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Dragon Riders GBP/JPY

  • #24,141
  • May 30, 2017 6:52pm May 30, 2017 6:52pm
Quoting cat
{quote} Not sure why the spread would scare anyone, I have it at 2.5 with my broker, and some offer it at less than 1 pip. Considering that its range is three times that of EU, how can an extra pip or two on the spread possibly be a factor on whether to trade it or not. I have often asked myself why more people don't trade this pair, and I can only put it down to its reputation as being a fast moving pair, but what do traders want, the opportunity to make 40 pips per day, or 140!! And you're right Quickiepip, it is certainly no more difficult to...
I have 1.1 spread. If you have higher you probably are trading with a market maker who is trading against you by holding the other side. In my opinion, nobody should trade with these brokers. Switch to an ECN/DMA broker where you pay a small commission and have razor thin spreads.
  • #24,142
  • May 30, 2017 6:55pm May 30, 2017 6:55pm
Quoting cat
{quote} You speak for trading in general, not just for GJ. If you know how to trade, GJ is a great pair. If you don't, it'll kill you just like any other pair.
Exactly. If you know how to trade, you should trade GBPJPY, GBPAUD, EURAUD, EURCAD, GBPCAD. All have tremendous ranges. Fuck those USD pairs, they aren't worth a shit.
  • #24,143
  • May 30, 2017 7:19pm May 30, 2017 7:19pm
Quoting pipmaster77
{quote} Exactly. If you know how to trade, you should trade GBPJPY, GBPAUD, EURAUD, EURCAD, GBPCAD. All have tremendous ranges. Fuck those USD pairs, they aren't worth a shit.
In the Asian session mot that much happening anyway , least get few pips for my time frame before switching other areas
  • #24,144
  • May 30, 2017 7:55pm May 30, 2017 7:55pm
Some may of bought 142 congratulations . 142 invalid . Next visit 142.5 for inspection to ensure dragon has plenty to eat
  • #24,145
  • May 30, 2017 7:59pm May 30, 2017 7:59pm
I have a risky long position looking to retest 143.7 resistant area SL 141.6. Monitoring from time to time. GL and cheers
Listen to the market
  • #24,146
  • May 30, 2017 8:42pm May 30, 2017 8:42pm
Short 142.30 , didn't make it to inspection point . Lot 1 no multiplies
  • #24,147
  • May 30, 2017 8:55pm May 30, 2017 8:55pm
wait to short at 143.42 tp 140.68
  • #24,148
  • May 30, 2017 11:14pm May 30, 2017 11:14pm
Quoting Pip-Miner
{quote} Out short , looking short again 142, 142.5 143 if opportunity arises
142.5 passed short position triggered aiming take out 142
  • #24,149
  • May 31, 2017 12:22am May 31, 2017 12:22am
dragon is happy lots pips fill tummy. Lol I'm out resting
  • #24,150
  • May 31, 2017 1:09am May 31, 2017 1:09am
Quoting pipmaster77
{quote} I have 1.1 spread. If you have higher you probably are trading with a market maker who is trading against you by holding the other side. In my opinion, nobody should trade with these brokers. Switch to an ECN/DMA broker where you pay a small commission and have razor thin spreads.
IG..biggest broker in the world, and the most reliable. 2.5 is fine with me.
  • #24,151
  • May 31, 2017 1:17am May 31, 2017 1:17am
Quoting Pip-Miner
{quote} Your missing the point , this one is probably the most dangerous. I say this even knowing how to trade it. wasn't called dragon for no reason.
I'm missing no point. It's a fallacy, and I would recommend it to anyone to trade, even beginners on demo, as it offers many more moves and hence far better practice than EU etc. Take just now, a 37 pip move right off the Frankfurt open. Compare that with thew same move on EU, and you'd have got 10 pips, and was GJ any more difficult to get onto? No, it wasn't. Yes there will be occasions when you get caught out by adverse movements, but that applies to any pair. If you want pips, and lots of them, with proper trading management, this pair cannot be beaten.

How many traders viewing EU right now- 121. This pair - 25.

Say no more.
  • #24,152
  • May 31, 2017 4:02am May 31, 2017 4:02am
Quoting xingloon
I have a risky long position looking to retest 143.7 resistant area SL 141.6. Monitoring from time to time. GL and cheers
Stop out. Step aside for a while
Listen to the market
  • #24,153
  • May 31, 2017 4:08am May 31, 2017 4:08am
Quoting xingloon
{quote} Stop out. Step aside for a while
Yes , she can be nasty like the example provided. At least you had stop loss
  • #24,154
  • May 31, 2017 4:08am May 31, 2017 4:08am
Overall , imo gbpjpy has more upside than downside. At current 141.70 has a relatively stronger support but would be better to trade only on next week to further confirm and letting it to spike down to take out the early longs.
We don't trade against the market ,we trade against discipline.
  • #24,155
  • May 31, 2017 4:26am May 31, 2017 4:26am
Quoting Pip-Miner
{quote} Yes , she can be nasty like the example provided. At least you had stop loss
Trading the dragon without SL could easily wipe your acc
Listen to the market
  • #24,156
  • May 31, 2017 5:35am May 31, 2017 5:35am
Quoting cat
{quote} IG..biggest broker in the world, and the most reliable. 2.5 is fine with me.
looks like a great broker. Wish my government would allow me to trade with them. They have a DMA account, why aren't you using it? Overall costs are WAY LOWER, plus your order is directly in market.
  • #24,157
  • May 31, 2017 5:39am May 31, 2017 5:39am
Quoting pipmaster77
{quote} looks like a great broker. Wish my government would allow me to trade with them. They have a DMA account, why aren't you using it? Overall costs are WAY LOWER, plus your order is directly in market.
I do have a DMA account.

I have a friend in the US who uses Trader's Way...low spreads and is very happy with it. Not sure where they are based though.
  • #24,158
  • May 31, 2017 5:45am May 31, 2017 5:45am
Anyone wondering what came in as support there at 149, I have the daily S1 pivot there, plus the Daily 200ema seems to have been a strong enough looking level of support for shorts to cash out and take it back up, for now.
  • #24,159
  • May 31, 2017 8:09am May 31, 2017 8:09am
Quoting cat
{quote} I do have a DMA account. I have a friend in the US who uses Trader's Way...low spreads and is very happy with it. Not sure where they are based though.
I use Trader's Way as well, been there 3 years +. Excellent broker. If you have a DMA account, I show GBPJPY spread with your broker under 1 pip.
  • #24,160
  • May 31, 2017 8:31am May 31, 2017 8:31am
Quoting pipmaster77
{quote} I use Trader's Way as well, been there 3 years +. Excellent broker. If you have a DMA account, I show GBPJPY spread with your broker under 1 pip.
Because trading from my DMA account is not spread betting, which is tax exempt here in the UK. It is for this reason that I trade mostly from an ordinary spread betting account. The trade off is the slightly larger spread size, which to me is neither here nor there
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