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

[eagle75]

Hi Eagle

You are welcome on the thread

Would need to know your forex trading background etc first

Regards

F

knowing the market from 2005 !
but really have always been the loser in this business !
losing and losing ..
but now losing and win .. win then lose !
hope to be an profitable trader some day ..

(sorry for my english .. )

 

[Swedenfx]

QUOTE=Forexmospherian;2291904]Hi Swedenfx

Re Questions on the EU

I have attached 2 or my charts on the EU today

They are both 1 min - with showing full day and the other showing the time of your 3 buys this afternoon evening

I had not drilled down onto a tick chart but kept it to a bigger picture

First regarding the time windows - I need to explain them more to you

Some days - you can nearly take a trade off them - without lots of other clues

Today you needed to study PA more and also review the actual times you choose

If you have 18 mins to look at whether we can take a reverse trade - its a case in those 18 mins to find the time all lines up

I am aided by all my LRs

i know my charts are laughed at and look far too busy - which they are - but they end up giving me the accuracy I need

I can trade naked - but not half as well

Time is important - but also PA - ie HH's and HL's even on a 1 min chart - plus the main one - S & R's from interim levels given during the day

The more recent counts for me rather than just 4 hrs or Fibs etc

Question 2

Try and always be in from 3 pips from a high or low - 2 is better over 4 to slow

Normally the interim highs and lows come after a quick 3 to 10 pip move

Its watching PA over hundreds of hrs for a start on the tick or 1 min to get you more in tune

Then if you look on my charts - my LRs give me additional clues going over price to say scalp sell and under price for scalp buy

If you are able to get in within 2 or 3 pips and then you dont get a HH or LL which ever way - at least you are OK whilst above the low or below the high - even if the move is only 6 or 8 pips - you might catch and net 3-6 pips OK

I will explain more on sweet spot scalping - they are the moves that do say 12 -25 pips in under 15 minutes in time - when so many factors come together

I prefer say 3- 5 of those a day - if you can catch them rather than say 15 or 20 small scalps for only say 2 -7 pips

The ones you took were out on timing - circled better times - although yes its so easy in hindsight

But also all my longer Lrs were saying if the bounces up stay under say 15 pips - it will then drop again - so If I had been scalping all the EU from say 2 00 pm onwards to say 5 00 pm - i should have made more pips on scalp sells than scalp buys

Saying that any green pips are worthwhile - but its then choosing the better options

You will never be right all the while

today I had 3 small losses - other days I might have 2 or 4 - but over 15 -20 trades its no problem

I think MM will also be able to assist here now - as within 3 -4 months he has grasped the method well - and some days he is brilliant

Its just takes loads of practice and method along with ironing out you errors to get there

I will guarantee you that if you try every day - even on another account - (demo or live but small stakes) 10 -20 trades - by end of month you will improve and have learnt more

After 3 months its starts to make sense

After 6 months you should be discovering more yourself and even telling me ideas to improve.- its amazing how we all see different clues etc etc

Question 3

From 2 to 5 pm was a few more shorts for me rather than buys

But after 5 pm and 6 pm - it started to change - and if you got a free trade on after a scalp buy after say 5 pm at 3728 -30 - you would have made 15+ pip and can stay in if price stays above 33

I scalp buy and sell based on time - PA - S&R''s - money flows ( stop hunts) and get my directions from LR's and trendlines - as well as OS /OB on small frames

i am looking at waves within waves - I don't want really 2 pips waves- I want 10 -30 pip waves - and I never 100% can say a scalp will reach a target

You either take 100% off if you are happy after 7 or 10 or whatever pips - or lock in 2 or 3 pips on a trail - or take 70%+ off - allowing you the 30% still to go back to original stop - and still make a profit by the fact the 70% out trumps money wise the 30%

I hope that starts to make sense

All the best for March

Regards

F[/QUOTE]


Hi again. I forgot that you have UK time. The time for trade 1, 2 and 3 is 14.34, 15.34 and 17.05 in your chart. I am not that out of time at picking tops and bottoms

 

[Forexmospherian]

Hi Swedenfx and Eagle75

Thats good then Sweden if you being able to get near and work out interim tops and bottoms in any rally's

It can be done - but of course you need to get use to and acquire more experience at reading price in the "noise" - as so many traders don't even bother or try - and of course those are the ones that never see that "devil in the detail" - and will normally end up being tricked by the pairs real direction

Eagle - dont worry about your Englsh - that is fine - and if you have been trying since 2005 then yes - I can help you and will be doing so during this next month

I will try and explain more on this blog through the day - but make sure you catch up on the other thread which explains more pints in my method

All the best

F

 

[Forexmospherian]

Wednesday 5th March 2014 - Pre Opens

Morning Traders

I will be trying to explain more on why I do and dont take trades today in different pairs and of course at different times of the session

As you probably know - I don't trade the Asian session - unless I am already in a free trade with over 100+ pips already on it. If it only had 30 - 70 pips - i would tend to exit it to be safe prior 11 pm UK time

My priority everyday is just to make a profit ideally by achieving over 50 pips through normally at least 8 trades . If I have the time and i have a really bad AM session and say have 5 losses and only 2 wins - then I will be taking many more trades to break even and get over 50 pips There as been 9 occasions like that since November 2nd 2013 - but - NOT one losing outright day

If you are scalping and have 4 losing trades in a run - even if still under 20 pips - stop and have at least an hour or so off

Similar if you have over 10 wins in a row - stop an have a break - as you will get too confident and then lose focus etc etc

But most important dont even try scalping on a live account until you know how to do it and have at least a few hundred trades behind you with a 60% + win ratio

If you do 100 trades and only get say 55% win ratio - you are still not ready

OK

On to today

Update

EU - made 3782 ish yesterday - and then pulled back to 3725 area

Price now at 3731 - still scalp bearish under 36/ 37 - but we then need to breach 24 and test 18 and 3709 area

Above 3737 and 41 - then scalp buy land and price should try up and test 44 -48 area

Remember it will go one of these two ways eventually - but in between can still try and trick you on entry and direction

Please try and discard you own bias - only trade what you are seeing on your tick or 1 min chart along with the price clue and all the other ones we watch

Will do a quick review on other pairs as well and am here for the London Open this morning

Have a good day


Regards

F

PS - I like to pair my EU with the Swissy and the EJ - not so much GU nowadays

 

[Forexmospherian]

EU

I will post my chart as from 32 - EU was a scalp sell - but we need under 26 and 24 etc to hold on at the 7 00 am time window

Chart to follow

 

[Forexmospherian]

You will see on my chart that structure says lower under 33 and 31 now - but need under 24 at 7 03 onwards

 

[Forexmospherian]

Now my cut off is 29 and 31

Under there - still a scalp sell - but need under 24 still

 

[Forexmospherian]

EJ also the same from 34 to so far now 28

 

[Forexmospherian]

EU - out 70% at 28 - will only hold 30% on under 31

 

[Forexmospherian]

You will be able to follow this more when I post my EU chart during next say 10 mins or so

 

[Forexmospherian]

EU - 26 to 33 is a 7 pip tease zone

Price favours lower atm - but that totally changes - if we break up back above 34

Remember I take my 30% off at or under 31

 

[Forexmospherian]

While we watch the EU tease - similar Swissy want to break up higher - but also teasing atm

I would not trade swissy atm - as both are teasing - so you only want to be in one pair - until you see more clarity

 

[Forexmospherian]

Eu - price still now at 27

No under 26 and 24 - will just pull 30% - with 31 being my mental stop

 

[Forexmospherian]

Notice EJ as turned and become a nice scalp buy - whilst we wait EU to move

That is one of the reasons why the EU is teasing - not all the ducks are in a row atm

 

[Forexmospherian]

EU - 27 to 30 is such a tight tease - will exit at 285 - not going anywhere yet

 

[Forexmospherian]

When you see the chart you will see how the structure as been changing after 7 10 am - very slowly - but supports are trying to form above 26

 

[Forexmospherian]

From 6 51 am - start of time window - Eu had peaked at 326.- so then time and Lrs said sell knowing we needed under 26 and then 24 to hold it on longer

We then have 20 mins of going nowhere

its shook me out - as i want profit - even just few pips - rather then negative 1 or 3 or worse case scenario 5 pips

But during those 20 mins or so - the devil is in the minute detail

ie HL at 27 - then HH at 29

All clues to come out scalp sell

Dont worry I will be posting this chart - but want you to have more on it first so you can follow what i am doing

We are still in between 26 and 33 - but as already said early on

We have to go and break and go one way or the other at some time

For now no under 26

So will we go over 33 and 34 ???

 

[Forexmospherian]

EU - price now made 337 and another HH

 

[Forexmospherian]

EU - above 305 - still scalp bullish - but as we know we need to go above 34+

Then do we lock profit in - or take all off ?

 

[Forexmospherian]

EU - price now at 7.31 am at 3736

Please just do not jump in here

If you got in at 29 or 30 or 31 - great - but above 35 now too late

wait to see if it stays above 305 to scalp buy again