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Dragon Riders GBP/JPY

  • #25,021
  • Jun 29, 2017 6:42pm Jun 29, 2017 6:42pm
With news that was announced recently. The yen was very strong and the pound was weak. I got into sales.
if you my trade,My-post analysis, subscribed to ME
  • #25,022
  • Jun 29, 2017 7:14pm Jun 29, 2017 7:14pm
Quoting Mr Breakout
{quote} Yes, unfortunately. Or should I say fortunately, because profitable trading (at least for Zero-Sum games like the Forex) is nothing more than the act of transferring money from the account of inexperienced, undisciplined traders to the pocket of experienced, knowledgeable and disciplined traders.
Not quite, there is an entire third group, it also goes into the pockets of the market making brokers such as any option regulated by the NFA in the US. Not experienced, knowledgeable and disciplined, but lying, cheating and stealing.
  • #25,023
  • Jun 29, 2017 7:20pm Jun 29, 2017 7:20pm
Quoting pipmaster77
Not quite, there is an entire third group, it also goes into the pockets of the market making brokers such as any option regulated by the NFA in the US. Not experienced, knowledgeable and disciplined, but lying, cheating and stealing.
Yes, but if your system is profitable and you trade with total discipline, the market markets can really do nothing against your positions, especially if your stops are wide enough and far away from market noise.

Of course if you scalp the market all day and your stops are in the 5 to 7 pip range, forget about it...
  • #25,024
  • Jun 29, 2017 7:47pm Jun 29, 2017 7:47pm
GBP/JPY filled the gap a few days ago and now the GBP/AUD is trying to do the same thing and fill the gap created June 8 (located 200 pips higher at 1.7135).

Or so it seems.

As always trade at your own risk folks.
  • #25,025
  • Jun 29, 2017 8:21pm Jun 29, 2017 8:21pm
145.900 strong resistance. Watch it.....



::::
  • #25,026
  • Jun 29, 2017 8:51pm Jun 29, 2017 8:51pm
Quoting bigboss
145.900 strong resistance. Watch it..... ::::
On what time frame exactly?
  • #25,027
  • Jun 29, 2017 9:05pm Jun 29, 2017 9:05pm
my levels

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 48 KB
  • #25,028
  • Jun 29, 2017 9:22pm Jun 29, 2017 9:22pm
Quoting Mr Breakout
{quote} On what time frame exactly?
Hourly and 5 min.


:::
  • #25,029
  • Jun 29, 2017 9:23pm Jun 29, 2017 9:23pm
Quoting Mr Breakout
{quote} Yes, but if your system is profitable and you trade with total discipline, the market markets can really do nothing against your positions, especially if your stops are wide enough and far away from market noise. Of course if you scalp the market all day and your stops are in the 5 to 7 pip range, forget about it...
Traders are predictable we like 0's and 5's, some trade religiously by the systems provided by the broker, indicators demonstrated by the broker, strategies taught by the broker.... Ok so maybe your broker isn't a MM... but someone out there is taking the other side of your trade, and they are there to make money, and because we all trade the fundamentals, with indicators preset, with knowledge of when to long or short and what the recommended tp is..we are at a disadvantage...

They know.. they know exactly what your going to do before you do.

If you don't follow the written rules that they set out for us, you become reckless, you are a gambler

Let me tell you, find something that works for you....and then shut up about it, because no system works forever

Waiting for GBPJPY to head up as it pulls back to daily fib 61.8 hopefully see 146.94 and then 147.43 and the charge up to 148
I'll pick up the crumbs don't need the whole pie
  • #25,030
  • Jun 29, 2017 9:24pm Jun 29, 2017 9:24pm
Quoting bigboss
{quote} Hourly and 5 min. :::
Big, big difference between 1-h and 5-min.
  • #25,031
  • Jun 29, 2017 9:30pm Jun 29, 2017 9:30pm
Quoting Quickiepip
Let me tell you, find something that works for you....and then shut up about it, because no system works forever
Again, you can publish the Holy Grail of all trading systems on the front page of the Wall Street Journal and it won't make a difference, at the end of the year you will still have the same proportion of winners and losers.

The famous Turtles for example, they made HUNDREDS of millions with a simple Donchian breakout system (this system has been widely published all over the world) and yet it is still working to this day, more than 30 years later.
  • #25,032
  • Jun 29, 2017 9:38pm Jun 29, 2017 9:38pm
Quoting Mr Breakout
{quote} Again, you can publish the Holy Grail of all trading systems on the front page of the Wall Street Journal and it won't make a difference, at the end of the year you will still have the same proportion of winners and losers. The famous Turtles for example, they made HUNDREDS of millions with a simple Donchian breakout system (this system has been widely published all over the world) and yet it is still working to this day, more than 30 years later.
Yeah but not as well, it was pretty much published when it's usefulness was done.... use it now... see if you make a hundred..lol DUDE
Attached Image
I'll pick up the crumbs don't need the whole pie
  • #25,033
  • Jun 29, 2017 9:40pm Jun 29, 2017 9:40pm
Quoting Mr Breakout
{quote} Big, big difference between 1-h and 5-min.
DClear for me
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYM5res.png Size: 40 KB
  • #25,034
  • Jun 29, 2017 9:46pm Jun 29, 2017 9:46pm
Quoting Quickiepip
{quote} Yeah but not as well, it was pretty much published when it's usefulness was done.... use it now... see if you make a hundred..lol DUDE {image}
Granted, at some point too many Futures traders started to use the system and due to liquidity problem on some thinly traded markets (like Orange Juice or Platinum for example), the return on investment somehow decreased a little.

But guess what?

The Turtles simply changed the look back period from 20 to 40 days and Bingo, the money started to roll in big time.

(If you are interested I can show you trading systems that are still performing after 30 years, with the same exact trading rules.)
  • #25,035
  • Jun 29, 2017 9:46pm Jun 29, 2017 9:46pm
Quoting bigboss
{quote} DClear for me {image} {image}
Clear on everything up to the 4 hour....
I'll pick up the crumbs don't need the whole pie
  • #25,036
  • Jun 29, 2017 9:52pm Jun 29, 2017 9:52pm
Quoting bigboss
{quote} DClear for me {image} {image}
Alright, so where is your entry point, stop and exit exactly?

Please don't tell me the bad bad market makers are going to use that "information" to make money at your expense
  • #25,037
  • Jun 29, 2017 9:53pm Jun 29, 2017 9:53pm
Quoting Mr Breakout
{quote} Granted, at some point too many Futures traders started to use the system and due to liquidity problem on some thinly traded markets (like Orange Juice or Platinum for example), the return on investment somehow decreased a little. But guess what? The Turtles simply changed the look back period from 20 to 40 days and Bingo, the money started to roll in big time. If you are interested I can show you trading systems that are still performing after 30 years, with the same exact trading rules.
Mr. Breakout SIR you are very well read. I have 3 live accounts posted now sir I wonder how long they will last with me kicking convention to the wind... All I need to know is the average movement of the currency I'm trading and I trade accordingly
I'll pick up the crumbs don't need the whole pie
  • #25,038
  • Jun 29, 2017 9:54pm Jun 29, 2017 9:54pm
looks like it might make a move down to 145.34
I'll pick up the crumbs don't need the whole pie
  • #25,039
  • Jun 29, 2017 10:04pm Jun 29, 2017 10:04pm
Quoting Mr Breakout
{quote} Alright, so where is your entry point, stop and exit exactly? Please don't tell me the bad bad market makers are going to use that information to make money
--- I closed my trade with minus 22 pips, if you look at the left down corner of my pics, there is the proof (signaled as -227 beause broker digits). When I realized the existance of the resistance, I closed and decided will wait for the break of that resistance or the pierce of support @ 146.420 . Today is Friday, and many times (not allways, but many), a weekly trend corrects itself by at least 100 pips on friday.

-- I was expecting that correction happen in around 7 hours, so I entered long. Realized about resistance and closed, but losing 22 pips. Now I will wait for definition.


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  • #25,040
  • Jun 29, 2017 10:07pm Jun 29, 2017 10:07pm
Quoting Quickiepip
. All I need to know is the average movement of the currency I'm trading and I trade accordingly
Most GBP moves reverse between 2 AM and 4 AM, New York time (7 AM to 9 AM London or so, depending on the light saving summer/winter time protocol).

Look at your charts my friend, study them carefully, do your homework and then one day it will click, I cannot tell you more...
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