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Dragon Riders GBP/JPY

  • #3,781
  • Feb 12, 2015 12:57pm Feb 12, 2015 12:57pm
Quoting albchr
{quote} Really? You want to buy my GU at 1.55? ... DEAL ... cause I plan to sell all of it there.
No mate, I have confused myself with my own stupid jokes. I just have a partial at 1,55
"I know one thing, that I know nothing." Sokrates
  • #3,782
  • Feb 12, 2015 4:05pm Feb 12, 2015 4:05pm
I will have a pending SELL order @ 183.47 SL 100 pips TP 350 @179.90

Good luck everyone!
  • #3,783
  • Feb 12, 2015 4:18pm Feb 12, 2015 4:18pm
Quoting Ironman777
I will have a pending SELL order @ 183.47 SL 100 pips TP 350 @179.90 Good luck everyone!
I placed a limit sell order at 183.40 a few hours ago. Huh. Just off by 7 pips

Will add further shorts if 183 is penetrated. Partials to be taken around 182.20/00. SL is halfway above fib retracement to 0%, subject to manual intervention. Also, eur/usd, the antithesis of xxx/jpy pairs, continues to rise and retest the 1.40 resistance. One of these pairs-the euro or the yen-will fall.

It'd be great if its the MM having fun testing key areas before dropping both of them. But I don't have my hopes up.
  • #3,784
  • Feb 12, 2015 4:23pm Feb 12, 2015 4:23pm
Quoting Vermillion
{quote} I placed a limit sell order at 183.40 a few hours ago. Huh. Just off by 7 pips Will add further shorts if 183 is penetrated. Partials to be taken around 182.20/00. SL is halfway above fib retracement to 0%, subject to manual intervention. Also, eur/usd, the antithesis of xxx/jpy pairs, continues to rise and retest the 1.40 resistance. One of these pairs-the euro or the yen-will fall. It'd be great if its the MM having fun testing key areas before dropping both of them. But I don't have my hopes up.
May the force and pips be with you my brother!!
  • #3,785
  • Feb 12, 2015 4:24pm Feb 12, 2015 4:24pm
Quoting Ironman777
{quote} May the force and pips be with you my brother!!
Darth pug controlls the force.
"I know one thing, that I know nothing." Sokrates
  • #3,786
  • Feb 12, 2015 4:32pm Feb 12, 2015 4:32pm
Quoting Vermillion
{quote} I placed a limit sell order at 183.40 a few hours ago. Huh. Just off by 7 pips Will add further shorts if 183 is penetrated. Partials to be taken around 182.20/00. SL is halfway above fib retracement to 0%, subject to manual intervention. Also, eur/usd, the antithesis of xxx/jpy pairs, continues to rise and retest the 1.40 resistance. One of these pairs-the euro or the yen-will fall. It'd be great if its the MM having fun testing key areas before dropping both of them. But I don't have my hopes up.
I forgot to mention 2 other trades I'm involved with; 1- is the NZD-USD long @0.7369 I posted yesterday here and I sold today USD-CAD @ 1.2628. I'm in the money on both and will let them run for a few days looking to target 4 cents or so on each but we'll see if they play out accordingly...
  • #3,787
  • Feb 12, 2015 4:35pm Feb 12, 2015 4:35pm
Quoting Tom_D_Trader
{quote} Darth pug controlls the force.
Oh, so it was a dog. For some reason, I always thought your picture was Stewie from Family Guy with his face painted black and white.
  • #3,788
  • Feb 12, 2015 4:39pm Feb 12, 2015 4:39pm
Quoting Tom_D_Trader
{quote} Darth pug controlls the force.
oops!
You're right! Hope you're trading is going well brother!
Nice moves as off late...and now its the time to buy the Yen as it won't have mercy and things are gonna get rattled a bit till mid year...
  • #3,789
  • Feb 12, 2015 4:40pm Feb 12, 2015 4:40pm
Quoting Vermillion
{quote} Oh, so it was a dog. For some reason, I always thought your picture was Stewie from Family Guy with his face painted black and white.
lmao
  • #3,790
  • Feb 12, 2015 4:47pm Feb 12, 2015 4:47pm
Quoting Ironman777
{quote} oops! You're right! Hope you're trading is going well brother! Nice moves as off late...and now its the time to buy the Yen as it won't have mercy and things are gonna get rattled a bit till mid year...
Yes, mid year. I plan to start buying Yen @ April .

Trading not going well, coz I am in loss due to my January exams in school. Was already BE, but todays movement cut me a lot on UJs. Lucky I hedged intraday move against me with GU longs, otherwise it would have been pretty bad day for me. Still holding those Geppys as am short-mid term bullish on GBP and long term bearish on Yen. But... should rumours continue through Asia... am a bit screwed
"I know one thing, that I know nothing." Sokrates
  • #3,791
  • Feb 12, 2015 4:56pm Feb 12, 2015 4:56pm
15 minute Ichimoku is giving a medium strength buy signal but the cloud is turning bearish.

Keep an eye on UJ, its starting to show overbought and giving off short term buy signals but the picture long term is bearish.

I'm currently in short on GJ with a SL of 18355. If the price gets below 18255 I'll probbaly start loading my position up. Hopefully the Asia session will throw me some pips.
  • #3,792
  • Feb 12, 2015 5:04pm Feb 12, 2015 5:04pm
Quoting anima999
15 minute Ichimoku is giving a medium strength buy signal but the cloud is turning bearish. Keep an eye on UJ, its starting to show overbought and giving off short term buy signals but the picture long term is bearish. I'm currently in short on GJ with a SL of 18355. If the price gets below 18255 I'll probbaly start loading my position up. Hopefully the Asia session will throw me some pips.
Nice going! Just make sure u also have a plan for when things don't go as planned and honor it... Good luck
  • #3,793
  • Feb 12, 2015 5:10pm Feb 12, 2015 5:10pm
Quoting Tom_D_Trader
{quote} Yes, mid year. I plan to start buying Yen @ April . Trading not going well, coz I am in loss due to my January exams in school. Was already BE, but todays movement cut me a lot on UJs. Lucky I hedged intraday move against me with GU longs, otherwise it would have been pretty bad day for me. Still holding those Geppys as am short-mid term bullish on GBP and long term bearish on Yen. But... should rumours continue through Asia... am a bit screwed
I was thinking...maybe you out to adjust the time frames you trade out off for when in school...so that u know what and when to expect of your trades.IMHO
  • #3,794
  • Feb 12, 2015 5:12pm Feb 12, 2015 5:12pm
Quoting Ironman777
{quote} I was thinking...maybe you out to adjust the time frames you trade out off for when in school...so that u know what and when to expect of your trades.IMHO
I know! Told ya I have ego issues. Wanted to handle all, then SNB, ECB QE, FOMC panic, NFP... screw this
"I know one thing, that I know nothing." Sokrates
  • #3,795
  • Feb 12, 2015 5:25pm Feb 12, 2015 5:25pm
Quoting Tom_D_Trader
{quote} I know! Told ya I have ego issues. Wanted to handle all, then SNB, ECB QE, FOMC panic, NFP... screw this
This business can be rewarding but the fact is that no one can tell you (unless you are being mentored) right or wrong but yourself...GOT to respect the market and know when things are going good and when not...otherwise you are gonna go bust time and time again cause only you can make those rules or guidelines that work for you. I remember I struggled in similar ways till I was told to think in pips(points, ticks, etc.)and to take out of my screen all related windows that show $$ or switch to pip counts instead and overall from the moment you are planning your trades do em counting in pips...Just saying that's what helped me but you might have different issues, don't know.

Hope it helps
  • #3,796
  • Edited 5:50pm Feb 12, 2015 5:28pm | Edited 5:50pm
Quoting Ironman777
{quote} This business can be rewarding but the fact is that no one can tell you (unless you are being mentored) right or wrong but yourself...GOT to respect the market and know when things are going good and when not...otherwise you are gonna go bust time and time again cause only you can make those rules or guidelines that work for you. I remember I struggled in similar ways till I was told to think in pips(points, ticks, etc.)and to take out of my screen all related windows that show $$ or switch to pip counts instead and overall from the moment...
Yes, it helps, thanks. I like to talk about psychology, because is very important issue.

I have it included in my plan. I know my ego will screw me up, so never listen to him 100%. As I have said, is like 50/50. 50% precise trading plan and precise entries, 50% intraday moves + news analysis, where my psychology plays much heavier.

Edit: See now example of how ego affects intraday psychology: There goes news BoJ will stop expanding. As am long term Yen bear, I instantly think: "Wtf, says who? Some official again! Clear hoax." And wont cover as much as I should have. So my technical stops kicked me out, while I wasnt able to decide if hoax or not.

1 more edit: But, after a calm thinking and few joints, am more and more convinced is a clear hoax, and was just counterrumour because of market NFP overshoot.

Asia starting to go after me. Gotta micromanage, cya later
"I know one thing, that I know nothing." Sokrates
  • #3,797
  • Feb 12, 2015 5:59pm Feb 12, 2015 5:59pm
Oh come on. We just barely hit 183.30, and it dropped to 183. I wanted 183.40 to short =/

geppy is looking like it wants to have another bear run....but I have no positions as of yet
  • #3,798
  • Feb 12, 2015 6:07pm Feb 12, 2015 6:07pm
Yep pretty uneventful thus far, anyone have any targets in mind?
  • #3,799
  • Feb 12, 2015 6:24pm Feb 12, 2015 6:24pm
Stupid chart, I know. And the day is young still in Tokyo. But could be a flag. Kind of.

Also seems Oil may have run out of bounce steam.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 54 KB
"I know one thing, that I know nothing." Sokrates
  • #3,800
  • Feb 12, 2015 6:30pm Feb 12, 2015 6:30pm
Quoting Tom_D_Trader
{quote} Yes, it helps, thanks. I like to talk about psychology, because is very important issue. I have it included in my plan. I know my ego will screw me up, so never listen to him 100%. As I have said, is like 50/50. 50% precise trading plan and precise entries, 50% intraday moves + news analysis, where my psychology plays much heavier.
I think GREED! is fucking with your head...

It is hard to stick with your plan when the ATR of the pairs go up because of volatility.(big swings up and down) Because of the fact that we don't want to miss out on the opportunities and want to make the most pips possible...Here comes the but, if you plan your trades based on the 5 min time frame you should at least be in sync with the 15 mins to where if u are going long the 15 min should be at support and then trigger off of the 5 mins...I'm sure this is nothing new. The problem is when things get ugly and all of sudden the market hints you that its going long and then bam! slam you with another big fat candle to the down side then you start to question your plan and then say let me go the the 1 hr chart and then it will turn from there cause it looks better from this chart and I KNOW it will turn around and I'll be ok...then stops are moved or deleted and we start the celestial game of praying cause it probably worked once already and now it's got to work again...

I use to have this problem at the beginning and I was able to fix it only by making "HARD ASS RULES"
MY fix; I made up a fixed amount of pips I wanted to produced daily (let's say 50 pips when day trading) and then I said I would get them in 3 trades (1 of 10 and 2 of 20) and only and only if I was able to make my daily pips I would reward myself with the opportunity to place one more trade cause you got to admit I'm doing good here so I can keep on trading and making extra pips for the not so good days or loosing trades...what this di was, It made me take only the best set ups I new had worked for me in the past and that was gonna be the only way I would keep trading.

The days when I lost from the beginning after my 3 strikes another HARD ASS RULE was to just shut down my laptop then and not reward myself to keep trading till I would bring back my A game...the days I would make my 50 and keep trading and then started to loose then you just can't loose more than the 50 pips you just made cause if not I just had to shut down and walk away till next day...

That was the way I learned how to trade... Again you got to make your rules the way you see fit...
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