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Technical Analysis Fallacy

  • #59,361
  • Aug 7, 2019 8:19pm Aug 7, 2019 8:19pm
Quoting xuel01
After two month of relatively relaxed working time and successful trading, I became busy in my own full time job and could not babysit my trades as much as what I did before.
fti has already answered your post and he is the authority here not me, so I hope you don't mind me commenting but when I read your post yesterday the quote above is what stuck out to me...You say you couldn't babysit your trades "as much". If you follow fti's trading methodology, there are no degrees of babysitting: you must be focused on managing your open positions all the time, until you have closed them all and are squared away. I'm sure there are other ways to trade and many traders who will walk away from their positions and come back to check on them later but in my experience, it's not the right approach. The only time I've ever got up and walked away from my trading station with open positions was when I got myself into such a mess that I couldn't face watching the price action!

From reading many posts on forexfactory, I'm pretty sure that retail traders who manage their open positions in real time like this are in a very small minority but that gives us a huge advantage and you shouldn't throw that advantage away.

I hope I don't offend you with my comments - I just think it's very important to understand this point and to appreciate the level of commitment that's required to trade in this manner.
  • #59,362
  • Aug 7, 2019 10:34pm Aug 7, 2019 10:34pm
Thank you FTI for all your suggestions. I will consider seriously about my own profession and trading. I have been on my job full time for 6 years and reached a point that needs some breakthrough. maybe now is a good time for some changing? will think about it.
Hi Ukmanthailan,
thank you for your comments too. I borrowed that "babysitting" words from another trader. Your words did remind me that "babysitting" may not the right word to be used here. FTI emphasized many times that you need to actively manage your positions. I thought I understood all FTI's points but your words remind me that I may not fully grasp the idea.
I will rethink about it. Maybe this is one of the key points I am missing at this moment. thanks a lot. Wish you and everyone good pips.
regards,
  • #59,363
  • Aug 7, 2019 11:29pm Aug 7, 2019 11:29pm
Quoting xuel01
Thank you FTI for all your suggestions. I will consider seriously about my own profession and trading. I have been on my job full time for 6 years and reached a point that needs some breakthrough. maybe now is a good time for some changing? will think about it. Hi Ukmanthailan, thank you for your comments too. I borrowed that "babysitting" words from another trader. Your words did remind me that "babysitting" may not the right word to be used here. FTI emphasized many times that you need to actively manage your positions. I thought I understood...
Hi, I didn’t mean there was anything wrong with the phrase babysitting, I just meant that you have to fully focus on the market when you have open positions. Maybe I misunderstood what you said but it sounded like you perhaps weren’t fully focused on the market and have other things to do. Anyway, I appreciate that you came to this thread to learn from fti and not me, so I’ll leave it there. Good luck with your future trading and I hope you achieve all your dreams and ambitions.
  • #59,364
  • Aug 7, 2019 11:33pm Aug 7, 2019 11:33pm
Quoting xuel01
I will consider seriously about my own profession and trading. I have been on my job full time for 6 years and reached a point that needs some breakthrough. maybe now is a good time for some changing? will think about it.
Hello Xuel01,

I believe that you will consider it very seriously,i.q., the advice by Fti and Ukman literally. Reckoning in that if changing as quitting the permanent job and switching totally on trading might take more than 6 years of highly risking with no earning (costs of living).

Indeed, everything is indicated within this thread. Step by step, one step at a time. Risk, suspense, urge, stress - worry, imagination and/ versus impartiality, patience, facts, knowledge and skills. Look well before you leap.

Wishing you a fair wind.
Not to Advance is to Fall Back
  • #59,365
  • Edited 5:14am Aug 8, 2019 5:04am | Edited 5:14am
Oh shit, all my second homes.
Eeer so many kukubines meh???
Workubines?
What a place.
Even dead also live in hdb and someone pays conservancy fees.
Hahahaha this cage.
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  • #59,366
  • Aug 8, 2019 5:15am Aug 8, 2019 5:15am
Col tan monopoly.

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Just control all the......????

SAND.

I think your grandfathers in there...... Somewhere.
  • #59,367
  • Aug 8, 2019 5:21am Aug 8, 2019 5:21am
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  • #59,368
  • Edited 6:39am Aug 8, 2019 5:58am | Edited 6:39am
Hahahahahaha.
Dalai baru.

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Eeer shit, what has this got to do with trading???
Ok alien technology. Hahahahahaha.
Good medicine. Hahahahahahaha.
And waterproof. Hehehehe mad man.


Regards
  • #59,369
  • Edited 9:53am Aug 8, 2019 9:28am | Edited 9:53am
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  • #59,370
  • Aug 8, 2019 10:54am Aug 8, 2019 10:54am
Hi FTI,

Glad to see that you being active here again.

I felt like I am having the over-trading problem, can you share some guidance on how to filter out when not to trade and when to commit a more aggressive attack sequence?

Most of my trades were during Hong Kong working hours.

My performance has been poor lately, it feels like my profitable runs are insignificant comparing to my rescues.

I mainly based my position size on price movement and it's volatility.

Thanks again for your teachings.
  • #59,371
  • Aug 8, 2019 12:05pm Aug 8, 2019 12:05pm
Quoting smallpotato
Hi FTI, Glad to see that you being active here again. I felt like I am having the over-trading problem, can you share some guidance on how to filter out when not to trade and when to commit a more aggressive attack sequence? Most of my trades were during Hong Kong working hours. My performance has been poor lately, it feels like my profitable runs are insignificant comparing to my rescues. I mainly based my position size on price movement and it's volatility. Thanks again for your teachings.
Sorry potato,
I no energy reply you today.
After i get rest. Maybe tomorrow.
Sorry.

Refards

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  • #59,372
  • Aug 8, 2019 8:56pm Aug 8, 2019 8:56pm
Quoting smallpotato
Hi FTI, Glad to see that you being active here again. I felt like I am having the over-trading problem, can you share some guidance on how to filter out when not to trade and when to commit a more aggressive attack sequence? Most of my trades were during Hong Kong working hours. My performance has been poor lately, it feels like my profitable runs are insignificant comparing to my rescues. I mainly based my position size on price movement and it's volatility. Thanks again for your teachings.
hi, i think it is as such. in red below

how to filter out when not to trade (when terrain is unfamiliar, say major news, unfamiliar price action, unfamiliar with strategy to manage the market scenarios impacting price) and when to commit a more aggressive attack sequence (when you have foreign capital to back u up, when price volatility is low needing a stronger attacked but coupled with short stay, when familar with strategy to manage market scenarios impacting price, when have strong backup plan to maneuver out in case being routed by market) ?

My performance has been poor lately, it feels like my profitable runs are insignificant comparing to my rescues (rescue is within attack, and attack is within rescue. they lead to each other in endless cycle. when sum of position is in loss, prepare rescue mode in tandem with market scenarios to bring cost close to current price. when sum of position is in profit, and price is permitting and in early run, prepare attack mode capability accordingly to bullets left to carve out your profits. when a position turns from negative to positive, evalute where market stage is, is it early? is it late? is it ranging? and prepare strategy to collect current profits or to collect more by expanding position size. rescues mode is means timing is wrong. when rescue is sucessful, mean stratetgy and read of market is correct. you will always be in rescue or attack mode. does not mean rescue is bad. could be your size is too big impacting your mindset when you rescue.) .

hope it helps.
THE ALL is MIND; The Universe is Mental
  • #59,373
  • Aug 8, 2019 11:04pm Aug 8, 2019 11:04pm
Just to clarify something: Over trading means using too much leverage not trading too often, at least that's the accepted meaning as far as I know.
  • #59,374
  • Aug 9, 2019 2:46am Aug 9, 2019 2:46am
I hope everybody have a nice relaxing weekend. I'm all squared with just under 1.5% profit on the day. I like to finish early on a Friday because I usually end up trading like a madman.
  • #59,375
  • Edited 1:20pm Aug 11, 2019 12:51pm | Edited 1:20pm
Quoting smallpotato
Hi FTI, Glad to see that you being active here again. I felt like I am having the over-trading problem, can you share some guidance on how to filter out when not to trade and when to commit a more aggressive attack sequence? Most of my trades were during Hong Kong working hours. My performance has been poor lately, it feels like my profitable runs are insignificant comparing to my rescues. I mainly based my position size on price movement and it's volatility. Thanks again for your teachings.
I stll scrstching my head (both heads) how i am going answer this.

Firstly, i have never in my life tried make a 10 cents phone call with 7 cents.

Secondly, i never ever tried fly aircraft, with half load kerosene.

Thirdly, i don't even think i will drive to my destination with half the required petrol. Won't even start the car.

Let me see if i can find a way lie to you about trading with insuuficient funds and backup contingencies successfully. I understand, if your account gets splashed, is totally not my responsubility, so i can say anything i like.

Maybe if i remsin quiet, i won't lose a friend.
Everyone loves a magician. Even though they know its just tricks.

I am sorry, i am not so clever.

Guess who the marketcplayers make the pips from.
If you can answer that, then you are more clever than me.

Regards
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  • #59,376
  • Edited 1:39pm Aug 11, 2019 1:07pm | Edited 1:39pm
Quoting ukmanthailan
I hope everybody have a nice relaxing weekend. I'm all squared with just under 1.5% profit on the day. I like to finish early on a Friday because I usually end up trading like a madman.
Ahhhhh good work, my madman friend.


Regards
Happy monday and rainy days.
Ooops typhoon.
All the dragons at the bottom of mawei, coming on shore. Hahahaha ghost month. Ok free saki please.
  • #59,377
  • Aug 11, 2019 1:39pm Aug 11, 2019 1:39pm
I saw this on the BBC and thought you should see it:
Typhoon Lekima: Toll rises as typhoon moves up China coast - https://www.bbc.co.uk/news/world-asia-china-49310258
  • #59,378
  • Edited 3:16pm Aug 11, 2019 1:51pm | Edited 3:16pm
Quoting ukmanthailan
Just to clarify something: Over trading means using too much leverage not trading too often, at least that's the accepted meaning as far as I know.
Eeeer yes biting off more than can chew.
If pro, not trade often is what pro?
But trade as much as necessary make targeted income is already good enough.
Don't damage body like yours truly. There is no greed meter, use common sense. Otherwise join me, 14 pills daily.
Your choice.

Regards

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Eeeer my bones.
Now misi, ok enjoy.
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  • #59,379
  • Edited 4:19pm Aug 11, 2019 4:04pm | Edited 4:19pm
Sea of dragons.
Great grandpa, pls pass the opium.

Compliments of 4G.
https://youtu.be/
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  • #59,380
  • Edited 6:13pm Aug 11, 2019 5:40pm | Edited 6:13pm
Sugar daddy in non due diligence trouble.
You make it you can clean up.
More loans to service npl please.
Hahahaha iceberg.
Some people just cannot handle wealth.
Son fast go borrow more money. Daddy need service loans and piliticians pockets. Gogogo cina.
Talk c sing song. Whatever. Eeeer famine just started? Bollow peter pay paul.??nonono new world order Ahmed borrows alipays.

Lender’s remorse? China’s Africa projects need lots of debt forgiveness
https://sc.mp/rwf7

Taione wans bollow buy fu37.
Kingkong wants bollow buy rubber bullets.
Grass sean wants bollow buy lockets vx.
asean wants bollow buy rubber ducky.
Can i bollow buy medicine for u?
my credit rating very good. Evey thing i buy on credit. Even the credit. Hahahaha i very good pai ma pee at un and at night you cannot find me, unless i smile.Ooops

Parliment so happy, new loans.
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