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Technical Analysis Fallacy

  • #6,121
  • Mar 16, 2009 1:16pm Mar 16, 2009 1:16pm
Quoting pasha_02
Personally, I think there are some stops below 1.2950 on the E/U and 1.4050 G/U and the dealers are trying to run them...either now or during the Asian session.
well, there will always be stops and limits all over the place, I think you would know why by now. But that doesn't say anything about the status of the market. You may be suprised that the stops on top may get triggered. No one truely knows. It more important to feel what she's doing and respond to her with appropriate strategies that are adequately capitalised that no illogical actions be tempted by fear or panic. Even if positions are wrong , there are still viable strategies to use to damage control.

My best days are when I turn a loss into a profit. If you had traded long enough you would understand.

regards
  • #6,122
  • Mar 16, 2009 1:18pm Mar 16, 2009 1:18pm
bot 2x 68
  • #6,123
  • Mar 16, 2009 1:29pm Mar 16, 2009 1:29pm
Hi Fti,

May i ask what made you come to the following conclusions?

Quoting fti
so far no rescue window opens , therefore rescue is ill advised.
R3 remaining on standby
  • #6,124
  • Mar 16, 2009 1:32pm Mar 16, 2009 1:32pm
like I was trying to educate all who aspires to trade for a living. Trading needs you to be in control always. If you give that away for any reasons whatsoever, then there is a price you will have to pay for that liberty.

Trust me,when I tell you that I had seen all kinds in the market. Success in trsding requires class discipline at the extremes coupled with mental and skills resilence of the highest order. To trained people , its normal everyday stuff, unfortunately this is alien to the masses mindsets.

regards
  • #6,125
  • Mar 16, 2009 1:43pm Mar 16, 2009 1:43pm
Quoting fti
well, there will always be stops and limits all over the place, I think you would know why by now. But that doesn't say anything about the status of the market. You may be suprised that the stops on top may get triggered. No one truely knows. It more important to feel what she's doing and respond to her with appropriate strategies that are adequately capitalised that no illogical actions be tempted by fear or panic. Even if positions are wrong , there are still viable strategies to use to damage control.

My best days are when I turn a loss into...
Guess its just the scorpion in me trying/hoping that the market does what i think it will do.
  • #6,126
  • Edited 2:26pm Mar 16, 2009 1:49pm | Edited 2:26pm
Quoting Acs_112
Hi Fti,

May i ask what made you come to the following conclusions?
The worst thing in trading is adding to bad positions.( So you never rescue until you can determine that the rescue is done, not on the impulse wave)
When a position is bad, you must always be on defensive if you are to add to the existing position. First and foremost you should never add to a market thats cutting into the bleeding. ( the maxim is that you never catch falling knifes and shooting rockets).When an opportunity to add surfaces within a time windows of within x bars of last position, it is doing so out of window, ie if this opportunity was real then you wouldn't be able to catch it due to its volatility anyway. Then if the opportunity avails further from that then there is a strong possibiliity that a reversal was of high possibility. So for prudence , you have to re access the analysis to determine if the action is "best practise".

x is a function of the volatility detemined by visual ATR.

In all syne waves you will see a forward wave and a back wave. We call them left hand and right hand waves. Elliott did good explaination about the impulse and retrace, but found difficulty when his impulse wave counted into left hand wave. Late Elliottians adopted alternative counts to accommodate of left had waves, but the err in wave fitting the 5 counts and extended 5 counts complicated the count to bogus wave fitting & counting. I use this in its most primitive.

For todays example if you look at the Eurusd we had just moved on the up waves to right hand, whereas before the leg down to 12950, the right waves were downwaves. For the wave sequense to satisfy the basic dow theory of "trend" and to stay with trend, the right hand must satisfy the required condition.


regards
  • #6,127
  • Mar 16, 2009 2:07pm Mar 16, 2009 2:07pm
fti, it has been a pleasure to see you trade again.

especially when it is on the defensive side.
  • #6,128
  • Mar 16, 2009 2:38pm Mar 16, 2009 2:38pm
a3 deployed bot 3x 79
  • #6,129
  • Mar 16, 2009 2:42pm Mar 16, 2009 2:42pm
Foto name - I feel so blue (Wall Street Bull)

what is meant by blue?

Attached Image
  • #6,130
  • Mar 16, 2009 2:44pm Mar 16, 2009 2:44pm
Quoting fti
a3 deployed bot 3x 79

Can i ask your current blotter???


V
  • #6,131
  • Edited 3:02pm Mar 16, 2009 2:51pm | Edited 3:02pm
Quoting indianguyinny24
Can i ask your current blotter???


V
bot 1 x13018
bot 1x 15
bot 2x 18
sold 2x 12997
sold 1x95
bot 1x 90
bot 2x68
bot 3x 79

net long 7
  • #6,132
  • Mar 16, 2009 2:54pm Mar 16, 2009 2:54pm
Inserted Video
  • #6,133
  • Mar 16, 2009 3:00pm Mar 16, 2009 3:00pm
Hi Fti,

As always your words carry so much wisdom and information. Have been reading this for the past 50 minutes now, trying to understand fully all that you have said. In short to resuce earlier would of resulted in trades being taken during the impulse wave, one should wait for the impulse wave to finish before looking for the opportunity to resuce. hope i have understood this correctly.

What do you mean by this? "Then if the opportunity avails further from that then there is a strong possibiliity that a reversal was of high possibility" If the opporunity avails further would it not just be a continuation of the trend not a reversal?

I have looked on google and have been unable to find an explantion of left and right waves. Would you prehaps be able to discuss this further? what do you mean by left and right waves?

Thanks

Quoting fti
The worst thing in trading is adding to bad positions.( So you never rescue until you can determine that the rescue is done, not on the impulse wave)
When a position is bad, you must always be on defensive if you are to add to the existing position. First and foremost you should never add to a market thats cutting into the bleeding. ( the maxim is that you never catch falling knifes and shooting rockets).When an opportunity to add surfaces within a time windows of within x bars of last position, it is doing so out of window, ie if this opportunity...
  • #6,134
  • Mar 16, 2009 3:07pm Mar 16, 2009 3:07pm
Quoting Acs_112
Hi Fti,

As always your words carry so much wisdom and information. Have been reading this for the past 50 minutes now, trying to understand fully all that you have said. In short to resuce earlier would of resulted in trades being taken during the impulse wave, one should wait for the impulse wave to finish before looking for the opportunity to resuce. hope i have understood this correctly.

What do you mean by this? [i]"Then if the opportunity avails further from that then there is a strong possibiliity that a reversal was of high possibility"...
mom pls, situation requires attention , just missed an oppor earlier,over stayed some positions.
  • #6,135
  • Mar 16, 2009 3:12pm Mar 16, 2009 3:12pm
Quoting Acs_112
Hi Fti,

As always your words carry so much wisdom and information. Have been reading this for the past 50 minutes now, trying to understand fully all that you have said. In short to resuce earlier would of resulted in trades being taken during the impulse wave, one should wait for the impulse wave to finish before looking for the opportunity to resuce. hope i have understood this correctly.

What do you mean by this? [i]"Then if the opportunity avails further from that then there is a strong possibiliity that a reversal was of high possibility"...
Impulse and corrective waves in relation to the current trend.

Read today's posts over and over until you understand them completely, many golden nuggets laid out there for those willing to study and apply.

Fti, Thanks again for sharing your time and thoughts.

a
  • #6,136
  • Mar 16, 2009 3:24pm Mar 16, 2009 3:24pm
was trying to offer half a dollar at 87 , missed and offer out.
cables dancing now
  • #6,137
  • Mar 16, 2009 3:25pm Mar 16, 2009 3:25pm
Quoting auxesis
Impulse and corrective waves in relation to the current trend.

Read today's posts over and over until you understand them completely, many golden nuggets laid out there for those willing to study and apply.

Fti, Thanks again for sharing your time and thoughts.

a
...right ,a lot of study material for today.I slowly translate (my english)

FTI those unaware as I am happy that you back.Thanks a million

  • #6,138
  • Mar 16, 2009 3:41pm Mar 16, 2009 3:41pm
over stayed 2 legs.
and paid the price.

Sx7 x 68 squared
  • #6,139
  • Mar 16, 2009 3:50pm Mar 16, 2009 3:50pm
sorry, I am recomposing analysis for tokyo,
gotta sign off now, to focus.

You gotta help each other for now.

Mmakers reading me,
I an trying to figure out whats happening, was timed out for justt a mom ago. be back in a while.

regards
  • #6,140
  • Mar 16, 2009 10:20pm Mar 16, 2009 10:20pm
Good afternoon, morning and evening to all

Not bad, E/U is 3021, and my small baby is in the money now.

My lady, still dumb duck. Better cut her.
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