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

[Forexmospherian]

12 15 pm

Will update UCad chart later on along with a EU one

Red news again at 1 30 pm and 3 00 pm

Will try and be around for both

Off for early lunch

See you later and stay focused

 

[NVP]

Ucad chart

Lovely rise this morning then after 10 30 TW and after 10 51am - start of next TW - nice fall

Now looking for supports to hold on a scalp buy

Under supports and then under 1250 would be more scalp sells

QUOTE]

yep .........the usd bull ride lasted until around 10.15am...........since then its been a sell all the way back down to around the weeks low now.......jees ......rollercoaster !

 

[Forexmospherian]

1 27 pm

Back for news

 

[Forexmospherian]

EU and EJ both still atm bullish with Ucad breaking under its supports - showing more dollar weakness - prior to news

 

[Forexmospherian]

1 30 pm

More dollar weakness on first spike

EU trying now 2500 ?

 

[MajorMagnuM]

wow i just got massacred. stupid mistake. back to demo

 

[NVP]

I think I will post a UCad chart over this morning session

Although only had one trade on it - missed the main rise - its been technically nice

the usdcad has been volatile today .......but the sweet spot is shown below...all other action was really where the USD and CAD were fundamentally positively correlated (same direction) so pips were being generated purely off of relative strengths in same direction (like 2 cars racing alongside each other....some differentials..... but not the sweet meat)

what I look for is major negative correlation ........(2 cars driving away from each other in opposite directions) that's where the bucks are

like from 10.30 today

note see final conclusion on this below :-
http://www.trade2win.com/boards/for...-basic-ideas-strategies-2271.html#post2442250

N

 

[Forexmospherian]

1 32 pm

GU near 5800 as well - but spikes not carried through atm - could be just false trick stuff - but we will know within - 5 -7 mins

 

[MajorMagnuM]

yes i sold the bottom, of that up bar. account wrecked

 

[Forexmospherian]

the usdcad has been volatile today .......but the sweet spot is shown below...all other action was really where the USD and CAD were fundamentally positively correlated (same direction) so pips were being generated purely off of relative strengths in same direction (like 2 cars racing alongside each other....some differentials..... but not the sweet meat)

what I look for is major negative correlation ........(2 cars driving away from each other in opposite directions) that's where the bucks are

like from 10.30 today

N

Interesting - but can understand why you cherry pick the pairs with the most negative correlations - I think the GA had that this early morning - Pound was strong here and Aussie was weak and then 130 pip rise after 7 00 am

Back in 10 mins or so

EU at 97 - still not quite at 2500

 

[MajorMagnuM]

****. final nail in coffin resold at 78 another 20 down

 

[Forexmospherian]

yes i sold the bottom, of that up bar. account wrecked

You mean 1 bad trade out of twenty lol

Yes still dollar weakness atm and GU / EU etc rises for now

Back for next hr TW

I am sure you will be backing firing on all cylinders in US session

GL

 

[MajorMagnuM]

i think thats it for me, if i can wreck my account in two trades after this much practice.........

 

[MajorMagnuM]

no. i obviouskly need to start at the beginning again. for me that was a sell.i did not cut my lossesearly. then tried to sell again. that is appalling stuff.

 

[NVP]

no. i obviouskly need to start at the beginning again. for me that was a sell.i did not cut my lossesearly. then tried to sell again. that is appalling stuff.

don't go too hard on yourself dude ..........ive seen the results youve been posting recently ...............that's top gun trading

I'm nowhere near your class re scalping .........so take a little time out and chill.........the markets will be there tomorrow

well technically its thanksgiving weekend ....but you know what I mean

N

 

[NVP]

yes i sold the bottom, of that up bar. account wrecked

stops ???

 

[MajorMagnuM]

stops ???

not been using hard stops as twice now lmax has taken them when price was up to 5 pips away. i should close my live account with them as i think if can make those mistakes and kill all my good results so quickly, then once again it is me that is the weak link. add that to provider grabbing my stops which are not even close then its all negative ev atm

 

[itspossible]

no. i obviouskly need to start at the beginning again. for me that was a sell.i did not cut my lossesearly. then tried to sell again. that is appalling stuff.

Ill have a chat later mate.I have done the same but on my demo-not cut losses quick enough.lost heart and thought god this aint worth the hassle.loss was only small on demo-£300.

 

[Forexmospherian]

not been using hard stops as twice now lmax has taken them when price was up to 5 pips away. i should close my live account with them as i think if can make those mistakes and kill all my good results so quickly, then once again it is me that is the weak link. add that to provider grabbing my stops which are not even close then its all negative ev atm

Hi MM

Back now for an hour or so

I dont use hard stops as you know - one click in and out with mental soft stops at 3-7 pips max - under 5 pips normally and if need be a hard stop 25 pips away

I trade normally under 1 % - with a lot of scalps on 0 3 - 0 6 % stake of capital and so a great day for me with loads of wins etc might still only be under 4% in pure capital stake - not like say 10 -20% gain - if I was using 2% etc

I would use over 1% on accounts under 10k - but not over $50k + capital - as even half a percent on a 5 pip stop is still worth $50 a pip or 5 lots

So even with 4 bad scalps in a row - only lose from 1- 2% of capital - and thats if everyone went at least 5 pips in the red

I know you did a 27% increase on live money one day recently from what you posted on a $1k account - but really - dont look for more than 5% per day if you expect to trade 15 -20 times a month - as that is still a great return - without compounding

Interesting now though - even if you lost say 40 pips in total - I bet you can get that back between now and 5 00 pm ??

Dont try it if in revenge mode - relax as N mentioned - step by step and of course

DISCIPLINE

Stay focused


F

 

[Forexmospherian]

2 22 pm

EU

Topped for now at 2508 area at 1 40 pm ish

gone over 30 mins with no breach - but can try again after an hour normally

Supports at 2485 and 2470 - before more from 2445 - 50 area

Still in a bullish session structure above 2470 for me - to try higher again