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

[Forexmospherian]

I have attached my 1 min GU - linear regression chart ( no indicator lagging) to show what I meant about the GU and being a scalp buy from after London Open

I apologize that I was out on a school run and then not focused on my return - so missed this move.

Yes trading is easy in hindsight - we all know that - But I can assure you - this type of trade is my bread and butter - ie time window - and under 1 hr with a 5 pip stop etc

The chart is just one I work on - along with tick chart and others from 3 - 10 mins

My main instruments are - Time - HH and Hl's - trendlines - interim S & R's - linear regressions and a few others I prefer not to divulge

We do have GU news in approx 20 mins - so is this being set up to sell - or will we see another 50 pip rise ???

 

[Forexmospherian]

File now attached - i hope ?

 

[Forexmospherian]

GU news in 7 mins - will say - need under 6078 and then a break of 6062 to take and hold on to any scalp sell. Above 6080 its really still in up mode.

I dont trade through main news - but do "wrap" trades either side on certain news event

Will also watch EU and other pairs to see if any spin off

 

[Forexmospherian]

OK - in with only 2 lots on a scalp buy 6104 - i just hope I dont have to wait over 3 mins to get out - as we had 2 ways spikes and lots of play going on

 

[Forexmospherian]

We need to go over 6115 again for me to hold GU scalp buy - otherwise I just pull with what I can get

 

[Forexmospherian]

Ok - we are over 15 again - now 21 - otherwise just take what I can

 

[Forexmospherian]

163 is high for now - so 70% off at 15

 

[Forexmospherian]

Still not made 61121 - so far 61173 - and only got $6 left on as stake - so hardly going to get rich on this one atm ;-)

So got the think - if we dont get over 21 in next 5 mins - I look at we are topping and need to get into some scalp sells

Out of time window - and GU presently stalled

 

[Forexmospherian]

sorry should have read 6121 not 61121 - and now out of rest of stake at 6110 - but not entered scalp sell yet

 

[darktone]

GU news in 7 mins - will say - need under 6078 and then a break of 6062 to take and hold on to any scalp sell. Above 6080 its really still in up mode.

I dont trade through main news - but do "wrap" trades either side on certain news event

Will also watch EU and other pairs to see if any spin off

You mean a bracket trade? A parent stop to enter with a contingent stop either side of the price?

 

[Forexmospherian]

A tip here - watch now to see if we stay under the high of 61173 for 30 mins with no breach . If we do it then needs another 30+ mins to try another high - if it tries - or that could be the interim top for the day and so keep looking then at scalp sells

 

[Forexmospherian]

Hi Darktone - no I dont think a bracket trade? - instead a "wrap" - with say buys over 6122 and sells under 6050 and no trades in between - I only know it as wrapping

 

[Forexmospherian]

just looking at some other pairs - EU / AU / EJ and swissy - and realise I have had a "mare" this morning - not catching any other trades than the 2 scalp trades I have taken

I apologize - its just not good enough and will have to make sure I ignore future distractions being sent to me on non trading queries

 

[darktone]

Hi Darktone - no I dont think a bracket trade? - instead a "wrap" - with say buys over 6122 and sells under 6050 and no trades in between - I only know it as wrapping

SOunds like what you described is a bracket trade, ie if last price is 100 and you have an order to go long at say 110 and an order to go short at say 90. I used to like these type of trades a lot! How do you control the risk of that trade? Do you have a contingent stop attached to each order?

 

[Forexmospherian]

With the GU now - over 6112 we scalp buy again - and under 6100 and 97 - scalp sell

 

[Forexmospherian]

When i take "wrap trades" - I cannot risk entering hard stops at 5 or 7 pips - so change my strategy and get alerts if they are set off.

Normally I like to be around to watch all trades - except "free trades" that already have a stop set in a profit - and then I just leave them and only baby sit every hour or so - all depending how much profit locked already in the stop

 

[Forexmospherian]

Gu again - made 95 and then reversed - out at 6100 and now in a scalp buy - seeingif we can make over 6112 +

 

[Forexmospherian]

6111 the LH for now and that 61173 high is now getting near holding for 30 mins - encouraging me to think if we dont go over 6112+ then back in scalp sells - and for a break under 95

 

[Forexmospherian]

range for me is 6112 to 6094 - - when we have a proper break of one - then another clue whether the GU as topped for now

 

[Forexmospherian]

GU - how we play this now is back over 6112 - we look to scalp buy from any pullback to have a go at the 6117 area high

The fact that we have gone over 30 mins with no breach of high for now - encourages me to scalp sell under 6112 and to see if it will try a breach under 94/5

PA is totally boring atm - so not being encouraged to jump into other trades on other pairs for now - migh need to wait until after half hr change or even next hr change window