Dislikedi think in dragon it does not matter whether one holds long or short. given enough time it will hit any t/p.Ignored
Dragon Riders GBP/JPY
- #24,683
- Jun 22, 2017 11:31am Jun 22, 2017 11:31am
- Joined Nov 2009 | Status: Trader | 2,756 Posts
follow take own risk 
Exits == most important part of your strategy
- #24,685
- Edited 11:50am Jun 22, 2017 11:38am | Edited 11:50am
- Joined Nov 2009 | Status: Trader | 2,756 Posts
{quote} Hi edmun1388, It is funny that your SL is my TP level. Lol, let's see who wins after all
no trend & volume , may close with small loss later , moved stop loss. 140.96 [ 6.6 pips ]
Exits == most important part of your strategy
{quote} I think not always necessarily. And I think it's dangerous to think that way. Sometimes you might have an entry, and then things go the opposite way and simply won't come back at all or for a very long time. So it's not that simple.
for a newbie who wants to trade in dragon an account of $1410 is more than enough. place sell limits above 141 and buy limits below 141. if they want to trade mini lots then they ought to have a fund of $14100. For mother lots one needs to have an account of $141000.
in simpler words place a buy limit at 130, 131, 132 till 141, and place sell limits at 149, 148, 147 till 142.
in this way no one can lose their account to Dragon. Moreover, it is a long term strategic plan and has to be thought through. in such a scenario one also has to wait for a few months to buy from 130.
similarly, one can make same calculations for other pairs. like for USD/JPY one needs to have an account of about $1110.
for AUD/JPY one needs to have an account of just $900.
I hope I am making sense and not rambling
- #24,691
- Jun 22, 2017 1:02pm Jun 22, 2017 1:02pm
- Joined Nov 2009 | Status: Trader | 2,756 Posts
{quote} have a look. {image} no trend & volume , may close with small loss later , moved stop loss. 140.96 [ 6.6 pips ] {image}
Exits == most important part of your strategy
- #24,694
- Jun 22, 2017 1:26pm Jun 22, 2017 1:26pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
Price rejection at the 50% fib (from 142.55), would the Dragon go down now, without making any more fuss? 
I guess we will soon find out...
I guess we will soon find out...
- #24,696
- Edited 2:26pm Jun 22, 2017 2:16pm | Edited 2:26pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #24,699
- Jun 22, 2017 2:54pm Jun 22, 2017 2:54pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts