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

[Fugazsy]

Personally I think is too risky having all the money with the broker, I think 20% of the actual capital at risk should be enough, meaning if I have a capital of $100000 to trade and I risk 0.5% of it per trade, having $20000 should be enough. I need to have 40 consecutive losses (unlikely) to refill my account. Only me...

 

[neil324]

Hi all

It's £50k for broker accounts and £85k for bank accounts when claiming through the FSCS.

 

[Mr Fox]

Personally I think is too risky having all the money with the broker, I think 20% of the actual capital at risk should be enough, meaning if I have a capital of $100000 to trade and I risk 0.5% of it per trade, having $20000 should be enough. I need to have 40 consecutive losses (unlikely) to refill my account. Only me...

I appreciate where you are coming from Fugazsy, but it all depends on perspectives.

Let's take your example, you put in $20k, then made an additional $40k, then you pulled out your initial investment, then effectively, you are playing with winnings, rather than any of your initial investment.

Yes you could stick just $20k, and take 2.5% risk, thus it is the same as effectively going in the same as 0.5% with a $100k, but what happens, if one day you see a peach of a trade, and want to go in a little heavier.

Say 3% risk on $100k, to get the same on $20k you are risking 15% 😱, and if the unexpected proverbial shhhh hits the fan, then you could be getting a margin call, and effectively losing the $20k invested.

So is it better to have a bit of breathing room, where a dent can be recovered, or play tight, and effectively have a blown account.

I hope that makes sense, or more importantly, understand my perspective.

Best
John.

 

[Fugazsy]

I appreciate where you are coming from Fugazsy, but it all depends on perspectives.

Let's take your example, you put in $20k, then made an additional $40k, then you pulled out your initial investment, then effectively, you are playing with winnings, rather than any of your initial investment.

Yes you could stick just $20k, and take 2.5% risk, thus it is the same as effectively going in the same as 0.5% with a $100k, but what happens, if one day you see a peach of a trade, and want to go in a little heavier.

Say 3% risk on $100k, to get the same on $20k you are risking 15% 😱, and if the unexpected proverbial shhhh hits the fan, then you could be getting a margin call, and effectively losing the $20k invested.

So is it better to have a bit of breathing room, where a dent can be recovered, or play tight, and effectively have a blown account.

I hope that makes sense, or more importantly, understand my perspective.

Best
John.

John

Thank you for your post and your perspective

But I do no agree that playing with winners should be considered less in value because it is not part of your initial money, I think it is "more" than your money, your made it (and we all know how difficult it is) and you deserve it. Losing it because the broker goes broke will make me real p@ss off.

Regarding the peach of the trade, personally I would not place an heavy stake on any particular trade, because it will shift me out of my "zone" which I constantly search and try to maintain. Beside what we may consider a "peach" may just be our personal perception and losing a good part of my account one one single trade would take me out of "there".....

I want to take any trade as probability factor gently skewed to my favour, I want to take all the trades equally that are part of my rules, the outcome of a single trade does not matter and should not have any chances to push me out of my effectiveness.....

And I agree with you having a bit of breathing space is good, so in the case a peach trade is considered I would allow the breathing space for that, but having all my capital sitting there in the broker hands I am not sure about...They are crooks and we should be aware of it...

 

[Forexmospherian]

Monday 15th December 2014 - Pre Opens

Good Morning to all FX Intraday Traders

Another new week in the last month of 2014

A quiet day on the red news announcement side and being a Monday - it may not be a big action day - but saying that - you never know what might happen in the FX markets

I have got to pop out for approx 45 mins around LO - but will then be back for a few hours.

Normal stuff for a start - quick updates on the main pairs I plan to intraday trade along with levels etc I will be looking for scalps and reversals etc

All FX related comments welcome and when it gets busy keep refreshing your browser page every 30 seconds to see all the comments - and many times they can be missed

Notice a few I will get around to this morning from yesterday

Have a good day and a great week

All the best


F

 

[Forexmospherian]

EU

6 52 am

Still LH's under last weeks 2500 - at 2485 and 79 and price currently at 2451

The EU is in a down Am session - but as been a scalp buy from both 4 09 am and 6 09 am - rising from its morning low at 2433. I entered after 6 21 am at 2447 - but need over 62 and 67 to hold on scalp on for a higher move up and possible test on the LH's again

 

[Forexmospherian]

EU

6 56 am

Supports atm at 2440 - 45 and 48 - so whilst above all 3 we can look at more scalp buys on any small pullbacks

Need under 2430 and 20 to be holding on any scalp sells taken under 45 and 40

 

[Forexmospherian]

GU

6 58am

An easier scalp buy this morning . I was not at desk to take it at 6 00 am but caught it at the 6 30 am TW from 5725

As I type - its just moved up another 5 pips to 5744 and above 32 on pullbacks is still a further scalp buy

Would only look at scalp sell at higher R - or presently under 28 and 22

 

[Forexmospherian]

EJ

7 02 am

Not in a sell scalp on this pair so far - as went with EU and GU - and so at this time in morning not keen to be in 3 scalps at the same time - even though this pair would have been a sell again the other 2 scalp buys.

Under 147 55-60 I have this in a bearish morning session although from the start of this hour TW its been a scalp buy above 147 16. Would need above 42 to hold the scalp buy on longer for a larger turn - but then more R's at 55 -60

 

[Forexmospherian]

GU

7 05 am

So far cannot make over 5747 - so down to 30% but would pull under 35

 

[Forexmospherian]

EU

7 06 am

So far peaked with an interim high at 2456 . Pulled scalp buy off - but have not left 30% on but will try and re scalp buy above 41

 

[Forexmospherian]

GU

7 11 am

Out 30% stake now - next scalp buy area 26 to 29

 

[Forexmospherian]

7 15 am

Missing out on moves up again on EU and GU - as not in either atm - GU turning at 31 and I was looking for 26 -29 to scalp buy

EU will try and scalp buy again on a pullback staying above 2460

 

[Forexmospherian]

EU

7 20 am

Would expect to be able to scalp sell the EU beloew 2476 LH and around 70 to 75.

If price carries on up above 78 and 81 stay with scalp buys but then 2485 might be the next sell point

 

[Forexmospherian]

GU

7 23 am

So far another morning high at 5747 - its still in a scalp buy mode above 30/31 on any pullbacks - but hitting a R area from 5745 to 5750

 

[Forexmospherian]

EU

7 20 am

Would expect to be able to scalp sell the EU beloew 2476 LH and around 70 to 75.

If price carries on up above 78 and 81 stay with scalp buys but then 2485 might be the next sell point

EU - 2472/3 so far another interim high and was a scalp sell - but need under 55 and 48 to hold scalp sells on longer

 

[Forexmospherian]

EU - 2472/3 so far another interim high and was a scalp sell - but need under 55 and 48 to hold scalp sells on longer

EU

7 34 am

So far its pullback down on scalp sell to 2458 - and I am out at 60 on 70% stake and will leave 30% stake on under 65

Still think might be able to scalp buy again next from 52 to 55 area

 

[Forexmospherian]

7 37 am

Its been a busy last hour for me on EU and GU - and my favourite pair - the EJ - not taken one scalp on it so far

Got to get ready to nip out at 7 50am - and will be back around the 8 30 -40 am time for a few hours or so

Will pop back in before I leave

 

[Forexmospherian]

Out 30% stake part of scalp sell on EU at 2456

2451 to 55 area could be a scalp buy area next as need under 48 to stay with sells

 

[Forexmospherian]

7 48 am

Popping out for approx 50 mins or so

Difficult ones on both GU and EU

Not in any scalps now but would be looking at scalp buying again both pairs if the stay above their interim supports at 48 /50 on EU and GU above 5724 -27 area


See you later