Dragon Riders GBP/JPY

Quoting FX-Ray

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{quote} Should have told you before, well at least you were busy

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Quoting anima999

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{quote} Hi Ray, Thanks again for your work. 26% is still in my crosshairs. Is there anything to be inferred from the amount of DPs, the distance between them, the amount between top/bottom and that there are more bull than bear.....or is that just the way it is? Cheers

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Quoting FX-Ray

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{quote} It depends on market behaviour, I can recommend to follow the flow and use DPs as reference. For DPs containing a relatively big range I added 1/4, this acts like 1/2 to a full DP. Try to see them as a TFs. Full DP largest, 1/2 mid-term and 1/4 treat like short term. Currently im paying attention to 1/2 177.25/15; if we see a sell-off to this point + strong rejection and able to sustain above DP 178.70/60 we could see a sentiment change in price to the upside. Since the week just began I just recommend to watch the market and wait what she...

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Quoting FX-Ray

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{quote} It depends on market behaviour, I can recommend to follow the flow and use DPs as reference. For DPs containing a relatively big range I added 1/4, this acts like 1/2 to a full DP. Try to see them as a TFs. Full DP largest, 1/2 mid-term and 1/4 treat like short term. Currently im paying attention to 1/2 177.25/15; if we see a sell-off to this point + strong rejection and able to sustain above DP 178.70/60 we could see a sentiment change in price to the upside. Since the week just began I just recommend to watch the market and wait what she...

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Quoting Hickson

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{quote} I am excited to load some long term positions for days and weeks. I think I have the patience now ...

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Quoting FX-Ray

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{quote} I think its important to know when to stay out of the market and let things happen. This is also a sign of confidence and faith. If you dont know, admit it and be in peace with it, if you have an idea approach it cautiously and let your position prove you right or wrong. I got the significant decision points and thats what I only need since I cant predict the future. I think its also important to really know (not think you know) you cant predict the future.

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Quoting Hickson

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{quote} I am excited to load some long term positions for days and weeks. I think I have the patience now ...

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Quoting forexalien

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{quote} Please wait on taking anything long at this time.................M15 is nearing a top and the H1 looks to fall again ...................... {image}

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Quoting FX-Ray

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{quote} I think its important to know when to stay out of the market and let things happen. This is also a sign of confidence and faith. If you dont know, admit it and be in peace with it (accepting uncertainty), if you have an idea approach it cautiously and let your position proves you right or wrong. I got the significant decision points and thats what I only need since I cant predict the future. Im convinced its also important to really know (not think you know) you cant predict the future. Add(1): for instance 1/2 179.10/00; if support...

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Quoting forexalien

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{quote} Please wait on taking anything long at this time.................M15 is nearing a top and the H1 looks to fall again ...................... {image}

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Quoting forexalien

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Can't agree with you more.....................

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Quoting Hickson

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{quote} Hi forexalien, thanks for your concern. I am flat at Geppy atm and will wait until tomorrow! Laters, gn8

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Quoting FX-Ray

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{quote} I think its important to know when to stay out of the market and let things happen. This is also a sign of confidence and faith. If you dont know, admit it and be in peace with it (accepting uncertainty), if you have an idea approach it cautiously and let your position proves you right or wrong. I got the significant decision points and thats what I only need since I cant predict the future. Im convinced its also important to really know (not think you know) you cant predict the future. Add: for instance 1/2 179.10/00; if support next probably...

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Quoting FX-Ray

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{quote} Thanks mate. If this week will be like last week, strong down week, my optimal target is DP 175.80/70

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Quoting FX-Ray

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{quote} sleep well dude {image}

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Quoting Hickson

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{quote} Thanks, you too! Gn8 everyone.

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Quoting anima999

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{quote} Yep. Personally I always struggle with the exit. Waiting for an entry I find is the easy part (I read the paper in your first post and the part about minimising risk by staying out of the market for as long as possible resonated with me), waiting for price to move further in my favour when I'm in and +30 pips up...I tend to flinch at the first sign of an opposite candle. Hence why last week all but 2 of my trades, out of 12, ended in a profit. Overall I made 14.1% but if I had waited it would have been much higher...to the tune of a couple...

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Quoting workingforex

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{quote} Thanks for the DPs. Sounds good, will have to be patient this weeks it seems before jumping on! Will sit back and watch the market for a while. Got EU to watch as well. PS Add: Early/start of the week and 79 traders viewing.

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Quoting FX-Ray

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{quote} Look last week was more or less clear, it wasnt rocketscience to ride it to the downside using the DPs but thats what the market offered and thats what we've taken but there is a fallacy here: We tend to adjust our expectations to our most recent outcome, in this case last week. Treat every day and week as a new one and expect the unexpected. Expect things not may happen as you think they should. Dont trap yourself. Be open-minded and monitor it.

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