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

[Forexmospherian]

USDCAD is up 30 pips in last 3 hours ...........not my #1 pair but it seems to be performing today

N

I will have to look at Cad more

was never really one of my favourites - but that was like 5 yrs ago

need to review that again now I suppose

 

[barjon]

mornin' fxmo

I'm late on parade this morning and see you've been busy.

A couple of refresher questions if I may:

1. What spread are you working with on eur/usd and eur/jpy?
2. Is your 5 point stop loss 5+spread or spread inclusive?
3. What are the prices you quote - mid, or buy when talking long and sell when talking short or what?
4. What feed are you using - so I can square it with mine which looks a few points adrift?
5. At what level of points profit will you adopt your "free trade" type exit or is it more as the fancy takes you.

Not trying to trip you up here, just want to be sure as a senile old codger that I know what you're talking about.

 

[Forexmospherian]

GL

The real cut off for me is 37/8

Under 37 and 31 yes scalp sells - especially if 25 goes

But no under 25 and a try at 37 - changes it

Its a tease zone - so have to keep powder dry for me

GU - could not get over 38 - and then 36 was another scalp sell

But even though its gone down to another interim LL - still not under 25

Not in it and waiting for next hr time windows - as too many tease zones in many pairs atm

 

[Forexmospherian]

See you in a bit guys - and Good Luck

 

[Forexmospherian]

mornin' fxmo

I'm late on parade this morning and see you've been busy.

A couple of refresher questions if I may:

1. What spread are you working with on eur/usd and eur/jpy?
2. Is your 5 point stop loss 5+spread or spread inclusive?
3. What are the prices you quote - mid, or buy when talking long and sell when talking short or what?
4. What feed are you using - so I can square it with mine which looks a few points adrift?
5. At what level of points profit will you adopt your "free trade" type exit or is it more as the fancy takes you.

Not trying to trip you up here, just want to be sure as a senile old codger that I know what you're talking about.

Morning Jon

No problem - will answer all your points

Just having a break for 15 mins and then in next hr will answer your queries

Regards

F

 

[Forexmospherian]

Back now at start of 11 00 am time window

EU - GU - EJ etc still in tease zones for me atm

need EU to stay under 90 - to then look at a scalp sell

It was a scalp buy - like EJ - but nor in either as in tease zones

 

[Forexmospherian]

Not got Cad and NU up

On AU yes under 24 still scalp sells - but 20 now offering supports

Above 25 and 27 I would be scalp buying again

and only holding or taking more scalp sells under 20 and 17

GL

this was at 10 23 am

Au dropped under 20 supports to next interim supports at 8913 and bounced again as a scalp buy

You can only hold it on above 21 and 25

Otherwise take what you can

Under 11 and 08 more scalp sells

 

[Forexmospherian]

11 00 am time

Boring last hr with too many tease zones - ie indecision price areas - that are then manipulated by the liquidity supplier - to set up false sentiments etc

Normally they are uses to catch both intraday bulls and bears out - and you have to be careful of double whammy's - ie 2 opposite false breaks

 

[Forexmospherian]

AU - made 18/19 so far - needs 21 and 24 to hold scalp buys on

Otherwise take all off here or 70% if you think it will try over 24 +

 

[Forexmospherian]

Nothing seems really appealing just atm - so will wait to see outside this time window

OK - will answer Jon's questions now

 

[Forexmospherian]

mornin' fxmo

I'm late on parade this morning and see you've been busy.

A couple of refresher questions if I may:

1. What spread are you working with on eur/usd and eur/jpy?
2. Is your 5 point stop loss 5+spread or spread inclusive?
3. What are the prices you quote - mid, or buy when talking long and sell when talking short or what?
4. What feed are you using - so I can square it with mine which looks a few points adrift?
5. At what level of points profit will you adopt your "free trade" type exit or is it more as the fancy takes you.

Not trying to trip you up here, just want to be sure as a senile old codger that I know what you're talking about.

OK Jon

1 - spreads under 1 pip in these pairs and as low as 0 2 pips on EU this morning with one ECN broker. Trouble is you have commissions on top - but I still work out its under 2 pips cost normally

I cannot scalp pairs with speads over 4 or 5 pips - unless I expand stop to over 7 pips - and therefore prefer not to do that

2 Yes spread is included in stop

Normally if under 1 pip or even up to 2 pips - 5 pips stops are OK - you just need great timing off the tick chart or 1 min

3 the buy price on scalp buy and sell price on scalp sell - ideally less than 0 7 pip in it 70% of time

4.I use 3 feeds - but only 2 brokers

Yes all can differ from 1 to 3 pips normally - sometimes more on quick moves with delays of say 3 seconds

i have to quote the price i have on the brokers chart i use for the trade

5 I am going into free trades more on the other thread

Will explain in detail - as it also depends how much i am already up in the session or day

i dont like setting 30% stops under entry - but if the scalp as made over 15 pips I dont normally have to

Sometimes if i take a free trade under 7 pips - then I miaght set it still 5 pips under entry - as the 70% profit will still cover it

Hope this helps Jon and you are welcome

Regards

F

 

[morgan_edge]

scalpy sells belkow 69 on euro

 

[Forexmospherian]

EU - swissy and GU - still messy and in their tease zones

At least EU as stayed under 90 so that might help on a further fall and swissy need over 93 for it to try higher still

GU - total tease and stuck

Yes ist scalp buy above 28 - BUT a scalp sell under 40

 

[Forexmospherian]

scalpy sells belkow 69 on euro

Yes I only need 71 and 70

I got the feeling though - 68 -70 still might hold as still in tease zone

I hope I am wrong really as want to come out into another price area

 

[Forexmospherian]

The AU is not in a tease zone

Was a scalp buy at 15 plus and now above 21

I need over 24 to scalp buy again on any pullback staying above 19

 

[Forexmospherian]

EJ - low was 39 at 11 09 - 11 10am

That was end of time window

Was hoping some one would scalp buy it - as I was typing away watching AU

i did not - but as risen in less than 10 mins to 53 and still scalp bullish above 47 if you are already in

 

[Forexmospherian]

Gu - finally trying to come out tease zone by testing 25

Need to stay under 33 now and then try again for 23 and under

 

[Forexmospherian]

GU

i have 25 low and now a HL at 26 and if we see 31 - then that says more than likely we will not see under 25 still

So still in the tease zone

 

[Forexmospherian]

EU and EJ - both showing more scalp sell clues

We need EU under 70 and then really under 66 to hold scalp sells on

 

[Forexmospherian]

EJ made 41 at end of 11 30 am time window

That was a clue to pull any scalp sell

42 is a scalp buy - but its back to a tease zone then

Nedd under 39 and 36 to scalp sell again