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Technical Analysis Fallacy

  • #9,521
  • Aug 10, 2009 3:19am Aug 10, 2009 3:19am
Quoting 012
I have trouble understanding how he is regarded as a novice trader...he has at least 30 years of trading experience.. and he is still doing it.. made 750m usd in 06.. and I have watched the video when it was launched on zero hedge... help me FTI!! I NEED CLARIFICATION!! =)
Are you a member of his subscription service?
  • #9,522
  • Aug 10, 2009 4:33am Aug 10, 2009 4:33am
Never subscribe to any such service no matter how successful he sounds. It's another business, not real trading.
  • #9,523
  • Aug 10, 2009 5:03am Aug 10, 2009 5:03am
Quoting 012
I have trouble understanding how he is regarded as a novice trader...he has at least 30 years of trading experience.. and he is still doing it.. made 750m usd in 06.. and I have watched the video when it was launched on zero hedge... help me FTI!! I NEED CLARIFICATION!! =)
Hi 012,
I don't know who you are or what you need the clarification for. And your profile doesn't say much.

I know who he is. What I mentioned is my opinion of his style. I don't know his Mo, generally from what I understand he uses investor methodology and size manipulation. I also had seen the methodology of the Quantum boys, You may like to talk to top Cat. It each their own.

If you have high regards to that style then there is little I can offer you here. Its world's apart. Maybe , you may be wasting your time here.
  • #9,524
  • Aug 10, 2009 5:37am Aug 10, 2009 5:37am
Quoting imjscn
Never subscribe to any such service no matter how successful he sounds. It's another business, not real trading.
I would hate to make trades from the advice of a subscription service. How can you react to the way your trades are going if you didn't even make the decision to enter the trade yourself? Plus it would be no fun at all, even if you made money.
  • #9,525
  • Aug 10, 2009 5:44am Aug 10, 2009 5:44am
I introduced myself a while ago... and then couldnt find the time.. to participate actively on this thread... because of work obligations...I dont think I am wasting my time here.... I just like to challenge my own train of though..and doubt myself all the time.. because being overly confident and having absolute conviction will kill you in the markets.. its like the story about the scorpion.. I trade spot for a bank.. and I have used your psychological methodologies in dealing with market swings.. extremely effective.. Mad props to you FTI... no disrespect intended.. I am merely just doubting myself.... I never said I favoured his method.. I am just saying I dont think he is a novice trader.
  • #9,526
  • Aug 10, 2009 6:01am Aug 10, 2009 6:01am
Maybe we can put it this way--- Make money in the market is possible. Retire with the money is really difficult.
  • #9,527
  • Aug 10, 2009 6:21am Aug 10, 2009 6:21am
Quoting ukmanthailan
I would hate to make trades from the advice of a subscription service. How can you react to the way your trades are going if you didn't even make the decision to enter the trade yourself? Plus it would be no fun at all, even if you made money.
It's another business-- it's about marketing strategy and search engine optimization.
  • #9,528
  • Aug 10, 2009 7:36am Aug 10, 2009 7:36am
Quoting 012
I introduced myself a while ago... and then couldnt find the time.. to participate actively on this thread... because of work obligations...I dont think I am wasting my time here.... I just like to challenge my own train of though..and doubt myself all the time.. because being overly confident and having absolute conviction will kill you in the markets.. its like the story about the scorpion.. I trade spot for a bank.. and I have used your psychological methodologies in dealing with market swings.. extremely effective.. Mad props to you FTI... no...
Oh 012, sorry didn't realised that. Thought some new sign up trying to stir.

In fact you are right, not really novice as in info and info resources. ( he has his own economist, whether he listens , is another matter.) His style is all muscle and lots of deception. Gets pretty dangerous, stuff rogue traders are made of. he's not making daily living . He hunts once in a blue moon and eats through the dry seasons. A few dry seasons and may starve. Not to bang all investor type traders, but its easier, with OPM.

Just different worlds. Investor MO and Pro MO.

regards
  • #9,529
  • Aug 10, 2009 8:36am Aug 10, 2009 8:36am
today been the hardest half percent I made...
much much more defensive than before the mm is ...
it feels like Im working for money now , lol , market pays me by the hour ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,530
  • Aug 10, 2009 8:40am Aug 10, 2009 8:40am
There's no real move today so far, 0.5% banked, you got her phone number
  • #9,531
  • Aug 10, 2009 9:07am Aug 10, 2009 9:07am
Quoting imjscn
There's no real move today so far, 0.5% banked, you got her phone number
lol true , pretty proud of myself , now she ll have to whip my ass to get me back to earth
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,532
  • Aug 10, 2009 10:09am Aug 10, 2009 10:09am
thank you FTI, that was what I was looking for...yes he is extremely aggressive...he seems like he gets into the ZONE... and completely loses his mind..when he trades... and yes I do agree with you... he picks tops and bottoms... I prefer your style though....you really are TRADING... he is speculating... I am here to learn TRADING... I speculate at my work, I dont trade. I want to learn this because.. George Soros for all his glory has probably lost more than he has made in the FX markets.. if only we pry deeper and get back Black wednesday.. we can see his flaws.. The only way to survive in FX is to trade... because the FX market is a hydra.. its a multi headed beast and I am looking for a way to survive....and I have attended technical forums by reuters and bloomberg, read analysis from tier one banks.. i.e (deutsche, ubs, barclays).. and yet I have a feeling that your way though not perfect, might give a trader the highest chance of survival in these markets....

I have been in this forum for 9 months.. quietly learning and analyzing... and I cant believe my bank isnt paying for this.
KUDOS.
  • #9,533
  • Aug 10, 2009 12:35pm Aug 10, 2009 12:35pm
eyes open e/u 4116 area.
  • #9,534
  • Aug 10, 2009 12:50pm Aug 10, 2009 12:50pm
Quoting maheswara
today been the hardest half percent I made...
much much more defensive than before the mm is ...
it feels like Im working for money now , lol , market pays me by the hour ...
Well, my friend don't think, little of your performance today .
There's hords of people out there may give a leg and an arm just to be flat today.

I do agree its surely a weird day. Expected much higher volatility, but then I am prepared for her variances. Is an ok day, and still waiting for some pip carts to finish the day. Nice south move, wonder who's controlling the dance.

have a better tomorrow.

regards
  • #9,535
  • Aug 10, 2009 12:54pm Aug 10, 2009 12:54pm
Squared till tonight

A nice bull ride today.
All the way from the top.
It pays to be patient sometimes.
Empty as water and soft as a facing wind mountain
  • #9,536
  • Edited 6:24pm Aug 10, 2009 5:09pm | Edited 6:24pm
Quoting fti
Looks to me , like you may be heading for a lot of trouble, if you keep thinking like this. Sure , its nice to know the landscape of your dance floor. But with volatility as we had seen, anything is possible. Hope those views you have , do not freeze you when the music begins.

regards
Freeze is the perfect word as it has done that in the past, not so much any more.
In looking over the charts, taking note of the movement I guess you can say I use them as landmarks to keep track of where Im at and the trend they are areas that are of extra interest.
If it were a street sign on the road Im traveling it would have arrows pointing both ways and have a flashing yellow light (proceed with caution and scale back attacks).

I have to agree my trading is a bit mechanical, one day Ill be able to take off the training wheels, but I post so you know how Im viewing the terrain.
thanks for the reminder
  • #9,537
  • Aug 10, 2009 7:31pm Aug 10, 2009 7:31pm
Quoting lilpip
eyes open e/u 4116 area.
eyes open 4154-58 area.
  • #9,538
  • Aug 10, 2009 8:55pm Aug 10, 2009 8:55pm
Just stopped by to say hi. Monday was an interesting day with only one trade, but a productive trade. Market has much to consider from last week and what is approaching this week. We may be seeing a set up for some really exciting action. I just saw on the news a report of a very large earthquake off the coast of India (I think that is correct) so I hope everyone in the region is safe and in good health. I will be back for London and until then trade well my friends.
  • #9,539
  • Aug 11, 2009 2:23am Aug 11, 2009 2:23am
Hey that looks a bit scary.

Quote
"I was on the balcony, and it felt very strange for a while, like my chair was leaning to one side," said Reuters correspondent Martin Petty in Bangkok. "So I got out of there sharpish. Aftershocks went on for a good few minutes."

Hmmm. I was working through the night and I didn't feel a thing. I wonder if Mr Petty had been overdoing it on the loopy juice. And what was he doing on his balcony at 4.55am? - those naughty journalists.
  • #9,540
  • Aug 11, 2009 1:22pm Aug 11, 2009 1:22pm
Hi Friends,

I know, you do not like this kind of statistics, but find it interesting.
But have a look yourself ....

http://www.forexfactory.com/showpost...&postcount=994

Good trading!

MaMood
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