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Technical Analysis Fallacy

  • #11,521
  • Dec 11, 2009 9:03am Dec 11, 2009 9:03am
market a little too easy? retracements were clear , signs were clear...
didnt expect it for a Friday on December...

hope all making money, quite sure fti sir is making ton if hes trading

I was actually playing both short n long n had no real prob...
To Live is the rarest thing in the world , Most people exist , that is all
  • #11,522
  • Dec 11, 2009 9:10am Dec 11, 2009 9:10am
Means no respect but....

I do not see you guys talk much about how u enter or when u enter a trade...
All I see is words...

Picture says a thousand words??

Sonic
  • #11,523
  • Dec 11, 2009 9:19am Dec 11, 2009 9:19am
@sonicdj

dont think my pic worth 1000 words , 2 words maybe --> "messed up"

lotsa scaling ...
Attached Image (click to enlarge)
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To Live is the rarest thing in the world , Most people exist , that is all
  • #11,524
  • Dec 11, 2009 9:22am Dec 11, 2009 9:22am
Quoting sonicdeejay
Means no respect but....

I do not see you guys talk much about how u enter or when u enter a trade...
All I see is words...

Picture says a thousand words??

Sonic
You will want to check the newer thread titled TAF BAsed Trade Discussion (I think) for pictures and charts. That one was opened several months ago to accomodate discussion on specific trades, what went right, what went wrong, etc. Hope that helps. Best wishes to you.
  • #11,525
  • Dec 11, 2009 9:23am Dec 11, 2009 9:23am
Quoting sonicdeejay
Means no respect but....

I do not see you guys talk much about how u enter or when u enter a trade...
All I see is words...

Picture says a thousand words??

Sonic
If you don't like it here, feel free to exile yourself.


Hi all,
Was monitoring the market, thru MBT MT4 charts.
OMG, if I traded theu their pricing , I would betrading blind.
Talk about bad brokers, all that hype about, professional broking , and with the marbles to ask for bro.
I don't like brokers that is all talk, no delivery.
I spit spit spit spit on you MBT.

So that you chaps know who cannot be trusted.

regards
  • #11,526
  • Dec 11, 2009 9:26am Dec 11, 2009 9:26am
Quoting maheswara
@sonicdj

dont think my pic worth 1000 words , 2 words maybe --> "messed up"

lotsa scaling ...
LOL nice man
  • #11,527
  • Dec 11, 2009 9:30am Dec 11, 2009 9:30am
Hi fti, hope you are well. Again, sorry to hear about your friend. You Okay?
  • #11,528
  • Dec 11, 2009 9:31am Dec 11, 2009 9:31am
Quoting fti
If you don't like it here, feel free to exile yourself.


Hi all,
Was monitoring the market, thru MBT MT4 charts.
OMG, if I traded theu their pricing , I would betrading blind.
Talk about bad brokers, all that hype about, professional broking , and with the marbles to ask for bro.
I don't like brokers that is all talk, no delivery.
I spit spit spit spit on you MBT.

So that you chaps know who cannot be trusted.

regards
Hi sir, how are you, good ?

I've been using mbt for a few years already, never touched their mt4 though. So sad to hear your bad experience with them, was rather happy when they cut commish recently. Despite that I m using them much lesser, lousy fills, espcially with larger orders, weird.....
  • #11,529
  • Dec 11, 2009 9:37am Dec 11, 2009 9:37am
Quoting GEfx
Hi fti, hope you are well. Again, sorry to hear about your friend. You Okay?
Hi GEfx, as good as can be

was thinking of monitoring the markets thru MBT MT$.
They tried to make such a point about being professionals, but instead got me blind to markets price. So so disappointed

and the ITFX MT4 charts I recommended in the thread, seems some bodys got to them. They joined the Shame list.

so is for GFT , IG.

Seems I cannot find any reliable retail brokerage . May need go back to spots , or futures.
this OTC thingy , just seems not working. All talk , no delivery. Maybe the Authorities , shouls see that they mean what they hype about. The IG chap says, 1 pip, then they show 3 mostly, When asked they say , oh, its FROM 1 pip.

If only the true retail brokers will show up to send all the scams to the jailhouse.

Maybe someday.

regards
  • #11,530
  • Edited 9:58am Dec 11, 2009 9:48am | Edited 9:58am
Quoting fti

Maybe someday.

regards

ai sir, u might wanna check dukascopy , hrd they are the real thing... they are swiss based though...

also,
good weekend to all , good trade
To Live is the rarest thing in the world , Most people exist , that is all
  • #11,531
  • Dec 11, 2009 9:55am Dec 11, 2009 9:55am
Quoting aiyahmarklah
Hi sir, how are you, good ?

I've been using mbt for a few years already, never touched their mt4 though. So sad to hear your bad experience with them, was rather happy when they cut commish recently. Despite that I m using them much lesser, lousy fills, espcially with larger orders, weird.....
Hi mark,

Still in experimental mode, for retail forex. Have many things happening, some good, some bad.

trade wise, got to get on the ball. Probably jan, if this world doesn't do the 2012 thingy. Book had been dormant mostly since the last quarter due to a project

for otc brokers , maybe 2 more trials, Citi fx pro and oanda.
every body else I tried bit the dust, in so far as being genuine and professional. Anyway no rush. Also thinking about the true ECNs, but they, down right snobbish in terms of ticket size. Maybe if they get more hungry.

Some people emailed me about brokers, regret notthing nice to report so far.

hope you hunting well.

regards.
  • #11,532
  • Dec 11, 2009 9:57am Dec 11, 2009 9:57am
Quoting maheswara
ai sir, u might wanna check dukascopy , hrd they are the real thing... they are swiss based though...
Hi Mahes,

I see you doing good, keep up.

Nope , dukascopy's bro is too X. Not worth the trouble.

regards.
  • #11,533
  • Dec 11, 2009 10:12am Dec 11, 2009 10:12am
Quoting fti
Hi mark,

Still in experimental mode, for retail forex. Have many things happening, some good, some bad.

trade wise, got to get on the ball. Probably jan, if this world doesn't do the 2012 thingy. Book had been dormant...
I doing fine chief thanks.

Right now a lot of my $$ in in oanda sg. I've checked out phililps while in town recently, they use currenex feed, there heavy advertising got me curious again, but terrible commish and salesman dont know what he is talking about. Too bad. Oanda is really unbeatable in terms of cost.

I see you are not ready to give up retail brokers yet ? All the best. hope something good come soon.

regards.


Oh btw, Ong First also offer fx trading, not fantastic commish however is waived if can hit certain volume, you can try them ? Don't wish to do broker shopping anymore too tiring...
  • #11,534
  • Dec 11, 2009 10:32am Dec 11, 2009 10:32am
Quoting aiyahmarklah
I doing fine chief thanks.

Right now a lot of my $$ in in oanda sg. I've checked out phililps while in town recently, they use currenex feed, there heavy advertising got me curious again, but terrible commish and salesman dont know what he is talking about. Too bad. Oanda is really unbeatable in terms of cost.

I see you are not ready to give up retail brokers yet ? All the best. hope something good come soon.

regards.


Oh btw, Ong First also offer fx trading, not fantastic commish however is waived if can hit certain volume, you...
Hi mark,

problem with oanda as i understand is alot of hidden fees. How would you like to be charged fees for depos with them?

POEMs of phillips, you are kidding right?
Ong 1 is stock broker la, forex is alien
As far as my research went, non , not one Sg bro is in the leagues. Sorry.

regards
  • #11,535
  • Dec 11, 2009 10:51am Dec 11, 2009 10:51am
Quoting fti
Hi mark,

problem with oanda as i understand is alot of hidden fees. How would you like to be charged fees for depos with them?

POEMs of phillips, you are kidding right?
Ong 1 is stock broker la, forex is alien
As far as my research went, non , not one Sg bro is in the leagues. Sorry.

regards
Ha like no choice lor.

POEMS launched a not so new fx platform, using currenex, but the fees charged are higher than futures....they sure die if they only sell fx.
  • #11,536
  • Dec 11, 2009 12:09pm Dec 11, 2009 12:09pm
Hello fti. I still cant recover from looses. I have a feeling, that i am still on the same place... no big looses, no gain... Please, can you recomend me what to do...? I still make mistakes...it is problem of my head...Cant be disciplined...
Question is... more funds? I cant bear my undercapitalize, or try to be profitable wit what i have?
I also think, that i have a little mess, what to trade. Everything is ok, until my emotions navigate me back..... I give up, and make mistakes like totaly fool...After i look back and see: this,this,this...why i did it, when it is compleetely out of my rules and...
  • #11,537
  • Dec 11, 2009 12:25pm Dec 11, 2009 12:25pm
Fana,
I don't mean to jump in front of fti here, but you might want to trade using a demo account until you get a handle on your problem. Is your problem mental, technical, or something else? Not sure anyone can give you advice on what to do next, unless you can articulate a clear explaination of your problem.

If you don't know what the problem is, then your problem is you don't know your problem. Might want to stop trading until you can get a handle on this. BYW, a problem is not that you are loosing money. Its that you can't figure out the trend, you can't see significant price levels that you should be aware of, or you fail to enter trades at the right time because you a afraid, or you get into trades after they have moved, etc.

A personal observation is that you are not working hard enough, and perhaps have not been working hard enough for long enough. Have you put in several thousand hours of study, back testing and forward testing your education? Have you analyzed your mental state and read up on how to fix those problems? Can you articulate your trading strategy, and are you keeping records on how you are executing your strategy? Just a few things to think about before you start wondering if this is right for you.
  • #11,538
  • Dec 11, 2009 1:30pm Dec 11, 2009 1:30pm
Quoting GEfx
Fana,
I don't mean to jump in front of fti here, but you might want to trade using a demo account until you get a handle on your problem. Is your problem mental, technical, or something else? Not sure anyone can give you advice on what to do next, unless you can articulate a clear explaination of your problem.

If you don't know what the problem is, then your problem is you don't know your problem. Might want to stop trading until you can get a handle on this. BYW, a problem is not that you are loosing money. Its that you can't figure out the...
GEfx : Very helpfull! Thank you. I am going to demo again. What i recently do is really a mess. Regards. Fana Snejdar
  • #11,539
  • Dec 11, 2009 3:49pm Dec 11, 2009 3:49pm
Hi fti,

you may try DBfx from Deutsche Bank (www.dbfx.com).
I'm using their datafeed but have trading experience with them.
Seems to be very reliable
They offer leverage up to 100:1.

Hopefully theyare professionel enough to meet your requirements.

Best regards,
MaMood
  • #11,540
  • Dec 11, 2009 4:20pm Dec 11, 2009 4:20pm
Quoting Fana
Hello fti. I still cant recover from looses. I have a feeling, that i am still on the same place... no big looses, no gain... Please, can you recomend me what to do...? I still make mistakes...it is problem of my head...Cant be disciplined...
Question is... more funds? I cant bear my undercapitalize, or try to be profitable wit what i have?
I also think, that i have a little mess, what to trade. Everything is ok, until my emotions navigate me back..... I give up, and make mistakes like totaly fool...After i look back and see: this,this,this...why...

Fana,
Trading is all about emotions. Remember the very first post from FTI where he gave a recipe for trading, one of the main ingredients is YOU.

One of the hardest obstacles to overcome in this game is our emotions and is the reason why most seek to find a system that takes away the aspect of decisions and emotions. You have to retrain your brain to over ride your emotions in certain circumstances. Everyone looks at a chart, and if you have had any experience, everyone mostly sees the same thing. Without knowing it, we condition ourselves to see something in the chart which leads to an expectation of a specific movement, for the most part the herd (majority of traders) sees something in common on the chart and they move, or better said react, in a herd mentality, MOST LOSE in this using this mentality. Think about that for a moment, if they are acting in unison, why do they lose over the course of the long run?

When we make a decision to enter a trade, it is natural that we seek signals to confirm our decisions, often times we mistake the signals the market gives us when we have these colored or biased glasses on, when it’s telling us we are wrong we see it as possibilities of being right, does this ring a bell? Usually afterwards we then see the truth, oh but too late………………

What you have to do is to train yourself to disconnect emotionally from the chart, in doing so you can see the chart clearly and anticipate the stampede, taking the advantage when they panic or when they feed on themselves, much like today’s price action.

The market is great at setting traps, and often when things look the best is when they backfire, on the other side of the coin, when the market is at its extremes often times lay the best trades. When you look at the chart rationally without bias these opportunities will show themselves, then you have to teach yourself to be patient and let the trap spring.

Demoing is great….. do it till you are profitable, and then ask yourself what’s the difference between the two, if you can trade profitably demoing and not using real money?

Don't think that it's easy, we all have our scorpions ( I know I do) and are always making sure they are in check, but you have to identify them, to control them.

fwiw
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