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Technical Analysis Fallacy

  • #4,661
  • Edited 2:36pm Aug 1, 2008 2:14pm | Edited 2:36pm
Quoting rapaduski1
Regarding the S/R comment: if this were true, then the 5585 area does not exist and should not go into the decision making process. There is no triple top...but there is and it does.There IS NO triple Top , look closely. These observations give us confidence in our trades once we are in them, as they did for fti today.
What gave you the idea that I was trading tops, I danced into the zone.??
I know he is flat on his trades now, but if this were not Friday, he might still be in them as long as the market were operating properly.
More assumptions, I don't even know if I would , so please do not assume

Once again, I agree with the basic premise of this thread regarding TA. However, some TA plays a role in trading and I think fti will agree with this. In fact, I detect some frustration in his comments to some traders because they do not perform, or remember, or seem concerned about some basic stuff like what the trend is, or which direction the pulse is moving in, etc. I my mind, knowing the trend is TA, knowing the price action is TA, and knowing how the market has reacted to certain price levels is TA.
This you got it right.Did I ever say that TA doesn't work, For heavens sake I am TECHNICAL ANALYST and had ever conducted TECHNICAL ANALYSIS lessons at high levels. Look Airplanes can fly, but I can say safely , few here can fly them.

I what to say here that if I did not care about the people on this thread I would not be participating. Something wierd happens when you spend weeks reading the posts of people on Internet sites like this...I guess we become a virtual community of sorts. So when I see my virtual friends entering a trade at a price level that, at least statistically, will reverse on them, then I get concerned.
Of course you care, otherwise why take alot of heat for your views. BUT the heat is meant to help you mold. I detect that you have much gone on the wrongside.You seem commercially trained and I can feel it in your postings. Do an honest soul search, for your own development. No doubt , you are experienced, only I feel , on the wrong mould.

I am rambling...
You're welcome to learn, but you have to open your minds,there is much misinformation hiding in you. I detected.

regards
  • #4,662
  • Aug 1, 2008 2:21pm Aug 1, 2008 2:21pm
Quoting rapaduski1
I have been trading all week with not much sleep each night. I will leave you for today with one thing to consider regarding the dollar, at least for the next few weeks. Unlike Europe, New York traders do not take most of the month of August off for holiday. Instead, they will take Fridays and sometime Mondays off to spent an extended weekend in The Hamptons. So, if you are planning to trade on Fridays, you might anticipate a lack of follow through in the NY market action. The big boys are at the beach on Friday when you are trading and waiting.
Hi,
I know, I trained , afew of them.
Amongst all the dealers in the world , NY dealers are most laid back.
If not for the CME and order books, there probably wouldn't be a forex market after Ny lunch.
I was depending on order book to lead, CME and TOKYO. Tokyo's on 24 hours dealing. Who do you think quotes at twinlight zone before wellington?

regards
  • #4,663
  • Aug 1, 2008 2:26pm Aug 1, 2008 2:26pm
Quoting Green_David
My platform Fxsol says it will close 4:30 PM(NY time).

I think I made a bad following. Now it is 46. But anyay, I made 40% this month(July). Should be satisfied.

I am smoking Red Marlbolo.
Hi,
You wanna trade into twinlight zone, withour CME orderbooks, on Fridays.
Pray that you come out with your shrit.
They may squeeze the Red Marlboro out of you.
Do you need something stronger?

Sharks, my bad . I should let you GAIN some experience.


regards
  • #4,664
  • Aug 1, 2008 2:32pm Aug 1, 2008 2:32pm
Hi All,
I have had yet another confusing day reading this thread.

As I recall, FTI says;

1. ignore S/R - so why the post about not attacking until below 50 ?

2. Dont use Elliot - so why are people counting the numbers of waves and deciding if they are Impulse waves or not?

3. Don't go against the trend - but there are so many trends. When I determine the trend for a timeframe in the most basic way - is it up or down from left hand side of chart. Then for me the E/U daily is Up , the 1Hr is down and on the 5 min it has been completely flat for most of the day - it has just turned down about 1 hour ago. So we take our pick - long , short or stay out.

Ian
  • #4,665
  • Aug 1, 2008 2:35pm Aug 1, 2008 2:35pm
Quoting Green_David
All the pairs, G/U, U/C, U/J, A/U, N/U is within 15 pips from the top or bottom of today except E/U!!!

What is wrong with E/U? Some body's stolp loss triggered @5525?
David,
Why do you cloud your mind with all these kinds of assumptions, guesses, and hallucinations. You sure no one spike your cigs?

Please go do you homework, after so many months, I do not think you got it right at all. 300pages.

regards
  • #4,666
  • Aug 1, 2008 2:35pm Aug 1, 2008 2:35pm
Quoting Green_David
I am smoking Red Marlbolo.

David, are your smokes giving you signals?

(look closely and tell me if you see the bull)

Wish I could be with you guys but I'm in the middle of moving to another country. Stress stress stress.

fti, I thought Leigh left her whip with you.
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  • #4,667
  • Aug 1, 2008 2:36pm Aug 1, 2008 2:36pm
hey all
have a great weekend , all of us had a great week , either learned something or made money (or maybe even both) ,
so good night and have fun
To Live is the rarest thing in the world , Most people exist , that is all
  • #4,668
  • Aug 1, 2008 2:41pm Aug 1, 2008 2:41pm
OK, guys. Night cat will go to sleep.

There are endless pips and profits in the market. Trade well. See you next week.

Next week there will be interest decisions announcement.
  • #4,669
  • Aug 1, 2008 2:48pm Aug 1, 2008 2:48pm
Quoting ianf0ster
Hi All,
I have had yet another confusing day reading this thread.

As I recall, FTI says;

1. ignore S/R - so why the post about not attacking until below 50 ?
we pay attention to fortified casltes and don't attack till we see signs of weekness.

2. Dont use Elliot - so why are people counting the numbers of waves and deciding if they are Impulse waves or not?
we watch for the basic elliot wave principal of 5 waves three primary two counter. But nothing is written in stone "heads up"

3. Don't go against the trend - but there are so many trends. When I determine the trend for a timeframe in the most basic way - is it up or down from left hand side of chart. Then for me the E/U daily is Up , the 1Hr is down and on the 5 min it has been completely flat for most of the day - it has just turned down about 1 hour ago. So we take our pick - long , short or stay out.
It takes a lot of practice to get in the rythem of the dance be patiant and demo lots it will become apparent after a while

Ian

Thats my take on it
  • #4,670
  • Aug 1, 2008 2:48pm Aug 1, 2008 2:48pm
Quoting ianf0ster
Hi All,
I have had yet another confusing day reading this thread.

As I recall, FTI says;

1. ignore S/R - so why the post about not attacking until below 50 ?
If I told you the reason, you would have to find a rock to hide under for you reading and comprehension.

2. Dont use Elliot - so why are people counting the numbers of waves and deciding if they are Impulse waves or not?
You didn;t read about my comments about E waves , did you, be honest.

3. Don't go against the trend - but there are so many trends. When I determine the trend for a timeframe in the most basic way - is it up or down from left hand side of chart. Then for me the E/U daily is Up , the 1Hr is down and on the 5 min it has been completely flat for most of the day - it has just turned down about 1 hour ago. So we take our pick - long , short or stay out.You have little understanding about trends. Tell me what is the basic defination of a trend?

Ian
Another one , back to your homework. It was all given, and I don't want to do it all over again.

regards
  • #4,671
  • Aug 1, 2008 2:49pm Aug 1, 2008 2:49pm
Quoting fti
David,
Why do you cloud your mind with all these kinds of assumptions, guesses, and hallucinations. You sure no one spike your cigs?

Please go do you homework, after so many months, I do not think you got it right at all. 300pages.

regards
I never trade into 2:00 PM NY time except there is fig, news, it is my first time.

Sharks in CME? OK, the biggest shark is the scopion inside me. Before they swallow me, I eat myself already.

You are so tough teacher, even no complaints on pair dis-syncrinization.

BTW, I find that trading deep into the night will get me excited. What about you?
  • #4,672
  • Aug 1, 2008 2:50pm Aug 1, 2008 2:50pm
fti, perhaps your system can be automated one day, but not yet.

http://cbcl.mit.edu/cbcl/news/files/liu-tp-picower.html
  • #4,673
  • Aug 1, 2008 2:53pm Aug 1, 2008 2:53pm
Quoting Zoran
David, are your smokes giving you signals?

(look closely and tell me if you see the bull)

Wish I could be with you guys but I'm in the middle of moving to another country. Stress stress stress.

fti, I thought Leigh left her whip with you.
Well, smoking can be so artistic.

Stress, stress, stress? OK, you better smoke, smoke, smoke like FTI and me.

Bad news: now I increased smoking by 50%. 3 packages 2 days.

Good news: I never give up quitting smoking and my account also increased by 50% in July. So, if I increase smoking 100%, maybe my account will also increase by 100%?

What would you think?
  • #4,674
  • Edited 3:09pm Aug 1, 2008 2:53pm | Edited 3:09pm
Quoting Zoran
fti, perhaps your system can be automated one day, but not yet.

http://cbcl.mit.edu/cbcl/news/files/liu-tp-picower.html
Hi Zoran,
Sure, And I would spend another 5 million on the programmers, again.
Thanks but NO.

I refuse to be a tech pioneer, aka sucker.
You wanna buy my apple 2e for S$30,000.
It has enhanced 64K memory with integer card, plus enhance graphics adapter and a BMC monitor, top of range. not forgetting 2 floppy disk drives.

If you would please study about analog and digital. Digital is inferior by leaps. i GUESS i WILL STAY WITH nanonano TECH, INSTEAD.

regards
  • #4,675
  • Aug 1, 2008 2:56pm Aug 1, 2008 2:56pm
Wow, E/U now 5534, I made less by 20 pips. But it is fine. Next week.
  • #4,676
  • Aug 1, 2008 3:10pm Aug 1, 2008 3:10pm
Quoting Green_David
Wow, E/U now 5534, I made less by 20 pips. But it is fine. Next week.
My goodness, and you managed to sell at 15585, yes !.
  • #4,677
  • Aug 1, 2008 3:11pm Aug 1, 2008 3:11pm
David, it sounds logical but what will it do to your life expectancy? Somehow I don't think nature intended us to sit in front of a screen all day smoking.

fti, I was close to buying an original Apple II the other day on ebay. It sold for £78 with 128k RAM. No screen though but it's the first time I've seen one.

http://cgi.ebay.co.uk/ws/eBayISAPI.d...MEWA:IT&ih=016

Someone just needs to design the "feel" algorithm on a trinary computer and I think we're half way there. We can download the rest from your brain. I think we need to be a little creative otherwise you are right, programmers will suck you dry.
  • #4,678
  • Aug 1, 2008 3:19pm Aug 1, 2008 3:19pm
Quoting Zoran
David, it sounds logical but what will it do to your life expectancy? Somehow I don't think nature intended us to sit in front of a screen all day smoking.

fti, I was close to buying an original Apple II the other day on ebay. It sold for £78 with 128k RAM. No screen though but it's the first time I've seen one.

http://cgi.ebay.co.uk/ws/eBayISAPI.d...MEWA:IT&ih=016

Someone just needs to design the "feel" algorithm on a trinary computer and I think we're half way there. We can download the rest from your brain. I think we need to be a little creative otherwise you are right, programmers will suck you dry.
Nah, that cannot be original. the original comes with 32K on the board, mine is enhanced with a 32K card. Thats probably PINEAPPLE.
  • #4,679
  • Aug 1, 2008 3:30pm Aug 1, 2008 3:30pm
Quoting fti
Nah, that cannot be original. the original comes with 32K on the board, mine is enhanced with a 32K card. Thats probably PINEAPPLE.
If you clicked on the link, you would see memory was added - but 128k sounds like a lot in those days. My first computer was bought around the same time and had 16k (which we later upgraded to 32k).
  • #4,680
  • Aug 1, 2008 3:44pm Aug 1, 2008 3:44pm
I wanted to ask you about delta hedge technique for some time now. Is it related to options in any way?

Thanks
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