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

[Forexmospherian]

GU

9 16 am

Move 30% stop down to 33

Remember news at 9 30am

 

[Forexmospherian]

9 17 am

Exit 30% stake at 28 after a 25 low

Trade closed

 

[Forexmospherian]

GU

9 21 AM

Could not take scalp buy after 9 16 am - as needed to exit sell and stop etc and also outside my TW and maybe too close to news now

Saying that since exiting at 28 the scalp move up as now gone to 48 - ie 20 pip move up in approx 5 mins

 

[dearlife1989]

insane!

 

[Forexmospherian]

9 31 am

GU bounced up to 5155 - and then on news release dropped so far to 5075 - approx 80 pip drop - big

What a set up - under 5120 - you can scalp sell again

 

[gftrader32]

Morning F, hope you are having a good day...

Was wondering if you could tell me why did you move from spread betting the currencies to the actual forex market and if you were using same method on your spread betting account?

What's your advice on spread betting vs. forex?

Have a good day.

 

[Forexmospherian]

Morning F, hope you are having a good day...

Was wondering if you could tell me why did you move from spread betting the currencies to the actual forex market and if you were using same method on your spread betting account?

What's your advice on spread betting vs. forex?

Have a good day.

Morning gft32

For the first 6 yrs of trading I used spread betting - but in those days there was not ECN or straight through brokers etc

I was with GFT uk for 5 yrs and was spread betting on over £150 a pip at one time - and waiting up to 30 -50 seconds to get entries - as they were hedging my trades etc - which of course did not help me.

Spread betting is fine- but ideally you need to be day trading after targets of say 20 -100 pips with soft stops at 5 or 10 pips with hard stops under say 20 pips. You will get poor fills - they might not want you if you get too good and then they will give you bad fills.

The fact that its tax free is the big draw - thats worth spreadbetting with a good broker who is regulated etc - but know they are not really on your side.

OK not spreadbetting loses you tax advantages etc - but you will get tighter spreads and faster executions with ECN / STP brokers and if you are scalping and taking say over 15 trades every day - go for a proper ECN broker like LMAX / FXpro / Dukascopy etc who are regulated etcetc.

Its swings and roundabouts - but money talks and you can negotiate better deals with larger capital accounts etc etc.

If you have a proper good method - then you shop around and find the broker that works for you - and even compare one against another over 3-6 months before going solo with one

With regards Black swan events - if I had had say a $40 buy on the Euro/ Chf the other day and my hard non guranteed stop was gapped - that 3500 pip drop would have cost me over $140k and I only have say $60 as capital in the account

Luckily i did not have that order on - but things like a 3000+ pip move in under an hour might only happen every 20 -40 yrs but 500 -1000 pip quick moves can happen every few years - so thats the risk you live with

Regards


F

 

[Forexmospherian]

GU

10 00 am

Low as lasted 30 mins
We had sells under 5120 - 5115 down to 5094 and now over 5117 means it trying to turn back up with supports at 5080/ 85 and 50 95

scalpers range is 5117 to 5090 - say 30 pips - wait to come out of it really

 

[Forexmospherian]

EU

10 05 AM

It was a buy in TW after 9 51 am - but i waited until 10 01 am and in at 69

So far only 74 - might have to cut it now as its not gone high enough - ie over 78 and 80 to hold on

 

[Forexmospherian]

Look boring atm

Will pop back after 10 30 am and review and update on a few pairs

See you in a bit

 

[Forexmospherian]

10 35 AM

Still boring for now

EU was a sell at 10 26 am at 1580 - but I waited to after 10 30 and got in late at 75 to see it only drop to 69 and still in its tight BTTZ range

I think I will leave EU until either above 1590 and 1600 or under 1560 etc

GU still its its BTTZ and will now check some other pairs

Slow morning so far only 6 scalps in approx 4 hrs

 

[Forexmospherian]

AU

9 01 am

Not mentioned this pair so far this morning

Supports at 8155 to 65 and i would like to look for scalp buys above supports

Would only hold on to scalp sells if you are in any under 8150 and 45

AU comment from over 90 mins ago

The devil is in the detail

Low made on fall was 8168 - ie above supports

So after 9 09 am or even 9 21 am or even 9 31 / 32 - buy from say 69 to 72 to suit you etc - for me had to wait as keeping out exactly on 9 30 am as ,mentioned

Any way since then and from 8170- the AU as risen over 35 pips and is now should resting around 8200

Pullbacks above 8180 can be looked again for more buys

 

[Forexmospherian]

UCad

10 48am

We have red Cad news later on today and for me above 2075 / 80 supports the price structure is bullish

We have done a LH at 2108 this morning and presently around 2085 -95 is a BTTZ range

Keep an eye on it for buys again over 2100 and 2110 and sells under 2073 and 67

 

[Forexmospherian]

Back next hr but might be after 11 30 am

Stay focused and GL

 

[Forexmospherian]

12 23 pm

Back now for a bit prior to lunch and news

 

[Forexmospherian]

AU comment from over 90 mins ago

The devil is in the detail

Low made on fall was 8168 - ie above supports

So after 9 09 am or even 9 21 am or even 9 31 / 32 - buy from say 69 to 72 to suit you etc - for me had to wait as keeping out exactly on 9 30 am as ,mentioned

Any way since then and from 8170- the AU as risen over 35 pips and is now should resting around 8200

Pullbacks above 8180 can be looked again for more buys

AU

we stayed above 8180 and my 30% stakes ( yes 2) now have seen 8218

I will stay with one above 8207 and the other above 8201 - both stops in profits

 

[Forexmospherian]

AU

we stayed above 8180 and my 30% stakes ( yes 2) now have seen 8218

I will stay with one above 8207 and the other above 8201 - both stops in profits

Just noticed under 8216 is a scalp sell for now

Difficult - dont want to enter before 12 31 pm and got my buy stops near as well so may take one 30% buy off if we dont make above 8217

 

[Forexmospherian]

Just noticed under 8216 is a scalp sell for now

Difficult - dont want to enter before 12 31 pm and got my buy stops near as well so may take one 30% buy off if we dont make above 8217

AU

12 52 pm

the 8216 scalp sell stayed going over the 12 30 TW

I exited both 30% stake sells at 8208 .

News at 1 30 pm so will be back for then

 

[Forexmospherian]

Just before I go for a quick sarnie - EU - 12 51 pm another scalp buy at 1583

Check out - above 1578 and 82 - I have said at least twice - scalp buys are on for 1600 area

We need over 1603 and 1610 to stay with scalp buys now - but i will be out for 1 00 pm chnage anyway

 

[Forexmospherian]

1 23 pm

Here for this red news in approx 7 mins - but might not be around for more Cad red news at 3 00 pm

EU as made over 1600 now and UCad as been falling