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

[MajorMagnuM]

halved two of my remainders aT 42 AND 45 PIPS

 

[MajorMagnuM]

Added at 598. Will pull if it drops to 54

 

[MajorMagnuM]

Add on currently -4 . That was shnit reading

 

[MajorMagnuM]

My stop at -6 immediately below tl.

 

[MajorMagnuM]

I added again

 

[MajorMagnuM]

combined loss of 12 on those addons. bum

 

[MajorMagnuM]

ok stopping as two mistake in a row, thankfully on sensible stakes

 

[MajorMagnuM]

sure.....


Ranges are good because they mostly fail...... the dark green box is the range after bears are showing their strength, the outside bar broke above and failed trapping the bulls, the bar is 22 pips, also broke below and failed (a fail final flag) and trapped the bears, that bar is also a range bar (not trend bar) which set the boundaries for a larger range (light green box)........ then prices broke above.....strongly (but as we know ranges BO often fail), broke also above the upper channel line and the resistance line, bar 1 is a reversal bar kind of.....(wick at the bottom), the bar after that trades below its low which makes it a first entry, the third bar after 1 bar trades below his previous one at a more expansive price then the first entry which is a second entry and more reliable one when you have a strong push prior in the opposite direction. So here you have many trapped traders.....range,channel line and resistance line.....I hope I have been clear enough...

1060 is my TP (I am dreaming) I am short from 1437...wish me luck

yes, that's very interesting info on how to read a bar by bar account after a strong move up and reminds me to always remember to be range aware.
to be clear , when you say :the outside bar broke above and failed trapping the bulls you mean the large black bodied one with larger wicks that touches both the top and bottom of the cyan box.

broke also above the upper channel line.
see my attachment for the red and purple dynamic lines being retested at 8.00 am precisely



the third bar after 1 bar trades below his previous one at a more expansive price then the first entry which is a second entry. : i think what you are saying here is that the larger range of the third bar from the first (the fourth bar which comes off your dotted upper channel line) is significant because its range is larger than the previous one and further traps some bears.ty for this good info. My question is what about bar three? the spinning top with the small white body. would bulls be add there or getting out from a bad long taken at bar 1?

re my attachment.
the boxes just show how the range doubled, halved, then doubled, then held at about 75% range. Interestingly it dropped 17 pips out of range having held about the same from the top of the marked range. the red and purple lines show more meaningful info than the white one above price. i think this as the red and purple have been there longer.

 

[NVP]

I like that one

You can imagine the market makers super computers working out every combination of alternatives and trying to end up with one - only a small minority might see - after all - it wants everyone else's money

We might drop to 1380 and then try 1470 - we might stay above 1416 and try over 60 and then drop 100 pips - the list is endless - and ideally if it can be manipulated to catch out as many traders and organisations as possible - all the better for the few big boys with the real money

I got killed in that last spurt yesterday.....

misread the lot (on ultralow stakes fortunately) .........chased it up and down like a terrier chasing car hubs ....such is life

made 938 pips last week so not complaining

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1644.html#post2543038

N

 

[Forexmospherian]

I got killed in that last spurt yesterday.....

misread the lot (on ultralow stakes fortunately) .........chased it up and down like a terrier chasing car hubs ....such is life

made 938 pips last week so not complaining

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1644.html#post2543038

N

Morning N

Hope you are well and all is going well

Well Done on 938 pips last week - that's a lot more than me even double or treble counting part stake trades/ orders.

There is no 2 ways about it though - you are an out and out scalper - taking what - on average 160 trades as day :-0 if you are looking at 800 trades last week as mentioned in your own thread. Are you counting both entries - ie open and close - or just entries ??

Even if you are counting both entries and exits on your log - its still 400 trades a week - approx 80 a day - which is an awful amount of trades and costs - as well as energy etc etc taken.

As you know I take on average 10 to 20 trades a day - and that might show on my own statement as anything from 25 to 60 lines which covers the part stake exits etc or if I use multi entries over say 1 to 3 pips and I then have more exits - but I dont normally count multi entries as more than one trade.

My net averages might only be 8 pips on 100% stakes and then the 30% stakes are from anything from 2 pips to 100+ pips in a day - but even if I only count them as 15 pips - my overall average is say then approx 11 pips per entry.

I am working yours out as under 2 pips maximum - which is then besides very costly - not that work efficient in terms of time taken and spent etc etc.

OK as long as you make money - then that's the main thing - but if you are targeting say $500 a day or even $2500 per day - you ideally want to achieve it safely and with less stress or energy used.

That's one reason why I dont like taking over 20 separate intraday trades in a full day session - I will on odd occasions - if I either need to - or I am on a roll etc etc - but 95% of the time I stay under my limits .

I would say if you were only in your 20's or early 30's - no problem for a few years - but at our ages - we want ideally "greedy cherry picks" - ie 5 intraday trades and 150 pips would be fantastic - but rarely does that happen with tight stops and minimal exposure / drawdown.

Hope that makes sense and you can see were I am coming from - but "ay" - If it suits you and you like it etc etc - just keep it up and go for it

Have another cracking week N - all the very best


Regards



F

 

[Forexmospherian]

Going to feature some EU charts etc today - but will post in the "devil in the detail" journal a bit later on along with some updates of the last week

Regards


F

 

[NVP]

Morning N

Hope you are well and all is going well

Well Done on 938 pips last week - that's a lot more than me even double or treble counting part stake trades/ orders.

There is no 2 ways about it though - you are an out and out scalper - taking what - on average 160 trades as day :-0 if you are looking at 800 trades last week as mentioned in your own thread. Are you counting both entries - ie open and close - or just entries ??

Even if you are counting both entries and exits on your log - its still 400 trades a week - approx 80 a day - which is an awful amount of trades and costs - as well as energy etc etc taken.

As you know I take on average 10 to 20 trades a day - and that might show on my own statement as anything from 25 to 60 lines which covers the part stake exits etc or if I use multi entries over say 1 to 3 pips and I then have more exits - but I dont normally count multi entries as more than one trade.

My net averages might only be 8 pips on 100% stakes and then the 30% stakes are from anything from 2 pips to 100+ pips in a day - but even if I only count them as 15 pips - my overall average is say then approx 11 pips per entry.

I am working yours out as under 2 pips maximum - which is then besides very costly - not that work efficient in terms of time taken and spent etc etc.

OK as long as you make money - then that's the main thing - but if you are targeting say $500 a day or even $2500 per day - you ideally want to achieve it safely and with less stress or energy used.

That's one reason why I dont like taking over 20 separate intraday trades in a full day session - I will on odd occasions - if I either need to - or I am on a roll etc etc - but 95% of the time I stay under my limits .

I would say if you were only in your 20's or early 30's - no problem for a few years - but at our ages - we want ideally "greedy cherry picks" - ie 5 intraday trades and 150 pips would be fantastic - but rarely does that happen with tight stops and minimal exposure / drawdown.

Hope that makes sense and you can see were I am coming from - but "ay" - If it suits you and you like it etc etc - just keep it up and go for it

Have another cracking week N - all the very best


Regards



F

thanks F .....all understood and thanks........you are correct on your calcs .......I am making it very hard for myself and its unsustainable ............agreed

I am overtrading full stop............been incorporating some volatility settings into my scalp system over weekend to ease me off the accelerator in low Volatility times....should reduce my trigger finger a little

have a good week ..........I will be trading and trying to pop in tomorrow here if time allows :smart:

N

 

[Forexmospherian]

Monday 18th May 2015 - Pre Opens

Good Morning to all FX Intraday Traders

Got an Airport run to do at 7 25 am and will not be back until approximately 9 - 915 am this morning

I have started already and will do a quick update on a few key pairs and then get back to normal after I am back

Being a Monday with no red news announcements and a Canadian Bnk Holiday for this afternoon - it might be fairly slow - but as we know - you can never take anything for granted in this game

I got a few scalps in to start the day at 6 20 / 21 am - 6 30am and 6 39 am on the EU and my favourite EJ ( slighty out of sync this morning )

Normal stuff and whilst I am out for 90 mins or so - all contributions etc are welcome

Have a good day

Regards


F

 

[Forexmospherian]

6 58 am

Scalp wise - brilliant - 4 scalps in the last 25 mins and up over 40 pips already

The 6 39 40/ am scalp buys on the EU and EJ have both now done over 13 pips and the previous 2 scalp scalp sells at 6 20/ 21 and 6 30 am were not to bad- a nice start to a morning and week

 

[Forexmospherian]

EU

7 01 am

For me this morning - the PS for the AM session is bearish under 1440/45 for now

I am still in a scalp buy at 30% stake with price at 1437/8 and above 1426 its still scalp bullish on pullbacks - but I need to get through interim R's at 1440 and 45 to stay with any buys longer

 

[Forexmospherian]

EU

7 04 am

The high late on Friday was at 1465/6 and since then we have not bounced back over 50 - but have not dropped under 1416 - a key interim support for try up on Friday afternoon

Therefore we are in a 50 pip range for now - with more scalp sells under 1425 - 15 and 1400 etc - and scalp buys above 1451 and 70

 

[Forexmospherian]

GU

7 10 am

Similar set up to EU this morning

We had a high Friday afternoon at 5808 and basically under 5760 we are in a bearish PS for the early AM session

Like the EU and EJ - it was a scalp buy at around 6 39 am - so far rising just over 10 pips - I did not take it as prefer EU / EJ combination normally

Need under 5720 and 5700 to be scalp selling more and of course over 5760 and 80 for holding scalp buys on longer

 

[Forexmospherian]

EJ

7 13 am

Odd one out - its in a bullish PS this morning above 136 50/55 and its just done a new Morning high at 136 89/90

I am in a 30% scalp buy and will place my stop in profit at 136 70 and try and get a 12 pip trail on it whilst out to start if we make over 137 05

Not done one like that before on a ctrader - so hope it get it right ;-)

Ok out in approx 10 mins

Have a good 90+ mins or so and stay focused etc etc

Back approx 9 - 9 15 am


Regards


F

 

[NVP]

morning all

I just cant get the feel of the mornings EU trading so far ...............very gritty

I'm about 100 pips up but paid out a lot of commission as usual ....just cant get a decent run

taking a break
N

 

[Forexmospherian]

EU

7 04 am

The high late on Friday was at 1465/6 and since then we have not bounced back over 50 - but have not dropped under 1416 - a key interim support for try up on Friday afternoon

Therefore we are in a 50 pip range for now - with more scalp sells under 1425 - 15 and 1400 etc - and scalp buys above 1451 and 70

EU

9 15 am

Back now and missed a nice bit of action

We could not get above 1446 and basically after 7 30 am and 8 00 am onwards we have just seen falls and under 1425 - 15 - 1400 etc was all scalp sell land with a low so far at 1366 - so approx 80 pip drop in last 90 mins or so

Bounces staying under 1403 are still sells again - but remember 30 min rule on a new low