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Technical Analysis Fallacy

  • #4,281
  • Edited 12:05pm Jul 29, 2008 11:33am | Edited 12:05pm
Quoting Green_David
I am also square and of course made less pips. The daily trend is clear to every body. Last two days, I got nothing by shorting, today I got all the book loss back and profit, and this is so called trend.

E/U and G/U seems stablizing now, but I gave up to capitalize on rebound and I am waiting for opportunities to short again after I saw a good rebound in E/U. Hope I won't pay lower prices than the prices I closed.

Good luck.
The last day and half has been very difficult to trade and especially after yesterdays NY session close.
I consider anyone who broke even or with profit, fortunate.
I'm about ready to let this move settle in and comeback tokyo session to have my general ready for london.

Its funny,I guess its the inexperience, even though there was a victory with ground aquired today the general does not feel prepared to go further.

See ya in the next session its best if I'm out.
  • #4,282
  • Jul 29, 2008 11:35am Jul 29, 2008 11:35am
Hi Fti & All,

I have been reading this thread for awhile now......Im still going through it and sometimes go back and reread stuff but the pace of this Live thread is amazing and hopefully will be up to speed soon.

Firstly will like to thank Fti for the dedication and wisdom he has/is sharing on this wonderful thread and also all the past and present contributors to this thread sharing their knowledge and experiences which will help newbie like me through my learning curve.

Fti....the only tool I use are Fibs ext. and as someone describe it on this thread or some other thread I have read(its like learning to ride a bike as a kid with stabilizers) I'm sure the older I get in the game the more confident I will be to let go of my stabilizers.

Thanks and will continue reading the thread and hopefully be back with afew questions.
  • #4,283
  • Jul 29, 2008 11:55am Jul 29, 2008 11:55am
Quoting jest1081
Lusan, take it easy, you are a fast learner and i must add a splendid trader in your own right. But I cant help but noticing slight hints of agression in the tone of your posts lately, is something wrong?

FTI may be little edgy but you have to understand why and what he had recently gone thru. I've gone thru periods where he din reply to my posts, it sucks, but i just kept a thick face. If he's scolding your or reprimanding you, it means he cares for you, hey ur indeed the best amongst the old birds, its reflected in ur journals...so be cool

There are times when i felt that i too have nothing much to discuss or add here but i keep finding myself continually learning from the man. Since the learning curve is slowing down, then there's really nothing much other than personal experience? Keep up the splendid form buddy.
Thanks for the reminder...no aggresion intended here...hey..I am not Anglo and my English sometimes has a sharp edge...When I am upset you will see this.

Sorry...no emotion intended...Maybe sharp sentences but not intentional....
Gosh...sometimes I forget that others might not understand where I coming from...I am a ponny because -remember- my mindset is for 1-2 hours trade...fti trades 12+hrs...That is very different, indeed...that makes him a big arabian war horse that engages in big wars...I fight the little wars...I want to be quick and fast... that is my goal, remember, clearly spell out in my journal and many posts.

Actually I think that fti needs to really rest...being in this war since yesterday..no much sleep for him...

his scolding?... they are good for me...they hurt and keep me healthy...it is so easy to lose me way in the forex laberint, to allow Egor run my account.. I appreciate anytime he snaps and shows me that I "did it again"...man, I am grateful when I giant tell me to awake up and drop those S/R and other junk...If I do not listen and consider then I am a fool.

Regards,

Yes...I am beginning to return to my old confidence.. moved to normal trading size tomorrow...let us begin.
Empty as water and soft as a facing wind mountain
  • #4,284
  • Jul 29, 2008 11:58am Jul 29, 2008 11:58am
Quoting MaMood
One question concerning your thgougts about the 3kingdoms at the moment:

Situation:
1. EURUSD and GBPUSD ar going still down
2. USDJPY ist not moving.

First point means USD gets stronger, right?
second one means Yen gets stronger? (because USDYEN did not move and USD gets stronger ...)

Where is the money flowing to?
I hope it is flowing into your pockets!LOL
  • #4,285
  • Jul 29, 2008 12:04pm Jul 29, 2008 12:04pm
Quoting rapaduski1
I hope it is flowing into your pockets!LOL
A little of it had found the way in my pockets today.
Nevertheless my pockets are not very deep pockets.

I'm out for today.
Wish you all some good trades and/or some relax time.

CU
  • #4,286
  • Jul 29, 2008 12:31pm Jul 29, 2008 12:31pm
Quoting fti
Hi David.
Oh and forgot to thank David for his info on the stops at 25, didn't see it then,was busy doing something. It was good, wondered where you got the info from? Thanks David for looking out for me.

Please rethink that which mark out in red.
Thats wrong mindset, preconcieving action is also dangerous.
I hope you were thinking aloud, don't let it bother you when in battle.

regards
hi FTI,

I got these kind of info from my platform -- Fxsol. About every ten minutes there would be such information like this on E/U, G/U, U/J and other pairs. But sometimes these info would be misleading. I will paste more in the future.

Thanks for your reminding. I took this lesson in a very hard way by a MC around end of last month as desribed in my that stupid post. Always be nimble. Remember the thing I admire you the most? Nimbleness.

Lot of times my scout positions trapped me and made trading against the daily trend even I knew it, because my positions brought blind hope to me.

I said red marked words, because:

by now the E/U daily trend is quite clear to every trader with open mind, i.e. down trend. Until now, it has only 10 pips rebound. Without news until next London session, I suspect similiar E/U price movement will happen again tomorrow(Wedensay) like last Wednesday, only 50 pips rebound during late NY and early Asia session, and the price goes down again.

And in AOW, "Seduce/entice/allure your enemy deep into your territory and fight back (You di shen ru)". That is why I better give up possible rebound and let the enemy(E/U bulls or USD bears) come. I remember I asked this stretegy thing on last Friday.

If the daily trend changes, I think it takes severeal days. It is very unlikely that we will see a 200 pips increase of E/U to change the main trend just in one day.

BTW, some advice from your little brother, forget about today's loss, just imanie a good company had a temperary loss, and give some money back to the market, otherwise the market would be angry with you(Are you really treat the market as your bank ATM?). And take a good rest, there would be some major news tommorrow NY beginning. And big fights would be on Thursday and Friday. If you had a good rest yesterday, I am quite sure you would have turned after E/U broke 5725.

Thank you again, I learned and made great progress from you.

David
  • #4,287
  • Jul 29, 2008 1:08pm Jul 29, 2008 1:08pm
NY boys seem to be finishing off todays business, looking for a retracement range to work my way out of todays mess. Else I may be forced to commit seppuku.

what an ugly day here, cheers to all you dollar bulls!
  • #4,288
  • Jul 29, 2008 1:55pm Jul 29, 2008 1:55pm
Quoting luSan
Thanks for the reminder...no aggresion intended here...hey..I am not Anglo and my English sometimes has a sharp edge...When I am upset you will see this.

Sorry...no emotion intended...Maybe sharp sentences but not intentional....
Gosh...sometimes I forget that others might not understand where I coming from...I am a ponny because -remember- my mindset is for 1-2 hours trade...fti trades 12+hrs...That is very different, indeed...that makes him a big arabian war horse that engages in big wars...I fight the little wars...I want to be quick and fast... that is my goal, remember, clearly spell out in my journal and many posts.

Actually I think that fti needs to really rest...being in this war since yesterday..no much sleep for him...

his scolding?... they are good for me...they hurt and keep me healthy...it is so easy to lose me way in the forex laberint, to allow Egor run my account.. I appreciate anytime he snaps and shows me that I "did it again"...man, I am grateful when I giant tell me to awake up and drop those S/R and other junk...If I do not listen and consider then I am a fool.

Regards,

Yes...I am beginning to return to my old confidence.. moved to normal trading size tomorrow...let us begin.
ok man! salute.

I think fti's either really whacked up right now, or he's skewing agressively, i thinking its the latter, that guy has got some stamina for his age. lol.

im gonna hit the sack guys. good day friends!
  • #4,289
  • Jul 29, 2008 2:02pm Jul 29, 2008 2:02pm
Quoting rapaduski1
I hope it is flowing into your pockets!LOL
That was good one
  • #4,290
  • Jul 29, 2008 4:32pm Jul 29, 2008 4:32pm
Hi all a friend helped me to get the pictures up finally as I didn't know how.
I hope you enjoy them.
It looks like a peaceful place to unwind, clear the mind and rejuvinate the soul.
May we all get the rest that we deserve.
Attached Images
  • #4,291
  • Edited 6:08pm Jul 29, 2008 5:24pm | Edited 6:08pm
With all of your wealth fti, look at the scenery you could be enjoying!

Now those places I would love to visit.

Spectacular photos!
  • #4,292
  • Edited 8:50pm Jul 29, 2008 7:28pm | Edited 8:50pm
Is that Guilin?
Take a report.
  • #4,293
  • Jul 29, 2008 8:40pm Jul 29, 2008 8:40pm
Quoting CateFul
Is that Guiling?
Looks like Guangxi to me...... David should shed some light on this.
  • #4,294
  • Jul 29, 2008 8:48pm Jul 29, 2008 8:48pm
Quoting lilpip
Hi all a friend helped me to get the pictures up finally as I didn't know how.
I hope you enjoy them.
It looks like a peaceful place to unwind, clear the mind and rejuvinate the soul.
May we all get the rest that we deserve.
Wow completely breathtaking.
Cannot help but admire the creator.
I am going to use them as my desktop background.

Thanks for sharing.
  • #4,295
  • Jul 29, 2008 9:42pm Jul 29, 2008 9:42pm
Quoting sitoca
Looks like Guangxi to me...... David should shed some light on this.
Yes, the last three photos are surely taken in Guilin, Guangxi Province.
  • #4,296
  • Jul 29, 2008 11:03pm Jul 29, 2008 11:03pm
Quoting Green_David
Yes, the last three photos are surely taken in Guilin, Guangxi Province.
We have a Guilin too here in Singapore
  • #4,297
  • Jul 29, 2008 11:38pm Jul 29, 2008 11:38pm
Quoting lilpip
Hi all a friend helped me to get the pictures up finally as I didn't know how.
I hope you enjoy them.
It looks like a peaceful place to unwind, clear the mind and rejuvinate the soul.
May we all get the rest that we deserve.

Wow,
sometimes I forget about how wonderful our world is outside my tradingroom.

Maybe I'm going to put one of these strong masterpieces at the wall vis-a-vis of my desk.

Thanx for sharing!
  • #4,298
  • Jul 29, 2008 11:39pm Jul 29, 2008 11:39pm
Quoting CateFul
Is that Guilin?
I believe its the Yansi, Im not positive though.
  • #4,299
  • Jul 30, 2008 12:04am Jul 30, 2008 12:04am
Sounds like your enjoying them, heres a couple more.
Attached Images
  • #4,300
  • Jul 30, 2008 12:30am Jul 30, 2008 12:30am
No more pics.

Battlestation now. Scout of G/U & E/U short already in. Wait to confirm or rescue.

Wonder where is FTI?
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