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Technical Analysis Fallacy

  • #3,561
  • Jul 18, 2008 2:20am Jul 18, 2008 2:20am
Quoting DutchAngel
...
I have read McCall's book and enjoyed the warrior tales, but not so sure of all the breathing exersizes etc. In the book he refers a lot to The Book of 5 rings by Miyamoto Musashi which is also similar genre to Art of War. I have pdf of 5 rings so if you want a copy of it let me know.
Good Morning DutchAngel!

Thanx for your helpful explanations yesterday.
I was in a very bad trading situation, so there was no time to thank you a little earlier.

By the way: I would be interested in the book of the 5 rings too. Wold you be so kind to send me a copy by PM?

Thanx a lot!

Ciao,
MaMood
  • #3,562
  • Jul 18, 2008 2:27am Jul 18, 2008 2:27am
Quoting MaMood
Good morning fti!

How do you doin?
Do you have some scouts out?

I'm not sure about the short term trend in USDJPY.
I think we are ranging between 105.50 and 104.50 ...

By the way - some of my favorite music for getting calm after some stressing trading session:

http://de.youtube.com/watch?v=5nVcLw...eature=related
http://de.youtube.com/watch?v=T7st1GtN9rI
http://de.youtube.com/watch?v=OOL7cw...eature=related
http://de.youtube.com/watch?v=p-sr17...eature=related
Hi MaMood,
Didn't enjoyed the music while I traded.

But sure liked it relaxing, after I was squared for the day.
esp
http://de.youtube.com/watch?v=p-sr175CMLg
Something in its "flow"catches me.
Thanks

regards
  • #3,563
  • Edited 4:31am Jul 18, 2008 2:37am | Edited 4:31am
Quoting fti
Hi MaMood,
Didn't enjoyed the music while I traded.

But sure liked it relaxing, after I was squared for the day.
esp
http://de.youtube.com/watch?v=p-sr175CMLg
Something in its "flow"catches me.
Thanks

regards
OMG ! beautiful !
To Live is the rarest thing in the world , Most people exist , that is all
  • #3,564
  • Jul 18, 2008 2:44am Jul 18, 2008 2:44am
Quoting maheswara
OMG ! beautiful ! u know u can convert any youtube into mp3 ... flvto.com
Good morning, Mahes,

and how do you do that?...I want to learn.
Empty as water and soft as a facing wind mountain
  • #3,565
  • Jul 18, 2008 2:46am Jul 18, 2008 2:46am
Quoting maheswara
OMG ! beautiful ! u know u can convert any youtube into mp3 ... flvto.com

Hi fti and maheswara!

Makes me happy, that you enjoyed the music.
And thanks for the link to flvto.com. I didn't knew that before. It is a very useful tool.
  • #3,566
  • Jul 18, 2008 2:55am Jul 18, 2008 2:55am
Quoting maheswara
OMG ! beautiful ! u know u can convert any youtube into mp3 ... flvto.com
Hi maheswara,
Dear young man, Do not abuse the artist.
Accept things as it is , when it is shared.
If you like it then go buy it for your own.
Moreover if you think it sounds good in LoFi video.
You may get a shock when you hear the CD HIFi.
Don't short change yourself, esp if you love it.

More, the artist , he will be encouraged.
You wouldn't want to produce something beautiful, only to have it stolen. Please don't support abuse.
Fair use and fair sharing is acceptable, abuse is ugly.
I know you will do the right thing. won't you?

Learn how to trade well, and you will never again be without anything that you want in life.

regards
  • #3,567
  • Jul 18, 2008 3:05am Jul 18, 2008 3:05am
Just for info ...

EUR/USD: Quality Buying Yet To Spark Bounce

Freitag, 18. Juli 2008 09:58:00

London, July 18. Quality names touted on the bid in EUR/USD but the price is yet to rebound significantly. Middle-East and a quasi-official are reported to have been buyers into the dip below 1.5850 but the pair is yet to bounce with supply now seen out of eastern European and speculative accounts. 1.5839 marks the latest lows but the official buying has helped stall the move lower and trading now sits in the 1.5840"s. Further buyers are seen into the 1.5820"s with support down at 1.5800 still seen as key to the downside in the medium-term. [i][email protected][/i]
  • #3,568
  • Jul 18, 2008 3:12am Jul 18, 2008 3:12am
Quoting luSan
I love reading...indeed...you mentioned your 4 favorites....Could you share them with us?

One of mine is "The Ultimate trading guide" by John Hill, G. Pruitt and L. Hill
my favorites,

Ulitimate trading guide , that you mentioned
Robert Miner's Dynamic trading approach
Bryce Gilmore Market Geometry
Edward and Maggie TA of stock trends

and to be honest, any technical method will make money IF applied in consistent and disciplined manner, this is what I learnt after studying and being knocked down in the markets for quite a long time.
I found the worest thing for a trader to be impatient with the methodolgies you have and looking for constant winners and refusing the truth that you will go through cold losing streaks.

By the way, I will appreciate it if you send me the 5 rings pdf.
as I have always liked the eastern ( Chinese and Japanese) cultures and disciplines.
Enter Signature
  • #3,569
  • Edited 3:35am Jul 18, 2008 3:13am | Edited 3:35am
Quoting MaMood
Just for info ...

EUR/USD: Quality Buying Yet To Spark Bounce

Freitag, 18. Juli 2008 09:58:00

London, July 18. Quality names touted on the bid in EUR/USD but the price is yet to rebound significantly. Middle-East and a quasi-official are reported to have been buyers into the dip below 1.5850 but the pair is yet to bounce with supply now seen out of eastern European and speculative accounts. 1.5839 marks the latest lows but the official buying has helped stall the move lower and trading now sits in the 1.5840"s. Further buyers are seen into the 1.5820"s with support down at 1.5800 still seen as key to the downside in the medium-term. [i][email="[email protected]"][email protected][/i][/email]
I just picked up my crystal ball...today will be a slow day...range trend...so back to sleep..Strong wall at 5825, we are almost there...so reverse a good idea...but then we might have to wait for several hours...worthy?...probably not for training...but sure trading!?
Empty as water and soft as a facing wind mountain
  • #3,570
  • Jul 18, 2008 3:17am Jul 18, 2008 3:17am
Quoting CHFJunkie
my favorites,

Ulitimate trading guide , that you mentioned
Robert Miner's Dynamic trading approach
Bryce Gilmore Market Geometry
Edward and Maggie TA of stock trends

and to be honest, any technical method will make money IF applied in consistent and disciplined manner, this is what I learnt after studying and being knocked down in the markets for quite a long time.
I found the worest thing for a trader to be impatient with the methodolgies you have and looking for constant winners and refusing the truth that you will go through cold losing streaks.

By the way, I will appreciate it if you send me the 5 rings pdf.
as I have always liked the eastern ( Chinese and Japanese) cultures and disciplines.
Thanks
Empty as water and soft as a facing wind mountain
  • #3,571
  • Edited 3:33am Jul 18, 2008 3:22am | Edited 3:33am
Quoting CHFJunkie
my favorites,

Ulitimate trading guide , that you mentioned
Robert Miner's Dynamic trading approach
Bryce Gilmore Market Geometry
Edward and Maggie TA of stock trends

and to be honest, any technical method will make money IF applied in consistent and disciplined manner, this is what I learnt after studying and being knocked down in the markets for quite a long time.
I found the worest thing for a trader to be impatient with the methodolgies you have and looking for constant winners and refusing the truth that you will go through cold losing streaks.

By the way, I will appreciate it if you send me the 5 rings pdf.
as I have always liked the eastern ( Chinese and Japanese) cultures and disciplines.
Hi ,
yes, anybody using any style can make money sometimes.
that is true.
But to be consistently and steadily profitable in all conditions, requires more................................
anyways, to each its own.

I don't agree to that statement , at all.
I have maintained about near 100% scince I was senior at the banks. Since The start of this thread, I have maintained 100% profitability in demo. Since trading live again, I have maintained 100% profitability, every trade. Some were scary, but all came home.

And I know many veterans that are in this league. So be fooled that 100% profitability is a dream, it is being achieved.
Cold losing streaks...

regards
  • #3,572
  • Jul 18, 2008 3:32am Jul 18, 2008 3:32am
Quoting fti
Hi ,
yes, anybody using any style can make money sometimes.
that is true.
But to be consistently and steadily profitable in all conditions, requires more................................
anyways, to each its own.

regards
yea, that's why when traders ask experts about books to read, Honest experts just mention books about Physcology ( Self managment ) and money managment.
Enter Signature
  • #3,573
  • Jul 18, 2008 3:35am Jul 18, 2008 3:35am
Quoting luSan
I just picked up my crystal ball...today will be a slow day...range trend...so back to sleep..Strong wall at 5825, we are almost there...so reverse a good idea...but then we might have to wait for several hours...worthy?...probably not for training...but sure trading!?

Hi Lusa, How do you arrive at these walls ? they seem to be very accurate and strong.
  • #3,574
  • Jul 18, 2008 3:37am Jul 18, 2008 3:37am
Quoting fti
Hi ,
yes, anybody using any style can make money sometimes.
that is true.
But to be consistently and steadily profitable in all conditions, requires more................................
anyways, to each its own.

I don't agree to that statement , at all.
I have maintained about near 100% scince I was senior at the banks. Since The start of this thread, I have maintained 100% profitability in demo. Since trading live again, I have maintained 100% profitability, every trade. Some were scary, but all came home.

And I know many veterans that are in this league. So be fooled that 100% profitability is a dream, it is being achieved.
Cold losing streaks...

regards
Cold losing streaks are result of recklessness, cowardace, temper and ego in my opinion. If you are disciplined there is no need for losses let alone streaks of them.
Hope isn't a viable investment vehicle.
  • #3,575
  • Jul 18, 2008 3:40am Jul 18, 2008 3:40am
Quoting hemal011
Hi Lusa, How do you arrive at these walls ? they seem to be very accurate and strong.
Simple near S/R...it does work most of the time...but they are broken by news and heavy hitters...See below...now I go to bed...back by 8:00 am
Attached Image
Empty as water and soft as a facing wind mountain
  • #3,576
  • Jul 18, 2008 3:50am Jul 18, 2008 3:50am
Quoting fti
Hi ,
Quoting fti
yes, anybody using any style can make money sometimes.
that is true.
But to be consistently and steadily profitable in all conditions, requires more................................
anyways, to each its own.

regards
EDIT

yea, that's why when traders ask experts about books to read, Honest experts just mention books about Physcology ( Self managment ) and money managment.

it seems like I replied while you were rediting.
you know sometimes I go through a losing streak and other times through spectacular winning streaks.
you may see this untrue, as to someone very experienced and old ( it's an advantage here, you see? ) , it may look like this.
I beleive no one here in this thread have been through the experiences you have through.
so me myself I may not have the same phsycological and trading combination that you have.

I sometimes make mistakes, big mistakes but as time goes by , I just learn to minimize the damage , recognize them and get rid of them as soon as I can to get back on track.

to me I know to be a winner requires two things, 1.average win must be bigger than average loss.
and if I go through the drawdown or losing streak, I must be able to pull myself up out of it, to let it go and go on.

Regards

Enter Signature
  • #3,577
  • Jul 18, 2008 4:06am Jul 18, 2008 4:06am
Hi there guys i have been reading this post for some time now and it is my view that technical analysis does work most of the time if the market gives you three or four perfect opportunities for the month then take those?why try to defeat the market something i have discovered could never be achieved.
  • #3,578
  • Jul 18, 2008 4:09am Jul 18, 2008 4:09am
Quoting CHFJunkie
to me I know to be a winner requires two things, 1.average win must be bigger than average loss
this is something I cannot agree with. rings a bell as a wrong mindset. or maybe I don't like the word "average" in any way.

for example, I find yesterday to be a great trading day for me as I managed myself out of a bad position with attack troops in. all came home with profit.

read in the beginning of this thread what fti has to say about losses and position management.

when you enter a trade you can't be right all the time but that does not mean you have to take a loss every time the market turns on you.

next you will say that your take profit level has to be bigger than stop loss..

Quoting CHFJunkie
and if I go through the drawdown or losing streak, I must be able to pull myself up out of it, to let it go and go on.
this I would agree with if you would say it about one loosing position in the market, not a streak.
  • #3,579
  • Jul 18, 2008 4:13am Jul 18, 2008 4:13am
Are you all full timers? trading of the 5 min charts?


It seems I missed alot of fti posts here. I will go back and look for fti's posts that yoiu mentioned.

BTW I mean by losing streak, two or three consecutive losers.
Enter Signature
  • #3,580
  • Jul 18, 2008 4:17am Jul 18, 2008 4:17am
Quoting fti

Learn how to trade well, and you will never again be without anything that you want in life.

regards
and
Quote
Originally Posted by fti
I don't agree to that statement , at all.
I have maintained about near 100% scince I was senior at the banks. Since The start of this thread, I have maintained 100% profitability in demo. Since trading live again, I have maintained 100% profitability, every trade. Some were scary, but all came home.

And I know many veterans that are in this league. So be fooled that 100% profitability is a dream, it is being achieved.
I just love these two statements fti .... gives me hope.
Is'nt this the reason why we are here guys ?
What is better then being mentored by the best ?

many many many thanks fti.

ps fti. you mentioned demo first, may be I should do that, I have been avoiding that as There is no emotion in demo where as with live I tend to be emotional.
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