Hope isn't a viable investment vehicle.
Technical Analysis Fallacy
- #2,762
- Edited 6:40am May 21, 2008 6:23am | Edited 6:40am
- | Joined Feb 2006 | Status: adjust your sails to the wind | 1,354 Posts
Hi piccolo,
If you may like to start a journal of your MO, I may be enlightened as to your motivation and MO. Offhand I believe your MO is oto.
regards
OK, I will just shut up. My MO is under development and not written in stone.
I am just experimenting and training myself:
- not to take losses (manage the way out of them)
- to take dead in water losses
- aim small, better 5x 30 pips than wait for the 150 home run which could take a week or more on eurusd.
- to be swift in doing so
nothing kills the mood more than a TP missed by one pip. this is my new enemy.
- #2,763
- May 21, 2008 6:55am May 21, 2008 6:55am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
hi fti,
OK, I will just shut up. My MO is under development and not written in stone.
I am just experimenting and training myself:
- not to take losses (manage the way out of them)
- to take dead in water losses
- aim small, better 5x 30 pips than wait for the 150 home run which could take a week or more on eurusd.
- to be swift in doing so
nothing kills the mood more than a TP missed by one pip. this is my new enemy.
In actual fact, you don't have to shut up as you suggested.
I actually found your creativity interesting.only that I was afraid that you would run into a wall, doing what you do.
I figured that you are automating the decision process.
1. as suggested by your call sign descriptor.
2. That you are handling 19 pairs at a go.
3. Your take profit being uniform.
Further you describe to Lusan, that you could go to 100X of base, so you are stockist. ie behaving close to bank MO.
That which really stands out is that with 19 pairs , its impossible to dance.
Unless there is choreography. thats where I suggested rigidity.
Initially I felt you were quite easy going, but you seem to be getting agitated with people probing you, why, what's happening.
Probing is something ppl on the internet does, until they get to know each other better. Guess what me and leighsww went thru to bring my messages to those here.
So why are you getting agitated, anyone hit a sensitive vein? All Lusan was doing was to try to help you with some thoughts.And me too, trying to figure you out to help you if I can.
Lighten up , buddy, I hope is not after effects of dancing 19 partners, easy, breath, relax.LOL
regards
- #2,764
- May 21, 2008 7:23am May 21, 2008 7:23am
- | Joined Feb 2006 | Status: adjust your sails to the wind | 1,354 Posts
- #2,765
- May 21, 2008 7:54am May 21, 2008 7:54am
- Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts
- #2,766
- May 21, 2008 9:43am May 21, 2008 9:43am
- Joined Feb 2008 | Status: Cartographer | 1,981 Posts
OK, here is an illustration of my money management.
Still friend?
Empty as water and soft as a facing wind mountain
- #2,767
- May 21, 2008 10:26am May 21, 2008 10:26am
- | Joined Feb 2006 | Status: adjust your sails to the wind | 1,354 Posts
Initially I felt you were quite easy going, but you seem to be getting agitated with people probing you, why, what's happening.
I love it!!!!!!!!!!!!!
Still friend?
Don't worry, maybe I was a little emotional yesterday. Didn't want to hurt anyone and no harm taken. No worries, let's keep up the fun.I figured that you are automating the decision process.
1. as suggested by your call sign descriptor.
2. That you are handling 19 pairs at a go.
3. Your take profit being uniform.
Further you describe to Lusan, that you could go to 100X of base, so you are stockist. ie behaving close to bank MO.
2. 19 pairs was just an experiment to put myself in the middle of the battlefield to see if I get scared and to see if I can get out. It is not my MO. Lesson learned.
3. Not really, I am happy when I get out at both +120 and +6 depending on price action and the feeling. +30 is more like a comfort zone. So I don't limit myself with an exact pip number but sometimes I do put TP levels up where I think it could reverse or pull back. Usually I can re-enter again at a better price.
fti, you once said in a post "if you are bear, stay bear". this has helped me a lot. even if the intraday trend goes against me, I rather plan and execute the rescue than switch back and forth bull/bear/bull/bear.
dont know who said this first but its a quote from someone:
you put 2 newbie traders in a room and ask one to go short and one to go long on the same pair at the same time and they will both end up with a loss. you put 2 professional traders in the room and ask to do the same and they will both end up in profit.
I am no professional trader but having this in mind and everything else I have learned over the 3 years of forex trading, I feel like I am improving and slowly getting rid of the fear and greed. Just driving or dancing.
Moving from the double loss (newbie) to the double win side (pro).
- #2,770
- May 21, 2008 3:42pm May 21, 2008 3:42pm
- Joined Feb 2008 | Status: Cartographer | 1,981 Posts
Hi,
Besides the experience, how can we improve the timing?
The reading of the candles in 5 min time frame
it doesn't seem very reliable. Or I don't know how to read them...
Suggestions are welcome.
Thanks in advance.
Textor
What am I saying?
PA is way to fast on the 5M and candles do not help me much...
I think you must dance and find your own way of doing it...find your own steps...the only way of learning to swim is by doing it...
my 2 cents.
Empty as water and soft as a facing wind mountain
- #2,771
- May 21, 2008 3:49pm May 21, 2008 3:49pm
- Joined Feb 2008 | Status: Cartographer | 1,981 Posts
Textor,
I will probabley get whipped for this.
BabeFX
Any way, are these standard deviations or fibo bands? why do you need such a thing? I thought that PA was our queen....as far as I concerned we have our best indicator...OUR BRAINS....dancing will train the brain to listen to PA and to take action...timing will happens on its own...dance, dance, dance...that is all.
you are in trouble....the chief will not be happy
...run...run...runEnjoy...
Empty as water and soft as a facing wind mountain
- #2,772
- May 21, 2008 4:23pm May 21, 2008 4:23pm
Textor...I found 5M candles to be useless...1D candles are fine, but then you only have to see the actual trend to know the main trend direction...but that is not to helpfull...the best way?....get a demo account and practice the dance...at the beginning you will find yourself losing a lot, but eventually you will begin to hear the music...and the timing will get better...that has been my experience...I am still learning and developing fti's ideas...I suspect that he gave us just enough for each of us to find our own way adapted to our own psychology.
What am I saying?
PA is way to fast on the 5M and candles do not help me much...
I think you must dance and find your own way of doing it...find your own steps...the only way of learning to swim is by doing it...
my 2 cents.
Yes, there are not shortcuts... but very often my timing
forces me to rescue my scout constantly...
I enter in the correct trend, but in bad timing...
The candles in 5 TF I find not reliable, but the indicators are
even less reliable.
... I will get more experience.... I hope it will be not very expensive....
Regards,
Textor
- #2,773
- May 21, 2008 4:54pm May 21, 2008 4:54pm
- Joined Feb 2008 | Status: Cartographer | 1,981 Posts
Empty as water and soft as a facing wind mountain
- #2,776
- May 21, 2008 6:00pm May 21, 2008 6:00pm
- Joined Feb 2008 | Status: Cartographer | 1,981 Posts
Empty as water and soft as a facing wind mountain
- #2,778
- Edited 8:52pm May 21, 2008 7:52pm | Edited 8:52pm
- Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts
- #2,779
- Edited 10:55pm May 21, 2008 9:24pm | Edited 10:55pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Hi ALL,
@ picolo
There, I was right, much of the same, but then there's something thats very different. You are gutsy and have speed. Things any good dealer, must have, and what every burnt out dealer wish they still have.
Your quote is true and correct but I don't remember saying that in FF.
Keep us posted on your experiments, very interesting, there's an itcy here somewhere , but I can't manage to scratch it yet. I am sure the gang here will help me find that spot,
@ textor,
well beside expeience in reading market form, attention to less of multiple indicators and the same that confuses you will certainly help in your timing.
Ponder this, I hope its appropriate analogy.
If you sat at the table having dinner with your family. And a pretty young thing comes along and invites you to fun on the dance floor,
what will happen if you went consulting your dad , mom, brothers, sisters before taking action?? Yes, you are likely gonna lose the window of opportunity. :nerd:
on the same token, (the reliability of the form reads)
If there were 7 pretty girls in a huddle, whats the chance that you may get enough hints from the bits and pieces that you may get from them individually, to be able to figure out where they are going??
Think about it.
Oh don't worry about the whip, Leighsww 's the one that like to use it.
Me, I just take the concubines heads off if they are bad. By the way , where she??
regards
And just because the girls hinted that they are not going to the ball, and are at the salons, doesn't mean they are not going, its just not going NOW.
I used to have a booklet by the title "Gas station and Cathedrals" a strong thought came from there. Someone stole it, and Its been too long that I cannot remember the story to relate it to you.
@ picolo
There, I was right, much of the same, but then there's something thats very different. You are gutsy and have speed. Things any good dealer, must have, and what every burnt out dealer wish they still have.
Your quote is true and correct but I don't remember saying that in FF.
Keep us posted on your experiments, very interesting, there's an itcy here somewhere , but I can't manage to scratch it yet. I am sure the gang here will help me find that spot,
@ textor,
well beside expeience in reading market form, attention to less of multiple indicators and the same that confuses you will certainly help in your timing.
Ponder this, I hope its appropriate analogy.
If you sat at the table having dinner with your family. And a pretty young thing comes along and invites you to fun on the dance floor,
what will happen if you went consulting your dad , mom, brothers, sisters before taking action?? Yes, you are likely gonna lose the window of opportunity. :nerd:on the same token, (the reliability of the form reads)
If there were 7 pretty girls in a huddle, whats the chance that you may get enough hints from the bits and pieces that you may get from them individually, to be able to figure out where they are going??
Think about it.
Oh don't worry about the whip, Leighsww 's the one that like to use it.
Me, I just take the concubines heads off if they are bad. By the way , where she??
regards
And just because the girls hinted that they are not going to the ball, and are at the salons, doesn't mean they are not going, its just not going NOW.
I used to have a booklet by the title "Gas station and Cathedrals" a strong thought came from there. Someone stole it, and Its been too long that I cannot remember the story to relate it to you.
- #2,780
- Edited 10:59pm May 21, 2008 10:37pm | Edited 10:59pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts