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Technical Analysis Fallacy

  • #5,361
  • Aug 15, 2008 2:28pm Aug 15, 2008 2:28pm
I think I will chime in once again with a few thoughts.

1)capitalization (you need it) for the proper dance.
2)ants work, start small and work your way up it will compound over time.
3)The scout, my scout is very small and can bleed for a long time before I start to fret over it. If I have to wait for the proper time to rescue I can wait it out.
4)with my small scout flowing with the market I can easily rescue or quickly add my big guns to the fight for a quick attack.
5)dance with the flow, everyone talks about banks ,oil,gold, etc. but the true teller of the story is price action. Watch the dance!
6)the skew, it can be added to as needed and your feel of the market will dictate that just keep your progression in sync with the fib. #. You can skip into higher levels if you feel confident.
7)Time, I have a trade and it took me 5 years to get my ticket ,and when I finally did I didn't all of a sudden know everything(i'm still learning) PATIENTS!

After saying all that My scorpion is proper scout entry. But, I'm getting quite proficient at rescuing.

Thanks again fti for keeping my book in the +++
  • #5,362
  • Edited Aug 16, 2008 3:32am Aug 15, 2008 3:15pm | Edited Aug 16, 2008 3:32am
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  • #5,363
  • Aug 15, 2008 4:43pm Aug 15, 2008 4:43pm
Quoting musgrove
I think I will chime in once again with a few thoughts.

1)capitalization (you need it) for the proper dance.
2)ants work, start small and work your way up it will compound over time.
3)The scout, my scout is very small and can bleed for a long time before I start to fret over it. If I have to wait for the proper time to rescue I can wait it out.
4)with my small scout flowing with the market I can easily rescue or quickly add my big guns to the fight for a quick attack.
5)dance with the flow, everyone talks about banks ,oil,gold, etc. but the true teller of the story is price action. Watch the dance!
6)the skew, it can be added to as needed and your feel of the market will dictate that just keep your progression in sync with the fib. #. You can skip into higher levels if you feel confident.
7)Time, I have a trade and it took me 5 years to get my ticket ,and when I finally did I didn't all of a sudden know everything(i'm still learning) PATIENTS!

After saying all that My scorpion is proper scout entry. But, I'm getting quite proficient at rescuing.

Thanks again fti for keeping my book in the +++
Hi musgrove,
You"re welcome.
Keep up the form, hold to basics.
Dance well.

Good fortune.

regards
  • #5,364
  • Aug 15, 2008 10:48pm Aug 15, 2008 10:48pm
It's the weekend and I have had a chance to catch up on the posts to this thread from the past week.

It was a great trading week, and I hope by now everyone has figured the dollar bulls are in charge. Follow that trend until it stalls and then count your money.

I get the impression that some of the new traders have been reading FOREX books. These books are not worth the money, let alone the precious time it takes to read them. Read this thread, spend some time (several months or years) back testing charts, and start trading in a demo account, and you will get the fight ideas. Instead of forex books, I think many traders would benefit from reading up on a few economics topics: money and banking, macro economics, and international economics. Try to learn something about fundamentals and how the world economy works. If you understand how things work and what really matters, then you won't worry about them so much.

Careful about who you listen to during the day. People like Jim Rogers (he has been predicting the demise of the US since the early 1980 -- what a pure jackass) and George Soros are not to be trusted. When they are on TV bad mouthing some institution or government, you can bet that institution or government has just done something that cost them money. You can have a forex/banking system/economy run by the FED/BOE/ECB/BOJ/etc, or one run by the likes of Rogers/Soros.

Looking to next week: trends are still either a. dollar bullish or b. EUR/GBP bearish (this one is my choice), but we are due for a retracement (only trade a retracement if you know what the heck you are doing -- trust me, none of you have enough money to rescue a trade against this trend if it continues).
Good trading,
Rap
  • #5,365
  • Aug 15, 2008 10:57pm Aug 15, 2008 10:57pm
Quoting rapaduski1
...

Looking to next week: trends are still either a. dollar bullish or b. EUR/GBP bearish (this one is my choice), but we are due for a retracement (only trade a retracement if you know what the heck you are doing -- trust me, none of you have enough money to rescue a trade against this trend if it continues).
Good trading,
Rap
I'm guessing Fti would comment: I see a weakness in mindset
Read 'The disciplined trader'.
  • #5,366
  • Edited 3:04pm Aug 16, 2008 1:17am | Edited 3:04pm
Hi all!
I have some thoughts I 'd like to share with others!!I've already read 1/3 of this tread
I've been thinking about it.
One can not understand so easily the other when one 's not in the same boat, but one can understand if one share the same procedure with the other at the same environment!!We should be fair to each other!! But on the other hand we should respect to ones such Fti showing courtesy to us and saying hey folks wake up!! this is the reality of bank traders environment and I 'd like to share with you!!

I believe the main reason most people have conflict with Fti approach to trading is because most of us began to trading through books we read or course we took . That is completely make us to handicapped to grasp this approach properly.Without enough capital one can not trade the way he trades! or not worth it to make that amount of money base on strategy he tries to teach us That must be clear for now!! It's long journey and requires unusual strength and patience!! For those who have not enough capital!!

But,Fti needs to understand (actually I believe he knows very well!!cause he dealt with them in banking environment under different circumstances!!)from the message he gets from the people who he 's been trying to teach or expecting positive feed back are coming from very different background, and he must understand that most of us through disinformation had already learned some stuff that we can not help but consider when we take a trade or not!!So there is big problem lies there(I believe Zoran was emphasizing on this a lot!!)

Another problem is unknown unknowns are very scary for most of people particularly highly educated reason- outcome looking ones !
Herd physiology or human behavior analysis based on ,doesn't matter , news manipulation , chart analysis fallacy, lack of observation of momentum-volatility ,not grasping multiple candle formation evolution and reacting accordingly, following through time frames and wave analysis,or intervention by big dogs!!

It's very scary for most of the people to say that they're dealing with something they can not categorize or set rules accordingly other than facing reality that naked PA is the key and dealing with it with proper MM is worth it even if you're under capitalized!!
Have feeling for the market and fighting in guerrilla war fair and considering seen by the enemy every time requires a unique approach one can find out only with his/her way with the time .
Regards!
  • #5,367
  • Edited 2:21am Aug 16, 2008 1:58am | Edited 2:21am
Hi again!!
I did trade this way before!Even I did not know about this thrade I began to trade this way maybe not with proper money management ,but I Did it!! and I made money most of time but it was very scary and required high level focused!! I remember even though price action 's going against me I's looking to different time level to be able to fight back !! But I remember it was naked PA action and I's looking from ticks to 1 minute to 5,15,60 minutes charts!(Even though most of the time my broker 's freezing my platform or not allowing me to see different time frames at the same time)
What I remembered that I was most of time not so emotional but reacting to PA !! But most of them took 3-4 hours !! And I didn't mind to cut the lose and reverse the position or if I was right on trade direction I 'd have fought back and came out with profit!! But then I thought myself saying myself that can't be SO!!Cause I had nothing but just those candles and just watching them and I's reacting to them!!AND THEN I QUIT ON THAT APPROACH TURNED BACK TO INDICATORS CLASSIC TA !! Then as you might guess what happen!! So that 's the main reason I've interest to this tread!!
Regards!!
  • #5,368
  • Aug 16, 2008 5:35am Aug 16, 2008 5:35am
hello everyone

My favourite place to be at the weekend is right here. Just as well I don't have a husband he might suspect an online affair and he would be right an affair to remember with TAF

fti... way back in the archives you mentioned your initial intentions to present basics of mindset and point to true basic and applicable T.A.(the old school). Do you mean basic S/R, candle formations and chart patterns. Sorry if being a nuisance but you did say keep asking questions till you understand. It's just that in subsequent posts you have stated forget s/r and LuSan shows s/r on his charts and you say this is wrong. I don't have any lines on my charts but am aware of major s/r areas and also candle formations and patterns. You were right they stand out without the lines and you see so much more and more quickly.
I know I am progressing but don't post charts of my trades as don't wish to distract from your teaching newcomers to thread. However i will post if i get myself into trouble and need your help

Thank you so much for sharing your music and private memories of Teng Li Jun, such a sad story and I still feel sad. I would love a c.d. or d.v.d of hers and will try online as my music store couldn't help(or wouldn't).
The candles have become like music to me with all their moods, thank you fti and watch this space I am determined to become one of your star pupils.

our challenges are there in order to lead us to a greater awareness

joy
  • #5,369
  • Edited 9:11am Aug 16, 2008 7:37am | Edited 9:11am
Quoting hpr
I'm guessing Fti would comment: I see a weakness in mindset
I would not guess that, because he, too, can read a chart and determine the trend. The TA he does and that everyone had better do, will suggest that a lot of money has poured into the dollar over the last two weeks. Go back and look at any day chart and observe what happens after a large move like we have just had. Think about what you have learned in this thread about market liquidity and you might at least be open to the possibility of a retracement. Many participants of this thread have asked questions about the difference between a pull back and a change in trend. If you can't tell the difference, you might want to be careful next week. Until the trend changes, it still favors dollar bulls.
  • #5,370
  • Aug 16, 2008 11:22am Aug 16, 2008 11:22am
Hi fratti,

if you formatted your posts with spaces between paragraphs and stop using exclamations at the end of every sentence, it would make your posts much easier to read..

appreciate that if you would do that please.

cheers
  • #5,371
  • Aug 16, 2008 9:24pm Aug 16, 2008 9:24pm
As I'm consantly going through this thread for answers, I've come to notice there are some members here that have helped me almost as much as fti. These people have asked the questions and figured out most Of the answers to most of the stuff I've needed to know.
So I would like to give thanks to some Lusan, Green David, Zoran, Dutch Angel, lilpip, Alexfot and of course Leighwws.
There are more people I could thank but the list would get really long. So to all the other good job for contibuting.
  • #5,372
  • Edited 7:40am Aug 17, 2008 1:38am | Edited 7:40am
Hi ALL,

The Tang poems.
The Chinese Classics about life, honour, chilvarism.
These is a short excerpt of it.
Inserted Video

Inserted Video

This is a life long pursuit.


Teng LiJin - Human faced Peach flower.
Her interpretation of her life.
Inserted Video

The corner stones of her Honour, Filial Piety, self-sacrifice, coping pain and loneliness, surrender to heaven (fate), determination, discipline. The spirit of Chilvarism.

The excuses of her strength and stamina.
Is this stupidity? Many this days will say that.
That is because many don't understand Honour.

regards

Yes, 愛につつまれ
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Yes, kono mama watashi wa, anata ni naritai
Yes, just as I am now, I want to turn into you
Sono hitomi no naka ni, tokete shimai
(if) by melting myself into your eyes
Onaji yorokobi mo, donna kanashimi mo
the same joys as well as any sorrows
Wakachiaeru nara
I could share with you

--Refrain--
Anata no karada ni nari, kanjiru koto dekiru
I could turn into your body and feel
Asa no hikari mo, sora no aosa mo
(as) morning lights and the blue of the skies
Ai ni tsutsumare, kagayaku kara
shine surrounded by love

Yes, watashi no subete o, anata ni agetai
Yes, I want to give you all of me
Sono ude ni dakarete, iki o tomete
held in those arms and holding my breath
Toki no sugiru mama, koi o shita mama de
as time passes, while loving each other
Hitotsu ni naretara
(if) I could become one with you

Anata no kokoro ni nari, tokimeku koto dekiru
I could turn into your soul with my heart pounding
Yoru no fukasa mo, yume no fushigi mo
(as) the depth of the night and the wonders of dreams
Ai ni tsutsumare, kagayaku kara
shine surrounded by love

--Refrain--



PSSS AND WHOSOEVER IS PACING ME AND FLAGGING FOR THE KILLING OF THE SHARED YOUTUBE VIDEOS, YOU SHOULD BE ASHAMED OF YOURSELF, MAY GOD HAVE MERCY ON YOUR SOUL.
  • #5,373
  • Aug 17, 2008 1:45am Aug 17, 2008 1:45am
Hi fti,

can you explain about honour intrade ?

someone i knew with honour and i respect him is a man like guan yu.

regards,,,
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,374
  • Aug 17, 2008 2:25am Aug 17, 2008 2:25am
Quoting fti
Hi notme32,

There is no such thing as "honour in trade".
Honour is alive , it lives in the trader, it have no smell, cannot be seen,has no colour.

If you have no honour, that you will not know it.

regards
thanks,
yes, i not know it yet.
the explanation is enlight me, so i thought discipline and patience is a big part of honour, and dance with greed is other part.

my capitalization is small, so i pick batllefield with small volatile with small wave when the market start ranging , so i can in and out fast. Did i choose right thing to do ?

thanks in advance,,,
I Deeply Love My Virtual Life In Virtual World , RLC
  • #5,375
  • Aug 17, 2008 4:03am Aug 17, 2008 4:03am
Quoting fti
PSSS AND WHOSOEVER IS PACING ME AND FLAGGING FOR THE KILLING OF THE SHARED, YOU SHOULD BE ASHAMED OF YOURSELF, MAY GOD HAVE MERCY ON YOUR SOUL.
Hi fti, mind explaining what does that mean? Sounds interesting
Read 'The disciplined trader'.
  • #5,376
  • Aug 17, 2008 9:04am Aug 17, 2008 9:04am
Quoting joypips
Thank you so much for sharing your music and private memories of Teng Li Jun, such a sad story and I still feel sad. I would love a c.d. or d.v.d of hers and will try online as my music store couldn't help(or wouldn't).
The candles have become like music to me with all their moods, thank you fti and watch this space I am determined to become one of your star pupils.

our challenges are there in order to lead us to a greater awareness

joy
http://www.amazon.com/s/ref=nb_ss_gw...a+Teng&x=0&y=0

as I understand Teresa Teng is an alias for Teng Li Jun.
  • #5,377
  • Aug 17, 2008 9:20am Aug 17, 2008 9:20am
Quoting hpr
Hi fti, mind explaining what does that mean? Sounds interesting
It is not interesting at all, somebody is false flagging posted youtube videos as explicit content, nudity etc.. which they are not.

quote from glossary:
Flag as Inappropriate - If you believe a video violates YouTube's Terms of Use, you may flag it from the watch page.
  • #5,378
  • Edited 10:00am Aug 17, 2008 9:25am | Edited 10:00am
Quoting piccolo
http://www.amazon.com/s/ref=nb_ss_gw...a+Teng&x=0&y=0

as I understand Teresa Teng is an alias for Teng Li Jun.
Yes. Teresa Teng is her stage name.

regards

LiJun's Flow like the river.
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unfortunately , one cannot win in all.
But the guts to challenge , says all.
I wouldn't expect anything less of her.


The master.
Inserted Video
  • #5,379
  • Aug 17, 2008 9:25am Aug 17, 2008 9:25am
Quoting notme32
thanks,
yes, i not know it yet.
the explanation is enlight me, so i thought discipline and patience is a big part of honour, and dance with greed is other part.

my capitalization is small, so i pick batllefield with small volatile with small wave when the market start ranging , so i can in and out fast. Did i choose right thing to do ?

thanks in advance,,,
you mean honor? (I don't know the word honour) what does it have to to with trading? as I see it, honor comes in only when you do something unjustified and exploit others inability to react. like shorting NYSE at september 11 and events like that.
  • #5,380
  • Aug 17, 2008 11:49am Aug 17, 2008 11:49am
Quoting fti
Hi,
You need to broaden your perspectives.

http://en.wikipedia.org/wiki/America...ng_differences

Your honour, determines your mental robustness. That determines your responses to ALL things in your life.

regards
I knew the differences but did not know that honour was among them, heh. I will shut up now for a while.
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