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Technical Analysis Fallacy

  • #3,161
  • Jul 8, 2008 9:50am Jul 8, 2008 9:50am
Quoting deanh
Hi all,

I've been reading through the 200+ pages for the past few days. I'd like to thank fti and all the contributors for such a brilliant thread.

I'm new to the world of forex, with my studying only beginning a couple of weeks back. Having read numerous threads on multiple forums proposing the next big system to have me making 1000 pips by the end of the week; it was refreshing to stumble upon a thread such as this.

From just reading the first few posts, the things said by fti make perfect sense to me, in such that they ring true on a personal level... on how I'd think of myself approaching trading and the kind of trader I want to become.

Unfortunately due to work, I'll probably be only able to trade forex from 8pm-1am gmt, which is kind of limiting if I hope to trade true to fti's methodology.

I'm only trading demo at the moment (and will be for a few months yet) but I'd like to join in the fun and participate in this thread if that's no problem

Regards,
Dean
Hi Dean,

welcome to the thread.
As I always advocated , if there are questions always ask.
The answers are hopefully somewhere in here.

Other wise cordial discussion will uncover that need to be understood.
It is important to progress slowly , understanding each step forward.
Do study with much thought, and practise to get complete perspective.

regards
  • #3,162
  • Jul 8, 2008 10:00am Jul 8, 2008 10:00am
Quoting joypips
fti

still searching for info on 'hip and lop' patterns that you mentioned very early in the thread, no luck as yet can you please help ?

btw lucky bid on ebay today for 'paper money' can't wait to read it, but will be several weeks as i am in australia.

many thanks for all your pearls of wisdom and generous sharing of your knowledge

joy
Hi joypips,

I regret that I shall not be able to discuss "hips and lops" on a public forum , for respect and professional courtesy to Welles Wilders. But I can tellnyou that it is abrivation for high point and low point which is a basic technique in chart reading and methodology. In its basic , it is of no grave importance. However if you have working knowledge of it, it can enhance your timing , if you are out of step with market rhythm.

I hope that reading paper money may enhance your understanding of the market and its structure.

regards.
  • #3,163
  • Edited 2:57pm Jul 8, 2008 10:12am | Edited 2:57pm
Hi All,
Its been trying times into the july celebrations , utimately it looks like the USD bears are on top, nevertheless many bears are bloodied too. In my opinion seems many dead pig carcuses all over the place. Stay to reading market dance closely, stay nimble always . Be trendy, stay with whats current that is evolving, no one can say for sure. You have to dance , for now quick step is best.

Remember your training, efficiency of performance is dependent on the mix of ingredience of Analysis,MO,MM,and Captalisation. There is no magic bullet. This is scary terrain we are in now, dance well, stay alive.

Rule 1 Capital preservation.
Rule 2 Capital preservation.
Rule 3 Do not forget rule 1.

regards

Again
Inserted Video

www.youtube.com/watch?v=jyI2tX6UCKo

Flow like a river.
Inserted Video
  • #3,164
  • Jul 8, 2008 10:35am Jul 8, 2008 10:35am
Capital preservation actually happens when you have a good Risk Reward Ratio embeded to your system... risking too much for a small reward potenciall its not a good bussiness... oposite is the key, risking a little for a great potencial on your trade... cheers Walter.
{Promotion Removed}
  • #3,165
  • Jul 8, 2008 10:52am Jul 8, 2008 10:52am
Quoting fti
Hi All,
Its been trying times into the july celebrations , utimately it looks like the USD bears are on top, nevertheless many bears are bloodied too. In my opinion seems many dead pig carcuses all over the place. Stay to reading market dance closely, stay nimble always . Be trendy, stay with whats current that is evolving, no one can say for sure. You have to dance , for now quick step is best.

Remember your training, efficiency of performance is dependent on the mix of ingredience of Analysis,MO,MM,and Captalisation. There is no magic bullet. This is scary terrain we are in now, dance well, stay alive.

Rule 1 Capital preservation.
Rule 2 Capital preservation.
Rule 3 Do not forget rule 1.

regards

Again
http://www.youtube.com/watch?v=TApBbC-MpEo&fmt=18
www.youtube.com/watch?v=jyI2tX6UCKo

Flow like a river.
http://www.youtube.com/watch?v=i3YVI4HChIo
thanks for the reminder to keep us in check.
Is support for long dance out of 5660 crumbling this morning ?
Just a retorical question.
Might be looking at a short dance south. No pun intended.
  • #3,166
  • Jul 8, 2008 10:54am Jul 8, 2008 10:54am
Quoting walterw
Capital preservation actually happens when you have a good Risk Reward Ratio embeded to your system... risking too much for a small reward potenciall its not a good bussiness... oposite is the key, risking a little for a great potencial on your trade... cheers Walter.
Hi,
If you read the thread carefully, practise the required mix required for trading.
You may learn to stay alife in the market. And thats all you will need to have a good R/R ratio automatically. Focus on R/R only makes you rigid. For me its non ingredient required for trading success. Its a little reward for masterful mindset.

In life and trading, if you keep looking for the ideal, you may end up single all your life. There is no system (magic bullet) , its all you.

regards
  • #3,167
  • Jul 8, 2008 11:51am Jul 8, 2008 11:51am
Quoting lilpip
thanks for the reminder to keep us in check.
Is support for long dance out of 5660 crumbling this morning ?
Just a retorical question.
Might be looking at a short dance south. No pun intended.
Hi lilpip,

Do you mean the USD bull?

well Igot caught on entry long USD after the up sweep as well, just got out level 3 rescue.

Note daily charts, the distribution will either contract or expand out, but as the legs are swift and long, only can expect more of volitility play intraday. Non ride opportunities detected yet. Like I said stay nimble, try not to overstay stance. There are much bleeding USD bears as well so be mindful of volitility sweeps.

regards

Today, I am a liitle out of step, trying to fly a new platform on the side.
Haven't taken off yet. The platform , is not as easy to "fly". May need computer hardware upgrade. Still trying for now.
and unable to fit into the cockpit (login problems).LOL
  • #3,168
  • Edited 12:17pm Jul 8, 2008 12:04pm | Edited 12:17pm
I was using e/u 5660 as support up to 5737 which I'm using as a guide, if it breaks I would feel comfortable leaving a portion of my babies unattended.

If 5736 area holds I'm looking for a short dance south to 5660.

I'm looken for short dance below 5660 with eyes and ears open around 5625.

correction was- I'm using 5660 as support and 5736 for a guide.
  • #3,169
  • Edited 12:26pm Jul 8, 2008 12:10pm | Edited 12:26pm
Quoting lilpip
I was using e/u 5660 as a guide for support up to 5737 if it breaks I would feel comfortable leaving a portion of my babies unattended.

If 5736 area holds I'm looking for a short dance south to 5660.

I'm looken for short dance below 5660 with eyes and ears open around 5625.
Hi lilpip,
dangerous stance you have. Never leave baby unattended.
S/R can give way, it depends on it robustness, and for now with high voli
Anything is possible, depends on the mass resolves.
Stay nimble for change and sweeps possibilities.

regards
  • #3,170
  • Jul 8, 2008 12:33pm Jul 8, 2008 12:33pm
Quoting fti
Hi lilpip,
dangerous stance you have. Never leave baby unattended.
S/R can give way, it depends on it robustness, and for now with high voli
Anything is possible, depends on the mass resolves.
Stay nimble for change possibilities.

regards
10-4 on the unattended baby.
My thoughts were if 5737 breaks the trend for the day would be up and depending on how far leaving a small portion to run from 5660 or possibly todays lows depending how that resolves.
I appreciate your reminders and keeping me in check, you just might see me develope into a trader.
  • #3,171
  • Jul 8, 2008 1:17pm Jul 8, 2008 1:17pm
Hi All,
lets see if the USD bears can come out of the woods now.
its trying vv hard huh.
seems delayed action, looks like wating for the queens men to get into gear, LOL
  • #3,172
  • Jul 8, 2008 1:22pm Jul 8, 2008 1:22pm
Fti,

Curious to your thoughts: at this time of day, do you think the USD bears are coming out or just distribution of todays USD Bull run?

a
  • #3,173
  • Jul 8, 2008 1:27pm Jul 8, 2008 1:27pm
Quoting auxesis
Fti,

Curious to your thoughts: at this time of day, do you think the USD bears are coming out or just distribution of todays USD Bull run?

a
Hi auxesis,
Really can't tell yet. Those USD bears had been bleeding lots.
Sure runring out of clock space though.
Felt suspicious , that voli was high due to market thinness.
Just suspicion as I cannot see much flow,
If this was true could get hairier into wellington zone.
Gotta see how the US boys playwhile they sq out for the day.
Seems the yen boys are out, there's a little life left yet for the queens boys.
  • #3,174
  • Jul 8, 2008 1:33pm Jul 8, 2008 1:33pm
Quoting fti
Hi auxesis,
Really can't tell yet. Those USD bears had been bleeding lots.
Sure runring out of clock space though.
Felt suspicious , that voli was high due to market thinness.
Just suspicion as I cannot see much flow,
If this was true could get hairier into wellington zone.
Gotta see how the US boys playwhile they sq out for the day.
Seems the yen boys are out, there's a little life left yet for the queens boys.
Fti,

Thanks, it will be interesting to see which way Tokyo and London push this thing.

regards'

a
  • #3,175
  • Jul 8, 2008 1:53pm Jul 8, 2008 1:53pm
Quoting auxesis
Fti,

Thanks, it will be interesting to see which way Tokyo and London push this thing.

regards'

a
Looks like , they ran out of steam.
Suspicious sweeping going on, lets see if claws comes back tom.
Goodnight.

regards
  • #3,176
  • Jul 9, 2008 3:08am Jul 9, 2008 3:08am
Dealing Room Ethics

Never do this while explaining losses to your boss.
Inserted Video


Never do this in the dealing room.
Inserted Video


Always buy throw proof equiptment for dealing.
Inserted Video


Inserted Video


regards

more volitility only, markets seems coiling.
  • #3,177
  • Jul 9, 2008 3:16am Jul 9, 2008 3:16am


Good titles too, thanks man.
Still waters run deep
  • #3,178
  • Edited 6:21am Jul 9, 2008 5:56am | Edited 6:21am
I'm staying away from any short dance today above e/u 5665.
Only dancing long today from 5665 point of entry.

Anybody dancing with the g/u ?
  • #3,179
  • Jul 9, 2008 8:33am Jul 9, 2008 8:33am
Quoting fti
Dealing Room Ethics

Never do this while explaining losses to your boss.
http://www.youtube.com/watch?v=YjM-kawrgYU

Never do this in the dealing room.
http://www.youtube.com/watch?v=NWkDQ3pgfXE

Always buy throw proof equiptment for dealing.
http://www.youtube.com/watch?v=2gIex0pd96U

http://www.youtube.com/watch?v=ikFD2-8zwEo&NR=1

regards

more volitility only, markets seems coiling.
I promise, no more paper clips
  • #3,180
  • Edited 9:33am Jul 9, 2008 8:54am | Edited 9:33am
I sure would like to follow the e/u lead past 5747.

Its nice to see the g/u back.
Scout in long at g/u 9772 I guess I'm getting to excited with my bias upwards. I need to put that in check.
canceling that g/u @9772
today I'm using 9777 for entering scouts long above and scouts short below.
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