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Technical Analysis Fallacy

  • #10,221
  • Sep 4, 2009 2:23am Sep 4, 2009 2:23am
One question please. I trade from my car, from the restaurant where i now work. Circumstances there are not very friendly and i often have to leave open trade... But i think, that it is not that affect me too much. Bigger pressure for my psycho.. Do you think, that is better to trade only when i have good circumstances for trading? Or trade as much as possible to learn faster?... Because i am stlill in learning procession....Thank you
  • #10,222
  • Sep 4, 2009 5:27am Sep 4, 2009 5:27am
Quoting Fana
......Do you think, that is better to trade only when i have good circumstances for trading? Or trade as much as possible to learn faster?... Because i am stlill in learning procession....Thank you
Hi,

1st Q: yes, it is better idea to trade in good crcumstances

2nd Q: tade as much as possible is good for learning, but that doesn't mean, for me at least, to trade everywhere, for ex. driving the car..... :-)

You have to care of your mind, it is your main trading tool.

You asked.

Regards,

Textor
  • #10,223
  • Sep 4, 2009 5:42am Sep 4, 2009 5:42am
I absolutely would not trade live from a car parked outside of the restaurant where I worked - you need a clear mind and no distractions to make this work properly.
  • #10,224
  • Sep 4, 2009 7:22am Sep 4, 2009 7:22am
US #'s out in about 5 minutes, she's positioned in the middle of no mans land atm, so be nimble...LAst day of the week and a long weekend for the US boys as they will be out Monday, may be a thin market.

regards
  • #10,225
  • Sep 4, 2009 7:45am Sep 4, 2009 7:45am
Does anyone else get no price updates for a couple of minutes after major news releases and miss the initial reaction completely or is that just a trick of Alpari UK's?
  • #10,226
  • Sep 4, 2009 7:45am Sep 4, 2009 7:45am
looks like there was a lot of pigs. booked some fast pips
  • #10,227
  • Sep 4, 2009 7:52am Sep 4, 2009 7:52am
9.7% unemployment
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,228
  • Sep 4, 2009 7:52am Sep 4, 2009 7:52am
Quoting Fana
One question please. I trade from my car, from the restaurant where i now work. Circumstances there are not very friendly and i often have to leave open trade... But i think, that it is not that affect me too much. Bigger pressure for my psycho.. Do you think, that is better to trade only when i have good circumstances for trading? Or trade as much as possible to learn faster?... Because i am stlill in learning procession....Thank you
When I first began, I used to get up at 3:30 am in the morning to trade for 1 or 2 hours, then go to work. I was somewhat trick it because the mind operate very differently. I think the best is to find a time during the day where you could have a relaxed mind. Now I trade mostly the Tokyo, since I am home. Of course, sometimes I trade from work. I learned from Textor to have metatrader open always on at work and sometimes I dance the NY session when I am doing computer work...in those moments, I give more value to the territory as presented by the 15M than the 5M.
Empty as water and soft as a facing wind mountain
  • #10,229
  • Sep 4, 2009 8:02am Sep 4, 2009 8:02am
Quoting maheswara
9.7% unemployment
why surprised maheswara, I think will go higher....the world is topsy turvy at present...lucky for us we keep our heads ....we don't trade these turbulent times ....???
  • #10,230
  • Sep 4, 2009 8:30am Sep 4, 2009 8:30am
Quoting joypips
why surprised maheswara, I think will go higher....the world is topsy turvy at present...lucky for us we keep our heads ....we don't trade these turbulent times ....???
10% unemployment...

most my friends are graduating from post grad this yr , n I dont know one without a job already ...thats y surprising to see the figures climbing ...

but then again logically the percentage will stop climbing only when u got positive nfp ... at this rate , maybe another 6 months of max 0.2 decline each month?
add 0.2x6 = 1.2%
so we have 11% at max ...

anyway almost squared for me , expecting one more leg , that 1.42 been a troubling number

good weekend to all
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,231
  • Sep 4, 2009 11:03am Sep 4, 2009 11:03am
Well it's been a really exhausting week. I used to wish that the markets were active all weekend as well but now I think it's lucky they're not or I would be stuck in front of this screen 24/7
  • #10,232
  • Edited 1:36pm Sep 4, 2009 11:50am | Edited 1:36pm
I am still trading. Nice run up to 1.4320 on the EUR/USD. It is now around the 1.4300 area. I still have a long scout out. Not sure if price will go higher or maybe just park around this area for the weekend, still have over three hours to go. Had a good NFP, hope others had a good day also. Ray.

All squared about 40 mins ago. Looks like price is just drifting sideways. CU.
  • #10,233
  • Sep 4, 2009 10:47pm Sep 4, 2009 10:47pm
Quoting mystic
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.
Hi Peter,

Welcome aboard,This thread is one of the best thread in FF. right now I'm living in sydney. I've looked at your profile you 're living in Darwin. So how is your broker Gomarkets? good?

Thanks

Pete
  • #10,234
  • Sep 5, 2009 4:09pm Sep 5, 2009 4:09pm
Quoting 5%er
Here is an anticipated trading pathway of the EUR/USD. It is a not derived from technical analysis, but rather intuitive means

Sorry about being late,...but Yes, everything worked out really well.
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  • #10,235
  • Sep 5, 2009 9:25pm Sep 5, 2009 9:25pm
Quoting pete.alfa
Hi Peter,

Welcome aboard,This thread is one of the best thread in FF. right now I'm living in sydney. I've looked at your profile you 're living in Darwin. So how is your broker Gomarkets? good?

Pete
Hi Pete

Thanks.

Before I found this thread I'd spent weeks and weeks reading others. My starting account of $500 was going slowly down with trades being stopped out for more loss than I was profiting. I was doing the usual - trying the indicators and different methods, all the time thinking that my ideas of trading must be wrong since no one else uses just their own judgement. Also everyone seemed to want to have long running trades, while I loved the M1 and M5 charts.

I found this thread with my account down to $450, even though I had 70% plus winning trades. Now my account is $740, and I am one happy trader!

I'm only up to page 190, and the biggest lesson I got so far from this thread is to trust your own judgement and to take full responsability for your trades. No more indicators to slow down my entry.

The second biggest lesson is the idea of never booking a loss unless you really have to. The idea of rescuing trades is magic. I don't bother with all the spreadsheets and ratios. I just trade by eye on the graph. You can see where to set your rescue points and close out points without a calculator.

I'm not saying I have the exact method perfect, but what I do have is working well for me.

Darwin is home until Christmas, then we will move south away from the cyclones. I have the goal of being good enough at trading by then to sustain us without having to get work again. If I'm not, then we will get a part time job around Alice Springs while I learn more. No fixed plans - just see what comes.

I found Go Markets from an email add sent by Trade2win forum. They offer micro trades (what I use) and didn't need thousands of dollars to open an account. They use MT4 as well. I can't compare them to other brokers, but I'm certainly very happy with the service to date.

CU

Peter
Holy Grail part 1. - Cut loses short.
  • #10,236
  • Edited 3:11am Sep 6, 2009 2:28am | Edited 3:11am
Dear I AM

Our Father which art in heaven,
Hallowed be thy name.
Holy Holy Holy
Thy kingdom come.
Thy WILL be done in earth, as it is in heaven.

Give us this day our daily bread, Lord
Opens the eyes of traders here that they may learn.
And provide for themselves and for the needy.

And forgive us our sins, as we forgive our trespassers.
That as Jesus came to forgive our sins,
that we shall learn to forgive those that trespasses us by their sin for they knoweth not what they do.

And lead us not into temptation, by our scorpions
but deliver us from evil, that may come from our folly.

Thank You for your blessings, that I received from angel of far away lands.
For thine is the kingdom, and the power, and the glory, forever.

Amen, in Jesus(nabi Isa) name I pray.

The Psalm 23
Inserted Video
  • #10,237
  • Edited 3:59am Sep 6, 2009 2:50am | Edited 3:59am
Quoting mystic
Hi Pete

Thanks.

Before I found this thread I'd spent weeks and weeks reading others. My starting account of $500 was going slowly down with trades being stopped out for more loss than I was profiting. I was doing the usual - trying the indicators and different methods, all the time thinking that my ideas of trading must be wrong since no one else uses just their own judgement. Also everyone seemed to want to have long running trades, while I loved the M1 and M5 charts.

I found this thread with my account down to $450,...
slowly.

Dance on.
Inserted Video
  • #10,238
  • Sep 6, 2009 9:53am Sep 6, 2009 9:53am
Quoting fti
Dear I AM

Our Father which art in heaven,
Hallowed be thy name.
Holy Holy Holy
Thy kingdom come.
Thy WILL be done in earth, as it is in heaven.

Give us this day our daily bread, Lord
Opens the eyes of traders here that they may learn.
And provide for themselves and for the needy.

And forgive us our sins, as we forgive our trespassers.
That as Jesus came to forgive our sins,
that we shall learn to forgive those that trespasses us by their sin for they knoweth not what they do.

And lead us not into temptation, by our scorpions
but deliver...
Amen
  • #10,239
  • Sep 6, 2009 2:22pm Sep 6, 2009 2:22pm
Quoting mystic
Hi Pete

Thanks.

Before I found this thread I'd spent weeks and weeks reading others. My starting account of $500 was going slowly down with trades being stopped out for more loss than I was profiting. I was doing the usual - trying the indicators and different methods, all the time thinking that my ideas of trading must be wrong since no one else uses just their own judgement. Also everyone seemed to want to have long running trades, while I loved the M1 and M5 charts.

I found this thread with my account down to $450,...
just be careful. rescues can easily mount up to a big loss, I hope you already noticed.
  • #10,240
  • Edited Sep 7, 2009 2:36am Sep 6, 2009 7:24pm | Edited Sep 7, 2009 2:36am
Quoting fti
Dear I AM

Our Father which art in heaven,
Hallowed be thy name.
Holy Holy Holy
Thy kingdom come.
Thy WILL be done in earth, as it is in heaven.

Give us this day our daily bread, Lord
Opens the eyes of traders here that they may learn.
And provide for themselves and for the needy.

And forgive us our sins, as we forgive our trespassers.
That as Jesus came to forgive our sins,
that we shall learn to forgive those that trespasses us by their sin for they knoweth not what they do.

And lead us not into temptation, by our scorpions
but deliver...
Gods kingdom, the theme of the bible.

Who is the creater of all the order and balance throughout the creation in the heavens which the hubble telescope shed a little more light for those scientist that believed in the big bang theory, which is like having a explosion in a print shop and having all the letters fall making a dictionary.
His name occurs in the Hebrew text and Greek Septuagint at least 6,828 times as YHWH or JHVH referred as the Tetragrammaton, with vowels Yehwah and Jehovah (Psalm 83:18).
What does the kingdom look like that we pray for? (Rev.21:3,4)
The paradise our first parents threw away as brought out in Gen.2:15-25.
A united loving brotherhood that transends nationalities, race.
Mankind brought back to perfection using a 100% of their mind.
Sickness and death will be no more, the resurrection of our dead loved ones as Jesus showed he could do as well as have control over the natural elements as he controled storms, also making sure everyone will have plenty to eat.
No fear of animals as "a little boy plays on the hole of a cobra".
The spirit of this air will be no more as satan and his demons will be no more as he is destroyed and the meek ones ( Psalm 37:11, 28,29)of mankind will live forever under gods kingdom or new government here on earth.
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