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Technical Analysis Fallacy

  • #58,441
  • Apr 19, 2019 4:56am Apr 19, 2019 4:56am
Well great.... Donsky gone.... Jupiter gone.... Phil gone. Harrumph.

Gann told me off to gym... look after body and soul.

Alex
check out the terrain - follow never lead
  • #58,442
  • Apr 19, 2019 10:24am Apr 19, 2019 10:24am
Quoting phil13
OK, SO RUIN THIS POOR MAN’S WORK AND EFFORTS IT IS…… SHAME ON YOU… Look at the posts since the ‘wake up call’ I warned about, Alex and myself are the only one’s that have actually tried to help anyone since then on this thread, the rest of you who have posted are only interested in in ruining this thread, so let the end begin here, these new fools that have decided to only join in due to the issues here, try acting your age instead of your shoe size, yes 7th dim-wit and sliding down, AND as for the so called old school people you only ever turn...
The juxtaposition of our last posts is perfect. Indignant martyrdom has arrived for you. It's best you take a deep look at your ego. As for the "old school people", and I'm just speaking for myself now, I know that, reading and studying the first 200 pages of this thread is all you need to do if you want to understand fti's important contribution to trading. If you want to know more read through the next 400 pages, and just about every question is asked and answered by fti. I don't spend time here for the following reasons: 1,2,and 3. Fti isn't here; 4. Everything a new reader wants to know is in pages 1 to 200, then pages 201 to approx. 600, and I can't do a better job today than fti did in 2009; 5. Having learned so much from fti, I would never assume it to be my place to sit in his back yard here and answer questions for him, aside from saying, "read and study the first 200 pages, then read the next 400".

Sorry about your anger and your hurt feelings. You should not trade with such a mindset, so take some time this weekend to deal with that. If fti has been trading these past few months, I'm sure he's been working both sides of the mountain! Enjoy the dance.
  • #58,443
  • Apr 20, 2019 4:54am Apr 20, 2019 4:54am
It's a shame that nobody feels able to carry the torch though, as I think that's what fti wanted at one time. Speaking for myself, I'm just not qualified to do it, but I don't know how others feel. I've worked out an MO that keeps me profitable but it's nowhere near close enough to what fti teaches in this thread to be of much use to anybody else.

My main takeaways from what fti taught:

It's myself I had to master first. There is no secret formula or technical analysis that holds the key to long term profitability. I was my greatest enemy.

Scaling in and out of positions offers a flexible MO that allows you to react appropriately to price action. In comparison, entering a single position after performing an analysis, and hoping for the best, is akin to gambling in my mind.

----‐--------------------

The details of attack sequences with phi and its skew always eluded me to be honest. When I tried to implement such attack sequences, I either found myself keeping my average entry price too close to the current market price or I entered my positions too early in an effort to avoid this, and ended up having to rescue too many trades. So really, I have failed to understand key concepts in this thread and have had to make do with what I could understand.

I still go back occasionally, to try to see what I missed, but maybe it will always elude me and I will have to be happy with what I have learned. Mastering my ego was the real key for me though, so I am very grateful that I happened on this thread 10 or 11 years ago (it seems incredible that it was such a long time ago). I will keep on learning.
  • #58,444
  • Apr 20, 2019 5:01am Apr 20, 2019 5:01am
Quoting ukmanthailan
It's a shame that nobody feels able to carry the torch though, as I think that's what fti wanted at one time. Speaking for myself, I'm just not qualified to do it, but I don't know how others feel. I've worked out an MO that keeps me profitable but it's nowhere near close enough to what fti teaches in this thread to be of much use to anybody else. My main takeaways from what fti taught: It's myself I had to master first. There is no secret formula or technical analysis that holds the key to long term profitability. I was my greatest enemy. Scaling...
hi - What is a MO?
Don't trade what you think. Just what you see!!!
  • #58,445
  • Apr 20, 2019 6:25am Apr 20, 2019 6:25am
Modus Operandi
  • #58,446
  • Apr 20, 2019 7:16am Apr 20, 2019 7:16am
Quoting handy148
Modus Operandi
Many thanks- Every day, a school day!! It even sounds really nice to the ear.
Don't trade what you think. Just what you see!!!
  • #58,447
  • Edited 9:30am Apr 20, 2019 8:53am | Edited 9:30am
Quoting Theoak
{quote} Many thanks- Every day, a school day!! It even sounds really nice to the ear.
Yes, sorry, I meant I have worked out an approach, a style of trading, that suits my personality and resources. It's not a million miles from what was taught in the thread as far as reading price action and MM (money management) are concerned but maybe not what fti had in mind either, I really don't know. As he said though, you have to find an approach that suits your mindset, your risk appetite etc.
  • #58,448
  • Apr 20, 2019 10:05am Apr 20, 2019 10:05am
Quoting ukmanthailan
It's a shame that nobody feels able to carry the torch though, as I think that's what fti wanted at one time. Speaking for myself, I'm just not qualified to do it, but I don't know how others feel. I've worked out an MO that keeps me profitable but it's nowhere near close enough to what fti teaches in this thread to be of much use to anybody else. My main takeaways from what fti taught: It's myself I had to master first. There is no secret formula or technical analysis that holds the key to long term profitability. I was my greatest enemy. Scaling...
I did the same as you (btw -- it's been a long time...hope you are well!) with fti's teaching. I know he would scoff at my approach as being too ridgid, but he is a unique trader in his fearless approach (I freely admit to lacking balls of steel). He taught me to master myself and to dance with the market, but in reality, my dance is pretty stiff. But it has to be stiff for me to make money. I thank him every day for my profits, and I think of him every time I enter a trade, wondering if hes with me or on the other side of the trade -- lol. So, I would not be able to represent his approach, or his keen mind, or his mental toughness. Maybe one of the early people could, and I often think about the likes of Zoran, leighsww, luSan, David Green, DutchAngel, Jairo, you, and all the others. We all participated and contributed early on, but I doubt any of us has what it takes to step in for fti. Good trading and Happy Easter!
  • #58,449
  • Apr 20, 2019 5:51pm Apr 20, 2019 5:51pm
Quoting ukmanthailan
It's a shame that nobody feels able to carry the torch though, as I think that's what fti wanted at one time. Speaking for myself, I'm just not qualified to do it, but I don't know how others feel. I've worked out an MO that keeps me profitable but it's nowhere near close enough to what fti teaches in this thread to be of much use to anybody else. My main takeaways from what fti taught: It's myself I had to master first. There is no secret formula or technical analysis that holds the key to long term profitability. I was my greatest enemy. Scaling...
hi,

i am not able to read any material w.r.t TA after FTI entered my trading life. they say all currency are ultimately moving to 1 against USD. why this is important. i will come to it soon.

my attempt to dance on FX with the methods prescribed here were futile. the reason could be manifold.

  1. i did not know to dance then
  2. the market was very volatile for me
  3. i was over leveraged
  4. my entries were very close to the CMP.

After many repeated attempts on demo account and changing to US Oil, the trading results changed to green. there could be many reasons for this but importantly selection of an instrument that has a tendency to revert to mean greatly contributed for my success.

why commodities have a tendency to revert to mean. lets say the bare minimum manufacturing/production cost of CRUDE is $40/barrel. if CRUDE is trading below then you could have a long bias and vice versa.while there is no guarantee that it will revert to the mean ($40) soon, the tendency to revert to mean is written all over. why this is useful for us.

crude ticker

38
36
34
30
32
35


you see if we were long at 38 and attempt to rescue at 30 will be successful. with forex i find it difficult. so one can explore additional markets without much leverage, the whole thing, falls in place.

just my few cents

  • #58,450
  • Apr 21, 2019 1:34am Apr 21, 2019 1:34am
Quoting GEfx
{quote} I did the same as you (btw -- it's been a long time...hope you are well!) with fti's teaching. I know he would scoff at my approach as being too ridgid, but he is a unique trader in his fearless approach (I freely admit to lacking balls of steel). He taught me to master myself and to dance with the market, but in reality, my dance is pretty stiff. But it has to be stiff for me to make money. I thank him every day for my profits, and I think of him every time I enter a trade, wondering if hes with me or on the other side of the trade -- lol....
Happy Easter to you too, it has been a long time! I'm very well thank you, I hope you are also in good health and enjoying your trading.
  • #58,451
  • Apr 22, 2019 1:47am Apr 22, 2019 1:47am
Once again,

Fti's post No 23107: "...am very fond of the community that is developing. i pray that you will all keep the fire alive and foster this developments to new hieghts and comaradieship."

Fti's post No 24291: "... i would be very happy see those able , carry the baton forward for me here to help others in their quest."
Not to Advance is to Fall Back
  • #58,452
  • Apr 22, 2019 5:23am Apr 22, 2019 5:23am
Quoting GEfx
{quote} I did the same as you (btw -- it's been a long time...hope you are well!) with fti's teaching......
I don't think FTI had in mind that anyone steps in for him in quite that way.... why would he do that to that poor person after all... I think it was his hope that peeps could answer questions for others to stop them going wrong or to add to their learning as they struggle... but struggle we must. Phil and others have tried to do that for peeps for years BTW out of respect for FTI- think you have read the situation wrongly my friend.

I so agree that all the answers are in this thread already... I do not understand why I did not see that before... weird. I have a totally different experience when I read things now to when I did before and wonder what the heck I was doing before.

Happy Easter

Thoughts are with peeps in Sri Lanka....lovely country... so sad

Alex
check out the terrain - follow never lead
  • #58,453
  • Apr 22, 2019 6:37am Apr 22, 2019 6:37am
Alright then, go on, let's read the first 200 pages of this thread and hoping to hone my trading skills - if ever i've got one

come on lads...

chop chop!
  • #58,454
  • Apr 22, 2019 1:38pm Apr 22, 2019 1:38pm
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Not to Advance is to Fall Back
  • #58,455
  • Apr 22, 2019 2:05pm Apr 22, 2019 2:05pm
Quoting fti
{quote} Another thingy is that my friends will have double task. Become like me document their learning curve research and posting here keep this source thread alive. otherwise this source thread will expire when i am gone home. regards
The cited text was re-posted last week by Phil13, who has been doing his best, IMHO.
Not to Advance is to Fall Back
  • #58,456
  • Apr 22, 2019 10:06pm Apr 22, 2019 10:06pm
Quoting alexandria
{quote} I don't think FTI had in mind that anyone steps in for him in quite that way.... why would he do that to that poor person after all... I think it was his hope that peeps could answer questions for others to stop them going wrong or to add to their learning as they struggle... but struggle we must. Phil and others have tried to do that for peeps for years BTW out of respect for FTI- think you have read the situation wrongly my friend. I so agree that all the answers are in this thread already... I do not understand why I did not see that...
I'm not sure what you mean by "step in for him in quite that way". I stepped away from this thread out of respect for my teacher, but maintained respectful contact with fti for years after I stopped posting regularly. I'm not qualified to represent his approach to trading or his ability to dance. However, I'd bet money that he and I are often in the same trades!

And I have not misread the situation. I'm sure all who take leadership roles here have their heart in the right place and are well meaning. But let's be honest and clear here: there is one man who will close this thread, and he stepped away 2 years ago to focus on something or someone else. Taking it upon yourself or yourselves to make that decision is...despicable. Work hard here and play nice, but f***ing never talk about fti's health (not accusing you personally)! I'd like to see Twee suspend anyone guilty of spreading this garbage. Good trading everyone (I bet fti has been short the GY since this morning!).
  • #58,457
  • Apr 22, 2019 10:56pm Apr 22, 2019 10:56pm
Quoting GEfx
{quote} I'm not sure what you mean by "step in for him in quite that way". I stepped away from this thread out of respect for my teacher, but maintained respectful contact with fti for years after I stopped posting regularly. I'm not qualified to represent his approach to trading or his ability to dance. However, I'd bet money that he and I are often in the same trades! And I have not misread the situation. I'm sure all who take leadership roles here have their heart in the right place and are well meaning. But let's be honest and clear here: there...

so you are all shorting GY i have been buying it since Japan open. need to re asses troops now.
  • #58,458
  • Apr 22, 2019 11:10pm Apr 22, 2019 11:10pm
Quoting GEfx
{quote} I'm not sure what you mean by "step in for him in quite that way". I stepped away from this thread out of respect for my teacher, but maintained respectful contact with fti for years after I stopped posting regularly. I'm not qualified to represent his approach to trading or his ability to dance. However, I'd bet money that he and I are often in the same trades! And I have not misread the situation. I'm sure all who take leadership roles here have their heart in the right place and are well meaning. But let's be honest and clear here: there...

one day they say they want this thread closed until the thread starter comes back then they say fti is dead, and now you sir is saying that he's still alive and busy doing something else or somebody else; now my question is this, if fti is really still around, why not try to do something about this circus going on. I have read how direct he was with some trolls wandering on this thread and whacked them with no mercy. please don't get me wrong, of course i am happy knowing that fti is well.

i'm still on my second read for the first two hundred pages as suggested by many here.
  • #58,459
  • Apr 23, 2019 12:37am Apr 23, 2019 12:37am
We only fighting or anyone putting some trades?....we just talking only what to do or are people putting some trades....fighting the fight or just talking the talk>?
  • #58,460
  • Apr 23, 2019 1:01am Apr 23, 2019 1:01am
[quote=indianguyinny24;12234615]We only fighting or anyone putting some trades?....we just talking only what to do or are people putting some trades....fighting the fight or just talking the talk>?[/quote

Neither trade I the genuine Fti way nor can I explain it here - I won't be authentic , so I talk trading in my journal. But we may discuss other pillars necessary to build a trader, e.g., trader mindset, ant work, wolves, monk and moth, AoW, etc.
Not to Advance is to Fall Back
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