops already in profit - dont mind trading then even 4 or 6 pairs

I think its all step by step - how many balls can you juggle comfortably - if its say 5 now - you might end up juggling 10 or 15 - but it takes time etc etc

I have just missed out more on GU fall again - but its no problem as I have a nice profit already of it. If I had taken a scalp buy I would have been wrong and then frustrated - but thats why if you can have levels to work with and on - and you can then cover more pairs etc etc

Dont forget though - you do need also 3- 4 screens as well etc

Regards

 

[Forexmospherian]

Some of my stops - ( mental soft stops not hard set in stone ) are only 2-4 pips - not all set in stone at 5 pips - and on big spread pairs like GJ I might even use 6 or 7 pips

 

[MajorMagnuM]

took 70 off nu add on and new au short. all sl at be or better

 

[Fugazsy]

Well Done - that's positive##

Difficult question - as no firm black or white - yes or no answer - it would depend on many factors - ie how many pips I have in the kitty already and if I though the market was going into a BTTZ area stage

I still find it difficult to scalp 3 pairs at same time - 1 or 2 together no problem and if I am on 30% stakes with stops already in profit - dont mind trading then even 4 or 6 pairs

I think its all step by step - how many balls can you juggle comfortably - if its say 5 now - you might end up juggling 10 or 15 - but it takes time etc etc

I have just missed out more on GU fall again - but its no problem as I have a nice profit already of it. If I had taken a scalp buy I would have been wrong and then frustrated - but thats why if you can have levels to work with and on - and you can then cover more pairs etc etc

Dont forget though - you do need also 3- 4 screens as well etc

Regards

Yes , make sense.

Sorry about your miss, when I trade I have to shut all contacts.

I will prepare a chart and I show you what I mean, the idea is only valid in a falling market (for shorts)

 

[Forexmospherian]

EU

10 57 am

Low of 2415 held over 30 mins - but could by after 10 09 am be now breached as then over an hour

Need back over 25 and 30 to be scalp buying again

 

[Forexmospherian]

took 70 off nu add on and new au short. all sl at be or better

You have some nice pips in that list MM

Very well done

 

[Forexmospherian]

11 07 am

Looks like GU is trying to bounce up and turn again from low at 5660 - I need above 68 and 75 to be with scalp buys and pullbacks staying above 63 then - as would try and take a pullback

Under 59 and 56 - be in scalp sell again

 

[Forexmospherian]

EJ

11 09 am

It should in theory now drop under 41 and test 20 -25 area

Above 43 and 46 scalp buys and hold scalp sells on under 22 and 17

 

[Fugazsy]

Yes , make sense.

Sorry about your miss, when I trade I have to shut all contacts.

I will prepare a chart and I show you what I mean, the idea is only valid in a falling market (for shorts)

Trade 2 could be entered before trade 1 reaches TP of 10 pips, trade 3 is a loss..the direction was righ but sl is too tight.

so if all 4 trades were taken, would end up with +35 pips in a short span,
5 pips=1%, 35=7%.

 

[Forexmospherian]

Trade 2 could be entered before trade 1 reaches TP of 10 pips, trade 3 is a loss..the direction was righ but sl is too tight.

so if all 4 trades were taken, would end up with +35 pips in a short span,
5 pips=1%, 35=7%.

Agree - and if you did take all 4 trades - you have the option to bank and reenter at every stage - or leave say 30% on after trade 1 and 2 etc

By having multi options - then you can at least safe guard you total pips etc - ie in a 35 pip move - you do dont mind losing the odd 5 pips etc - but in say only a 10 pips move - you cannot be wrong twice if you stayed with 5 pip hard stops etc

Yes if you feel comfortable trying that method - go for it - its was a nice LH's and LL's and all levels breaching in 30 mins etc etc on way down of main drop area

GL on next set ups

Regards


F

 

[Forexmospherian]

Both GU and EU have been scalp buys after 11 09 am with nice bounces up

Ej still a scalp sell under c41

 

[Forexmospherian]

11 24 am

EU I reckon could be now trying to turn up and take the EJ with it

Too early to say - but looks as though some buying going on euro atm

GU - did not make 74 or 75 and higher - and now its dropped and back in a scalp sell testing supports again

 

[Fugazsy]

Agree - and if you did take all 4 trades - you have the option to bank and reenter at every stage - or leave say 30% on after trade 1 and 2 etc

By having multi options - then you can at least safe guard you total pips etc - ie in a 35 pip move - you do dont mind losing the odd 5 pips etc - but in say only a 10 pips move - you cannot be wrong twice if you stayed with 5 pip hard stops etc

Yes if you feel comfortable trying that method - go for it - its was a nice LH's and LL's and all levels breaching in 30 mins etc etc on way down of main drop area

GL on next set ups

Regards


F

ForexSaint

Thanks

 

[Forexmospherian]

Been watching this seige in Sydney Martin Place this morning on sky news Fugazsy

Seems to be the big news of the day so far

 

[Fugazsy]

Been watching this seige in Sydney Martin Place this morning on sky news Fugazsy

Seems to be the big news of the day so far

First time I heard, need to use television more....

 

[Forexmospherian]

EJ

Now up past 41 and 46

EU - from 2415 to 2430 -40 is now all BTTZ area

We need under 2412 and 2405 to hold scalp sells on - and really above 35 / 40 and 2450 for the EU to be turning and trying LH's again

Reckon might have 30 -50 mins off next - as slow for now and early morning been good to me

GL and stay focused

 

[Forexmospherian]

1 32 pm

Back now and seeing EU spike up - with no red news ??

 

[Forexmospherian]

EJ

1 34 pm

It managed a 50 pip rise after 11 30 am and now in a scalp sell under 85 but with supports at 55/60

Would need 50 to let go to test lower supports at 35 /40

 

[Forexmospherian]

GU

Still not made above 5675 and under 68 was a further scalp sell with a Low so far today at 45

Bounces staying under 62 I think can be scalp sold again - but only hold if we make under 43 and 38