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Technical Analysis Fallacy

  • #4,421
  • Jul 31, 2008 1:32am Jul 31, 2008 1:32am
Quoting textor
Tango trading:

http://www.youtube.com/watch?v=FvrxtHmvpvg

Rgs,

Textor
Hi textor,
Touching music, almost made me seeing that the princess., that I would too, then I thought, hey, Iam not getting marrried again. And that didi it.

regards
  • #4,422
  • Jul 31, 2008 1:37am Jul 31, 2008 1:37am
USD bulls begin to show their claws? Wait and see.
  • #4,423
  • Jul 31, 2008 1:43am Jul 31, 2008 1:43am
Till the major US figures will be published at 1230 GMT, there are only two smaller figs weshould take care of:

0755 GMT - German jobless claims
0900 GMT - EU CPI flash estimate
  • #4,424
  • Jul 31, 2008 2:11am Jul 31, 2008 2:11am
Quoting MaMood
Till the major US figures will be published at 1230 GMT, there are only two smaller figs weshould take care of:

0755 GMT - German jobless claims
0900 GMT - EU CPI flash estimate
now, happy hours for bears.
  • #4,425
  • Jul 31, 2008 2:18am Jul 31, 2008 2:18am
Quoting Green_David
now, happy hours for bears.
Hi David,

are there any infos due to clusters of bids, offers, stoploss on your bush telegraph??
May be especially some on USDJPY??

Thx!
  • #4,426
  • Jul 31, 2008 2:27am Jul 31, 2008 2:27am
Quoting MaMood
Hi David,

are there any infos due to clusters of bids, offers, stoploss on your bush telegraph??
May be especially some on USDJPY??

Thx!
Nothing special. Says some selling on 5630. Tech resistance 5670. UK clearer and Russian names were buying up.

Chart is more important.

sounds U/J makes a leading again, but need confirmation. I am still shorting on rebound of E/U, G/U.

My scout short G/U E/U stuck, but not too far out of money.

Just wait.
  • #4,427
  • Jul 31, 2008 2:28am Jul 31, 2008 2:28am
Quoting MaMood
Bythe way:

S x 1 x USDJYP x 107.89

and thanks for all you explanations at what happened to your mindset the last days. As always very enlightened. Hope you managed your 100% recovery at the meantime ...
Hi MaMood,

The book had turned +ve this morning.

becareful that the USD bull run may not b over yet.
Looks like traps.


regards
  • #4,428
  • Jul 31, 2008 2:39am Jul 31, 2008 2:39am
I have some scout and rescue troops stuck on long dollar:
S x 6 x E/U x @ around 1.5585 average

now sent in another rescue mission:
S x 5 x E/U x 1.5624
  • #4,429
  • Jul 31, 2008 2:42am Jul 31, 2008 2:42am
sx 15620
  • #4,430
  • Jul 31, 2008 2:43am Jul 31, 2008 2:43am
Thanks fti & David!
I'm alerted!

The following info I got from my broker cos I was asking them:

here are around 170 currencies in the world. However, activity is concentrated into six ‘major’ currency pairs, which account for around two-thirds of the total turnover.

The Majors are:

USD/EUR (27%)
USD/JPY (13%)
GBP/USD (12%)
AUD/USD (6%)
USD/CHF (5%)
USD/CAD (4%)

@fti: are the turnover volumes congruent with your knowledge?
  • #4,431
  • Jul 31, 2008 2:47am Jul 31, 2008 2:47am
Quoting fti
Hi ALL,

I am less than 10% from full recovery of the loss booked.
I am glad to hear this. I felt bad that my post seemed to be the trigger to your biased mindset. I was reminded of one of the first rules of trading I was taught which was to ignore all news and opinions and in fact if I had the balls, to do the opposite of what was headlining.

Although painful for you, this was an invaluable lesson for all of us. Damage is part of the battle. At one stage in this thread, Leigh was saying that losses were no longer necessary, that we could turn every trade into a winning trade, and although I knew you disagreed with her, neither of us corrected her strongly enough.

Quoting fti
I am actually at the moment thinking very deeply over this training exercises I had presented to help some people here. Please do not mistaken that anyone had been anything, but great people. and I had great pleasure sitting amongst you.

It is just that there are real dangers of this way of training. On last count, I do not believe there is anyone here that is fully practising the training as it should. The few that I thought, had understood, seems to had developed their own cute looking horses. You see, all styles of trading can make money in the short term ( for a few months.) but to for it to be a viable business or retirement plan, performance must be consistent and mostly safe.
There may be dangers in this way of training, but what are the alternatives. You have immense knowledge and a generous heart. You are willing to share this and your time at no cost. For this I am eternally grateful.
I respect you and reading posts by other members here, we all wish you to continue this journey we have embarked on, but if it is to detriment of your book it is obviously not viable for you.

As I am late in this discussion, have tried to keep my response as short as possible.
Hope isn't a viable investment vehicle.
  • #4,432
  • Jul 31, 2008 2:47am Jul 31, 2008 2:47am
JPY crosses are running uphill with some momentum ...
  • #4,433
  • Jul 31, 2008 2:54am Jul 31, 2008 2:54am
G/U(9809) E/U(5611) attack/rescue L1 finished.
  • #4,434
  • Jul 31, 2008 2:54am Jul 31, 2008 2:54am
German jobless claims are out:

-15k (-15k expected)
  • #4,435
  • Jul 31, 2008 2:54am Jul 31, 2008 2:54am
Quoting MaMood
Thanks fti & David!
I'm alerted!

The following info I got from my broker cos I was asking them:

here are around 170 currencies in the world. However, activity is concentrated into six ‘major’ currency pairs, which account for around two-thirds of the total turnover.

The Majors are:

USD/EUR (27%)
USD/JPY (13%)
GBP/USD (12%)
AUD/USD (6%)
USD/CHF (5%)
USD/CAD (4%)

@fti: are the turnover volumes congruent with your knowledge?
yes, the ratios seems correct,MaMood.
Only that Eur is sitting where USD/DM used to be.

regards
  • #4,436
  • Jul 31, 2008 2:57am Jul 31, 2008 2:57am
Quoting DutchAngel
I am glad to hear this. I felt bad that my post seemed to be the trigger to your biased mindset. I was reminded of one of the first rules of trading I was taught which was to ignore all news and opinions and in fact if I had the balls, to do the opposite of what was headlining.

Although painful for you, this was an invaluable lesson for all of us. Damage is part of the battle. At one stage in this thread, Leigh was saying that losses were no longer necessary, that we could turn every trade into a winning trade, and although I knew you disagreed with her, neither of us corrected her strongly enough.


There may be dangers in this way of training, but what are the alternatives. You have immense knowledge and a generous heart. You are willing to share this and your time at no cost. For this I am eternally grateful.
I respect you and reading posts by other members here, we all wish you to continue this journey we have embarked on, but if it is to detriment of your book it is obviously not viable for you.

As I am late in this discussion, have tried to keep my response as short as possible.
DA,

Very insightful. Thanks for all the help you have rendered me up till today.
  • #4,437
  • Jul 31, 2008 2:59am Jul 31, 2008 2:59am
Quoting fti
yes, the ratios seems correct,MaMood.
Only that Eur is sitting where USD/DM used to be.

regards
fti is this the reason why you said that its usually eurusd that leads the kingdoms?
  • #4,438
  • Jul 31, 2008 2:59am Jul 31, 2008 2:59am
Quoting MaMood
German jobless claims are out:

-15k (-15k expected)
How come? forexfactory is -20k, -20k.

Still be careful the size, maybe there would be wave 3 for E/U G/U.

@fti, would it possible?
  • #4,439
  • Jul 31, 2008 2:59am Jul 31, 2008 2:59am
Quoting MaMood
JPY crosses are running uphill with some momentum ...
I feel that what DutchAngel uncovered, is not over yet.
If anything this may be with us for sometime to come.
On an on and off basis, be forewarned.

Evey time the the 3kigs seems fuuny ,
rest assure that it is the yen game of the moment.

regards
  • #4,440
  • Edited 3:16am Jul 31, 2008 3:01am | Edited 3:16am
Quoting fti
yes, the ratios seems correct,MaMood.
Only that Eur is sitting where USD/DM used to be.

regards
Yeah - the good old DM.
At that times i could buy for example a pizza (typical italian food) for 8 DM.
Now I have to pay 8 EUR (ratio between EUR/DM is 1.95583)
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