Technical Analysis Fallacy

Glad you have a great progress onto success.

I think you can make pips both long term and short term. In my case, short term trading need more skills, experiences, more attention, higher pressure. And my short term trading result is worse than my longer term trades. But my longer term trade is also not so good.

Cheers

David

LOL, well hang in there, David

Say, what's happening with your last trades ... did you exit your USD/JPY one finally (it went down to 109.56)?

While we wait for fti to get ready his next lessons, we can chit-chat about our trades for a bit, lol

To Fti, Leighsww, Zoran, and everyone who has contributed to this thread, thanks for making this the best thing I've read on this forum in over a year!!

Leighsww, I've read the thread all the way through, but I don't recall fti posting much in the way of particulars about his method, although I do have a "feel" for his trading philosophy I think. Are there any additional specifics to it posted in another thread that you can point me to?

Thanks again everyone!!

Hey, sm31 ... welcome!

No, there's nothing in other threads, anything of value is basically all here right for now. He's just laid the foundation and will be going into MM and strategy, so stay tuned!!

Islander ... wait for the MM and strategy lessons before doing any incorporating of the stuff I quoted above, lol

Thank you Leigh.

I didn't close my U/J position with +20 pips last night when it reached 109.6. But I took the helicopter and closed it @110.24 with -50(including interest about -12pips). For this account opened with a bank, this is the only trade with loss since last week .

I opened one more U/J short position @110.84 yesterday, but due to my impatience, I closed that position with only +10. Well, no patience, that is my biggest issue. On the other hand, I was patient for this troubled position, but with some loss.

Trading has so many conflicts and contradictions.

David

Hi ALL,

Thanks all who have said such kind words.
and much appreciation, for Leighsww, who has done much in the keeping this thread vibrant and alife.
(wondered if this could have continnued without your lending , your aura. LOL)

My reason for making this thread was to help traders (for free), come back, with their feets back to the ground. for some of you, you may understand what I mean.

Nevertheless let me explain.
If you had watched "crouching tiger and what? was it (hidden) dragon" . You may remember the lead actor and actress standing on the tip of bamboo leaves, and holding each other in a most romantic scene. Chinese martial arts is good for health and trains lots of very good lessons about the body and mind. BUT make no mistake that what you saw is not humanly possible. ( well, not for me, the having the woman in arms part maybe, but not with both of us standing on the tip of bamboo leaves) Thats where the problem lays. There are many super analysts today teaching their reserches of this kind of fantasy/fallacy, in the name of technical analysis. Taking the trading community to feats not humanly possible. Worst there are scammers cashing in to this, and begining to mislead the perceptions of most wanting traders.

The tree branches out, that is the nature of growth. But when a branch tries to reach out to topple the tree, it should be trimmed, lest the action be allowed to continue, distroying the main.

Thank you Leighsww, your analysis and the revealing of my performance, and reasonings are very level minded. Now thats its in the open,( I asked you not to), I accept your compliments. And further, I confess , YES, I am a super dealer. My performances in the markets willblow your mind.( there goes modesty, such disgraceful self-praise.), but I paid the price with my health and body. Theses days I go thru these battles sparingly due to physical fatigue. I've had the pleasure to sparing with the best in my industry (my region), the likes of C.Muku (the king of USD/DM), D. Leong & J Yeoh (citicorp smm(super marketmakers) ), QH. Ho (grenfell smm), R.Loke( merill L), W.Chow( UBS mastro), Mr K.Koh,(Secpac smm), V. Lam( Midland smm), CN Ho(Morgan fame smm), Kono san (BOT smm), S. Sim(UBS), L.Khang(Bankers Trust), H Chan (Rabo) D Mak(First Interstate)......if this list goes on I'll start a interbank dealing directory listing. These people are all retired already , some are no longer around. nevertheless for regional smm, these were some of the best. We all much thinks alike. Based on our performance, its not possible to be wrong.

What Leighsww, has seen in the hand held sessions, is only the tip of the iceburg, I imposed my thinking on her, for her to feel the actual running battles. (reward for your standupness and your beautiful personaity) But for trading, you have to think for yourself, do try to ruplicate the "feel" of the dance. The truth is, the rest of the iceburg, is not really so different. If you had seen one , you had seen all.( and don't take this the wrong way) The terrain may change, but the it's, more of the same.

When we move into the Art of war and MM , always remember this, I say again, do not forget.
It can be used as the sword that leads you into great victories and grandure.
But forget the, foundation and the mindset, be careless, and it will be that which will take your head off.
I could havr in 1 posting gave you the summary, like what Islander did.(and you made some wrong assumtions there, but your understanding of the concept is correct),
but that way, I felt would be giving dangerous weapons to the uninitiated.

And nobody likes ripyard, huh, too negative?

regards

PS: the other isp was blocking my long postings, possible tech problems. this ones ok.

ACK, you told me not to show anyone your blotter and I have not done so, but when I asked you if I could share the info and that of what you taught me, you said that I could. I then said that I would wait for you to do so yourself when you open your thread here at FF.

Oh my, I feel very badly now, because it seems that I had misunderstood what you meant (actually, I have the email, so I can resend it to you, lol). I did not figure that the results of your blotter was the same as showing your blotter, because you had specifically mentioned that your identity should not be disclose for that, thus why I thought giving the results was not the same.

I am so sorry if I had misunderstood what you meant. I am one who holds high regard my integrity, and I would never have compromised something that you would have told me in confidence.

Oh my gosh, I don't know what to say now. I think I better keep a low profile, lol.

That was an excellent poem! Didn't I tell you that we may not necessarily comment on everything you post, lol :

Hi fti. I don't know about "a little light poem", or "easy reading". But this is one of my alltime favorite poems. I have used it during difficult times, and it helps restore a sense of balance.

But perhaps it's a little "sexist" at the end, for this day and age . . .

Hi Leighsww,

No matter, don't feel bad , I know you meant well, to kick some of the traders to listen carefully.
In its own, I guess, It does serve a purpose. Only that now I feel like "I am the king of the mountain." I am afraid that it may get to my head.

The truth is, I wanted the pple to decipher, if what I said was true, without reference to who I was, thats speaking. To accept the truth, knowing what or who i was , may just allow them the mindset to accept blindly.To question and understand the truth, that would be gold.

So no more cheerleading from you? How sad.
OK to bribe you, how's about another good trade? LOL

regards

PS:oops, I didn'tmean bribe as in bribe, I meant sweeten your feelings.
Ahh, bad position, damage control.

LOL, no bribery necessary, but sheesh, you don't know how you scared the heck out of me just now. One thing I hold dearest to my heart is my integrity, so when I thought I had compromised that, I almost wanted to cry!

You know, I have in the past, stood up to all kinds of odds because of holding steadfast to my integrity, so please don't ever do that to me again! http://leighswishingwell.com/lp/emotes/whip.gif

Hi leighsww,


So sorry, my bad.
Ouch, ouch, ouch

regards

Hmmmm... well I for one feel a little ... teased.

I don't doubt your massive superiority to us little guys, fti, and I'm sure your super-trader status is beyond question. But I still feel like you're perhaps getting more pleasure from the process of goading us with old parables than you would be from just illuminating simple realities as they relate to trading?

It's not your job to teach me and I don't expect anything from anyone, but your opening line for this thread did promise "no mentor, or course, or literiture can give anyone the holy grail to the secrets of success in trading in the markets... Nevertheless, I will humbly attempt."

I'm all ears. But is there more to it than 'hey suckers, it's a bloody battle you're walking into' (my paraphrasing)? 'cos I, for one, have worked that one out already

Edit: As it is indeed a bloody battle, I need to learn the specific coping skills and the appropriate combat techniques I'm actually going to use. I'm not looking for a holy grail or a signals service or even a "system". Going in with my eyes wide open is only part of the equation — all that means is I'll actually see the sword that slays me... Let's get charts posted and look at real trading days. Let's discuss specifics and actual case histories?

I'm just wondering why everyone has to be so cryptic with their teaching? Hell, if I knew some worthwhile stuff (that was actually different to all the truisms that have been slogged to death in every trading book and forum out there), I'd lay them out in big red letters at the beginning of the thread and invite discussion from there...

I'm not ranting cos I think I know everything already, I'm ranting precisely because I know that I don't. So, can we open the "Top Secret" dossier already and get to do some real homework?

Respectfully.
(though I'm sure it comes across as otherwise, given the nature of the written word...)

Hi leighsww,
No bribes, here's something to sweeten for you.

Hiroko Kokubu & Kiyotsugu Amano - Etude (album Heaven)
Hiroko Kokubu & Kiyotsugu Amano - Perfidia (album Heaven & Beyond)
Katie Melua - If You Were A Sailboat ( Album Pictures)
Katie Melua - Nine million Bicycles

regards

I can also see "right mind set" lessons in it for traders. Like not seeking revenge against the market for a loss, and not getting overly elated after winning.

fiveshorts ... everything has a lesson to be learned here. When it sounds too cryptic, then ask and have him explain clearer.

If you don't ask, then whose fault is that?

He has a purpose to how he trains. Maybe you need to look at why you are getting so upset and losing patience.

Patience was one of the lessons here, read back on this thread carefully and maybe things may become more apparent.

When he first posted to feb's thread, I could not understand more than half of what he was talking about, but now learning more and more through this thread, his words are a lot clearer to me. And if they aren't, I question.

I suggest you do the same for anything that you haven't understood at this point. He has said that he was building the foundation before he can go forward as it is needed for us to survive, to have success.

I am going to be honest with you for your own good ... you have not learned much from this thread, because your impatience and irritation has shown clear through with that. This will have an affect on your trading, so I recommend that you start at the beginning and read everything again and again until you have understood the lessons he has so far tried to share with us.

Equilibrium and focus also come to mind . . .

There is a consumer profile in this business called "The Holy Grail Chaser."

This person will jump from one system to the next searching for that 80%+ hit rate every day while taking eight trades a day, because they need action and action equals profitability, especially when leveraged. They are looking for that straight up rules based step by step system that if "a" is followed by "b" and then "c", you "take the trade every time, the numbers will be favorable and you will walk away with a profit over time." That simply does not work.

The market dynamics can and will shift discretely and so will the probability continuum of the criteria you have set. They can and will change forever, i have seen it countless times in the many years i have managed fx funds. Check out the book titled "Face the Trader Within" and read the section on "The Probability Continuum"

Holy Grail Chasers also love to pass blame for their failure. Whether or not the trainer is qualified is another story, because a trainer can be legit, but still get heat for not giving up a Holy Grail. Look, success in this business is the same as any other business. Only a certain percentage will make large sums. How many people would like to be a doctor? How many make it? How many successful restaurants do you see vs the number that fail. How many persons graduate from engineering? How many make large incomes?... the business owners do!

The best way to succeed in this business is to acquire market knowledge in all aspects. Here is a good place to gain resources and get a feel for what agrees with your temperament. Understand the fundamentals even if you are a TA, it will help you find more trades.

I could file a tremendous list of the characteristics of a Holy Grail chaser, but I have to go. One final word of warning. If you are a combination of a Holy Grail Chaser and love to make a lot of trades in a session/day, be careful, cuz you may have a costly learning experience

Houdini

I have one more thing to say, lol ... he came here not even wanting to post his knowledge to this extent, because he actually came here to find info about brokers, lol.

I coaxed him into starting a thread, but I know that this is costing him a lot of his valuable time, effort and energy.

Look at how many posts (not to mention PMs) he has to do to continue and complete our training, so-to-speak. I do not envy what his tasks are to accomplish this. He has gone through this much easier when he was able to do this live, face-to-face with his dealer students. He even had a secretary previously, so to have to type out all these posts by himself is a chore, quite frankly!

Yes, he gains pleasure in helping others, everyone does. Contributions are not a selfless reward, but it's a charitable one, nonetheless.

I hope that we can all here appreciate just how much he has given us. Otherwise, best we stay out if we cannot contribute any good karma.

Sorry, but this is that tough-love I was talking about, lol

Hi Pips_Cruiser,

You are wise. there within "IF", are great lessons about life and living.
Unfortunately, these can only be recognised when one comes into its fold. ( level)

Have it as reference, is the already the guilding light for the journey.
I am glad that you are in it.

regards

I do howerver have a version , the fti version of desiderata, with most of the this stuff in there.
I'll give it to you ppl , at the end, God willing.