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

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Forexmospherian said:
GU

Ugly PA atm - stuck around 6884 - and teasing 5 pips either side

Won't touch it with a bargepole - until we get a clearer scalp move - under 6880 and 77 as scalp sells or above 92 and 96 for scalp buys and a go up to 6900 again

GL - out in 10 mins back after 8 30 am UK time
Click to expand...

Gu comment from over 90 mins ago

We are now 10 mins away from news - and still stuck in the range 6880 to 6896

Need over 6905 and 10 for looking at taking more scalp buy after news - and under 80 and 70 for taking scalp sells

Yesterday the GU moved easily 5 mins before the news event and then carried on up

The UK economy is improving and so you expect news to be bullish - but markets dont just follow fundamentals - as that's too easy - so I remain unbias - rather than saying just buy buy buy - for all i know the GU pair may be well OB and ready for 50 -100 pip pullback
 
what happened with Gold trade, Tar? And the EJ? (sorry if i've missed the results)
I think we could learn a lot from your expertise.
 
EU

Temptation area 1.3875-1.3885 , if price is in between may continue upside and buy above 86 , or reverse and sell under 74 .
 
lexcorp said:
what happened with Gold trade, Tar? And the EJ? (sorry if i've missed the results)
I think we could learn a lot from your expertise.
Click to expand...

These are cluster areas , so need a bit of momentum aka NFP ;)
 
GU news - anti climax for now - 17 pip drop and bounce and now again at 6886 -under 96 still bearish - but needs back under 80 and 70 for more scalp sells or holding any you are in
 
Forexmospherian said:
Comment on EU from approx 2 hrs ago

EU made 3851 and is now 3854 - and as stayed under 62 the whole 2 hrs

Amazing really - so slow this morning

3853 could be looked as an HL and a scalp buy for aggressive scalpers - you need over 58 - with 55 holding to stay with it

Under 53 and 49 - more scalp sells
Click to expand...

EU now up at 3864


Above 3860 - still scalp bullish for me
 
10 13 am - and the AU and EA have now woken up - with EA rising from the hr change and the AU finally falling

We need over 4970 and 75 to hold the EA scalp buys - and under 9262 and 57 to hold AU scalp sells
 
EU - as failed to progress over 65 after several attempts from the 59 -60 area,

Now for aggressive scalpers - we had the LH at 635 - and signals for scalp sells

Need under 57 and really 50 to then take more or to hold them on longer for lower
 
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GU

still ugly PA but out of it you can see from under 6896 we are having LH's and LL's - but now need under 78 and then under 70 - my cut off at present is 86
 
Forexmospherian said:
EU - as failed to progress over 65 after several attempts from the 59 -60 area,

Now for aggressive scalpers - we had the LH at 635 - and signals for scalp sells

Need under 57 and really 50 to then take more or to hold them on longer for lower
Click to expand...


10 30 am - EU just made under 57 and i am out scalp sell at 582
 
Out for 30 mins or so

Not in GU now - but under 77 and then 73 - take more scalp sells

Above 87 and 91 - more scalp buys

Also watch EJ - if it get above 142 06 llok at more scalp buys with pullbacks staying above 141 98

See you a bit later
 
Hi F

Many thanks for your comments on my post yesterday. I totally agree it will take a while, but I am hoping that by speaking to and following someone with your skills and experience, will stop me from making these same mistakes as you did. I will certainly not trade my own money until I am at least making money on demo account, even if this take a year.

As I work from home, would you not advise to have a separate screen set up, showing the charts, even if I dont actually trade, Just to watch how the markets move?

As always your time in responding to me is very much appreciated.

Speak soon

Dean
 
Typical - sods law - lol - I pop out for 20 mins and it kicks off

Missed the rises on the EJ and EA and falls on GU and AU - although am in a 30% NPGT buy on the EA from the 4870 area early on in the week

GU - now down at 6866 and would need back above 75 to get be looking at scalp buys really

EJ - made over 142 06 and touched 142 15 - above 05/6 still scalp bullish

AU fell to 9248 - and under 62 another scalp sell on pullbacks
 
Derolo said:
Hi F

Many thanks for your comments on my post yesterday. I totally agree it will take a while, but I am hoping that by speaking to and following someone with your skills and experience, will stop me from making these same mistakes as you did. I will certainly not trade my own money until I am at least making money on demo account, even if this take a year.

As I work from home, would you not advise to have a separate screen set up, showing the charts, even if I dont actually trade, Just to watch how the markets move?

As always your time in responding to me is very much appreciated.

Speak soon

Dean
Click to expand...

Hi Dean

Yes - I trade from an home office - and normally use 3 + monitors for charts and then separate laptop/ tablet for blogging and non trading stuff.

Watching live chart time is key - and i suggest you watch on under 5 min charts and then try and sync them up with 30 - 60 and 240 mins - to understand how pairs moves on an intraday basis.

Watch around my time window periods - ie 9 mins either side 30 and 60 min frame changes - for the start of different moves - stick a simple moving average or better a linear regression on a 50 -60 setting to just follow the simple waves of the market movements.

Every week - you will pick up tips and extra knowledge etc - and then you will at least understand why so many traders have so many different views on what will happen next

I am a short term trader - specializing in scalping etc - but know of a couple of "Master FX" traders - one who has been trading currencies for over 2 decades - and he can scalp - swing - long term and position trade with the best - but they admit it took them years to develop each additional skill set and then get to a stage he has confidence to trade on larger lot sizes ( over £100 a pip) with his own monies.

Step by step - stage by stage - and yes should then be able to save yourself from losing large amounts of money on bad trading and even spending thousands with so called guru's and tutors - of which maybe only really 10% of them can "walk the walk" -as well as the easy part - "talk the talk" on just trading theory.

Regards


F
 
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Thanks F for getting back to me. I will implement these into my trading plan. When you say how pairs move, do you mean the GBP/USD and EUR/GBP etc?

Can I ask what system you use to watch the charts? I am on MT4 at the moment as it was free, but maybe this will change when I get more confident and end up paying a monthly fee for one.

Thanks and speak soon

Dean
 
Forexmospherian said:
Typical - sods law - lol - I pop out for 20 mins and it kicks off

Missed the rises on the EJ and EA and falls on GU and AU - although am in a 30% NPGT buy on the EA from the 4870 area early on in the week

GU - now down at 6866 and would need back above 75 to get be looking at scalp buys really

EJ - made over 142 06 and touched 142 15 - above 05/6 still scalp bullish

AU fell to 9248 - and under 62 another scalp sell on pullbacks
Click to expand...


Comment from approx 40 mins ago - re GU

Surprise myself at times - price got to 68744 on my charts - just under possible scalp buy territory - and then stopped.

From under 73 and end of time window at 11 39 am - GU was a scalp sell again and as since dropped back under 66 and now down to 6856 - nice got some of that (y)
 
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