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Technical Analysis Fallacy

  • #9,961
  • Aug 26, 2009 6:17am Aug 26, 2009 6:17am
Quoting ukmanthailan
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.
Hi ukmanthailan, take some time to clear your mind before your next trade. Scale back a bit and work on what works best for you, do not rush it. Be careful today as the markets may jump.
  • #9,962
  • Aug 26, 2009 6:17am Aug 26, 2009 6:17am
Quoting ukmanthailan
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.
uk...I would suggest to take a break....go for a walk until the mindset is stable again...clearly as a said: revenge trading. I could be wrong, not the first time, but I think that you became careless due to having your attention on your own writing and the scorpion sneaked in....take it easy...probably the tendency of jumping back in to recover is still lurking around...a pause is needed...a pause of several days?
Empty as water and soft as a facing wind mountain
  • #9,963
  • Aug 26, 2009 6:19am Aug 26, 2009 6:19am
I was just about to say I was going to have a few days off and then I wondered if I could actually stick to it, which I guess means I really do need a few days off to get some kind of discipline going.
  • #9,964
  • Aug 26, 2009 6:23am Aug 26, 2009 6:23am
Quoting GEfx
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.
Go get em'
  • #9,965
  • Aug 26, 2009 6:32am Aug 26, 2009 6:32am
Quoting ukmanthailan
I was just about to say I was going to have a few days off and then I wondered if I could actually stick to it, which I guess means I really do need a few days off to get some kind of discipline going.

Man...if you jump back in...so soon...
Oma will give you another spanking...stop it...
smell the flowers....
go to a museum...
have a beer..
to to church...
whatever but
do not look at chart for a while...
ok?
Empty as water and soft as a facing wind mountain
  • #9,966
  • Aug 26, 2009 6:35am Aug 26, 2009 6:35am
Looks like the $Bulls are in town, Euro markets down, Dow Futures just went negative. Oil just went red. Gold still green?

Good smack down GEfx.

Trade well everybody
  • #9,967
  • Aug 26, 2009 6:36am Aug 26, 2009 6:36am
Quoting luSan
do not look at chart for a while...
ok?
Yes Dad

I reckon I could win the olympics at predicting retraces by the way - it's always exactly where I try and press my attack with a second trade!
  • #9,968
  • Aug 26, 2009 6:38am Aug 26, 2009 6:38am
Quoting auxesis
Looks like the $Bulls are in town, Euro markets down, Dow Futures just went negative. Oil just went red. Gold still green?

Good smack down GEfx.

Trade well everybody
Dow futures have been going down for the last couple of hours or so, if I am looking at the right chart
  • #9,969
  • Aug 26, 2009 6:38am Aug 26, 2009 6:38am
Quoting auxesis
Go get em'
Hope you are in here too. Protecting 25 pips and if I am taken out will look for a reentry point. E/Y is stuck, should have focused on the E/$, oh well.
  • #9,970
  • Aug 26, 2009 6:39am Aug 26, 2009 6:39am
Quoting ukmanthailan
Yes Dad

I reckon I could win the olympics at predicting retraces by the way - it's always exactly where I try and press my attack with a second trade!
Your entering on the legs extension.
  • #9,971
  • Aug 26, 2009 6:41am Aug 26, 2009 6:41am
Quoting GEfx
Hope you are in here too. Protecting 25 pips and if I am taken out will look for a reentry point. E/Y is stuck, should have focused on the E/$, oh well.
I'm on the side lines sipping coffee, trying to wake up. Watching your make all the money!!!

Good job, make a cart load of pips today!
  • #9,972
  • Aug 26, 2009 6:42am Aug 26, 2009 6:42am
hey FTI, I need some help.... its regarding the interbank market and industry and does involve confidential information and the discussion might not be too relevant for the masses here as well. I was wondering if I could pm or email u?
  • #9,973
  • Aug 26, 2009 6:44am Aug 26, 2009 6:44am
Quoting auxesis
Your entering on the legs extension.
You mean where it travels a bit further just before pinging back on the retrace?
  • #9,974
  • Aug 26, 2009 6:44am Aug 26, 2009 6:44am
OK, square now on the pound. I am thinking the juice is gone there for a while, so time for coffee and some fresh air. Back later.
  • #9,975
  • Aug 26, 2009 6:48am Aug 26, 2009 6:48am
Quoting ukmanthailan
Dow futures have been going down for the last couple of hours or so, if I am looking at the right chart
Don't have the Dow charts up, was watching the squawk box(TV), it's in relation to yesterdays close. It sounds like, it I'm hearing it correctly, Asia was up, but Euro down.
  • #9,976
  • Aug 26, 2009 6:49am Aug 26, 2009 6:49am
I just checked the chart...it made a big kind of wigwam top and started coming down the other side about 4 hours ago (how's that for pattern recognition? ).
  • #9,977
  • Aug 26, 2009 6:49am Aug 26, 2009 6:49am
Quoting ukmanthailan
You mean where it travels a bit further just before pinging back on the retrace?
If long are your entering after it takes out the last high, breakout?
  • #9,978
  • Aug 26, 2009 6:53am Aug 26, 2009 6:53am
Ah, sorry I see what you mean. Yes, I did - I entered short after it had pushed past the previous low.

I get a nasty feeling someone is going to tell me to reread this whole thread again in a minute - I am already doing that though! In fact it's the accompanying material that I need to read properly this time.
  • #9,979
  • Aug 26, 2009 6:56am Aug 26, 2009 6:56am
Quoting auxesis
Don't have the Dow charts up, was watching the squawk box(TV), it's in relation to yesterdays close. It sounds like, it I'm hearing it correctly, Asia was up, but Euro down.
Hi Auxesis,

yes you have heared it right.
Euro equities are down, despite some better than expected IFO Business Climate Index.

By the way: Have bought the DvD of this very enthusiastic and emotional Louie Giglio via ebay. I can't await to watch. But unfortunately it is shipped from Australia and will take some time to Europe ...
  • #9,980
  • Aug 26, 2009 7:10am Aug 26, 2009 7:10am
Quoting MaMood
Hi Auxesis,

yes you have heared it right.
Euro equities are down, despite some better than expected IFO Business Climate Index.

By the way: Have bought the DvD of this very enthusiastic and emotional Louie Giglio via ebay. I can't await to watch. But unfortunately it is shipped from Australia and will take some time to Europe ...
I think you will really like it! Grab some friends and make a DvD party.
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