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Dragon Riders GBP/JPY

  • #24,541
  • Jun 20, 2017 2:12pm Jun 20, 2017 2:12pm
Quoting ForeoneX
{quote} Having said this, within one day, I was removed from the that same pivot thread. Because, of closing my short on GJ. I did close it because of own analysis as there was bullish momentum. But the thread owner, assumed I closed the short because some of his thread members insisted to do so. Such a crap mentality. I thank others for sharing their real opinions on market like Mr.Breakout, hilmy, connors, angelina and so many others out there.

Thanks for the heads up, i just take for granted all of the advice i get and this certainly is helping However, i don't trade on the given advice, i just try to learn from the good and the bad..

Keep on learning, develop my own trading plan and eventually get the edge i need to become a profitable trader
  • #24,542
  • Jun 20, 2017 2:14pm Jun 20, 2017 2:14pm
Quoting Mr Breakout
{quote} Interesting. So you believe some traders (or even brokers) know exactly where the market is headed so they start posting lies to intentionally deceive unsuspecting FF traders and pocket their hard-earned money? You my friend have probably been watching too many James Bond movies LOL {quote} See you at the bank then.

Not to attack any-one on this forum but i find it kind of strange that at first he is super skeptical about this forum, but then decides to follow your lead without providing any insight on why he thinks-a-like.

Just my 2 cents! No harm meant!
  • #24,543
  • Jun 20, 2017 2:14pm Jun 20, 2017 2:14pm
Quoting Mr Breakout
{quote} Interesting. So you believe some traders (or even brokers) know exactly where the market is headed so they start posting lies to intentionally deceive unsuspecting FF traders and pocket their hard-earned money? You my friend have probably been watching too many James Bond movies LOL {quote} See you at the bank then.
Yes people who don't know post crap right here... never said broker or bank.... but you never know. I take the time to check a profile...and some people all they do is lose and give bad info..... It's 50 50 not hard to be right and very easy to be wrong....lol

You give out a lot of good info... and you don't let us forget by quoting yourself.....lolololol I'm sure when you are wrong you forget to quote those too huh....lol
I'll pick up the crumbs don't need the whole pie
  • #24,544
  • Jun 20, 2017 2:21pm Jun 20, 2017 2:21pm
Quoting thejerre
{quote} Thanks for the heads up, i just take for granted all of the advice i get and this certainly is helping However, i don't trade on the given advice, i just try to learn from the good and the bad.. Keep on learning, develop my own trading plan and eventually get the edge i need to become a profitable trader
Yes. Learn and learn. Am doing the same too.
Hopefully, we will find our own edge.

But it requires lot of patience, thats the only thing I know.

Keep digging the hole then you will find jewel hidden.
  • #24,545
  • Jun 20, 2017 2:22pm Jun 20, 2017 2:22pm
Quoting thejerre
{quote} Not to attack any-one on this forum but i find it kind of strange that at first he is super skeptical about this forum, but then decides to follow your lead without providing any insight on why he thinks-a-like. Just my 2 cents! No harm meant!
I'm short at 140.70.... I add to my positions so at 141.20 which is 50 pips up I would add another short to my position and close both once I reach profit.... it happens that we both will be going the same way if it goes up to 141.20...lol Good answer?

Quoting Quickiepip
{quote} We are heading into overbought... if you are long... go long with a plan... I'm long at 142.233 I'll take another at 141.70 and 141.20 then I will short to cover losses if it goes bad at 139.70... that's if it goes short otherwise I'll keep scalping every 4 pips ts 5 until the next level up
there is my insight...

Quoting Mr Breakout
{quote} So basically you want to keep adding to an already losing position? Personally I do the opposite, If I buy at 1.2000 for example, I will add to my position only if the price is above that level. If it goes below then my stop will be hit and that's it, I don't consider that new low price as a "bargain" or an "opportunity" to buy again. In fact I may even go short at that point. Adding WITH the trend (let's say every time we gain an additional 50 pips, short or long) is still THE best way to make a bundle with a modest starting capital.
This was his response... adding to losing position...
I'll pick up the crumbs don't need the whole pie
  • #24,546
  • Jun 20, 2017 2:33pm Jun 20, 2017 2:33pm
Quoting Quickiepip
.....lolololol I'm sure when you are wrong you forget to quote those too huh....lol
When I am wrong I lose a few pips (35 to 50 pips max), sometimes I even close and reverse the position and then I move on, simple as that.

Yesterday for example, all the BUY BUY BUY lights were green, so I bought (in fact I bought the day before), with a stop 1 pip below that 5-min rectangle I showed you earlier.

When the breakout to the upside failed to materialize plan B went into effect and I shorted GBP/JPY.

Never marry any freaking position, no matter how good and convincing the trading setup is, always have a plan B in place.
In fact we should always assume that our stop WILL be hit every time we initiate a new position, period!

That's the lesson we should all learn from that sudden GBP/JPY down move.
  • #24,547
  • Jun 20, 2017 2:42pm Jun 20, 2017 2:42pm
This is how I add to my losing positions... there is always a little pull back or hiccup. it works and to tell the truth I was kind of pissed off when Mr. Breakout just dismissed they fact... he adds to winners he says... but when I check his profile I can see nothing...smh
Attached Image (click to enlarge)
Click to Enlarge Name: fxp.png Size: 175 KB
I'll pick up the crumbs don't need the whole pie
  • #24,548
  • Jun 20, 2017 2:46pm Jun 20, 2017 2:46pm
Quoting Quickiepip
I was kind of pissed off when Mr. Breakout just dismissed these facts...
I never said that adding to losers is bad, I said that adding to winners is better.

Big difference.

I mean think about it for a second: how many pullbacks can you profit from when the market is moving against you?
One or two maybe?

Now how many pullbacks can you profit from when the market is moving in your direction?
A lot, the sky is the limit!
  • #24,549
  • Jun 20, 2017 2:55pm Jun 20, 2017 2:55pm
Quoting Mr Breakout
{quote} When I am wrong I lose a few pips (35 to 50 pips max), sometimes I even close and reverse the position and then I move on, simple as that. Yesterday for example, all the BUY BUY BUY lights were green, so I bought (in fact I bought the day before), with a stop 1 pip below that 5-min rectangle I showed you earlier. When the breakout to the upside failed to materialize plan B went into effect and I shorted GBP/JPY. Never marry any freaking position, no matter how good and convincing the trading setup is, always have a plan B in place. In fact...
A lot of people us the 200EMA as a trend setter....The trend was still short with a bias of staying short based on the 3 days in a row it was rejected
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-d1-international-capital-markets.png Size: 29 KB
I'll pick up the crumbs don't need the whole pie
  • #24,550
  • Jun 20, 2017 3:02pm Jun 20, 2017 3:02pm
Quoting Mr Breakout
{quote} I never said that adding to losers is bad, I said that adding to winners is better. Big difference. I mean think about it for a second: how many pullbacks can you profit from when the market is moving against you? One or two maybe?
actually alot... I would give those 3 trades a lot of room 150pip from the last one I would take a short tp 100 pips and wait until I mitigated the loss... The dragon only does 150 pip back and forth with in a range 2 maybe 3 times, 4 maybe but it's unusual. I use that to my benefit, hands down one of the best and easiest currencies to trade. Indicators predict well and really it just does what it's suppose to do
I'll pick up the crumbs don't need the whole pie
  • #24,551
  • Jun 20, 2017 3:15pm Jun 20, 2017 3:15pm
Will GBPJPY move completely back into the range it is in, if so, we could expect a serious down movement in the days to follow Just my rookie 2 cents!

See my trade below SL just above the low of monday to allow my trade to live a little longer (0.02 position...:$)
Attached Image (click to enlarge)
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  • #24,552
  • Jun 20, 2017 3:31pm Jun 20, 2017 3:31pm
Quoting thejerre
Will GBPJPY move completely back into the range it is in, if so, we could expect a serious down movement in the days to follow Just my rookie 2 cents! See my trade below SL just above the low of monday to allow my trade to live a little longer (0.02 position...:$) {image}
I agree with that...lol but I ain't Mr. Breakout..lmao
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-d1-international-capital-markets-2.png Size: 38 KB
I'll pick up the crumbs don't need the whole pie
  • #24,553
  • Jun 20, 2017 3:57pm Jun 20, 2017 3:57pm
Quoting Quickiepip
{quote} I agree with that...lol but I ain't Mr. Breakout..lmao {image}

Thanks for the reply and love the chart you added, plain and simple to view!

Just one little thing, could we please stop the 'bullying'. It kind of ruins the thread! Please respect eachother and fight eachother on the outlook he or she has, but don't make it personal I hate fighting, i'd rather learn!
  • #24,554
  • Jun 20, 2017 4:06pm Jun 20, 2017 4:06pm
Quoting thejerre
{quote} Thanks for the reply and love the chart you added, plain and simple to view! Just one little thing, could we please stop the 'bullying'. It kind of ruins the thread! Please respect eachother and fight eachother on the outlook he or she has, but don't make it personal I hate fighting, i'd rather learn!
How am I suppose to react to that..lol? you've nicely insulted me twice today... Oh I guess I should say thank you.. please excuse my bullying...lol some of you's here take this serious
I'll pick up the crumbs don't need the whole pie
  • #24,555
  • Jun 20, 2017 4:14pm Jun 20, 2017 4:14pm
Quoting Quickiepip
actually alot...
On your pic above, you risked 1 unit (0.14 lot), then you lost and risked more than 3 units (0.46) then you lost and risked more than 10 units (1.52) and this time you won.

So if I understand you correctly you risked a total of 14 units to earn 6 units.
  • #24,556
  • Jun 20, 2017 4:16pm Jun 20, 2017 4:16pm
Quoting Mr Breakout
Waiting for the pullback to 142.35 to buy some more.
Lol almost chikned out of the most profitable trade i had all month so far. Ego and being right aside, i am seriously considering trading opposite of tradrs sentiment and opposite of ta. This is not first time the dragon showed one thing in ta and did exact opposite. It did buybuybuy when it broke the channel to upside.
Qqq Return Today: 0.7%
  • #24,557
  • Jun 20, 2017 4:19pm Jun 20, 2017 4:19pm
Quoting cabbiefx
It did buybuybuy when it broke the channel to upside.
Believe or not but when I saw that big 3 AM 30-min green candle, I had the weird feeling that this was probably the high of the day.
In other words a bull trap.
  • #24,558
  • Jun 20, 2017 4:24pm Jun 20, 2017 4:24pm
Quoting cabbiefx
{quote} Lol almost chikned out of the most profitable trade i had all month so far. Ego and being right aside, i am seriously considering trading opposite of tradrs sentiment and opposite of ta. This is not first time the dragon showed one thing in ta and did exact opposite. It did buybuybuy when it broke the channel to upside.
Unless a trader is looking for a few pips and a quick gain for that matter, the bigger picture (from HTFs) favours the downside. Any pullback should be seen as largely a corrective move. The big gain in pips is more likely to come from looking for a sell opportunity.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #24,559
  • Jun 20, 2017 4:35pm Jun 20, 2017 4:35pm
Quoting Mr Breakout
{quote} On your pic above, you risked 1 unit (0.14 lot), then you lost and risked more than 3 units (0.46) then you lost and risked more than 10 units (1.52) and this time you won. So if I understand you correctly you risked a total of 14 units to earn 6 units.
forex of 2017 is a lot different from forex of 2006 the pa rarely runs straight down without a recoil. i never closed them one at a time these trades were taken as a part of a unit. they were closed together once in profit. From a new high or low price action will always pull back at 50 or 100 pips. if you studied the currency you would know this. im sorry mr breakout i dont want to be a bully. I will stop posting now since there is only one way to trade and you've written the book on it....lol
I'll pick up the crumbs don't need the whole pie
  • #24,560
  • Jun 20, 2017 4:36pm Jun 20, 2017 4:36pm
Quoting KeenPips
. The big gain in pips is more likely to come from looking for a sell opportunity.
So I assume you are short then?
Or simply flat and waiting for the right time to short.
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