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Technical Analysis Fallacy

  • #5,501
  • Aug 19, 2008 11:53am Aug 19, 2008 11:53am
Quoting MaMood
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'
Hi maMood,
Thanks.
Looks like Ben's gonna have hard time this friday.LOL

regards
  • #5,502
  • Aug 19, 2008 11:58am Aug 19, 2008 11:58am
Quoting Rainman
Still long E/U basis 14677

-2.8 book
Hi,
You had better get out, whenever.
Retracement might not come, you are swimming against the strongest reversal possibilities by NY closing. So pls , you are on the wrong side of the fence. Don't be hard head. Cut loses while the pain is still bearable.

To risk that the outside day key reversal is too risky.
Better be on the flow than against it.
Preserve your capital.

regards
  • #5,503
  • Aug 19, 2008 12:07pm Aug 19, 2008 12:07pm
Quoting 2fx
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
Hi 2fx,
Were you dancing the market.
Don't do piece meal.
Consolidated all financials and trade to smallest possible untiol you build up a buffer.
Anyways stay out now, and try to relax.
Get this all out of your mind first. Take some time to let the feelings go.
Start from the ground again when you are ready much later.
and the next time . don't split up your resources like that.

take care, you can come back again later,the markets always around.

regards
  • #5,504
  • Aug 19, 2008 12:09pm Aug 19, 2008 12:09pm
Thanks for the advice Fti.

I'm out. 14785

-3% book no worries.

Hard to dance with a partner who only goes one direction.

Wheres my bourbon!
Enter Signature
  • #5,505
  • Aug 19, 2008 12:09pm Aug 19, 2008 12:09pm
Quoting MaMood
No, real money.
I could imagine, what you are thinking.

I had some good success to fight my acrophobia with such kind of extreme therapy. Went on skyscrapers coached by my doctor.

Hope it will work against the fears of loss too.
Target of the execercise is to keep a cool mind, when the numbers running against you ...
Thank you! MaMood, for your info.
Glad that you win the battle.
About the fear of trading/loss, this related to gut (ball of steel by MR FTI) and this is much related to one thing (my opinion) i.e ....................................................................$$$$$$$$$$
Gut = $
Yes! borrowed from my friend's saying: Live Rich Or Die Young! just kidding!

Regards,
  • #5,506
  • Aug 19, 2008 12:10pm Aug 19, 2008 12:10pm
Quoting MaMood

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).

Please which MT4 broker would you recommend that uses microlots. The one I use only allows minilots(0.1lot).
Thanks
  • #5,507
  • Aug 19, 2008 12:15pm Aug 19, 2008 12:15pm
Quoting fti
Hi 2fx,
Were you dancing the market.
Don't do piece meal.
Consolidated all financials and trade to smallest possible untiol you build up a buffer.
Anyways stay out now, and try to relax.
Get this all out of your mind first. Take some time to let the feelings go.
Start from the ground again when you are ready much later.
and the next time . don't split up your resources like that.

take care, you can come back again later,the markets always around.

regards
Advice well taken Fti...thanks
  • #5,508
  • Aug 19, 2008 12:37pm Aug 19, 2008 12:37pm
Could someone please recommend me a good MT4 broker that allows microlots?
Thanks
  • #5,509
  • Aug 19, 2008 12:38pm Aug 19, 2008 12:38pm
Try IBFX.

but all MT brokers are bucket shops
Enter Signature
  • #5,510
  • Aug 19, 2008 1:05pm Aug 19, 2008 1:05pm
Quoting Rainman
Try IBFX.

but all MT brokers are bucket shops
What do you mean by bucket shops?
  • #5,511
  • Aug 19, 2008 1:39pm Aug 19, 2008 1:39pm
  •  Jairo
  • Joined Sep 2007 | Status: Amateur EA programmer | 485 Posts | Online Now
Quoting 2fx
What do you mean by bucket shops?
I think people use to call that way brokers that take the other side of your trades. Though frequently bad mouthed, I don't believe IBFX does that. They have a pool of liquidity providers. I am with them for more than 2 years and have no major complaint.
  • #5,512
  • Aug 19, 2008 1:48pm Aug 19, 2008 1:48pm
Fti and all...

good night...till tomorrow...

Happy trading.

Regards,
Empty as water and soft as a facing wind mountain
  • #5,513
  • Aug 19, 2008 1:51pm Aug 19, 2008 1:51pm
Quoting Jairo
I think people use to call that way brokers that take the other side of your trades. Though frequently bad mouthed, I don't believe IBFX does that. They have a pool of liquidity providers. I am with them for more than 2 years and have no major complaint.
InterbankFX is OK, no saint but OK. Good start for $1000 account with $0.01 per pip.
  • #5,514
  • Aug 19, 2008 1:53pm Aug 19, 2008 1:53pm
Quoting 2fx
Please which MT4 broker would you recommend that uses microlots. The one I use only allows minilots(0.1lot).
Thanks
Hi 2fx,

I'm sorry I can't give you an advice.
The broker of mine only offers minilots.
Have no experience with other MT4 brokers.
  • #5,515
  • Aug 19, 2008 1:55pm Aug 19, 2008 1:55pm
Quoting 2fx
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
Blowing once account during start is not a surprise but 5th, huh? You clearly need to lower your position sizes.

Look through all 5 accounts and see if you repeat the same mistakes.. identify your scorpions.
  • #5,516
  • Aug 19, 2008 2:04pm Aug 19, 2008 2:04pm
Quoting 2fx
Please which MT4 broker would you recommend that uses microlots. The one I use only allows minilots(0.1lot).
Thanks
You might want to try Oanda...if you use micro lots of 0.01 units (1pip= $0.01)...then you would be safe...Do not commit until you figure this thing out..and watch out your leverage...

Good luck
Empty as water and soft as a facing wind mountain
  • #5,517
  • Aug 19, 2008 2:21pm Aug 19, 2008 2:21pm
Quoting luSan
Fti and all...

good night...till tomorrow...

Happy trading.

Regards,
Hi Lusan
goodnight.

regards
  • #5,518
  • Aug 19, 2008 3:48pm Aug 19, 2008 3:48pm
Quoting luSan
You might want to try Oanda...if you use micro lots of 0.01 units (1pip= $0.01)...then you would be safe...Do not commit until you figure this thing out..and watch out your leverage...

Good luck

I agree, LuSan.

Oanda is definitely the best choice if you don't use loads of studies.

- low costs
- quick execution
- flexible lots
- bid-ask price on charts
- best 1m charts I've ever came across

... just to mention the most important ones. (leverage could be a bit higher)
  • #5,519
  • Aug 19, 2008 5:22pm Aug 19, 2008 5:22pm
  •  Jairo
  • Joined Sep 2007 | Status: Amateur EA programmer | 485 Posts | Online Now
Quoting resistance
I agree, LuSan.

Oanda is definitely the best choice if you don't use loads of studies.

- low costs
- quick execution
- flexible lots
- bid-ask price on charts
- best 1m charts I've ever came across

... just to mention the most important ones. (leverage could be a bit higher)
Hi resistance,

- low costs is very attractive for me . But I have seen many complaints about BIG (and frequent) spread fluctuations with them. This would be a disaster for scalping. Never tried, cannot tell anything.
- flexible lots - probably their best feature.
- bid-ask price on charts - if you like this, MT4 platform can be configured to show both lines, too. Need coding to show the numbers.
- higher leverage - very good... and dangerous game.

Has Oanda any restrictions on scalping? Do they really take the other side of your trades, as some people argue?

Thanks and good trading.
  • #5,520
  • Aug 19, 2008 7:25pm Aug 19, 2008 7:25pm
beautiful morning to fti and all

yesterday was one of the examples why one should pace the market closely at all times. she turned, and did not look back. hehehe.

key reversal. dollar bulls better be nifty, i figured the only news that may bring the dollar up will be when helicopter ben speaks, seems that the majors wanna see a retracement from here on. becareful tho, were playing near walled cities at these level
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