Isn't that precisely what I posted earlier? First you said the price won't move and now you are saying it will move (which is true of course), so I guess we are back to square one.

Dragon Riders GBP/JPY

True, but the real competition is within ourselves. More specifically, if the trader cannot master his own emotions (fear and greed) and stay disciplined 100% of the time he will never make it in this business. Trading is about 90% psychology, and ...

Dragon Riders GBP/JPY

A fool spends his time competing against other people, a wise man only competes with himself.

Dragon Riders GBP/JPY

Your example is inappropriate because if there is nothing to sell then there is no need for buyers or sellers in the first place, period. Again, no. There is ALWAYS a demand for currencies, GBP/JPY or whatever. If the buying pressure exceeds the ...

Dragon Riders GBP/JPY

I see. And you believe your broker triggered your sell stop order to take your money?

Dragon Riders GBP/JPY

Not sure I understand your post. You wanted to short GBP/JPY at 145.266?

Dragon Riders GBP/JPY

That's precisely what I just said. The price of anything (GBP/JPY, soybean, gold, S&P 500, etc...) is always trying to find the equilibrium level.

Dragon Riders GBP/JPY

If there are no sellers then the more eager buyers will bid the price up until everyone who wants to buy can buy. That's economics 101, you should know that... Cordially.

Dragon Riders GBP/JPY

Closing half my position at 145.30 (+25 pips) and moving the stop to breakeven. In other words free ride from that point on. Off to bed now, bye all.

Dragon Riders GBP/JPY

You are welcome. Now the drinks are on you. I will tell you after you order that second bottle of Dom Perignon Keep going down Dragon, off you go chop chop! (Stay alert folks, a bear trap is still possible...)

Dragon Riders GBP/JPY

Technical analysis (TA) does not necessarily mean trendlines, head and shoulders and stuff like that. TA for me is ANY specific set of backtested trading rules that give the trader a mathematical edge in the long run, without generating excessive ...

Dragon Riders GBP/JPY

What's to laugh about? I make a bet about the direction of the market and at some point I will lose or win that bet, end of story, there is nothing funny (or sad) here, it's just business.

Dragon Riders GBP/JPY

Short 145.55, 25 pip stop.

Dragon Riders GBP/JPY

GBP/JPY is dropping, but it's still too early to tell if it's a bear trap or the real deal ...

Dragon Riders GBP/JPY

You are correct. But you still need a stop and a target (or a trailing stop) for each trade.

Dragon Riders GBP/JPY

I am certain you have plenty of experience in that field, but I am pretty sure that banks, corporations, hedge funds and other financial institutions use technical analysis for their day to day trading activities.

Dragon Riders GBP/JPY

This type of comment is totally meaningless unless you specify the stop and the target, or at least the logic behind your trading decision (even vaguely).

Dragon Riders GBP/JPY

I plan to go short at 1.7780, 35 pip stop. First target is 1.7730 (50 pips). (Trade at your own risk folks).

Dragon Riders GBP/JPY

Yep, predicting the past is easy.

Dragon Riders GBP/JPY

GBP/JPY dropped 10 000 pips since July 2007, so the real question is : did you catch that move? If not, why not? Please don't tell me your internet connection was down.

Dragon Riders GBP/JPY