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

[iroukis]

GU

Whilst the EU as been falling - the GU as stopped and as been trying to turn back up above 5435

Its needs above 55 to stay with any scalp buys and under 33 and 27 then look more for sells - as falls would be continuing again

I see this range on a tick chart

 

[Forexmospherian]

was looking at chfjpy, she moved after the BO

Not a pair I normally touch ( spreads)- but notice a large fall after 9 00 am UK time - which married up with Yen strength coming in on EJ and UJ - taking them down as well

GL with it

 

[Forexmospherian]

Busy last 20 mins

Need to take stock etc again ready for next TW at half hr

Back in 10 mins

 

[Forexmospherian]

I see this range on a tick chart

This is were my LR structure on 1 min and time rules give me extra edges over traditional TA

PA on its own not enough

Time on its own not enough

But Time / PA and PS from last low - all gives me my clues for the buys above 35

Just tested 58 so far

 

[Forexmospherian]

GU

9 17 am

last high 5458

Pullbacks or scalp sells staying above 43 are scalp buys again

To hold sells on we need under 5438 and 28

 

[Forexmospherian]

Busy last 20 mins

Need to take stock etc again ready for next TW at half hr

Back in 10 mins

Having break now - hope to be back just after 9 30 am

See you in abit

 

[iroukis]

This is were my LR structure on 1 min and time rules give me extra edges over traditional TA

PA on its own not enough

Time on its own not enough

But Time / PA and PS from last low - all gives me my clues for the buys above 35

Just tested 58 so far

Tottaly agree with you.
But as a wrod of warning for the newtraders, I have spend some thousend of hours trading the ES succesfully, and this ranges works pretty well for scalps of 1 point, but I never trade them as ranges on forex because 80% of the time the overshoot and don't hold. Generally I ll advice when I post a chart with some ranges the newtraders don't count on it and trade it unless you have make that kind of strategy your second "nature". I am saying this because the other time a memeber traded some S&R I had posted and thank God he didn't loose. I am counting the highs and lows and try to see if the market traped traders before I trade these lines so be carefull. I don't blindly trade them.

 

[Forexmospherian]

Tottaly agree with you.
But as a wrod of warning for the newtraders, I have spend some thousend of hours trading the ES succesfully, and this ranges works pretty well for scalps of 1 point, but I never trade them as ranges on forex because 80% of the time the overshoot and don't hold. Generally I ll advice when I post a chart with some ranges the newtraders don't count on it and trade it unless you have make that kind of strategy your second "nature". I am saying this because the other time a memeber traded some S&R I had posted and thank God he didn't loose. I am counting the highs and lows and try to see if the market traped traders before I trade these lines so be carefull. I don't blindly trade them.

I will post my 1 min LR chart on GU in a bit - and you will see the clues I was using on the rise from 35

Yes - ranges are ok etc and you are correct with the levels - its the little extra edges which can make such a difference in this game - ie the devil in the detail stuff a tick and 1 min chart can offer for short term intraday moves

 

[Forexmospherian]

EU

9 34 am#

Low so far 1240 - and its held 30 mins - another clue

on my set up 9 08 /09 am - KT was a buy from 1244/45

We really need over 1270 and 75 to hold scalp buys on - otherwise pullbacks etc and then would need anther 20 + mins to test under 1240 - thats if its going to

 

[iroukis]

I will post my 1 min LR chart on GU in a bit - and you will see the clues I was using on the rise from 35

Yes - ranges are ok etc and you are correct with the levels - its the little extra edges which can make such a difference in this game - ie the devil in the detail stuff a tick and 1 min chart can offer for short term intraday moves

Here is my LR, keep in mind that its on Fututres. But not much dieference from spot. Up untill the 180 everything alligns, for the bigger numbers nothing does.

 

[Forexmospherian]

GU - 1 Min LR Chart with scalp buy on after 8 21 and 8 51 am etc

Here is my LR, keep in mind that its on Fututres. But not much dieference from spot. Up untill the 180 everything alligns, for the bigger numbers nothing does.

Heres mine on GU

Note low

then after 8 21 am and then after 30 mins from low and 5435 etc and then up channel supported by LR's etc etc

 

[iroukis]

Heres mine on GU

Note low

then after 8 21 am and then after 30 mins from low and 5435 etc and then up channel supported by LR's etc etc

On that chart you have more levels than what u posted 15 - 25 - 45 -95 - 115 - 180 - 285 - 500 - 900. Could you when you ll find time pass me all the levels. Thank U!!!

 

[Forexmospherian]

The nice part of catching a nice short term intraday move - is the RR result

If you can get your stop under 3 pips even better - but with 4 -7 pips max still a 30+ pip move is a RR of say 5+ and off at 4 pip stop then its 7+

So 1 % stake becomes 5 or 7% + allowing you to have even 4 losses and still be in profit in worse case scenario

A 5 pip stop and 30 pip move - ie RR nearly 6 after spreads is like a swing trader having to make 250+ pips off a 40 pip stop - to end up with same result

My trade takes 30 -60 mins - a swing might take 1 to 5 days - big difference on the profit stakes - a lot more efficient

 

[NVP]

morning all

nice trading morning earlier......

as usd comes north look at how the 3 Europeans take turns to accelerate their sell phases

superb
N

 

[Forexmospherian]

On that chart you have more levels than what u posted 15 - 25 - 45 -95 - 115 - 180 - 285 - 500 - 900. Could you when you ll find time pass me all the levels. Thank U!!!

This chart is not my normal set up

This one as extra LRs on for testing reasons - I am constantly trying to improve and so add extra 2-4 LRs to see if any give me a better edge

Normally I dont like more than 9 LRs

6 LRs - not enough - over 10 or 11 LRs - to many - cherry pick the best for your preference depending if your bias is more scalp or short swing

It really is a case of trying setting and then chose best 8 or 9 for your own preference - but all between LR 9 and 900 max - mainly 30 to 500

 

[NVP]

but this is all momentum based signals you see from me ......................

my focus more recently has been on the much more lucrative style of trading that F practices

nailing the moves to within 3-5 pips max of recent hi / Lo's

deadly stuff and much more profitable
N

 

[Forexmospherian]

morning all

nice trading morning earlier......

as usd comes north look at how the 3 Europeans take turns to accelerate their sell phases

superb
N

Good Morning Neil

Another busy morning

Hope its been good for you

Have a good session

 

[NVP]

The nice part of catching a nice short term intraday move - is the RR result

If you can get your stop under 3 pips even better - but with 4 -7 pips max still a 30+ pip move is a RR of say 5+ and off at 4 pip stop then its 7+

So 1 % stake becomes 5 or 7% + allowing you to have even 4 losses and still be in profit in worse case scenario

A 5 pip stop and 30 pip move - ie RR nearly 6 after spreads is like a swing trader having to make 250+ pips off a 40 pip stop - to end up with same result

My trade takes 30 -60 mins - a swing might take 1 to 5 days - big difference on the profit stakes - a lot more efficient

agreed ..................the thing most retail traders are doing is either Breach and or momentum based signals

thats good basics .............but you are already way behind the curve ball on pips already accumulated on the trade

you can easily be 5-10 pips down before you enter ............do you realise how risky that makes the trades ?

N

 

[Forexmospherian]

but this is all momentum based signals you see from me ......................

my focus more recently has been on the much more lucrative style of trading that F practices

nailing the moves to within 3-5 pips max of recent hi / Lo's

deadly stuff and much more profitable
N

That last GU buy after low could be a RR from what 5 to 12 all depending on your entry and exit point and all within 70 - 90 mins maximum

If you managed to get say 3 or 5 buys on it at correct times - then you would have a great smile when it made over 30 pips

GL with the skill N and just 1 or 2 good ones a day and you are milking it

 

[NVP]

ive been lucky enough to read a lot of trading books over the years and many many many great traders talk about the leap they have to make to become the best ...........

many talk about this uncomfortable feeling they get when initially switching to the system that works for them

it feels ungainly and risky and against everything they have been taught by less successful traders

but that's where you have to be to become successful

if breach / momentum based trading was so great why arnt there armies of wealthy traders out there that have used these more obvious systems ?

we wouldn't have forums like this ...............or need the armies of wannabee traders selling rubbish courses and systems to wealthy professionals seeking their next conquest in life ...............

hmmmmmm
N