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EUR/USD: IntraDay Scalping and Short Term Swing Trading Only

  • #1,461
  • Edited 5:31am Oct 29, 2015 5:05am | Edited 5:31am
Quoting Pipologist
{quote} Quoted Sakisf but I think referring to Sanvulture....
Well some (if not most) of the points apply to me too It's a very good advice.

short 675, sl 755, need a contact at 42-45 for tp. sl hit. Now waiting for 85.

Made a new short at 71, sl 78, tp 42. Back to candy crush for now till tp is hit.
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  • #1,462
  • Oct 29, 2015 5:32am Oct 29, 2015 5:32am
Quoting Pipologist
Was out all afternoon today and .... great I started the video game thread.... KzX you are aging yourself with missile command...I need to make the pacman indie....
I'm not aging, thunder god is immortal!
  • #1,463
  • Oct 29, 2015 5:37am Oct 29, 2015 5:37am
Quoting sanvulture
{quote} {quote} Thanks guys.. i'm really sorry for the trouble u guys took for replying me.. I know the risk, that is why i'm not using high lev yet.. i think i learnt my lesson in that, at least.. Can i ask u guys a question? i actually dont know the difference between normal lev and high lev, for my account.. i'm not rich, so i basically have to use lev to trade.. i have a $500 account, with 1:200 lev.. when i refunded and started again, i thought of using 0.1 mini lot in all trades.. but i got my 10p SL hit most of the time.. so i decided to...
Had a long reply for you but it got erased...anyway...

2% of risk cap per trade...if you want to push the envelope 5% per trade...just do the math...

SLpips x $per pip X lots = $risk keep $risk per trade at 2% or less

25p SL x 0.10 per pip x 0.04 lots = $10 = 2% of your example account.

The lot sizes per trade go up down incrementally this way according to your free margin. So at $250 and 25p SL you trade 0.02, when your account is at $750 you trade 0.06

If you want to double your juice then go for 4% risk per trade...so the trades above would be at .08 and .12

you will feel it and see the difference at 3% or 4% enough to keep you interested

if you suddenly go for 10x at 0.20 when you have been trading conservatively at .02, you are basically gun-slinging it with the market, the market will eventually catch up with you and take what you are willing to risk.
  • #1,464
  • Edited 5:55am Oct 29, 2015 5:41am | Edited 5:55am
40 min past the hour, LONG at 59. SL at 54. TP at 74. Risk 5p TP 15p 3 to 1 RR

back to using more"conventional" charts since this morning...yesterday's volatility on the 1mn blindsided me with my scatter graphs, will try to make an indie out of it later...now using a custom modified heikin ashi overlayed on candles with a custom HHLL band will post a chart later anyway trying to find and take swings closer to swing points which makes it easier to work with tighter hard stops.

Out at 63.9 slight blip on the way, better to get out now and secure small prof. This is what I saw....my chart du jour...

Could've (should've taken a short at 63.8 too but was too busy typing!)

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  • #1,465
  • Oct 29, 2015 5:57am Oct 29, 2015 5:57am
Quoting sakisf
{quote} Made a new short at 71, sl 78, tp 42.{image} {image}
Hit be +1. Should have closed it at 10p profit but was busy passing a level...

And some things never change
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  • #1,466
  • Oct 29, 2015 6:02am Oct 29, 2015 6:02am
at 1mn past the hour

Short at 66.7
SL at 74 or sooner
TP at 55

Out at 72.1
-5.4p

Try another short at 67
  • #1,467
  • Oct 29, 2015 6:13am Oct 29, 2015 6:13am
Quoting sakisf
{quote} And some things never change {image} {image}
sl at be, tp set at 1.0850 (or just 10 pips ), leaving it alone.
  • #1,468
  • Oct 29, 2015 6:19am Oct 29, 2015 6:19am
Quoting Pipologist
at 1mn past the hour Short at 66.7 SL at 74 or sooner TP at 55 Out at 72.1 -5.4p Try another short at 67
out of the short at 65.7 so got a little back.

reversed LONG at 68.4 targeting 90 this time 10p trailing stop manual trail

they seem to like this 60 area and seem to want to take it for another swing. if we go to and stall at or near 75 I'll TP out

out with -4.4p, when it went to 73 I really thought I caught one that reversal bar took me from +4.4 to -4.4 within seconds, vicious.
  • #1,469
  • Oct 29, 2015 6:50am Oct 29, 2015 6:50am
47 min past the hour...Shorted at 66, this one moved favorably quickly...these are the kind I like.

Out at 63.1 saw something strange on my chart...can't explain it.
  • #1,470
  • Oct 29, 2015 6:50am Oct 29, 2015 6:50am
Hello folks, after tossing and squeezing my demo account I finally decided to go for real money.

So, warm greetings to all of you fellow traders. I'll start my journey here with a question.

Is there any use from ADX indicator in 1-5 minute charts or because of price fluctations it's completely impossible to trust this indicator for such short periods?
  • #1,471
  • Oct 29, 2015 6:52am Oct 29, 2015 6:52am
Quoting Pipologist
47 min past the hour...Shorted at 66, this one moved favorably quickly...these are the kind I like.
Watch out for GDP
  • #1,472
  • Oct 29, 2015 6:55am Oct 29, 2015 6:55am
sell opp, look for triangle break out ... another sell opps are at 50 & 61 fibo level . tp is 1.0930 for all scenarios
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  • #1,473
  • Oct 29, 2015 6:56am Oct 29, 2015 6:56am
I'm just sitting on the side while I wait for the news. Currently I don't have a clue which way the market will go. I actually think the market uses these releases as an excuse to do what it wants without regard to actual numbers, but I'm not sure that's true. I don't have enough experience yet to figure that one out for sure. Oh yeah, I keep a trade journal, it's titled "The Captains Log" . The only thing I don't like is when I grade my trade at the close and have to write "Fugly". That is short hand for Fuc#&#@- Ugly"
  • #1,474
  • Edited 7:07am Oct 29, 2015 6:57am | Edited 7:07am
Opened and closed this position like 4 times now all ending in be. Gets boring. They should at least give us a fake short before the gdp crap.

Closed short +12, swapped sides, buy 58, sl 48, tp 1030 for gdp. Hope slippage is not bad on my sl
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  • #1,475
  • Oct 29, 2015 7:06am Oct 29, 2015 7:06am
Quoting KzX
{quote} Watch out for GDP
should have stayed just a few more...IF this keeps running short going into the report without a pause it could just keep going...sometimes I think when it runs prior without a pause and just keeps moving in the same direction...when this happens I can't help but think someone had hold of the info/data before it was released...you know like the fed buddy club.
  • #1,476
  • Oct 29, 2015 7:11am Oct 29, 2015 7:11am
Quoting Pipologist
{quote} should have stayed just a few more...IF this keeps running short going into the report without a pause it could just keep going...sometimes I think when it runs prior without a pause and just keeps moving in the same direction...when this happens I can't help but think someone had hold of the info/data before it was released...you know like the fed buddy club.
Equities are playing for a bad gdp today.

Shouldn't have closed the short
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  • #1,477
  • Oct 29, 2015 7:14am Oct 29, 2015 7:14am
Quoting sakisf
Shouldn't have closed the short {image}
Can I get this lucky charm EA????? :O
  • #1,478
  • Oct 29, 2015 7:15am Oct 29, 2015 7:15am
Quoting KzX
{quote} Get your mind sorted out first. If I remember correctly you mentioned you're desperate? If you really are, you shouldn't be trading at all (no offense). Especially don't try scalping. You basically need three things: - Psychological preparation (fear, greed and patience sorted out) - Money management - Strategy
Good advice.

Those three points are good starting points. Even when we have those three things in place we will sometimes diverge from our rules. Even myself I have gone against my rules. The hardest thing is to wait for the correct trade and the grey area which says should I trade it or not. That is why I am trying to automate my trading. We humans are our worst enemy when it comes to emotional trading. Of all the species on this planet we are the most emotionally attached people on this planet.
  • #1,479
  • Oct 29, 2015 7:18am Oct 29, 2015 7:18am
Quoting sakisf
{quote} Equities are playing for a bad gdp today. Shouldn't have closed the short {image}
if the play is for a bad gdp that is neg bias for usd which equals higher EURUSD

anyway I bought the bounce up after at 58.3 and 59.9 if it goes south before report I close, if it goes up before report....ummmm

They are awfully close to my stops now...you can guess where the stops are by the white dotted lines

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  • #1,480
  • Oct 29, 2015 7:20am Oct 29, 2015 7:20am
Quoting puney
{quote} Good advice. Those three points are good starting points. Even when we have those three things in place we will sometimes diverge from our rules. Even myself I have gone against my rules. The hardest thing is to wait for the correct trade and the grey area which says should I trade it or not. That is why I am trying to automate my trading. We humans are our worst enemy when it comes to emotional trading. Of all the species on this planet we are the most emotionally attached people on this planet.
Just take every trade you see before starting to think. Cat made a nice thread on it (http://www.forexfactory.com/showthread.php?t=459430), to which I fully agree. Intuition is more important than thinking when you scalp low tf's.

Quoting Pipologist
{quote} if the play is for a bad gdp that is neg bias for usd which equals higher EURUSD anyway I bought the bounce up after at 58.3 and 59.9 if it goes south before report I close, if it goes up before report....ummmm {image}
Meant before, only got 12 out of it ( Closed short +12, swapped sides, buy 58, sl 48, tp 1030 for gdp), could have been 20. Now long is in jeopardy again. A man can have only a certain number of lucky charms.
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