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Technical Analysis Fallacy

  • #9,001
  • Jul 23, 2009 5:27am Jul 23, 2009 5:27am
Hi all,
Just catching up on the thread. No trading today, out playing golf with friends. Just put a scout out short on the EUR/USD 1.4230 after a small pullback from 1.4220. Had a great day yesterday, most profitable in the last two weeks. Trading without a physical stop loss is a great advantage in range trading. (Also in trend trading). Yesterday 1.4200 was like a magnet. I just went short when price was above and long when price was below.
Looks like folks here are trading the range with good success. Cheers Ray
  • #9,002
  • Jul 23, 2009 5:29am Jul 23, 2009 5:29am
Quoting 1234
Hi all,
Just catching up on the thread. No trading today, out playing golf with friends. Just put a scout out short on the EUR/USD 1.4230 after a small pullback from 1.4220. Had a great day yesterday, most profitable in the last two weeks. Trading without a physical stop loss is a great advantage in range trading. (Also in trend trading). Yesterday 1.4200 was like a magnet. I just went short when price was above and long when price was below.
Looks like folks here are trading the range with good success. Cheers Ray
Ray.
  • #9,003
  • Jul 23, 2009 5:36am Jul 23, 2009 5:36am
Quoting fti
Hi joypips , its been a long time.

Sorry, I cannot view dur to country restrictions. I will try tunnel there and let you know. LOL
.
Hi fti....it seems your country has strict censorship rules...

This is the film Singapore's censorship board doesn't want people to see. ... Watch the President's press conference on YouTube at 8:00 p.m. EDT on ...
  • #9,004
  • Jul 23, 2009 5:39am Jul 23, 2009 5:39am
and here is the offending video.....

Inserted Video
  • #9,005
  • Jul 23, 2009 5:43am Jul 23, 2009 5:43am
Quoting joypips
Hi fti....it seems your country has strict censorship rules...

This is the film Singapore's censorship board doesn't want people to see. ... Watch the President's press conference on YouTube at 8:00 p.m. EDT on ...
yes, censorship, here is very strict.
But if public servants , strangles the masses too much, then I guess they face the music eventually. Here their bosses are still elected by votes.

LOL thanks for trying to help.

regards
  • #9,006
  • Jul 23, 2009 5:45am Jul 23, 2009 5:45am
Quoting fti
No, Mark, nikkei225 and Taiwan Index is off topic in Forex forum. LOL.

regards

Hello Fti

I know that my question is off topic, but I would like to better understand trading in structured (exchange) makets.

What are the main differences in your approach to trading indexes?
Does MO and MM stay the same? How do you handle the time limitations of exchange session (hard to make protracted rescue campaign) and do you ever leave scout or part of position overnight?
the worst horse can be the best one
  • #9,007
  • Edited 6:37am Jul 23, 2009 6:22am | Edited 6:37am
Quoting maheswara
hola sir ,
hows ur other new trading avenue going ? index right ?

getting ready for a thunderstorm too , meanwhile implied hit n run strat
yep...you got me...
off goes the hat...
up with the umbrella.
Empty as water and soft as a facing wind mountain
  • #9,008
  • Jul 23, 2009 6:34am Jul 23, 2009 6:34am
Quoting Ronin
Hello Fti

I know that my question is off topic, but I would like to better understand trading in structured (exchange) makets.

What are the main differences in your approach to trading indexes?
Does MO and MM stay the same? How do you handle the time limitations of exchange session (hard to make protracted rescue campaign) and do you ever leave scout or part of position overnight?
Hi Ronin,
Basically, the main difference between structured markets and OTC is that OTC prices can go over your bids or offers without filling you first. In structured markets, such infractions cannot happen.
The other is brokerage. As fees are levied on order-filling(ie exchange fees) and clearing fees,and bid and offer spreads, so makes it more expensive to strategise trades.
To defary the disadvantage of bro, one should join as members to exchange as locals, where the cost of tading and positions cost goes down tremendously.

However the trade MO and MM and mindset is the same. If you do not carry positions after exchange closes, then you will not be exposed to unforeseen events risk.

If one wants to carry overnights , it would be more advisable to trade the underlying instead of the derivatives.

In trading derivatives, I never hold overnights and I trade always as exchange member.

I hope this helps

regards
  • #9,009
  • Jul 23, 2009 6:36am Jul 23, 2009 6:36am
Good trading day to everyone. Nice to see some traders here today. I am long the GBP/$ at 1.6494, protecting 2 for now. Focus on the cad and E/J, too, again. Hope you are all doing well, and I love BB King, too.
  • #9,010
  • Edited 7:03am Jul 23, 2009 6:41am | Edited 7:03am
Quoting joypips
and here is the offending video.....

http://www.youtube.com/watch?v=f_DRoUOcupo
LOL, strict as the censorship is , I am able to view the clip.

Govt politics is a very complex subject, way beyond my capacity to understand lest comment on. One thing I know is that there is no perfect govt and that a bad govt is better than no govt. So long as the masses have a say by their votes, I guess absolute abuse of position is in check always.

I believe, the youtube thingy is probably sit in the confines of youtube policies,and if they insist to carry some that may incovenience the users , thats their call, and they will be face whatever music thats due them.

May be just my view, but even considered"good"governments allows much controversial policies to be enacted. for instance , how fair is the copyright and intellectual property rights laws. I feel there is too much lean towards commercial protection than consumer protection. But who checks that the abuse of commercial rights had not outweighted consumer rights? Who champions the consumers? How much royalties are paid for the use of the invention of gunpower for instance. And the trees , who's has the interllectual copyrights for its use?......I can go on until the cows comes home, but at the end of the day , we live with whatever abuses we can stomach and run if we cannot. Life's just never fair.


regards
  • #9,011
  • Jul 23, 2009 6:42am Jul 23, 2009 6:42am
Quoting fti
Hi Ronin,
Basically, the main difference between structured markets and OTC is that OTC prices can go over your bids or offers without filling you first. In structured markets, such infractions cannot happen.
.........................
regards

Thanks a lot for comprehensive answer
the worst horse can be the best one
  • #9,012
  • Jul 23, 2009 6:46am Jul 23, 2009 6:46am
Quoting Ronin
Thanks a lot for comprehensive answer
you're welcome , ronin.
  • #9,013
  • Jul 23, 2009 8:07am Jul 23, 2009 8:07am
OK, now out of the GBP/$ at 1.6497 with 3 pips. It just refused to go above 1.6519, but thats the way the forex trades go sometimes. Now on sidelines evaluating the market.
  • #9,014
  • Jul 23, 2009 9:21am Jul 23, 2009 9:21am
OK, I am long the E/J at 134.68, and short the $/CAD at 1.0954. Need to focus now.
  • #9,015
  • Jul 23, 2009 9:43am Jul 23, 2009 9:43am
Im squaring with a little profit today , tiring day ... I think its the first time I ve sat this long without a break...
I really wanna see it breaks this level though ... but no point ill just make mistakes at this stage...

good day , good trade , good luck , good nite

ciao
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,016
  • Jul 23, 2009 9:48am Jul 23, 2009 9:48am
Quoting maheswara
Im squaring with a little profit today , tiring day ... I think its the first time I ve sat this long without a break...
I really wanna see it breaks this level though ... but no point ill just make mistakes at this stage...

good day , good trade , good luck , good nite

ciao
Hi maheswara,
She tried to take my donkey after figs.
yeap, I showed her who's boss.
Her donkey is mine.
but at one time I was sjitting flour.

good night

regards
  • #9,017
  • Jul 23, 2009 10:21am Jul 23, 2009 10:21am
Hi fti and all!

Hope you are all doing well.
Dow is above 9000 - the first time for this year.
Waiting that my lady will kiss the 9500, but she is a little hesitating ...

By the way: Youtube is working fine here in my region.

Cu,
MaMood
  • #9,018
  • Edited 10:44am Jul 23, 2009 10:25am | Edited 10:44am
OK, now square on the E/J at 135.35, and protecting the CAD trade at 1.0875, I hope giving it some more room to run south. This market is confusing to me, but have been able to set that aside and just follow the PA. Wow, GBP and EUR now moving, too.
Edit: Now square on the CAD at 1.0875. On the sidelines now.
  • #9,019
  • Edited 1:38pm Jul 23, 2009 11:30am | Edited 1:38pm
Quoting auxesis
Sometimes it’s obvious where it appears the markets are headed other times not, maybe better to just focus on what type of market exists now and where’s the best place to attack or trade it. Sometimes I think we limit ourselves by needing to know where and the need to be right…… rather than just letting the market point the way or sometimes the lack of the same… both tell a story

We don’t have to be right to make money….which is the quest of da’ game

Regards,
Beautifully said.
thanks for the reminder of do you want to make money or be right.

watching 4250 and 4289 areas and how they respond.

will be taking her back up watching 4182-4200.

although I cant help to wonder if were begining a move down , getting in position for next week.
Be watching close.
  • #9,020
  • Jul 23, 2009 11:45am Jul 23, 2009 11:45am
Still on the sidelines and am feeling tired. I think its time to call it a day. Discovered long time ago that it is dangerous to trade when tired and when the mind not able to keep up. I have been avoiding any trade of the EUR/$ all week, and am now looking for a reversal situation there that I may be interested in trading. Until then, the CAD, E/J, and GBP/$ have performed well this week. See what develops between now and London. Good trading and be well everyone.
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