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Dragon Riders GBP/JPY

  • #25,421
  • Jul 11, 2017 3:29pm Jul 11, 2017 3:29pm
Quoting pipmaster77
{quote} Nothing against Mr. Breakout, but why would you be asking someone else's advice on your money? That's like the sports gambler down with his bookie paying a sports service for their "expert" picks.
Nothing bro I am just asking no personal. I love this group and everyone and you know, I am new and going through a very tough time I just totally lost my confidence on me that's why I asked.
  • #25,422
  • Jul 11, 2017 3:31pm Jul 11, 2017 3:31pm
Quoting Mr Breakout
{quote} And even if the fundamentals analysis of the trader is 100% correct, he could still lose tons of money if his timing was wrong! Personally I use the charts and the charts only, the rest is just conversation between two beers at the pub.
That's the truth
  • #25,423
  • Jul 11, 2017 3:32pm Jul 11, 2017 3:32pm
Quoting Mr Breakout
{quote} For me fundamentals are totally useless as a predictive tool on future market movement. At best they can explain the WHY (after the facts of course...), but they can never give us the WHEN and HOW (specific entry/exit points, stop loss, targets, % of money to allocate, etc...). And even if the fundamentals analysis of the trader is 100% correct, he could still lose tons of money if his timing was wrong! Personally I use the charts and the charts only, the rest is just conversation.
Of course but we are not talking about precise entries here. The question was regarding the macro picture.
Macro picture is dictated by fundamentals. Institutional traders spend 90% of their time on fundamental analysis and 10% on technical entries because if you get your macros wrong all the technical analysis in the world is not going to help.
Boxing clever since 76.
  • #25,424
  • Jul 11, 2017 3:33pm Jul 11, 2017 3:33pm
Quoting copi88
{quote} Blue line is the main value line for UJ. You can see it has come off on the weekly. I am short at 114.50 and expect it to come off a bit. {image}
Thanks bro but I don't understand clearly your chart just let me know when you close your short. Then I will take my lose and go long with you.
  • #25,425
  • Jul 11, 2017 3:44pm Jul 11, 2017 3:44pm
Quoting Situhin
{quote} Thanks bro but I don't understand clearly your chart just let me know when you close your short. Then I will take my lose and go long with you.
--- Cutting philosophical talk, I understand you are searching for a practical advise. More practical thing you can do is to put a line in the sand (meaning in your chart). Above you close, below you sustain. Meantime, if your equity allow to, you can trade another pairs to compensate the pending loss pips, looking to equalize them (or If you have luck and trend goes down, add another sell in your pair). When they reach your risk tolerance, free yourself, close it no matter what without regrets, and move on with lesson learned.--------



::::::
  • #25,426
  • Jul 11, 2017 3:46pm Jul 11, 2017 3:46pm
Quoting copi88
Institutional traders spend 90% of their time on fundamental analysis and 10% on technical entries
Not so sure about that, because if fundamental analysis had any predictive power, economics professors would all be billionaires by now.

Quoting copi88
if you get your macros wrong all the technical analysis in the world is not going to help.
There is no doubt in my mind that we don't need macros to make profitable trading decisions.
We can make a good living with simple trend-following and/or breakout techniques, no need to study micro and macro economics in Harvard or Oxford to make it in this business.

In fact these MBA and PHD in economics from these prestigious schools are lousy traders in general, despite their vast knowledge.
  • #25,427
  • Jul 11, 2017 3:59pm Jul 11, 2017 3:59pm
Quoting Situhin
I have a question for Mr Breakout. What is your thoughts about USDJPY. I m holding a sell on 109 please don't ask why(I m an idiot). Is there any chance usdjpy go down.
You have a pending short order on USD/JPY at 109.00, 500 pips below current price, is that correct?
If so what time frame are using, daily, weekly?
  • #25,428
  • Jul 11, 2017 4:18pm Jul 11, 2017 4:18pm
Quoting pipmaster77
{quote} I have the same question for malcolmb. The EURAUD, GBPAUD EURCAD and GBPCAD are the 4 easiest pairs to trade without exception. AUDJPY and CADJPY are right behind. It is actually the US bullshit pairs that lose you money
Sure, some pairs are easier to trade than other currency pairs, but for me they all offer trading opportunities every day/week/month.
Personally I follow them all, 28 different currency pairs to be exact (from the majors: EUR, USD, JPY, GBP, AUD, CAD, CHF, NZD).

Well except the EUR/CHF, I mean what a stupid boring pair!
  • #25,429
  • Jul 11, 2017 5:24pm Jul 11, 2017 5:24pm
Quoting RondaRousey
{quote} macro or technical...so you want to be a guru. The real question is did you make over 450 pips the last 15-20 days trading GBP/JPY? If not, why not?
Wow, is that all you ever post..... If you didn't make 500 pips, market got you, etc, etc. Where's your TE?
  • #25,430
  • Edited 6:41pm Jul 11, 2017 5:35pm | Edited 6:41pm
Quoting RondaRousey
The real question is did you make over 450 pips the last 15-20 days trading GBP/JPY? If not, why not?
GBP/JPY dropped 10 000 pips since July 2007, so the real question is : did you catch that move?

If not, why not?

Please don't tell me your internet connection was down.
  • #25,431
  • Jul 11, 2017 6:38pm Jul 11, 2017 6:38pm
Quoting RondaRousey
{quote} macro or technical...so you want to be a guru. The real question is did you make over 450 pips the last 15-20 days trading GBP/JPY? If not, why not?
Because some of us are still newbies at this trading thing and tend to still make mistakes....
  • #25,432
  • Jul 11, 2017 7:32pm Jul 11, 2017 7:32pm
support at 145.82, let`s see
  • #25,433
  • Jul 11, 2017 7:34pm Jul 11, 2017 7:34pm
Quoting RondaRousey
{quote} macro or technical...so you want to be a guru. The real question is did you make over 450 pips the last 15-20 days trading GBP/JPY? If not, why not?
I would like to see your FF... We all can read the market after it's been written...lolololololol
I'll pick up the crumbs don't need the whole pie
  • #25,434
  • Edited 7:59pm Jul 11, 2017 7:40pm | Edited 7:59pm
Buying right there at 145.71....
my other buddy in Paris says if 145.75 breaks buy for 145.75 at 145.19

Attached Image
Roberts stuff how cool

Attached Image
  • #25,435
  • Jul 11, 2017 7:49pm Jul 11, 2017 7:49pm
Quoting copi88
{quote} Blue line is the main value line for UJ. You can see it has come off on the weekly. I am short at 114.50 and expect it to come off a bit. {image}
@copi88,
What do you use to compute your "value line"?
  • #25,436
  • Jul 11, 2017 8:11pm Jul 11, 2017 8:11pm
Quoting Quickiepip
... We all can read the market after it's been written...lolololololol
Yep, predicting the past is easy.
  • #25,437
  • Jul 11, 2017 9:54pm Jul 11, 2017 9:54pm
Quoting Mr Breakout
{quote} You have a pending short order on USD/JPY at 109.00, 500 pips below current price, is that correct? If so what time frame are using, daily, weekly?
No sir, not pending order.
  • #25,438
  • Jul 11, 2017 10:04pm Jul 11, 2017 10:04pm
Gbp/nzd is in 1.77 area again does anyone any plan to go long. Should I
  • #25,439
  • Jul 11, 2017 10:10pm Jul 11, 2017 10:10pm
Quoting bigboss
{quote} --- Cutting philosophical talk, I understand you are searching for a practical advise. More practical thing you can do is to put a line in the sand (meaning in your chart). Above you close, below you sustain. Meantime, if your equity allow to, you can trade another pairs to compensate the pending loss pips, looking to equalize them (or If you have luck and trend goes down, add another sell in your pair). When they reach your risk tolerance, free yourself, close it no matter what without regrets, and move on with lesson learned.-------- ::::::...
Thanks bigboss
  • #25,440
  • Jul 11, 2017 10:14pm Jul 11, 2017 10:14pm
Quoting Situhin
Gbp/nzd is in 1.77 area again does anyone any plan to go long. Should I
I plan to go short at 1.7780, 35 pip stop.
First target is 1.7730 (50 pips).
(Trade at your own risk folks).
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