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

[Forexmospherian]

UCad - Today - 4 Key Times and moves

UCad - 1 min LR chart with KT's

 

[Geofract]

EU Back to 1.338 perhaps

 

[Forexmospherian]

Been to check my broad band back at home .

Still not right - even on the third router set up

Nightmare - cannot believe the problems caused by going for an upgrade to a faster speed with Virgin Media

If I am not on during weekend - its because of broadband 🙂

 

[Forexmospherian]

EU - The 2 Lits areas for today - AM and PM

EU

1 Min Lr Chart with 2 LitS areas marked

They show session PS and Bias for Intraday trading

 

[NVP]

Hope you get it sorted F

N

 

[Forexmospherian]

Hope you get it sorted F

N

Morning N

Well now running with another Virgin Media Super Hub modem - another new version - which is supposed to in perfect conditions deliver up to 152 Mbs - which so they say is over 10 times faster than most normal broadband system

Trouble is mine so far is only averaging 50 -60 Mbs - which is way better than it was - so I just hope to maintains this speed - and of course works day in day out

So far - so good - but lets see how next week goes 👍

Have a great weekend and meanwhile I am going to have fun on here and out later with the family etc

Regards


F

 

[Fugazsy]

I think the keys are

1 multi trading method - I mean not just 3 or 5 trades a day - but ideally 10 to 30 trades over say 5 -8 hrs

2. Targets - 7 -25+ pips and stops in profit on runners - ie a win / win then

3. Stops 3 -7 pips - but dont rely or use them - get out minus 2 or breakeven and re enter if it goes your way

4. No real bias - ie think - anything could happen - normally it does

5. Have targets and know when 3 or 4 bad trades in a row - stop for 30 -60 mins

6. Every 500 trades - you should get better

7. Dont lose more than 30% of your winnings - so if up $500 - you only have $150 max to carry on with in session

8, Never have a losing day - and if you do - ask yourself why ??? not enough winners or lack of time ??


Theres loads more - but the above works - ask MM 🙂

Good post

A systematic method is vital in scalping.

 

[Forexmospherian]

EU - End of play Friday evening 19th June 2015

I posted a chart before I finished with the new LitS area - second of the day - ie as below

This is an updated one now for end of session yesterday

Note the 2 LitS areas - defined by my longer LRs on the 1 minute

They give me session bias - ie they might last 2 hrs or 20 hrs + - but they can change during the day - as what happened yesterday with a Morning European bear bias and then after Midday and US session a bull bias afternoon evening

 

[Forexmospherian]

What ever happened to this Plonker ??

Just been looking back over the last month - just to see how many dissers/ haters and general non believers this thread gets and come across this multi nic member who seems to have disappeared in the wind - but I am sure will be back some day

What interested me the most with this member was his nic - ie 10000 hrs

Now any proper trader who as actually done their 10k hrs on the charts - which will take anything from 4 to 10 yrs to achieve - all depending out much time you spend a week - ie just 15 hrs a week or 50 + hrs a week - will know for certain - that I am the real deal and can read price with the very best in the business

OK - I dont think Major Magnum has achieved his 10k hrs yet - maybe 3k + BUT - he has been taught by me - and so thats saved him at least 5k hrs of having to find out all the things I found out whilst studying the 1 min charts during my first 3 years

Anyway - going back to the Plonker who posted that comment - you are completely wrong - and why dont you admit it - rather than run off and hide to another day.

Meanwhile I will just let MM's real live statements do the talking - after all he was the student - and now over 18 months later - he's going on to being mighty consistent - as well as extremely profitable on a small live account. I just hope he does NOT do what I did that set me back over 6 months - ie try over 20 -25 lots a pip and then get psyched out - stay with the small lots - and even never going over 3 lots a pip ( ie $30 a pip ) - he could still make over $10k+ per week on an ongoing basis - purely based on his results over the last 3 months etc

Dont let the Hedge Fund rubbish ( they only work with multi millions - not under $50k - ie chalk and cheese comparisons ) and compounding ( don't keep doing it ) - ruin an excellent strategy that takes easily 6 -9 months to learn - but once you have got it - its works day in day out in any market conditions - making it fairly unique - much to the annoyance of the dissers / haters / commercials etc etc

Regards


F

 

[NVP]

jees mate .......

you love an argument don't you ...😛.....havnt you got enough people already on your back most of the time 😆

N

 

[NVP]

you need to get in here next year .............you will love it !!!!

N

http://bigbrother.channel5.com/day-39-marc-and-helen-vs-everyone-else

 

[NickBk]

F,
I think you care too much about the haters.

A lot of people have set ways and think only at a certain level, others through their own failure want others to fail too, to validate their view of how difficult it can be. Then, as I mentioned before, we have people who are too lazy and even if they thought following something might be worthwhile they would not put the time required to make it happen.
Most people unfortunately fall in to some versions of the above and would like to pay $299 for a full proof system and click buttons without responsibility until it goes wrong and then they are not to blame other than they bought the wrong system and can try again. Many are gamblers, not to be confused with traders and then many here it appears are just total bonkers. I have read many thoughts and wonder of their logic and find they did not trade the idea themselves or are paper trading. (not to have a go at all paper traders, but I believe people do not make the same decisions with real money and lessons are learned faster when there is some pain).

I have been trading on and off for 20+ years and have recently (year or so but more this year) been scalping mainly Dax. I look at just a couple of things to aid me and the rest as you say is coalface experience, I don't trade what I think, I just trade what I see. I can watch the action and could draw my own graph of what I have seen. I am sure you can understand me as some other guys writing here can. Last week I had 450+ Dax trades at a win ratio of 85%. I also run my own business at the same time, so can miss half days etc.

It seems that people who trade successfully do not always frequent forums and many people who do are looking for holy grails or want others to fail so they feel ok. I think you have a good core of people who follow your thread who believe it to be beneficial and it is easy to see they are conscientious and put genuine effort to follow and understand what you do and even parts of what you do (then there are the people who believe in you and want the EU levels. I made good pips on EU and some on GU last week thanks).

The haters well they gonna hate here or elsewhere in life and are not open to improvement or to learn something different. For people to comment without putting in a decent effort to try and understand is just ignorant. This is life but in the interwebz people get braver and ruder as they wont get a stiff arm to the jaw.

So it might be annoying but try and block out the haters as it takes your effort and from a selfish point of view clogs your thread when I refresh i hope to read something relevant and not just crap.
Anyway I for one have greatly enjoyed your thread to date and will continue to read and hopefully learn more from you. As I said before even the camaraderie from coming here and spending part of the day with sharing the travails of fellow traders is a lot of fun and makes a solitary business more fun.

Keep up with your remarkable posting ability and I hope to be able to keep up most days reading and joining in a bit more. Best of luck and good luck to all the regular friends of the thread.
Nick

 

[Shadowman540]

Just been looking back over the last month - just to see how many dissers/ haters and general non believers this thread gets and come across this multi nic member who seems to have disappeared in the wind - but I am sure will be back some day

What interested me the most with this member was his nic - ie 10000 hrs

Now any proper trader who as actually done their 10k hrs on the charts - which will take anything from 4 to 10 yrs to achieve - all depending out much time you spend a week - ie just 15 hrs a week or 50 + hrs a week - will know for certain - that I am the real deal and can read price with the very best in the business

OK - I dont think Major Magnum has achieved his 10k hrs yet - maybe 3k + BUT - he has been taught by me - and so thats saved him at least 5k hrs of having to find out all the things I found out whilst studying the 1 min charts during my first 3 years

Anyway - going back to the Plonker who posted that comment - you are completely wrong - and why dont you admit it - rather than run off and hide to another day.

Meanwhile I will just let MM's real live statements do the talking - after all he was the student - and now over 18 months later - he's going on to being mighty consistent - as well as extremely profitable on a small live account. I just hope he does NOT do what I did that set me back over 6 months - ie try over 20 -25 lots a pip and then get psyched out - stay with the small lots - and even never going over 3 lots a pip ( ie $30 a pip ) - he could still make over $10k+ per week on an ongoing basis - purely based on his results over the last 3 months etc

Dont let the Hedge Fund rubbish ( they only work with multi millions - not under $50k - ie chalk and cheese comparisons ) and compounding ( don't keep doing it ) - ruin an excellent strategy that takes easily 6 -9 months to learn - but once you have got it - its works day in day out in any market conditions - making it fairly unique - much to the annoyance of the dissers / haters / commercials etc etc

Regards


F,
Ive been rummaging around for ages after the swissy fall out for some kind of max position size ideas, I used to trade quite chunky £per point occasionally, but not after that fall out, (I don't trade the swissy at all), is that $30 per pip, based on a $40k account, I seem to recall you mentioning at one point or other.
Iam aware of the 1-2% risk rules but that can still give you a hefty position if your technical stop is quite small.
Apologies for jumping mid thread as it were.
Cheers

 

[tar]

Just ignore the haters , i make 500 pips plus day in day out and i dont care about these posts ....

 

[counter_violent]

Just ignore the haters , i make 500 pips plus day in day out and i dont care about these posts ....

You must be an expert retail forex trader then. 🙂

 

[Forexmospherian]

Just been looking back over the last month - just to see how many dissers/ haters and general non believers this thread gets and come across this multi nic member who seems to have disappeared in the wind - but I am sure will be back some day

What interested me the most with this member was his nic - ie 10000 hrs

Now any proper trader who as actually done their 10k hrs on the charts - which will take anything from 4 to 10 yrs to achieve - all depending out much time you spend a week - ie just 15 hrs a week or 50 + hrs a week - will know for certain - that I am the real deal and can read price with the very best in the business

OK - I dont think Major Magnum has achieved his 10k hrs yet - maybe 3k + BUT - he has been taught by me - and so thats saved him at least 5k hrs of having to find out all the things I found out whilst studying the 1 min charts during my first 3 years

Anyway - going back to the Plonker who posted that comment - you are completely wrong - and why dont you admit it - rather than run off and hide to another day.

Meanwhile I will just let MM's real live statements do the talking - after all he was the student - and now over 18 months later - he's going on to being mighty consistent - as well as extremely profitable on a small live account. I just hope he does NOT do what I did that set me back over 6 months - ie try over 20 -25 lots a pip and then get psyched out - stay with the small lots - and even never going over 3 lots a pip ( ie $30 a pip ) - he could still make over $10k+ per week on an ongoing basis - purely based on his results over the last 3 months etc

Dont let the Hedge Fund rubbish ( they only work with multi millions - not under $50k - ie chalk and cheese comparisons ) and compounding ( don't keep doing it ) - ruin an excellent strategy that takes easily 6 -9 months to learn - but once you have got it - its works day in day out in any market conditions - making it fairly unique - much to the annoyance of the dissers / haters / commercials etc etc

Regards


F,
Ive been rummaging around for ages after the swissy fall out for some kind of max position size ideas, I used to trade quite chunky £per point occasionally, but not after that fall out, (I don't trade the swissy at all), is that $30 per pip, based on a $40k account, I seem to recall you mentioning at one point or other.
Iam aware of the 1-2% risk rules but that can still give you a hefty position if your technical stop is quite small.
Apologies for jumping mid thread as it were.
Cheers

Hi Shadowman

It was back in 2008 /9 and I had an account at GFT Uk that I managed to get up to approx £170k.

I had gone up from 1 lot to 5 lots and then 10 lots per pip over 6 - 9 months with no real problem.

I then got too avaricious and wanted over £150 a pip which in those days was approx 22 lots. Unfortunately I hit a bad spell -ie first time I had 7 consecutive bad trades and my stops were then between 7 and 10 pips and if I remember correctly 2 of the bad trades spiked me for like 12 -14 pips and so suddenly the previous weeks profitable trading was blown out the water.

I was not used to big losses in a session and it did my head in .

It took me over 6 month to even try 5 lots per pip again. Since then I have kept under 10 lots a pip and most days don't even venture over 6 -8 lots with a £35 - 45 K capital account - which on an average 5 pip stop is still under 2%

In fact many of my scalps are on 0 3 to 1% of account size - as then no stress and I can treat my account like a demo - no palpitations etc ;-).

Once my stops are in profit I can then pyramid and peel and if I am up well and feeling comfortable scalp again up to 6 lots

I know far more about the market today then I did 6 years ago - but at my age not wanted to go anywhere near 20 + lot again. I stay within my comfort zone - and enjoy intraday trading and if any pressure mounts - just reduce size

Good Trading


Regards


F

 

[Forexmospherian]

F,
I think you care too much about the haters.

A lot of people have set ways and think only at a certain level, others through their own failure want others to fail too, to validate their view of how difficult it can be. Then, as I mentioned before, we have people who are too lazy and even if they thought following something might be worthwhile they would not put the time required to make it happen.
Most people unfortunately fall in to some versions of the above and would like to pay $299 for a full proof system and click buttons without responsibility until it goes wrong and then they are not to blame other than they bought the wrong system and can try again. Many are gamblers, not to be confused with traders and then many here it appears are just total bonkers. I have read many thoughts and wonder of their logic and find they did not trade the idea themselves or are paper trading. (not to have a go at all paper traders, but I believe people do not make the same decisions with real money and lessons are learned faster when there is some pain).

I have been trading on and off for 20+ years and have recently (year or so but more this year) been scalping mainly Dax. I look at just a couple of things to aid me and the rest as you say is coalface experience, I don't trade what I think, I just trade what I see. I can watch the action and could draw my own graph of what I have seen. I am sure you can understand me as some other guys writing here can. Last week I had 450+ Dax trades at a win ratio of 85%. I also run my own business at the same time, so can miss half days etc.

It seems that people who trade successfully do not always frequent forums and many people who do are looking for holy grails or want others to fail so they feel ok. I think you have a good core of people who follow your thread who believe it to be beneficial and it is easy to see they are conscientious and put genuine effort to follow and understand what you do and even parts of what you do (then there are the people who believe in you and want the EU levels. I made good pips on EU and some on GU last week thanks).

The haters well they gonna hate here or elsewhere in life and are not open to improvement or to learn something different. For people to comment without putting in a decent effort to try and understand is just ignorant. This is life but in the interwebz people get braver and ruder as they wont get a stiff arm to the jaw.

So it might be annoying but try and block out the haters as it takes your effort and from a selfish point of view clogs your thread when I refresh i hope to read something relevant and not just crap.
Anyway I for one have greatly enjoyed your thread to date and will continue to read and hopefully learn more from you. As I said before even the camaraderie from coming here and spending part of the day with sharing the travails of fellow traders is a lot of fun and makes a solitary business more fun.

Keep up with your remarkable posting ability and I hope to be able to keep up most days reading and joining in a bit more. Best of luck and good luck to all the regular friends of the thread.
Nick

Hi Nick

What you say and NVP as well is of course correct.

Because I am solely a FX trader - I have so much time on my hands - and i do get bored at times - so that's why I got involved with Forums over this last 3 or 4 years

I don't love courting trouble - but I always like giving back as good as I am attacked with bells on if possible - its part my nature - I have always bent rules and played on the "edge" and of course if I get the chance to have a good "tete to tete" with a disser - I love it ;-)

I never think I am always right and of course some days I just want to keep my head down and steer clear of arguments - as I really don't want anymore infringements and bans etc

But I must say - T2W does bring the worse out in me - simply because of its "laid back attitude" to arguments and members who deliberately want to "wind up" other members.

There is nothing wrong with having a laugh and a joke etc - its all part of life and so if the other jokers want to play that way - I am ready to have fun.

I am also very lucky I suppose - My last 15 years of work has made me very disciplined and I can switch on and off very quickly with my trading and emotions

I think I know the "limits" here - I am sure I will stray over them at times - but for 99% of the time I will always remain polite and helpful and a Gentleman to all other members - yes all of them ;-)

Cheers for the compliments again - and dont worry - I do listen as well ;-)

Have a good weekend

Regards

F

 

[tar]

You must be an expert retail forex trader then. 🙂

Yes

 

[Forexmospherian]

Yes

Well if T2W as had over 328,000 members over its many years - and expert intraday retail Forex traders are just a tenth of 1% - ie 0 1 % - well where are the other 326 or so ??

Not counted how many tutors and traders selling trading courses / methods and the like - but guess its well over a few thousand vendors this last decade or so

Also - if 80% + of members lose and don't last 5 yrs plus - well knock them off the 328k - and then we have 65k + who might be breaking even / making profits and if then 5% of those members are still trading profitably over the last three years thats still 3000+ members or so.

They are not going to be all in FX or full time etc - but again lets say just 10% - then that's another 300 members.

Can anyone name 30 of them then ??

Regards

F

 

[Camel Salesman]

Afternoon gents

Beer in hand and reviewing the past weeks trades, entries and exits and surrounding context and levels and of course price action.

So important. I only look at the losers... They're the hardest to look back on and it is easy to dig your head in the sand but you need to know what went wrong!

See you gents tomorrow, Monday should be interesting with the deadline for Greece. Maybe I should find another pair to trade, any recommendations F? 😆