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

[Forexmospherian]

EU

3 15 pm

The cut off on 30% stake sells is 0913

Under there we will test 0900 and lower#

If we cannot break lower - then we come back to test 13 and 19

 

[Forexmospherian]

3 19 pm

Low so far 0884

Lock in profit and / or drop to 30% stake with stop in profit at say tight 0907

 

[Forexmospherian]

3 21 pm and 0890 was a scalp buy

Posted that on the video thread of MA in his trade journal

 

[Forexmospherian]

3 43 pm

Got to do school run and some shopping on way back

See you later guys and GL

F

 

[be-positive]

3 43 pm

Got to do school run and some shopping on way back

See you later guys and GL

F

ffs with the money you have under the bed , can you not hire a butler (lol)

 

[Forexmospherian]

ffs with the money you have under the bed , can you not hire a butler (lol)

Lol

What a butler , maid, chauffeur as well as my wife and the mistress - i would have to trade more ;-)

 

[Forexmospherian]

EU - 10 min chart - 2 chart up to Friday and now today

EU

Posted first chart in my trading journal and now another after London Close today

Then part 2 with today

 

[MajorMagnuM]

Hi gft32

I think you are right.

Nobody - whether a scalper of swing trader should look at going full time under maybe 3 or 5 years - they will just not have enough experience and screen time and past results to support what is necessary.

With NVP he's been trading on and off part time for 15 yrs - and in that time - even if he just averaged say 10 hrs a week - he's still got well over 7000 hrs of experience - and although you dont need that amount of time to make it with my method - I do think you need 2k +.

With Major Magnum - he had over 18 months before he went over to my method and then easily put in 25+ hrs a week - besides still doing his main work - by spending times at all hours of the day - ie some early sessions from 6 am to 8 00 am before he left to work and then some after 10pm at night after his children had gone to bed - some times trading until 2 am in the middle of the night.

Personally I dont recommend it - but at least over the 6 -8 months whilst learning my method and on demo - he got well over 500 hr of live chart time - and over 1000 demo trades. Now approx 13 / 14 months on from when he's started - he will soon be at 2000 live trades and easily over 1k hours behind him.

I therefore think he's ready to try full time - or at least cut his work back a couple of days a week during this next 6 months.

My method will work on longer time frames - but of course you need then larger stops and you will not end up so profitable or accurate etc.

I do think you can try and take swing trades with say 150 -200 pip profits over 2 to 4 days with say 40 -70 pip stops - but you will not get 70 -85% accuracy - more like 55 - 70% top - and then you may be able to fit trading in with a full time job and with family life. If you are able to do this successfully for 2 or 3 years - you might then have extra capital to have say a 3 -6 month break ( sabbatical ) from work and then go for it.

I was lucky - as spent approx 5 year part time before going full time - and being semi retired did have an easy 20 hrs a week over the Key times to learn the craft and find the edges needed. Without that period - I would never have been able to take the jump needed.

When I started - i thought I would have it all cracked and be well down the road to great success in just 2 or 3 yrs. How wrong i was - I nearly gave up several times during my first 3 yrs - totally frustrated - ie have great weeks or months - and then 3 or 4 bad days - and I felt it was 2 steps forward and 1 step back all the while.

I will say though - if it takes 3 or 5 or 7 years and you can make it all the way - it can be so worth while in terms of returns and satisfaction etc

Regards


F

yeah, from my experience i can say the following would help me second time round.
1) have regulars slots.
2) trade after 6pm rarely. i still feel generally quite burnt out from the combined pressure of normal day ro day tasks coupled with learning new disciplines. i have an 8 and five year old, the 8 yar old did not sleep well for 7 years so still recovering from that!

 

[Forexmospherian]

yeah, from my experience i can say the following would help me second time round.
1) have regulars slots.
2) trade after 6pm rarely. i still feel generally quite burnt out from the combined pressure of normal day ro day tasks coupled with learning new disciplines. i have an 8 and five year old, the 8 yar old did not sleep well for 7 years so still recovering from that!

Hi MM

Hope you are well

Yes agree - and forgot to mention - you do need your sleep and switch off time to recharge the batteries.

I am looking forward to a Holiday in April - normally by this time of the year I would have had a week or so - but missing it and I realise - I need it now

Last week was a busy one - especially the 18th with the FOMC

Hope you are ticking over OK - and step by step

Regards


F

 

[Forexmospherian]

EU

Approx 6 00 pm update

Finished for day - but for me the EU is still in a bull price session above 0920 - and we could even pullback down to 0860 /70 - and still turn up Ok and try over 0955 again

Under 0860 and 20 and then under 0800 and 0770 - well would be scalp selling for larger pullbacks or a turn back down

Its been a good Monday

Hope you all have got some positive pips etc

F

 

[Forexmospherian]

Tuesday 24th March 2015 - Pre Open

GM to all FX Intraday Traders

Another busy morning for red news announcements

8 00 am and 8 30 am - EU

9 30 am GU

12 30 pm - US Dollar

Will not be here for the first 2 at 8 00 and 8 30 am UK time but will be back shortly afterwards

My first scalp of this morning is the 6 29 / 6 30 am short on the EJ at 130 / 86/7

Would need under 67 to stay with it - but instead expect to scalp buy slightly above there

Normal stuff this morning and all participants are welcome


Have a good day


Regards


F

 

[Forexmospherian]

EU

6 44am

Went with EJ for first scalp and left the EU alone for now even though looks similar

Price at 0933 after a high of 0973/4 and last LH at 0953

Above 0925 still in an up bias from 3 hrs ago

Need really under 0900 to think it going to be a down bear price early session for now

 

[Forexmospherian]

EJ

6 47 m

Out after hit and bounced at 75

78 was a scalp buy - but ignored it for now as - not wanting to jump in just for 3-7 pip moves all the while

Structure wise - bullish for this early session above 130 55 / 60 - but not back above 131 00 + to look at holding on or taking more scalp buys to test yesterdays high of 130 35

 

[Forexmospherian]

AU

6 53 AM

Noticed it made 7900 yesterday and like EU and GU been intraday bullish and still is above 7840 and 25

Price at 7976 and need to stay above 62 / 65 on any pullbacks to try more moves directly up next hour

 

[Forexmospherian]

EJ

6 56 am

Could not make above 130 87 and basically another scalp sell that I jumped on as soon as it went past last low of 76 - confirmed at 6 51 am - but started out of TW

Needs under 60 to now stay with sell - but expect a bounce after hr change

 

[Forexmospherian]

EU

6 51 am and previous interim low in last 30 min said scalp sell - but not jumped in - only went with EEJ for now

Bounces staying under 0930 are sells again with supports at 0907 to 0912 area

 

[Forexmospherian]

EJ

6 56 am

Could not make above 130 87 and basically another scalp sell that I jumped on as soon as it went past last low of 76 - confirmed at 6 51 am - but started out of TW

Needs under 60 to now stay with sell - but expect a bounce after hr change

EJ

7 02 am

Made 49 bounced and I was out 52/3

Under 68/70 on pullbacks - maybe another scalp sell

 

[Forexmospherian]

7 05 am

2 scalp sells on EJ only so far - and 29 pips in the bag - second scalp sell being a nice one of over 20 pips

 

[Forexmospherian]

GU

7 08 AM

joined in after 6 51 am on the dollar strength and became a sell at 4939 / 40 area

Not taken it as was busy playing with EJ and watch EU

So far down to 4921 and now under 4930/ 35 price session structure looking more bearish

This would change only if price gets back over 4950 and 60 areas

 

[Forexmospherian]

7 12 am

EJ

I want to scalp sell again - but watching the 30 min rule now on 6 59 am low

Price as made now back to 72 so slightly above my planned sell at 68 / 70

I never just jump in a price - I need time and PA and LRs and other clues to line up

We are past 7 09 am and end of last TW and so really any scalps are out the TW for now

Its pulling back down - but not in it as I reckon it might find supports again now at 57 to 62 area

If I am wrong - missed a nice scalp sell - but its not the end of the world