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Technical Analysis Fallacy

  • #10,181
  • Sep 2, 2009 2:23am Sep 2, 2009 2:23am
Quoting mijamoto
Am I only confused or I just find these markets totally messed up
Well, since I stopped trying to add to attacks and ride non-existent trends and started taking quick profits instead, I have been doing a lot better in the markets as they are at the moment.
  • #10,182
  • Sep 2, 2009 2:27am Sep 2, 2009 2:27am
Quoting mijamoto
Am I only confused or I just find these markets totally messed up
Maybe just take each day as it comes and concentrate on small and short attacks based on what you see during the day. Monday and Tuesday were OK for me. Today is completely different. A very small range so far today with the EUR/USD but I am still making money. The range and direction may change with the New York session. Anyway all the best for your trading and keep practicing. Ray
  • #10,183
  • Sep 2, 2009 2:42am Sep 2, 2009 2:42am
There are 2 sure things in the markets:

- retracements
- your money

As for technical indicators, I've been trying for 5 years now to make these indicators matter more than 5% in my trading style. Sometimes I even think that I'm missing something, that I don't know how to use the indicators.
But no, actually I'm making as much as possible out of them because they really don't mean anything except on rare occasions. If I may give an advice to someone that wants to start winning constantly in the markets - then it would be to concentrate on the price, feel the market and forget about indicators.
And when he does reach a level where he makes money constantly then I would add 1 "indicator" to his trading style, the most market-adapted "indicator" possible: Elliott-wave counts. The rest are stories...
  • #10,184
  • Sep 2, 2009 2:50am Sep 2, 2009 2:50am
Many thanks to FTI for this magic thread. Also thanks to those that have contributed to keep it vital.

I’m a quite new trader to Forex, and this thread has really helped me to free my trading from its self-imposed limits induced by reading too many “experts”. Thanks to FTI’s teachings, I know it is OK to let my mind fly, and simply trade. My results have been really stunning to me since following this advice, and dreams of making a living from trading now seem to be a very possible reality for my near future.

My heartfelt thanks.

Peter.
Holy Grail part 1. - Cut loses short.
  • #10,185
  • Sep 2, 2009 3:19am Sep 2, 2009 3:19am
http://www.villa-holiday-company.co.uk/images/who.bmp

Does anyone know who this guy is? He has posted a copy of a lot of this thread on scribd.com... one of us or a spy?
  • #10,186
  • Sep 2, 2009 4:00am Sep 2, 2009 4:00am
Quoting ukmanthailan
http://www.villa-holiday-company.co.uk/images/who.bmp

Does anyone know who this guy is? He has posted a copy of a lot of this thread on scribd.com... one of us or a spy?
please post a link. if someone is posting else where as original content, the FF mods may like to know
  • #10,187
  • Sep 2, 2009 4:09am Sep 2, 2009 4:09am
It is here (not sure if you will be able to get in without logging in or not)

http://www.scribd.com/doc/16424617/FTIRANT

He has a blog here, whoever he is:

http://www.ip204.blogspot.com/
  • #10,188
  • Edited 4:43am Sep 2, 2009 4:32am | Edited 4:43am
Quoting ukmanthailan
It is here (not sure if you will be able to get in without logging in or not)

http://www.scribd.com/doc/16424617/FTIRANT

He has a blog here, whoever he is:

http://www.ip204.blogspot.com/
i have a feeling this guy uploaded the maheswara notes. i keep reading them thank you for sharing. would not even think about sharing it outside this thread or only to a good friend.

and centrainly not edit the head-text "rant" this makes me mad.
even with my eyes open i cannot see everything
  • #10,189
  • Sep 2, 2009 4:49am Sep 2, 2009 4:49am
Quoting j-pax
i have a feeling this guy uploaded the maheswara notes. i keep reading them thank you for sharing. would not even think about sharing it outside this thread or to a good friend.

and centrainly not edit the head-text "rant" this makes me mad.
just checked ,
yeah thats the note I made ...I repaired spellings and created lines...

it shouldnt matter though , not everyone can understand wats written...
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,190
  • Sep 2, 2009 4:54am Sep 2, 2009 4:54am
No it doesn't matter, it's just annoying. Putting it in creative writing / humour is insulting as is the title. If you read his blog the guy is obviously a loser though. Talks about having a big draw-down with his "system" and then goes on about having fresh funds to manage. I doubt that anyone who had mastered day-trading would bother writing a blog reviewing books to try and make a few pennies from amazon referrals.

EDIT: Did you give your notes to many people then? I got asked by resistance ages ago (as I did a similar thing to you) but didn't reply.

EDIT: Anyone else grab some of the cable action today?
  • #10,191
  • Sep 2, 2009 5:01am Sep 2, 2009 5:01am
All squared in case there is some movement in 15 mins with ADP Non-Farm Employents Figs. Hope all are trading well. Ray
  • #10,192
  • Sep 2, 2009 5:03am Sep 2, 2009 5:03am
Quoting ukmanthailan
No it doesn't matter, it's just annoying. Putting it in creative writing / humour is insulting as is the title. If you read his blog the guy is obviously a loser though. Talks about having a big draw-down with his "system" and then goes on about having fresh funds to manage. I doubt that anyone who had mastered day-trading would bother writing a blog reviewing books to try and make a few pennies from amazon referrals.

EDIT: Did you give your notes to many people then? I got asked by resistance ages ago (as I did a similar thing to you) but...
Hey guys, good to see ya all here.

Seems like it's him
http://www.forexfactory.com/member.php?u=13655

you can send him pm.

Juso
  • #10,193
  • Sep 2, 2009 5:05am Sep 2, 2009 5:05am
Yeah that user name matches the email address on his blog. (I see fti is a buddy of his !)

EDIT: Hi Ray, I'm all squared away waiting on the figs too.
  • #10,194
  • Sep 2, 2009 5:11am Sep 2, 2009 5:11am
no , dont think I ve given it to anyone privately ,
I just posted it here a while ago ,
so the guy must be ff member ...

anyway its actually good he put it under humor , such material if taken seriously ... that ll reduce the losers out there ... and we do need the losers since its a zerosum game , who else will take the other side of my trades otherwise
just jesting , no worry la , fti sir crafted a lot of work into it , not easy to decipher it and learn it in a week

true about the blog owner though ... none of his blog material is his own ... cut copy paste ... forever leecher ...

one more thing before i forget , the market has been comparatively easy lately, most swings have good retracements and so rescuing is not such a tough work , just wanted to warn everyone not to get careless due to this, she bites back when u least expect it , so as usual , stay nimble

goodtrading
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,195
  • Sep 2, 2009 5:23am Sep 2, 2009 5:23am
I only came across it because I was having another futile search for Scientific Interpretation of Bar Charts... Did anyone ever manage to get an electronic copy of that?

EDIT: You are right that the beauty of this method is that you could tell every trader in the world and most of them would ignore you. It doesn't suit most people's search for a system that they can leave running while they play golf and rake in the money. Plus people don't take kindly to being told their indicators are not all they are cracked up to be.

Wow, gold has gone ballistic!
  • #10,196
  • Sep 2, 2009 5:43am Sep 2, 2009 5:43am
Quoting maheswara
no , dont think I ve given it to anyone privately ,
I just posted it here a while ago ,
so the guy must be ff member ...

anyway its actually good he put it under humor , such material if taken seriously ... that ll reduce the losers out there ... and we do need the losers since its a zerosum game , who else will take the other side of my trades otherwise
just jesting , no worry la , fti sir crafted a lot of work into it , not easy to decipher it and learn it in a week

true about the blog owner thought ... none of his blog material is...
I just visit the place...
first I got pissed...then I though...wait a minute...nobody could figure out this thing without going to the fountain and taking a long long journey...so relax...this is just pure and free advertisment for the chief...and I smiled.
Cheers...
Empty as water and soft as a facing wind mountain
  • #10,197
  • Sep 2, 2009 5:47am Sep 2, 2009 5:47am
Quoting ukmanthailan
Well, since I stopped trying to add to attacks and ride non-existent trends and started taking quick profits instead, I have been doing a lot better in the markets as they are at the moment.
Opps...the easy and slow dance...very relaxed
be carefull ...quick profits might cut short the winners....
...go for the feel -or PA momentum/volatility-
not by the length of time...
Empty as water and soft as a facing wind mountain
  • #10,198
  • Sep 2, 2009 6:40am Sep 2, 2009 6:40am
Well the first time I tried to add to an attack today it went against me as usual. Maybe we have different styles. I may lose some profits due to getting out too soon but I have been making good percentages since I stopped trying to press attacks. It is something I will have to get to grips with eventually - maybe it is because I am not as experienced as you - plus we are trading different pairs?
  • #10,199
  • Sep 2, 2009 6:42am Sep 2, 2009 6:42am
Hello, which strategy should I use for forex trading.
  • #10,200
  • Sep 2, 2009 6:51am Sep 2, 2009 6:51am
Quoting batuhan
Hello, which strategy should I use for forex trading.
Of course, fti dance style
Empty as water and soft as a facing wind mountain
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