Technical Analysis Fallacy

Congrats GEfx!
Patience and nimbleness are very important ingredients for success ....

CU,
MaMood

Edit: In my second read I just recognized your second edit.
Does that mean, that you have left your trade unattended?
If so: That's not very close to the basic idea of trading fti's style. Seems a little like your "greed scorpion" has stepped in. But finally a profit is a profit. But next time i would think twice, if I would chose that MO agian ...

Glad to hear you made out well! Definately a nice move to catch today.

I, unfortunately, did not pay attention as well you did lol. I had a decent sized position long USD, averaged at the very bottom of the Impulse...she caught me with my pants down and gave me a proper spanking! Was drawn down over 3%, fought back to finish at -.5% for the day, finally just had to cut after 7 hour rescue mission. Haven't been caught against an impulse like that in a very long time, but some things are just inevitable in this business. The thing that kills me, in the heat of battle, I forgot the Cardinal rule of NOT RESCUING INTO the impulse, rescued horribly and had 20% of book exposed at one point.

Ahh, live to fight another day, cant let minor scratch to the book become major dent to the mindset. No more yapping from me, see everyone on the battlefield tomorrow, have a good night!

*EDIT: Just got aggressive with 2 attacks, made some pips back, almost flat for the day. Definately need some rest after this long long day!

lusan and mamood apologize accepted

i know and understand that only joke

im not touched

nice to know you all in this thread

best regard
suma

its make me differend to see the market and control my loses & where to set my stop lose

thanks again tha khe
regard
suma

Not trading until sunday evening...
but I feel that my lady is going south...
See the 1H.

hello tha kho ,
your psycology lesson this time very nature .,
its remind me about relationship with my brother in reallity

and remind me that you have teaching about important thing to see the market is must respect the market < coz market always right >

and the other thing is " suprise me "" that the man on your level behave humble

have a nice days
may god bless you and your family

regard
suma

I remember reading a saying that said something like, "Leaving your home and travelling abroad is halfway to becoming enlightened, but you can become fully enlightened without ever leaving your home", or something like that. In my case, being rather dense in these matters, I had to leave home!

It has certainly opened my eyes to a lot of things though, and it is plain to see in this country that many Westerners have such a deep seated belief in their own superiority that they are often blinded as to the truth of the matter. Unfortunately many of my countrymen are the worst offenders in this respect. Many do not seem to be able to accept that the way they were brought up is not the only way to live and cannot see that their point of view is not objective, as it is based on this upbringing. It's something I struggle with at times, as it is so hard to suspend judgement at times, but completely necessary and very worthwhile, IMO.

Anyway, sorry to ramble on, that wasn't a comment on posters here, just my musings on immersing yourself in an alien culture. In some ways it is the same as this MO - go with the flow or you will have a lot of hassles otherwise.

Good Morning fti and friends.

Just for info:

3 [IFR Forex Watch] (C) 09 2337
[Yen Briefing]
[04:20 GMT Aug 20th] USD/JPY and the JPY crosses all traded better bid today,
higher initially into the Tokyo fix on demand which is usually seen on the 20th.
All pairs eased off thereafter as this demand abated and on-going concerns over
the Chinese stock markets. Such fears look to have been overblown today with
Shanghai rallying after its open and pushing the JPY crosses higher still. The
focus remained on the Shanghai Composite thereafter. USD/JPY proved to be a
laggard with players here aware of recently lower Treasury yields. To wit, 10-
year yields fell to 3.467% as of the New York close from a high of 3.860% on
August 10. Bidding interest was solid around 94.00 but offering interest was
noted ahead of 94.50 and 95.00. Stops are eyed above both levels, larger above
the latter. The range today was 93.98-94.41. EUR/JPY rallied from bids in the
133.70-80 region to as high as 134.39. Offers are eyed here ahead of 134.50 and
135.00 but stops above both. The low was 133.76. Other crosses traded similarly
with GBP/JPY up from 155.40 to 156.12, AUD/JPY from 77.90 to 78.45 and NZD/JPY
from 63.30 to 63.81. [size=1][email protected][/size]
[HEADLINE PAGE 2300] [INDEX 2395] [USD/JPY TRADER 2336]

Disclaimer: Be aware of possible COw Dung included ;-)

Just for info:

3 [IFR Forex Watch] (C) 09 2335
[Euro Briefing]]
[04:18 GMT August 20th] The EUR/USD opened in Asia around 1.4230 after soaring higher during the US session after a spike higher in the oil price led Wall Street higher and reversed the risk-averse trading that dominated the London session. The EUR/USD raced up to 1.4258 in early Asian when Tokyo aggressively
bought EUR/JPY - but quickly reversed back to hourly support at 1.4207 when
Swiss names crushed it from the highs and the Nikkei fell into the red. The
EUR/USD recovered after the Shanghai Composite opened over 1% higher and
proceeded to swing between 1.4210/30 for the balance of the Asian morning
session in tempo with swings in the Shanghai Composite between 0.5% and 2.5%
higher.
The resilience in the equity and commodity markets combined with the
falling US Treasury yields (10-year Treasuries closed at 3.45% down from 3.85%
after US jobs number) - suggests that the USD might stay under pressure in the
immediate-term at least. Limiting EUR/USD follow-through is talk of sovereign
interest on both sides of the market. [size=1][email protected][/size]
[HEADLINE PAGE 2300] [INDEX 2395] [USD/EUR TRADER 2334]

Disclaimer: Be aware of possible Cow Dung included ;-)

And her comes the recent Asian sentiment:

0610 GMT [Dow Jones] ASIAN SUMMARY: Regional stock markets mostly higher; Wall Street's rise gives positive cue early, gains extended as Shanghai playing nicely, not spoiling party. Surge in oil futures to 2-month high in NY boosts energy plays. Shanghai Composite +3.6%, Shenzhen +2.9%. Nikkei ends +1.8%, Kospi +2.0%, S&P/ASX 200 +0.3%, STI +1.5%, HSI +1.9%, NZ shares down 0.9%, Sensex +2.0%. Taiwan shares end down 0.8% on worries possible cabinet reshuffle may delay financial MOU, trade pact with China. DJIA futures up 39 points in screen trade. FX markets taking cue from higher equities markets;
[...]

Disclaimer: Be aware of possible Cow Dung included ;-?

USD bears in town

enjoy while dreaming .....

Yea Baby...

http://www.poster.net/austin-powers/...ss-4900072.jpg

Sonic

Hi!, MaMood,
While Mr FTI is not around to get explaination, I hope you don’t mind to answer my questions as below:

I have a micro account with FXCM LTD, one of the account statements read like this :

………The account has been setup with automated execution. FXCM Ltd reserves the right to convert an account from Dealing Desk to No Dealing Desk, or vice versa, without notice, at its sole discretion.

It seems important and bias towards FXCM Ltd, so:
1) what is “Dealing Desk” and “No Dealing Desk” ?
2) what does the whole statement means ?

Thank you
Regards,

hey , just my guess

dealing desk are the guys responsible to maintain their company exposures as a whole , therefore if you are routed through a dealing desk , they are taking ur trades seriously , so that they can hedge off u or if needed pass ur trades into the liquidity pool they have
if its automatic execution , they are not bothered about ur trades or ur account , and most cases , they just bucket ur orders ... this way u will always get the price u see on urscreen , since they are not too bothered on ur trades ,

once u ve become profitable and have trades thats big enough to tap into their liquidity pool ,they ll route u thru a dealing desk , and getting price wouldnt be as easy as automatic execution

just my thought though , cld be wrong , but i dont see any other way how these brokers can give price for sizes like micro , nano or mini ,
since most liquidity pools have 1mil as standard ticket...

I believe you are right mahes. Some firms particularly try to discourage scalping too and if they take you off automatic execution you have to phone through every trade which can lose you time and make your strategy unworkable - and of course they can choose what to quote you...

Great post!

I am fairly new in the trading business, and can fully appreciate your point of view. I believe that, especially new and inexperienced traders, can easily be mislead, through clever marketing, into believing that some or other program can guarantee riches beyond one's wildest dreams. I think that new traders sometimes are so desperate to be successfull that they will grab onto anything to help them. In stead of using the program as a tool, they put all their hopes and dreams into the tool and believe the tool to be the easy answer to a "quick fix" to making millions.

Which trading tool do you use the most and have you found to be the most successful?

Cheers

fddup

there is only one tool that will stand the test of time in trading,
and thats your mind ...

USD bears met ghost on top against cable?

ghost was conflicting data releases.

Hi Billionaire,

sorry for answering late, but I was busy with trading my Lady. Not easy today. Only a small range yet, to make some pips ...

To your question:
I think maheswara is almost right with his answer. It is just the distinction, if your order is handled fully automatically or if there are some human beings between the market and your order execution.
It depends on the broker and the situation which way of handling is more advantageous.
From my experience it is correct, that orders above a predefined size are handled by the dealing desk stuff (Often they use the terminus "Streamline dealing" as well). The same, if you are trading in away, that seems to be to unconvinient/expensive for the broker.

CU,
MaMood