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

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GU

6 52 am

Already in 3rd scalp - as we could not fall under 22 and now I reckon we should try over 31 and 34.

Might be wrong - and if so would reduce stake and pull it under 23.
 
sun11 said:
Hi Forexmospherian,

I have been reading your post in here. I would like to ask a question about a situation. If its already answered then i am extremely sorry. Its bit a long thread.
🙂

Here in 1st few post you said, "If a trade is not in profit or going my way within 2- 3 minutes - i might exit if I have over 3 pips - as my spreads on key pairs are under 2 and as low as 0.3 pips - so forget the nonsense of the cost of more trades ."

What you do during NFP? that time market move more than 20 pips in 1-2 mins, sometimes may be more. What you do then?
Even before the news release there is an undecided choppy movement occurs, which could eat 5-10 pips SL easily. How you manage then? Do you avoid trading in those risky timing?
Click to expand...

Hi Sun11

To be able to make all trades from a 3- 7 pip soft or mental stop - average 5 pips - you need to be very experienced and be skilled at reading market timings.

For example with the NFP - i would not be in a scalp at the news - but would try and enter with 9 mins afterwards ( ie within the TW) OR if not possible due to spikes etc - I just wait another 12 mins to next TW.

My methods are complex and ideally you need say 18 -24 months of basic FX knowledge to have a chance of understanding them

Unfortunately - you do need loads of hours on live charts - at what I call the coalface on tick and 1 min charts.

After say 3000 -5000 hrs you start to spot things happening more regularly.

By 10k live hours - you are then full skilled - trouble is it can take 5 to 7 years part time to get there and even 2-4 years full time spending over 50 hrs a week.

Check out any FX pair at the end of the day - and then see how many moves stop and start all at certain prices and times

The skill is then converting the learnings and knowledge into your strategy

I will have losing trades - my win ratios per 100 live trades range between 62% and 87% - and now I am over 16k of live trades.

Thats really why I am able to do it and If you embark on the journey - I can tell you after you make say 2000 live trades using my methods etc - It all becomes well worth while

Have a good day and if I can help etc more - please feel free to join in etc etc


All the best


F
 
EU

7 04 am

From start of hour TW - at 6 51 am - it became a scalp sell - interesting as GU still wants to try up ?


So far EU dropped 10 pips - and I have got 6 of those pips in the bag

I expect supports at 80 -85 to hold for now - but if we get under 75 and 70 - different ball game maybe
 
7 25 am

Lot of play going on with GU and EU again - as they are uncoupled and the LPs are playing

Still not scalped the EJ - my favourite pair most days - but will have a look at more pairs this next 30 mins before LO
 
Forexmospherian said:
EU

7 04 am

From start of hour TW - at 6 51 am - it became a scalp sell - interesting as GU still wants to try up ?


So far EU dropped 10 pips - and I have got 6 of those pips in the bag

I expect supports at 80 -85 to hold for now - but if we get under 75 and 70 - different ball game maybe
Click to expand...


EU comment from over 20 mins ago

2384 held for a turn up and another scalp buy which topped exactly 10 pips higher

We are still in the range - but whilst under 2400 and 2405 - the price structure so far favours lower again

Trouble is this range could be a BTTZ area - and so we could have 2 ways teasing going on - just to trap traders in wrong trades
 
Remember the 30 min rule on interim highs and lows on pairs - and if held with no breach - you normally need an hour before the levels can be tested again

So note levels and times - in your clue list etc
 
7 53 am

EU

I exited scalp buy after the bounce - and did not go with it again after 7 30 am on its further rise - as did not trust it

Now EU at 2402 and trying to turn up

You just cannot trust it atm - so I will not trade it whilst its being so heavily played with
 
The EJ is not being helped whilst the EU is still trying to rise - shows something will have to change soon as so many pairs out of sync etc
 
first trade, long at the bottom of the range (1) made 8.7 on 5, covered @ 24 RN
 

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EU

8 08AM

Price at 2406 and technically go above its last range

Trouble is I cannot trust it still - as the price stucture set up is neutral and not saying it will rise more without pullbacks

Tricky one

If we get a pullback that stays above 2397 - I would look at scalp buying - and similar if we make above 2410 then stay above 2402 - would look at another scalp buy
 
EJ

had to pull scalp sell with less than 3 pips

Its still in a range - but with EU still rising - Euro strength as turned EJ for now

Would need above 147 50 /55 to think this turn up is going to continue
 
GU

8 15 am

Continued to fall and so far made 5702/3

Supports from 5695 to 5700 - so will be looking for another scalp buy unless we go under both support levels
 
8 28 am

I have felt more confident to scalp buy both EU and GU this last 12 mins or so - now they are in sync - with GU bouncing from supports and EU carrying on up
 
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