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Technical Analysis Fallacy

  • #8,041
  • Edited 5:38pm Jun 24, 2009 4:41pm | Edited 5:38pm
Quoting j-pax
rescued my long $50 scout. made 80$cents with 50$ scout, 100$ attacks and a $250 rescue just now. all long on retracement.

trading peanuts but i don't feel like a monkey

listen some music and relax now.

europe good night and asia good morning
don't think about the money, 100,000 is 1 million without one zero. Most important is mindset stability,capital adequate by ratio to risk.

regards

PS Don't be affected by bias again, react to the flow,ONLY.
  • #8,042
  • Jun 24, 2009 5:49pm Jun 24, 2009 5:49pm
Good morning, fti and all.
  • #8,043
  • Jun 24, 2009 6:02pm Jun 24, 2009 6:02pm
Quoting fti
don't think about the money, 100,000 is 1 million without one zero. Most important is mindset stability,capital adequate by ratio to risk.

regards

PS Don't be affected by bias again, react to the flow,ONLY.
Hi FTI

"world is constantly changing, is the only sure constant is change"

Regards


  • #8,044
  • Jun 24, 2009 7:55pm Jun 24, 2009 7:55pm
Hi everyone, been trading off and on all day. FOMC announcement was dull, but am now long the E/J at 133.51. Let's see where this goes. Hope you are all doing well. Will give this an hour or two and then to sleep.
  • #8,045
  • Jun 24, 2009 8:00pm Jun 24, 2009 8:00pm
me short Scout 1.3960
  • #8,046
  • Edited 8:19pm Jun 24, 2009 8:06pm | Edited 8:19pm
imjscn is now short the E/$ and I am long the E/J. I will protect 30 pips and call it a night. imjscn, it's all yours now. Take 'em for all they are worth my friend.

PS: I took 50 and am going to bed. I hope fti does not laugh at me for giving up before it is actually over, but I need sleep, not coffee. Good luck everyone.
  • #8,047
  • Jun 24, 2009 8:41pm Jun 24, 2009 8:41pm
Have a nice sleep with all the sweet pips you banked today, GEfx!
  • #8,048
  • Jun 24, 2009 9:08pm Jun 24, 2009 9:08pm
good size 2 way interest from Asia account is noticed, buy 1.38, sell 1.41

Recently, China and its little brothers are arguing for the needs of stability in USD.

SNB bought both USD and EUR. The result is, as we can see on our chart, USD is stronger.
  • #8,049
  • Jun 25, 2009 12:31am Jun 25, 2009 12:31am
is this thing gonna move....or not...

V
  • #8,050
  • Edited 1:20am Jun 25, 2009 1:09am | Edited 1:20am
Quoting indianguyinny24
is this thing gonna move....or not...

V
that should not be the question,indianguyinny.
The question is if it moves,
1. are you on the impluse or against.
3. are you prepared to react.

I sense a little frustration and anxiousness , then please square out.
you are becoming dangerous to yourself.
Are you lead dancer or is she. why must she move for you?
So you are master, so you die a thousand frustrations.

regards
  • #8,051
  • Jun 25, 2009 1:15am Jun 25, 2009 1:15am
recap of activity.

attacked long usd after fomc.
managed level 4
squared near 13895.

short scout at 13930
flipped long 13941-----squared 13946 in tokyo zone.

now waiting for London.
  • #8,052
  • Jun 25, 2009 1:22am Jun 25, 2009 1:22am
Quoting fti
that should not be the question,indianguyinny.
The question is if it moves,
1. are you on the impluse or against.
3. are you prepared to react.

I sense a little frustration and anxiousness , then please square out.
you are becoming dangerous to yourself.
Are you lead dancer or is she. why must she move for you?
So you are master, so you die a thousand frustrations.

regards
Thanks for knocking my head...

Only scout in deep red...

FTI how do u manage to flip at very right time....

V
  • #8,053
  • Jun 25, 2009 1:32am Jun 25, 2009 1:32am
Quoting indianguyinny24
Thanks for knocking my head...

Only scout in deep red...

FTI how do u manage to flip at very right time....

V
Allow me to try mind reading fti:

"If the market is going down, it MUST go down. If not, it must go up. If it won't go up either, we are going to get a range band".
  • #8,054
  • Jun 25, 2009 1:34am Jun 25, 2009 1:34am
Quoting fti
that should not be the question,indianguyinny.
The question is if it moves,
1. are you on the impluse or against.
3. are you prepared to react.

I sense a little frustration and anxiousness , then please square out.
you are becoming dangerous to yourself.
Are you lead dancer or is she. why must she move for you?
So you are master, so you die a thousand frustrations.

regards
Good remark!
  • #8,055
  • Jun 25, 2009 1:35am Jun 25, 2009 1:35am
Quoting indianguyinny24
Thanks for knocking my head...

Only scout in deep red...

FTI how do u manage to flip at very right time....

V
"dead in water scout". now you have to decide, how you want to handle the situation. What do you see? Is rescue opportunity available. Exit plan.

Recap of thoughts.
--------------------
I went short scout 30 for second wave.
it started, but I was slow in attack and missed.
it went to 05-15 zone rebounded fast,
above the 40 i cut the scout loose and flipped for a test.
it went up to test 50/60 . I didn't feel strong impulse, so I took scout out and took a nap 1 hour =+ after Tokyo opened.

I just woke up half and hour ago.

Now the impluse leg is up, BOJ as I expected didn't show.
If anything, Tokyo session had done nothing, its the Euro/London show now.
Still looking for feel and waiting for my coffee.
Gotta take a shower now. When I get out, coffee should be ready.
  • #8,056
  • Jun 25, 2009 1:41am Jun 25, 2009 1:41am
Quoting fti
"dead in water scout". now you have to decide, how you want to handle the situation. What do you see? Is rescue opportunity available. Exit plan.
well i do see one rescue in near window.... only thing London is on soon...


Quote
Recap of thoughts.
--------------------
I went short scout 30 for second wave.
it started, but I was slow in attack and missed.
it went to 05-15 zone rebounded fast,
above the 40 i cut the scout loose and flipped for a test.
it went up to test 50/60 . I didn't feel strong impulse, so I took scout out and took a nap 1 hour =+ after Tokyo opened.

I just woke up half and hour ago.

Now the impluse leg is up, BOJ as I expected didn't show.
If anything, Tokyo session had done nothing, its the Euro/London show now.
Still looking for feel and waiting...

Thanks For sharing this...
  • #8,057
  • Jun 25, 2009 1:57am Jun 25, 2009 1:57am
OK , I m back. ohh my cup of COFFEE.

Now looking from the yen hourly charts, it is evident that some one had been buying usd/yen from since 20 hours ago.
Nothing dramatic, but nevertheless steady buying.
What do you think? It may be MaMood quitely taking her to the dance. but likely stronger hands. Ah and BOJ is too quiet, and don't give me the guilty look. Stealth mode, huh..

3 kings is all out of line. evidence that the crosses had been playing in the garden.

regards
  • #8,058
  • Edited 2:14am Jun 25, 2009 2:04am | Edited 2:14am
there impulse down, my first sighting.

somebody wants it above 55. lets see if he got the balls to defend his level.
not if cable's got anything to say about it.

scout out s x 55
  • #8,059
  • Jun 25, 2009 2:18am Jun 25, 2009 2:18am
Quoting Zoran
It's something we need to keep working on and admittedly, it is difficult but should come good with time as we discover ourselves.

However, ever thought about strategising where the scorpion is not a factor? I have an account used specifically for that but I need to wait for certain market conditions before I enter.
Tats quite subtle and tastefully put. hahah

hey Zoran havent spoke to you for a while. Seems that you're still quite busy.

anyway, what works for me in containing the scorpion?

stay away from discussions when trading. (thats just me)

dun let the size and deficits affect you, once it starts affecting your psychological setup...run. its easier said than done, but i think everyone knows the feeling, its when they develop that weary discomfort, you know ur done for.
Since im like most, bounded by time and work commitments, its not easy for me to drag skirmishes for days and days, IMO accepting a loss thru discretion/non-mechanically is a skill by itself.
  • #8,060
  • Jun 25, 2009 2:21am Jun 25, 2009 2:21am
Quoting jest1081
Tats quite subtle and tastefully put. hahah

hey Zoran havent spoke to you for a while. Seems that you're still quite busy.

anyway, what works for me in containing the scorpion?

stay away from discussions when trading.

dun let the size and deficits affect you, once it starts affecting your psychological setup...run. its easier said than done, but i think everyone knows the feeling, its when they develop that weary discomfort, you know ur done for.
Since im like most, bounded by time and work commitments, its not easy for me to...
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