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  • #721
  • Jan 3, 2008 8:26am Jan 3, 2008 8:26am
Welcome back, FTI! It's great to see the thread getting some posts again

Cheers!
  • #722
  • Jan 3, 2008 12:43pm Jan 3, 2008 12:43pm
Hi Fti and others,
This is my first post in FF. This the only thread I have read from start to finish. Great job guys. Thanks Fti and others for the valuable information you provide here.
- WaveRider3
  • #723
  • Edited Jan 5, 2008 7:29am Jan 4, 2008 4:44pm | Edited Jan 5, 2008 7:29am
fti, thanks for starting this positive thread for learning and all those who put the effort to keep it that way.
One of the things that really give me hope is the education to trade without the indicators and tools. You see ,because of the economic down turn construction stopped and so did the income. So, for some reason I believe this is how I will support the family.( I guess I seen the potential of forex when I did a stupid thing and gave a man by the name of Blake Prater and a couple others 90% of my life savings because they can give me great returns)btw Blakes doing 11 years in Conneticut. So, with 10% left,even though it is very difficult once I develope a method or "the art of trading" I believe it is going to be alot easier and I believe from what has been discussed briefly on this thread, if it were to continue a year from now any noob could develop into a responsible trader, and I will be one of them.
For the past year I've been looking at posts, charts I don't think I'm smart enough to use tools, etc. but I'm smart enough to learn how to dance naked and this instruction is the missing lesson thats needed.
I managed to lose half of the 10% but 5%% is left and the good news is I"ve reached a level where I'm not losing or gaining, I hope to be able to get to the next level. I look forward to future posts, in the meantime I'm going to reread the existing ones as my mind is not a sponge more like a strainer I have to read something more than once to get the sense of it.
May we all have a good year.
  • #724
  • Jan 5, 2008 1:53am Jan 5, 2008 1:53am
Welcome back fti,

Wishing you and all of FF a Happy and Prosperous New Year.
trading naked.......
  • #725
  • Jan 5, 2008 4:41am Jan 5, 2008 4:41am
I thought I'd take a peek at this thread, and I saw this:

Quoting fti
Leonardo Da vincci who fostered the fabonacci principles,
After seeing this I'm not sure I'm motivated to read the other 40+ pages, but I do hope you've since corrected yourself.
  • #726
  • Jan 5, 2008 7:56am Jan 5, 2008 7:56am
He said fostered, not created. Leonardo Da Vinci used some of the Fibonacci principles in his artwork...

fos·ter http://cache.lexico.com/g/d/premium.gif http://cache.lexico.com/dictionary/g...una/thinsp.pnghttp://cache.lexico.com/g/d/speaker.gif /ˈfɔhttp://cache.lexico.com/dictionary/g...una/thinsp.pngstər, ˈfɒshttp://cache.lexico.com/dictionary/g...una/thinsp.pngtər/ Pronunciation Key - Show Spelled Pronunciation[faw-ster, fos-ter] Pronunciation Key - Show IPA Pronunciation
–verb (used with object) 1.to promote the growth or development of; further; encourage: to foster new ideas. 2.to bring up, raise, or rear, as a foster child. 3.to care for or cherish. 4.British. to place (a child) in a foster home. 5.Obsolete. to feed or nourish.

I would say that #1 covers it!


D.


Quoting Pip Hunter E
I thought I'd take a peek at this thread, and I saw this:



After seeing this I'm not sure I'm motivated to read the other 40+ pages, but I do hope you've since corrected yourself.
  • #727
  • Jan 5, 2008 1:03pm Jan 5, 2008 1:03pm
Hi Fti

Came across your thread yesterday and I haven't stop reading it since. Fascinating stuff and so much wisdom.
Hope you had a good vacation and back afreshed and rejuvenated to give us more of your insights and guidance.

Regards,
Lee
  • #728
  • Jan 5, 2008 10:21pm Jan 5, 2008 10:21pm
Quoting fti
Hi ALL,
@ Zoran,
In respond to post 235

I hope you are clear about that GBP/JPY is actually a spot GBP/USD cross with the spot USD/JPY. There exist no such spot market in the interbank. Its is a cross of two Majors.
If still unclear read #233 again and see if you can understand. In Leighsww accurate words, a cross pair.

Cross pairs (thanks to Leighsww) are normally very dormant, but when they tear, its very wild and swift. OK, we leave that, at that. Just wanted to tell you about the pairs Nature.

----
*********************************************
Hello fti,

I have come across this thread lately and after reading the above post I I'd like to as you a question. Does it mean that GBP/JPY is a totally artificial pair and only available at the retail level? That would explain the high spreads by the way (retail brokers must love the G/J traders). But what I really want to now is if any kind of analysis (esepecially TA) related to GBP/JPY in isolation makes any sense at all, since it is a result of a multiplication of the cable and theyen (GBP/USD X USD/JPY = GBP/JPY).
P.S.
What is the case with EUR/JPY? Is it available in the spot interbank market?
  • #729
  • Jan 5, 2008 10:52pm Jan 5, 2008 10:52pm
The only yen pair that is not a cross is the usd/jpy. People with large sums of money take a loan from Japan for a very low interest rate buy usd, then they will sell the usd and buy (invest) in a higher paying interest curreny then the yen of their choosing. Those small ripples you see in the gbp/usd and euro/usd during the asian session are in large part due to this.
  • #730
  • Jan 6, 2008 1:57am Jan 6, 2008 1:57am
Quoting lilpip
fti, thanks for starting this positive thread for learning and all those who put the effort to keep it that way.
One of the things that really give me hope is the education to trade without the indicators and tools. You see ,because of the economic down turn construction stopped and so did the income. So, for some reason I believe this is how I will support the family.( I guess I seen the potential of forex when I did a stupid thing and gave a man by the name of Blake Prater and a couple others 90% of my life savings because they can give me great returns)btw Blakes doing 11 years in Conneticut. So, with 10% left,even though it is very difficult once I develope a method or "the art of trading" I believe it is going to be alot easier and I believe from what has been discussed briefly on this thread, if it were to continue a year from now any noob could develop into a responsible trader, and I will be one of them.
For the past year I've been looking at posts, charts I don't think I'm smart enough to use tools, etc. but I'm smart enough to learn how to dance naked and this instruction is the missing lesson thats needed.
I managed to lose half of the 10% but 5%% is left and the good news is I"ve reached a level where I'm not losing or gaining, I hope to be able to get to the next level. I look forward to future posts, in the meantime I'm going to reread the existing ones as my mind is not a sponge more like a strainer I have to read something more than once to get the sense of it.
May we all have a good year.

I wish you the best, but from what I can judge you should stop spending your money on the things you do not understand. Why don't open a demo account, to be (at least) sure that you know what you are doing. Or go to the previous Jacko's thread and day by day look how he was trading and what market really was doing at the time. You'd get a broader picture... now you sound desperate as a child "I believe you daddy and I do whatever you say" - this is a good thread, but not the one that comes from God or to preach about. Don't you have any obligations to your family?

Stop whatever you are doing with the money left, and learn about the market you are dealing with, then trade the bread of your children (or even better - never do it).

My best wishes for 2008!
  • #731
  • Jan 6, 2008 5:33am Jan 6, 2008 5:33am
Quoting Argonaut
*********************************************
Hello fti,

I have come across this thread lately and after reading the above post I I'd like to as you a question. Does it mean that GBP/JPY is a totally artificial pair and only available at the retail level? That would explain the high spreads by the way (retail brokers must love the G/J traders). But what I really want to now is if any kind of analysis (esepecially TA) related to GBP/JPY in isolation makes any sense at all, since it is a result of a multiplication of the cable and theyen (GBP/USD X USD/JPY = GBP/JPY).
P.S.
What is the case with EUR/JPY? Is it available in the spot interbank market?
Hi Argonaut

A currency-cross is any currency pair in which the US Dollar is neither the base nor the counter currency. You can create your own synthetic pairs by buying or selling dollar pairs. ie if you bought GBP/USD and bought USD/jpy
you would be trading GBP/JPY.
Hope isn't a viable investment vehicle.
  • #732
  • Jan 6, 2008 3:46pm Jan 6, 2008 3:46pm
Quoting lietuve
I wish you the best, but from what I can judge you should stop spending your money on the things you do not understand. Why don't open a demo account, to be (at least) sure that you know what you are doing. Or go to the previous Jacko's thread and day by day look how he was trading and what market really was doing at the time. You'd get a broader picture... now you sound desperate as a child "I believe you daddy and I do whatever you say" - this is a good thread, but not the one that comes from God or to preach about. Don't you have any obligations to your family?

Stop whatever you are doing with the money left, and learn about the market you are dealing with, then trade the bread of your children (or even better - never do it).

My best wishes for 2008!
I agree, fti thread isn't one to learn forex as a method of earning monthly income. (at least not yet that I can see) to me it's more of a realization of how markets work and the psychological toughness required to be successful in forex.

lilpip (this is just my opinion) you should read all of the following......James16, feb2865, Jacko, and Skunny threads.
trading naked.......
  • #733
  • Jan 6, 2008 4:25pm Jan 6, 2008 4:25pm
Quoting lietuve
I wish you the best, but from what I can judge you should stop spending your money on the things you do not understand. Why don't open a demo account, to be (at least) sure that you know what you are doing. Or go to the previous Jacko's thread and day by day look how he was trading and what market really was doing at the time. You'd get a broader picture... now you sound desperate as a child "I believe you daddy and I do whatever you say" - this is a good thread, but not the one that comes from God or to preach about. Don't you have any obligations to your family?

Stop whatever you are doing with the money left, and learn about the market you are dealing with, then trade the bread of your children (or even better - never do it).

My best wishes for 2008!
lietuve,
I appreciate your thoughts, I will look into jackos thread. With my one step forward and one back I've been watching price over the past year trying to get a feel for it and understand it,thats why I'm here. Lietuve , sometimes in education its good to be like that young child, eager,willing to learn and follow along. I guess you misunderstood my enthusiasm for desperation.
You see what caught my eye on this thread is working the market with no indicators which I'm not used to any. Also, fti mentioning the market is alive. I often felt as I traded, I need to feel the heartbeat to become as one with the market and dismissed it as a weird thought. fti can help to me come out of the closet so to speak, develope that feel for the markets dance and yes I'm excited as a kid because where else in ff is this being taught? And yes I believe he is one of the best teachers at ff and from what I hear a better trader than a teacher.
I'm reducing to a 5 min chart which I know will improve my profits as I look back . Also, we have books to read , Paper Money , All about fx market in USA, Art of War to start with.
I do have a couple questions I must have missed some things, anyone, feel free to respond.
post# 46 thoughts on price as an indicator,speed,volitility,time.
Post# 69 please explain be aware of overnight positions are only a fraction of the daylight management?
post#178 when position is established elaborate on probing to find time window or opening.
May we all have a good week.
  • #734
  • Jan 6, 2008 4:29pm Jan 6, 2008 4:29pm
Quoting piphitman
I agree, fti thread isn't one to learn forex as a method of earning monthly income. (at least not yet that I can see) to me it's more of a realization of how markets work and the psychological toughness required to be successful in forex.

lilpip (this is just my opinion) you should read all of the following......James16, feb2865, Jacko, and Skunny threads.
thanks, will do
  • #735
  • Jan 6, 2008 5:02pm Jan 6, 2008 5:02pm
Hi lilpip,

It might be a good idea for you to read "Fooled By Randomness" by Taleb.
Trading off a 5 min TF can be done, but it's risky. Taleb would say that those showing profit off such a small TF are just lucky. However, it is a good place to find an entry for a trade. There are a couple newer trading systems at FF that implement a 5 min but only as confirmation from a 4 hr and 1 hr TF. One is called 3 ducks - great for new or old traders (an excellent thread in which I've seen good results). The other that uses a 5 min for entry is called EMA 25-50 trading system. Demo them and lay a foundation so that you can learn the discipline that must preceed the dance fti talks about. No one just walks out on a dance floor without first taking a few lessons. (Well, almost no one.)

Best Regards, ASYI
  • #736
  • Jan 7, 2008 2:50am Jan 7, 2008 2:50am
Hi ALL,

I'll continue with answering as many questions raised here during my vacation,

and follow up on the Su Zi education, since Leighsww has not covered that section of training and then into the MM & sp,,,, if suits.

regards
  • #737
  • Edited 7:15am Jan 7, 2008 3:01am | Edited 7:15am
Quoting fti
Hi ALL,

I'll continue with answering as many questions raised here during my vacation,

and follow up on the Su Zi education, since Leighsww has not covered that section of training and then into the MM & sp,,,, if suits.

regards
Hi fti,

Just want to thank you again and let you know that your teaching has made a dramatic change on how I deal with the market, if I still have not danced well with it. Now I am getting better to see what's going on without any indicators, and even MAs. Though I still draw some trendlines to help my analysis, but I try to remind myself your teaching not to let the trendlines to block my thinkings.
  • #738
  • Jan 7, 2008 3:27am Jan 7, 2008 3:27am
Quoting sitoca
Actually, I assume that every trade I entered is wrong until proven correct by the market hence I always trade defensively with lots of babysitting (monitoring).
In re[ly to #633
Thats the correct and most realistic stance to take, as a trader.
So if this was your mindset, what should your MM look like?
The answer to this question should carry you to the MM strategies for prudent trading. Doesn't it?

Quoting sitoca
Why not trade the currencies futures since you have done that before with the bank? Are you worried about the slippage?
Slippage is the least of my worries using the structured nature of futures FX markets . My major concerns are.

1. The liquidity of the markets.
Be aware that the bank, traded as liquidity provider to our futures desk who are corp members of the exchanges. So in reality I was privy to the true liqudity of these markets and I am not talking about general volume alone.

2. The non 24 hrs nature of the fx futures markets also will mean that part of market action will not be avail to you as a trader. This would restrict your markets access depending on your domicile of operation.

3. The cost of clearing trades and brokerage, as a non exchange members will prove to be the achilles heel for active trading.

regards
  • #739
  • Jan 7, 2008 3:54am Jan 7, 2008 3:54am
Quoting sitoca
Hi Fti,

You mentioned that market makers move markets for various reasons such as stops sweeping....etc

From your experience or knowledge, what is the largest move in pips that is artificially created by them?


When is the period of lowest liquidity which makes it extremely easy for them to do it?

Is it true that liquidity tends to dry up during the Summer as well as in Dec - (think you have explained the Dec one before) ?

regards,
I think you may have mis-understood.
My mentioning of marketmakers sweeps is not to imply that this is done to manipulate the markets.
Be clear, that, the function of marketmakers is to provide liquidity.
ie. providing the market at large , with a price to buy and sell , at all times, while under his watch.

To carry out this function, he would have to use the sweeps to create market movement and to create liquidity to extend the swings, seeking out price levels of least resistance.

Marketmakers do not create artificial pip moves, where-ever they move towards, thats where the market is.
Remember that they drag along a ball and chain of a tail of 2 to 5 pips where-ever they go, which can be targeted by the market participants. So there is no possibilities to make a market where its not.

But problem arises when unscrupulous non marketmakers start to quote the screen of spot interbank Forex ( reuters ASAP), without the intension to deal at the quoted levels. ( their intensions are ??? ) but some are truly fatfingured typos not captured by the system filters. The marketmakers knows who are the true markets and ignore these wannabes and typos, as they can see "name". The price put up by an insignifivant party like db woud be ignored altogether but the data streams that collect the info cannot tell the real from the err. so you make your own conclusions on the reliability of your data stream.

Liquidity is not the thrust factor of the directional sweeps of a marketmaker.
The thrust factor in market movement is predominantly the cluster size of stops and the trail of ("self-feeding") stops triggering.
New supply of trades entering the arena that the initial thrust may create makes it a wildcard at best. No one can knows before hand, of how the sweeps may pan-out. Although marketmakers may have a small scope of forward sight as alike the headlights of a car travelling at night.

The basic consequense that liquidity may play in these scenarios, is in the slippage of the fills that the customers orders will be filled at. This is due to the ability/inability of the corp-desk dealers/brokers, in their ability to hit, fast moving marketmakers.

I hope this clears some issues for you.

regards
  • #740
  • Edited 4:36am Jan 7, 2008 4:11am | Edited 4:36am
@ Green_David

Thanks, my friend for your praises.
Fearing that I may be blowing my trumpet too loud,
but I used to be with the cream de la cream of the business.
Now but just a burnt-out candle.
When a trader travels thru this Quest, they' ll undestand.
Was nice that you saw the hints.
Be mindful that you just rode the 1st loop of his rollercoaster ride, more a coming.

Just a little help since you are on the markets live. The fundamental backdrop has not changed signifiv=cantly since dec 07, what is evident is that many Cbs are at, the defend the dollar front, due to vested interest in the oil prices. (Oil is traded in USD) So look for continued trend in USD weakness, but look out for the CB lurking in the markets. They are operating in stealth mode so be nimble. Move like the wind, don't be sitting ducks.

@ MickD
You seem to be getting close to the working theoriticals of the training.
You need more hands on practise , the more practise you get the clearer it will become.

@ sizzler
You got the dollar cost averaging correct.
The surgical way of doing it, I direct you to what Green David said in thread 698 reqouted below

Quoting Green_David
Dear Zoran, MickD and Syres,

Thank you for keep this thread alive before fti continues teaching.

As for loss rescue, fti suggests two methods:

1. If the position was desirable, then more capital will have to be put at risk
and a rescue of the badly timed position must be effected.
2. If any mitigating factors, disallows for such to be effected, the trader should
bite the bullet, and put the position out of its misery,
until it may be advantages to reinstate.
No other subjective thoughts must enter to his mind to hamper the managing of the position.
(Please see post#179)


So snowballing is only one alternative.

I will cut loss if I am trading against the daily trend AND the hope of retracement to rescue some loss impossible. Because that trade is not a wrong timing, it is wrong direction! In such case, snowballing loss can potentiallly become loss-averaging, which is a bad speculation practice.

Just my 2 pips.

David
Learn to be able to distuinguish between a wrongly timed trade and an ego trade. Please do not misaken that the ego trades are intentional, to understand that reread the scorpion and turtle story.

regards
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