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

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guys im really swamped with stuff on the home front atm. this time of year everything gets busy. going to cut the back log of tasks to be sorted out. gl trading
 
Hi FXJ

Yes forgot your time difference - meanwhile the Portugal v Germany match took my attention for longer than I thought.

EU as far as I am concerned still trying a turn up using the 3503 and 3513 areas as supports.

Next crunch point for me 3585 -90 - but need to stay above 3555 -8 meanwhile

GU - LH at 6994 after 7011 - above 6975-78 still in a session scalp bullish mode

EJ - above 138 03 still bullish - but need to breach the 30 area to hold scalp buys on for higher


AU and EA - back to how they were early AM - AU around 9400 and EA falling but needing under 4420 to hold scalp sells on longer

Will check after next hr - back to the footy for now ;-))
 
MajorMagnuM said:
guys im really swamped with stuff on the home front atm. this time of year everything gets busy. going to cut the back log of tasks to be sorted out. gl trading
Click to expand...

Hi MM

Wondered how you were getting on

Yes can understand if busy with your other commitments

Should be around to end of month but away for a few breaks from mid July through to September

Speak to you soon

REgards


F
 
Tuesday 17th June 2014 - Pre Opens

Good Morning FX Intraday Traders

Before I update - review and suggest intraday scalp trades I am looking at - I think its about time I update a few points for any new members following

1. First of all - this thread is not really for total newbie traders with less than say a year or two of basic trading experience etc

2. I an predominately a full time intraday scalper taking 10 -20 trades a day on purely main FX pairs - using stops of 3 -7 pips ( 5 pips on average) and aiming for targets of 7 -25+ pips - ideally under 30 mins.

3. I use advanced money management methods and in most cases leave 30% stake on with stops already in profit if I see the possibility of larger moves working.

4. On average based on multi thousands of scalps over many years my success rate based on batches of 100 trades - ranges from a low 62% to a high 87% - so 70 -75% is maybe a mean average. I can have some days when I take say 14 trades and get 100% correct - other days I can have 2- 4 bad losing trades - but losses are part of the game - you just keep them as small as possible and accept them

5. I am not a trade advisory thread - the main reason I share my day is because it helps me to focus as trading can be very boring - and its good keep notes and look back

6. In busy periods and if we have say 2- 4 traders all commenting - please refresh your browser every 30 seconds to update and see all the comments

7. I trade normally in both directions and if I dont make a minimum 5 or 7 pips target - I will pull with any profit. PROFIT is my main goal - ie not to have losing days - my normal target daily target is 50 pips - some days it's easy and I can make 70 -200+ pips - other days I can take say 17 trades - and struggle to make 40 pips

8 All questions are welcome -as long as they are about intraday forex trading etc

9. I dont do one to one coaching etc etc - but will try and help and assist if I can

Good Luck - have a great day - I normally do :)


Regards


F
 
First comments on NEWS

Last night news changed the AU direction and it dropped over 50 pips - whilst the EA rose approx 65 + pips

This morning we have 2 main RED News announcements at 9 30 am on the Pound ( GU ) and then at 10 00 am UK time on the EU. Then at lunch more red news on the US dollar

So quite a busy news day - hopefully - we should see some good movements etc
 
EU

Price atm at 3563.

So far we have a low at 3503 and then the latest HL at 3513. Supports seem strong so far at 3510 -3515 area - with the main R for higher at 3580-85 and then approx 3603.

I will be scalping in both directions through out the day - with my main bias based around a line in teh sand area of 3540 -50. Above these prices I favour scalp buying and 3580+ being tested.

Below both 3550 and 40 - then maybe a HL again at 3520 -30 area - or a test on 3513 and 3503 - but I favour scalp sells more when under 50 and 40

The EU is no longer my favourite scalping pair - I nowdays prefer the EJ and even the EA - yes slightly higher spread costs ( mine average from 0 3 to 2 pips on all the ones I scalp ) but the EA and EJ move more and are normally less manipulated by the liquidity suppliers and HFT

From 6 30 am and 3557 - the EU was a scalp buy - we need to see over 67 to hold on longer
 
GU

Yesterday we saw 7011 as a new high

Price then dropped to 6958 -60 area and is currently back at 6975. It needs over 88 and 95 to being trying 7000+ again - whereas under 6967 then its more scalp sells to test the 55 -60 support area.

I still favour higher and therefore might look for more scalp buys than sells - but of 6950 was to let go - then my bias would be changed again.

News at 9 30 am - so will be on this pair after I am back in next hr - as out for 30 mins around 8 am

For now above 6970 it favours scalp buys
 
EJ

This last year - my intraday trading favourite - but that does not mean every day will be action filled - some can be great - other times even the EU and AU move more ;-)

Price atm at 138 26. Above 35 and 38 - scalp buy - under 21 and 18 get scalp selling.

Will be updating this pair normally at least twice an hour - and would be looking for 3 -7 scalps on it during the day.
 
GU

I am down to 30% stake on my scalp buy - as approaching R areas at the half hr window.

84 to 89 could be the area to scalp sell
 
AU and EA

With EA at 4500 area and AU at 9350 - both barriers - so maybe pullbacks or retraces soon.

Not in either atm - but keep an eye to see if its time for a change
 
GU

Now at 6983 - still in 30% scalp buy but would pull if we drop under 80 now.

I reckon 85 -89 could be a test and then a scalp sell

If we breach 92 and 95 - forget scalp sells then as we would be breached the R area
 
GU

price resting at 83 to 84

Out for 30 mins before 8 00 am - so will be taking scalp buy off before then - but will not be entering scalp sell - as I will be away from my desk

It is scalp bullish above 75 - so any pullbacks staying above 75 can be scalp bought again

As i close this comment price now 6986 - and I will take it for now

GL - see you in next hour
 
8 56 am

Just back - bad traffic today - nightmare road works ;-(

Will check out and update - and GU news in approx 30 mins

PS - Morning BP
 
Last edited:
GU

Well so far - consistent to plan - 6987 interim top - then you scalp sold and re scalp bought at 75

Shame I was not here to do that - but I came out my scalp buy at 85/6 prior LO

Question now - will be breach above 88 and 95 next - or drop ??

Although news is 30 min away - sometimes you get set up moves prior - so stay in scalp buy whilst price is above 77/78
 
GU

Presently - a scalp sell under 3562 - but as mentioned already my line in the sand is 40 -50 area

Will be concentrating on GU next 30 mins - but will be trying scalps in EU and EJ as well
 
15 mins to GU news - and atm - boring

GU I still want to be scalp buying above 6960 and 70 - but as we know we need now above 84 - 88 and 95 to have any chance trying 7000+

The fact we have LH's is not encouraging - but no LL for now

I will not be in a GU trade for the news - but depending on the reaction - will be within the 9 time window after 9 30 am

meanwhile other pairs - EU and EJ still scalp bullish - not needed 23-25 for EJ to scalp buy - 28 was OK
 
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