Dragon Riders GBP/JPY | Page 945 | 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

  • #18,881
  • Jun 24, 2016 10:02am Jun 24, 2016 10:02am
Quoting Geppy
{quote} I disagree. I started putting in very small lots when I saw clearly via Twitter that the "leave" vote was highly likely to win. I was watching it in real-time and was able to take advantage. That's the point. Sure, novice traders should sit on the sidelines with a bowl of popcorn and try to learn something. But if you're experienced and know what you're doing you can profit heavily. That's what I was showing with my stats, and that's the point.
I'm not sure you were watching all that closely coz at no point was it clear the way it would go. In fact one of the leaders of the 'out' campaign actually conceded within the last hour of the final result being declared.
  • #18,882
  • Jun 24, 2016 10:22am Jun 24, 2016 10:22am
Quoting GJscalper
{quote} Clearly, a person can justify their position for taking a trade a million and one ways. You clearly have a very valid reason to have done what you did, yet scalping is what I do, and tick plus 1m is the only thing I look at it. If you see that the spread is more than 3x what it normally is, and you enter into it, you are simply entering because of the THRILL of guessing it correctly. We clearly saw GBP/JPY within 60 seconds close red 600 pips, but trade round trip well over 6x within the same candle. If a person is a "noob" for realizing...
you might want to take 2 seconds to look at my history here on FF before making such an obtuse statement.
check out my blog: forexmademillionaire dot com
  • #18,883
  • Jun 24, 2016 10:26am Jun 24, 2016 10:26am
Quoting lancedes
{quote} I'm not sure you were watching all that closely coz at no point was it clear the way it would go. In fact one of the leaders of the 'out' campaign actually conceded within the last hour of the final result being declared.
I didn't enter any trades until well after he conceded. ForexLive had amazing coverage, and if you were paying attention to them and other outlets it was clear that remain would take it well before it was declared. That's when I entered. Had I wanted to gamble I could have shorted from much higher. But I knew there'd be plenty of meat on the bone.

Criticize me all you want. Those that know me here know I'm not a gambler. I wouldn't put my account, or much at risk at all, if I didn't think the odds were heavily in my favor. That goes for any trade I take. Last night was no different.

Those that can't see what I did and the reasoning/timing behind it are either too inexperienced or envious to see clearly. That's all.
check out my blog: forexmademillionaire dot com
  • #18,884
  • Jun 24, 2016 10:30am Jun 24, 2016 10:30am
Quoting abhilash
Took long GJ @ 140.60. SL 138.50. TP 147.
Excellent risk to reward, but a very low proba trade.
@GJscalper I've turned a new leaf. No more trolling.
  • #18,885
  • Jun 24, 2016 10:34am Jun 24, 2016 10:34am
Looking at the 1-minute chart, key area right now is highlighted in blue (about 138.60-139.00). A break below the lower bound and I think it's logical we head down to test the lows:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-24 08.33.23.png Size: 224 KB
check out my blog: forexmademillionaire dot com
  • #18,886
  • Jun 24, 2016 11:09am Jun 24, 2016 11:09am
id never thought i see the day where I i regret taking only 1,000 pips. LOL

oh well, another day, another opportunity!
Believe your right, till proven wrong. Doubt is the greatest enemy.
  • #18,887
  • Jun 24, 2016 11:23am Jun 24, 2016 11:23am
In my opinion TA dosnt matter at all right now is like a water drope in ocean and that was proven last night.Some big fortunes was made and lost in last 24h
  • #18,888
  • Jun 24, 2016 11:30am Jun 24, 2016 11:30am
Quoting andy_wpo
In my opinion TA dosnt matter at all right now is like a water drope in ocean and that was proven last night.Some big fortunes was made and lost in last 24h
Comparing the usefulness of TA between last night and now is like comparing apples to sledge hammers. The big news is behind us, and TA will become increasingly relevant. In fact, we just bounced off the lower boundary of the area I highlighted in my previous post:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-24 09.28.17.png Size: 250 KB


I don't think it's going to hold on another attempt, but that's just my opinion.
check out my blog: forexmademillionaire dot com
  • #18,889
  • Jun 24, 2016 11:31am Jun 24, 2016 11:31am
Quoting andy_wpo
In my opinion TA dosnt matter at all right now is like a water drope in ocean and that was proven last night.Some big fortunes was made and lost in last 24h
You can say that again. Can you imagine a 600 pip 1 min drop followed by a retrace of 200 pips, then another red candle of 500 pips. Seriously if entering during those types of moves isn't a a toss up, I don't know what is. As I said before, many people rather post their results and try to show how amazing they are instead of posting charts and showing you actually took the trade prior. Then when you ask for a trade explorer you get a million and 1 reasons as to why not link their account.
@GJscalper I've turned a new leaf. No more trolling.
  • #18,890
  • Jun 24, 2016 11:58am Jun 24, 2016 11:58am
5-minute chart showing trend line resistance and looming 200-bar SMA. Could be a signal we're heading higher if it can push through:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-06-24 09.57.01.png Size: 211 KB
check out my blog: forexmademillionaire dot com
  • #18,891
  • Jun 24, 2016 11:58am Jun 24, 2016 11:58am
Quoting GJscalper
{quote} You can say that again. Can you imagine a 600 pip 1 min drop followed by a retrace of 200 pips, then another red candle of 500 pips. Seriously if entering during those types of moves isn't a a toss up, I don't know what is. As I said before, many people rather post their results and try to show how amazing they are instead of posting charts and showing you actually took the trade prior. Then when you ask for a trade explorer you get a million and 1 reasons as to why not link their account.

I dont know if you say that i try to show im "amazing" or that im right about TA.
  • #18,892
  • Jun 24, 2016 12:17pm Jun 24, 2016 12:17pm
This is Friday. Anything is possible. The Last hour could be volatile.
  • #18,893
  • Jun 24, 2016 12:19pm Jun 24, 2016 12:19pm
Quoting frx_trader
This is Friday. Anything is possible. The Last hour could be volatile.
Agreed, I think it's very possible we see either a recovery or a complete dump in US equities going into the close.
check out my blog: forexmademillionaire dot com
  • #18,894
  • Jun 24, 2016 12:30pm Jun 24, 2016 12:30pm
For those saying you couldn't make money trading GBP-based pairs last night without straight up gambling, take a look at this annotated chart by ForexLive:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-annotated-brexit-day-june-23-2016.png Size: 64 KB


Where it says "model forecaster calls it"... that's when I started shorting. It's when, mathematically speaking, it looked like the "leave" vote had it in the bag. And as you can see, there was plenty of downside remaining.

If you stayed plugged into what was happening in real-time, profiting wasn't hard. You just had to stay patient and not get caught up in the tug-of-war before hand.

Here's the write about that goes with the chart:

http://education.forexlive.com/!/whe...t-did-20160624
check out my blog: forexmademillionaire dot com
  • #18,895
  • Jun 24, 2016 1:05pm Jun 24, 2016 1:05pm
Quoting Geppy
For those saying you couldn't make money trading GBP-based pairs last night without straight up gambling, take a look at this annotated chart by ForexLive: {image} Where it says "model forecaster calls it"... that's when I started shorting. It's when, mathematically speaking, it looked like the "leave" vote had it in the bag. And as you can see, there was plenty of downside remaining. If you stayed plugged into what was happening in real-time, profiting wasn't hard. You just had to stay patient and not get caught up in the tug-of-war before hand....
​You could have made a killing. Yesterday I almost started selling at 160 because I knew it would be a close call and the Monday gap was bothering me, but I didn't know how irrational the market would be on the way up; already got caught last week on the way down, so I said fuck it and went to sleep at 6 in the morning local time. wake up 4 hours later in poundcalypse. I am happy for you. I placed a buy on market on the very bottom of 2 lots only to chicken out and see the market take off by 200 pips in less than a minute. Congratulations dude, be careful though how big you grow your ego. That's all. Happy and profitable trading.
  • #18,896
  • Jun 24, 2016 1:11pm Jun 24, 2016 1:11pm
Quoting yawen
{quote} ​You could have made a killing. Yesterday I almost started selling at 160 because I knew it would be a close call and the Monday gap was bothering me, but I didn't know how irrational the market would be on the way up; already got caught last week on the way down, so I said fuck it and went to sleep at 6 in the morning local time. wake up 4 hours later in poundcalypse. I am happy for you. I placed a buy on market on the very bottom of 2 lots only to chicken out and see the market take off by 200 pips in less than a minute. Congratulations...
Thanks, man. And yeah... I've been doing this long enough where I know ego can be a killer. These last few posts haven't been about that. It's more about trying to help people realize that if you're experienced enough you can take advantage of events like this.

Too many people think FX is some kind of scam, rigged, etc. but really they're just looking for someone else to blame for their inability to be profitable (completely different topic I suppose).
check out my blog: forexmademillionaire dot com
  • #18,897
  • Jun 24, 2016 1:18pm Jun 24, 2016 1:18pm
Quoting Geppy
{quote} Thanks, man. And yeah... I've been doing this long enough where I know ego can be a killer. These last few posts haven't been about that. It's more about trying to help people realize that if you're experienced enough you can take advantage of events like this. Too many people think FX is some kind of scam, rigged, etc. but really they're just looking for someone else to blame for their inability to be profitable (completely different topic I suppose).

News access might be rigged, but I've experienced full execution prices at market prices and stop loss at market prices, with spreads into the 30s, it's no wonder. There is a way to make big money in Forex and yesterday-today I've seen the light clearly, not just a an illusion, after so many years. it depends entirely on you and your appetite for greed. Again, congratulations. I am happy to be able to talk to someone about something I can relate.

btw, here is the change in all majors through the whole ordeal. Liquidity was razor thin, hence the high spreads.
Attached Image (click to enlarge)
Click to Enlarge Name: Clu_i08WkAAv3Lh.jpg Size: 230 KB
  • #18,898
  • Jun 24, 2016 1:50pm Jun 24, 2016 1:50pm
Quoting yawen
{quote} News access might be rigged, but I've experienced full execution prices at market prices and stop loss at market prices, with spreads into the 30s, it's no wonder. There is a way to make big money in Forex and yesterday-today I've seen the light clearly, not just a an illusion, after so many years. it depends entirely on you and your appetite for greed. Again, congratulations. I am happy to be able to talk to someone about something I can relate. btw, here is the change in all majors through the whole ordeal. Liquidity was razor thin, hence...
Yeah, I hear ya. Cool chart!

Also, all... S&P 500 is testing the lows. They've held for now...
check out my blog: forexmademillionaire dot com
  • #18,899
  • Jun 24, 2016 2:10pm Jun 24, 2016 2:10pm
Quoting Geppy
For those saying you couldn't make money trading GBP-based pairs last night without straight up gambling, take a look at this annotated chart by ForexLive: {image} Where it says "model forecaster calls it"... that's when I started shorting. It's when, mathematically speaking, it looked like the "leave" vote had it in the bag. And as you can see, there was plenty of downside remaining. If you stayed plugged into what was happening in real-time, profiting wasn't hard. You just had to stay patient and not get caught up in the tug-of-war before hand....
Great chart and nicely traded. Not so scary to trade afterall. Just gotta look out for the correct signals. 5min or 1min, I find. I decided sleeping was the much easier option but having had a chance now to analyse PA post the event, its not that scary. Need to concentrate intensely and watch the candles carefully. i'm learning all the time, so thanks for this.
  • #18,900
  • Jun 24, 2016 2:29pm Jun 24, 2016 2:29pm
This outcome is very unexpected. I already gave up and thought this was just a game. Before I went to sleep, I closed half of shorts. Then slept for 4 hours. When i woke up. I saw my shorts went to green. Without thinking, closed all of them. I recover my losses plus some profit. Should have left them open and make a fortune.

Well, this is the first time I see GU moves by more than 1000 pips. Nice experience though. Stayed out of the market. Because I didn't know anymore. And the spread was widen 3-4 times than usual.
7 traders viewing now