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Technical Analysis Fallacy

  • #14,141
  • Apr 1, 2010 2:59am Apr 1, 2010 2:59am
Quoting dongsky
Hi fana,

like you i'm also a newbee with this method, i'm still keep on practicing my dancing, one step at a time....
Hi dongsky
Yes and no. Slow down friend. Long way is ahead... Only 5trades? You have to absorb all together from the thread. Because it works together!
Important parts and components...
You maybe will be attempting to use it in many ways... and thing about it that "it is this..."....
Practise, practise, practise....
Dont be much excited, that you had some +trades. Only when you did it right, you can say OK. You also can have +trades, but without the right MM for example........
You recognize it after months, that sometimes as a newbie you was only lucky...And you will be more lucky when you will know..."I did it right despite i am in red numbers...."
Happy trading
  • #14,142
  • Apr 1, 2010 3:11am Apr 1, 2010 3:11am
Quoting dongsky
thanks maheswara, i'll keep my eyes on that news. a quick question, are you trading the news? if so, can you share to us how you tackle it? any strategy? can we still use fti's method?

just wondering my friend. cheers.
hey , not really , i just keep an eye on the FF red news and when it is happening and then I mark it in my chart time with a vertical line ...

I would usually reduce positions few mins before the vertical line , and adopt a defensive strat ... nothing major ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,143
  • Edited 3:47am Apr 1, 2010 3:36am | Edited 3:47am
when you look at your performance please look back at least for a month. anything less is an ego trip. is your equity rising steadily or is it a zigzag?

it is very important to look at the drawdowns even when you manage to rescue the trade and end at breakeven or profit. this is where the account blowing begins. this is the danger of this method. there will be days when you will wish that you hadn't stepped out of bed.

there is no shame in a loss if the trade has been managed properly. you pick the wrong direction, you suffer a bit and you bite it. problems start to build when you try to fix something that shouldn't really be there in the first place.. when you start to snowball a loss without any purpose or sense of the market. emotions can and will play tricks on you.

it is extremely easy to rescue a loss by sending more troops but can you force yourself to add when in profit? this is where the money is..

just some thoughts from my humble experience.
  • #14,144
  • Apr 1, 2010 4:08am Apr 1, 2010 4:08am
Quoting Fana
Hi dongsky
Yes and no. Slow down friend. Long way is ahead... Only 5trades? You have to absorb all together from the thread. Because it works together!
Important parts and components...
You maybe will be attempting to use it in many ways... and thing about it that "it is this..."....
Practise, practise, practise....
Dont be much excited, that you had some +trades. Only when you did it right, you can say OK. You also can have +trades, but without the right MM for example........
You recognize it after months, that sometimes...
yeah, you're right fana, i'll do a lot of practicin thanks!
Success consists of going from failure to failure without loss of enthusiam
  • #14,145
  • Apr 1, 2010 4:12am Apr 1, 2010 4:12am
Quoting maheswara
hey , not really , i just keep an eye on the FF red news and when it is happening and then I mark it in my chart time with a vertical line ...

I would usually reduce positions few mins before the vertical line , and adopt a defensive strat ... nothing major ...
i think it's best for me to just observe the market at this time, i don't feel confident trading the news. thanks.
Success consists of going from failure to failure without loss of enthusiam
  • #14,146
  • Apr 1, 2010 4:17am Apr 1, 2010 4:17am
Quoting piccolo
when you look at your performance please look back at least for a month. anything less is an ego trip. is your equity rising steadily or is it a zigzag?

it is very important to look at the drawdowns even when you manage to rescue the trade and end at breakeven or profit. this is where the account blowing begins. this is the danger of this method. there will be days when you will wish that you hadn't stepped out of bed.

there is no shame in a loss if the trade has been managed properly. you pick the wrong direction, you suffer a bit and...
thanks for the insights my friend, but i didn't mean to show off my trading result, it's just that i am so excited after i learn the basic steps in dancing. i have been actively trading since 2008 and i funded my equity several times and totaly blown up several times too. my apology if i sound arrogant or show off to you or other traders here... it was an honest happy gesture... it it's wrong then i'll just step aside and observe the forum from a distance it's because i still need more skills and knowledge the reason why i posted whatever happenings occured during my trading using fti's method.

thanks for your insight.

p.s. after loosing big time, i cannot afford to massage my ego
Success consists of going from failure to failure without loss of enthusiam
  • #14,147
  • Apr 1, 2010 4:29am Apr 1, 2010 4:29am
Quoting dongsky
thanks for the insights my friend, but i didn't mean to show off my trading result, it's just that i am so excited after i learn the basic steps in dancing....
Did you read the thread??? This should be you massage...
Market is the live beast. Everytime ready to take your money... The best what to do is to be well prepared...
Be carefull everytime.
  • #14,148
  • Apr 1, 2010 4:29am Apr 1, 2010 4:29am
Quoting dongsky
thanks for the insights my friend, but i didn't mean to show off my trading result, it's just that i am so excited after i learn the basic steps in dancing....
please continue, I did not mean to offend or lecture you. Most important thing is to be honest with yourself and try to avoid false hope and excitement.

i don't know who was the original author of this quote but it is very true:
"currency trading is the hardest easy money you will ever make"
  • #14,149
  • Apr 1, 2010 4:34am Apr 1, 2010 4:34am
Quoting Fana
Did you read the thread??? This should be you massage...
yep and still reading... i'm on page 122 i'm reading slowly and also practicing... on a live account, but i followed leighsww method for beginner of this method to start with small position, and 0.1 is mine. thanks.
Success consists of going from failure to failure without loss of enthusiam
  • #14,150
  • Apr 1, 2010 4:39am Apr 1, 2010 4:39am
Quoting dongsky
yep and still reading... i'm on page 122 i'm reading slowly and also practicing... on a live account, but i followed leighsww method for beginner of this method to start with small position, and 0.1 is mine. thanks.
My position scout is 3000. Equity is $1500. I use progression on positions 1,1,2. It is not ideal, but to do something advanced is riskie and i still better end in 3level, than expose more... It is NP to make 2% every day with this....
And this is not necessary. It is due to the market...
  • #14,151
  • Apr 1, 2010 4:39am Apr 1, 2010 4:39am
Quoting piccolo
please continue, I did not mean to offend or lecture you. Most important thing is to be honest with yourself and try to avoid false hope and excitement.

i don't know who was the original author of this quote but it is very true:
"currency trading is the hardest easy money you will ever make"
thanks, i'm not offended by your constructive comment i had encountered 100 times worse than yours you are spot on there friend, honesty is a very good virtue in life. after i started reading this forum, i tried my very best to follow fti's methodology; and hope is no longer in me when i'm trading although i'm still new to dancing but i will get the right pulse eventualy.

cheers.
Success consists of going from failure to failure without loss of enthusiam
  • #14,152
  • Apr 1, 2010 4:42am Apr 1, 2010 4:42am
Quoting Fana
My position scout is 3000. Equity is $1500. I use progression on positions 1,1,2. It is not ideal, but to do something advanced is riskie and i still better end in 3level, than expose more... It is NP to make 2% every day with this....
thanks for sharing actually when i started using this method, the first dance i made, i followed fti's advice 1.1.1. until i will really got the rythm right and feel the pulse, then i believe i can dance gracefuly and maybe i be a little aggressive.
Success consists of going from failure to failure without loss of enthusiam
  • #14,153
  • Apr 1, 2010 10:23am Apr 1, 2010 10:23am
OK, NFP tomorrow. US banks and equity markets are closed for Good Friday (btw, Happy Easter to everyone) and banks are closed all over the Western world as well. Good luck to anyone trading tomorrow, as I will be sleeping in. Trade well and stay focused.
  • #14,154
  • Apr 1, 2010 10:35am Apr 1, 2010 10:35am
Quoting GEfx
OK, NFP tomorrow. US banks and equity markets are closed for Good Friday (btw, Happy Easter to everyone) and banks are closed all over the Western world as well. Good luck to anyone trading tomorrow, as I will be sleeping in. Trade well and stay focused.
oh wow almost forgotten its easter ,
happy easter to those celebrating ,
Ill be trading tom , since i dont really have anything better to do

k , gnite , ciao
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,155
  • Apr 1, 2010 10:44am Apr 1, 2010 10:44am
Quoting Fana
My position scout is 3000. Equity is $1500. ...
Fana,

If I understand, your capital is $1500 and your scout is $3000.

I think you will repeat old mistakes Fana..... be carefull.

Rgs,

Textor

P.S.: Your scout has only one mission: to give you information about
the market situation.
If your scout is double your capital, your head is not sufficiently
cold to process the information that you receive from the market.
  • #14,156
  • Apr 1, 2010 12:54pm Apr 1, 2010 12:54pm
Quoting textor
Fana,

If I understand, your capital is $1500 and your scout is $3000.

I think you will repeat old mistakes Fana..... be carefull.

Rgs,

Textor

P.S.: Your scout has only one mission: to give you information about
the market situation.
If your scout is double your capital, your head is not sufficiently
cold to process the information that you receive from the market.
Hi Textor. Thank you. I check it. I go often: S3000, L1 3000, L2 6000. I thought that "scout" is Fti's first level... Isnt it really? regards Fana
  • #14,157
  • Apr 1, 2010 1:09pm Apr 1, 2010 1:09pm
Quoting Fana
Hi Textor. Thank you. I check it. I thought that "scout" is Fti's first level... Isnt it really? regards Fana
Hi Fana,

You are not FTI, remember.

IMHO you have to use the scout to pulse the market.
In that way, the scout should be "small".

For ex., in war if you have a company of 120 men,
it would not be wise to send 60 of them to patrol and
to look for information about the enemy
or about the battle field.....
You should send a platoon, not more than 10 men.

You are here alone, you only have your ammunition, in your case,
1500 bullets. If the first time that you see an enemy you shoot him
1453 bullets and a knife too, what do you will do when behind the first man appear 100 more? With what will you shoot? :-)

Rgs,

Textor
  • #14,158
  • Apr 1, 2010 1:16pm Apr 1, 2010 1:16pm
Quoting textor
Hi Fana,

You are not FTI, remember.

IMHO you have to use the scout to pulse the market.
In that way, the scout should be "small".

For ex., in war if you have a company of 120 men,...
Yes, i have to study this more... I have problem with this: Yes, i will send 10 men first. But how much is good to send after, because i am junior and FTI recommended 1,1,2. Because when i decrease my L1, just for example from current 3000 to .... 1000? I would be temptate to send more levels... So is it better to use ...L6,7... ?
  • #14,159
  • Edited 4:09pm Apr 1, 2010 3:37pm | Edited 4:09pm
Quoting Fana
Yes, i have to study this more... I have problem with this: Yes, i will send 10 men first. But how much is good to send after, because i am junior and FTI recommended 1,1,2. Because when i decrease my L1, just for example from current 3000 to .... 1000? I would be temptate to send more levels... So is it better to use ...L6,7... ?
Hi Fana,

I can't answer that, or better to say, I shouldn't.
You have to find your way.

Anyway, here you have a good example from auxesis:

http://www.forexfactory.com/showpost...ostcount=13574

But FTI wrote a lot about this too. Read again carefully.

And stay for a while at 1,1,2.....or 1,3,3..... is better for you right now.

Yes, you need money to make money. Do you remember? Capitalisation.

Have a nice week end.

Rgs,

Textor
  • #14,160
  • Apr 1, 2010 4:09pm Apr 1, 2010 4:09pm
Quoting Fana
My position scout is 3000. Equity is $1500. I use progression on positions 1,1,2. It is not ideal, but to do something advanced is riskie and i still better end in 3level, than expose more... It is NP to make 2% every day with this....
And this is not necessary. It is due to the market...
Wow Fana what is your margin level when you enter scout? Mine is about 3300%.

Maheswara you must really experienced if gonna trade tommorow. It's gonna be thin market. I guess price will be in a small range or all over the screen

Personally, I don't plan to trade my real account tomorrow, maybe just little demo trading without babysitting , while I sstudy the thread or read some forex book. I'm trying to build some habits concerning trading and not trading on holidays is one of them. I think holidays are for rest and celebrations , not for stressful activities and trading puts some stress on me. Maybe to experienced traders it is a walk in the park, but to me is stressful.

Have a good time on Easter, people. To those who trade tommorow I wish the best of luck .

MyTbo
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