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

[Forexmospherian]

Which is why some time back I suggested scalping, as the term is used here, is almost impossible on a retail platform for precisely those reasons.

Professional scalping is a combination of massive size, for miniscule fractions of a point and most importantly, for close to zero cost. It typically involves crossing the spread or occasionally (though rarely in forex) slow arbitrage or by outright directional plays (what you lot are doing) but only by having access to order flow info, which I'm fairly certain you don't or you would certainly have mentioned that as it would be key.

For those following Mr. F's methods I don't think there are many that will be able to emulate his apparent performance which I suspect even he himself must attribute primarily to an inordinate amount of good luck.

And before MajorMagnum comes by to tell me to feck off again, this is something I have some knowledge of sir.

Hi Pat

only about 10% luck - 90 % skill at the highest level and minute detail.

No commercial Pro would have spent the years and time I have spent purely reading a 1 min chart at what I call the "coalface" - or as many say in the "noise".

It becomes very readable on a intraday basis.

No matter how many supercomputers are involved in rigging levels etc - there are some basic "give aways" that are all part of the markets game plan.

Major Magnum was as suspicious as you are - until he realised how by taking in more variables - such as time and gameplay and then really spending 1000's of hours cracking the code was all worth while.

We can never be 100% accurate on 100's or even 1000's of trades - never

I am happy on any win ratios over 70% and 80 -85% is brilliant on lots of 100 trades - and then as long as the market moves every day more than 20 pips in either or both directions - I can make money.

If the brokers raised spreads to 4 or 7 pips - that would make it a lot more difficult etc - but remember we just follow - not ever lead - thats easier ;-))

Just check any FX pair any day of the week or year.

There will always be interim levels - highs and lows

The trick is reading them - just like when Messi "nutmegs" one of his opponents - a big skill - with just a bit of luck




Regards


F

 

[Forexmospherian]

EU

3 50 PM

Now its a question if 1335/ 40 support area will hold ?

It gone over 30 mins but now needs to see above 62 and 66 to stay with any scalp buys

Remember under 1320 gives a LH and LL set up - but knowing the market - it could tease down to say 1309 if it goes under 1330 and then turn up and still stay in a intraday bull bias and go up 100+ pips again

The game does get more readable over time

EU

4 03 pm

just got 69 now

 

[Pat Riley]

Major Magnum was as suspicious as you are -

I'm not at all suspicious sir. I have no reason ta doubt your claims. Which is why I took the unprecedented step (for my firm) in offering you an opportunity, if you remember, to come and show us how to do it.

 

[DowJones]

...If the brokers raised spreads to 4 or 7 pips - that would make it a lot more difficult etc...

F, by "a lot more difficult" I'm assuming (hoping) you mean mathematically impossible (on a consistent basis)?

 

[Forexmospherian]

EU

4 03 pm

just got 69 now

EU

4 17 pm

I hope you were as suspicious as I was with that last high at 1369 being at 4 01 pm,

I exited at 1361/2 - but did not scalp sell - mistake - should have done

The key now is staying above 1340 -42

Under there and 33 - stay selling to next lower support

If we stay above 1340 - then to hold scalp buys on longer - we would need above 1374

GL - see you later guys

 

[Forexmospherian]

F, by "a lot more difficult" I'm assuming (hoping) you mean mathematically impossible (on a consistent basis)?

It would change the ball game - for example on the GJ - even with a 4 or 5 pip spread - you can intraday trade it - simply because the moves are generally that good

ie the AU might move say 12 pips in 15 mins - whilst GJ might do 40 pips in same time

But if the spread on the UJ and AU went up to 4 pips - then I would after to completely adapt to another style - ie miss out so many scalps of just 5 -7 pips

I would not know whether it would be mathematically impossible - but for sure would not be so profitable and would require a different intraday style - along with larger stop sizes on these pairs

Regards


F

 

[DowJones]

...for example on the GJ - even with a 4 or 5 pip spread - you can intraday trade it - simply because the moves are generally that good...F

F, you need a better broker
Check this GJ spread from 30 secs ago: 0.9 pip (assuming you wanna get 1 mil away at vwap, you'd pay slightly more: 1.1 pip)
Anyway, have fun.

 

[Forexmospherian]

F, you need a better broker
Check this GJ spread from 30 secs ago: 0.9 pip (assuming you wanna get 1 mil away at vwap, you'd pay slightly more: 1.1 pip)
Anyway, have fun.

Amazing

Saying that just been watching GJ for last 5 mins - and even FXPro went as low as 1.7 pips on it - normally they are 3 to 4 pips on this pair

Even the EU is 0 4 to 0 6 pip spread atm whilst it fairly flat

Just out of interest - it was not LMAX was it ?

 

[MajorMagnuM]

Which is why some time back I suggested scalping, as the term is used here, is almost impossible on a retail platform for precisely those reasons.

Professional scalping is a combination of massive size, for miniscule fractions of a point and most importantly, for close to zero cost. It typically involves crossing the spread or occasionally (though rarely in forex) slow arbitrage or by outright directional plays (what you lot are doing) but only by having access to order flow info, which I'm fairly certain you don't or you would certainly have mentioned that as it would be key.

For those following Mr. F's methods I don't think there are many that will be able to emulate his apparent performance which I suspect even he himself must attribute primarily to an inordinate amount of good luck.

And before MajorMagnum comes by to tell me to feck off again, this is something I have some knowledge of sir.

I have no order flow info. I f i did , i would not be able to understand it. It does seem that its possible to detect changes in order flow.

 

[Forexmospherian]

I have no order flow info. I f i did , i would not be able to understand it. It does seem that its possible to detect changes in order flow.

Hi MM

Hows it been going on a boring Monday ??

UChf still wants higher atm - meaning EU should fall - BUT - its got decent interim supports at 1335 / 40 area - so can it breach under ??

 

[DowJones]

Just out of interest - it was not LMAX was it ?

Yeah, the screenshot's from an API connecting to LMAX exchange.

 

[MajorMagnuM]

Hi MM

Hows it been going on a boring Monday ??

UChf still wants higher atm - meaning EU should fall - BUT - its got decent interim supports at 1335 / 40 area - so can it breach under ??

well, looking at h4 ps is saying 80 pips lower but thats fortune telling. currently flat

 

[Forexmospherian]

well, looking at h4 ps is saying 80 pips lower but thats fortune telling. currently flat

Remember low on Friday being 1320 - well anything under 1320 is then a LH and LL game

Thing is though - the market might tease under 1320 to say 1315 or 09 etc - just to get bears in - before frying them again

Under 1300 and 1280 - yes - would think in a down mode for a bit with bounces staying under 1380 or 1400 then

But as you say - Fortune telling for us - stay with the "now" ;-)

 

[Forexmospherian]

EU

5 25 pm

Needs to stay under 1351 /52 to sell again

 

[Forexmospherian]

Question

EU

is 1331/2 the new interim low for now ????

 

[Forexmospherian]

Question

EU

is 1331/2 the new interim low for now ????

So far - its held 30 mins and the bounce made 1358

5 50 pm - Tea time for me

Will pop back later - basically finished for day - but interested still on the next plan

GL

 

[MajorMagnuM]

Which is why some time back I suggested scalping, as the term is used here, is almost impossible on a retail platform for precisely those reasons.

Professional scalping is a combination of massive size, for miniscule fractions of a point and most importantly, for close to zero cost. It typically involves crossing the spread or occasionally (though rarely in forex) slow arbitrage or by outright directional plays (what you lot are doing) but only by having access to order flow info, which I'm fairly certain you don't or you would certainly have mentioned that as it would be key.

For those following Mr. F's methods I don't think there are many that will be able to emulate his apparent performance which I suspect even he himself must attribute primarily to an inordinate amount of good luck.

And before MajorMagnum comes by to tell me to feck off again, this is something I have some knowledge of sir.

more inordinately good luck. open rems attached

 

[Forexmospherian]

So far - its held 30 mins and the bounce made 1358

5 50 pm - Tea time for me

Will pop back later - basically finished for day - but interested still on the next plan

GL

7 03 pm

EU

1358 lasted well over 30 mins and then after 6 39 pm the drop was started .

Now below Fridays Low at 1310 and still trying lower atm

Bounces staying under 1321 still sells atm

Finished now completely today

I hope its been a good one for all followers etc

Regards

F

As normal in morning

 

[Forexmospherian]

more inordinately good luck. open rems attached

LOL

 

[MajorMagnuM]

m10 attached