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Dragon Riders GBP/JPY

  • #13,061
  • Nov 25, 2015 12:27pm Nov 25, 2015 12:27pm
Quoting gabe32
Closed my long an entered a short. Should have just done a partial close. But oh well. Markets will tell.
well, at least today we made profit, so whatever.
Fix up, trade sharp ...
  • #13,062
  • Nov 25, 2015 12:40pm Nov 25, 2015 12:40pm
Quoting Hickson
{quote} well, at least today we made profit, so whatever.
True.
  • #13,063
  • Nov 25, 2015 2:39pm Nov 25, 2015 2:39pm
Quoting Hickson
{quote} well, at least today we made profit, so whatever.
you had that spot pegged perfectly. Good Job with that
  • #13,064
  • Nov 25, 2015 2:47pm Nov 25, 2015 2:47pm
anyways, the more i look the more im wondering if 184.3 might be the bottom of this move. EU looks to be in a falling wedge which might just send euro up soon. GU looks like it found a bottom recently as well. GA looking like it wants to rise as does GN. AU looks like it wants to pop out of its consolidation after breaking a descending channel. If USD really is getting weaker across the board and GBP looking like its found a bottom I see no reason why not to start buying dips again. Liquidity sucks this week so im not sure im ready to start buying with conviction just yet but im thinking im gonna start slowly and see if theres follow through for next week.
  • #13,065
  • Nov 25, 2015 3:02pm Nov 25, 2015 3:02pm
Quoting raiders
{quote} you had that spot pegged perfectly. Good Job with that
Thanks, but still a mistake on MM ... two trades at BE today that should have been left on now, at least one. Well, you live and you learn.
Fix up, trade sharp ...
  • #13,066
  • Nov 25, 2015 6:23pm Nov 25, 2015 6:23pm
GJ 30M Possible structure
Gonna take a stab at buying off that bottom line if it gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 30.png Size: 52 KB
  • #13,067
  • Nov 25, 2015 9:31pm Nov 25, 2015 9:31pm
Quoting Bramble07
Hi Ray New to the forex trading and trying to understand how your chart above and the levels works Sorry if this has been asked previously
He's developed an algorithm, but if you follow his posts for long enough, you can start spotting those areas on the charts. That's what I do now.

Although my method is different. I've had to develop a system because I'm only a part-time trader, and was losing too much trying to trade using methods that full-time traders use. But his concept of "price returning to certain levels" is most definitely true. It's true with both short term and long term trades.
  • #13,068
  • Edited 10:57pm Nov 25, 2015 9:47pm | Edited 10:57pm
[quote=raiders;8611205]GJ 30M Possible structure Gonna take a stab at buying off that bottom line if it gets there.

looks good....the trend lines mean more to the big boys than anything..... more than fibo's and ema crossovers .Says Carol Charmer....my girlfriend in London....

and that Nikkei is gapped to the upside....party
  • #13,069
  • Edited 12:32am Nov 26, 2015 12:20am | Edited 12:32am
There's us a small long at 185.33....not too bad of a probability.....6 pip stop and 20% of the account....100:1


when ya do this....do not walk away from the screens.....don't have just one terminal running....no adding and lock it in at 8 pips....

watchin the 30 minute mark action. the 30 minute strait down trades confirm at .52.....ya wait 22 minutes checking for stalling...
  • #13,070
  • Nov 26, 2015 12:46am Nov 26, 2015 12:46am
after further review im seeing possible head and shoulders pattern on the 30M. went long at 185.35 gonna add if it breaks 185.80
  • #13,071
  • Nov 26, 2015 3:21am Nov 26, 2015 3:21am
Quoting 4xNewGuy
{quote} He's developed an algorithm, but if you follow his posts for long enough, you can start spotting those areas on the charts. That's what I do now. Although my method is different. I've had to develop a system because I'm only a part-time trader, and was losing too much trying to trade using methods that full-time traders use. But his concept of "price returning to certain levels" is most definitely true. It's true with both short term and long term trades.
Thanks New Guy - I thought that might be the case. I wondered if he had posted previously saying how it worked. I'll keep watching and learning. Good thread.
  • #13,072
  • Nov 26, 2015 4:45am Nov 26, 2015 4:45am
Attached Image
Exits == most important part of your strategy
  • #13,073
  • Nov 26, 2015 5:23am Nov 26, 2015 5:23am
Let's see what path the dragon travels

H1 chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 27 KB
persistence and determination alone are omnipotent
  • #13,074
  • Edited 6:46am Nov 26, 2015 6:35am | Edited 6:46am
Quoting Bramble07
{quote} Thanks New Guy - I thought that might be the case. I wondered if he had posted previously saying how it worked. I'll keep watching and learning. Good thread.
He has posted excel files in the past. But I mean, with forex, it's a lot of work to become successful at. Nobody invests thousands of man hours into their job, and just gives away a successful method for free.

But he is really good with teaching people as long as you show some respect. He and two others that I've learned from have helped me out greatly. I still wouldn't be involved in the markets if it weren't for their patience and assistance.

Judging by the way all 3 of them trade, and how consistently successful they are, they don't need to be helping other people out. They could just sit back, go click click, then sip on champagne for the rest of their lives. That right there is testament enough to the quality of their character.

Just be diligent, observe the patterns, and the means to be successful at forex will present themselves to you.

edit: If you are new, I should also add, focus on a few pairs at first. Study their movements with pure obsession. Once you're competent in understanding them, then branch out into other pairs. See how they play off each other's strengths and weaknesses, and you'll find some solid entries as well as exits. If you're not new, disregard what I just said.
  • #13,075
  • Nov 26, 2015 7:47am Nov 26, 2015 7:47am
The best advice you can get is to treat this as a business.... no trading when you are tired/sleepy or distracted.
  • #13,076
  • Nov 26, 2015 8:00am Nov 26, 2015 8:00am
Quoting 4xNewGuy
{quote} He has posted excel files in the past. But I mean, with forex, it's a lot of work to become successful at. Nobody invests thousands of man hours into their job, and just gives away a successful method for free. But he is really good with teaching people as long as you show some respect. He and two others that I've learned from have helped me out greatly. I still wouldn't be involved in the markets if it weren't for their patience and assistance. Judging by the way all 3 of them trade, and how consistently successful they are, they don't...
Thanks 4xNewGuy
  • #13,077
  • Nov 26, 2015 8:01am Nov 26, 2015 8:01am
Quoting IveGotQuads
The best advice you can get is to treat this as a business.... no trading when you are tired/sleepy or distracted.
Exactly, nothing to add
  • #13,078
  • Nov 26, 2015 8:05am Nov 26, 2015 8:05am
Quoting FX-Ray
{quote} 185.88/75 printed and rejected, currently watching 185.38/25; if support then next 185.88/75; if resistance then next 184.75/68 {image}
184.88/63 got rejected again and also 185.88/63; if today (daily) wont close lower and we still see some strength, next week could be very interesting regarding continuation to the upside.

Liquidity above 185.88/75, if takeout and short covering, long TP 186.88/63
Attached Image (click to enlarge)
Click to Enlarge Name: current14.png Size: 47 KB
  • #13,079
  • Nov 26, 2015 8:11am Nov 26, 2015 8:11am
Quoting gabe32
{quote} Bar chart's eh? Never did get into those.But yes, my sentiments fall with yours. Though as I stated I'll see what the 4hr prints up. I found with my strategy. That jumping the gun and not waiting on my 4hr. I get burned sometimes. I'd rather lose a little profit then miss out on bigger profit.That's just me though. We all have our unique ways. That's what makes trading awesome.
Personally, BarCharts are less distractive than candlesticks, I just need the H/L/C, dont know which advantage candles would give me since they provide the same info
  • #13,080
  • Nov 26, 2015 8:15am Nov 26, 2015 8:15am
Quoting FX-Ray
{quote} Thanks 4xNewGuy
Thank you too man. I haven't been around the forums for a bit due to being back down to demo trading, as well as some family/financial issues to deal with. But it's good to see you back.
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