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

[MajorMagnuM]

basically i need help

 

[Forexmospherian]

difficult day for me. just could not see session structure. Look how many good contra scalps i sweated while missing all the impulse moves.
ffs

basically i need help

You have had a positive session - but I can see you have done a lot of work with not a lot of return etc

It as been a difficult US session

Today - my daily target was made between 6 30 am and 8 00 am - approx 90 mins

For me - they were the best 90 mins of trading of my day - although after 10 00 am I got bored - but was frustrated later when I realised the GU after 10 21 / 10 30 am had made a 85+ pip rise over the next 90 mins - and I had not spotted it - as was scalping EU and EJ for about 35 pips

So - I ended up working away for 35 pips - when the GU would have been fairly easy for well over double the return

That's trading some sessions - It catches you out with BTTZ's and then you think it will be say - an hour + to go back to normal - and then its 2 hrs or even worse just 20 mins and it all lovely whilst you are out walking the dog ;-)

 

[Forexmospherian]

basically i need help

Saying that - you are getting too used to being so blooming good

ie your results - ie 16% increase in approx 3 hrs - all on small % stakes

What about 120 + pips - although maybe only 35 pips if not treble counted on part stakes - small losses and over 80% win ratios etc etc

95% of traders prey for results like this MM

 

[MajorMagnuM]

Saying that - you are getting too used to being so blooming good

ie your results - ie 16% increase in approx 3 hrs - all on small % stakes

What about 120 + pips - although maybe only 35 pips if not treble counted on part stakes - small losses and over 80% win ratios etc etc

95% of traders prey for results like this MM

thats kind but it seems to me i could not see the huge trend of the day

 

[MajorMagnuM]

ok re GU lr. fair to say longer term, price crossing is sign one,line reversing after that signal 2?

 

[Forexmospherian]

thats kind but it seems to me i could not see the huge trend of the day

That can happen sometimes

Its best at times to have 15 -20 min off and look at say 4 pairs and open up charts to see the last 3 days etc - to get the bigger picture etc

I am frustrated I did not just buy the GU this morning from 8 30 or 10 30 am and leave it on

My 4 min and 10 min LR charts said do that - i ignored them as I did not like the PA on the one min chart to 10 30 am - it had been ugly and i just left it alone - silly me

GU now up 450 + pips from election day - ok got over 200 pips of them over last 2 /3 days - but hardly that good really for me

Off for Tea - will be back later

Are you around much this week ??

Regards


F

 

[MajorMagnuM]

not tuesday pm unfortunately. poss pm tho!
4min and 10min LR charts?.........you never said

 

[MajorMagnuM]

HEY Watsone, a more detailed a/r chart for GU
sl locked in at ten pips.

 

[Forexmospherian]

not tuesday pm unfortunately. poss pm tho!
4min and 10min LR charts?.........you never said

I use the 1 min say 80% + of the time - I then look at a 4 or 5 min and others up to say 30 mins for the bigger picture - once or twice a day if its slow and at weekends even the weekly and monthly to get the world wide view etc - but as you know most of my intraday trades are off a 1 min LR chart or a tick chart if I am purely scalping

 

[MajorMagnuM]

ok so lr structure on 4 and 10 worth noting?

 

[Forexmospherian]

ok so lr structure on 4 and 10 worth noting?

I would not recommend them for traders using my method until they completely understand the 1 min LR structure - but they can assist - but also can confuse you more

If i got get a 1 min chart that covered say 3 days of back history in a 22 inch screen - I would stay with the 1 min chart 90% + of the time - but because I cannot I have to use say a 3 to 5 min - or even a 10 min if i want to see over a week back

I have been using some 10 mins and 20 mins on the devil in detail journal last 2 months to show the bigger picture of some moves - a 1 min would not go back far enough

 

[Forexmospherian]

Just noticed - the last high on GU at 5612 / 13 was at 6 38 / 39 pm - a key time - pity i was not trading or watching at time

Since then - just over 1 hr later - its dropped now over 30 pips - I hardly ever trade nowadays after London close - only now and again if a US red news item - but been checking out a few time rules since having my tea

Looking forward to Safe House on TV - the climax tonight

See you later or if not around 6 30 - 6 45 am in the morning - after I have taken my first one or two trades at 6 21 or 6 30 am ;-))


Regards

F

 

[MajorMagnuM]

Just noticed - the last high on GU at 5612 / 13 was at 6 38 / 39 pm - a key time - pity i was not trading or watching at time

Since then - just over 1 hr later - its dropped now over 30 pips - I hardly ever trade nowadays after London close - only now and again if a US red news item - but been checking out a few time rules since having my tea

Looking forward to Safe House on TV - the climax tonight

See you later or if not around 6 30 - 6 45 am in the morning - after I have taken my first one or two trades at 6 21 or 6 30 am ;-))


Regards

F

yep!

 

[Forexmospherian]

yep!

Very well done - that's bumped your session up a bit

What am I doing going to watch Eastenders - and then the Safe House drama at 9 00 pm - I want to see what my son's up to watching Eastenders lol

speak to you soon

Regards

 

[Forexmospherian]

Tuesday 12th May 2015 - Pre Opens

GM to all FX Intraday Traders

6 22 am for this morning - ie Time of first scalp sells on EU and EJ

Normal stuff

All questions related to FX Intraday trading welcome

All charts and input etc - also very welcome - please feel free to join in.

Hopefully you know my method by now - if not I suggest you check out my other threads on the Forum - including the Devil in the Detail Trading Journal

Calender slightly busier than yesterday - but still not too much red news other than on GU and AU this morning

OK updates and quick reviews first

Have a good day


Regards


F

 

[Forexmospherian]

6 40 am

EU

Its been in a bullish price session since after 3 00 am this morning - with the EU moving up approx 40 -50 pips to a high so far at 1188 at 6 07 am

Supports at 1150 and 60 for a start and first R's at 1190 -1200

It was 6 22 am at 1185/6 - a LH that was my first scalp sell this morning along with the EJ

So far approx 20 mins later 13 pips lower on both pairs

Nice start to the day

 

[Forexmospherian]

GU

6 53 am

Further rises yesterday - 5 days after the UK Election - although only 3/4 days for the market

Topped so far yesterday at 5611/12 and guess at what time it stopped and pulled back ?

Yes exactly 6 39 pm - and you might have seen in this thread - Major Magnum - nailed it and sold at 5611 - top class scalping and verified by his live statement for all the members here who just don't believe anything we do is possible or true.

Since then we have not been able to get under 5564 and supports have formed around 5565/7 area

Price now at 5573 after a LH at 5583/4 in this hour

The first scalp sell did not line up so well as the EU and EJ but was more like after 6 27 and 6 30 am from around 5580

Not it that one but still in the EU and EJ scalp sells - although now dropped to 30% stakes and banked 70% stakes

We are in a 25 pip range atm - lets see which way we break out of it

For now - it wants lower - but can 5550 / 65 area hold ??/

 

[Forexmospherian]

AU

7 01 am

I am mentioning this pair early as we have some red news on it at 10 30 am UK time this morning - unusual - most red AU news is in the Asian session

Its in a bullish price session above 7900 with price making an high at approx 7940 area and now its pulled back to 7927 ish

Supports at 7900 to 7910/15

It was another scalp sell from 6 30 am - but not in it yet - as with the EU and EJ sells - although now the baby sitting part is over on those two

 

[Forexmospherian]

EU

7 07 am

So far fell to 1167/8 and i will stay with my 30% stake while we stay under 1180 - as my stop there is in profit and main stake part already banked

Similar set up on EJ with stop at 43

 

[Forexmospherian]

Just so you are aware - 7 00 am was the bounce time on many pairs in scalp sells

Have not scalp bought on any pair atm - just looking at peeling out of sells instead for now