Technical Analysis Fallacy
- #59,522
- Edited 8:51am Aug 25, 2019 8:37am | Edited 8:51am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
- #59,526
- Edited 11:04am Aug 25, 2019 9:53am | Edited 11:04am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
- #59,527
- Edited 12:13pm Aug 25, 2019 11:55am | Edited 12:13pm
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
Hi FTI
Hope you are ok my friend (well as can be
), good to see you posting as always imparting your wisdom for us to better ourselves, just got back from being away sorting some stuff for the last 5 weeks or so, back home for 4 weeks then off again for a while, not sure how long (as long as it takes). not trading too much while i have to sort this other stuff out, trading and other issues/stress do not mix well i found, should be full on trading again next may/june hopefully and will be active on FF again, just very stop/start for now in my own place.
Regards
Phil.
@all, please read the first post and understand it, the only rules in trading are.. 1.protect book 2. Protect book 3. Do not forget rules 1+2., how do you do this? By any means that your skill and the market provide for you, how can you recognise how to do this?, read the thread and practice what you see/find here, do not over complicate or rush things and be humble enough to accept you will be wrong sometimes, no two days are the same in trading but there are some similarities that you will learn to recognise along your journey …. Use your scouts wisely and listen to them, always remember scouts have a specific job so they must always be expendable if you are in a mistimed entry (they will be your best allies and spies) , this trading thingy is out and out warfare and in war you must use a ‘by any means’ approach to survive…. learn to survive then learn to thrive.... AOW internalise it!
Go make your own luck by practicing and learning from it (rely on yourself) and be humble enough to give thanks for it.
A film I have just watched, may be of help in your learning curve.
https://www.imdb.com/title/tt6866224/
Regards
Phil.
edit... be careful about what and why you do things....!!!
An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, “only a little while.”
The American then asked why didn’t he stay out longer and catch more fish?
The Mexican said he had enough to support his family’s immediate needs.
The American then asked, “but what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life.”
The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”
The Mexican fisherman asked, “But, how long will this all take?”
To which the American replied, “15 – 20 years.”
“But what then?” Asked the Mexican.
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”
“Millions—then what?”
The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”
Hope you are ok my friend (well as can be
), good to see you posting as always imparting your wisdom for us to better ourselves, just got back from being away sorting some stuff for the last 5 weeks or so, back home for 4 weeks then off again for a while, not sure how long (as long as it takes). not trading too much while i have to sort this other stuff out, trading and other issues/stress do not mix well i found, should be full on trading again next may/june hopefully and will be active on FF again, just very stop/start for now in my own place.Regards
Phil.
@all, please read the first post and understand it, the only rules in trading are.. 1.protect book 2. Protect book 3. Do not forget rules 1+2., how do you do this? By any means that your skill and the market provide for you, how can you recognise how to do this?, read the thread and practice what you see/find here, do not over complicate or rush things and be humble enough to accept you will be wrong sometimes, no two days are the same in trading but there are some similarities that you will learn to recognise along your journey …. Use your scouts wisely and listen to them, always remember scouts have a specific job so they must always be expendable if you are in a mistimed entry (they will be your best allies and spies) , this trading thingy is out and out warfare and in war you must use a ‘by any means’ approach to survive…. learn to survive then learn to thrive.... AOW internalise it!
Go make your own luck by practicing and learning from it (rely on yourself) and be humble enough to give thanks for it.
A film I have just watched, may be of help in your learning curve.
https://www.imdb.com/title/tt6866224/
Regards
Phil.
edit... be careful about what and why you do things....!!!
An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, “only a little while.”
The American then asked why didn’t he stay out longer and catch more fish?
The Mexican said he had enough to support his family’s immediate needs.
The American then asked, “but what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life.”
The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”
The Mexican fisherman asked, “But, how long will this all take?”
To which the American replied, “15 – 20 years.”
“But what then?” Asked the Mexican.
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”
“Millions—then what?”
The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”
-be careful about what you allow to be put in your mind-
- #59,529
- Aug 25, 2019 12:42pm Aug 25, 2019 12:42pm
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
-be careful about what you allow to be put in your mind-
- #59,530
- Aug 25, 2019 12:58pm Aug 25, 2019 12:58pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Hi FTI Hope you are ok my friend (well as can be
So nice hear from you.
All your timetable is noted.
Be well and do whats necessary.
Will be great have you back on trade station help some peeps.
My energies not so great.
I feel easily lose cool when oxygen levels not so full.
See ya soon.
Meanwhile lets see what you posted.
Maybe i can learn something.
Keep well my friend.
God speed.
Regards
- #59,532
- Aug 25, 2019 2:00pm Aug 25, 2019 2:00pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Happy weekend fti and everyone! Been warm here in the Sonoran desert this weekend, but not too hot. Looking forward to the coming week. I guess it's good to live in interesting times! Fti thanks for your thoughts on HK. I've been watching that one closely. That, and reading about what may be the next big thing: US divestiture from China. Trading extra carefully this week, if there is such a concept. LOL...good trading and fti, hope you are well!
How the after shocks.
I am glad all is
When you went quiet i was a little worried. So i
.Any word from vic?
Ya hk is getting worrysome. Esp when underground societies dares comes out bash innnocent in broaddaylight. Is hard tell good peeps from criminals already. All have 2 eyes a nose amouth and 2 ears. Wondering who the sponsors.
I am as well as csn be in my circumstancrs.
I am watching trump charge the trade system to barter trade soon.
At least won't be any more deficit to deal with. But i waiting for the taxation backlash. To tax 25% for goods and services is insanity.
Trade well my friend.
Come by when have time. My friend.
Regards
- #59,534
- Aug 25, 2019 3:34pm Aug 25, 2019 3:34pm
- Joined May 2009 | Status: Trader | 3,730 Posts
{quote} Hey ch How the after shocks. I am glad all is
And Trump is going to see improved trade terms with China or he's going to stop all trade with them. Many in the US hate the tariffs, but also seem to agree that something has to be done. Even US farmers continue to support Trump. And he's now talking about 30%, which means zero trade.
And it seems all the world's central bankers are playing a different game.
Interesting times. I think the devil is smiling. Much for him to play in.
You my friend must take good care of yourself. Talk again later.
- #59,536
- Edited 10:22pm Aug 25, 2019 9:42pm | Edited 10:22pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Dear FTI, i dun usually ask questions cos i am not good with words, and when i do say something, i tend to trip over myself. let me try to ask one now. Is there such a thing as trading a currency that matches my (a person's) temperament ? i find that when i try to trade the USD, i do well for a while and then i crash and burn, but when i trade the JPY, i am more consistent and can see and feel the way the currency and the associated instruments move. so , can i look at it from a personality perspective and infer that my character upmake is more...
Yes you ask very wierd questions.BUT is ok. You ask politely, so i just look at you and ponder what you actually trying to ask.
Yes forex pairs have characters. This due to liquidity, number of active market makers and how many of the pain in the no sunshine place type market makers there are. So depending on the depth of the liquidity, all pairs will develkp characters that you may recognise. So you are not wtong to think there may be a soulmate pair out there for you.
With that out of the way, may i ask about that which i not understand about you. Seems weird or there some miss understanding somewhere. I know of a major forex pair buying selling usd/yen.
What i do not understand is when you trade usd what you trading it against?
And when you trade yen what you trading it against?
As far as trading forex is concerned.
You are either long usd short the yen.
Or short the usd long the yen.
So what i am trying to figure out is how you can find 2 character of markets in a single market pair.
Eeeer 1 market 2 systems.
Or usd with amerivan characteristics
Yen with japanese characteristics.
These days have lots usd with chinese charactics.
Is new trend, i not remember which clown invented.
Regards
Only logic i can think of is that you trading crosses.
Which makes you have no wife and lots matresses, at least 4.
- #59,537
- Aug 25, 2019 9:49pm Aug 25, 2019 9:49pm
{quote}
I think i will focus on my soulmate... hahaa only one wife.. and will not look at mistresses !
- #59,539
- Edited 10:31pm Aug 25, 2019 10:12pm | Edited 10:31pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
