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

[Forexmospherian]

GU - moved 30% stop down to 63

 

[Forexmospherian]

If no 55 in next 3 mins - will take all off under 60

 

[Forexmospherian]

Out 58 - as really that was a scalp buy - but not jumped into that trade for now

 

[Forexmospherian]

forexmospherian do you trade or do you just provide advisories?

H ballard

I am a full time intraday FX trader - have been forex trading for 11 years and 6 yrs full time

Have taken nearly 14k live trades and average some where between 10 and 20 trades per day - on up to 3 accounts

So yes I do live trade as well as blog - as it helps me focus and keeps me under pressure to perform

Hope that helps

Regards

F

 

[Forexmospherian]

Out 58 - as really that was a scalp buy - but not jumped into that trade for now

10 mins later - i wish I had jumped in GU scalp buy - bu99er lol

I thought it might test 55 again instead clean rise above 61 and now at 78 - shame

Too slow ...... - old age lol

 

[Forexmospherian]

CAD news in approx an hour along with US news an hr and half later

CAD peaked at 71 area and currently 1153

 

[Forexmospherian]

EU - in tease zone - above 3708 scalp buy with 14 /15 as R - so need over 16 to hold a scalp buy on - and back under 3707 and 04 more scalp sells

 

[Forexmospherian]

3709 is my crunch price - price above favours scalp buys - below - scalp sells

 

[Forexmospherian]

what stop size do you use on your scalps?

All trades - even my 30% "free trades" start off with stops from 3 pip to 7 pips max - depending on spreads on pairs - as I count them in the stop

So on AU and EU with spreads under 1 pip - 3- 5 pips are sufficient to know if the trade is worth holding or not

On GU / EJ / EA / GJ etc then 5 -7 pips max stops

Some time I pull just up 2 pips or down 2 pips if I have entered and trade does not like I have the timing correct

My stops are not hard - as I watch with one click entries and exits - but I do place hard stops 20 -25 pips away from the action as extra caution - just in case of a black swan event

Targets are from 5 -25+ pips - most scalp finish under 15 -30 mins

If i get over 10 -15 pips on a scalp might leave on longer with a 30% stake free trade with stop in profit - so I can then leave and its safe what ever happens

Any trade with a positive RR over 1 is good so all my scalps over say 7 pips arte good earners and say a 16 pip trade makes a RR of 3 - equivalent of a swing trader with a 40 pip stop making say 122 pip - just to make same profit % as me

Hope that helps

Regards

F

 

[Forexmospherian]

EU - have it now in a BT tease zone from 3700 to 3720 - 20 pips - under 09 favours lower - over 09 and 14 favours higher - but atm 13 and 07 are 2 main prices that could make a difference

 

[Forexmospherian]

CAD - approx half hr to news and a new high at 72/3

 

[Forexmospherian]

Gu - interim top at 88 - 84 scalp sell need under 72 to hold on

 

[Forexmospherian]

so you must get a lot of small losing trades if you only allow minor movement against you or are you just very good at entry?

how many pips do you typically make on your scalps and how long are you typically in each trade?

Sorry did add some more on as well to original comments

My win ratios range - based on lots of 100 trades based on over last 7000 trades

From a low of 62-63% - to a high of 87% - so on average 70 -75% win ratio

On say 15 trades - some days I have 2 or 3 small losses

On other days 4 - 6 bad scalps - but even 6 bad scalps in a day might only add up to 20 -25 pip total

Yesterday I made over 220 pips with help of free trades and a bit of luck

My daily target is 50 pips

Might take 8 trades - might take 20 - but normally - i get there

Regards

F

 

[Forexmospherian]

Cad now made 80 and EU under 07 - needs now under 03

 

[Forexmospherian]

Gu - interim top at 88 - 84 scalp sell need under 72 to hold on

GU taken all off scalp sell at 70 - need under 65 to scalp sell again

 

[Forexmospherian]

Approx 10 mins to Cad Red news

EU still in its tease zone - maybe any news might be used as excuse to trick traders on EU

 

[Forexmospherian]

By rights - EU should fall - Swissy should rise again - GU should try higher etc

But that's maybe how the market is just setting up a false sentiment

I only want to go with extra clues and atm - non are firm on EU

 

[Forexmospherian]

Cad - have not got a clue what that will do at news

Its in a bullish scalp mode and would need under 1160 and 50 to start taking scalp sells

 

[Forexmospherian]

EA and AU

Not been watching these pairs last hr or so - i dont know why - but EA made a lovely rise from 12.30 and 1 00 pm time windows - 40 + pips - and have not got a single one - I would sack me if I was the boss lol

 

[Forexmospherian]

CAD news - so far tried 1194 now dropped and under 60 and 50 - so should scalp sell - but now need to stay under 80 and go under 40 - if not forget