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

[Forexmospherian]

Double the fun I guess.
Yes if you are in synch with small move great but Over scalping is an issue that can be costly with commisions when you do an overall analysis of number of trade, win ratio and then %of commision compared to profit.
Attached trading from 2 days last week, see net profit is 109.98 and commission is 95.80, so basically total profit is 205 but because of commission it is almost 1/2 (46% of gain). If I can reduce commission by 1/3 (64) then it only represent 31% of my overall gain and I would profit 142 instead.

Very good point SW

I am always relunctant to take over 20 trades a day - prefer 10 -15 good trades of over ideally 7 pips a trade than loads of 2-5 pip trades

That pullback on EU was a great example

It did not make 85/87 - could not get under 91 - so really it OK for say 5 -7 pips - but really unless you are desperate to get pips in the kitty better to hold a 30% buy on with stop in profit from say 81 -83 area and just wait really I suppose and take 70% off originally at say 2408-9 area

I think if you can always get RR's of over 2 - ie above 8 -10 pips - then never worry about costs - but if you end up with lots of trades with RR's only half to 1 etc - its costly to keep scalping

 

[sunwest3d]

i ran thru alot of data over the weekend , checking bollinger bands against lr signals, as they use std dev from norm to calculate volatility. as lr is predicting where price might be, i thought there may be some complimentary use. What do you guys think

Do you have an example to show us . Obviously every time a new indicator or rule is added, it adds complexity and may filter out good signal. I will have a look.

 

[Forexmospherian]

i ran thru alot of data over the weekend , checking bollinger bands against lr signals, as they use std dev from norm to calculate volatility. as lr is predicting where price might be, i thought there may be some complimentary use. What do you guys think

Never tried that MM - but always worth looking for more clues and other additions to assist the method

I am all for finding out more and trying to improve on what we have

We have nothing to lose - it works as it is - but if we can improve a method - even better - gives you more confidence etc etc

 

[Fugazsy]

looking for a final flag (if), OB on bigger TF

 

[Forexmospherian]

EU Chart prior to 9 00 am news


A lot of manipulation going on this morning and holding back on going above 2410

Update after 9 00 am news

Price structure - won over Price Action

 

[MajorMagnuM]

my long sl on rems is 968 eu

 

[Forexmospherian]

looking for a final flag (if), OB on bigger TF

EU

I am hoping Fz - above 2395 - I can scalp buy again to make above 2415 and 20

Yes OB's are slowing the up move - the market as showed it colours now and so many swopped to buys from sells

 

[MajorMagnuM]

looking for a final flag (if), OB on bigger TF

whichinstrument Fug?

 

[MajorMagnuM]

just bought eu at 03, have a 3 pip stop

 

[Forexmospherian]

EJ

9 57 am

Cannot make above 146 80 now and its gone over 30 mins with no breach

Will post a EJ chart

After scalp sell is over - ideally above 40 or 50 - hope to scalp buy again

 

[MajorMagnuM]

need 05to not hold or i get out

 

[MajorMagnuM]

sl at 01

 

[MajorMagnuM]

sl hit -2.5

 

[Forexmospherian]

need 05to not hold or i get out

I hope it holds for you and w etry up again - otherwise think 93 -95 will turn it up again

 

[Fugazsy]

EU

I am hoping Fz - above 2395 - I can scalp buy again to make above 2415 and 20

Yes OB's are slowing the up move - the market as showed it colours now and so many swopped to buys from sells

200sma may create support.( I cannot use LR, I am using 200sma instead:whistling)

 

[Fugazsy]

whichinstrument fug?

eu

 

[MajorMagnuM]

sl on rems on original long hit but i just bought again. risking 3 pips

 

[Fugazsy]

F

I also noted that those key times can delay of a 1m or two, please correct me if I am wrong

 

[Forexmospherian]

EJ - 1 Min LR chart with Price structure from after 7 00 am

EJ

My favourite intraday pair as been kind to me this morning

Meanwhile EU and GU - have been bloody hard work lol

Sorry about clarity - having to resize image on Window 7 for some reason atm ??

 

[MajorMagnuM]

may have got that wrong , sl below 0925 low