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Technical Analysis Fallacy

  • #3,861
  • Jul 24, 2008 3:37am Jul 24, 2008 3:37am
Quoting MaMood
Hi guys,

I'm very sorry that I have initiated this discussion/dispute and that it got steamed up this way.
So I want to apologize to luSan. My comment was not meant as an attack on you or your style of trading!

My intention was to get that way of trading commented by fti.
The way you handle your scouts is just the way I did it by myself in the past and I'm still not really convinced, what should be wrong about that.

Why should I start a rescue, when I found me on the wrong side of the trend or (to make it a little more difficult) a major move?
Why shouldn't I ride for example at first a short campaign and when the market tells me, the second one on the long side?
>>>That is exactly what I do...all my campaigns are short...must be fought and won within the hour...that is my objective.

For me it is still difficult to define behavior of a pig/changing busses on the one hand and to be nimble on the other hand.

I'm still learning. But I cant trade someone else rules/style if I didn't get the reasoning behind. So I allways have a lot of questions ...
That has been the reason for my question above ....

So once again a stong "sorry" from my side.
Mamood,

there is no need to apologize. I was not offended at all...I was trying to explain that I do not care about killing early soldier if this let me to get into the bus...that was a conscious decision I made...because it makes sense: it is change money...16% initial feed to ride a train...now if you are getting in with a large position then that is something else...still it does feel like a pig, right? I am aware...

You might want to see the way I do my dance...it is clearly shown in my journal...it is not the way people do it around here...I cannot dance like others because (1) I do not have the time, (2) I am not others either. (3) it works very well for me. Everything is explain there...

Again, nothing to apologize....maybe my mood was a little shocked after reading the rest of the messages yesterday...woah...thanks God I was away...

Boss will not be happy...what a mess!...Boss, please disregard yesterday comments from everybody...it just the stress of trading...Gosh!...We keep forgeting that forex training is psychological training... I hope this was a reminder to keep Egor at bay.

jest: I am not a "PRO"...I am just a forex student...I want to remain open an listen to others...I study very hard this art but I am still very far from any type of expertise. I wish you were right.

Peace
Empty as water and soft as a facing wind mountain
  • #3,862
  • Jul 24, 2008 3:53am Jul 24, 2008 3:53am
Quoting MaMood
Hi,

But with the mantra "It's just money" I feel much more comfortable in doing my campaigns.
@MaMood: hey I feel just like you did I am going to use your mantra and see if it helps me too.
and
@Dutchangel:
"damage is part of the battle, recovery is essential , victory is the objective" is awsome too may be it will work as an affermation for me.

Thanks
  • #3,863
  • Jul 24, 2008 4:07am Jul 24, 2008 4:07am
Hi ALL,

I see you have been busy !

So many questions, ,,,eer later
now is time for
Inserted Video


Inserted Video


Sorry my rescue went overtime into hourly charts.
Chat later... Amigoes

regards
  • #3,864
  • Jul 24, 2008 4:14am Jul 24, 2008 4:14am
Quoting Zoran
The bible was written by man afterall.
With Divine guidance by the Holy Spirit.
  • #3,865
  • Jul 24, 2008 4:33am Jul 24, 2008 4:33am
Quoting fti
Hi ALL,

I see you have been busy !

So many questions, ,,,eer later
now is time for http://www.youtube.com/watch?v=UTWFyH3hlmI

http://www.youtube.com/watch?v=uNk-CtS8JDE&fmt=18

Sorry my rescue went overtime into hourly charts.
Chat later... Amigoes

regards
well that took me back quite a few years

speedy reminded me of LuSan and his fast grabbing of pips.

joy
  • #3,866
  • Edited 5:06am Jul 24, 2008 4:53am | Edited 5:06am
Quoting joypips
well that took me back quite a few years

speedy reminded me of LuSan and his fast grabbing of pips.

joy
Hi joypips,

Speedy years , huh.
I will get to the issues raised by some, when I can find some time.
I made good pips , the early sessions Long USD.
Got half the profits out and lost a half load back when they sprung a fast one on me.
Then afterthat I had been building my Short USD positions, on the 5m charts.
Now I have super spiralled Eurs ozzing out of my ears. What a PIG !
Anyone? Eurs?
This market now very tricky, Eur seems like found support ,may do a little retrace.
I'm on hourly charts now, wish me guidance.... otherwise may be sleepless for a few days babysitting.

Trade careful now.
All making good pips I hope?
regards
  • #3,867
  • Jul 24, 2008 5:07am Jul 24, 2008 5:07am
Quoting fti

[...]

I'm on hourly charts now, wish me guidance.... otherwise may be sleepless for a few days babysitting.

Trade careful now.
regards
Hi fti,

keep cool!
You have the mental power and experience to master that fight.
I'm sure you'll do it!!!


Wish you and all others of the fti community good success.
  • #3,868
  • Jul 24, 2008 5:07am Jul 24, 2008 5:07am
Quoting fti
Hi joypips,

Speedy years , huh.
I will get to the issues raised by some, when I can find some time.
I made good pips , the early sessions Long USD.
Got half the profits out and lost a half load back when they sprung a fast one on me.
Then afterthat I had been building my Short USD positions, on the 5m charts.
Now I have super spiralled Eurs ozzing out of my ears. What a PIG !
Anyone? Eurs?
This market now very tricky, Eur seems like found support ,may do a little retrace.
I'm on hourly charts now, wish me guidance.... otherwise may be sleepless for a few days babysitting.

Trade careful now.
regards
Hi, FTI:

I agreed with you that EUR got some support around 5640. I read a news that there is a large option @5610~25 expiring at GMT14:00. Anyway, E/U lost almost 2% just in 3 days from 1.5940 to 5640.

So what would be your strategy, capitalise on possible rebound, or let the rebound go, and short again when pullback lost momentum?

BTW, I made a killing shorting G/U. How many pips, I forgot, got about 10% return. Maybe on saturday I will post the chart and share how I did it.

Regards

David
  • #3,869
  • Jul 24, 2008 5:08am Jul 24, 2008 5:08am
Today's action would appear to favor the euro retrace, imho. Time will tell.

good hunting everyone.

edit, 5610 is the prior semi-major fractal support, breaking that would signal some to take notice. It will be interesting to see if the Dollar bulls can push below that and some supporting trendlines, i dont want to get into Tech analysis, but to me it helps to know the mind of the opponent i'm trying to trap.
  • #3,870
  • Jul 24, 2008 5:12am Jul 24, 2008 5:12am
Quoting DutchAngel
"damage is part of the battle, recovery is essential , victory is the objective"

This has become my mantra.
[...]
Hi DutchAngel!

I like your mantra too. Maybe I'll substitue mine with yours.
Very well formulated!
It's very prudent and covers most of the aspects of trading.

Thanx for that ;-)
  • #3,871
  • Jul 24, 2008 5:21am Jul 24, 2008 5:21am
Quoting Green_David
Hi, FTI:

I agreed with you that EUR got some support around 5640. I read a news that there is a large option @5610~25 expiring at GMT14:00. Anyway, E/U lost almost 2% just in 3 days from 1.5940 to 5640.

So what would be your strategy, capitalise on possible rebound, or let the rebound go, and short again when pullback lost momentum?

BTW, I made a killing shorting G/U. How many pips, I forgot, got about 10% return. Maybe on saturday I will post the chart and share how I did it.

Regards

David

Hi David,
I donno , my chart keeps turning weak USD , while I was very Long USD in before London.
The London Boys have no clues whatsoever of what to do.
Seems like theres profittaking ahead of Unemployment figs, Housing Starts, and the te fomc people talks,
Thisis little unusual , maybe fig bad, so they have to kiss usd again.

Be careful, you gotta be very nimble to try capture retraces like this , they could test the Eur to 1.5610 before anything happens, so if you take the challenge, you have to be fast. Not fast in position manouvers, but thinking and feel as well.
Otherwise stay out until fomc frog kisses us then see what happens.
They already nearly talk the USD to rise from the dead too many times,
will the voodoo work again? we shall see.
Pardon me, I gotta wind down the positions to managable sizes before all these happens.
So If I didn'e say much, you guys can brainstorm amongst yourself for alittle, ok.

regards
  • #3,872
  • Jul 24, 2008 5:25am Jul 24, 2008 5:25am
Quoting luSan
Mamood,

there is no need to apologize. I was not offended at all...I was trying to explain that I do not care about killing early soldier if this let me to get into the bus...that was a conscious decision I made...because it makes sense: it is change money...16% initial feed to ride a train...now if you are getting in with a large position then that is something else...still it does feel like a pig, right? I am aware...
[....]
Peace
Hi Lusan,

thanx for your explanations.
I'am somehow relieved that you not felt offended.

I have read your journal already.
Your way of shortterm dancing is very impressive and so far most of time successful. Your style gave me some good inspirations ...

But now back to the markets.
US Unemployment Claims are on the way .... 1230 GMT

Regards
MaMood
  • #3,873
  • Jul 24, 2008 5:28am Jul 24, 2008 5:28am
Quoting DutchAngel
"damage is part of the battle, recovery is essential , victory is the objective"

This has become my mantra. I also like this from Theodore Roosevelt

"It is not the critic who counts, not the man who points out how the strong man stumbled, or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena; whose face is marred by the dust and sweat and blood; who strives valiantly; who errs and comes short again and again; who knows the great enthusiasms, the great devotions and spends himself in a worthy cause; who at the best, knows in the end the triumph of high achievement, and who, at worst, if he fails, at least fails while daring greatly; so that this place shall never be with those cold and timid souls who know neither victory or defeat."

Happy trading
Hi Dutchangel,

Wow, have to quickly say,
Teddy's saying, its powerful and very real.

Thanks .
regards
  • #3,874
  • Jul 24, 2008 5:41am Jul 24, 2008 5:41am
Unenployment Up 400++
What a short reaction.
  • #3,875
  • Jul 24, 2008 5:44am Jul 24, 2008 5:44am
Quoting fti
Unenployment Up 400++
What a short reaction.
Thanx for the info!
Was this short timed reaction your ticket out of the rescue mode??
  • #3,876
  • Edited 5:59am Jul 24, 2008 5:47am | Edited 5:59am
[quote=MaMood;2126030]Thanx for the info!
Was this short timed%
  • #3,877
  • Jul 24, 2008 6:13am Jul 24, 2008 6:13am
Quoting fti
Is someone editing my posts?
No sir! Not me!
It should be only be possible for you and of course the administrator/Mod ...

But I have read your writing up to the word "mom".
Now It's all gone ....
  • #3,878
  • Jul 24, 2008 6:16am Jul 24, 2008 6:16am
maybe its my side I got too many screens up.
later
  • #3,879
  • Jul 24, 2008 6:20am Jul 24, 2008 6:20am
Quoting fti
maybe its my side I got too many screens up.
later
Feels somewhat strange to me to give you an advice.
But here it is:

Concentrate on your rescue.
Don't loose the focus while you are chatting with us

  • #3,880
  • Jul 24, 2008 7:18am Jul 24, 2008 7:18am
Quoting MaMood
Hi DutchAngel!

I like your mantra too. Maybe I'll substitue mine with yours.
Very well formulated!
It's very prudent and covers most of the aspects of trading.

Thanx for that ;-)
Thanks MaMood
I got it from fti after going into a laborious explanation of my mindset on this thread, and he summed it up perfectly with this quote which I am pretty sure is from AOW.
Hope isn't a viable investment vehicle.
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