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Dragon Riders GBP/JPY

  • #4,701
  • Feb 25, 2015 1:47am Feb 25, 2015 1:47am
Quoting workingforex
{quote} Yes I get that, how do you determine stops in this case and would you enter on first test of the level or wait for a retest ? Also when it is in tight range the levels would be more prominent in this case, what do you think ?
Usually I get in without confirmation, I make money by adding to my position if market proves me right. In general thats a difficult question to answer, I think you really need to find what works for you.
  • #4,702
  • Feb 25, 2015 1:47am Feb 25, 2015 1:47am
Quoting workingforex
{quote} Yes I get that, how do you determine stops in this case and would you enter on first test of the level or wait for a retest ? Also when it is in tight range the levels would be more prominent in this case, what do you think ? Edit: Also if you miss in the first instance, like I did currently, what should be the approach.
Add: If you missed, accept it and get over it as soon as possible, market wont run away, lean back and watch.
  • #4,703
  • Feb 25, 2015 1:49am Feb 25, 2015 1:49am
Carney in 12 minutes, took partials for worst case, I let remaining run, risks considered.

Add: If it breaks through 183.85/75; I gonna hold this.
  • #4,704
  • Feb 25, 2015 1:53am Feb 25, 2015 1:53am
Quoting FX-Ray
{quote} Usually I get in without confirmation, I make money by adding to my position if market proves me right. In general thats a difficult question to answer, I think you really need to find what works for you.
Yes I understand that is tough thing to generalize but thank you for answering. I would add if one is conservative in approach, like me, would wait.

One more thing, how would you determine stop in this case, like yesterday, I entered right on GJ and was moving okay, didn't move the stop and then was stopped out. Again this would a tough question as there would be no set answer for it but just wanted to see your opinion.

Hope I am not troubling you too much early in the day!
  • #4,705
  • Feb 25, 2015 1:56am Feb 25, 2015 1:56am
Had a sell order @184.500 took for 34 pips profit before Carney blabs. 10 pip stop Great analysis FX-Ray

C
  • #4,706
  • Feb 25, 2015 1:57am Feb 25, 2015 1:57am
Quoting workingforex
{quote} Yes I understand that is tough thing to generalize but thank you for answering. I would add if one is conservative in approach, like me, would wait. One more thing, how would you determine stop in this case, like yesterday, I entered right on GJ and was moving okay, didn't move the stop and then was stopped out. Again this would a tough question as there would be no set answer for it but just wanted to see your opinion. Hope I am not troubling you too much early in the day!
Place your SL where you know you are wrong, when there is no reason to be in the trade anymore and trade size which doesn't effect you emotionally considering your account size.
  • #4,707
  • Feb 25, 2015 1:57am Feb 25, 2015 1:57am
Quoting mello87
Had a sell order @184.500 took for 34 pips profit before Carney blabs. 10 pip stop Great analysis FX-Ray C
thank you sir, well done
  • #4,708
  • Feb 25, 2015 1:59am Feb 25, 2015 1:59am
showtime
  • #4,709
  • Feb 25, 2015 2:04am Feb 25, 2015 2:04am
Quoting FX-Ray
{quote} Place your SL where you know you are wrong, when there is no reason to be in the trade anymore and trade size which doesn't effect you emotionally considering your account size.
Yes these things are difficult to master but I am learning them, usually try not to take un-necessary risks and try to control my emotions if it moves away! As you rightly said, market is not going anywhere, you will definitely get your chances if you got capital to survive another day!
  • #4,710
  • Feb 25, 2015 2:08am Feb 25, 2015 2:08am
Attached Image (click to enlarge)
Click to Enlarge Name: gj op.gif Size: 52 KB
  • #4,711
  • Feb 25, 2015 2:20am Feb 25, 2015 2:20am
Quoting FX-Ray
showtime
unspectacular; off for breakfast bbl
  • #4,712
  • Feb 25, 2015 2:30am Feb 25, 2015 2:30am
Quoting workingforex
{quote} Love it what you been doing on GJ on both sides! Got burnt twice yesterday, so will leave that for today or just watch for now. On EU still waiting to be filled, with zones marked, what do you say ? {image}
Hi workingforex, I like the visualisation of the S/D areas on your chart. How do you draw these? I want to implement this since I believe more in zones than exact lines.
Fix up, trade sharp ...
  • #4,713
  • Feb 25, 2015 2:34am Feb 25, 2015 2:34am
my order waiting on 182.50 target 185...
  • #4,714
  • Feb 25, 2015 2:34am Feb 25, 2015 2:34am
Quoting FX-Ray
{quote} unspectacular; off for breakfast bbl
"“People who get up early in the morning cause war, death and famine.”
Fix up, trade sharp ...
  • #4,715
  • Feb 25, 2015 2:40am Feb 25, 2015 2:40am
Quoting Hickson
{quote} "People who get up early in the morning cause war, death and famine.

Been trading for years, and this never gets easier. Feel like all three every morning
  • #4,716
  • Feb 25, 2015 2:42am Feb 25, 2015 2:42am
Hey guys, i'm short now. SL 184.700.

Hopefully the time is right tho
Attached Image (click to enlarge)
Click to Enlarge Name: GJ25.2.PNG Size: 48 KB
There is no profitable or non-profitable day, trade is a trade.
  • #4,717
  • Feb 25, 2015 2:47am Feb 25, 2015 2:47am
Quoting dragonheart
Hello !! i'm new here Short at 184.153 {image}
Hi! Let's see how far it goes ...
Fix up, trade sharp ...
  • #4,718
  • Feb 25, 2015 2:48am Feb 25, 2015 2:48am
Quoting dzulmonster
Hey guys, i'm short now. SL 184.700. Hopefully the time is right tho {image}
i will buy it from you on 182.50
  • #4,719
  • Feb 25, 2015 2:51am Feb 25, 2015 2:51am
Quoting Hickson
{quote} Hi workingforex, I like the visualisation of the S/D areas on your chart. How do you draw these? I want to implement this since I believe more in zones than exact lines.
They are all manually drawn and took some levels from

http://www.forexfactory.com/attachme...2&d=1424857069 as posted by Fx-Ray! They are golden levels if you understand them, quite tough ask though!

Did not get filled though, just staying put for now!
  • #4,720
  • Feb 25, 2015 3:16am Feb 25, 2015 3:16am
This move brings back memories of my first trade on GJ in early 2010. It climbed and climbed ... and kept climbing but really got nowhere. I recall that everyone had shorts everywhere. Then, one night support counted for nothing and it fell 1000 pips at such a speed that it was hard to keep up with. Any monies I picked up where not from any skill, but 100% pure luck.

After 3 weeks we trade about 5 pips above earlier highs. It's either a very slow genuine up trend ... or something that may release violently. My logic is tiring fast. Maybe faster than my patience.
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