Friday's Intraday Trading.

Morning All

Last trading day for me before a couple of Holiday breaks over the next three weeks and although I will have a laptop or tablet - I just won't be focused for scalping and will miss the multi monitors and all the info I need - (as I am far away from a "Kiss" type trader ;-) )

Today I thought I would cover the normal key pairs plus the odd yen crosses - looking for a few nice scalps / short term trades that ideally last under half an hour - although we can leave part stakes on if we think they will carry on in the same direction for more hours.

After yesterdays EU new low - and then a 130 pip rise along with all the sudden strength in the pound - its suddenly sorts out the bears from the bulls. As you know I am neither - I will always try and trade both directions and have total disrespect for the normal rules of this game - and instead just concentrate on making money by multi trading with small stops and ideally RR's over 2 - but still expecting the odd RR of 5 or 8 all within half an hour or an hour.

So if you are after any 250 -500 pips forecast with 70 -150 pip stops over many days - please ignore this post ;-))

We have just had the first hour after London Open and the EU and GU / GJ have already posted new daily highs - whilst the Swissy and UC have new daily lows.

Whilst the EU is over 3000 we must still be bullish looking for a break over 3042 in the next hr or so and similar with the GU over 5142 - maybe this hour?

The AU is trading lower than yesterday - but over 0350 - should still have another try up ?

With regards to EU and GU targets - check every 30 mins and look for HH's and HL's and resistances above within 10 -30 pips.

Next update with scalps after half hr change

Have a great Friday

Regards

Peter

10 members like this

Comment by Peter jcp on March 15, 2013 at 9:24am: EU scalping joy - 3045 is a R before the half hr change

Comment by Peter jcp on March 15, 2013 at 9:30am: GU double top 5134/5 prior to half hr change - lets see the strength of any pullbacks on both GU and EU for some clues - if you are scalp selling use highs as stops and always be ready with pending trades or manual for 3- 5 pip breaks above

Comment by Peter jcp on March 15, 2013 at 9:39am: On EU - 39 was low prior to half hr change and then after change 41 and 42 are HL's saying look for scalp buys again confirmed when high is broken - GU not done another high yet - so already correlation not quite the same - so

EU over 52 more scalp buys -under 38 and 35 scalp sells

GU over 5146 scalp buys under 5129 and 27 scalp sells

Comment by Romano on March 15, 2013 at 9:59am: Hello Peter, so how u fare with KISS system? If just as well as ever, maybe u dont need all those multi-monitor setups at all ;)) Next, I would *really* love u to try to remove those MAs+RSI and just try it charts only(to see difference in performance) - for sake of research!

Comment by Peter jcp on March 15, 2013 at 10:08am: Morning Romano - you will be saying next don't bother with trendlines and S& R and divergence - and even a chart next ;-))

My research concluded before over a period of 6 months - I need aids - but agree not the standard indicators etc - as they are all 50 /50 - but my bepoke LR1 is the best leading indicator I have found - especially when matched with BB''s on tight settings;-))

I am sure there are some naked traders who would say - they perform better that way - but they are probably not working with 5 pip stops and catching highs and bottoms and think RR's of 4 are brilliant and sufficient for there needs.

PS - you keep forgetting to mention my most important indicator - my stopwatch (lol)

Have a great day

Regards

Peter

Comment by Peter jcp on March 15, 2013 at 10:16am: 9 mins past hour change - both EU and GU still trying up with EU at 3066 and GU at 5166 and moving up more quickly.

Over last hr best up mover as been EJ - with over 80 pips - but might be having a rest now unless the pullback can beat the current high.

Watch now timings of 9 mins before next half hr change

Comment by Peter jcp on March 15, 2013 at 10:25am: LH's so take profit if you have not done already and then set pending buys up say 3- 5 pips above present highs - We then must decide is it worth any scalp sells - if you are not already in any ?

Comment by Romano on March 15, 2013 at 10:31am: Dont get me wrong Peter, I am not trying to tell u what u should use, its just that I thought as current opportunity it would be interesting research test to see on how much differently would u really fare in such scenario. Pls pls Peter, sacrifice few bucks for us and try it! :)))

Comment by Peter jcp on March 15, 2013 at 10:41am: Watch the 30 min rules for tops on highs on EU and GU now set at quarter past the hour ;-)

Romano - when I tried trading off a laptop a few yrs ago - it was not bad - and I can make OK trades etc etc - but just cannot get the focus and accuracy I relate to - with my normal trading.

If i was using say 5 lots or so - I just would not be comfortable - as I need confirmations every 2 minutes - I think if I tried naked for say a year or two - I would be then happy with it - but would have to work with less assurances I am use it at the moment.

I suppose its to do with my methods and style - ie high maintence - ie not geared to simple analysis and simple profit results