Technical Analysis Fallacy

I do not know about you,
but I will take an even more carefull trading bias.
Anything is possible
when we have
a delusional narcisistic with personality disorder
in charge of USA.
Now more than ever
I will be very nimble with my trading.
Regards to all.

Edit: What I mean? Take a look at the 15M
you will see shadows dropping al the way to 1.3929
without any connection to anything
and unexpected 15M reversals,
and confusing economical bad news,
and political confusion on Washington.
What shall we do?
I guess we stick to the chart
and
it seems to say to me:
"trade if you want
but
do not overexposure yourself.
Watch out with rescues,
flip if you must
but
do not become a pig,
stick to Tokyo
until this air is clear
if this is the case."

edit: yes, a dollar bull is on going
but watch out around 1.3925.
Me?
I plan to stay out until
Sunday evening.
Then I will see.
Good luck
to everyone.

watching 3 kingdoms and a eye on a/u 8895

I do not trade G/U but just before I am dragged by my wife to watch a movie I checked it.
See 1H...is G/U bouncing back at 1.61 ?
that is something to consider.
Good luck

i just lost my whole capital in the EUR/JPY market today i really don't know what to do now i'm so confused....

Happy Tokyo to everyone. Looks like there is some early action in the markets. I am looking for reasons to short the E/$ and (especially) the E/J. Will keep an eye on the GBP/$ but the action right now is with the euro. Stay focused and be careful.
Edit: Looing at the AUD/$, too.

looking at the e/u to start the day, 3903 area is of extra interest.

I am sorry to hear about your loss today. There are more than a few members here that would be happy to help you, can you give some more details as to what transpired? Normally this kind of thing happens when someone is overexposed/undercapitalized, trading against the trend, or a combination of both.

Regards

Sorry to hear about your loss. Perhaps you could post something to explain what you saw in the market at the time you took the trade. I recommend trading with a demo account until you are better prepared to trade.

Originally Posted by acim http://cdn.forexfactory.com/images/buttons/viewpost.gif

I would appreciate anyone's critique of my dance. (both MO and MM). There were no lines on my hourly chart when I was dancing ..... there for explanation :-)

Thanks Piccolo for your input. In my original post #13200 I noted on hourly chart "support" zone and mentioned that I would most likely cut my position (based on PA). We will see when I do encounter that situation which scorpions on my back will show up http://cdn.forexfactory.com/images/icons/icon5.gif :-)

May pips be with you :-D

Hello Ykpuffy07

Everything is OK. The whole proccess of learning is normally 1,5 - 3 years.
First you probably will lose some money. It is hard work and sometimes you will think, that you are there...
Slow down and work. This is only way to be succesfull.

First, read the thread or "The Manual"

Find this...
" A man found a cocoon of an emperor moth.
He took it home so that he could watch the moth come out of the cocoon.
On the day a small opening appeared, he sat and watched
the moth for several hours as the moth struggled to force
the body through that little hole. "


Start practise demo, it helps you to develop required skills.


Dont blame yourself about the loss. Thats NORMAL for the beggining.
Look ahead not only to obtain money back, but for education. Such money from trading are very very hard to earn. You could accept this fact. You are not here like a lucky man which beats the market for the first time...This is not a roulette. Your opponent here is the whole professionall world. Learn. It is worth it.

... Why do you care about some sentiment voting? My personall oppinion is, that you want it to be like that, go into market in the direction you wish.... but this is false, crazy, i did it also many times...

Or you can have the direction, but dont choose the right timeframe....
So H1 is for example long.... You go long when you see it, but unfortunatelly exactly at this moment you get in.... reverse.... And you close it at the moment when it is down... And after you have it closed...what?.... Up,up,up...

Somewhere i have heard... "You can have 3 things in bussiness - PROBLEMS, EXCUSES, MONEY. What do you want? Money? So why do you still deal with problems and excuses?"

So, lets go to work:-)

I just looked at the e/y market and there is nothing out of the ordinary. So the problem must be you.

All I can say is- learn from it. Take a 2 week vacation. Maybe try the trading strategies on demo first.

thats cold you must be in the uk!!

I have made a picture about my process of learning forex....but dont know exactly where i am now...

Hi lilpip,
What's going on, may be reversal? moved from 3926 to 3975 now may be 4000? or may be not?

Anyway I shorted at 3970, See how?

cheers,

Morning lads
shorted e$ at 1.39744 looking for a quick action.
Bernanke survived - anyone surprised?
Stay sharp, charts are still very choppy.

Some good news from EU today. I turn to Eur long for now...

Hi Setebos,
Very slow friday I quited EU with 1 pip gain.

Cheers,

Considering the week we had - slow is actually good Less is more.

Ducks on 1,3950?

The level felt strong enough (look at 1H) for the correction to end and the trend to resume. So there went my scout. Possible rescue was scheduled for 1.40. Just deployed level 2 attack at 3955. There's a lot of stop-hunting today.
Good thing EU news were neutral - The Force remained strong with the dollar.