Dragon Riders GBP/JPY | Page 547 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

Enter The Dragon - GBP/JPY 2 replies

Info on the Borihei-Dragon Scalping System? 15 replies

The Dragon 441 replies

Scalping The Dragon 34 replies

***Dragon II*** 15 replies

Attachments: Dragon Riders GBP/JPY
Exit Attachments

Dragon Riders GBP/JPY

  • #10,921
  • May 8, 2015 6:25am May 8, 2015 6:25am
Quoting Talzus
{quote} Thank you Alexpi; Yes, That's fine. I just needed a basic understanding to get rid of the confusion. It tends to do the opposite what I expect, I then change what I expect and it does the opposite still... So, I'm lost as far as fundamentals go.. Still to my charts, charts don't lie
That's because you need to understand the demand/supply and deal flow that lies below the price movements, why people - whether banks, retail traders, hedge funds, central banks or algorithms (made by people so still human IMO) do what they do. For that you just need to look at the graphs for a long enough time and learn some macroeconomics and microeconomics, as well as a bit of psychology. Of course, you don't NEED this to be a successful trader, it's just good to have it, it's another advantage.

I think you haven't been trading long, right? Just give time time, dedicate yourself to improving and keep trading. When you learn all the ways to lose you will know how to win, by way of exclusion
  • #10,922
  • May 8, 2015 6:33am May 8, 2015 6:33am
Quoting alexpi
{quote} That's because you need to understand the demand/supply and deal flow that lies below the price movements, why people - whether banks, retail traders, hedge funds, central banks or algorithms (made by people so still human IMO) do what they do. For that you just need to look at the graphs for a long enough time and learn some macroeconomics and microeconomics, as well as a bit of psychology. I think you haven't been trading long, right? Just give time time, dedicate yourself to improving and keep trading. When you learn all the ways to...
Yeah, I've got the basics. I understand the charts and basic indicators. I've read a shed load. I've only been trading just over a month on my practice account. So far I am nearly 400 pips up. Beginners luck

I think you're right; I need to understand where other people are trading and why they are trading there. Charts give so much information away I tend to ignore the fundamentals, its just white noise for me and adds confusion rather than clearing up. I don't need to know why, I just trade what is. Though, ignoring completely; for example the NFP news is dangerous. That being said, I have had a few light bulb moments over the last month. For example; price doesn't just go down because people are shorting, it also goes down because people are closing a long position... It seems so simple but explains so much

I'm trying to expand my understanding.

Sorry for the digression and thank you for taking the time to reply.
  • #10,923
  • May 8, 2015 6:43am May 8, 2015 6:43am
181 served me well
im out here in dp 185.5
ty ray epic
0 fcks given
  • #10,924
  • Edited 7:04am May 8, 2015 6:46am | Edited 7:04am
Quoting r4nd0m
181 served me well im out here in dp 185.5 ty ray epic
You really held on well to that!

Edit: Yes, Talzus, that's the point. On the macro level everything is simple once you get it, it's just a matter of taking the time to understand and then learning how to apply it
  • #10,925
  • May 8, 2015 7:35am May 8, 2015 7:35am
Grabbing a (small) EU short at 1.1255. Might just ride it to parity

Couldn't get back into the GJ short at 185.4 so I'm sitting out until Monday
  • #10,926
  • May 8, 2015 9:34am May 8, 2015 9:34am
Have a pleasant weekend everyone, hope no one got burned in this crazy week
  • #10,927
  • May 9, 2015 9:24pm May 9, 2015 9:24pm
looking to short EU and CJ to start the week
EU target is 108/107
CJ is to about 98.40/20
  • #10,928
  • May 10, 2015 8:03pm May 10, 2015 8:03pm
I guess it's tryin ta go on downward....
  • #10,929
  • Edited 10:23pm May 10, 2015 8:21pm | Edited 10:23pm
Quoting raiders
looking to short EU and CJ to start the week EU target is 108/107 CJ is to about 98.40/20
thinking i might get out at 109 on EU to be safe. have not taken a short yet on CJ but long term i think this MIGHT drop to 88 so theres lots of time to find setups and if not...whatever

if all goes according to plan i expect EU to bounce back up to 117ish then drop back down to 1.07. but I will only take half position on the bounce of 117 if it happens then the other half at around 105
  • #10,930
  • May 10, 2015 11:03pm May 10, 2015 11:03pm
I agree, one day till it drops....something like that, huh!....cause here comes two days of Greece in the headlines
  • #10,931
  • May 10, 2015 11:12pm May 10, 2015 11:12pm
Good morning all! Seeing as Geppy couldn't close below 184 even on the 15m last week I'll be looking to long for now. Might just not enter any GJ/GU trades with bank rate news coming in 7 hours
  • #10,932
  • May 11, 2015 12:10am May 11, 2015 12:10am
Caught one from the bottom
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 31 KB
  • #10,933
  • May 11, 2015 12:36am May 11, 2015 12:36am
Selling this rate here at 184.75
Be humble or be humbled.
  • #10,934
  • May 11, 2015 1:13am May 11, 2015 1:13am
Quoting alexpi
Caught one from the bottom {image}
Made an amateur mistake - moved SL higher to 178.78. Price hit it on the retest down and departed. Profit is profit, but it's aggravating when you switch things up based on fear and miss the greater good because of that... Just watching for the next few hours, not gonna chase this
  • #10,935
  • May 11, 2015 4:38am May 11, 2015 4:38am
Guys,

if interest rates stay at .5% would this be considered GBP strengthing? Well, I assume an increase in interest rate would be a more hawkish move and lower would be considered weakening, but a no increase/decrease, would that have much effect?

Will help me plan my trades to understand this a bit better.
  • #10,936
  • May 11, 2015 6:21am May 11, 2015 6:21am
It depends on market expectations. If everyone expects maintaining of rates and they get maintained it will not have an effect usually. If everyone expects maintaining but they get lowered/hiked it will have a huge impact on bear/bull side.
  • #10,937
  • May 11, 2015 6:30am May 11, 2015 6:30am
Quoting alexpi
It depends on market expectations. If everyone expects maintaining of rates and they get maintained it will not have an effect usually. If everyone expects maintaining but they get lowered/hiked it will have a huge impact on bear/bull side.

Cool,

Makes sense. Thanks.
  • #10,938
  • May 11, 2015 7:32am May 11, 2015 7:32am
GBPJPY seems to have give a strong break-out and follow through momentum above 185.00 mark and now clearly seems to be headed towards its next resistance near 187.50 area.
  • #10,939
  • May 11, 2015 7:33am May 11, 2015 7:33am
Quoting Temujin
Selling this rate here at 184.75
Loss of 110 pips. Better go back to trading things that make sense to me.
Be humble or be humbled.
  • #10,940
  • May 11, 2015 7:39am May 11, 2015 7:39am
I'm looking for shorts from here on
39 traders viewing now