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Technical Analysis Fallacy

  • #8,961
  • Edited 12:36pm Jul 21, 2009 8:53am | Edited 12:36pm
back down to 4237 area and watching for support.

have say if she gets back to 4228-37 Ill be watching for direction.

still hanging on to 4202 order, the rest closed.

Had to leave and missed out on move from 37 area, eyes are extra wide 4147 area.
  • #8,962
  • Jul 21, 2009 1:51pm Jul 21, 2009 1:51pm
Quoting maheswara
hey imjscn ,

to me attack is more important than rescue ... but when learning , its natural to learn to rescue and then later to attack,if u cant attack well , profit comes really hard for u ,
point is that u've to make effort to attack nicely and that takes a lot of courage ...

good trade
Quote of the day.
  • #8,963
  • Edited 9:48pm Jul 21, 2009 9:26pm | Edited 9:48pm
e/u scout in b- @ 1.4185.
will be quick to cut her loose as Im looking to go with her direction out of here.

I have to believe Im jumping the gun as I believe I need a little more movement to get a feel for direction.
  • #8,964
  • Jul 21, 2009 10:36pm Jul 21, 2009 10:36pm
maheswara,
how do you see it ?
Hey where did you go ?
  • #8,965
  • Jul 21, 2009 10:57pm Jul 21, 2009 10:57pm
hey lilpip
not sure how I see it ,
but its still tokyo time , dont expect much movement ...
I usually have both argument for a long n a short
short cos thats how the swing was yesterday NY ,
long cos we had higher low (4160 , 4170) ,
well just dance the moment , take wat u can , might not be able to ride in this session ...
just a guess , market is market u know , changes all the time
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,966
  • Jul 22, 2009 2:23am Jul 22, 2009 2:23am
Hi All, take it easy a little, both bulls and bears are resting.
Do range, its quite wide , room enough to have yin yang plate.

regards
  • #8,967
  • Jul 22, 2009 4:01am Jul 22, 2009 4:01am
Quoting fti
Hi All, take it easy a little, both bulls and bears are resting.
Do range, its quite wide , room enough to have yin yang plate.

regards
It's all on trip to nowhere.
  • #8,968
  • Jul 22, 2009 4:39am Jul 22, 2009 4:39am
Hi everyone, hope this is another good trading day. fti, this is a serious range trading market for sure, which requires focus and patience.

Been keeping an eye on US earnings reports and have noticed that most are making good earnings but missing the top line, so wonder when equity prices will react to the fact that recession is still hanging on in a big way.

Big Ben is in front of the US Senate today, but I think he said it all in front of the US House yesterday. Industrial orders in Europe weaker than expected, BOE seems to be sitting on a fence but may be leaning towards tightening (?), and waiting for retail sales in Canada. Of course none of that is tradable, but it fills the time - LOL! Time for a cup of coffee and step outside for some fresh air.

BTW, my E/$ bias is up, but not ready to commit yet. 1H flag has me on hold now and 4180 seems important. My trading focus, however, is on the G/$, E/Y, and $/CAD. Wondering if the SNB will let the CHF strengthen further?
  • #8,969
  • Jul 22, 2009 5:01am Jul 22, 2009 5:01am
Quoting GEfx
Hi everyone, hope this is another good trading day. fti, this is a serious range trading market for sure, which requires focus and patience.

Been keeping an eye on US earnings reports and have noticed that most are making good earnings but missing the top line, so wonder when equity prices will react to the fact that recession is still hanging on in a big way.

Big Ben is in front of the US Senate today, but I think he said it all in front of the US House yesterday. Industrial orders in Europe weaker than expected, BOE seems to be sitting...
hey GEfx,

Difficult cross road now, lets see if NY have better ideas.
Nice coffee and relax for now.

regards
  • #8,970
  • Edited 7:58am Jul 22, 2009 7:42am | Edited 7:58am
Greeting to everyone.
Tough week so far:
Ben kicked me yesterday.

A good reminder to be careful
when the uncle is talking.
Bad habits die hard!

Have fun all.

Here is a gift...my best video this week..
http://www.youtube.com/watch?v=n0NYB...layer_embedded
Empty as water and soft as a facing wind mountain
  • #8,971
  • Edited 8:14am Jul 22, 2009 8:00am | Edited 8:14am
Still waiting and watching. Focus is on E/J and $/CAD now and will jump on the next good opportunity. Ranges are holding but that could change.

Edit: Been in two trades so far where I risked 15 pips to get 25, now I am playing with the houses money for the next two trades. Just scalping and spending most of the time on the sidelines and not in the market.
  • #8,972
  • Jul 22, 2009 8:21am Jul 22, 2009 8:21am
5 minutes warm up course before Ben Grilling party today:

A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp.

They rub it and a Genie comes out.
The Genie says, 'I'll give each of you just one wish.'
'Me first! Me first!' says the admin clerk. 'I want to be in the Bahamas , driving a speedboat, without a care in the world.'
Puff! She's gone.

'Me next! Me next!' says the sales rep. 'I want to be in Hawaii , relaxing on the beach with my personal masseuse, an endless supply of Pina Coladas and the love of my life.'

Puff! He's gone.

'OK, you're up,' the Genie says to the manager.
The manager says, 'I want those two back in the office after lunch.'


Moral of the story:
Always let bosses have the first say.
  • #8,973
  • Edited 10:21am Jul 22, 2009 8:57am | Edited 10:21am
Short the $/CAD at 1.1025 and watching for a long position on the E/Y.

Edit: CAD is near 1.1000 so I am covering 5 pips and letting it run if it will run. Will take some off at .0985 and protect 15 there, too.
Edit: Out of the CAD with 5 and will jump back in if circumstances allow another trade
Edit: Long the E/Y at 132.68 and will lighten up at 132.96
Edit: Short the CAD again at 1.1026 and will exit at 1035 or 0995.
Edit: Out of the E/Y with 2, YES 2!, pips
Edit: Out of the CAD with -8 pips

Taking a 10 min break to get some fresh air and then back to trading.
Edit: Just got back and both the CAD and E/J trades moved as described, so missed timed them both. Oh well, that's trading on some days. LOL
Edit: Back in the E/Y at 133.11, protecting 10 pips now
Edit: Took 30 pips on the E/Y and now on the sidelines
  • #8,974
  • Jul 22, 2009 9:11am Jul 22, 2009 9:11am
@imjscn, lol

goodnite all good trading good luck

bye
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,975
  • Jul 22, 2009 10:30am Jul 22, 2009 10:30am
OK, I think I will call it a day. Early scalping along with the last E/J trade, netted against a small loss on the CAD / E/J scalping effort, makes it a good trading day. Very tricky environment that requires great focus and attention to PA. TA work in the morning has been of little use, which for me is an exception, but PA rules everyday. Hope you are all doing well. Wish there were more people here.
  • #8,976
  • Jul 22, 2009 11:33am Jul 22, 2009 11:33am
Quoting GEfx
OK, I think I will call it a day. Early scalping along with the last E/J trade, netted against a small loss on the CAD / E/J scalping effort, makes it a good trading day. Very tricky environment that requires great focus and attention to PA. TA work in the morning has been of little use, which for me is an exception, but PA rules everyday. Hope you are all doing well. Wish there were more people here.
Hi GEfx,
I read her right today.
She wanna play range . I play range strategies, and i kicked her donkey today both ways. And more kicking after NY lunch.

Trade well
Goodnight.
  • #8,977
  • Jul 22, 2009 11:44am Jul 22, 2009 11:44am
Quoting imjscn
5 minutes warm up course before Ben Grilling party today:

[font=Arial][size=4][font=Arial][size=2][b][b]A sales rep, an...
Hi imjscn,

Fine story, reminds me of heineken ad, but better. the moral , I cannot explain better.

You are senior management stuff, I can tell.

trade well
regards
  • #8,978
  • Jul 22, 2009 12:13pm Jul 22, 2009 12:13pm
Quoting fti
Hi GEfx,
I read her right today.
She wanna play range . I play range strategies, and i kicked her donkey today both ways. And more kicking after NY lunch.

Trade well
Goodnight.
Hi fti, yes the ranges are pretty big, too. Glad to hear that you are trading today. I tried to trade and document here today as I was going along but that is kind of hard when range trading, but I think I got most of the action document here. Night.
  • #8,979
  • Jul 22, 2009 12:18pm Jul 22, 2009 12:18pm
Quoting GEfx
Hi fti, yes the ranges are pretty big, too. Glad to hear that you are trading today. I tried to trade and document here today as I was going along but that is kind of hard when range trading, but I think I got most of the action document here. Night.
Hi GEfx,
Thanks for your blotter, Seems you are scalping.
Anyway , You seem to know your stuff.
Trade well , when scalping be very nimble.
Seems the Currencies want to show strength, But mostly this is fight zone, So be on lookout for tussle, mostly trip to nowhere on the wide.

Good Fortune.
regards
  • #8,980
  • Jul 22, 2009 2:43pm Jul 22, 2009 2:43pm
Quoting luSan
Greeting to everyone.
Have fun all.

Here is a gift...my best video this week..
http://www.youtube.com/watch?v=n0NYB...layer_embedded
Thanx LuSan for the link.
Great Entertainment
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