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

[Forexmospherian]

Will go through other comments later and answer

I must say before I leave - if you can get used to PA on a tick chart over several weeks and months - you will never be scared of any PA etc

You just get used to it and then even a 5 min chart becomes super slow

Will come back to you MM and Nvp a bit later

 

[sunwest3d]

After this afternoon of Massage I am feeling very zen. Also Tick chart in slow session (night time in EU etc.) may have only 1 bar for 2-3-5 minute if movement is real slow so it actually shows you a better representation in those quiet time.
I need to go for dinner see you later guys

 

[MajorMagnuM]

yes thsanks for your help

 

[MajorMagnuM]

After this afternoon of Massage I am feeling very zen. Also Tick chart in slow session (night time in EU etc.) may have only 1 bar for 2-3-5 minute if movement is real slow so it actually shows you a better representation in those quiet time.
I need to go for dinner see you later guys

ok kind of the converse of the reason to use it in fast times...

 

[sunwest3d]

ok kind of the converse of the reason to use it in fast times...

Yes exactly and your indicators will also work better instead of flat lining a very slow ZZZZzzzZZZ period.

 

[montmorencyt2w]

I don't know what F. thinks about that but since I switched to the FxPro cTrader and been able to use different tick level data it opened my eyes even more.
Before I was limited to 1m chart too. I have heard other people say that when they started having access to tick level data it took their trading to another level.

I may be off the wall here, but I wonder if you can relate this to using volume - there are definitely some aficionados of Volume in FX out there (even if it's "only" tick volume). By the same token, might those without access to tick charts benefit from using volume?

 

[sunwest3d]

I may be off the wall here, but I wonder if you can relate this to using volume - there are definitely some aficionados of Volume in FX out there (even if it's "only" tick volume). By the same token, might those without access to tick charts benefit from using volume?

Good point, I have never looked too deeply into tick volume but that may help you yes. I have seen some methods using volume in the past but never really tried .
Perhaps someone else can provide better insight on that.

 

[MajorMagnuM]

I may be off the wall here, but I wonder if you can relate this to using volume - there are definitely some aficionados of Volume in FX out there (even if it's "only" tick volume). By the same token, might those without access to tick charts benefit from using volume?

i have looked into volume very deeply. vsa etc

 

[MajorMagnuM]

more results using ticks

 

[sunwest3d]

more results using ticks

Pretty positive results nice but then again you have a very good %win normally.

 

[Forexmospherian]

2 20pm

Notice all 3 - EU / GU and AU have bullish price structure for start of US session

We now need to see new highs again - but the markets is doing its best not to show what is happening

Yen crosses - mixed and yen is not as weak as its been for now

Can you see the bullish price structure on AU as well atm ??

AU - 2min chart top show structure change

Most of this week its fell - bounces have been mostly under 25 pips or so

Today it went up over 70 pips from its low at pre LO

7 51am - would have been the scalp buy you could have held on - problem for me was the news announcements this morning

 

[Forexmospherian]

Will pop back in a bit and go through any points etc

Well Done MM on your tick and glad you got the problem solved OK

 

[Forexmospherian]

I am suppose to go away next week for about 4 days - unfortunately wife's mum had to go into hospital today - a bit of an emergency as she's 87 - and her dad is 94 - might be change of plans ?

 

[sunwest3d]

I am suppose to go away next week for about 4 days - unfortunately wife's mum had to go into hospital today - a bit of an emergency as she's 87 - and her dad is 94 - might be change of plans ?

Oh dear Forexmospherian, hope it is not too serious and she can get better and recover quickly. Forex and holiday can wait I guess...

 

[Forexmospherian]

Oh dear Forexmospherian, hope it is not too serious and she can get better and recover quickly. Forex and holiday can wait I guess...

Very true - keeping our fingers crossed she will be out over weekend

See you tomorrow SW - lets see if we can finish the week off with another good day

Regards


F

 

[sunwest3d]

ok kind of the converse of the reason to use it in fast times...

Ok I found the perfect example to demonstrate my point EU from 4.50pm to 9.50pm (5 hours). Picture explains everything
Just by adding a typical average 95 LR and showing a tick chart (top left) a 2 min chart (top right) and 1 min (bottom) you can see the main advantages.
With the tick chart you would have had a better short (and long) entry earlier (6.41pm at 2552) and the LR do not keep crossing price after 7.50pm when market slows down... so you can stay in the trade... easier to read PA etc...
2 Min chart LR crosses price later at 7.14pm (2548) and then it looks flat...
1 Min chart is worse because after 7.50pm LR keeps crossing price that has become flat.

 

[Forexmospherian]

ive seen some posts elsewhere that tell me I can refix my FXCM to go down to tick level.......may do that as an experiment .....1min is fastest I get ......

if anyone cn get this to work that would be appreciated

N

http://www.fxcmapps.com/metatrader-4/custom-time-frames/

Hi N

i know you need your MT4 or 5 for your strength correlator - but personally for scalping move away from MT4 set ups

Try tick charts on ctrader ( FXPro ) or DuKascopy , LMAX or even Alpari - all have LRs as well

Unfortunately dont know much about FXCM - although did use them about 10 yrs - ago. If you can get a tick chart on a non MT4 platform there - that would be OK

You may need just to keep your MT4 for your correlator - but for scalping stick to other specialized charts etc

Hope you are around tomorrow

Regards

F

 

[Forexmospherian]

I may be off the wall here, but I wonder if you can relate this to using volume - there are definitely some aficionados of Volume in FX out there (even if it's "only" tick volume). By the same token, might those without access to tick charts benefit from using volume?

Hi MMt2w

I remember going through level 2 and other order volume methods - but got to admit could not really get them to work for me

I did not trust the info - and of course got the feeling that the liquidity providers and even some of the big players were manipulating what we saw via false cancelled orders

I trust a tick chart - mainly because of price structure again - I don't really like raw price - as i find it misleading and I also am very much into time - as an indicator

I know it might sound silly - but also its what you get used to over 1000's of trades - even down to when you see a gameplan being put into action - to try and get traders stuck in wrong way trades.

I would love to hear from another scalping pro who feels he has volumes down to a tee - and uses them with great effect - as yes I then think I could learn more from them

Good Trading


Regards


F

 

[Forexmospherian]

Ok I found the perfect example to demonstrate my point EU from 4.50pm to 9.50pm (5 hours). Picture explains everything
Just by adding a typical average 95 LR and showing a tick chart (top left) a 2 min chart (top right) and 1 min (bottom) you can see the main advantages.
With the tick chart you would have had a better short (and long) entry earlier (6.41pm at 2552) and the LR do not keep crossing price after 7.50pm when market slows down... so you can stay in the trade... easier to read PA etc...
2 Min chart LR crosses price later at 7.14pm (2548) and then it looks flat...
1 Min chart is worse because after 7.50pm LR keeps crossing price that has become flat.

Interesting SW

You are correct - some times tick charts can get you 2 -4 pip better entries and even assist on exits - as well as give you better accuracy

I know many traders say you are just working in "noise" - But true noise is really just in a tight BTTZ area.

Normally - if you wanted and had the focus you can nearly follow every pip move over an hour and if you spreads were super small ie 0 2 of a pip - then you can get trades of a RR of 2 easy of a 5 pip move

Glad you are working at it and understanding more of how you can make intraday trading profitable .

Every 500 trades you will get better - its all practice and experience etc

Regards

F

 

[MajorMagnuM]

Ok I found the perfect example to demonstrate my point EU from 4.50pm to 9.50pm (5 hours). Picture explains everything
Just by adding a typical average 95 LR and showing a tick chart (top left) a 2 min chart (top right) and 1 min (bottom) you can see the main advantages.
With the tick chart you would have had a better short (and long) entry earlier (6.41pm at 2552) and the LR do not keep crossing price after 7.50pm when market slows down... so you can stay in the trade... easier to read PA etc...
2 Min chart LR crosses price later at 7.14pm (2548) and then it looks flat...
1 Min chart is worse because after 7.50pm LR keeps crossing price that has become flat.

Ty will study this.