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Technical Analysis Fallacy

  • #7,941
  • Jun 23, 2009 6:49am Jun 23, 2009 6:49am
Ok, people, prepare for action, suit up.

regards
  • #7,942
  • Jun 23, 2009 7:30am Jun 23, 2009 7:30am
night guys ,
good trade to all
To Live is the rarest thing in the world , Most people exist , that is all
  • #7,943
  • Jun 23, 2009 8:09am Jun 23, 2009 8:09am
Good night, all.
  • #7,944
  • Jun 23, 2009 8:21am Jun 23, 2009 8:21am
Good night
  • #7,945
  • Jun 23, 2009 8:34am Jun 23, 2009 8:34am
Just a quick stop by between trades to see how everyone is doing this fine trading day. Was long the E/$ early, then shorted the E/J shortly after Housing data in US. Now tracking the G/$ for a long, but waiting a bit on that one. Been a busy day so far. May swing back later to check in, and hope you are all trading well. OK, in the G/$ at 1.6337, so back to work!

PS: Have covered this trade for 0 profit if it does not run now.
Edit a few minutes later: out with 0. Oh well...
  • #7,946
  • Jun 23, 2009 8:37am Jun 23, 2009 8:37am
Quoting seeit
Good night
Nice one

Need a light?
  • #7,947
  • Jun 23, 2009 9:31am Jun 23, 2009 9:31am
seem like most knock off early today....
  • #7,948
  • Jun 23, 2009 9:46am Jun 23, 2009 9:46am
Quoting fti
and here's s tip from fti, listen carefully.
If the market doesn't go up it will go down.
if the market didn't go down as well, it is likely in a congestion.

And next century will be better than the last.



regards
if next century is not , than come tell me about it, next century.

I am just jesting.
this is known as saying a bunch of nothings.

regards
i understand what you mean.... and the nice thing about financial TV is that these colorful people can get pretty emotional about it.

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even with my eyes open i cannot see everything
  • #7,949
  • Jun 23, 2009 9:54am Jun 23, 2009 9:54am
Quoting GEfx
Just a quick stop by between trades to see how everyone is doing this fine trading day. Was long the E/$ early, then shorted the E/J shortly after Housing data in US. Now tracking the G/$ for a long, but waiting a bit on that one. Been a busy day so far. May swing back later to check in, and hope you are all trading well. OK, in the G/$ at 1.6337, so back to work!

PS: Have covered this trade for 0 profit if it does not run now.
Edit a few minutes later: out with 0. Oh well...
well mu day wasn't so productive.
Was disturbed by bias and couldn't ride the moves, just managed to catch 20-25 pockets of long the Eur.
Somehow something's affecting the mindset. couldn't see the bear as strong as she came.

sending myself for basic mindset repair.
basically was too bias bull dollars. danced with 2 left feet.

Goodnite All.

regards
  • #7,950
  • Jun 23, 2009 10:06am Jun 23, 2009 10:06am
goodnight mr fti...

btw where your mindset repair workshop...might need it
  • #7,951
  • Edited 10:43am Jun 23, 2009 10:23am | Edited 10:43am
Quoting aiyahmarklah
goodnight mr fti...

btw where your mindset repair workshop...might need it
in my head,mark, in my head.

reduce size and going back to basics.
the shs is affecting my effectiveness.
gotta deal with the bias monster thats subcounciously affecting my nimbleness.
Maybe the super performance before the holiday could be a contributing factor, as well. I can feel it todays trades. couldn't ride. reverting to bias and giving good money away. After correcting stance, still couldn't ride.

So I gotta go find myself again.
I am becoming dangerous for myself, off the desk for a little.
fti is UNDER REPAIR.


regards

PS Today after the figs, would have been a sail. But the mindset impaired performance. what a waste.

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Inserted Video
  • #7,952
  • Jun 23, 2009 10:44am Jun 23, 2009 10:44am
Quoting fti
fti is UNDER REPAIR.
lol...mr fti its only tuesday...may I suggest you have a little wine and chill ?
  • #7,953
  • Jun 23, 2009 10:54am Jun 23, 2009 10:54am
Quoting aiyahmarklah
lol...mr fti its only tuesday...may I suggest you have a little wine and chill ?
exactly, gotta get the mind and feel back to finish the week a flyer.

sayonara for a little.

regards
  • #7,954
  • Jun 23, 2009 11:01am Jun 23, 2009 11:01am
yes sir see you tommorow....
  • #7,955
  • Jun 23, 2009 11:48am Jun 23, 2009 11:48am
Quoting fti
well mu day wasn't so productive.
Was disturbed by bias and couldn't ride the moves, just managed to catch 20-25 pockets of long the Eur.
Somehow something's affecting the mindset. couldn't see the bear as strong as she came.

sending myself for basic mindset repair.
basically was too bias bull dollars. danced with 2 left feet.

Goodnite All.

regards
The market will be there when you are ready. I was doing OK until the trade I describe. I was up about 14 pips and ended up with 0 on this trade, because I was in a hurry to get something else done that was not related to trading. After I got out the crazy thing ran up over 100. Another lesson in the importance of being focused only on trading when trading. I did ok for the day but could have been more. Oh well, on to the next trade! Get Focused and Stay Nimble to Make Money.
  • #7,956
  • Jun 23, 2009 3:23pm Jun 23, 2009 3:23pm
Crazy day...
Big north direction...
Now what?
I do not mean patterns, crystal balls or tarot cards.
I mean if you have to trade NOW,
would you go north or south?
I vote for a north direction.
Attached Image
Empty as water and soft as a facing wind mountain
  • #7,957
  • Jun 23, 2009 3:32pm Jun 23, 2009 3:32pm
Quoting luSan
Crazy day...

I vote for a north direction.
Add my vote to it....
  • #7,958
  • Jun 23, 2009 5:22pm Jun 23, 2009 5:22pm
Quoting luSan
Crazy day...
Big north direction...
Now what?
I do not mean patterns, crystal balls or tarot cards.
I mean if you have to trade NOW,
would you go north or south?
I vote for a north direction.
Hi, I had a similar conversation two weeks ago with Auxesis, so perhaps we should call him for a continuation of the discussion on E/D trend. At that time he was going south (4H) and I was north (day). He has been winning, but today may be a different story. I have been cheating going both ways (bi-directional?). My vote is this: trend is north, the movement south the last few weeks has formed this really nice flag that was breached today. Tomorrow is the main event, where Big Ben may help settle this discussion. I am not going to throw out a bunch of technical crap here because it is sooooo boring, so lets just follow the market and see where it leads. If not sure, I always find the sideline to be my best trade. Sorry fti, but I have become Mr. Chitty Chatty here and taken over. Time to rest. Can't trade when distracted or tired!
  • #7,959
  • Jun 23, 2009 5:35pm Jun 23, 2009 5:35pm
Quoting luSan
Crazy day...
Big north direction...
Now what?
I do not mean patterns, crystal balls or tarot cards.
I mean if you have to trade NOW,
would you go north or south?
I vote for a north direction.
I felt so exhausted yesterday-- slept over before PC shut down. It was the fear of being caught at top made me frequently in and out during such an impulsive move. I'm still Smigle.

As for the pic you present, if it's still early in the day, I'd go north on retrace or run. But the pic was at the end of the day, I definitely take profit Now.

Time passed, now is Tokyo morning. Since very few squared their long at NY close and Sydney didn't short it, Tokyo is holding firm. So, I vote for north Now.
  • #7,960
  • Jun 23, 2009 6:00pm Jun 23, 2009 6:00pm
Quoting fti
Oh before I shut down.
indianguyinny,you are going about the MM , all wrong.

Firstly, about time constrain, sure I understand you have a job , so market access must be controlled for your health, mostly non accessed when you are focused elsewhere. On that I cannot help you. you see, you have to decide how to split the time pie, and when you have done so , you have to take whatever she gives you within that constrain.

Most importantly , about the MM. You are formulating it from ROI point of view.That's bad mindset, will creates much problems for...
point well noted chief...

V
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