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

[Forexmospherian]

eu buy here?

Had not been watching and exited EU scalp sell around 68 area ages ago

Yes over 80 and 82 its scalp buy land - but needs to break above 96.

Under 80 and say 75 scalp sell again

 

[Forexmospherian]

2014 - A new trading year with mine starting tomorrow January 2nd from the Opens - European Open from 7 am and London Open from 8 am UK time.

I notice we do have a few red announcements tomorrow with UK news out at 9.30 am an then US news at lunchtime and later on.

Just a recap for all new members - who don't want to go through 700 pages over the last 2 months of me speaking to myself and saying what I am thinking and doing. I would like to thank Major Magnum getting involved in the last 6 weeks - he had approx 2 yrs of normal experience behind him - but was not making consistent monies and was keen to follow what I was up to - on the short term Intraday level.

Already he's having some very good days - like Tuesday 31st December - see his figures - in last 3 or 5 pages - and he has not yet done 500 intraday scalp trades yet ( I am sure he will hit that number soon) but his understanding my strategy and goals etc etc.

My main goal is not to have a losing day - ie a profit everyday

My daily target is 50 pips . My stops are always under a maximum of 7 pips - 3-5 pips on EU and all low spread pairs with commissions and costs under 1 or 1.5 pip per trade

If I cannot get a trade entry with a stop under ideally 5 pips ( including costs) then I will not take it - I will wait for another opportunity - and normally they are not that far apart.

I take normally between 10 and 20 trades a day over a 4 to 10 hr period - depending on how the markets moving.

My key pairs are normally EU / GU / AU / EJ / EA / UChf / and occasionally GJ

i don't stop if I hit my daily target with just 4 or 5 trades - and so on good days do have 150 -250 pip days - with my best last year being on July 4th - a cracking 409 pips within the day off 24 trades - with only 4 losses.

On bad days - when I struggle and have 3 or 4 bad trades in a row - I then have to work harder and longer and take more trades - to turn the loss into a profit - and if possible to the target 50 pips.

During the last 2 months - every day as been profitable - but on 2 days I did not make my 50 pips.

My targets are 7 -25 + pips normally - If the move looks a good one - I will then use a "free trade" with only 30% stake left on - with the stop in profit.

If that trade then goes on to make 30 or 50+ pips in is possible than it can make me more profit than the 70% initial stake scalp.

I might take up to 3 scalps at a time - but normally only 2 and will try and major every day on one pair ( scalping it) whilst leaving "free trades" with no risk on other pairs.

I cannot always give more than 2 min notice on scalps - and so they do not always appear quick enough to copy. However - once you understand my time windows and general thought etc - you will understand what I plan to do at certain times and prices.

I do advise you to refresh the pages every 1 or 2 mins if you are following for a few hours so that you see the calls - rather than finding out 2 -5 mins later etc.

This thread is really a trading diary of my thoughts and intentions and afterwards I can check why i took the trades etc etc - and the ones that go wrong - I can recap why ?

All short term intraday traders are welcome to comment and ask questions - even on other forex pairs I am not covering - no problem

I know i will have a profitable trading year - whether it will be my best - i don't know - that depends on the markets and how much time and effort i put into my trading.

I will also break over 15000 live trades during the year - so I am used to it - but will still make mistakes - because all traders have losses.

You will see when I am in the zone and focused and also will see when I get caught out.

I would hope I can get MM more consistent in next 3 months - and then we can cover some more currency pairs - as if he uses my system and methods etc - i will have total confidence with his calls - without having to spend 5 mins checking the pair out for a scalp trade.

i trade normally under 1% stake with a 50k + account and still expect returns of 4 -6% per day - with good days easily over 10% + ( remember some of my free trade stakes might only be on 0.2- 4% stake size)

As I have said many times - retail forex trading and commercial forex trading is chalk and cheese.

I would not be able to do 5% a day on a multi million pound account. But on a $100 account I will put several hundred percent on it in a day - simply because I can afford to blow $100 accounts - I am not in a position to blow £50 mill accounts - or even lose say a quarter of a million on some bad trades - different world.

So if anyone says you cannot put 30 -50% per month on retail trading accounts under $10k - as the commercial trade only do 3 -7% per month - then hopefully you now know what to say ;-)))

I will also do some live small account 10000% gains in between normal trading and will share the results.

I do plan to have 4 weeks off over next 3-4 months - skiing is now off the agenda after what's happened to Schumacher - and I never wear an helmet - as it mucks my hair up ( lol) - I just hope my one time hero pulls through - 44 yrs old is no age.

Saying that - I am also 60 yrs old this month - cannot run half marathons under 2 hrs now - but 10k runs are still OK . Mentally - I am not as quick or alert as 10 -15 yrs ago - but because I am more experienced as a scalper - I can still hack it ;-))

OK - I wish all of you a Happy. Healthy and Prosperous New Year

Look forward to you pulling me apart this year as well - you know I like it ;-))


Regards

F

 

[Pondlifedregsbutler]

Happy New Year 4xmofo, here's one to get us started off on the right foot for the new year :cheesy:

 

[Forexmospherian]

Happy New Year 4xmofo, here's one to get us started off on the right foot for the new year :cheesy:

LOL - nice one PLDB

Surely after this last month - you must have thought - yes he can "talk the talk" AND walk the walk ;-)

Saying that my main follower who I have been giving tips to - Major Magnum - seems to be improving too quickly - he will be out trading me soon ;-))

Wait to you see what's next to keep you amused - you will like it - and its not trading from sitting on the "carsey" all day eating bacon sarnies ;-))

That really is tooooo RISKY

Have a great week and keep with the "booms" rather than the "busts" - although I have got to admit I like Kelly Brooks "bust" ;-)

Regards

F

 

[sonofcablemonster]

dont worry PLDB forexmos is going to trade a small account and post up the statements in January. I hope he does well as he looks like he knows his onions. failing that I can recommend going long the natural gas crack spread.

Happy New Year 4xmofo, here's one to get us started off on the right foot for the new year :cheesy:

 

[Splitlink]

Happy New Year 4xmofo, here's one to get us started off on the right foot for the new year :cheesy:

You are starting the year on form, too, by the look of it.

 

[Forexmospherian]

Morning Traders

We start 2014 off with the GU still bullish - making another high over 6600 at 6604 - the EU bearish again - testing 3735 and under Tuesday's low and supports area.

UChf / Swissy is also dollar bullish with a new high at 8937 - scalp buys from 23 are on with 6 mins to hr time window and approx 15 mins tom London Open

More review updates on other pairs to follow

 

[Forexmospherian]

The EJ - is similar to EU and is falling again with new low so far this morning at 144.67

Need to check out next interim R on Swissy and supports on EU and EJ

 

[Pondlifedregsbutler]

soz 4xmofo for the little outburst my intel tells me you are quite a superstar at teh forex and I will now bow out of this thread as 1ve made myself look a litte silly by calling you out as a billy bserer and its obveeously not the case its just over the years i've sean so many of the 50% a week posse come and go and yet have only been able to roll up my account by a few % per week with eny consitancy b4 the inevitable of curse
Long live 4xmofo and this thread n others like it show em how its dun bruv

 

[Forexmospherian]

EU as supports from 3720 to 28 so you might expect price to falter soon at the hr change - similar the Swissy as R's at 8940-45 area and high so far is 41

 

[Forexmospherian]

soz 4xmofo for the little outburst my intel tells me you are quite a superstar at teh forex and I will now bow out of this thread as 1ve made myself look a litte silly by calling you out as a billy bserer and its obveeously not the case its just over the years i've sean so many of the 50% a week posse come and go and yet have only been able to roll up my account by a few % per week with eny consitancy b4 the inevitable of curse
Long live 4xmofo and this thread n others like it show em how its dun bruv

Long Live Pondlifedregabutler as well ;-) - got to help you make up for all those other false BS's and make you some good pips this year

2014 - and I hope Forex trading will start to make more sense to you - Have a great year

Regards

F

 

[Forexmospherian]

8.00am UK time and LO.

Both EU and EJ have started their bounces and Swissy as topped just at 8944

OK for quick scalps - BUT - Swissy still looks bullish and EU and EJ still bearish - so we need to check prices at end of this time window at 8.09am

Will turns start or not - ?? need more clues still

 

[Forexmospherian]

Caught out on Swissy - but OK on EJ for 5 pips. Swissy still trying and once it went over 45 and 47 was a scalp buy again - which I was too slow to get in - Price now at 53 - and still bullish over 46

 

[Forexmospherian]

GU - although bullish - as been falling last couple of hrs from its New Year high at 6604 - and now in last 30 mins dropped lower to 6562 and a support area at 6555 -65.

We have UK news at 9.30am - so had planned to ignore to then - but really its pullback as been one of the best - ie 50 pips - shame I have missed it

 

[Forexmospherian]

Swissy - high at end of time window - 8959

Will it hold ?

Would only scalp buy again over say 63 and 66 - otherwise look for scalp sells which would be confirmed at 52 and 49

 

[Forexmospherian]

EU low in hr time window was 3720. however now breached and trying lower - still in scalp sell mode as is EJ

 

[Forexmospherian]

Swissy needs now under 54 and 52 to confirm scalp sell and over 63 and 66 to make me think higher

 

[Forexmospherian]

EJ - 144 - 42 to 50 is a support area and price currently at 52-53

 

[Forexmospherian]

EU stopped at 37157 and really now trying back in to support area. In the Swissy scalp sell and will lok at EU and EJ scalp buys now - but need to get in within 5 pips from bottoms - so cannot atm

 

[Forexmospherian]

Swissy still not under 54 and 52. Went in at 59 - and now pondering as still not falling as it should - will pull again now for another swissy loss of 2 pips - not a good start on this pair ;-(