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Technical Analysis Fallacy

  • #9,941
  • Aug 25, 2009 7:31pm Aug 25, 2009 7:31pm
Quoting auxesis
buying euro scout in 4283
Wonderfull...let us see you are a bear and I am a bull...PA will choose a partner...
Empty as water and soft as a facing wind mountain
  • #9,942
  • Aug 25, 2009 7:47pm Aug 25, 2009 7:47pm
Well let's see if she has the guts to get up and stay above 4300
  • #9,943
  • Aug 25, 2009 8:14pm Aug 25, 2009 8:14pm
something like this
Attached Image
  • #9,944
  • Aug 25, 2009 8:30pm Aug 25, 2009 8:30pm
It's got to do something here or it looks like tight rangey rangey till London

edit out @86, look to reenter if it decides to do something, g-nite everyone
  • #9,945
  • Aug 25, 2009 8:33pm Aug 25, 2009 8:33pm
Quoting luSan

Be carefull...this market is full of uncertainty.
we must remain very very flexible...
any rigidity kills...as the Chief told us....
I mean:
nothing is true...everything is true...the best?
keep...
thank you lusan,,,,,

i think this is already answer my question ,,

and apologize,,, now i realise ,, from now on i never talk / judge other people method coz is no good < no wise > and no right /or no wrong answer

i will trade what make me comfortable / and more profit than lose
< and this thread remind me < rather similar > with feb 2865 thread

see you ,,, have a good trade for all

regard
suma
  • #9,946
  • Aug 25, 2009 8:46pm Aug 25, 2009 8:46pm
Quoting sumakianlee
thank you lusan,,,,,

i think this is already answer my question ,,

and apologize,,, now i realise ,, from now on i never talk / judge other people method coz is no good < no wise > and no right /or no wrong answer

i will trade what make me comfortable / and more profit than lose
< and this thread remind me < rather similar > with feb 2865 thread

see you ,,, have a good trade for all

regard
suma
You are welcome...now I just wait for this thing to go one way or the other way....
Empty as water and soft as a facing wind mountain
  • #9,947
  • Aug 26, 2009 5:37am Aug 26, 2009 5:37am
Somebody became a greedy pig and got taught a lesson

I wish this wasn't quite so much like staring in the mirror...
  • #9,948
  • Aug 26, 2009 5:41am Aug 26, 2009 5:41am
Quoting ukmanthailan
Somebody became a greedy pig and got taught a lesson

I wish this wasn't quite so much like staring in the mirror...
what happened?

Edit: squared and waiting until after this morning figs.
Empty as water and soft as a facing wind mountain
  • #9,949
  • Aug 26, 2009 5:46am Aug 26, 2009 5:46am
I got a bit carried away with myself and wiped out the week's profits.

Still it could have been a lot worse.
  • #9,950
  • Aug 26, 2009 5:53am Aug 26, 2009 5:53am
Quoting ukmanthailan
I got a bit carried away with myself and wiped out the week's profits.

Still it could have been a lot worse.
Sorry...done quite a few time...you will recover...
but I would reflect on the experience and identify the scorpion that created it.
Empty as water and soft as a facing wind mountain
  • #9,951
  • Aug 26, 2009 5:55am Aug 26, 2009 5:55am
Quoting ukmanthailan
I got a bit carried away with myself and wiped out the week's profits.

Still it could have been a lot worse.
Did this happen in the last few hours? What pair(s) were you trading, please explain. Everything has been in a 50/70 pip range
  • #9,952
  • Aug 26, 2009 5:55am Aug 26, 2009 5:55am
I kinda wish I had run off from this thread the other day like a big girl now.

This is the second time I've had to admit to being stupid on here - I feel like a little schoolboy telling his teacher he's had another accident in his underpants

I would keep quiet about these things but I'm happy enough to announce when I've made a few percent so I feel duty bound to tell all...
  • #9,953
  • Aug 26, 2009 5:57am Aug 26, 2009 5:57am
Quoting auxesis
Did this happen in the last few hours? What pair(s) were you trading, please explain. Everything has been in a 50/70 pip range
I was trading cable and it happened from about 7.15 European time onwards when it was bouncing up and down in 30-50 point moves and I went the wrong way a couple of times and couldn't stop myself trying to get it back straight away and making it worse for myself...

EDIT: I had been writing all night and was trying to finish the last couple of articles and trade at the same time, which didn't really help

EDIT2: And yes, if I had just sat it out and waited for it to come back to me I would have been fine..
  • #9,954
  • Aug 26, 2009 6:01am Aug 26, 2009 6:01am
Quoting ukmanthailan
I kinda wish I had run off from this thread the other day like a big girl now.

This is the second time I've had to admit to being stupid on here - I feel like a little schoolboy telling his teacher he's had another accident in his underpants

I would keep quiet about these things but I'm happy enough to announce when I've made a few percent so I feel duty bound to tell all...
Scorpion identify #1 from your post. Never try to hide your losses, doing so means your unable to deal with them. You made money or lost money, it's the nature of the market.

It sounds like your skewing way to fast, back off, downsize to a level that is more comfortable, and doesn't mess with your mental side.

fwiw, regards

Edit : from your other post it sounds like your rescue MO may be out of line, might reread your notes. Revenge trading never works.
  • #9,955
  • Aug 26, 2009 6:04am Aug 26, 2009 6:04am
Yes you are right - I appreciate the advice. I had to leave the last two trades in and wait for it to come back down or it would have been a lot worse. I seem to have had a mental abberation and decided I had ten times more capital to play with than I really had.
  • #9,956
  • Aug 26, 2009 6:09am Aug 26, 2009 6:09am
Good trading to everyone, am short the GBP/$ a few minutes ago, and watching to see if the E/J will cooperate for a short. We'll see. Good trading and be careful today.
  • #9,957
  • Aug 26, 2009 6:11am Aug 26, 2009 6:11am
If I have to be totally honest, I made a sizeable dent in my starting capital too, but I have just made that back and closed the last two oversized trades out.
  • #9,958
  • Aug 26, 2009 6:12am Aug 26, 2009 6:12am
Quoting ukmanthailan
[...]
EDIT2: And yes, if I had just sat it out and waited for it to come back to me I would have been fine..
Hi Mark,

sorry to here about your "accident".
The only thing I want to say is, that the statement above wont help you in any way. In hindsight everything is easy. But at the moment when you are fighting, you can never be sure, if PA will comeback to you.

Having said that, I do not mean, that you shopuld not be patient. On the first glance patience and nimbleness or two concurrent concepts. But only on the first glance. Your position size should be chosen cautiously, so that you can be patient to wait for a clear market direction. Once you are sure about the new direction, act immediately.
If you are getting in trouble reduce your sizes. So you will get more time to refocus your mindset and resync with the recent PA ...

Hmmmh - not sure if I was bale to make my point clear ....

However - don't give up. As Lusan hzas said already you will recover from that "catastrophe".

Good Luck,
MaMood
  • #9,959
  • Aug 26, 2009 6:13am Aug 26, 2009 6:13am
Quoting ukmanthailan
Yes you are right - I appreciate the advice. I had to leave the last two trades in and wait for it to come back down or it would have been a lot worse. I seem to have had a mental abberation and decided I had ten times more capital to play with than I really had.
U,

There's something to be said for a good trading form, understanding the basics which this thread teaches.... but the biggest lessons are those about self, that the market will expose, it is not fun but it is necessary to learn for future survival.

Hang in there.

a
  • #9,960
  • Aug 26, 2009 6:16am Aug 26, 2009 6:16am
Quoting MaMood
Hi Mark,
Hmmmh - not sure if I was able to make my point clear ....
Yes - seems very clear to me. I hope I can calm down now.

EDIT: Thanks MaMood and thanks again Auxesis. I think it may actually have sunk in this time.
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