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

[Forexmospherian]

GU - my 30% stake now stopped out with 7 pips profit and EU breached under low

Total on GU so far this morning even after not catching 40+ pip rise with my scalp buy that was stopped out - 28 pips but with over half only on 30% stakes

 

[c6ackp]

Meanwhile up over 31 pips on the other 2 free trades left on - will move stops to lock in more of that profit

I'm still lurking F. I enjoy your commentary and insight. However, you should clarify your pip counts as it's a subject that gets the locals upset.

I'm guessing that if you take 7 pips off the first 70% and 12 pips off the remainder then you count that as 19 pips (option 1).

Purists would say the effective pip count (at full risk) is (7 x 0.7)+(12 x 0.3) = 8.5 pips (option 2).

Could you confirm that you are using option 1. I don't think it matters too much as long as it's clear which method you are using?

Thanks,
c6

 

[Forexmospherian]

EU is still in down mode under 3435 - trouble is cannot get a good entry point - were I can get my stop under 5 pips for now - so might look at selling if we dont go over 30 on any retrace

 

[Forexmospherian]

Yes - it is Option 1 - I am counting both pip counts on "free trade" - ie first number at 70% and then second 30% stake as separate number.

I agree it is a touchy subject and I have mentioned many times already in my posts that I can make more money some day with say just 60 pips - on straight trades - with no free trades working - than I do other days with 120 -150 pip totals - but with over half those pips off free trades at only 30% stakes

So pip number really do lie and really its the amount of money in the pot the most important.

My 50 pip daily target is really suppose to be base on 5 lots minimum - ie money total around $2500 cash I have even at days making over 150 pips - and still not making over $2700 cash

Many of my 30% part stakes are only at 1 or 2 lots and therefore its important to note that.

Also I have know traders have say a positive pip count of say 25 pips and still have a loss - simply because there losing pips were on larger stakes and all their winning pips that exceeded lost pips by 25 + where on stake sizes only a third or fifth of loss stake sizes

Thats why its important on free trades to have stops in profit and not at minus 5 or larger etc

Thank you for your comments and you are more than welcome to join in with your won thoughts etcetc

Meanwhile have a good day - and i hope you made more out the EA than I did as now dropped another 10 pips and no free trade left on it

Cheers

Regards

F

 

[Forexmospherian]

kicking myself on EA - but still got 30% on AU scalp buy - but so slow atm going up

 

[Forexmospherian]

10.02 am UK time - and more Pound news in this next half hr - checking time window changes now

 

[Forexmospherian]

I have missed lots of trades this morning - ie EU and EJ sells / swissy scalp buys -etc etc - but still early in the day and I don't perform always early morning as good as after Midday

If any guys spotting other pairs etc that look interesting please bring to table and lest check them out - no problem - trouble is only forex pairs - no Gold oil etc etc

 

[Forexmospherian]

Posted my EJ chart for this morning - nice fall etc - no pips off it as been in EA ./ AU and GU so far - but one I will keep an eye on next 2 hrs now

See attachment

 

[Forexmospherian]

EA - support area from 4400 to 4423 - so maybe we can get some scalp buys in next hr if price just falls a bit further - if ;-)

 

[Forexmospherian]

EJ notice low at 133,42 is coming up to 30 mins since posted - so could it be forming a support base ?

 

[Forexmospherian]

More Pound news in 5 mins

 

[Forexmospherian]

GU 2 areas of interim supports - 5913/15 and 5900 ish - staying above - should be more rises - under both - further falls

 

[Forexmospherian]

Nice - No pips claimed on quick rise - as was not in it even though we stayed above both interim supports as mentioned in last post

 

[Forexmospherian]

Gu we should stay above 5935 and 42 on any pullbacks - so if we do look for scalp buys again. I will have to wait to get an entry with a 5 pip stop or less

 

[Forexmospherian]

whilst GU was having fun - Swissy pair new high and EU another low - contrary to GU rise -

 

[Forexmospherian]

GU pullback light at moment - look at now 68 as your cut off - above scalp buys - below out and look at scalp sells

 

[Chooseyourusername]

Hi Chooseyourusername - just seen your comment - I think both ffsear -and myself know who you are - having just joined again and with only 3 posts etc etc.

A very positive way to join any forex social network site - by still having a go at the member you attacked under your previous nic.

Pretty pathetic really - So I will totally ignore answering your question and just get on with intraday trading

I wish you well and have a great trading week

Regards

F

PS - you are more than welcome to follow and ask proper forex related trading questions - if you are so keen on following me

Thanks. Being allowed to share thread space with a Expert Retail Forex Trader is undoubtably an honour. When does the virtual Ferrero Rocher tray arrive?

 

[Forexmospherian]

GU touched a new high at 6002 - so HH - need to stay above 69 - so we get a HL now

 

[Forexmospherian]

Hi Chooseyourusername - i said before I would ignore your comments unless associated with forex queries and questions etc . Well I suppose that is one

There is supposed to be world wide between one and half and two million retail forex traders

So if say 5% are experts and say half are intraday traders - thats approx two and half percent of under 2 million traders

Lets say somewhere between 30 -50000 experts around the world ? Surprises me - I have only seen or met less than a dozen - where are they all ???

I don't mean guru's or technical analysts etc - i mean live real time forex traders who put real money on orders etc and expect to make money day in day out ;-)

Well I am one of those guys - i am pleased to say - but no I am not unique - and yes i make mistakes and even with 5 losses yesterday - still made great money off 14 trades

Hope that answers your query

Have a great trading week Mr Pboyles

Regards

F

 

[Forexmospherian]

GU not looking so good now - down to 66 and hovering around 67/8 - next supports at 42 and 35 prices.

Under 68 or 66 scalp sell for lower with 69 stop