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Technical Analysis Fallacy

  • #57,741
  • Sep 5, 2017 8:50am Sep 5, 2017 8:50am
Quoting GoldenFinger
https://www.youtube.com/watch?v=1AV8...HWMyi#t=97.582
Hello GoldenFinger,

A nice melody you posted. Regarding our mindset and practising path, let me once again remind on two posts: 20371 where Gro refers to FTI ("Start your trading , very very very small and practise your skills. Make the 2 cts, 5 cts, $1, $5 and you will SLOWLY find your benchmark.You may take like 5 to 8 year to get good at it. So it is sucidal to try to emulate me, I am beyond pains.") and 40910 on Leverage (Last warning by FTI). People here may see a lot of FTI's gems but occasionally pay less or not at all attention to those matters (perhaps just skip them).

I've also found a picture on the Forex Food Chain as interesting to keep in mind, post No. 109 at https://www.forexfactory.com/showthr...=689135&page=6

We all need a break sometimes and not force ourselves. If engage, then be "humble and fluid" (FTI).

All the best to you!

Best regards, Exnav
Not to Advance is to Fall Back
  • #57,742
  • Sep 5, 2017 9:46am Sep 5, 2017 9:46am
from our friend fti....

the most efficient and core markets used to be the usd/dmk.
she has grown up and become the euro now.
this the reason why your core activities should be centered around the euro/usd.
then beside her you should have cable and yen, these the next layer of the core. then the swissy.
These called the majors, ie major markets.
after building the core in place you need incorporate the crosses between the 4 core majors in strategic manner so as to feel the flow of the majors.
Noticed i never mentioned usd. That because usd is the center of the wheel. Drives everything.

http://www.forexfactory.com/showthre...25#post6419025
------------------------------------------------------------------------------

just saying but maybe this is why the markets have been the way they have the last couple of days, personally i do not trade on USD holidays and until their next session joins the market as it has now.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #57,743
  • Sep 5, 2017 7:00pm Sep 5, 2017 7:00pm
Quoting GoldenFinger
{quote} Hi cookie, Yes there are certainly plenty of ducks around daily high-low, session high low, range band, and one can certainly rescue in this area, but the problem is the changing volatility, if one book is sufficient large, it can stomach several level. But the problem is, after several level, ranging market turn into trend, and it shows across the board, meaning all rescue get caught，if one decide to cut, it will be very painful giving in several level of rescue, not cut one might never have a chance to trade again. This is the worst...
When one must wage war in a time of peace then one must wonder at the mindset of the General.

Does he not have a family to get home to, a mistress even?

must he be so bold as to parade naked in the streets screaming whilst the people seek sleep.

does he own this world?

What scout would follow this man? Can he not see the resting time?

September is full of important events, lets hope this naked man still had a penis when his camp is raided

=p

https://m.youtube.com/watch?v=RQ8LkOwWfaw
Time hides Nothing
  • #57,744
  • Sep 5, 2017 7:08pm Sep 5, 2017 7:08pm
Quoting CindyXXXX
{quote} When one must wage war in a time of peace then one must wonder at the mindset of the General. Does he not have a family to get home to, a mistress even? must he be so bold as to parade naked in the streets screaming whilst the people seek sleep. does he own this world? What scout would follow this man? Can he not see the resting time? September is full of important events, lets hope this naked man still had a penis when his camp is raided =p https://m.youtube.com/watch?v=KDhdOOBbFo8
LOL, Chris did you ever think about becoming a writer?
your post are some of the best.
  • #57,745
  • Sep 5, 2017 8:37pm Sep 5, 2017 8:37pm
Thanks everyone for their insights, yes cindy I still has my penis, although it shrink a little bit these few days tho...

just to point out one thing, the danger of rescue, if one consistently put a large rescue position that only a few pips will be enough for him to escape, it is equivalently to puttting a big one off position and aim for tight profit, sl. Albeit he can time the market, but nobody can be sure whther the rescue will work. The house edge is just too huge. For a 10pips 1:1 Risk reward, and cost of trading is 1 pips, a trader will need 55% win rate just to breakeven. A lot of trader think he has an edge, but only until he encounter choppy ranging market.

the bottom line is no matter what % of profit target one is aiming, he should let the market give it, when the market does not present such opportunity, just take whatever given, or sit outs. Force with huge leverage just to make the profit target, is the quickest way to burn the book. This I believe is what fti called trading is a ant work, even 0.5% initial position can be too high if one want to dance several pairs, and have to rescue into all of them.

the best way for me IMO is to trade sufficiently small, and rescue with medium position, most of the time yesterday high-low, has plenty of ducks, hopefully the market will grab them. This is only if market volatility is high and is ranging, if low volatility, might not even have to rescue.

If trade with longer tf, perharps the long term trend can kick in, give a trader to fight his way out.

If trend suddenly go against him, there is nothing much one can do, either bite the bullet and flip, or lock, but lock is very tricky as one might buy at the top and sell at bottom.

so the only way to survive is to trade small small, rescue small small, making small profit in ranging days and survive until the time big wave comes, and then only we surf.

Regards
  • #57,746
  • Sep 5, 2017 9:16pm Sep 5, 2017 9:16pm
but if RR is 2/1 you only need to be right 33% to break even.
  • #57,747
  • Sep 6, 2017 12:26am Sep 6, 2017 12:26am
Quoting CindyXXXX
i never followed fti's method i just liked the guy my mentor thought he was a joke to be honest But i think for myself.
Hello Cindy,

You do have a sense of humor. I suppose that none of us has met FTI in person nor got his credentials confirmed by appropriate authorities. That might apply as well to almost everyone here on FF, or like a famous "All the world's a stage..."

Another good picture "Market Iceberg" I found posted by Hanover at post 778 https://www.forexfactory.com/showthr...346227&page=39
as well as his brief "Oderflow Basics" at post 764 and being well explained here http://forextradingstrategies4u.com/order-flow-trading/

As far as I'm concerned, just assume that FTI was indeed a PRO at Tier1; there he had proper mindset, skills, access to necessary market information and CAP. What might have affected him after - while he was probing the FX retailer - mindset and lack of corporate/ market data access. For us - retailers, to survive and succeed, IMO, we may persistently try to get all the required (on ants level and depending on YOU) apart from the specific corporate data that is privelege of the Iceberg founding sharks. I may still be wrong, however.

Best regards, Exnav
Not to Advance is to Fall Back
  • #57,748
  • Sep 6, 2017 1:06am Sep 6, 2017 1:06am
Quoting CindyXXXX
i never followed fti's method i just liked the guy my mentor thought he was a joke to be honest But i think for myself. https://m.youtube.com/watch?v=KDhdOOBbFo8
Well I would definitely be interested in seeing how your mentor trades.
  • #57,749
  • Sep 6, 2017 2:44pm Sep 6, 2017 2:44pm
Quoting fti
{quote} for newbies i know is difficult flow tlike this. Needs much market experience. At least you need drop the crystall balls and focus dance the 1 leg. when you mastered that then you can do 3 kingdoms like i did. I did 1 kindgom to 3 kingdoms, then 5 kingdoms, which later consolidated back to 3 before squaring out. I not even did the sub crosses yet. If the 5 kindoms gets into trouble it spills over to the sub kingdoms. regards
Bro, are you talking about game of thrones or forex market? LOL
  • #57,750
  • Sep 6, 2017 9:49pm Sep 6, 2017 9:49pm
Quoting dogdays713
{quote} Bro, are you talking about game of thrones or forex market? LOL
Same same but different?

Vested interest that's the same part.
  • #57,751
  • Sep 7, 2017 2:32am Sep 7, 2017 2:32am
Quoting dogdays713
{quote} Bro, are you talking about game of thrones or forex market? LOL
Try read romance of the 3 kingdoms, same same but different from game of thrones.

That's how the ro3k got it's name
  • #57,752
  • Sep 8, 2017 1:32am Sep 8, 2017 1:32am
Quoting CookieMonsta
{quote} Well I would definitely be interested in seeing how your mentor trades.
I wouldn't!
  • #57,753
  • Sep 8, 2017 1:37am Sep 8, 2017 1:37am
Quoting ukmanthailan
{quote} I wouldn't!
Why not? Just curious to see what it's like, that's all.

Well, part of profiling players, AoW, know self know enemy.
  • #57,754
  • Sep 8, 2017 2:49am Sep 8, 2017 2:49am
Inserted Video


Mentoring... "everyboby needs a coach"... No mentor, no success, etc. I wish I had a coach.
Is mentoring a trading?

Best regards, Exnav
Not to Advance is to Fall Back
  • #57,755
  • Sep 11, 2017 4:49am Sep 11, 2017 4:49am
Quoting GoldenFinger
Thanks everyone for their insights, yes cindy I still has my penis, although it shrink a little bit these few days tho...
I like your reply.

....terrain should determine what we do and what is sensible to do so we have to learn how to handle different terrains.

Alex
check out the terrain - follow never lead
  • #57,756
  • Sep 11, 2017 6:14am Sep 11, 2017 6:14am
Hi Alex

welcome back my friend .

hope it went well for you.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #57,757
  • Sep 11, 2017 10:34am Sep 11, 2017 10:34am
Quoting fti
foochow龍長孫程乒政
Hi fti, it has been a while since you posted. How are you doing?

Anyone heard from fti lately?
  • #57,758
  • Sep 12, 2017 2:16am Sep 12, 2017 2:16am
Quoting phil13
Hi Alex welcome back my friend . hope it went well for you. regards Phil.
Thank you my friend - still recovering but part-time looking at charts for a bit - I'm impatient patient.

Alex
check out the terrain - follow never lead
  • #57,759
  • Sep 12, 2017 2:17am Sep 12, 2017 2:17am
Quoting Zoran
{quote} Hi fti, it has been a while since you posted. How are you doing? Anyone heard from fti lately?
Not heard anything. We are all concerned.

Alex
check out the terrain - follow never lead
  • #57,760
  • Sep 12, 2017 2:25am Sep 12, 2017 2:25am
Quoting Exnav
https://www.youtube.com/watch?v=NgDQGa55BEE Mentoring... "everyboby needs a coach"... No mentor, no success, etc. I wish I had a coach. Is mentoring a trading? Best regards, Exnav

Not sure that is true, it seems to me that the majority of people who gain true success in life, do it the hard way, taking their own council, perhaps particularly in the sphere of trading, finding a mentor that has no other agenda is very difficult indeed.
I live entirely from the growth of my personal trading account
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