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[scholfield]

short eurjpy 134.75
stop at 135

 

[Purple Brain]

Forexmospherian - not a problem for me, but this thread is really just for live trade calls - not methodologies. Perhaps you could start your own thread for the verbose stuff and just do your live calls here.

And you'll need to be sharper on your call-to-post delay as saying in your post it was 07:25 but the post timestamp showing 07:41 - 16 minutes later - is the sort of thing that will cause some to question your veracity.

 

[Purple Brain]

Forexmospherian - for clarity - you're not actually in any trades on gbp/usd at the moment?

You're saying if it goes above 6025 you'll go long with a 5 pip stop and a target of 10.

If it goes below 6008 you'll sell with a 5 pip stop and an undisclosed target.

Is that correct?

 

[Forexmospherian]

Trading for absolute small profits - your comment P B - well if you count trades with RR's of 3 plus - ie over 15 pips and as much as over $1000 as small absolute profits - then you are not thinking this game out.

Accuracy is required - reading price in the "noise" is possible - as I will show you - and as you probably do know - there are lots of movements of 7 -25 pips on most pairs every day - so thats what i go for and catch - normally with less than 1% stake of my capital size - that can still be easily $50-70 a pip simple because I am using a $70k capital account ;-)

 

[Forexmospherian]

For accuracy - i actually scalp bought at 6009 and am holding that trade - but will exit if 25 is not breached, but we cannot count that for this exercise,

So yes over 25 I would be saying its a scalp buy - enter on any pullback of 3 or 5 pips - and under 6008 - look for scalp sells to sell down to 6000.

Trading is not always black and white - the market is dynamic - so I will go with the flows and reading the tick and one min etc - please understand I expect the GU to try over 6025 during next 10 mins.

If it does not then I only look at scalp selling and holding - if price goes under 6008

I hope that give you a bit more clarity

 

[Purple Brain]

gbp/usd just hit 25. You're in with a 5 pip stop. So if it comes back to 20 before it hits 35, you've lost. Right? I reckon you're about 50/50 with this one. LOL.

 

[Forexmospherian]

Ok - i appreciate you just want live calls not the methodologies etc - so during the morning - i will do just some live calls - as least 2 mins before entries

I will have to start another post to explain more - when I typed that first post this morning it was 7.25 and when I posted it was 7.38 on my clock - so we do have a small time issue there - which I know for scalping can be a nuisance - but dont worry - once you see how good I am - you will allow for this ;-)

 

[Purple Brain]

For accuracy - i actually scalp bought at 6009 and am holding that trade - but will exit if 25 is not breached, but we cannot count that for this exercise,

So yes over 25 I would be saying its a scalp buy - enter on any pullback of 3 or 5 pips - and under 6008 - look for scalp sells to sell down to 6000.

Trading is not always black and white - the market is dynamic - so I will go with the flows and reading the tick and one min etc - please understand I expect the GU to try over 6025 during next 10 mins.

If it does not then I only look at scalp selling and holding - if price goes under 6008

I hope that give you a bit more clarity

When did you buy at 6009? You forgot to tell us.

Tell you what, I'll just sit back and watch.

 

[Forexmospherian]

50 /50 - rubbish ;-) I read price and can explain why there was a 80% certainty of why price would try over 6025

I appreciate you have a lot to learn - and sorry it would take months for me to get you going into the depths required

Just out of interest - how long have you been trading - and have you ever spent 100 hrs plus watching the small time frames ??

After 11 yrs and over 15k hrs of watching screens - plus over 12k trades of which 7000 have been with stops of only 5 pips - I think I know what I am on about ;-)

Yes I did peak at 22 full lots - over 4 yrs agO - I hit my trading wall and it psyched me out as I could not live with having 2 k losses in under 5 mins - so now I never trade over 12 full lots - under 100 pounds a pip - and by doing that I am more in my comfort zone

Ok my GU as hit 60327 and i need to take some profits and even look for a scalp sell if we dont go over 36

 

[Forexmospherian]

6036 now - OK take 70% off and then leave stop in at 26 - ie at 15 pip profit - so if it come under 26 - iam out fully with 25 pips at 70% stake and only 15 pips at 30% stake

If we stay above 26 and go over say 43 then I gain more ;-)

 

[Forexmospherian]

looking at some other pairs to scalp trade next

please if anyone wants me to look at a certain pair - let me know in next 15 mins

 

[Forexmospherian]

GU - well we made 6043 just - which as surprised me as I though we would struggle from 35 -40.

We have dynamic resistance in this area. Above 6046 - I will still hold this 30% stake i have on - but if we drop under 35 now will exit it - so would then be totally out the trade.

Half hour change in 6 mins - so might even be able to scalp sell from an high for a few pips - but would need to call that as it happens

 

[Forexmospherian]

GU - yes 6045 is the top for now - but could only be confirmed after 30 mins and if then price during next hr went under 6006. If it stays under for 30 mins - but stay above the low - it can still try over 45 again.

I cannot count scalp sell at 44 as it happened 3 mins ago - sorry got a problem on live quick scalp calls here - as there is a delay - I will only hold scalp sell if we go under 35 - if not I just exit with 5 -8 pips profit. I will be out if price tries over 46 and 48 though.= does that make sense ??

 

[Forexmospherian]

OK GU out at 38 for 2 reasons - I we did not go under 35 - and second I have to pop out for 30 mins so will not be back trading until next hr

Look forward to looking at some other pairs as well now

 

[Purple Brain]

short eurjpy 134.75
stop at 135

The Daily S1 at 134.83 seems to be providing resistance which is good news for your short. 62 the next barrier down. Do you have a target in mind as there appears to be a slew of s/r levels in the 134.50 area.

Good luck with this one.

 

[scholfield]

The Daily S1 at 134.83 seems to be providing resistance which is good news for your short. 62 the next barrier down. Do you have a target in mind as there appears to be a slew of s/r levels in the 134.50 area.

Good luck with this one.

I'm looking for the 134.35 area hopefully.
p.s - did you get my PM the other day? (i'm trying to flog you a course for a few K)

 

[Purple Brain]

I'm looking for the 134.35 area hopefully.

Let's hope the Italian unemployment data is bad.

 

[scholfield]

For the record, Every trade I take in this thread at the moment is based on a very different method to what I have used before in this thread, and different to what I still use in my oil trading.

Bit of an experiment, loosely based on my interpretation of the way fxpunt trades.(i've been impressed with his trades).
I've had a fairly good patch recently. Bit of a dodgy patch over the last few days, though.
We'll see how it goes.

 

[scholfield]

short eurjpy 134.75
stop at 135

covering that here at 134.40 for +35

 

[Forexmospherian]

covering that here at 134.40 for +35

Hi Schofield - nice EJ trade and WD. We have just gone past the hour change and have a lot of supports in the 134 - 14 - 22 area so would expect it to bounce before the big number at 134.00.

Under 134.60 - its still in down bias - but I might look at a scalp buy for 10 -30 pips before 134.14 as the fall as been a nice one - and its about time the market took some back via stop hunting bears trailing stops.

Will tell you if and when I think a scalp buy is on

Have a good day

Regards

Forexmospherian