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Technical Analysis Fallacy

  • #7,781
  • Jun 18, 2009 9:18am Jun 18, 2009 9:18am
Quoting imjscn
I brought my final attack to 1.4, expected to trigger some stop loss... disappointing... nothing happened there, square attack, scout still in.
your call sign reads "I am jason" of hsbc?
or am I too lepak.
  • #7,782
  • Jun 18, 2009 9:22am Jun 18, 2009 9:22am
I'm Smigle Scout out now
  • #7,783
  • Jun 18, 2009 9:24am Jun 18, 2009 9:24am
Quoting imjscn
I'm Smigle Scout out now
eer,ok
  • #7,784
  • Jun 18, 2009 9:27am Jun 18, 2009 9:27am
Quoting fti
managed to get some small change, now sitting squared and biting finger nails , while treasury presenting its reform in beta. You?

and pumping my laminin full of caffeine & puffs.
Was riding down from 9605 to the 70's and had to flip after the release of the much better than expected PhillyFed Index and Mr Geithner's comments.
No poop, but mid sized profits.
So far so good ...

What will my lady do next?
Up - down - Cha-Cha-Cha

;-)
  • #7,785
  • Jun 18, 2009 9:29am Jun 18, 2009 9:29am
Moodys put 21 Italian banks under review
  • #7,786
  • Jun 18, 2009 9:29am Jun 18, 2009 9:29am
Quoting MaMood
Was riding down from 9605 to the 70's and had to flip after the release of the much than expected PhillyFed Index and Mr Geithner's comments.
No poop, but mid sized profits.
So far so good ...

What will my lady do next?
Up - down - Cha-Cha-Cha

;-)
,

Ya, the cha cha cha making me a little dizzy too.
  • #7,787
  • Jun 18, 2009 9:34am Jun 18, 2009 9:34am
Quoting imjscn
Moodys put 21 Italian banks under review
So 21 moody Italian banks.
BCI on list?
  • #7,788
  • Jun 18, 2009 9:40am Jun 18, 2009 9:40am
list is not seen on news yet
  • #7,789
  • Jun 18, 2009 9:41am Jun 18, 2009 9:41am
Blues, not Cha cha any longer ;-)

Inserted Video
  • #7,790
  • Jun 18, 2009 9:41am Jun 18, 2009 9:41am
expanding wedge, dangerous pattern.

most dangerous, congestion pattern.
directional play assassin. be careful
  • #7,791
  • Edited 10:16am Jun 18, 2009 9:49am | Edited 10:16am
Quoting MaMood
Blues, not Cha cha any longer ;-)

http://www.youtube.com/watch?v=W6xSpIRYa7I&fmt=18
yeap,
Inserted Video


expanding wedge.........thanks to G man with beta program
cheaper to lepak and listen to music.
  • #7,792
  • Jun 18, 2009 9:55am Jun 18, 2009 9:55am
Quoting fti
yeap,
http://www.youtube.com/watch?v=gipemJkC4xs&fmt=18

... Nobody Knows You When You're Down And Out ...

how true :-)
  • #7,793
  • Jun 18, 2009 10:11am Jun 18, 2009 10:11am
Quoting auxesis
Mamood,

Here's a snippet from a great message by Louie Giglio about it.

Laminin is a molecular protein/glue that literally holds us together, the avatar is an actual picture of the protein string, watch the whole video.

http://www.youtube.com/watch?v=_e4zgJXPpI4

Thanx Auxesis!

Very touching video.
Have tears in my eyes...
Did know Laminin before, but not in that context.
Great.
Thank you very much.
  • #7,794
  • Jun 18, 2009 10:39am Jun 18, 2009 10:39am
Audiophile series.
Inserted Video
  • #7,795
  • Jun 18, 2009 10:39am Jun 18, 2009 10:39am
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  • #7,796
  • Jun 18, 2009 10:56am Jun 18, 2009 10:56am
Do others on here think it's possible to read PA without thinking about particular chart formations? The reason I ask is that previously I used to be put off trades because of certain patterns that looked like they were forming. Since I stopped trading live and went back to hopefully my last demo account, I don't so much look at formations as try and follow the general flow. I've done much better than before and made steady profits for two months.

Maybe it is that chart patterns are not that helpful until you have more experience with them - i.e. a little knowledge can be a dangerous thing? (Or maybe I've just been lucky the past ten weeks!)
  • #7,797
  • Jun 18, 2009 11:20am Jun 18, 2009 11:20am
Quoting ukmanthailan
Do others on here think it's possible to read PA without thinking about particular chart formations? The reason I ask is that previously I used to be put off trades because of certain patterns that looked like they were forming. Since I stopped trading live and went back to hopefully my last demo account, I don't so much look at formations as try and follow the general flow. I've done much better than before and made steady profits for two months.

Maybe it is that chart patterns are not that helpful until you have more experience with them - i.e....

I think that any speculation about circumventable market is in vain.

But one thing is certain ... greed and apprehension = move

  • #7,798
  • Jun 18, 2009 11:32am Jun 18, 2009 11:32am
Maybe I wasn't very clear...

You have to use something to form an opinion, even if that opinion is flexible and constantly open to change. I tried to use formations to help me previously. Now I don't and I am doing a lot better. So...I am just asking if other people think chart patterns are only helpful once you have more experience than me maybe?
  • #7,799
  • Jun 18, 2009 11:45am Jun 18, 2009 11:45am
Quoting ukmanthailan
Maybe I wasn't very clear...

You have to use something to form an opinion, even if that opinion is flexible and constantly open to change. I tried to use formations to help me previously. Now I don't and I am doing a lot better. So...I am just asking if other people think chart patterns are only helpful once you have more experience than me maybe?
FTI nice write:
"Look, I had said many times, S/R means nothing, only the way she dances it.
He dance sequense can lead you either thru it or on it, IT MEANS NOTHING.
Patterns tells you what type of MM is most likely. Instead you think about pattern when you should be reviewing strategy and position, How to protect your book if you are wrong , how to prepare for attack, what the arkets mode is, These are the important things to be thinking of. You already got PA done yet you keep at whats's being shown, instead of preparing your book."

PS What I know "double top" and "double bottom" the success 42-46% , "doji candelstick" and "hammer candelstick" the success 44-51%
  • #7,800
  • Jun 18, 2009 12:02pm Jun 18, 2009 12:02pm
Quoting ukmanthailan
Do others on here think it's possible to read PA without thinking about particular chart formations? The reason I ask is that previously I used to be put off trades because of certain patterns that looked like they were forming. Since I stopped trading live and went back to hopefully my last demo account, I don't so much look at formations as try and follow the general flow. I've done much better than before and made steady profits for two months.

Maybe it is that chart patterns are not that helpful until you have more experience with them - i.e....
I can only speak for my self, but I do not take any notice of chart patterns. My main concern is money management and trading with the trend. As I trade full time, I am more concerned with the opening times of Europe, London and New York as I often notice that the trend may change as say for example the Asian Session when Europe starts. For me it means just being careful at these times and I try not to have the whole army out. Fti pointed out today an expanding wedge and to be careful, I did not even notice it until he talked about it, but I have been very careful with my trading today. I also made very good money today without any stress by following Fti money managing ideas. Good luck with your trading, it takes a lot of time and practice using Fti ideas, I have being using those ideas for over a year now but it is really starting to pay money wise plus I enjoy doing it. Ray
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