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

[klw]

these are the bars? ty klw!

Yes and the equivalent bars on gj at the same time 13.55 ish.

 

[klw]

short eu 62 tightish sl

 

[MajorMagnuM]

short eu 62 tightish sl

i tried at 58 and got shafted.

 

[klw]

i tried at 58 and got shafted.

Bit of a punt , you watch it go up to 71 previous support like I said it would last time.

Out -3

Trade what I think not what I see this time lol

 

[MajorMagnuM]

Bit of a punt , you watch it go up to 71 previous support like I said it would last time.

Out -3

Trade what I think not what I see this time lol

well the logic i was following was that it was hour change, fast move up immediately previous.

 

[sunZy]

I´m getting better with reading long-/mid-/shortterm LR from day to day. So my hitrate improves. YES.
Hitrate >65% im comming.

It´s easier to see small waves from midterm LR changes with 5-12p.
But today i just took to early profits. For now i´m still afraid of getting the big waves of +15p. If a trade runs >15p i have a feeling of "ouhhh ****, the direction could be changing, outoutout"

F could you please explain how and when you exit a trade? Its often that the market weakens i go out, a small countercandle appears and after that one its going right back in my direction and i could have 1,5R more.

 

[MajorMagnuM]

usd slowly rolling over\?

 

[MajorMagnuM]

how long does this speech last for

 

[MajorMagnuM]

nu eu structure similar atm

 

[MajorMagnuM]

Boom eu. What did she say

 

[klw]

Boom eu. What did she say

Yes got to 71 in the end. Took 3 attempts to do it. I still think 48 is the target although this looks like it will delay that a bit longer.

I smell food downstairs.

 

[Forexmospherian]

I´m getting better with reading long-/mid-/shortterm LR from day to day. So my hitrate improves. YES.
Hitrate >65% im comming.

It´s easier to see small waves from midterm LR changes with 5-12p.
But today i just took to early profits. For now i´m still afraid of getting the big waves of +15p. If a trade runs >15p i have a feeling of "ouhhh ****, the direction could be changing, outoutout"

F could you please explain how and when you exit a trade? Its often that the market weakens i go out, a small countercandle appears and after that one its going right back in my direction and i could have 1,5R more.

Hi Sunzy

Yes will go through this again with regards to exiting a scalp on to a No Pain Gain Trade - ( NPGT - old free trade idea)

Will use the EJ as the example today and will cover it a bit later on - no problem


Regards

F

 

[Forexmospherian]

EJ - 1 min chart + comments on low and turn

EJ

Stopped in 1 00 pm time window and at 1 21 pm - a scalp buy at 21 /22 area

need to stay above 19 and break 32 to hold

Under say 17 and 15 more scalp sells

Over 32 after any pullback - look at more scalp buys above 20

ok lr above not buying yet. also r/g/yellow out of order?

EJ

Turn started after a false drop following EU



Now over 32 and need to stay above 20 supports-

The EJ turn and move up was outside normal time windows

the move up was strong and fierce - ie 25 pips in less than 7 mins

Meanwhile EU made 60 before minor bounce - so down to 30% on scalp sell

EJ - still trying up and now made 47

Pulbacks staying above 37 - still scalp bullish

EJ

only on 30% - not made 55+ and now stuck between 40 and 46

46 + will hold 30% buy still on

Under 40 will exit it

EJ

Not in a scalp sell - but might be able to scalp buy again above 27 and around 30 area

EJ

This afternoon - I missed a scalp buy and was 15 pip late entering the afternoon rise - but I was fairly confident over 32 it would try higher again - and it did - up to 138 79 - a 60 pip - approx 100 min rise - - so the 15 pips was not to big a miss on the 40+ pips I ended up with - and that's not counting a lovely fall I also caught early this morning

Chart attached and will go through it later

 

[MajorMagnuM]

this has been happening all day. half a pip, it take my stop by half a pip and then gives me the fall.

 

[MajorMagnuM]

EJ

This afternoon - I missed a scalp buy and was 15 pip late entering the afternoon rise - but I was fairly confident over 32 it would try higher again - and it did - up to 138 79 - a 60 pip - approx 100 min rise - - so the 15 pips was not to big a miss on the 40+ pips I ended up with - and that's not counting a lovely fall I also caught early this morning

Chart attached and will go through it later

i am so far away from getting any of those entries. working on the 1700 one atm. it broke the 531 support then turned around very fast at 16:59

AS you highlighted earlier, i also missed the ej buy, as to me the structure was not bullish at all.

 

[klw]

this has been happening all day. half a pip, it take my stop by half a pip and then gives me the fall.

Hi M. --- commission 19c , is that per side or round turn and what was your spread on nu if you don't mind me asking ?

 

[DowJones]

Hi M. --- commission 19c , is that per side or round turn and what was your spread on nu if you don't mind me asking ?

Hi klw, LMAX spread is currently about 0.8 on NZD/USD. Std commish is 0.00250% of notional trade value. Hope that helps.
Edit: Sry, didn't properly read your post - so the 19c was per side.

 

[klw]

Hi klw, LMAX spread is currently about 0.8 on NZD/USD. Std commish is 0.00250% of notional trade value. Hope that helps.
Edit: Sry, didn't properly read your post - so the 19c was per side.

Cheers DJ .

 

[Forexmospherian]

this has been happening all day. half a pip, it take my stop by half a pip and then gives me the fall.

Hi MM

This is easy to remedy if your stop is 3-7 pip max

BUT if its say 15 -20 -25 pips - then its showing you have a wrong trade

Slow your entry and had 1 pip to your stop size if this is happening frequently

Regards


F

 

[Forexmospherian]

I´m getting better with reading long-/mid-/shortterm LR from day to day. So my hitrate improves. YES.
Hitrate >65% im comming.

It´s easier to see small waves from midterm LR changes with 5-12p.
But today i just took to early profits. For now i´m still afraid of getting the big waves of +15p. If a trade runs >15p i have a feeling of "ouhhh ****, the direction could be changing, outoutout"

F could you please explain how and when you exit a trade? Its often that the market weakens i go out, a small countercandle appears and after that one its going right back in my direction and i could have 1,5R more.

Hi Sunzy

Going back to your main question

When do you close a trade or exit it ?

OK first point - you want to close in a profit situation - but ideally 50 pips or 100 pips rather than 20 pips or just 2 pips.

Secondly - you know you will not win every trade - so the ones that dont go into profit and go the wrong way - just get out super quick - ie minus 3 is better than minus 10 or minus 20

Its ok saying give the trade room to breath - yes do that when you are not in it seeing negative drawdown

its far better to exit with plus 4 pips - and then re enter again - then see it up plus 9 pips and let it go back into negative - thinking no problem I have a 10 pip stop and its not hit it yet

Re entering cost money - but so does larger stops

My main trades are bias to the 7 -25 pip range - ideally all within 10 -15 mins - max 30 mins

If i see potential and I am up 15 pips - i just take 70% off and put the 30% stop in a few pips profit - and forget

If it goes on to make 25 or 40 + pips great

if it is stopped out at just 2 pips - no problem - I made 70% on main move and added still to it with 30% and had no extra cash loss

Now and again if you can catch a good scalp - 2 ring a bell for me - ie scalp sell on EA March 12th around the 5500 level and EU at 3985-90 level and lock just 30% in profit near entry - that 30% may go onto to make 100s of pips and even in certain cases 1000's of pips - without ever stopping your original stop out

300 pips at 30% is really like 90 + pips of full scalps - that may be 10 or even 20+ trades - rather than one trade you forget about - with no stress

Normally to exit - I look for a quick burst and a time window and the white quick Lrs going over or under price - showing a possible change of direction and then a S or R level as a barrier

if i can get 3- 5+ clues saying looks like a interim top or bottom - then I exit to look for opposite direction trades - and if price holds a interim high or low then over 30 mins - another clue etc etc

I have mentioned to MM - every 1000 hrs of watching live trades at the "coalface" on 1 - 5 min charts will help along with every 500 live trades - ie they might only take 6 - 8 weeks- it amazing how you see new clues and gain more trading knowledge etc

My daily targets are 50 pips. i dont stop when I get there - but some days its easy - within 2- 3 hrs and 6 trades - other days - it takes 10 + hrs or more with 15 -20 trades just to make 30 pips

I am also keen nowadays to have as many 30% trades on with stops in profit as possible - even on 4 or 6 pairs - no real risk as what ever happens you stop is in profit and you need only babysit every hr or so

Scalps are time consuming and i monitor everyone - thats why ideally i want them over within 15 mins with 7 - 12 or 15 + pips in the bag - i am happy and if still more potential - leave the part stake on with stop in profit - and then relax

Hope that helps

Regards


F