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Technical Analysis Fallacy

  • #10,681
  • Sep 24, 2009 7:05am Sep 24, 2009 7:05am
Quoting fti
Hi ALL.

Just wondered , how many withstood the "Balls of steel" test.
tell me.)

regards
So what is the "Balls of steel" test? I went in for a quick long (USD/JPY), foraged a little but didn't hang around. I assume I failed the test even though I felt it would retrace back to the top.
  • #10,682
  • Sep 24, 2009 9:41am Sep 24, 2009 9:41am
Quoting fti
Hi ALL.
FOMC range, was balls of steel testing.
unfortunately I was not there , due to other distractions.

Just wondered , how many withstood the "Balls of steel" test.
tell me.)

regards
I always trade FOMC and NFP and usually with small lot, but yesterday it was so predictable to so I doubled the lot, then doubled it again and made 4%, usually I make 0.2-0.5% a day.
Once FTI asked me personally, how am I doing.
I'm doing OK in my endeavor to decipher the market and the phenomenon of life as a whole.
The more I trade the more I believe, gut feeling is the main component of success in the market. Just like auxesis once said, just friggin trade. I believe it was him, and this is one of the best thing been said here.
  • #10,683
  • Sep 24, 2009 10:03am Sep 24, 2009 10:03am
Quoting alexfot
I always trade FOMC and NFP and usually with small lot, but yesterday it was so predictable to so I doubled the lot, then doubled it again and made 4%, usually I make 0.2-0.5% a day.
.

ur story reminds me , win the small battles few times and then go and be victorious in the major war

oh and dont forget ur own signature

good trade n good luck
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,684
  • Edited 11:40am Sep 24, 2009 10:32am | Edited 11:40am
Quoting maheswara
ur story reminds me , win the small battles few times and then go and be victorious in the major war

oh and dont forget ur own signature

good trade n good luck
Hi, mahesvara!
This is fti, who said that, I mean in signature, when he taught us art of war, and yes that was foraging on enemies supplies and then hit them big time.
  • #10,685
  • Edited 11:16am Sep 24, 2009 10:49am | Edited 11:16am
Quoting 1234
Thanks MaMood, you are right, the book is the main thing and it was a positive increase at the end of the day. In hindsight it is easy to see where one could have made a stronger attack but in the real battle it is better to take small profits and not be greedy.

Hope you are making pips with today's slower pace. Ray
Hi All,
) slower pace.)
I am laughing all the way to the bank, if only the bank was open at this hours.
beware usd bulls back in town, But dance my friend, don't be like deer in head lights, will you all.

happy hunting.

regards

and watch that yen girl carefully.
you are walking in CB territority.
seems many graves of sturborn donkeys around this zone.
even with G meeting , they just cannot get it thru their heads.
People just do not understand managed economies.
and a word about that. The heli guy sure is siting on his ass , and getting free rides. Hope no shit comes out of his mouth while he keep diluting the PPP of his baby.( acedemics will always remain that, worthless in the real world ) Whereas , just look at what Mr King had done, tresuryman par excellence. Good job , old chap. The man speeks little, walks around with big stick.
  • #10,686
  • Sep 24, 2009 11:03am Sep 24, 2009 11:03am
fti, it is great to have you back. Really missed you and hope you are going to hang around for a while. Had a good day today, and if tomorrow is good I can call it a good week. Hope everyone is trading well.

Alexfot, glad to hear that you are making good progress. Hang in there and keep working hard.

Trade well everyone, I am going to take a break. Back later.
  • #10,687
  • Sep 24, 2009 11:11am Sep 24, 2009 11:11am
Quoting GEfx
fti, it is great to have you back. Really missed you and hope you are going to hang around for a while. Had a good day today, and if tomorrow is good I can call it a good week. Hope everyone is trading well.

Alexfot, glad to hear that you are making good progress. Hang in there and keep working hard.

Trade well everyone, I am going to take a break. Back later.
Hey GEfx,
still have full plates, but making some precious time for them girls running amok. Will be around , on and off , just to touch base.

have a good one.

regards
  • #10,688
  • Sep 24, 2009 11:13am Sep 24, 2009 11:13am
hello sir good to see u !!
  • #10,689
  • Sep 24, 2009 1:07pm Sep 24, 2009 1:07pm
Quoting fti
regards

and watch that yen girl carefully.
you are walking in CB territority.
seems many graves of sturborn donkeys around this zone.
even with G meeting , they just cannot get it thru their heads.
People just do not understand managed economies.
and a word about that. The heli guy sure is siting on his ass , and getting free rides. Hope no shit comes out of his mouth while he keep diluting the PPP of his baby.( acedemics will always remain that, worthless in the real world ) Whereas , just look at what Mr King had done, tresuryman par excellence....
FTi good to see you...

i think i am years behind to understand this yet....


V
  • #10,690
  • Sep 24, 2009 11:57pm Sep 24, 2009 11:57pm
Hello friends. My second month of live trading is here... I have got 8,2% gain of all invested money. But have to ask you, how to solve some problems.
- I feel like Jonas in a whale. For the last 3days my internet connection had failed, i wasnt able to trade...
- I go slowly and pationly ahead, but dont know, when is time to do trading as my carrier. And i am becomming nervous... everybody tell me, that "What? You are here again with your 5dollars a day... You are joking...better, you should be a teacher or something..." Or: my father dont understand and tells me: "I earn about 1500USD/month... And you? Your 5USD a day?" And he is laughing...
I tell him for some time..... and he doesnt believe and doesnt want to listen... he is a teacher like my mother...more...she is unfortunelly a headmaster....in a village school...
- Please, if you can advise me. i very appreciate it.
Thank you very much and good trading for everyone. Fana

and that trading from pizzeria, where i do a delivery boy now(because hating of teaching...), it is really difficult... Somebody shouts: here is a delivery, go! Yes, yes... just a a ... minute... ouch...

...So i only need to know... what should be my next step in trading carrier...
  • #10,691
  • Sep 25, 2009 9:11am Sep 25, 2009 9:11am
Quoting Fana
Hello friends. My second month of live trading is here... I have got 8,2% gain of all invested money.
...So i only need to know... what should be my next step in trading carrier...
8.2 is an amazing gain , try to sustain such level for few more months ...
and always follow ur heart ...

good weekend to all


ps:
mrs. grizzly greenback bear showing her claw...
To Live is the rarest thing in the world , Most people exist , that is all
  • #10,692
  • Sep 26, 2009 10:22am Sep 26, 2009 10:22am
Quoting Fana
Hello friends. My second month of live trading is here... I have got 8,2% gain of all invested money. But have to ask you, how to solve some problems.
- I feel like Jonas in a whale. For the last 3days my internet connection had failed, i wasnt able to trade...
- I go slowly and pationly ahead, but dont know, when is time to do trading as my carrier. And i am becomming nervous... everybody tell me, that "What? You are here again with your 5dollars a day... You are joking...better, you should be a teacher or something..." Or: my father dont...
Hi Fana,
Sounds like you are a little frustrated now. fti has given you a roadmap of what you should do. Think of your current situation in terms of trading. It sounds like your current trading skills are coming along but maybe your trading account is not funded yet. So your career is like a scout trade, you have committed it and are watching it progress for signs of what to do next. You have not really made enough progress to start adding to your position (go full time) nor have you fallen back in any serious way so no need to start thinking about how to rescue your career. You need to be patient, because sometimes it takes many months/years to become a full time trader. As a trader, your first obligation is to be a good steward of your money, so take care of that first by working hard at whatever your non-trading job is, and when you have the time and opportunity, trade. Take a deep breath, relax, and do not let your emotions influence your trading or the development of your career. You might see the +8% turn into a -8%. Have a good weekend.
  • #10,693
  • Edited 12:10pm Sep 26, 2009 11:41am | Edited 12:10pm
Maheswara,GEfx, Thank you. Yes, my account is 1500USD. And maximum size possition i trade is 10000units. I intend to go ahead for next 3month, as i consider it due to your advises. The very next question for me is, how much to fund to try trading as carrierr(only tradeing for obtaining money)... Because when i go full, i have to have bigger account, so i have to consider how big.... 5000USD? Or maybe less? I am going to start 1.1.2010 my full carrier. That is my plan.

I have to reveal, i have fantastic girlfriend,who is my biggist supporter. She gives me punishments for my mistakes. Everytime,when i do mistake, i tell her, what happened. And she gives me the punishment... And it really works:-)
  • #10,694
  • Sep 26, 2009 12:27pm Sep 26, 2009 12:27pm
Hi lilpip
avatar for you, OK?
Attached Image
  • #10,695
  • Sep 26, 2009 3:47pm Sep 26, 2009 3:47pm
Hey Gro I havnt seen it as Im trying to open and Im getting drawing failed.
My computer for some reason today is givng me problems.
However, what ever you draw as in your past drawings Im sure it is going to look just great.
This is the first time back since I ask for the drawing, In between some task at hand Im going to try to pull up the drawing and catch up on some reading.
Thanks a great deal for your effort, I cant wait to see the drawing.
  • #10,696
  • Sep 26, 2009 4:25pm Sep 26, 2009 4:25pm
alexfot,I cant seem to pull it up.
So what do ya think, did Gro paint another beautiful thing ?
  • #10,697
  • Edited 4:59pm Sep 26, 2009 4:48pm | Edited 4:59pm
converted from bmp file to jpeg

and the answer is Yes, good job, GRO!
Attached Image
  • #10,698
  • Sep 26, 2009 4:58pm Sep 26, 2009 4:58pm
Fana,

To be a trader is a mindset, be it little or a lot. Wants have to be balanced with honest fact, and the ability to sustain oneself... while the present situation is not what is wished for, if you want it bad enough, you will find the way.

It was never written that it is easy.

Remember the lessons of the ant's work, it applies to other things in life besides trading. Start where you can, work to pay your bills at the same time honing your skills, remember FTI said once that it took him about 2 years to turn out a trader and then another 2 years for them to really become proficient. That's under ideal circumstances with him teaching them side by side.

Save money to put into your account, compound interest over time will grow the account, if it is with in you.

I want it now, can be a dangerous mindset, so work for it, earn it, and it will be yours forever. Just remember to balance one's life, as trading is just a part.

regards,
  • #10,699
  • Sep 26, 2009 11:05pm Sep 26, 2009 11:05pm
Quoting auxesis
converted from bmp file to jpeg

and the answer is Yes, good job, GRO!
Cool, let the battle begin.
  • #10,700
  • Sep 26, 2009 11:54pm Sep 26, 2009 11:54pm
Quoting Gro
Hi lilpip
avatar for you, OK?
Anyone, Is there a easy way to explain how to apply avatar ?
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