"Technical Analysis Fallacy" thread people, I need your help
I was recently reading through a thread and this post grabbed my interest: http://www.forexfactory.com/showthre...13#post6282513
It talks about a money management system explained in the "Technical Analysis Fallacy" thread. I'm interested in learning more.
Now you can call me lazy if you want but I don't feel like reading through a few hundred/thousand posts to find out more. Does anyone know more about this money management system? If you know of some good posts or resources that explain it in full could you please provide me with some links.
ok thanks for the summary.
Might just have to bite the bullet and start reading the thread.
Do you personally use this MM? Have you found it helpful?
not sure what happened ukmanthailan, but your posts have disappeared.
nomadic, The truth is that there is no short cut, no magic formula that is going to make you a successful trader over night.
The TAF thread has a huge amount of invaluable material that if you decide to dedicate time and commit too can indeed teach you the necessary skills to survive in this market. But if you are not serious about trading and willing to put the effort and time to learn then it is a pointless endeavour.
There is no course available today that people can pay £1000s for that could offer even a fraction of the value Fti has given in that thread.
So the wonderful thing is that if you are serious about trading then all you must do is study that thread, practice trading while trying to apply what you learn and keep revisiting the material in the thread as you develop and improve and you will begin on a journey.
90% of the battle is done, you know where to found the valuable material, and not waste your time. You can start to make progress.
If you are looking to get rich quick in forex then you are approaching it as a gambler, same as a casino. So expect the same outcomes.
I hope you don't think I am being deliberately unhelpful, I just don't want to do the wrong thing. You can always post in the TAF thread if you have any questions and somebody will hopefully point you in the right direction.
No problem, understandable. Guess I've got some reading to do then
As an example: If I calculate based on my stop placement, that my position size is to be 4 mini lots. Then I will commit only two mini lots to begin with. If I'm wrong, I have lost only 1/2 of my position size. However if the trade starts to work in my favor (or I think it is working in my favor) I will add in the other 2 mini lots.
I then calculate the weighted average of these two positions (which my broker does anyway), and use that number as my "full" entry position. Some folks call this "scaling in".
I think what the TAF post is talking about is dividing my 4 mini lot position into fibonacci numbers and add them in as the position moves in my favor...example: enter with 1 mini, then add 1 mini, then add 2 minis, then add 3 minis, then add 5 mini...etc. It keeps going until your calculated position size is used up. For my above example of 4 mini lots, I would only go to 1+1+2 = 4.
That is how I read the post...but it is better to get the story straight from the author. Why don't you just ask him.
There is absolutely no evidence that what FTI is teaching there is profitable. Do yourself a favor and ask them straight forward questions about the method and see for yourself what kind of response you will get. None of them including Fti is willing to even put a demo trade explorer up so that people can judge if it is so special or not.
I got banned for telling him that he is fooling his followers. I do not understand why traders can be so naive as to belief al the crap which is being posted in that thread. I only saw one trade explorer there and it got wiped several times.
Fti is your typical so called guru and manages to attract hordes of followers. The thread is basically dead now. He pretends to be good, but has unfortunately failed to provide any evidence of success. He is only good in posting you tube videos. It the method was so profitable don't you think there would be more traders hanging out there? Simple isn't it.
You ONLY EVER listen or take advice from someone here if there is solid proof of success.
The factory has valuable info, but you have to be careful in selecting it. The biggest FX wanabes are hanging out here. Be aware. Cleverly worded posts and fancy charts means NOTHING without a profitable statement to accompany it.
Study your charts and find your edge..... Hard work pays off ...all the time!
I think it only takes any educated person a couple of minutes in that thread to realise Fti has valuable information to share from his experiences. We do not need to see his trade explorer to determine if he is profitable. Anyone can make there own judgement from the material he presents if it useful to them. I would strongly suggest that it is and any rational person would see the value.
There's no need to defend what's written on the thread though. Anybody with a modicum of common sense could tell that fti is genuine from reading through his early posts. My advice to you Nomadic, would be to read the first 20, 30 , 40 or 50 pages...whatever you want......and decide for yourself. If you don't want to, that's fine too. It won't affect my life.
I tried to understand FTIs methods but couldn't. the amount of discretion makes it near impossible to emulate.
we meet again.
why you don't mention my name?
yes, it's me. my demo account got wiped several times.
and why you didn't tell that i'm a beginner trader?
by the way, how is your demo account?
where is your promise to outperform me?
TAF offers you insights in the forex market through the mind of a ex market maker/dealer of a top tier bank. That itself is enough reason for me to be a fan...
Thanks everyone for your input.
I was up until 2am last night reading through the thread. And a lot more reading to be done.
I'm not actually a 'lazy' person as my first post implies, just didn't want to spend hours sifting through thousands of posts to find a MM technique. Time better spent elsewhere. But I now see the thread has many other positive points worth reading about too.
I appreciate everyones input, negative and positive. I'm keeping an open mind and healthy skepticism while I read.
I think it is you that can't accept that trading currencies is hard work. You are looking for a method that can be summed up in one short paragraph? You're a fool. As for your trade explorer - it's been running for what, 34 days? I'm not a follower of fti's. It's not a religion, it's a discussion about trading. You sound very angry about something. Is it the fact that you don't have the balls to put your money where your mouth is so you have to trade a demo account? Or is it that you simply don't have any money with which to trade? Either way, I'd give the pointless diatribes a miss and concentrate on sorting your own life out.
Nobody is going to post "proof" that what fti teaches is profitable. What for? What could I or anybody else possibly have to gain from doing that? I'm not looking for your approval and neither is anybody else on that thread.
If you have any legitimate questions why not ask them? All you have asked for as far as I can see is a one-paragraph summary of a five-year thread.
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