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

[Geofract]

I caught a little bit of the move up from 73, not elegant though I shan't post my balance for the day, don't want to embarrass myself too much lol

Patience and practice, and learn when to sit on hands... that's my mantra!

 

[NVP]

back later ..........a few calls to make

 

[Forexmospherian]

EU

3 45 pm

now 1397 high for now

Pullbacks or scalp sell under 1400 are buys again if they stay over 81/ 82

Over 1405 and 10 more scalp buys

 

[NVP]

I caught a little bit of the move up from 73, not elegant though I shan't post my balance for the day, don't want to embarrass myself too much lol

Patience and practice, and learn when to sit on hands... that's my mantra!

if your pips up then that's all we need
if you are b/e then that's good for a monday
if you re pips down then work in progress

that's it
N

 

[Geofract]

if your pips up then that's all we need
if you are b/e then that's good for a monday
if you re pips down then work in progress

that's it
N

It's work in progress N!

 

[NVP]

usd is bear ...........its official on my indicators so it must be true :whistling

and uchf mullering the opposition

 

[Forexmospherian]

I caught a little bit of the move up from 73, not elegant though I shan't post my balance for the day, don't want to embarrass myself too much lol

Patience and practice, and learn when to sit on hands... that's my mantra!

I remember some days Major M telling me when he was on demo - he was at times having trouble getting a 35% + win ratio - ie his timing was not on

After a few more hundred scalps and more study - that changed and now he worries if he goes under 80% win rate

I cannot remember what I went through at start - but I can remember thinking then - thank goodness I am using a demo account before i had faith over 12 years ago to go live scalping

 

[NVP]

ok i must make these damn calls......GRRRRRRRRRRR

 

[Forexmospherian]

Out at 4 00 pm

Will be back before 4 40 pm - I hope

See you later guys


GL

 

[NVP]

I remember some days Major M telling me when he was on demo - he at time was at times having trouble getting a 35% + win ratio - ie his timing was not on

After a few more hundred scalps and more study - that changed and now he worries if he goes under 80% win rate

I cannot remember what I went through at start - but I can remember thinking then - thank goodness I am using a demo account before i had faith over 12 years ago to go live scalping

but all please remember ..............in my experience demo's can make you look very good once you crack that breakthough.............

live is where it counts and i remember struggling a lot initially on stop levels and entries ..........it was much always easier on demos ....so again don't be fooled by a lot of these experts selling you stuff as demo trading is easy once you have a decent system in place to trade ...........

however if you cant make money on demo then its really WIP for new traders...........

N

 

[Forexmospherian]

Cut off on EU buys is now 1388/90 area#

Above there on pullbacks - still really a buy

GL - see you later

 

[Forexmospherian]

but all please remember ..............in my experience demo's can make you look very good once you crack that breakthough.............

live is where it counts and i remember struggling a lot initially on stop levels and entries ..........it was much always easier on demos ....so again don't be fooled by a lot of these experts selling you stuff as demo trading is easy once you have a decent system in place to trade ...........

however if you cant make money on demo then its really WIP for new traders...........

N

Agree with N

You need to get on to live asap when you know you have cracked it - even micro lots to test your emotions etc etc

 

[Geofract]

I remember some days Major M telling me when he was on demo - he was at times having trouble getting a 35% + win ratio - ie his timing was not on

After a few more hundred scalps and more study - that changed and now he worries if he goes under 80% win rate

I cannot remember what I went through at start - but I can remember thinking then - thank goodness I am using a demo account before i had faith over 12 years ago to go live scalping

That was an impressive turnaround for MM, but shows it can pay off in time. But that's great to know it can be done, by both you and MM.

What made you stick with it F - I imagine you went through spells of wanting to give in from time to time. I know I have too, but I keeping getting back on the horse. I must be stubborn.

 

[Forexmospherian]

4 35 pm

Just popping back in to check EU and EJ

EJ been great for me above 139 80 and 90 - now made a 140 61 high and missed good exit for me 30% stake - but will move stop in profit up to 140 31 now

EU cannot make over 1410 for now and taken out my 30% stake buy already - but stop was in profit

Still got to go to EMA - but now after 5 45 pm - thats suits me better ;-)

 

[Forexmospherian]

That was an impressive turnaround for MM, but shows it can pay off in time. But that's great to know it can be done, by both you and MM.

What made you stick with it F - I imagine you went through spells of wanting to give in from time to time. I know I have too, but I keeping getting back on the horse. I must be stubborn.

In first 5 years part time - many times I thought - shall I carry on or not.#

Then after taking the plunge to go FT - I never looked back although did have a rough 6 months period that stopped me progressing with a lot larger stake sizes

Last 5 year - slowly got better - but maybe peaked in last 6 months - no longer finding more new "edges" to incorporate into my system etc etc

Accept you can never be 100% correct - be happy with 65- 80% win ratios - and multi trade at least 10 + trades a day with tight stops and let winners run and losses - get out super super quick - you can aways re enter if your timing was not spot on - and losing twice say 2 or 4 pips is repaid if your winning third trade makes 15 - 25 + pips


See you later


Regards


F

 

[NVP]

jees that usd has been resilient today ..............about 12.30 BST was her last big bear push then since 14.00 BST (13.00 on gmt chart) shes been hauling major butt north

chart 2 shows who did what........brown cad was solid sell since usd rose again orange aud fell ........and blue euro got weak more recently

N

 

[Geofract]

F, can I clarify, you define a BTTZ when price is ranging within the extremes of a previous M30 candle? Pretty much where price prints and inside bar I guess.

 

[Geofract]

Back to H1 TL for EU then.



If I was trading more than 1 pair right now, AU could have been great today - looks so much tidier.

Thanks F & N for all the advice and comradery today.

Till the morrow.

G

 

[Forexmospherian]

F, can I clarify, you define a BTTZ when price is ranging within the extremes of a previous M30 candle? Pretty much where price prints and inside bar I guess.

View attachment 192550

Hi G

Yes - its like a 30 min inside bar that is normally under 15 pips.

You have shown some good example on your EU chart.

Any 30 min candle/ bars over say 15 -20+ pips is normally scalpable - ie from say 7 00 am EO time to 5 pm LC time - ie 10 hrs - 20 x 30 min candles - maybe be 10 -15 candles are easily scalp trades - whereas there will be anything from 4 to 8 x 30 min candles that maybe drift in and out of BTTZ and are difficult to trade - other than for 3 - 7 pips - which really is only acceptable and not a preferred short term intraday trade

Normal FX teachers would say it uncertainty in the market - which it is ( inside bar ) - helped by manipulation to balance levels - to enable the market to get traders to take wrong direction new trades.

The full bodies candle maybe are more readable - but the doji's and long wicked candles are normally the ones with the "tricks" being played- normally a false set up and wrong direction.

If you did not want to scalp then yes using a 15 or 30 min chart is OK - but you then have to have larger stop sizes - maybe 15 -20 pips and then unless you catch a nice rally - your 20 pips move is not a RR of 3 or 4 - but maybe only 1 or 2 - so your profits and gains will not be so much in terms of gains on capital

See you in the morning

Hopefully around 6 15 am to 7 40 am and then after 8 40 am to 10 30 - 11 am - and then in and out rest of day

Regards


F

 

[Forexmospherian]

Back to H1 TL for EU then.

View attachment 192552

If I was trading more than 1 pair right now, AU could have been great today - looks so much tidier.

Thanks F & N for all the advice and comradery today.

Till the morrow.

G

Agree with you AU was fairly easy today and stayed under its LitS area all day for mainly sells