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

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itspossible said:
F i was having a look through some forums re the swissy debacle.I take it some brokers will not allow you to have a negative balance and will reset it to zero(i assume they take the loss)This must be in the contract small print.A number of people were saying that you should not have too much in your trading account just in case there is a black swan event.I should imagine there could be a situation where you have say about 30k in your account.You open a small position and have a stop(say risking 2% of your account.The wheel comes off re a massive gap through your stop and whoops your 30k is gone(instead of 2%)
Click to expand...

It can happen agree

Also I can get run over today or win the Euro lottery on Friday.

In the 13 yrs I have been trading I have seen quite a few Black swan events - in fact small gains from 2 - but have never suffered big time.

Ideally you should never enter a new trade exactly on the hour or half hr frame change or be in any trades at that time - if you are worried about balck swan mega moves - as they will always happen at either precise time.

I have over £30 k in 2 broker accounts atm - I am safe in both with UK guarantee schemes - I dont have guaranteed stops and yes in theory I could have been stung on say a 3 or 4 lot trade on the Swissy for over £150k - even if I had a normal stop in position.

Does it worry me ?

Yes - my luck might not carry on another 5 or 10 yrs plus - but i was burnt badly in 2008/9 with Lehman Bros but that was another scenario all together

I am more of a scalper and most of my trades are under 20 mins - so that helps ie not in positions on big lots for days and months etc - only 30% stakes on any of those ones

New regs and new deals need to come about from what's happened etc - so that for example no trader can be exposed to say more than twice their capital risk or even better can never lose more than in their account

Regards


F

is there an answer
 
EU

11 42am

Dropped from 1614/5 area and now under 1600 and under supports at 1580

Cannot look at scalp buys for now - need to see if 1570 and 60 holds - otherwise price structure now in a bearish session
 
gftrader32 said:
Which brokers?
Click to expand...
StormeNet 14 Hours ago
I checked my live account today and the balance was 0, so FxPro kept their word. Still a sad thing that I've lost all my profits at lightning speeds but that's the risk I guess in forex.
Hi mate-im not sure if thats gospel as its from the internetzz;)
 
Forexmospherian said:
It can happen agree

Also I can get run over today or win the Euro lottery on Friday.

In the 13 yrs I have been trading I have seen quite a few Black swan events - in fact small gains from 2 - but have never suffered big time.

Ideally you should never enter a new trade exactly on the hour or half hr frame change or be in any trades at that time - if you are worried about balck swan mega moves - as they will always happen at either precise time.

I have over £30 k in 2 broker accounts atm - I am safe in both with UK guarantee schemes - I dont have guaranteed stops and yes in theory I could have been stung on say a 3 or 4 lot trade on the Swissy for over £150k - even if I had a normal stop in position.

Does it worry me ?

Yes - my luck might not carry on another 5 or 10 yrs plus - but i was burnt badly in 2008/9 with Lehman Bros but that was another scenario all together

I am more of a scalper and most of my trades are under 20 mins - so that helps ie not in positions on big lots for days and months etc - only 30% stakes on any of those ones

New regs and new deals need to come about from what's happened etc - so that for example no trader can be exposed to say more than twice their capital risk or even better can never lose more than in their account

Regards


F

is there an answer
Click to expand...
:cool:(y)
 
Remember what happened on the Swissy was like a 3500 pip move in under what an hour

From what I gather there's not been a move like that in 40 yrs or so

I have seen 1000 pip moves in a day ( UK election day on GJ etc )- but anything over say 500 pips in an hour or less is massive and very unusual.

We might get another massive move on the EU this week - but I doubt it will be more than 500 pips in a day

Off for a bit of lunch - back later on
 
1 15PM

Ucad

Wwe have news in less than 15 mins on this pair

Price now at 2015 and above 1930 and 1960 the pair is still in a bullish price structure

High so far in January 2015 as been 2046/47 area

Above 1978 and 2000 you still need to look at more scalp buys that should take price above 2015

Any pullbacks under 2000 can be scalp sold down to next supports etc
 
1 42 pm

UCad so far not made above 2022 and 17 -20 is a R area

We are still scalp bullish above 2008 for now but unless we can break above say 25 and 30 we will stall and turn down to test 2000 and lower

EU

Still scalp bullish above 1578 as far as I am concerned - but needs over 1600 and 1610 to be looking at more scalp buys
 
Forexmospherian said:
1 15PM

Ucad

Wwe have news in less than 15 mins on this pair

Price now at 2015 and above 1930 and 1960 the pair is still in a bullish price structure

High so far in January 2015 as been 2046/47 area

Above 1978 and 2000 you still need to look at more scalp buys that should take price above 2015

Any pullbacks under 2000 can be scalp sold down to next supports etc
Click to expand...

1 49 pm

So far UCad made 2035 - I am exiting before 2 00 pm at 2031
 
2 20 pm

GU

just about touched 5200 on my one platform and 99 on another

Pullbacks staying above 5177 can be looked again for more scalp buys

We need under 72 and 67 and 60 to be holding onto scalp sells for a larger pullback
 
EU

2 24PM

Last hope to do some more scalps buys are above 1578 now

Under 1572 and 65 - be holding or taking more scalp sells
 
This week I am only scalping for trades that last under 20 -25 mins - I might leave the odd one on with 30% stakes if it looks as though its got legs etc - but aware that we might get some more big play over the next few days with ECB etc and the market already having one excuse to do more play

Majority of the big dumps or withdrawals always happen on the exact hr or half hr change - so thats why a bit more caution etc
 
Forexmospherian said:
2 33 pm

The UCad as now made a new January and year high - so far at 2053

Above 2038 still scalp bullish for now
Click to expand...

Approx 10 mins later

UCad stayed above 2038 - in fact above 46 and now just made 2066

45 is a cut off - i we stay above it we might be able to scalp buy again

Under 45 and 37 then look more at scalp sells as we might have peaked etc

Remember also clues on 30 min rules on interim highs and lows

GL
 
EU

2 46pm

1578 again

Thats 3 times I have been able to scalp buy from that area - all with stops under 5 pips

Need under 76 and 72 to be looking at scalp sells for now
 
GU

2 47 pm

Will await until after 3 00 pm to look at more scalps

I think its peaked at 5199 / 5200 for now and should drop again under say 96 - but you never know as supports 5175 / 80 and we need under there to look at more sells
 
Forexmospherian said:
Approx 10 mins later

UCad stayed above 2038 - in fact above 46 and now just made 2066

45 is a cut off - i we stay above it we might be able to scalp buy again

Under 45 and 37 then look more at scalp sells as we might have peaked etc

Remember also clues on 30 min rules on interim highs and lows

GL
Click to expand...

We kept to HH's and HL's i have had missed last 10 pip rise up to 2079 - as exited again before the 3 00 pm hr change

Cut off now at 2061 - above still scalp buys
 
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