Hi fti and all guys, wonderful thread you have here fti I have been following this thread for a while and so far I have been adapted to using naked charts and learning to dance en flow with PA. Am still having problems with the attack and rescue sequence which Iam sure I will get when I read the thread over and over again and with the help of ya all. Pips to all.
Technical Analysis Fallacy
actually u struck a point. in reality there are no rules, but humans being humans needs guidelines just so that they wont go astray. lol. we tend to box oursleves over and over again. its evident in my pvs posts too. how alarming!
to come to terms with this, all you need to do is pull a random trade...and let the mental setup settle everything, trading is indeed very much a mindset approach. What you really need to succeed .... is to own money you really meant to throw away. hahaha, and that settles half the battle.
most of the time i find myslef caught up in a profit protection battle rather than pruning it, why is that so? attachment....
so what are the rules? nothing really, it removes all sort of rigidity, all that matters is....how positive is ur book and how much pressure can u take before u succumb?
no matter what antiques you play, the market will continue to adapt and re-adapt. thus fti has shared one of the most important thing, the only way for you to keep the stop losses away is to pace the market....that word pace...has a very important meaning. you dont ever try to beat her, pace her, if she moves forward u move forward, if she moves backward while ur were pacing her forward, give her sometime, see if she tracks back to u, else, chase her or seduce her (if you can) lol.
good day billionaire
You highlighted (in blue) emotional aspect in trading. Frankly, I would like to say I agreed that trading maybe 90% about mental/mindset kind of things. I said so because I have experienced the "dilemma" feelings in trading.
Just put any trading method/style aside first. If we ignore the spread/commission, just a simple thought, price either up or down, 50/50, why so difficult? why the saying 95% lose/failed? are the 95% traders zero IQ? Ha! Ha! Basically, the main culprit is our human being born nature; I notice that we must to a great extent act against our human nature in order to have edge in trading, and you know how HARD is that to act against our human nature/own mindset, Ha! Ha! That is why my previous trading record and my friends' shown a funny thing : we are so stingy in earning $ but so generous in loosing $
. What are the natures? platitude : human hate loss, feel as twice suffering/pain for an amount of loss over the same amount of profit etc. We don't have a style or strategy in trading, just like not know enough information, knowledges, having insufficient weapons, no strategies/flexibility etc will tend to be defeated in battlefields. We tend to risk a % of risk to get profit initially, but always ended up risking bigger % of risk in order not to lose, I actually don't say whether this is right or wrong, because it depends how you do it! right?
To tell what did I think of previously when I trade, maybe a bit funny:
Firstly, if I long, this mean I "guess" the price will go up. It did go up and then looks like stalling, comes the dilemma feelings: if I hold, what if the price drops? but if I sell, what if the price goes up & up later? (I think this involves things like greed, fear, hope, cannot let go etc). Ok, If I decided to take profit, is this mean that I "guess" the price will not go up further then? If so, is this means that the price will drop? (If not up, then down, right?) If so, why I just take profit and did not put a reverse position? At the end, is it means that I was not sure the directions of the price acton then, so just quit & observe waiting another entry opportunity? Then, what is my entry strategy, does it have an edge?.......
In order to make profit at the end, given an amount of time/period and a number of trading txns, we must achieve either (if cannot be both) the following:
1) the amount of profit more than loss.
2) the no. of profit txns more than losing txns.
But, how? any method/style of trading can achieve this in the long run?
regards,
Note: Whatever I said is my thought only and welcome different thoughts.
- #5,444
- Aug 19, 2008 3:14am Aug 19, 2008 3:14am
fti
will you pleeeeeese stop editing your posts...for those of us (i'm sure there are many)delving in the archives of this thread it is very difficult. We come up for air occasionally to keep pace and try to contribute but lately.....ego's
.
No trading for me today, (domestic issues, no violence, kitchen installation issues) maybe later
Anyway, I will be eternally grateful for the way I no longer come home from work and do a brief analysis and place my trade on set rules, eg.. stop 10 pips below prior candle and t/p 1 & 1/2 risk...what a long way I have come...and I paid a lot of money for this knowledge
as i"m sure a lot of you can relate.
Anyway to all you newcomers to this thread please take the time and delve into the treasures it contains...and please ask questions but only after you have read the thread...fti is a softy really he just gets a bit crabby with the oldtimers to pull them back inline
(isn't he cute)
wouldn't it be great if we could see who was viewing each page as we moved thru thread...
anyway enough from me...sorry fti I started off talking to you and got somewhat off track
joy
will you pleeeeeese stop editing your posts...for those of us (i'm sure there are many)delving in the archives of this thread it is very difficult. We come up for air occasionally to keep pace and try to contribute but lately.....ego's
.No trading for me today, (domestic issues, no violence, kitchen installation issues) maybe later
Anyway, I will be eternally grateful for the way I no longer come home from work and do a brief analysis and place my trade on set rules, eg.. stop 10 pips below prior candle and t/p 1 & 1/2 risk...what a long way I have come...and I paid a lot of money for this knowledge
as i"m sure a lot of you can relate.Anyway to all you newcomers to this thread please take the time and delve into the treasures it contains...and please ask questions but only after you have read the thread...fti is a softy really he just gets a bit crabby with the oldtimers to pull them back inline
(isn't he cute)wouldn't it be great if we could see who was viewing each page as we moved thru thread...
anyway enough from me...sorry fti I started off talking to you and got somewhat off track
joy
- #5,445
- Aug 19, 2008 4:01am Aug 19, 2008 4:01am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
fti
will you pleeeeeese stop editing your posts...for those of us (i'm sure there are many)delving in the archives of this thread it is very difficult. We come up for air occasionally to keep pace and try to contribute but lately.....ego's.
No trading for me today, (domestic issues, no violence, kitchen installation issues) maybe later
Anyway, I will be eternally grateful for the way I no longer come home from work and do a brief analysis and place my trade on set rules, eg.. stop 10 pips below prior candle and t/p 1 & 1/2 risk...what a long way I have come...and I paid a lot of money for this knowledge as i"m sure a lot of you can relate.
Anyway to all you newcomers to this thread please take the time and delve into the treasures it contains...and please ask questions but only after you have read the thread...fti is a softy really he just gets a bit crabby with the oldtimers to pull them back inline
wouldn't it be great if we could see who was viewing each page as we moved thru thread...
anyway enough from me...sorry fti I started off talking to you and got somewhat off track
joy
Domestic problems !
Ahh really , no violence ? erk hope he's not coming over with his katana to split me into 2.
And you said you had no one looking over your shoulders. ya, I believe you.
He's going after your kitchen first , right.
Jugging work and trading, you have to be superwoman.
Hope you're not dispensing medication to the sick or running any machinery.
Could get dangerous, with the amount of sleep that you get.
By the way , did you receive the files yet?
regards
oops, anyone got your stops sweeped?
- #5,446
- Aug 19, 2008 4:15am Aug 19, 2008 4:15am
- Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts
oops, anyone got your stops sweeped?
are we supposed to have stops?
- #5,447
- Edited 4:32am Aug 19, 2008 4:15am | Edited 4:32am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
- #5,451
- Edited 4:51am Aug 19, 2008 4:35am | Edited 4:51am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
No,
Buy stops, now lets see how sturborn the USD bears and knife catchers wanna be.
This stampede is killing them by the truckloads.
regards
Ah 1.4 666, even he wants to play.
another sweep buy stop coming again?
regards,
- #5,453
- Aug 19, 2008 4:59am Aug 19, 2008 4:59am
- Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts
- #5,455
- Edited 5:34am Aug 19, 2008 5:05am | Edited 5:34am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
- #5,456
- Aug 19, 2008 5:43am Aug 19, 2008 5:43am
hello again everyone
no duckies in this thread I hope!
Thanks fti the eagle has landed...my own copy of kybalion arrived today all the way from the good old U.S.A. Amazing that law of attraction....I'm a long term believer...didn't know that was what you were referring to.
David...back in archives reading one of your posts. Hope you are not too exhausted when you return to us....
joy
no duckies in this thread I hope!
Thanks fti the eagle has landed...my own copy of kybalion arrived today all the way from the good old U.S.A.
Amazing that law of attraction....I'm a long term believer...didn't know that was what you were referring to.David...back in archives reading one of your posts. Hope you are not too exhausted when you return to us....
joy
