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

[Forexmospherian]

EU - 3580 still mu cut off area - a scalp buy above but we need back into 3600 zone to hold ant buys on

Posted about 80 mins ago - and now EU up at 3615 after making 3618

would not bother scalp selling until under 3610 and 07

Above 12 still scalp bullish but R;s at 3620 -30 area

 

[Forexmospherian]

GU - we seem to be peaking at 6400 - you can sell under 6388 and 84 - whilst still above 90 - might try high again of 6401

 

[Forexmospherian]

Just waiting to see if I catch some scalp sell pips on the GU and then finished for the day

Hope all have had a good week - or seen ways to improve etc

Have a great weekend and will pop in later to catch MM

All the best

Regards

F

 

[klw]

No problem - i will give you my clues

1, The price was hit outside the time windows -but at 3.15 pm -- and 15 / 16 mins are half way between the hr and half hr time window - so can be an option on timing

2. Prior to the move up we had over a 40 pip move in under 12 mins - so price becoming OB in the short term

3.I had 2 quick LR's going over at 97 / 98 and by 95 - all 2 were over saying scalp sells confirmed with LH at 94

4 I should have watched more carefully as we hit 81 within about 5 mins and I should have then exited at 82 - but missed it - it was the new half hr time window as well

5. With no under 5180 - it became an interim support areas and then by 90 my quick lrs under saying another scalp buy - and then once back over 99 itw as more scalp buys again - as structure still wants higher

Hope that helps klw

Hope that helps

Had to go out unfortunately F.

1. I understand that totally.

3. Will take a look at LR's was neutral to them as I am any indicator.

4. Could be my fault I think you may have been answering my first question.Apologies for that.

It was a good scalp in my book either way.

Thanks for taking the time to answer my questions it is much appreciated.

Cheers.

 

[MajorMagnuM]

No problem - i will give you my clues

1, The price was hit outside the time windows -but at 3.15 pm -- and 15 / 16 mins are half way between the hr and half hr time window - so can be an option on timing

2. Prior to the move up we had over a 40 pip move in under 12 mins - so price becoming OB in the short term

3.I had 2 quick LR's going over at 97 / 98 and by 95 - all 2 were over saying scalp sells confirmed with LH at 94

4 I should have watched more carefully as we hit 81 within about 5 mins and I should have then exited at 82 - but missed it - it was the new half hr time window as well

5. With no under 5180 - it became an interim support areas and then by 90 my quick lrs under saying another scalp buy - and then once back over 99 itw as more scalp buys again - as structure still wants higher

Hope that helps klw

Hope that helps

Jesus

 

[MajorMagnuM]

F i did 0k today. stopped after 2 in a row bad. But reading yr explanation to klw i know am still not there yet. Thia example sh0ows how you can flow with it and take any opp that has enough pips for you. I still need to work on the exit for the first trade let alone know to go the other way etc.
ps in that example what said exit at 82?

 

[MajorMagnuM]

and finally

 

[MajorMagnuM]

these circles are the same size

 

[Forexmospherian]

Hi MM

Just a couple of words on the above results -

Mighty Impressive

So its Friday evening after London close and you have 3 spare hours or so and you decide to do a few scalps

Results - well I have never seen a scalper with less than 4 months of scalping experience turn out these type or results - you would put many a top experienced scalper to shame :smart:

Had a quick review and i reckon you are slightly improving ( joke )

29 trades - 86% win ratio

4 losses - largest 2.3 pips ( very disciplined - top marks)

200+ pips - (more than I have done in the complete day)

11% increase with account with majority of trades under 1% stake size

3 trades over 20 pips and in total 19 trades above 5 pips

Trades from 5 different pairs ( impressive) - in fact the whole performance shows a great understanding of short term intraday trading

Please please - please - never say you had a "bit of luck" - that takes pure skill

Keep a large copy to stick on the office wall to remind yourself of what you are capable of

Enjoy your weekend - and pat yourself on the back - because you have earned it ;-)

PS - It gets easier after 2000 live intraday trades - trust me

Regards

F

 

[Forexmospherian]

F i did 0k today. stopped after 2 in a row bad. But reading yr explanation to klw i know am still not there yet. Thia example sh0ows how you can flow with it and take any opp that has enough pips for you. I still need to work on the exit for the first trade let alone know to go the other way etc.
ps in that example what said exit at 82?

After just seeing your results - I reckon you are under estimating yourself

One step at a time though - change in the flows and changing of scalp directions comes more with the next 500 trades you will be doing

Have a great weekend

Regards

F

 

[klw]

They are excellent results MM.

I reckon there will soon be a lot more following this thread on Monday.

 

[tar]

Forexmospherian has 5k posts in just 3 months , i would say a real scalper wont find the time to do that :|

 

[Splitlink]

Forexmospherian has 5k posts in just 3 months , i would say a real scalper wont find the time to do that :|

I seem to remember, way back, that he said that he did not scalp nowadays, although he used to. The scalper, on here, is reputed to be MM and he has over 4,000 posts.

I agree with you, though. I could not find the time or patience to do it. To be frank, I don't know the reason for doing it, either. I log my trades into a book but, rarely, look at them afterwards, unless it is the same , or previous day.
i

 

[Forexmospherian]

Forexmospherian has 5k posts in just 3 months , i would say a real scalper wont find the time to do that :|

Hi Tar

I think you are correct if you are defining a real scalper as a trader who is taking 8 -15 trades per hour - ie grabbing 1- 3 pips - and in and out the market within seconds or minutes.

I did used to do that - but quickly gave up when I found a better way - as it was very mentally draining and physically tiring doing 50 -100 trades every day.

I can still scalp currencies with the best out there - but nowadays I classify myself as a "short term intraday trader" not a pure "real" scalper"

So instead of making trades for a few seconds or minutes - my ideal trades last 10 -20 minutes - maybe 30 mins max - and then if they become a "free trade" - on part stake with stop in profit - they can take as long as they like - I dont have to bother or manage them like a "pure scalp"

Lets break my day down and look at my time management etc

24 hrs in a day - (1440 minutes) - sleep - 6-7 hrs ( say 400 mins) awake - 17 /18 hrs - ( say 1000 mins)

Right - time allowed for trading and trading related topics - 6 -10 hrs per day ( 360 -600 mins) what about a third to half my "awake" day ( for 25yrs+ I worked anything from 8 to 14 hrs a day - so this "job" is "easy peecy"

Number of trades per day - minimum say 8 - max say 25 - average say 16 trades over 360 -600 mins so lets average that down to say 1 trade every 34 minutes

Trade time entering a trade - say 1 -3 seconds - exiting a trade - say 1 - 5 seconds - but both easy under 10 seconds - with an average trade 12 mins in duration

Typing my comments - on this thread - or anywhere - lets say 60 comments a day average - time to type a comment - minimum - 15 seconds - a longer trading comment - 4 minutes - average say 2 minutes related to intraday trading

Now lets add them up -

Time spent a day working at FX trading - 6 -10 hrs ( 360 -600 mins)

Time watching live charts - say 16 trades - less than 5 hrs ( 300 mins )

Time blogging 2 x 60 - 120 mins - all within the period I am trading

Question - Can I take an average 16 trades a day and make 60 comments while I am doing it ?

Answer - Yes - piece of cake when you know what you are doing



Hope that fully answers your question Tar

PS - I am 60 yrs old now - so not jogging or at the gym etc as much as I was 30 yrs ago - but during my trading day ( 360 -600 mins)- I also do school runs a few days a week - walk the dog twice or so - watch Sky News - listen to Talksport - read the papers - e-mail - do a few "house domestic jobs" - plan holiday breaks - make several cups of tea and coffee - cook and eat - contact pals - visit the village pub on a few lunchtimes - and even do a bit of shopping.

I then have left outside my trading day but still in the "awake" period - ( 400 - 650 mins ) I spend time with family and friends - chilling - eating drinking cinema / tv etc etc

Regards

F

 

[Forexmospherian]

I seem to remember, way back, that he said that he did not scalp nowadays, although he used to. The scalper, on here, is reputed to be MM and he has over 4,000 posts.

I agree with you, though. I could not find the time or patience to do it. To be frank, I don't know the reason for doing it, either. I log my trades into a book but, rarely, look at them afterwards, unless it is the same , or previous day.
i

HI Split

I do find trading boring to be honest - and very repetitive

I also find i can get into my "trading zone" and perform better with pressure ( no - not just risking tons of cash) - so by commenting my thoughts in advance or as I enter or take trades - makes me really focus - rather than skiving and only taking 3 - 5 good trades and thinking that's it finished for the day now - and its only 10 00 am.

Disciplines, focus etc etc are important as well as social interaction when you work from an home office - also - every month and every 100+ new trades I learn more about me and what I am doing - rightly or wrongly

Regards

F

 

[Forexmospherian]

Hi MM

Just a couple of words on the above results -

Mighty Impressive

So its Friday evening after London close and you have 3 spare hours or so and you decide to do a few scalps

Results - well I have never seen a scalper with less than 4 months of scalping experience turn out these type or results - you would put many a top experienced scalper to shame :smart:

Had a quick review and i reckon you are slightly improving ( joke )

29 trades - 86% win ratio

4 losses - largest 2.3 pips ( very disciplined - top marks)

200+ pips - (more than I have done in the complete day)

11% increase with account with majority of trades under 1% stake size

3 trades over 20 pips and in total 19 trades above 5 pips

Trades from 5 different pairs ( impressive) - in fact the whole performance shows a great understanding of short term intraday trading

Please please - please - never say you had a "bit of luck" - that takes pure skill

Keep a large copy to stick on the office wall to remind yourself of what you are capable of

Enjoy your weekend - and pat yourself on the back - because you have earned it ;-)

PS - It gets easier after 2000 live intraday trades - trust me

Regards

F

Forgot to mention MM - FXPro have done you by at least £300 on the commission structure etc - ie it really is a cr*p deal and you can negotiate far better rates with real money and a gun to their head

Remember you are the customer - if they want your business - they need to jump through hoops and with the amount of trades you like taking - brokers will want you

 

[DowJones]

Forexmospherian has 5k posts in just 3 months , i would say a real scalper wont find the time to do that :|

tar - look forward to you posting your trade statements on this site, showing you making about 1k in a day... maybe you can show fxmo and MM how it's done?

 

[tar]

tar - look forward to you posting your trade statements on this site, showing you making about 1k in a day... maybe you can show fxmo and MM how it's done?

I didn't claim anything here , nor i claimed i am making 1k a day , so i dont know why u r asking my statements for , doesn't make sense hence i didn't claim anything ! You are upset because i said about u that posting screenshots is meaningless because of "cherry picking" and because its after the event . That being said we used to have an active thread where we post live calls with SL , but its not active anymore , may get back to it though .

http://www.trade2win.com/boards/discretionary-trading/139984-live-trading-general-chat-lounge.html

 

[tar]

I seem to remember, way back, that he said that he did not scalp nowadays, although he used to. The scalper, on here, is reputed to be MM and he has over 4,000 posts.

I agree with you, though. I could not find the time or patience to do it. To be frank, I don't know the reason for doing it, either. I log my trades into a book but, rarely, look at them afterwards, unless it is the same , or previous day.
i

MM has 4K posts from 2011 ...

 

[DowJones]

I didn't claim anything here , nor i claimed i am making 1k a day , so i dont know why u r asking my statements for , doesn't make sense hence i didn't claim anything ! You are upset because i said about u that posting screenshots is meaningless because of "cherry picking" and because its after the event . That being said we used to have an active thread where we post live calls with SL , but its not active anymore , may get back to it though .

http://www.trade2win.com/boards/discretionary-trading/139984-live-trading-general-chat-lounge.html

I'm not even vaguely upset. I'm just calling you on your bs. After your post in my thread 2 days ago, I answered your point and then called trades here, and also posted consecutive statements, showing $800-$1k/day gains. That's not 'cherry-picking'.

I posted my comment to you because you came on here implying that someone who posts a lot is not scalping. Maybe fxmo is scalping well - who knows - what I saw is him teaching MM, who posted great results yesterday.

All I see from you recently are pointless negative comments. Hence I say to you, if you want to criticise start proving you can walk the walk. You can post some "after the event" statements - that's fine.