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Dragon Riders GBP/JPY

  • #24,601
  • Jun 21, 2017 5:03am Jun 21, 2017 5:03am
Quoting Mr Breakout
{quote} I believe you are running a system on the FF platform, something called Explorer, right? Could you please copy and paste the exact URL of your equity curve, I am not familiar with FF Explorer? Thanks.
https://www.forexfactory.com/rmrf#acct.53

there is mine Mr B
  • #24,602
  • Jun 21, 2017 5:09am Jun 21, 2017 5:09am
Quoting Mr Breakout
{quote} Interesting. So you believe some traders (or even brokers) know exactly where the market is headed so they start posting lies to intentionally deceive unsuspecting FF traders and pocket their hard-earned money? You my friend have probably been watching too many James Bond movies LOL {quote} See you at the bank then.
Mr B you are so kewl but really are you pulling my leg>? it is a fact some traders know exactly where the market is headed, and in fact some even are the direct cause of where it goes and where it reverses. and 007 died.

then there are the ones who think they know, but are still trying to get a grasp on it, and its like they post stuff that they are hooping and praying for as if other trades will agree and take the same trade and that it will somehow help them (their trade) be more profitable.

RT's provide the fuel for the fire, and FWIW most RT's 80% of what they imagine about the forex auction market isnt true!
best to go back to the class on underlying market mechanics, as everyone seems to skip that class then they wonder WTF all the time.
  • #24,603
  • Jun 21, 2017 5:14am Jun 21, 2017 5:14am
Quoting Quickiepip
This is how I add to my losing positions... there is always a little pull back or hiccup. it works and to tell the truth I was kind of pissed off when Mr. Breakout just dismissed they fact... he adds to winners he says... but when I check his profile I can see nothing...smh {image}
I add to losing positions every day, the bank does the same thing,
want to see orders added to a losing position? in EUR/GBP
I got a 4 month + long EUR/GBP position for you logged @ my FF trade explorer https://www.forexfactory.com/rmrf#acct.53

I know better, adding orders to a losing position is not the problem
  • #24,604
  • Jun 21, 2017 5:22am Jun 21, 2017 5:22am
Quoting Quickiepip
This is how I add to my losing positions... there is always a little pull back or hiccup. it works and to tell the truth I was kind of pissed off when Mr. Breakout just dismissed they fact... he adds to winners he says... but when I check his profile I can see nothing...smh {image}
quickpip you are doing it wrong though! when you enter contratrend at the top of the range you got it wrong, you dont enter with large lots AT THE TOP OR BOTTOM OF THE RANGE (reciepe for disaster in GJ) you add smaall order .01 and you scal in gently, where you add the large lot orders is for longs at the very bottom of the range, and just opposite for shorts. and you have to figure (until you get really good) that you will rarely pick the bottom, and GJ will step down more,
I said short off the top above 142 and I never hold long enough, but it was clear it was going to go way down, even with a long bias in mind.

I am all for averaging down in a wide range for the reversal, but for certain starting with big lots and entering smaller and smaller lots as it moves against you is not going to be a reliable way at least not in GJ unless you got a 5 mil account and can support those lot sizes getting in long at the top and short at the bottom.

one thing i have done that works, is I try to get one .01L long as high as I can or one short as low as I can, Opposite of what you should be doing, then I use that order as a marker set a huGE SL and then start entering contratrend wide as it goes, in GJ, you gotta figure wide range large swings huge volatility.
  • #24,605
  • Jun 21, 2017 5:27am Jun 21, 2017 5:27am
Quoting Quickiepip
{quote} A lot of people us the 200EMA as a trend setter....The trend was still short with a bias of staying short based on the 3 days in a row it was rejected {image}
professional traders use 200SMA 100SMA AND 50SMA on the daily chart.
EMA is not the one, may as well put the 200 SMA and 200EMA and see the difference, but better to add the 100SMA and 50SMA and consider those as well
but anything uusing averages is going to cut you out of 50% of the pips
  • #24,606
  • Jun 21, 2017 5:37am Jun 21, 2017 5:37am
Quoting Quickiepip
{quote}forex of 2017 is a lot different from forex of 2006 the pa rarely runs straight down without a recoil. i never closed them one at a time these trades were taken as a part of a unit. they were closed together once in profit. From a new high or low price action will always pull back at 50 or 100 pips. if you studied the currency you would know this. im sorry mr breakout i dont want to be a bully. I will stop posting now since there is only one way to trade and you've written the book on it....lol
or building a long position, after the short off 142.50 and a fall into 139 im building a long position LT
but I am looking for 136 and potentially 1.352, ive got orders to buy all the way down, then will it reverses it will all be easy, easier would have been taking the short off the top like I said at the top and holding it.

while I dont like to add to a winning position it is a good skill to have, think of it as pyramiding and its very effective if you can master it, but obviously greatly increases your risk (and reward!!!)
  • #24,607
  • Jun 21, 2017 5:40am Jun 21, 2017 5:40am
Quoting Quickiepip
{quote}Good to hear! some feel that im a bully! I might be lol
I am a confirmed bully at the line (PRICE NOW) and thats where I fight
and the bigger my accounts get the bigger of a bully I become at the PRICE NOW LINE!
  • #24,608
  • Jun 21, 2017 5:41am Jun 21, 2017 5:41am
Quoting Mr Breakout
{quote} On the other hand if you start the FIB calculation from the top of the move (May 10, 2017, same 4h chart), GBP/JPY just got rejected three times at the 38.2% fib level and went down (see chart). See how easy it is to draw two opposite but equally valid conclusions from the same exact chart and the same exact time frame? That's why technical analysis is so difficult to apply in real time... {image}
and thats exactly why the FA guys fry the TA guys on a regular basis!
  • #24,609
  • Jun 21, 2017 5:42am Jun 21, 2017 5:42am
Quoting Pips_Cruiser
{quote} Let's try to keep an open mind for now. The market will unfold as it should. We're just hitching rides.
right PC! ride with the BM (big $)
  • #24,610
  • Jun 21, 2017 5:45am Jun 21, 2017 5:45am
Quoting GDR3k
{quote} I don't think support just above the 139 area will hold from last week, I presume it'll poke below the low of last week and hit the large 4hr [synced to NY close) bullish engulfing candle close price from 18/04 this year (or the open price of said candle), for longer term positions I'm looking at the 137 area or the 136 level for a heavy position north.
me too and all trades can be checked at the FF explorer. image is from client and can be verified @ FF trade explorer.
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  • #24,611
  • Jun 21, 2017 5:47am Jun 21, 2017 5:47am
Quoting Mr Breakout
{quote} The market makers love to play games during the Asian session...
um no Mr B thats when I sleep, too hard to shake moneys out of tree in that session, its the smallest session with the smallest VOl and the smallest range typically, not even worth trading, every try to shake a bunch of monkeys out of a tree?
  • #24,612
  • Jun 21, 2017 6:07am Jun 21, 2017 6:07am
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trace
Exits == most important part of your strategy
  • #24,613
  • Jun 21, 2017 8:02am Jun 21, 2017 8:02am
Quoting rmrf
{quote} professional traders use 200SMA 100SMA AND 50SMA on the daily chart. EMA is not the one, may as well put the 200 SMA and 200EMA and see the difference, but better to add the 100SMA and 50SMA and consider those as well but anything uusing averages is going to cut you out of 50% of the pips
please reference your source....lol I can reference mine to at least 10 or so books....lol
I'll pick up the crumbs don't need the whole pie
  • #24,614
  • Jun 21, 2017 8:09am Jun 21, 2017 8:09am
Hello buddies,
It is the best time now to get into a selling GBPJPY position. Be with me on this ride down
  • #24,615
  • Jun 21, 2017 8:20am Jun 21, 2017 8:20am
Quoting quangvision
Hello buddies, It is the best time now to get into a selling GBPJPY position. Be with me on this ride down
God bless you [ and your follower ] if next M15 bar close as green .
If red you get it.
Exits == most important part of your strategy
  • #24,616
  • Jun 21, 2017 9:07am Jun 21, 2017 9:07am
Next stop 142.75 - 143 and then 144
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  • #24,617
  • Jun 21, 2017 9:21am Jun 21, 2017 9:21am
Quoting edmun1388
{quote} God bless you [ and your follower ] if next M15 bar close as green . If red you get it.
GBPJPY is dropping as you said, lol. Get onboard now
  • #24,618
  • Jun 21, 2017 9:24am Jun 21, 2017 9:24am
Quoting quangvision
{quote} GBPJPY is dropping as you said, lol. Get onboard now
Already IN since 141.71 but booked half at 141.38. Riding
  • #24,619
  • Jun 21, 2017 9:57am Jun 21, 2017 9:57am
Hello Everyone and Respect to the Riders.

I am a rookie and want to train my dragon. I opened a buy at 140.87 and now the Dragon feels like take a dive. How much should i expect it to fall, and from where should I buy it (or sell)?
  • #24,620
  • Jun 21, 2017 9:59am Jun 21, 2017 9:59am
We are still part of the ascending triangle....
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Lost....
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