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

[Fugazsy]

hey F .....................that's the crux of it above and where most traders do not focus their efforts

most of us are chasing momentum plays and getting killed most of the time.......momentum plays by definition have missed at least 30% of the move already (and of course much higher %'s than that on ranging markets )

if you can pick off those price points you can then set up some trailing moves and make major returns with minimum effort

N

N

If I may say......

Momentum is one of the best tool in trading and I am referring to momentum by reading pure PA, look what happened to AU: momentum up and pull back to the ema and a magnetic level and she went up another nice leg....making at least 3 times the risk.....

But one has to have to ability distinguish momentums....also GU went up but just to fell into range.....

 

[Forexmospherian]

YEah and I sold the wedge top and took only 30 pip out of it. Again exited early. Afraid the 5 min 20 ema might hold

I would not grumble at getting 30 pips though - thats fine and OK - any positive pips are good - but I know what you mean

Remember though - part stakes and stops in profit if you think theres a lot more in a run

Main objective is always to make money - profit - day in day out - contra to what the commercial bodies might say - then after that - its the fine tuning to try and make a daily target - whether its just 20 pips or 50 pips or 100 pips .

Some PRO's would far soon catch 20 pips a day at 5 or 10 lots than make 100 pips a day at just $5 or $10 - so never worry about the big pip numbers - just go what you feel comfortable with etc etc

 

[Forexmospherian]

Hi Fugazsy

Hope you have had a good session so far - EU and GU both had some nice moves etc

Regards

F

 

[Forexmospherian]

GU
10 51 am

For ultra quick scalpers 5463 was a scalp sell now

Not chasing just 3-7 pips though

GU

11 02 am

The scalp pullback was worth 8 pips or so - but the bias was still up and now at the hr we have carried on above 65 and 70 +

My cuts off on buys etc would be about 61/62 - above there favours more buys on pullbacks to interim R's again stop it

 

[Forexmospherian]

EU

11 04 m

1290 / 95 is trying to hold atm

Not gone over 30 mins since low printed though - but watching to see if it does

 

[Fugazsy]

I would not grumble at getting 30 pips though - thats fine and OK - any positive pips are good - but I know what you mean

Remember though - part stakes and stops in profit if you think theres a lot more in a run

Main objective is always to make money - profit - day in day out - contra to what the commercial bodies might say - then after that - its the fine tuning to try and make a daily target - whether its just 20 pips or 50 pips or 100 pips .

Some PRO's would far soon catch 20 pips a day at 5 or 10 lots than make 100 pips a day at just $5 or $10 - so never worry about the big pip numbers - just go what you feel comfortable with etc etc

good post.

 

[Forexmospherian]

We need bounce over 1319 and 24 to stay with any scalp buys taken above 92 / 95

Under 1285 and 80 would be more sells again

 

[Forexmospherian]

good post.

Cheers Fugazsy - we are in it to make money - and therefore what ever we are prepared to risk to make some bucks is individual to us.

Some guys are delighted with $200 a day - other think anything under $2000 a day is not worth it - but what ever we make we must remind ourselves - we are lucky - 75 -80% + of all retail traders lose more than they win - and that's always got to stay in the back of our minds etc

Regards


F

 

[Fugazsy]

Hi Fugazsy

Hope you have had a good session so far - EU and GU both had some nice moves etc

Regards

F

F

yes faded EU @ Franky and GU at his top @ LO, also shorted EJ... I should have stayed more with her but I think fear kicked in and covered only with +10......anyway leaning everyday...

EA and EC with AU and NU acted very smoothly, I did not trade them but I am looking to trade them because some day they perform very well...

 

[Forexmospherian]

GU

10 50 am

It was another scalp buy from 10 30 am

Unfortunately not here to catch it - and have not jumped in on for now

Pullbacks above 49 are still buys - but we need over 65 and 70 next to stay then with buys

GU

11 02 am

The scalp pullback was worth 8 pips or so - but the bias was still up and now at the hr we have carried on above 65 and 70 +

My cuts off on buys etc would be about 61/62 - above there favours more buys on pullbacks to interim R's again stop it

GU

11 12 pm

So far 5487/8

so a 45 pip + rise from 10 30 am - and I managed to grab 22 pips out of it so not bad

Moved 30% stop up to 65 - if I get stopped out - still a nice profit in it

 

[Forexmospherian]

GU

exited 30% stake buy at 76 - and cancelled stop

It looks a strong sell under 80 so playing safe

 

[Forexmospherian]

I think any sells need under 61 and 52 to stay with them for a larger move down

If we stay above both then will look for another scalp buy on GU

 

[Forexmospherian]

EU low so far held 20 mins or so - but in range so not scalp buying or selling it atm

 

[Fugazsy]

Cheers Fugazsy - we are in it to make money - and therefore what ever we are prepared to risk to make some bucks is individual to us.

Some guys are delighted with $200 a day - other think anything under $2000 a day is not worth it - but what ever we make we must remind ourselves - we are lucky - 75 -80% + of all retail traders lose more than they win - and that's always got to stay in the back of our minds etc

Regards


F

Sure.

I think money is not an issue.....a trader need to find continuity in her performance and only then she can decide to increase numbers of trades or volume based on what reflect best for her personality.....

 

[Forexmospherian]

EJ

7 10 am - update and summary review

A very large fall in the Asian session - ie a drop of approx 190 pips down to the 138 65 / 70 area

Because of this its no longer in sync with the EU - instead like the UJ with yen strength taking them down I imagine.

My EJ line in the sand PS area is about 139 70 - 90 area - ie so even 100 pip rallies back up are still in a bearish PS for the AM intraday session

Above 139 00 and 25 I can hold scalp buys on for tries up - but would then still look for sells again - unless we make over 139 70 etc and then pullbacks may stay above 139 40 / 50 area and a turn in PS might be on

Under 139 00 and 138 60 and 50 favours more price falls for now

EJ

update over 4 hrs from comment above

It did bounce up approx 80 pips and then fell again approx 80 pips as stayed under line in the sand PS

Now stills needs under 138 55 and 50 to sell more and back above 139 05 to be holding scalp buys on again

 

[Forexmospherian]

EU

11 25 am

In the tease atm

Near 30 mins - no low breach - but still looks as if it want lower

Could even be a double whammy next with both bulls and bears tricked - so be careful on this pair- wait for proper 10 + pip breaks either way - and then watch for spikes

 

[Forexmospherian]

11 32 am

EU and GU last 5 mins have been both in scalp buys

I would not recommend it on EU unless you are a scalper - but GU was easier with better PA

 

[iroukis]

what happened now?

 

[Forexmospherian]

11 38 / 39 am - the "play" started

Out of scalps and will wait for more clarity

 

[Forexmospherian]

EU

11 25 am

In the tease atm

Near 30 mins - no low breach - but still looks as if it want lower

Could even be a double whammy next with both bulls and bears tricked - so be careful on this pair- wait for proper 10 + pip breaks either way - and then watch for spikes

Thats the double whammy for short term intraday traders