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

[NVP]

ok back later

 

[NVP]

hey all .......usd has been climbing steadily again since 9.48/9 bu I in truth didn't get interested since just before 10am bar change

gbp has sold off a lot and i'm still chasing it down since around 27/28

selling the euro , cad and chf all fine trading since 10am ish but some better than others

been down to 99 so far so still running her

 

[NVP]

I see Tar is calling live calls again on a new thread ............some losses appearing which actually makes me respect his calls ...........he never lost a call on this thread which in truth was becoming ludicrous

respect
N

 

[Forexmospherian]

6 33 am

LitS areas on some key FX pairs

These are levels that assist me with the session price structure and bias . Above the LitS areas favours buys as the pair is in a bullish PS - whereas under the LitS area - the opposite .

In any area we can both scalp buy and scalp sell with PA but the bias off the PS should give us better trades with the correct direction.


EU - 0978 - 0990 ish

GU - 5510 - 5520 ish

EJ - 135 75 - 135 90 ish

UChf - 9610 - 9625 ish

GJ - 191 95 - 192 15 ish

UJ - 123 75 - 123 95 ish

AU - 7270 - 7290 ish

UCad - 3045 - 3065 ish

LitS areas from 4 hrs ago

EU - price went up above 100+ pips from LitS - anything over 50 pips and you have done well

GU - teasing both ways - so not so good for leaving om

EJ - again another 100+ pips above LitS - anything over 50 pips and you have done well

UChf - 70 pip fall with dollar weakness and EU rising - anything over 35 pips you have done well

GJ & UJ - 60 pips down on one and over 40 pips on UJ

AU - not enough outside the LitS of interest

UCad - 50 pips at most anything over 25 pips on that pair and again you have done well

So out of 8 pairs - just 4 pairs could have made you over 200 pips so far - by scalping and leaving part stake on in profit

I have taken profits off 3 pairs so far - others pairs i will now review to see if I am too late to jump on the bias or not

 

[Forexmospherian]

I see Tar is calling live calls again on a new thread ............some losses appearing which actually makes me respect his calls ...........he never lost a call on this thread which in truth was becoming ludicrous

respect
N

Morning N

Well we know every proper trader will have losses - whether they have a win ratio of just 50% or as high as 90%. I know Tar as always used stops - of different sizes etc and anything non FX I would not really have a clue on etc

Those who don't use any stops are just kidding themselves over time - OK they might go even a year or two with no apparent losses - but its hardly efficient if the stake size as to be adjusted to accommodate 500 pip moves again you

I never worry about my losses - as long as they are under 5 pips and ideally under 3 pips - it concentrates your mind and your focus on getting your timing correct - otherwise you just say - i am wrong at that time - find another time and price

If tar is showing losses on larger stops - agree - showing credibility and respect etc


Regards


F

 

[NVP]

LitS areas from 4 hrs ago

EU - price went up above 100+ pips from LitS - anything over 50 pips and you have done well

GU - teasing both ways - so not so good for leaving om

EJ - again another 100+ pips above LitS - anything over 50 pips and you have done well

UChf - 70 pip fall with dollar weakness and EU rising - anything over 35 pips you have done well

GJ & UJ - 60 pips down on one and over 40 pips on UJ

AU - not enough outside the LitS of interest

UCad - 50 pips at most anything over 25 pips on that pair and again you have done well

So out of 8 pairs - just 4 pairs could have made you over 200 pips so far - by scalping and leaving part stake on in profit

I have taken profits of 3 pairs so far - others pairs i will now review to see if I am too late to jump on the bias or not

supporting F's post here - the last 4 hours have seen some nice sells on usd ...................you can easily scalp buy usd in between (as I did recently) but overall if you are running trades the usd sell was the way to do it as F says .................eu has could easily deliver 50 pips for anyone running it

others again all good returns for the patient trader :smart:

N

 

[NVP]

Morning N

Well we know every proper trader will have losses - whether they have a win ratio of just 50% or as high as 90%. I know Tar as always used stops - of different sizes etc and anything non FX I would not really have a clue on etc

Those who don't use any stops are just kidding themselves over time - OK they might go even a year or two with no apparent losses - but its hardly efficient if the stake size as to be adjusted to accommodate 500 pip moves again you

I never worry about my losses - as long as they are under 5 pips and ideally under 3 pips - it concentrates your mind and your focus on getting your timing correct - otherwise you just say - i am wrong at that time - find another time and price

If tar is showing losses on larger stops - agree - showing credibility and respect etc


Regards


F

agreed - Tar doesn't give a hoot what we think anyway as an independent trader but I was struggling with seeing hundreds of points and win after win on 3 pip stops on this thread

in his new thread he is going -20 -30 pips down on trades (not just forex) ..............so more real already

http://www.trade2win.com/boards/trading-journals/207924-just-trades-2.html#post2593186

good luck to him anyway .we all have our paths to walk

N

 

[Forexmospherian]

GU

10 58 am

I still favour sells under 5530 area

We know we need under 5500 and 5490 to hold sells on - as those supports have worked before

Above 5530 and 40 then I will be a Pound bull and buying more for tries above 5550

The scalp LitS is 5520/23 area - ie under scalp sells bias and overs scalp buy bias

 

[Forexmospherian]

agreed - Tar doesn't give a hoot what we think anyway as an independent trader but I was struggling with seeing hundreds of points and win after win on 3 pip stops on this thread

in his new thread he is going -20 -30 pips down on trades ..............strange turn of events ?

http://www.trade2win.com/boards/trading-journals/207924-just-trades-2.html#post2593186

good luck to him anyway .we all have our paths to walk

N

I believe on some indices instruments etc you cannot get away with just 5 pip / or ticks and the ones that might move 100 pips/ points in 15 - 30 mins etc I can understand you needing larger stops etc for the "noise" etc etc

That's why I would not bother scalping some FX pairs with spreads over 8 or 10 + you might get 2 or 3 times larger moves - but give me spreads of 0 3 to 3 pips any day ;-)

 

[Forexmospherian]

EJ

11 05 am

Need over 136 76 and 83 to be scalp buying more

Price at 136 62 atm and under 73/74 still in a scalp sell bias to supports at 45/50 -

 

[NVP]

5511 for gu is a dig buy...............

 

[NVP]

ucad sells from 94............sorry re late calls - trade first post later

 

[NVP]

more usd sells playing into F's calls from 4 hours back !!!

 

[NVP]

5511 for gu is a dig buy...............

28

 

[NVP]

ucad sells from 94............sorry re late calls - trade first post later

got to 85

 

[NVP]

of course I lose trades ...far more wasteful than F ever is ..........but mainly I do ok .......warts and all is the only way to post at T2win .............otherwise why bother ?

 

[morgan_edge]

I was struggling with seeing hundreds of points and win after win on 3 pip stops on this thread


N

it's possible. MajorMagnum appears to do the same. Hundreds of pips per day and almost never has a losing trade.

Although I know what you mean. I've never seen someone do anything like that in realtime

 

[Forexmospherian]

of course I lose trades ...far more wasteful than F ever is ..........but mainly I do ok .......warts and all is the only way to post at T2win .............otherwise why bother ?

Not every trade you take can be posted in advance when you are scalping or short term trading etc.

But once you have a feel of how another trader member trades - then you know what more than likely he / she is doing

If I am in a good profit on a part stake trade I dont mind it going 5 or 15 or even 50 pips against me as long as the stop is in a profit and quite happy to scalp against my existing part stake trades

That part caused a lot of confusion initially N - as many just could not understand what I was up to etc.

Hopefully now they know what I try and do - and if I get it wrong on part stakes - normally I still walk away with a small pip profit

For me this morning - I have had over 110 pips on 30% stakes this morning - but really only the same as 30+ pips of a good 1 or 2 scalps at 100% stake size and really all we bother about is the money - not the number of pips etc

 

[Forexmospherian]

it's possible. MajorMagnum appears to do the same. Hundreds of pips per day and almost never has a losing trade.

Although I know what you mean. I've never seen someone do anything like that in realtime

With MM though its all down to his scalping skill and entering trades with multi stakes

So what happen instead of seeing one trade lasting 1 hr with say 45 pips - Major M will have 3 to 6 entries that he P & P's and can then show on his pip statement anything from 3 to 6 + trades that might add up to 150+ pips just off a 45 pip move

 

[Forexmospherian]

AU

11 30

We need back over 7300 and 7305 to be holding any scalp buys or taking new ones

Under 7280 and 75 - scalp sells

in that 20 + pips in between scalp if you must -- or just wait for more clues