ur an angel!
omg thanks so much.
regards
jest
The Ultimate Fallacy in Technical Analysis 99 replies
"Technical Analysis Fallacy" thread people, I need your help 54 replies
Technical Analysis Fallacy Redux 23 replies
Statistical analysis fallacy 33 replies
DislikedHi auxesis
I've known you for quite some time and have a reasonable understanding of your background.
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Once you learn to dance, some of the information on your dash may come to use (technical analysis) but unless you are watching through the windscreen it's nothing more than guesswork.
Hope that helps.Ignored
DislikedI'll post later on over the weekend how I've been trading it so we can compare.Ignored
Quoting jestDislikedWould leighswww or fti or any of the oldtimers in this thread care to give an example say for a 100k account?
- how would we plan the MM?
- What is the max risk?
- how do we plan our scaling (attack and rescue)
- what are the preffered sequences depending on PA.Ignored
Quoting LeighDislikedI'll create another spreadsheet for those, like you, who have deeper pockets and can allocate enough troops for a 6 Lot Entry Sequence column.Ignored
DislikedOkay, I tried to create a 6 Lot Entry Sequence, however unless you can count/add the #5 Lot Entry Sequence in the "Lots Traded" for profit taking, this won't give you a decent income.
Sorry, jest.Ignored
DislikedZoran,
Thanks, Using a naked chart is not that big of a deal, however putting blinders on the minds eye is, as most of fib, fork, lines i see with the eyeball now, placing them only helps the memory.
The biggest hurdle i have mentally is the direction of the progression, as i was taught a fib progression but scaling into a projected entry zone with the bulk sitting at the very end, and then scaling out leaving the bulk to carry. Here it seems just the opposite. But me's a learning!
Hope your enjoying your vacation.
aIgnored
DislikedThe important thing to remember is that we are not applying fibs to price but to MM. So all those genius mathematicans out there, forget about being nostrodamus and applying complex calculations to price but instead apply it to MM and you're on the right track. This is exactly what Leigh is doing right now with her spread sheet.Ignored
DislikedDoremi.
If you follow luSans methods you wont go far wrong.
Remember to confirm your direction of entry with a higher time frame & don't attempt a rescue until you see an about turn (reverse).
AT this moment in time ( 08.05 GMT )I have just banked 51 pips trading EUR/USD short confirmed by hourly, I still have my scout out in the market and he is making good progress, I will average in as each small retrace takes place & average out on each stall in momentum.
Find your own way from fti's postings, he is truely a good tutor.
For myself I do use one or more the MA's mentioned in the above postings, to these I add fib levels, this works very well for me because as yet I don't have the full confidence to trade completely naked.
Take care, the market can be a beast.
Regards.
BabeFX.
I am wrong until the market proves me right. (POP Phantom of the Pits).Ignored
DislikedHi BabeFX,
.................................
The only thing which I'm sceptical is the stop loss....There's one occassion whereby my phone line got problem and by the time it was fixed the next day my account was totally wiped out.....luckily it was a micro account. Just my opinion....for those that trade without any stop loss(Sorry, FTI, I’m not against it)…… plse ensure you've a backup connection and don't end up like me. Plse be remindedIgnored
DislikedYes, yes and yes.
Zoran, you are wonderfull logical writer. I love the way you put it.
My fibo attack and rescue sequence:
Attack: 1-1-2-3-5-8 (5-8 if you are really brave. I normally stop in the 3)
Defense: That is more tricky...I do 3-9-20...but you could also use the same fibo sequence as she has in her matrix...I normally do not make it further than 3, rarely 9...Good lord, have never used 20.
why almos exponential with base 3? it is also 1-2-3 as exponent but the last one 27 is a little scary in my style...I have never gone further than 9...among the many fbi's messages there is one about beeing faster and more aggresive with the rescue...so...I ended up with my current one. Warning: nothing is fixed, there are not fixed rules but well-defined strategy.
Regard
My 2 cents.Ignored
Quoting ZoranDislikedI'm still trying to understand Leighs system. She goes in small but the last one is fairly agressive. As a boxer it would be Jab, Jab, Swing, Knockout. However, if the market ducks the knockout punch, the position could be at severe risk. Leigh, perhaps you can clarify the reasoning for it?Ignored
DislikedWill do as you suggested, say a 10k acc and let see how she grows. Im still very much practising the dance like what many here are doing. I like hypo 1 and 2.Ignored
DislikedHi Doremi,
It is not just the phone line that you can cause you a big problem. I have had:
1. Phone line down.
2. Internet Service Provider down.
3. PC crashed - Software.
4. PC Monitor died.
5. PC crashed - hardware (in my case the system board, but could just as easily been disk failure).
6. Power cut. We have had 5 in my street in the last 12 months (one just after I entered a trade) , and I live in England.
7. Broker server outage - just a brief one, but in a fast moving market that is enough.
So as well as always having my mobile phone with my broker's dealing desk number at the ready ( and a torch at night, I try to always remember to put at least a catasrophic stop loss on all trades (could be up to 300 pips or so).
Am I paranoid?
Perhaps, but only a little!
IanIgnored
DislikedI did consider longer timeframes at one point but I was obviously still blind at that time.
So while I'm still on the motorway, the 5min seems to be the speed of the traffic. Our brains can process it fairly well so lets say we are doing 70mph. Go to the 1min and everything speeds up so while most others are doing 70mph we are speeding at 200mph and out reaction time will not be as good so accidents are more likely.
Now if we go to the 4hr or daily, we are now doing 1mph. Who has the patience to sit and watch at that speed? What happens if your entry comes whilst sleeping in the back seat?
So my point is to dance at a comfortable speed and that seems to be the 5min for me.Ignored
DislikedYour comfortable speed for GJ @ 5M sounds like driving at Formula One Circuit......50-100 pips movement.......not the comfortable speed for the faint hearted.Ignored
DislikedI do EUR/USD because of 0.9 pip spread. What is the benefit of GJ? It does have a much higher spread: 3 pips. High volatility has a benefit...more opportunities for entering and exit, right?Ignored