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

[MajorMagnuM]

Chart below is Major M's from after 7 00 pm Friday Evening

I had finished early on and so was not trading after 7pm - but checked my charts out to see how the set ups compared with MM's TLs and levels etc

This is my LR chart on the same 1 min chart with 4 trade example - 2 buys and 2 sells - all from Key Times - needed to see if my set up agree with the TW's and they did - making them nice intraday trades - all 4 being worth over 85 pips - all being trades with RR's over 3 +

yes indeed. i was only showing one aspect of your method F. beautiful charts for end of the week.

 

[Sir Gissachance]

well i m getting better or am just on a roll according to some! But thankyou for the sentiment expressed, it good ballast for an empty stomach!
my longer term charts are not a part of the method F expounds on this thread. its old stuff i used to use and cant help it creeping back in. to be clear tho, i only use them to develop an understanding of how to hold remainders i take on m1 for the maximum time. If i can become successful in combining both it may mean many more pips from remainder trades taken initially as a scalp for 7 to 25 pips. i have no doubt that F is expert in these methods on longer term charts, but i know he must have evaluaed them as time inefficient and limited in their potential to generate super normal levels of profit. I notice Sir G uses longer charts clearly more than F, but i suspect he does not use tradtional methods when looking at them. I see he uses patterns but there must be more to his approach as i cant believe he gets great results from standard approaches.

Dear MajorMagnum,

Great charts and wonderful Trading.

Naturally I do use a technique which is not widely known nor understood. i.e. T.W.M.P.A.S.T.S.A.S. You can certainly find plenty of clues in my blog posts and youtube videos across the internet. It must be said though, you can give a bad trader a great strat and he will ruin the trading plan and then pass on the details to others, box it and sell it on ebay for 9.99 but on the rev, you can also give a great trader a bad strat and he will make it work and keep it, that is the difference. Quite often I find Tick charts far too slow and am considering reading the blink/quote panel as this is 1/10th of a second faster for the mind. Both Forexmospherian and I make plenty of pips using different strategies while in places using similar. So beauty really is in the minds eye of the beholder and so make sure you hold what is true for you. After all, Trading is about Y.O.U. and nobody else.

Best Regards,
Sir Gissachance (PPND)

 

[Sir Gissachance]

Scholfield is correct

You are taking my intraday method up another level - by combining scalps with swing planning and positional stuff

Sir G is a master FX trader - mainly because he's been doing it for over 2 decades

I just focus on intraday and if I get a lucky 30% stake with stop in profit that runs for 2 days or 2 weeks or even 2 months - then I am delighted - but would also scalp both ways whilst it was still following a particular direction

Keep it up MM

Dear Forexmospherian,

Well done and excellent trading by you and the others here too. I must say there's more sound judgement, experience and skill in your trading than any amount of luck but understand the sentiment of the word used in the context of above. Brilliant Trading as always dear fellow.
Sadly, I have to admit its over 3 Decades now.

Have a great weekend everyone.

Best Regards,
Sir Gissachance (PPND)

 

[NVP]

the last few posts here should be read and absorbed by all traders wanting to last the course and make money long term ........

there are many many ways to trade profitably ..................with research and practice and diligence anyone with the stamina and perseverance will find their own individual path ...........

but it aint easy and the road is littered with bodies............that's why few succeed and even fewer continue to succeed....


one day I might get there but still WIP

N

 

[Forexmospherian]

What am I doing scalping the EU and EJ on a Sunday evening ??

Its just been so readable - but 11 00 pm - scalp buys - I could not resist - although on lower than normal stakes

See you in the morning

Regards


F

 

[Forexmospherian]

Monday 15th June 2015 - Pre Opens

Good Morning Guys

I hope you have enjoyed your weekend and are ready for another busy trading week ( we hope )

Yes - I have started - and if you have been following this thread for more than a month - you should know what time I might have taken my first scalp sell ( or sells) and on what pairs ;-)

Normal stuff ie quick reviews for Intraday along with levels and bias and then calls on possible intraday trades ranging from 7 -25+ pips all from tight stops of approx 5 pips . I don't call every scalp - sometimes they might only last 1 to 4 mins and by the time you would see it on the thread - it could be finished if it only makes less than 7 pips.

All Intraday FX contributions etc - ie charts - trade ideas / calls - questions - etc etc are welcome - the more that join in the better - especially when I am not around or on breaks . Although I am Full Time - some days I might only cover 4 or 5 hrs of a daily trade window of approx 10 -12 hrs - other busy days - I might just have a few 15 -30 min breaks and put in 6 -8 hrs etc .

My favourite hours are just after 6 00 am UK time to approx 9 30 - 10 00 am

11 30 am to say 2 00 am and then 2 30 pm to 4 30 - 5 00 pm .

Rarely do I trade after London Close - exceptions included late US news or important events - and of course if I have some 30% stakes on with stops in profit that are over say 50 + pips - then I will check them before the US close

Have a great day - and week

Good Trading

Regards

F

 

[Forexmospherian]

EU

6 43 am

My so called "line in the sand" area ( LitS) for session PS and bias is 1225 -35

Price below favour lower and sells - prices above the LitS favour higher and buys.

The LitS level is dynamic and changes through out the session - all depending on price movements etc

First scalp of the morning was at 6 21/ 22 am at 1208 and it was a sell along with the EJ and I took 9 pips off it and left nothing on

R interim levels at 1211-15 - 1220 - 1240 - 1280 etc

Supports at 1200 - 1190 - 1175/80 - 1160 etc

 

[Forexmospherian]

GU

6 49 am

I did not scalp sell this pair at 6 21 am ish - I could have but preferred EU and EJ

LitS for PS bias for morning session is at 5565 - 75 ish

Price above favour higher and buys and below both favours lower and sells

R's above at 5570 - 85 - 5600 etc

Interim supports at 5522/30 - then 5500/10 and then 5480 ish

Price now at 6 49 am is 5535

 

[Forexmospherian]

EJ

6 54am

LitS at approx 138 50 - 60 area

R's at 138 85/95 and then 139 20 - 30 and 37/40

Interim supports at 138 25 - 138 10 ish - 138 00

I scalp sold it at 6 21 am at 138 37 and exited with 8 pips and have also sold it again at 138 35 at 6 50 am

 

[Forexmospherian]

EJ

6 55 am

Just as a tip - stick a down TL on it from 138 51/2 down to 36 and extrapolate - as another dynamic LitS besides horizontal levels

 

[Forexmospherian]

Be careful at exactly 7 00 am and EO for spikes

Also no major red news this morning - first on at 1 30 pm UK time

 

[Forexmospherian]

UChf

7 05 am

LitS at 9290 to 9300

As you might guess with the EU being in a bearish session PS under its LitS then the UChf is in a bullish one for now with price at 9329 ish

R's at 9340 and 9355/60 for a start

Interim supports at 9300 and 9270 ish

I dont trade this pair every day - but I like its negative / opposite correlation with the EU - an so its good to keep an eye on it for additional clues - and if you can get a 30% stake on it with stops in profit on a busy day - then that all helps

 

[Forexmospherian]

UJ

7 09 am

LitS at 123 35 - 40 area

Price atm at 123 43 ish

R levels at 123 55/60 then 75/80

Supports at 123 30 and 123 15 ish and then 123 00 area

It as been a scalp sell since after 6 51 am - but not in it as focused more on EU and EJ for scalping

 

[Forexmospherian]

EJ

7 12am

Low so far 138 14 and I am out 70% of the scalp sell at 18/19

will stick a stop in profit at 32/3 - tight - but lets see if it can drop again under 14

 

[Forexmospherian]

EJ

Taken out on 30% stop in profit - looks like scalp buys after the EO at 7 03 am on EU and EJ are stronger than just 5 -7 pip moves for now

 

[Forexmospherian]

7 15 am

Time to check all interim new highs and lows for 30 min rules etc

Still wanting to sell the EU and EJ again - but if no lows made in under 30 mins from last lows in this hour - then turns might be trying to be made and then I am not just going to keep selling

 

[Forexmospherian]

GU

6 49 am

I did not scalp sell this pair at 6 21 am ish - I could have but preferred EU and EJ

LitS for PS bias for morning session is at 5565 - 75 ish

Price above favour higher and buys and below both favours lower and sells

R's above at 5570 - 85 - 5600 etc

Interim supports at 5522/30 - then 5500/10 and then 5480 ish

Price now at 6 49 am is 5535

GU

7 26 am

5525/6 held it and it was a scalp buy after 6 58 am and 7 09 am - end of hr TW

So far made 5552 - so still under LitS

However 30 min rule on last low prior to 7 00 am as held for 30 mins

So in theory - pullbacks in next 15 -20 mins are still buys again - but we then need over the LitS area

 

[Forexmospherian]

UJ

7 09 am

LitS at 123 35 - 40 area

Price atm at 123 43 ish

R levels at 123 55/60 then 75/80

Supports at 123 30 and 123 15 ish and then 123 00 area

It as been a scalp sell since after 6 51 am - but not in it as focused more on EU and EJ for scalping

UJ

7 37 am

Did not initially take scalp sell - but jumped in under 123 43 for 7 pips

We need under 35 and 29 to look at more scalp sells - otherwise still above the LitS level for now

 

[Forexmospherian]

GU

7 26 am

5525/6 held it and it was a scalp buy after 6 58 am and 7 09 am - end of hr TW

So far made 5552 - so still under LitS

However 30 min rule on last low prior to 7 00 am as held for 30 mins

So in theory - pullbacks in next 15 -20 mins are still buys again - but we then need over the LitS area

7 45am


Price now dropped to 5536 - still above last low - but now in next 10 -15 mins according to time rules - it could try and go under it again as after 50 -60 mins levels can be breached again if not breached in first 30 mins - thats of course if it want lower

The 5552/3 high as last over 20 mins - so we could end up with a BTTZ tease zone next

 

[Forexmospherian]

GU

7 49 am

Makes another low at 5524 and bounces staying under 40 - should be sells again next