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

[Sigma-D]

Hi SD

No problem with your questions - you are welcome and i will try and explain in a bit more detail

My stake size is normally under 1% of the Capital account - as main account is around the $50 -70k level with profits withdrawn on a regular basis - and i base my 1% or less on approx 5 pips - not the hard stop at 20 -25 pip area.

The hard stop is hardly ever needed - its just a "safety valve" - I might go over 1000 trades and its never hit once - as I have either exited with profit or within 5 -7 pips manually.

With regards to a sudden spike - thats why I don't use a a hard stop at 5 -7 pips - you do get the occasional quick spike in under 1 second that might happen when you are up say 2 or 3 pips in profit and its say 6 or 9 pip move against you in a split second - and so an hard stop would be taken out - but in most cases- small spikes revert to normal during the next minute or so.

In 90% of all my scalps - price either goes in my favour - or goes away from me after entry and i would then try and exit under minus 3 pips if possible.

Its only the odd occasions you get the anomalies - so were you cover for them - you accept they might only happen now and again. Timing is critical on scalp entries - and when you enter - you want to be catching the start of the momentum and so if you have say just a 0 5 pip or 1 pip spread then after entry you accept 1 to 3 pips drawdown - but expect to be positive by 1 or 2 pips within 30 seconds or a few minutes

All my scalps are taken from a tick chart or a 1 minute - and i would expect them to all finish normally under 30 mins with many only taking 10 -15 minutes - so thats why I watch them . if I make over 15 or 25 pips great - I might exit with 100% and then look again in another time window. If PA is slow I might exit with 70% and then lock the 30% in with stop in profit - 1 or 2pips or even 5 pips if room and then just leave alone - and only watch every 10 mins or 30 mins and move my stop more into profit if I can.

Some 30% trades with stops in profits can remain in action for hrs or days and instead of just making say 10 -25 pips - you end up with 70 pips or 200+ pips .

My Best one for March was on the EA from 5500 - I still have that running with 500 pips of profit locked in still - although I have exited other EA sells since after it started to retrace back above 4800 and 4900.

Remember trading is not black or white - its mostly grey - you need to have rules - but they cannot be fixed in stone - they need to be dynamic and flexible - just like the market.

Hope that helps and will post a 1 min chart and also mention my current indicator settings

Hope that helps for a start


Regards


F

Thanks for your comprehensive response. I’m clearing the decks for tomorrow’s action and looking forward to following your blog comments.

Just so I understand your method:-

You place hard stop of 25 pips which rarely (once every 1000 trades) gets hit. Your soft stop of 3-7 pips will normally allow a spike of 15 pips and 20% of the time it isn’t a spike and ends up being a genuine reversal and you take between 13 and 25 pips loss.

70% of the time you enter and the price doesn’t move against you by more than 7 pips maximum. This in incredible performance! Almost unbelievable! I am so looking forward to following someone with this sort of performance tomorrow and this week that I can’t tell you how much I’m impressed.

More importantly, your position size is based on 5 pips – not 25, so when you win you base your win on a 5 pip (not 3-7) initial stoploss and when you lose, your lose is approximately 5 times your 1% risked (25 pips0. I wish I had the balls to risk 5% for 1%.

Really looking forward to this week.

For clarity, you’ll be stating which pair, an entry price and a clear indication of exit and all within the construct of the 15 pip, maybe 25, stoploss based on 1% per 5 pips position size.

This could be the week you silence all your critics. Clarify. Transparency and Total Openness.

I’ll be following you calls closely but obviously with a rather smaller position size.

 

[tdezo]

Hi SD

Sigma -D , you did not understand one single thing regarding F's trading. Either spend a few more weeks or even months reading, slowly, his his posts or do us a favor and leave him alone.

 

[Forexmospherian]

Hi SD

No problem with your questions - you are welcome and i will try and explain in a bit more detail


Thanks for your comprehensive response. I’m clearing the decks for tomorrow’s action and looking forward to following your blog comments.

Just so I understand your method:-

You place hard stop of 25 pips which rarely (once every 1000 trades) gets hit. Your soft stop of 3-7 pips will normally allow a spike of 15 pips and 20% of the time it isn’t a spike and ends up being a genuine reversal and you take between 13 and 25 pips loss.

70% of the time you enter and the price doesn’t move against you by more than 7 pips maximum. This in incredible performance! Almost unbelievable! I am so looking forward to following someone with this sort of performance tomorrow and this week that I can’t tell you how much I’m impressed.

More importantly, your position size is based on 5 pips – not 25, so when you win you base your win on a 5 pip (not 3-7) initial stoploss and when you lose, your lose is approximately 5 times your 1% risked (25 pips0. I wish I had the balls to risk 5% for 1%.

Really looking forward to this week.

For clarity, you’ll be stating which pair, an entry price and a clear indication of exit and all within the construct of the 15 pip, maybe 25, stoploss based on 1% per 5 pips position size.

This could be the week you silence all your critics. Clarify. Transparency and Total Openness.

I’ll be following you calls closely but obviously with a rather smaller position size.

Hi SD

You are very welcome to follow my comments on this thread - But quite rightly as Tdezo has mentioned - please follow me first for and understand more of my methods and strategy - rather than just jump in live.

I really don't suggest you trade live today - as although the comments you have said are correct - I do risk up to 1% stake size on stops of 3-7 pips - average trades 5 pips - you need to understand a lot more about how I exit etc and what I am watching etc etc.

Its up to you - but as Tdezo is correct - and that's half the problem with Tar - he has never followed enough to know all my do's and dont's on scalping

You are also welcome to ask questions through out the day etc - and then see how confident you feel with my style of trading

Remember I can scalp on most pairs in both directions - and at busy time windows I might be making comments every 30 seconds or so - so please refresh the page often

Regards

F

 

[Forexmospherian]

Monday 28th April 2014 - Pre Opens

Good Morning T2W members

Time is approximately 15 mins before the European Open at 7 00 am UK time

I will do a quick up date and review on the key pairs I plan to intraday trade today

Have a great week


Regards


F

 

[Forexmospherian]

EU and Swissy

First comments of the morning - on first inspection - EU as been bearish last 7 hrs and Swissy bullish

Present price on EU is 3823 - and for now under 25 it is in a scalp sell mode - with it needing under 18 and 14 to hold scalp sells on

To scalp buy the EU - i would need a breach above 27 and 33

I am not in any trade atm on either pairs - but will be looking for scalps over the hr time window

Swissy - above 8818 /19 - it favours scalp buys - and i would need price to fall under 17 and 14 to look at taking scalp sells down to either 10 -12 area. Above 8825 and 29 I would be holding then scalp buys for higher

 

[Forexmospherian]

Main pairs I am looking to trade today are EJ / EU / EA / AU / GU and maybe Swissy.

AU and EA are similar to the EU and Swissy - normally an opposite correlation

The AU as been in a scalp buy rise for over 90 mins with price currently at 9287/8 and whilst above 85 - still looks as though it might try higher. It did not make over 9300 late last week - so will it try there this morning

 

[Forexmospherian]

EA - just made another interim low dropping under 4880. Under 4889 i will be looking at scalp selling on this pair and would need above 95 and 4900 - to consider it might be changing for any scalp buys

 

[Forexmospherian]

EJ - opposite to EU - as session bullish atm

141 27 was a HL from 23 and a great scalp buy price - but for me too late. still a scalp buy above 28 and price now at 33 but needs above 36 and 39 to hold or take any more scalp buys

 

[Sigma-D]

Present price on EU is 3823 - and for now under 25 it is in a scalp sell mode - with it needing under 18 and 14 to hold scalp sells on

To scalp buy the EU - i would need a breach above 27 and 33

Under 18 AND 14? Which level will you sell at?

Swissy - above 8818 /19 - it favours scalp buys - and i would need price to fall under 17 and 14 to look at taking scalp sells down to either 10 -12 area. Above 8825 and 29 I would be holding then scalp buys for higher

usdchf buy at 25 OR 29 which? Sell below 17 AND 14 which?

 

[Forexmospherian]

EA - just made another interim low dropping under 4880. Under 4889 i will be looking at scalp selling on this pair and would need above 95 and 4900 - to consider it might be changing for any scalp buys

8 mins later - so far EA made low far of 4861 and under 83 still a scalp sell

I am only on 30% now at 67 - and my spread on this pair is 1.8 pips

 

[Forexmospherian]

Main pairs I am looking to trade today are EJ / EU / EA / AU / GU and maybe Swissy.

AU and EA are similar to the EU and Swissy - normally an opposite correlation

The AU as been in a scalp buy rise for over 90 mins with price currently at 9287/8 and whilst above 85 - still looks as though it might try higher. It did not make over 9300 late last week - so will it try there this morning

From last 15 mins comments on AU

Answer yes - it made 9300 and did I say scalp buy above 85 - Oh yes

 

[Forexmospherian]

EA now down at 4856 - and moved stop on 30% scalp sell down to 71 now

Tight but not bothered if stopped out in profit - already been nice for me last 30 mins

 

[Forexmospherian]

AU at 9302 - on only 30% from 97 but will move stop up to 95 now and still in profit on scalp buy

 

[Forexmospherian]

EA - out of 30% scalp sell at 64 after a 56 low

61 looked like a scalp buy - not taken it - but sooner have profit at 64 then wait if stop in profit had been hit at 71

 

[Forexmospherian]

GU

sorry had ignored it whilst trading EA and AU so far

It had been bearish in Asian session down to 6778 - but from 7 00 am time UK - a nice scalp buy from 91 area

Now at 6808 - and sorry was not in that one - above 6800 - still might try higher atm

Will keep an eye on GU

 

[Forexmospherian]

AU - so far 9303 looks interim top

My stop on 30% is in profit at 95 - but with price now at 97/8 - might get stopped - but no problem
still a profit

 

[Forexmospherian]

EA - out totally atm

It retraced back up to 72 - so did the right thing pulling scalp sell earlier - and now falling again
buy need under 55 and 51 to look at more scalp sells - and over 75 and 79 for scalp buys

 

[Forexmospherian]

GU

sorry had ignored it whilst trading EA and AU so far

It had been bearish in Asian session down to 6778 - but from 7 00 am time UK - a nice scalp buy from 91 area

Now at 6808 - and sorry was not in that one - above 6800 - still might try higher atm

Will keep an eye on GU

5 mins later GU now up at 6816 - yes only took 4 pips on a scalp buy - but I did say it might try higher above 6800 etc - but move too quick to properly comment on scalp etc

I hope you do understand - I have to put my trades first - and this GU hardly great for me making 4 pips on a 25+ pip up move - still cannot be scalping 4 + pairs all at same time

 

[Forexmospherian]

AU - out 30% scalp buy at 95 - and now falling

will look at another scalp buy on AU above 9288 - under 86 and 83 scalp sells would still be on

 

[Forexmospherian]

GU - now at 6821 - only on 30% from 15 on scalp buy - and will put stop up now to 18