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

  • #1,481
  • Oct 29, 2015 7:24am Oct 29, 2015 7:24am
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.
Depends on strategy. Mid term trades - only limit orders and TP, emotions are off.

Scalping is a bit different but I'm patient when I scalp EU as well. Set my S/Rs in place and wait till the price gets there. When I get confirmation on indies + small PA I'm in.
Don't usually take trades between or when I'm not sure, when you do so, you have itchy fingers - the worst enemy in my opinion. Sometimes you can take 5 trades other times 15, depends on a day.
  • #1,482
  • Oct 29, 2015 7:27am Oct 29, 2015 7:27am
Quoting sakisf
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.
Top was 76 - full swing terminates at 46 - Almost hit to the pip. Hope your stop didn't got hit.
  • #1,483
  • Oct 29, 2015 7:27am Oct 29, 2015 7:27am
They're holding 50, normally a good sign, of course normal rules don't apply in 3 minutes, finger on mouse ready to click out instantly.

Out at 65.1 so 5 plus, was expecting a lot more volatility and more follow through.
  • #1,484
  • Edited 7:43am Oct 29, 2015 7:30am | Edited 7:43am
Quoting KzX
{quote} Top was 76 - full swing terminates at 46 - Almost hit to the pip. Hope your stop didn't got hit.
Still alive for now. Broker got to 1.09483, saved by 3 pippettes. Might hit now on spikes, otherwise tp 1.1030. Got me now!

But new long 49, sl 40 (updated to 39, due to OR).
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  • #1,485
  • Oct 29, 2015 7:36am Oct 29, 2015 7:36am
Quoting KzX
{quote} Depends on strategy. Mid term trades - only limit orders and TP, emotions are off. Scalping is a bit different but I'm patient when I scalp EU as well. Set my S/Rs in place and wait till the price gets there. When I get confirmation on indies + small PA I'm in. Don't usually take trades between or when I'm not sure, when you do so, you have itchy fingers - the worst enemy in my opinion. Sometimes you can take 5 trades other times 15, depends on a day.
Oh how you make it sound soooo simple.
  • #1,486
  • Oct 29, 2015 7:49am Oct 29, 2015 7:49am
Quoting Pipologist
{quote} Oh how you make it sound soooo simple.
It's fairly simple (at least to me) but from what I see here on the thread - lots of trades are emotional, long here, reverse there, stop 4p etc.
I just got my own strategy with opening range and morning/afternoon setups, fakeouts, swings etc and I stick to it.
Today's OR was 10-40, next level 70 (I think I wrote that) - respected way too many times (shorted 3 times there).
I also was bullish in the morning - expecting GDP forecast pump. Maybe I'm good at spotting patterns or it's something else, don't know.
This game is being played by machines - their moves are limited - our brains not!

Btw. again same swing - pump 74 after GDP - drop 44 (long for 30%) and drop, ehh
  • #1,487
  • Oct 29, 2015 7:54am Oct 29, 2015 7:54am
Quoting KzX
{quote} It's fairly simple (at least to me) but from what I see here on the thread - lots of trades are emotional, long here, reverse there, stop 4p etc. I just got my own strategy with opening range and morning/afternoon setups, fakeouts, swings etc and I stick to it. Today's OR was 10-40, next level 70 (I think I wrote that) - respected way too many times (shorted 3 times there). I also was bullish in the morning - expecting GDP forecast pump. Maybe I'm good at spotting patterns or it's something else, don't know. This game is being played by...
what you think now at 1.0940?

best regards
  • #1,488
  • Oct 29, 2015 7:55am Oct 29, 2015 7:55am
Quoting sakisf
{quote} But new long 49, sl 40 (updated to 39, due to OR). {image} {image}
sl hit. On the sidelines for now.
  • #1,489
  • Oct 29, 2015 7:57am Oct 29, 2015 7:57am
Quoting velit
{quote} what you think now at 1.0940? best regards
They should get back to open.
  • #1,490
  • Oct 29, 2015 7:59am Oct 29, 2015 7:59am
Quoting KzX
{quote} They should get back to open.
to 1.0920 around
  • #1,491
  • Oct 29, 2015 8:01am Oct 29, 2015 8:01am
i am long at 1.09357
  • #1,492
  • Oct 29, 2015 8:02am Oct 29, 2015 8:02am
Quoting velit
{quote} to 1.0920 around
I use CET - 30
  • #1,493
  • Oct 29, 2015 8:25am Oct 29, 2015 8:25am
10924 is todays low swing from yesterdays down swing to 10897
  • #1,494
  • Oct 29, 2015 8:33am Oct 29, 2015 8:33am
Quoting puney
10924 is todays low swing from yesterdays down swing to 10897
It's mid OR also. If it's broken we'll go for wave 5.
  • #1,495
  • Oct 29, 2015 8:36am Oct 29, 2015 8:36am
Quoting Pipologist
{quote} 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...
Thank you.. yes, i mostly use 0.05 when i'm sure.. i'll make sure to stick with it..

Quoting sakisf
{quote} Use micros (0.01-0.03), go for 1:1 10 pips (sl/tp) until you learn to identify setups which need no more than 10 sl and ideally no more than 10 sl with probability of 20 tp. Then step up to 1 minilot max I guess. Stay out of trading for a while and ditch the high tf's, just watch pa in 1m & 5m. Watching them unfold is way better than having to wait for 20 hourly bars to watch the pa (they say you need 10k hours of screen time, well in fast track you can do 10k minutes of it ). Not saying you shouldn't trade higher tf's, actually this is...
i only used 15m, no more higher tf.. i used 0.02 and 0.05 to find a strategy and consistency.. i still have a lot to learn, A LOT.. Thank you..

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
Thank you.. i meant, im desperate to learn a strategy, not about losing.. this month, i lost 20% of my account.. all bcoz of bad entries, and getting stopped out at good entries.. using 2% SL, but having it hit more time than tp get hit..
fear and patience run into each other more often.. i had patience for 100p, but fear take over then and i close all my losses in losses and then watch the price retrace.. im not into greed, i only aim for 10p.. if i aim for 10p and price only go for 5p, and i keep waiting for tp to hit, am i greedy?
i only let micro lot orders go underwater, bcoz i know i can handle the drawdown and wait for it to hit BE, but after 100p, i lose patience and close them..
all order above 0.05, i use 10p or 20p SL.. so, i understand MM a little bit..
Dont trade like me..
  • #1,496
  • Oct 29, 2015 8:41am Oct 29, 2015 8:41am
Quoting velit
{quote} to 1.0920 around
closed at BE
  • #1,497
  • Oct 29, 2015 8:42am Oct 29, 2015 8:42am
Quoting sanvulture
{quote} i only let micro lot orders go underwater, bcoz i know i can handle the drawdown and wait for it to hit BE, but after 100p, i lose patience and close them.. all order above 0.05, i use 10p or 20p SL.. so, i understand MM a little bit..
this is a dangerous inconsistency...many of us including myself have been or are guilty of this, but it's really disrespectful to the trade, to MM and ultimately yourself to treat trades differently because of lot size...would you drop $5 on the ground and leave it there and say it's no big deal but treat $50 differently?
  • #1,498
  • Oct 29, 2015 8:49am Oct 29, 2015 8:49am
i saw eur/usd just back to where yesterday NY session closed and back up now, most of the time do that but not always
  • #1,499
  • Oct 29, 2015 8:52am Oct 29, 2015 8:52am
after 10 minutes - home pending sales.

so maybe after that number go bach to the high again or down if good numbers coming
  • #1,500
  • Oct 29, 2015 8:58am Oct 29, 2015 8:58am
Quoting KzX
{quote} It's mid OR also. If it's broken we'll go for wave 5.
confluence worked perfectly.
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