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Technical Analysis Fallacy

  • #11,401
  • Dec 4, 2009 10:11am Dec 4, 2009 10:11am
Quoting pete.alfa
Hi Shah,

I read this thread up to 200 pages almost 3 times(some parts 4-5times) there are some hiding value in there.

Like Maheswara said
[color=Red]theres a thin line between averaging losers and rescuing, it looks and sounds similar ,
the line is the 1000+ hours screen time ...
with the experience , u ll know instantly which are losers and which are not,

[color=Black]So please work hard to be one in 5% whom successed & 95% are the losser. Few yrs back I've never heard of Price Action I only knew TA so I thought...
Very well said. I also have to thank fti and all traders here. This thread is unique, develop many abillities which are very usefull (not only in trading...)... And when somebody have a need to recomend and comment and... I really dont know why... Because i am in my ferari, when he is arriving by a droshky
  • #11,402
  • Dec 4, 2009 11:40am Dec 4, 2009 11:40am
Quoting Fana
And when somebody have a need to recomend and comment and... I really dont know why... Because i am in my ferari, when he is arriving by a droshky
why?? the guy is trying to help maybe litlle showing of his skills (??) i think in many FF. threads it's normal to comment without reading the basics of the thread. i am just happy this is not a thread like that.

i can relate to the ferari anology.... with the sidenote that i don't even have a car yet. for some time now i am of my litlle real money acoount and demo again. i try ferari, rangerover, F1, prius, dragster...

Inserted Video


don't forget your safetybelt MM
even with my eyes open i cannot see everything
  • #11,403
  • Dec 4, 2009 1:35pm Dec 4, 2009 1:35pm
OK, I stopped trading about 2 hours ago and the market is still moving. A great day trading and many thanks to US NFP. I was short the CAD about 30 minutes before employment data in Canada (1 1/2 hours ahead of US data), and then traded the GBP and EUR for the rest of the day after NFP. Looking forward to some follow through next week. Have a good weekend everyone.

RE: shahzadhyder, I am not sure what the heck you are talking about, but this thread is not a good place to talk about gambling. We are focused on trading forex PA (read the first 200 pages or so of this thread) and helping each other become the best possible trader. We rally around one of the most generous and decent people on the Internet, fti, and when he is not present, we rally around each other. Please feel free to join us, but any attempt to move the discission away from PA trading is not appreciated, and will not be helpful to the newer traders here. Please understand.

EDIT: Looking forward to having fti back sometime. I miss him.
  • #11,404
  • Dec 4, 2009 1:35pm Dec 4, 2009 1:35pm
Hello J-Pax, yes, you are also true. My opinion is, that when i want to have good discipline and psychology, i shouldnt allow thoughts like "martingale is key, it is not the key... come and watch this,that... ". For me, good is to say.. Yes, thank you, and it is enough. Maybe he is profitable and maybe he has hundreds percents per day... But why does he tell, that he has 80% wins and why does he want another to wanch his thread and say what is good?
Frankly, not my cup of tea...
  • #11,405
  • Dec 4, 2009 1:59pm Dec 4, 2009 1:59pm
Quoting Fana
Hello J-Pax, yes, you are also true. My opinion is, that when i want to have good discipline and psychology, i shouldnt allow thoughts like "martingale is key, it is not the key... come and watch this,that... ". For me, good is to say.. Yes, thank you, and it is enough. Maybe he is profitable and maybe he has hundreds percents per day... But why does he tell, that he has 80% wins and why does he want another to wanch his thread and say what is good?
Frankly, not my cup of tea...
Fana, completely agree with you. Stay focused on what we know works and grow from there. BTW, congrat.s on your new flat.
  • #11,406
  • Dec 4, 2009 2:05pm Dec 4, 2009 2:05pm
Quoting GEfx
Fana, completely agree with you. Stay focused on what we know works and grow from there. BTW, congrat.s on your new flat.
GEfx. Thank you.
  • #11,407
  • Dec 4, 2009 5:09pm Dec 4, 2009 5:09pm
I just came back from work after a great day and I found the current discussion.

Some thoughts:

I think that:

1. We do not do Martin...whatever...That is a very mechanical M.O. that we believed -and it has been scientifically proven- will destroy the trader.

2. We do not do TA the way that other people do it....that means that we do not trade in terms of this line crossing that line, overbought/oversold, S/R or even fibo price levels. It does not mean that we do not seee them, but that we choose to go with the flow and with a qualitative understanding of the general flow of the market. Market music, dance, you name it.

3. We do not gamble but actively play the position as per our own feelings, capabilities and understanding. With the belief that our trading mindset most be preserved and nurtured carefully.

4. We do not do PA as it is done by others: Japaneese candles. We are ready to go in a particular direction as per our feeling of the market. I mean PA momentum is key as well as gut feeling built on trading experience.

Some other people might want to add to this list....

Me? I am darn happy of the bull. The daily trend and the compression of the 1H waves gave me clear warnings of the Euro fall. Maybe it was luck. It seems that are entering a major 1D range of a temporary Euro weakeness. Good luck to all.
Empty as water and soft as a facing wind mountain
  • #11,408
  • Dec 4, 2009 6:37pm Dec 4, 2009 6:37pm
Quoting aiyahmarklah
shahzadhyder, I guess you are referring to my online profile where it states my preferred strategy "martingale". Did not expect anybody to take it seriously. I do use some form of progressive or anti progressive strategy, depends on my mood or market risk profile. Other than that all I can say is as a community, FF and this thread has helped me much and I am enjoying the money, after being mind f***ed by the market for 3 yrs.

Apart from myself, unfortunately what is being presented in this thread is not straight forward with step by step instructions....
Fine, I think you totally missed my concept or you are a kind of person who is happy to live in the world of fantasy or you are a dreamer and I even will not waist my time to go further on this topic but I know you will remember me when one fine day you will find yourself in trouble using this martingale deadly style of trading which is only a gambling. Remember knowledge is power. Just a few words more and i am gonna finsh my so called fruitless comments. You will go on winning with this martingale system as long as the market will move in consolidation i mean in certain parameters (between 100, 200, 300, 400, or 500 points maximum) but you will lose all when it will become trendy and will just go on one direction and never to comeback or will comeback when you will find yourself in hot water losing all money. Once GBP/USD was on approx.2.10 hardly a year ago but then dramatically this came down to something 1.35 level and I do not understand How this martingale system will work on this situation.
So good luck in your trading and will not waist your time anymore.
  • #11,409
  • Dec 4, 2009 6:48pm Dec 4, 2009 6:48pm
Quoting shahzadhyder
Fine, I think you totally missed my concept or you are a kind of person who is happy to live in the world of fantasy or you are a dreamer and I even will not waist my time to go further on this topic but I know you will remember me when one fine day you will find yourself in trouble using this martingale deadly style of trading which is only a gambling. Remember knowledge is...
What you fail to realize that all this has been covered in the thread if you would take the time to read it. Not all positions are recoverable, part of the process in learning this methodology is knowing the difference, when and how.

regards
  • #11,410
  • Dec 4, 2009 7:03pm Dec 4, 2009 7:03pm
Quoting luSan
I just came back from work after a great day and I found the current discussion.

Some thoughts:

I think that:

1. We do not do Martin...whatever...That is a very mechanical M.O. that we believed -and it has been scientifically proven- will destroy the trader.

2. We do not do TA the way that other people do it....that means that we do not trade in terms of this line crossing that line, overbought/oversold, S/R or even fibo price levels. It does not mean that we do not seee them, but that we choose to go with the flow and with a qualitative...
Very well said I always admire your comment and all seniors Maheswara,Auxesis,GEfx Zoran,Aiyahmarklah & many others.........
  • #11,411
  • Dec 4, 2009 7:11pm Dec 4, 2009 7:11pm
Quoting pete.alfa
Very well said I always admire your comment and all seniors Maheswara,Auxesis,GEfx Zoran,Aiyahmarklah & many others.........
Good luck
and be nimble.
Empty as water and soft as a facing wind mountain
  • #11,412
  • Edited 7:36pm Dec 4, 2009 7:14pm | Edited 7:36pm
[quote=shahzadhyder;3283442] I even will not waist my time to go further on this topic

Hi Shah,

Please do so and I'm very happy for you not to waste your time. ppl are diffrent mind set nobody rite or wrong if this thread is not suitable for you - another thread might.

regards,
  • #11,413
  • Dec 4, 2009 7:49pm Dec 4, 2009 7:49pm
Quoting j-pax
why?? the guy is trying to help maybe litlle showing of his skills (??) i think in many FF. threads it's normal to comment without reading the basics of the thread. i am just happy this is not a thread like that.

i can relate to the ferari anology.... with the sidenote that i don't even have a car yet. for some time now i am of my litlle real money acoount and demo again. i try ferari, rangerover, F1, prius, dragster...

http://www.youtube.com/watch?v=X_XkBv_zt1w

don't forget your safetybelt MM
Hi how r U? Pax

I visited your journal recently. I still keep up with mine.
How r u doing with Piano & Accordeon?
during X's mas time I'll unpack my 2 guitar cases & practice again for about a month bcos market is going be quiet so good time to take a break. it's very hard - working full time & trading.

rite now there 2 musicians here (me & pax) are there any more in this thread? so we might have a bit of chat....

Good luck with your trade.
  • #11,414
  • Dec 4, 2009 8:19pm Dec 4, 2009 8:19pm
Quoting pete.alfa
Hi how r U? Pax

I visited your journal recently. I still keep up with mine.
How r u doing with Piano & Accordeon?
during X's mas time I'll unpack my 2 guitar cases & practice again for about a month bcos market is going be quiet so good time to take a break. it's very hard - working full time & trading.

rite now there 2 musicians here (me & pax) are there any more in this thread? so we might have a bit of chat....

Good luck with your trade.
I play guitar too, use to play for hours in high school but hardly play now.
  • #11,415
  • Dec 5, 2009 12:57am Dec 5, 2009 12:57am
Quoting pete.alfa
Hi how r U? Pax

I visited your journal recently. I still keep up with mine.
How r u doing with Piano & Accordeon?
during X's mas time I'll unpack my 2 guitar cases & practice again for about a month bcos market is going be quiet so good time to take a break. it's very hard - working full time & trading.

rite now there 2 musicians here (me & pax) are there any more in this thread? so we might have a bit of chat....

Good luck with your trade.
Yes - guitar and violins..I had music group, but now i have a rest because of trading... Happy weekend to all :-)
  • #11,416
  • Dec 5, 2009 7:33am Dec 5, 2009 7:33am
[quote=maheswara;3275716]
theres a thin line between averaging losers and rescuing, it looks and sounds similar ,
the line is the 1000+ hours screen time ...
with the experience , u ll know instantly which are losers and which are not,

quote of the week by mahes, along with mamoods research paper that he found stating why the brain needs the training time of repetition.

Only after the hours we are equipped to make it an art.
  • #11,417
  • Edited 10:35am Dec 5, 2009 7:57am | Edited 10:35am
missed fridays move with the e/u as I take a look Im trying to figure out what shes trying to tell me.
Looking for direction watching 4875 area with an eye on 4766 area and how she responds if we get there.
  • #11,418
  • Edited 8:55am Dec 5, 2009 8:19am | Edited 8:55am
There are many countries telling the U.S. they want to stop using U.S dollars and suggesting a gobal currency and the U.S. administration stating that is acceptable to them, couple that with the U.S. debt and there continued spending I have to believe the dollar will get weaker.

Recognizing that fact we want start a national directory advertising the business's that are willing to except gold or silver as payment.

I need some feed back on what we are trying to accomplish, be it good, bad, improvements whatever.

If you go to barter4silver.com check it out, while there click on articles and give me some feedback.
  • #11,419
  • Dec 5, 2009 12:58pm Dec 5, 2009 12:58pm
Quoting shahzadhyder
Fine, I think you totally missed my concept or you are a kind of person who is happy to live in the world of fantasy or you are a dreamer and I even will not waist my time to go further on this topic but I know you will remember me when one fine day you will find yourself in trouble using this martingale deadly style of trading which is only a gambling. Remember knowledge is...
Hey, don't flatter yourself. BYE
  • #11,420
  • Dec 5, 2009 2:12pm Dec 5, 2009 2:12pm
Quoting fti
Hi ALL,
I had typed out the exploration sessions up to friday , then going for my vacation.
But since the markets are so letargic. Heres something to chew on.

A lesson in habit training & stupidity.
The Wild and Free Pigs of the Okefenokee Swamp
by Steve Washam based on a telling by George Gordon
---------------------------------------------------------------------

Some years ago, about 1900, an old trapper from North Dakota hitched up some horses to his Studebaker wagon, packed a few possessions, especially his traps--and drove south.

Several...
Hey guys...a little late to the party...but in this case I think it is better late that not show up! I hope to become a active member on this thread as I highly value FTI's teachings.

My background: I have been trading forex on/off for about 4 years. Just recently joined FF as a member and hope to become a contributor on this thread.

This story really resonated with me as one of my scorpions is take have this contrarion mindset of overbought/oversold. It immediately brought up memory of Thanksgiving day 2009 where I was buying the USD/Yen on the dips at oversold levels and taking small profits.

I was in retrospect, picking pennies in front of a steamroller as i established a fresh long position only to see the market keep falling away. As some of you may know, that was a particularly volatile day for the usd/Yen but after a very nerve wrecking rescue session I was able to come back out at breakeven....however, i had to "fight tooth and nail just to get there"

I hope to learn more, specifically the attack skews and strategy in the coming days.

Cheers
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