Technical Analysis Fallacy

Quoting lilpip

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Feels like I'll be sitting on the bull on into the asian session, hate to trade against it till it shows me somethin different.

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Quoting auxesis

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Seems there's some sentiment out there that a retrace is due, what goes up must come down, down up attitude. But any question that was there as price formed a triangle all week ,was put to bed as the top was hammered back down and broke out the bottom.

Only thing is be very cautious as the Euro zone is on Holidays tomorrow, market may be thin later on.

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Quoting auxesis

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Fti,

Yes, comments received and well taken thank you, I was more referring to some other threads here at FF.

The Dollar is King for the moment.

regards,

a

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Quoting fti

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Thats much better, King or not, you dance her.

" "

Let see if the traders who trade their own portfolios, can carry the batton.

regards

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It looks like the treasuries are being overun by college managers and bookworms. I don't see many that can carry the job.

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After some rogue trading by the wannabes, there is so much red tape and risk management imposed on the newer generation of TMs and dealers that, most of the good skills are being lost. This is because , the new generation of dealers only does trades back to back on exposures to protect their behind.
As we move forward, they will become obsolete.

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Skillful traders do not talk market, they lISTEN to market not traders.

Quoting jest1081

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This is also the reason why i shy away from the forums when im in an active trade. I dont want to get those, 'ahhhh' moment. Not saying that im skillfull, but surely a wannabe to the quote above. lol

jest

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Quote:
After some rogue trading by the wannabes, there is so much red tape and risk management imposed on the newer generation of TMs and dealers that, most of the good skills are being lost. This is because , the new generation of dealers only does trades back to back on exposures to protect their behind.
As we move forward, they will become obsolete.

can you explain the above in more detail? I would love to hear the stories. This is like market wizard. hehehe.

Why will they become obsolete?
and what do you mean by trading back to back on exposures? Sry these things are foreign to me. pardon my inability to catch.

Quoting fti

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Hi jest,
Watch that Egor, overcome it.

In terms of position into figs, if you wanted to bet on the figs, make sure that you have at least 3 big fig foreign capital to back up every exposure.

'I had ever trade 8 phening move ' What does this mean, I dont understand? on fig releases in USD/DMK. Be mindful, just because you haven seen such yet, doesn't mean it will not happen.


Whether you want to risk into figs, is your own decision.
But make sure you have sfficient $$ to backup your gamble.
Always have a buffer.

If you were riding a trend into the figs, you may have to risk.
Like I said, have contingencies.

regards

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You dont understand the beauty of the forums, when everyone is pointing in one direction, DO THE OPPOSITE!

Quoting jest1081

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hi all,

the bears are still hunting, but their preys seems to be hiding.

e current consolidation suggesting buyers are willing to accept this level. no real movements yet, proly waiting for europe.

YEN hinted some upside may be on the way, so dollar bears better beware, don go catching a a falling knife, at least not yet.
[...]

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Quoting fti

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This is where most of the traders fail in.
Thats why traders must have multiple levels and strategies.

The mistaken frame of mind of small traders, is when their positions are in profit, they start looking for take profit levels. and then the frame of mind inhibits their ability to ride.

For position traders ( term positioning), they have the right frame of mind, after positioning profitabily, they put stop loss order and allow the position to ride, using the stop loss as their thinking mechanism. In this MO, they mostly fail due to their inattentiveness to the market, so they do not baby sit their positions and are non reactive to changes , therefore mostly let their profits get eroded from them.

regards

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Quoting fti

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Thats much better, King or not, you dance her.

You see, auxesis,
The reason for me giving all this away to non institution players, is cos' , these days far east have lost most of their good market makers and traders.
Compared to my hot days, there were so many of us around.

After some rogue trading by the wannabes, there is so much red tape and risk management imposed on the newer generation of TMs and dealers that, most of the good skills are being lost. This is because , the new generation of dealers only does trades back to back on exposures to protect their behind.
As we move forward, they will become obsolete.

I look forward that , the market players may carry the ability to trade , the traditional way in the future. It looks like the treasuries are being overun by college managers and bookworms. I don't see many that can carry the job.

Let see if the traders who trade their own portfolios, can carry the batton.

This is not meant to insult anyone, but just think what type of mindset a traders carries, when long the dollar bit thinking retracement. The only thing that it will do is to make you nervous on every quote flash.
How much of that jumpyness can you absorb before you start making nervous trade decision?

Can a nervous trader ride moves?
Can a nervous trader think and strategies?

It was very wise traders, who commented in some writings, that the reasons why they are profitable is because they DO NOT listen to a lot of junk that is circulated in the marketplace.
They seek facts and they think and strategise for themselves, instead of depending on the propaganda.

Skillful traders do not talk market, they lISTEN to market not traders.

One of the best methods is to watch her footprints in price charts and being aware of the driving fundamentals that may pose dangerous to book.

regards

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Quoting jest1081

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fti, is this happening in ur pvs workplace?
You could have stopped it from happening aite?
No, I am retired. I receive some request from my understudies to speak to the TMs about the new treasury protocols. They hoped that the new managers would listen to the old cooks. But what I had encountered was ego at the highest order. The the younger thay are the bigger the chip on their shoulder.


Well, thats what they get when they have PHDs trading fer ya.
I have no problems with education levels nor qualifications, just that it seems when they have paper, they think they know all. Its sad that these people supposedly to be "educated" tends to have little education.


can you explain the above in more detail? I would love to hear the stories. This is like market wizard. hehehe.
What storys are you relating to?

Why will they become obsolete?
and what do you mean by trading back to back on exposures? Sry these things are foreign to me. pardon my inability to catch.

"Back to back" is the glossary to mean to fill orders without taking risk.
Example. the brokers you use. they have your orders, yes.
let say you wanna buy USD/ABC at 1.0000. They carry these orders and when it comes to the level, they don't fill the customers immediately. They go looking for prices everywhere. And when they find a bid for 1.0002 then they hit the quoting party and fill the customer at 1.0000. Thats why these days at extreme prices, theres much disputes with customers in terms of fills. In the old days , we absorb the customer i our book as soon as the level is at the money and trade the position to the best of our ability. The customer gets his fill immediately, the risk we manage in our books. We were skillful enough then to get at a min 10 pips for the risk taking. These days tey are happy with 2 pip and do the musical chair dance with each other. And they call this skillful risk managing.
If this is skillful managing, then I guess anyduck can be treasury MANAGER.Why do you think and electronic book is developing in retail? If this eCN becomes successful, then treasuries will be resigned to back office operations.

This is also the reason why i shy away from the forums when im in an active trade. I dont want to get those, 'ahhhh' moment. Not saying that im skillfull, but surely a wannabe to the quote above. lol

jest

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Quoting lilpip

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thanks

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Quoting MaMood

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Hi fti,

tonight you have given again very helpful insights to us.
Thanx for that.

Well - things have changed in the trading rooms. Mindsets and approaches are different from yours - may be a little single edged.

Some idea comes to my mind:
If me and some others were able to get your philosophy of trading become our second nature (making constant profits for my living up to my retirement), maybe we should launch a small kind of "fti foundation" to hand down your very valuable insights, the fti way of trading to traders, who are interested in. To people, that see the intrinsic values of your philosophy in in trading and life ....

As someone, that I hold in high regard would say:
Battlestations .... ;-)

p.s.: fti = "forex traders intrinsics", "forex traders insights" ;-)

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