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Technical Analysis Fallacy

  • #5,481
  • Aug 19, 2008 6:51am Aug 19, 2008 6:51am
Quoting fti
Hi ALL,


Is it my charts only or is everyone experiencing gaps every where.
According to interbank dealers, the markets are quite smooth.
BUT my charts are like crazy.

A few times , they quoted me 15 pips from my charts and I f them, but they told me that was where the market was.
Then later the charts just gapped there.


regards

Hello fti,

had gaps on the alpari mt4 platform as well... :-|
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 10 KB
  • #5,482
  • Aug 19, 2008 7:02am Aug 19, 2008 7:02am
Quoting MaMood
And jsut another insight of my "rescue adventure" this morning:

Whenever you are doing a rescue with high risk:
If you reach breakeven or you are even close to it, reduce your exposure!
Lol, when you send in the army to rescue the scout - when they find him, they don't sit around and talk sports or the local gossip, when your in enemy territory you high tail it out of there once the mission's complete.
  • #5,483
  • Aug 19, 2008 7:04am Aug 19, 2008 7:04am
Quoting auxesis
Lol, when you send in the army to rescue the scout - when they find him, they don't sit around and talk sports or the local gossip.
...a nice one...
Empty as water and soft as a facing wind mountain
  • #5,484
  • Aug 19, 2008 7:34am Aug 19, 2008 7:34am
Quoting MaMood
Whenever you are doing a rescue with high risk:
If you reach breakeven or you are even close to it, reduce your exposure!
You can get the missing pips/$$ later.
Always reduce your exposure as soon as possible.
i could not agree more.
  • #5,485
  • Aug 19, 2008 7:53am Aug 19, 2008 7:53am
Quoting gfsr
Hello fti,

had gaps on the alpari mt4 platform as well... :-|
Hi gfsr,
You must stay away from these broker.
I am not sure whats happening there, but seems either platform problems or market making structure has failed.
Could be precursor to major upcoming problems.
What we can tell from the customer end is there dealing problems, so I will red flag such brokers.

As customers , what we can only do is to vote with our feets. If brokers have internal problems , we will not be aware. Don't let it get bad before you do the right thing. Anytime you have problem with any brokers, its time to go shopping.


regards
  • #5,486
  • Aug 19, 2008 8:15am Aug 19, 2008 8:15am
Quoting fti
Hi gfsr,
You must stay away from these broker.
I am not sure whats happening there, but seems either platform problems or market making structure has failed.
Could be precursor to major upcoming problems.
What we can tell from the customer end is there dealing problems, so I will red flag such brokers.

As customers , what we can only do is to vote with our feets. If brokers have internal problems , we will not be aware. Don't let it get bad before you do the right thing. Anytime you have problem with any brokers, its time to go shopping.


regards
Hello fti,

thanks for the advice.
has happened once before, in mist of battle... it's really frustrating and you lose the focus(zone)..had to premature end battle, trying to figure if it's the markets or them. lucky, for me only small exposures. time to go shopping.. :-)
  • #5,487
  • Aug 19, 2008 8:24am Aug 19, 2008 8:24am
Quoting gfsr
Hello fti,

thanks for the advice.
has happened once before, in mist of battle... it's really frustrating and you lose the focus(zone)..had to premature end battle, trying to figure if it's the markets or them. lucky, for me only small exposures. time to go shopping.. :-)
Hi gfsr,

Yeah.
The thing is , in retail forex , it seems that it is still in its infancy.
Seems much bugs to iron out.
My experience s that it is very hard to gauge their effenciency.
However, bugs, platform problems, all these problems belong to the brokers.
If they cannot met to mark, there is little we as customers can do.
It is hard enough trading profitabily without having to solve their problems for them.
So unless you can find very professional brokers, the credit risk and systemic risk is very high.

Its best not to make the money than to have these risk that are beyond your control.


regards
  • #5,488
  • Aug 19, 2008 8:37am Aug 19, 2008 8:37am
Hi all,

are there still any USD-bulls dancing this dance?
I'm still USDJPY short ...
  • #5,489
  • Aug 19, 2008 8:53am Aug 19, 2008 8:53am
Quote
are there still any USD-bulls dancing this dance?

Not looking good for USD Bulls right now. E/U 100 pips north with no retrace yet. Maybe time to pull the plug.
Enter Signature
  • #5,490
  • Aug 19, 2008 8:56am Aug 19, 2008 8:56am
Quoting Rainman
Not looking good for USD Bulls right now. E/U 100 pips north with no retrace yet. Maybe time to pull the plug.
I am patient...retracement or congestion always happen, right?
Empty as water and soft as a facing wind mountain
  • #5,491
  • Aug 19, 2008 9:05am Aug 19, 2008 9:05am
Watch your daily charts closely.

Above 70 on the EurUSd is key reversal.
Be aware.
The market will try, the outcome I don't know yet.
Watch out for stop orders above 75.
  • #5,492
  • Aug 19, 2008 9:22am Aug 19, 2008 9:22am
It is outside day bar for Eur/UsD. Will it close outside day key reversal.
That is the million $ qustion now.

According to FF
Federal Reserve Bank of Dallas President Richard Fisher is due to deliver a speech titled "Monetary Policy in a Technology Driven World" at the Progress and Freedom Foundation 2008 Summit, in Aspen. The question is will he talk about the USD rates stance?
If nothing then nothing change. Follow the charts closely.

The whole world is waiting. Hope the market do not trigger stop buys orders prematurely.
Otherwise the fat lady sings, very loud.

regards
  • #5,493
  • Aug 19, 2008 9:30am Aug 19, 2008 9:30am
Hi naga,
when 1 dragon walks into another dragons grounds, its best to show intent.
yes?

I hope every one is short the USD by now.
  • #5,494
  • Aug 19, 2008 9:37am Aug 19, 2008 9:37am
Quoting Rainman
Not looking good for USD Bulls right now. E/U 100 pips north with no retrace yet. Maybe time to pull the plug.
Hi are you still long usd?
The plug was pulled many hours ago.

regards
  • #5,495
  • Aug 19, 2008 9:40am Aug 19, 2008 9:40am
Quoting fti
It is outside day bar for Eur/UsD. Will it close outside day key reversal.
That is the million $ qustion now.

According to FF
Federal Reserve Bank of Dallas President Richard Fisher is due to deliver a speech titled "Monetary Policy in a Technology Driven World" at the Progress and Freedom Foundation 2008 Summit, in Aspen. The question is will he talk about the USD rates stance?
If nothing then nothing change. Follow the charts closely.

The whole world is waiting. Hope the market do not trigger stop buys orders prematurely.
Otherwise the fat lady sings, very loud.

regards
Hi again,

maybe you missed his speach. It started at 1400 GMT.
His main phrases were:

- economy likely grew faster than 1.9% in second quarter of 2008
- Inflation may subside, but if not, Fed must be ready to act
- Growth will decelerate or even 'grind to halt' this year
- Slowdown may extend to 2009, but recovery possible next year
- US housing market has 'Yet to find his bottom'
  • #5,496
  • Aug 19, 2008 9:41am Aug 19, 2008 9:41am
Still long E/U basis 14677

-2.8 book
Enter Signature
  • #5,497
  • Aug 19, 2008 9:41am Aug 19, 2008 9:41am
Hi guys...

Whew! I just blew another account (the 5th now I think). I will be off forex for a while until I can put myself together again. I think I have been grossly undercapitalised most of the time with less that $1000 on each account. Well the experience is priceless.

I will mobilize again for the future. Maybe then I will be adequately capitalized to be dance properly. Until then, I want to thank Fti, Lusan, Green David, Mahmood and all the active contributors to this thread. Its been great here.
No regrets whatsoever.

I will pop in once in a while to see whats happening on this thread and will be demoing until I can find my feet again.
Chao!

2fx
  • #5,498
  • Aug 19, 2008 9:51am Aug 19, 2008 9:51am
squared e/u @ 4780, maybe to soon? Anyways, watching 4780 area.
  • #5,499
  • Aug 19, 2008 9:51am Aug 19, 2008 9:51am
Quoting joypips
Hi Billionaire

I trade these days while learning from fti only eur/usd...however I watch aus/usd (I'm patriotic you see).... I also watch gbp/usd and usd/jpy

I was not always this disciplined, I used to watch and worse trade aus/usd, gbp/usd, eur/usd, usd/jpy, eur/jpy, usd/chf, usd/cad,gbp/jpyand aud/jpy.

well now after you have stopped laughing and fti stopped choking on those ciggies along with fosters...

I have seen the errors of my wicked ways and joined the fti harem
I can say I am now profitable, not wildly so but pleasantly so... typical of harems i'm told

please believe me when I say that immersing yourself in the archives will help you immensely.. go one step forward and two steps back, sometimes 3,4,5 steps back until you understand each step..

sorry I'm rambling again
joy
Thank you! Joy.
I admire your ability to be able looking after so many pairs, I cannot concentrate my mind to do that, unless I have a team, enough computer system work for me, a big & moderm trading space.......sorry, I'm day dreaming suddently
Like you, I knew I have progressed. From knowing nothing about a candle bar....to believe indicators as my holy grail....losing money.....to the stage nowaday that the market is no longer able to defeat me that easily as before...however, learning process never end, so is the awareness of the trading risk.

Regards,
  • #5,500
  • Aug 19, 2008 9:53am Aug 19, 2008 9:53am
Quoting 2fx
Hi guys...

[...]
I will pop in once in a while to see whats happening on this thread and will be demoing until I can find my feet again.
Chao!

2fx
Hi 2fx,

it's allways a slap in the face to blow ones account

But if you really want to go on with this business, than read this thread carefully over and over again and practise, practise and once again practise the dance!

And if you feel ready to try it again, you should spend at least 1000$ better some more to start with microlots (0.01 lot).

Wish you good success!

Cu,
MaMood
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