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

[NVP]

If you check out MM's results - hes very consistent with a win ratio normally over 80% on multi trades

With me I rarely do over 20 scalps a day - and I can some days have say 5 bad trades - and still do 150 + pips - and then other days - i might just have 2 bad trades and struggle to make 70 pips


I make sure I am out poor trades ASAP and then try and let runners go with 30% stakes and stops in profits etc etc

It will come - but its a chore and a slog - but as you are fully aware - its all possible ;-)

one of the interesting things is to watch the markets day in day out ........perhaps focus on a particular pair............and see just how many pips you do need to be able to handle the retrace action when you do decide to enter ...

you need deep pockets to handle many of the good moves (ie the inevitable retraces) .......even after getting a good leg in off of your intital entry

and remember if you are momentum trading this is even worse ..........as you are already significantly into a move with pips being accumulated BEFORE you enter ......in effect by delaying you are running out of "runway" pips before the trade turns against you

Normally as you enter - right ? !!!

on a choppy day this can cause a lot of losses ..and huge amounts of experience and practice are needed to make money

watch F and MM..........they are looking for early entries off of the bounce .................that means minimum delays and maximum possiblilities for further pips ..........its hard but the best way to trade :smart:

N

 

[Forexmospherian]

GU as been on steroids I reckon

 

[Forexmospherian]

one of the interesting things is to watch the markets ........perhaps a particular pair............and see just how many pips you do need to be able to handle the action when you do decide to enter ...

you need deep pockets to handle many .......even after getting a good leg in off of your intital entry

on a choppy day this can cause a lot of losses ..and huge amounts of experience and practice are needed to make money

N

I put that down to the market makers - or players etc - stop hunting continually - and i dont mean like spreadbetting brokers trying to move it 5 pips - but the big boys can make the 30 -50 pip moves to ruin the rest and tip the tables up

It must be so frustrating for a newbie swing trader to be up say 39 pips with target of 50 pips and the the market stops him out for 25 or 30 pips

Its more than a kick in the nuts - its psycho harming - and its all done deliberately as far as I am concerned

But thats not going to catch me or you out N -

 

[Geofract]

yes hard work today

Hard work maybe, but looks like good work too!

 

[NVP]

1.15pm was a nice retrace south on the USD .........but I have been attacking the buys in last few hours

 

[Geofract]

+27 so far - demo...



Even on the demo I trade small positions - big numbers make me nervous

Gonna find some lunch.

 

[MajorMagnuM]

+27 so far - demo...

View attachment 192300

Even on the demo I trade small positions - big numbers make me nervous

Gonna find some lunch.

fx cm? what are spreads like since their change?

 

[Forexmospherian]

I think the keys are

1 multi trading method - I mean not just 3 or 5 trades a day - but ideally 10 to 30 trades over say 5 -8 hrs

2. Targets - 7 -25+ pips and stops in profit on runners - ie a win / win then

3. Stops 3 -7 pips - but dont rely or use them - get out minus 2 or breakeven and re enter if it goes your way

4. No real bias - ie think - anything could happen - normally it does

5. Have targets and know when 3 or 4 bad trades in a row - stop for 30 -60 mins

6. Every 500 trades - you should get better

7. Dont lose more than 30% of your winnings - so if up $500 - you only have $150 max to carry on with in session

8, Never have a losing day - and if you do - ask yourself why ??? not enough winners or lack of time ??


Theres loads more - but the above works - ask MM

 

[Geofract]

fx cm? what are spreads like since their change?

Yes, FXCM. On EU it's usually around .2-.4 except for news time.

 

[Forexmospherian]

EJ

1 55 pm

Not looking so good now

Needs under 139 10 and 00 to carry on with sells but under 28 /30 now another sell

Need back over 35 and 50 to be holding scalp buys on longer

 

[Geofract]

Arguable M1 flag thing - perhaps a little early to say - I wonder if 1.1320 will go soon.

 

[Forexmospherian]

GU

2 00 pm

5875 - 90 is loads of R

We have made 76 so far

Pullbacks staying above 55 / 60 are still possible scalp buys again - but to crack above 80 /90 could be difficults

 

[MajorMagnuM]

Yes, FXCM. On EU it's usually around .2-.4 except for news time.

shock. used to be 2.7 eu

 

[Forexmospherian]

Arguable M1 flag thing - perhaps a little early to say - I wonder if 1.1320 will go soon.

View attachment 192304

I got 22 then at 1 57/ 58 - a scalp sell early before hr change

 

[NVP]

I put that down to the market makers - or players etc - stop hunting continually - and i dont mean like spreadbetting brokers trying to move it 5 pips - but the big boys can make the 30 -50 pip moves to ruin the rest and tip the tables up

It must be so frustrating for a newbie swing trader to be up say 39 pips with target of 50 pips and the the market stops him out for 25 or 30 pips

Its more than a kick in the nuts - its psycho harming - and its all done deliberately as far as I am concerned

But thats not going to catch me or you out N -

anyone sitting and being fixed on such targets is crazy ..........the market is always dynamic as F tells us.............even 3-5 pips is tough enough to predict ...............let alone 50 !!!!

think of trading like driving on a darkened road ........all you can see is as far as the headlights .........any further is a complete mystery and not worth worrying about till you get nearer :smart:

n

 

[Geofract]

shock. used to be 2.7 eu

There are comms though. Can't remember the calc of hand. It still works out better than Oanda or ETX, the only other brokers i have used.

 

[Forexmospherian]

EU

2 03 pm

It was a lower high at 22 from previous at 1324 - but only LL if under 96 and 90

so maybe next scalp buy - might try up over 1320 again if we can make them above 1300

Under 1296 and 1290 does look like test then to 1280

 

[Forexmospherian]

anyone sitting and being fixed on such targets is crazy ..........the market is always dynamic as F tells us.............even 3-5 pips is tough enough to predict ...............let alone 50 !!!!

think of trading like driving on a darkened road ........all you can see is as far as the headlights .........any further is a complete mystery and not worth worrying about till you get nearer :smart:

n

Good analogy - driving in the dark and unknown - with not knowing what around the bend etc etc

We can still try for the 50 - 500 + pips - but only with stops in profit - then no worry or bad emotions - even if you dont get your target - you dont lose ;-)

 

[NVP]

shock. used to be 2.7 eu

as weve discussed before MM..........I've been with lmax for a while now but not impressed recently ......heres FXCM UK at moment .........not bad

but can swing naturally

N

 

[Forexmospherian]

Yen crosses

UJ now under its LitS area and also yen strength is pulling EJ down