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Technical Analysis Fallacy

  • #3,201
  • Jul 10, 2008 4:43am Jul 10, 2008 4:43am
Quoting lilpip
Will the 5701 area be the daily lows for the e/u ?
What type of question is this?
How would I know.
  • #3,202
  • Jul 10, 2008 4:48am Jul 10, 2008 4:48am
Quoting fti
What type of question is this?
.
Actually its quite a cute qn.
Still waters run deep
  • #3,203
  • Jul 10, 2008 4:55am Jul 10, 2008 4:55am
Quoting fti
What type of question is this?
How would I know.
I'm not sure if the spellings right but it was a retorical question. ( I think theres an h in there somewhere).

I think its a area to be watched closely so if it is we can get more men in as close to support as we can.
  • #3,204
  • Edited 5:50am Jul 10, 2008 5:03am | Edited 5:50am
Quoting lilpip
I'm not sure if the spellings right but it was a retorical question. ( I think theres an h in there somewhere).

I think its a area to be watched closely so if it is we can get more men in as close to support as we can.
You had better reread this thread. You are way different school.

Do you mean to say there are areas where we don't have to watch closely?
Careful friend, walking on thin ice.
  • #3,205
  • Edited 6:00am Jul 10, 2008 5:37am | Edited 6:00am
Quoting fti
You had better reread this thread. You are way different school.

Do you mean to say there are areas where we don't have to watch closely?
Careful friend, walking on thin ice.
10-4 on rereading the thread and the making sure I understand the meaning of whats being said.
I was just doing so this weekend until I tried to put into practice what I was learnig a couple days ago as I put it up on the board to possibly get some feed back and direction on what I was picking up.
And so I'm getting my reminders and direction.

We have to watch all areas very closely as we try to follow the markets steps and lead.
I guess I was overly eager to find the lows and support for the day in this area.

Sorry about all that, testing your resolve and all.
I'm just an inexperieced trader trying to learn your system and yes I want to view the market as through your eyes, I guess I'm making some mistakes along the way.
I apologize and will try to do better.
  • #3,206
  • Jul 10, 2008 5:51am Jul 10, 2008 5:51am
Quoting lilpip
10-4 on rereading the thread and the making sure I understand the meaning of whats being said.
I was just doing so this weekend until I tried to put into practice what I was learnig a couple days ago as I put it up on the board to possibly get some feed back and direction on what I was picking up.
And so I'm getting my reminders and direction.

We have to watch all areas very closely as we try to follow the markets steps and lead.
I guess I was overly eager to find the lows and support for the day in this area.
Your frame of mind at this juncture is so very differnt from mine.
I am so very cautious this couple o days, looking for any signs that can direct me.
Collaping snowballed positions to base often for managebility in case the big one comes. Looking for clues on every bar. Looking for market mover info.
Reaccesing MO and exposure often.
And you want to play the fortune telling game.
I don't know , you better do a self check.
I thought you had been following the thread for some time nowand would be in sync at least mindset wise.

regards
  • #3,207
  • Edited 6:36am Jul 10, 2008 6:21am | Edited 6:36am
Quoting lilpip

Sorry about all that, testing your resolve and all.
I'm just an inexperieced trader trying to learn your system and yes I want to view the market as through your eyes, I guess I'm making some mistakes along the way.
I apologize and will try to do better.
Hey lilpip,

I am not looking for apologies, that not necessary.
I may have been a little harsh in my words, but I am just trying to tell you, hey buddy , you are going the wrong way.
The frame of mind , ie mindset is absolutely 180 degrees.
If you are trading live, you are in dangerous territories.

Due to the daily chart patterns,these couple of days, I have become very nimble, and book protective untill the fog clears. So I am attck adverse, although there is no harm trying, I wouldn't want to overstay the attack positions lest be caught pants down.

For you, stay off the predictive analysis, if you look at the daily charts, we are doing all sorts of wierdness, outside reversals against outside reversals,
and coiling now, doesn't that tell you anything about the market's status?
So you must adopt, a conservative approach, until this fog clears. And it will, the only question is when, and not at what levels. Levels now means nothing.
Its the pattern and behaviour, thats where the key is.

By the way all this weirdness is good for the book, easy to trade, no test of the balls at all. Wished markets were always like this, bears bleeding, bulls bleeding, dead pig everywhere.

Another issue is that since you are new, try to stay on one pair, while using 3 kingdoms to guide you on that pair. Its fool hardy to do crosses until you can master the one.
Mistresses and concubines often confuses simplicity of life.

regards
Also don't take it too harshly, training always painful.
Like my wife always say , no pain no gain.
  • #3,208
  • Edited 7:05am Jul 10, 2008 6:50am | Edited 7:05am
http://news.yahoo.com/s/ap/20080710/.../iran_missiles
Why is this being done?
What is the impact of this action on oil prices?
Wonder if anyone will set the gas tank on fire?
Inserted Video


Wonder what will happen to gold?

regards
  • #3,209
  • Jul 10, 2008 7:20am Jul 10, 2008 7:20am
Hi All,
Market seems stuck for now so wait trade is on -- no need to see my scout trades killed while this market sorts itself out. Is this like slow dancing near the sidelines? Spending this time studying chart patterns...

Rapaduski
  • #3,210
  • Edited 7:47am Jul 10, 2008 7:36am | Edited 7:47am
Quoting rapaduski1
Hi All,
Market seems stuck for now so wait trade is on -- no need to see my scout trades killed while this market sorts itself out. Is this like slow dancing near the sidelines? Spending this time studying chart patterns...

Rapaduski
Hi Rapaduski,

Be watchful, though.
There's normally crocs in still water.

Was mind jogging, and was wondering what would happen, if one of these flying matchsticks malfunctioned and landed where its not supposed to?

regards
  • #3,211
  • Jul 10, 2008 7:46am Jul 10, 2008 7:46am
fti,
I have the bite marks to prove it, too!

RE: your question about Iran, I think a mistake results in $400 oil, and possibly WWIII. Never too late to pray for calm and cool heads.

Rap
  • #3,212
  • Jul 10, 2008 7:53am Jul 10, 2008 7:53am
Quoting rapaduski1
fti,
I have the bite marks to prove it, too!

RE: your question about Iran, I think a mistake results in $400 oil, and possibly WWIII. Never too late to pray for calm and cool heads.

Rap
Hi Rap,
I think I'll give it a rest, sure bringing me to scary places.

I think, maybe lead would be better buy than gold, to reinforce my bomb shelter. just in case.

regards
  • #3,213
  • Jul 10, 2008 7:56am Jul 10, 2008 7:56am
Quoting rapaduski1
fti,
I have the bite marks to prove it, too!

RE: your question about Iran, I think a mistake results in $400 oil, and possibly WWIII. Never too late to pray for calm and cool heads.

Rap
It's inevitable, just a question of when, sad to say.
  • #3,214
  • Jul 10, 2008 8:04am Jul 10, 2008 8:04am
Quoting auxesis
It's inevitable, just a question of when, sad to say.
Hi auxesis,
Scary.... what idle markets do to active minds.

Oh , nearly forgot, I think the feds talking again tonight.10:00

regards
  • #3,215
  • Jul 10, 2008 8:12am Jul 10, 2008 8:12am
Quoting fti
Due to the daily chart patterns,these couple of days, I have become very nimble, and book protective untill the fog clears. So I am attck adverse, although there is no harm trying, I wouldn't want to overstay the attack positions lest be caught pants down.

For you, stay off the predictive analysis, if you look at the daily charts, we are doing all sorts of wierdness, outside reversals against outside reversals,
and coiling now, doesn't that tell you anything about the market's status?
So you must adopt, a conservative approach, until this fog clears. And it will, the only question is when, and not at what levels. Levels now means nothing.
Its the pattern and behaviour, thats where the key is.

By the way all this weirdness is good for the book, easy to trade, no test of the balls at all. Wished markets were always like this, bears bleeding, bulls bleeding, dead pig everywhere.
Crazy period...In my brief training, I have not seen it! E/U does not have any structure for me. Is it pushing up or falling down? No real tendency..PA is dancing heavy metal and I do not know how to dance it... I am taking a break until there is a resolution.

I wish to say that this is easy for trading as you do...ah...it takes to be Astaire to dance this dollar.

What is going on? You can feel so much uncertainty as if the lady was waiting for something. Is it the Europeans or the FED? The drums of war?
Empty as water and soft as a facing wind mountain
  • #3,216
  • Jul 10, 2008 8:22am Jul 10, 2008 8:22am
Quoting luSan
Crazy period...In my brief training, I have not seen it! E/U does not have any structure for me. Is it pushing up or falling down? No real tendency..PA is dancing heavy metal and I do not know how to dance it... I am taking a break until there is a resolution.

I wish to say that this is easy for trading as you do...ah...it takes to be Astaire to dance this dollar.

What is going on? You can feel so much uncertainty as if the lady was waiting for something. Is it the Europeans or the FED? The drums of war?
Hi Lusan,
Actually both, and the drums as well.
Is it tonight?, dunno , battlestations anyway, old chaps.
Ben's at the podium for now.
And try to stay awake at the wheel !

regards
  • #3,217
  • Jul 10, 2008 8:28am Jul 10, 2008 8:28am
Big Ben and Sec. Paulson address a Senate committee this morning (or evening, depending on your location) in about 40 minutes. They usually release their prepared comments at that time.

It's times like this that makes trading the forex a challenge. Waiting for the battlefield to develop before committing resources requires maturity and patience. Scout trades are ready but still on hold...

Rap
  • #3,218
  • Jul 10, 2008 8:42am Jul 10, 2008 8:42am
Quoting rapaduski1
Big Ben and Sec. Paulson address a Senate committee this morning (or evening, depending on your location) in about 40 minutes. They usually release their prepared comments at that time.

It's times like this that makes trading the forex a challenge. Waiting for the battlefield to develop before committing resources requires maturity and patience. Scout trades are ready but still on hold...

Rap
Remember being on the sidelines, not in the market, is also a position....... and sometimes the best one to have when uncertain.

jmho, fwiw.

a
  • #3,219
  • Edited 9:10am Jul 10, 2008 8:57am | Edited 9:10am
Hi,
Oh , not forgetting, that chet is speaking later behind ben.
So be nimble, and no standing up, beware of stray bullets.

Oh and for those of us staying along the trans atlantic coastline , please inform us if you hear ballastic chopsticks flying overhead,

Ok I think we've most angles covered.

regards

OK no more jerking around, eagle eyes everyone.
  • #3,220
  • Jul 10, 2008 9:09am Jul 10, 2008 9:09am
Quoting fti
Hi,
Oh , not forgetting, that chet is speaking later behind ben.
So be nimble, and no standing up, beware of stray bullets.



Ok I think we've most angles covered.

regards

That conjures up the image of Robert Duvall in “"Apocalypse Now" where he’s walking on the beach with mortar rounds and stray bullets flying everywhere.

regards,

a
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