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Technical Analysis Fallacy

  • #8,321
  • Jun 30, 2009 10:40pm Jun 30, 2009 10:40pm
Quoting imjscn
Asia recap:
Fed woman Yellen said zero rate could continue for years.
Some Fed men disagree. But not speak yet.

I remember that, several times, her speech made some volatility but quickly cool down. Considering she is a big dove, so, her opinion on low rate should not be a surprise.
Hummmm........... Some how I think rates will be going up, sometime later. Markets are being manipulated atm, imho...... will eventually come unglued.

off to sleepy!

Good trades everyone
  • #8,322
  • Edited 1:20am Jul 1, 2009 12:46am | Edited 1:20am
The trip to south was failed with a small profit. scouting north now.

Need chief

Chief said:
"If the market is down, it must be going down. Otherwise, it must be going up. If it doesn't go up either, it's in congestion".
"If in congestion, you must pace out!".
  • #8,323
  • Jul 1, 2009 1:53am Jul 1, 2009 1:53am
Squared. Time to go back reading the thread again.
  • #8,324
  • Jul 1, 2009 2:39am Jul 1, 2009 2:39am
Good morning Friends!
  • #8,325
  • Jul 1, 2009 2:42am Jul 1, 2009 2:42am
Thanks to everyone for their best wishes.

I have been a little bit of a pig today
  • #8,326
  • Jul 1, 2009 2:51am Jul 1, 2009 2:51am
imjscn,

if i may be of any help.

i noticed that your timeframe may be too short. It appears to me that you are scalping volitility and in between sessions?

Do you think that you seem to cut ur possies a little too quickly?

Thus i came to 3 conclusions,

1. Your book may not be not deep enough to contain price fluctuations.

2. Your trades in between ur skews are too close for comfort thus making your positions grow a little too quickly.

3. You are constrained by time due to commitments.

1 and 2 can be solved by trading smaller sizes, continued practise and stratagems.

i guess much talking will not help too, realisation has taught me that the only way to improve active trade management skills is by continously trading. practise, practise and more practise.

good journey my fren

hmmm rangebound trading sure is hard...im happier trading when prices make higher highs and lower lows.

i guess this general has still some ways to go before he can claim his stars.

mamood! cheers.

edit: im skewing into l2 attack who wants USD? page me.
  • #8,327
  • Jul 1, 2009 2:53am Jul 1, 2009 2:53am
From reading through the thread again and again, an observation is that when fti is not in the market, people start behave a bit piggish. My conclusion is -- we need to practice the great position of "staying out".
  • #8,328
  • Jul 1, 2009 2:58am Jul 1, 2009 2:58am
Quoting imjscn
From reading through the thread again and again, an observation is that when fti is not in the market, people start behave a bit piggish. My conclusion is -- we need to practice the great position of "staying out".
i had a problem when i was active here. hahaha

the problem is, i easily get influenced by views and trades. lol! most times i will find myself chasing eir shadows. When that happens all MO and management goes to ground.
  • #8,329
  • Jul 1, 2009 2:59am Jul 1, 2009 2:59am
oanda is giving me 5 pips on eu last 10 mins , anyone with same prob ?
going to red flag this, if its just me...
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,330
  • Jul 1, 2009 3:10am Jul 1, 2009 3:10am
Quoting jest1081
imjscn,

if i may be of any help.

i noticed that your timeframe may be too short. It appears to me that you are scalping volitility and in between sessions?

Do you think that you seem to cut ur possies a little too quickly?

Thus i came to 3 conclusions,

1. Your book may not be not deep enough to contain price fluctuations.

2. Your trades in between ur skews are too close for comfort thus making your positions grow a little too quickly.

3. You are constrained by time due to commitments.

1 and 2 can be solved by trading smaller...
Many thanks, jest!

1. Two weeks ago, I removed my initial capital. This makes the book a bit thin. But it's not the main problem, just take a bit time, it will be fine;

2. You and fti see my problem into bones--- my trades between skews are too close. Positions grow too fast than the market speed so that I can't accommodate a little volatility.
I thought I was correct that I was following fti's "attacking inside one bar" during leg run. But, seems not much legs in the market.
Since both you and fti see my problem, I will re-structure my attacking locations to accomodate a daily bias; yes, I am a bit like scalping which is not what I meant to be. It's just that I haven't got used to wait a day unfolding.

3. I have unlimited time. Practice, practice, talk less, patience!

Thanks, bro!
  • #8,331
  • Jul 1, 2009 3:12am Jul 1, 2009 3:12am
Quoting imjscn
I have unlimited time
One of the immortals is among us!
  • #8,332
  • Jul 1, 2009 3:13am Jul 1, 2009 3:13am
Quoting jest1081
the problem is, i easily get influenced by views and trades. lol! most times i will find myself chasing eir shadows. When that happens all MO and management goes to ground.
So true....sometimes its kinda hard not to look between trades too
  • #8,333
  • Jul 1, 2009 3:18am Jul 1, 2009 3:18am
Quoting maheswara
oanda is giving me 5 pips on eu last 10 mins , anyone with same prob ?
going to red flag this, if its just me...
Yups oanda prices are indicative rather than tradable recently, should not a major problem though, but dissapointed, since they open office here but start playing monkey biz, much hope lost, gonna miss bargain broker like them.
  • #8,334
  • Jul 1, 2009 3:20am Jul 1, 2009 3:20am
Markets seem to be very thin today.
Anyone else made this observation?
  • #8,335
  • Jul 1, 2009 3:30am Jul 1, 2009 3:30am
Quoting MaMood
Markets seem to be very thin today.
Anyone else made this observation?
mamood, asian markets volume is indeed thin.

expecting wild fluctuations from here? i scaled down e skew sizings, seems that the majors are more interested to push this range further
  • #8,336
  • Jul 1, 2009 3:36am Jul 1, 2009 3:36am
UK Manufacturing PMI comes out and Alpari has no connection...how nice. Glad I don't trade news.
  • #8,337
  • Jul 1, 2009 3:47am Jul 1, 2009 3:47am
Hi All,
a little late, getting lazy.
Thats how it goes in retirement.

I read a little of the stuff happening, while I was snoozing.

Your problems are in IS.
Just because you had a field day yesterday, you carried the emotions from yesterday into your trades today.
Variance my friends variance.

Any blind man can see that the dealers got whacked bad yesterday. So evey ones on the defensive. Also that the prices are not where the market is. The chaps are just doing their very best to shore up the usds they lost yesterday as well as buffering for the july event. So expect sporadic usd runs , short and swift. The rest of the time , its gonna be balls breaking attempts of dealer to get you to take their offers of currencies. relax and MM properly,
It may get a little fast after the figs 8:15 and 10:00 otherwise expect dealers market.

still handcuffed.
regards.
  • #8,338
  • Jul 1, 2009 3:48am Jul 1, 2009 3:48am
Morning to all, and ready for a fresh pot of coffee. Chart work is done and strategy ready for the next few hours. Let's see what the market brings today. Good trading to you all.
  • #8,339
  • Jul 1, 2009 3:50am Jul 1, 2009 3:50am
Quoting jest1081
mamood, asian markets volume is indeed thin.

expecting wild fluctuations from here? i scaled down e skew sizings, seems that the majors are more interested to push this range further
Hi Jest, nice to read from you again :-)

I have no idea what the day will bring.
Was offlinbe for a week and 'm trying to get in tune with my lady now.
But that's very difficult and boring, when she does not want to move ....

There are some US Figs later today. Hope they will bring back some volume.
  • #8,340
  • Jul 1, 2009 3:53am Jul 1, 2009 3:53am
Hi fti,

thanx for your market review/briefing.
Once again nimbleness is trump.
or to wait at the sidelines till something shows up ...
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