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Technical Analysis Fallacy

  • #14,441
  • Apr 17, 2010 10:23am Apr 17, 2010 10:23am
Dear FTI and all dancers who have contributed to this thread.

I have been a loosing trader for 6 months. Drifting from methods to methods, only to find myself confused most of the time. I used to read this thread just like all the others. e.g. gave it a try for a few hours and the first time it didn't work, i will drop and move on.

Until I have lost 50% of money from some of my systems, I was once lost again. I came and reread this very thread and suddenly all FTI's teachings became much much more meaningful then the first time I read it. Flexability, disapline and balls of steel with a cold blooded brain was what I lacked.

I started to stick to his teachings and apply them on a demo. I told myself, the day I could feel comfortable and confident in my trading + show by results of small DD with double the balance on the demo account would be the day when I will give the real market a try. After months of demo I finally came to this day.

I just want to let all dancers and FTI to know, I wouldn't be able to gain such confidence and disapline for my demo training. The lessons I have learned from both FTI's teachings + all you dancer's learning progress have been the greatest gift I have ever recieved.

Now I will be getting ready for Live, therefore I still have a long way to become sucessful. I wish you all dancers the best in both wealth and health.

As a faithful student of this thread, I will get back to you all with my results. I wanna make all of you proud for the great changes you brought to me.

Staying nimble

Regards
Life is a school for the soul
  • #14,442
  • Apr 17, 2010 10:27am Apr 17, 2010 10:27am
Happy weekend to everyone. Hope you all had great trading week. Love the forex -- it's so predictable! auxesis, I have another trading buddy who was betting the E/$ square up level was 1.3480, which was closer to the actual level than my 1.3498, so he is the winner of a cup of coffee this afternoon at Starbuck's.

I was reading the posts from this past week and aside from the problems with brokers, it seems like some of our newer trading friends are having predictable problems with discipline, understanding the forex market, and chart analysis. I suggest re-reading fti's wise words, especially related to market movements. Keep working and it will come to you eventually.

Have a great weekend and watch out for volcanic ash if you live in Europe.
  • #14,443
  • Apr 17, 2010 11:29am Apr 17, 2010 11:29am
Quoting piccolo
Hi LuSan,

Check out "Forex OTG" for iPhone, it has ForexFactory calendar in it, too.

App is free unless you want to do Live trading with MT4 account.

regards,
I have it.

Regards,
Empty as water and soft as a facing wind mountain
  • #14,444
  • Apr 17, 2010 2:15pm Apr 17, 2010 2:15pm
Quoting esuffw
Dear FTI and all dancers who have contributed to this thread.

I have been a loosing trader for 6 months. Drifting from methods to methods, only to find myself confused most of the time. I used to read this thread just like all the others. e.g. gave it a try for a few hours and the first time it didn't work, i will drop and move on.

Until I have lost 50% of money from some of my systems, I was once lost again. I came and reread this very thread and suddenly all FTI's teachings became much much more meaningful then the first time I read it. Flexability,...
Hello Esuffw. Welcome and enjoy working here. Stick to the seniors here. Please, dont confuse yourself, that something has finally change with your trading. 6 month is not enough to evaluate it. Listen, work, dont risk much. There are many lessons ahead... Regards
  • #14,445
  • Apr 17, 2010 8:56pm Apr 17, 2010 8:56pm
"The CFTC Proposes 10:1 Leverage and This Will End U.S. Retail Forex"

I just read this some place. If passes then things will change.
Probably it will affect only USA.
Empty as water and soft as a facing wind mountain
  • #14,446
  • Apr 18, 2010 12:30am Apr 18, 2010 12:30am
Quoting Fana
Hello Esuffw. Welcome and enjoy working here. Stick to the seniors here. Please, dont confuse yourself, that something has finally change with your trading. 6 month is not enough to evaluate it. Listen, work, dont risk much. There are many lessons ahead... Regards
Thx for the reminders, Fana. I have a very clear mind now when I trade and I will always remind myself to be nimble and safe. I will do everything I can to stop those "lessons ahead" from killing my account.

Good trading to you
Life is a school for the soul
  • #14,447
  • Apr 18, 2010 6:47am Apr 18, 2010 6:47am
Here's an interesting read on the PIIGS (the abbreviation simply can't get any better ) situation in Europe with some interesting facts and aspects.
http://www.zerohedge.com/article/pii...iigs-implosion

Borrowing from Mahes again is this a fishy smelling situation or is it just my nose playing games one me?
  • #14,448
  • Apr 18, 2010 8:13am Apr 18, 2010 8:13am
Quoting Setebos
Here's an interesting read on the PIIGS (the abbreviation simply can't get any better ) situation in Europe with some interesting facts and aspects.
http://www.zerohedge.com/article/pii...iigs-implosion

Borrowing from Mahes again is this a fishy smelling situation or is it just my nose playing games one me?
Good article. This situation is still playing itself out and will continue to spiral down until the PIIGS cut spending and raise taxes, which they are unable to do at this time. The EU/IMF plan just "kicks the can down the road" a few weeks or months. This may weaken the Euro going forward, while the US has at least been increasing taxes and will do so again next year (quite a large tax increase). US banks will do well as long as commercial real estate does not go bust, so US is the least sick patient now, at least for the time being.

All of this is interesting but only matters if you trade a day chart, while I am just trying to figure out where things are going for a few hours at a time, so keep all this predictive stuff in perspective and trade what you see in your charts, not what you thing should happen.

fti, I would love to hear your perspective on the health of banks around the world, if you have time.
  • #14,449
  • Apr 18, 2010 8:47am Apr 18, 2010 8:47am
Quoting GEfx
Good article. This situation is still playing itself out and will continue to spiral down until the PIIGS cut spending and raise taxes, which they are unable to do at this time. The EU/IMF plan just "kicks the can down the road" a few weeks or months. This may weaken the Euro going forward, while the US has at least been increasing taxes and will do so again next year (quite a large tax increase). US banks will do well as long as commercial real estate does not go bust, so US is the least sick patient now, at least for the time being.

All of...
Yep, I absolutely agree that trading intraday can't rely on such sort of info. However I do keep my eyes open on the large picture, always staying in the info loop.
By the way there seems to be a new wave of "anti-banks" mood gaining momentum after Goldman was brought in the fraud scandal spotlight. I would be more then interested to hear fti's opinion on the subject too, hope he finds the time to share it with us
  • #14,450
  • Apr 18, 2010 4:40pm Apr 18, 2010 4:40pm
Hope everyone had a great weekend. The GBP/$ has opened with an impressive gap, but opening gaps on the other currencies have been squared. Watching the GBP for an early-in-the-week opportunity now.
  • #14,451
  • Apr 19, 2010 1:53am Apr 19, 2010 1:53am
rather odd to have big up gap last week n big down gap this week ...

so be nimble all

good day n good trading
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,452
  • Apr 19, 2010 2:49am Apr 19, 2010 2:49am
Hi and good morning Friends,

I guess what we are doing here is something like this:

Improvisations on FTI's great teachings.

Some are very harmonic,
some are more like free jazz,
some made chnages in dynamic and paraphrasing
some are just "catastrophic alienations" ...

CU,
MaMood

Inserted Video
  • #14,453
  • Apr 19, 2010 4:29am Apr 19, 2010 4:29am
Hi, guys
How are you doing. I'm on the battlefield already. I made a successful attack south on EUR/USD , now I waiting to see if riding opportunity wll arise

Inserted Video


enjoy
  • #14,454
  • Edited 5:59am Apr 19, 2010 4:51am | Edited 5:59am
Quoting MyTbo
Hi, guys
How are you doing. I'm on the battlefield already. I made a successful attack south on EUR/USD , now I waiting to see if riding opportunity wll arise

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

enjoy

Now i am trying to scalp GBP, EUR is a little ahead...
Of course it is what i did... who knows if it is now actuall...
...Trying to dance..
  • #14,455
  • Apr 19, 2010 8:35pm Apr 19, 2010 8:35pm
eyes on e/u 3489 for scout entry.
  • #14,456
  • Apr 19, 2010 9:19pm Apr 19, 2010 9:19pm
Quoting MyTbo
Hi, guys
How are you doing. I'm on the battlefield already. I made a successful attack south on EUR/USD , now I waiting to see if riding opportunity wll arise

enjoy
guys, ahaha, im getting caught on the wrong side of your trades! lol. geez i think ive stayed too long on the long train. friday was cut loss, yestserday was so so, doh!
  • #14,457
  • Edited 2:07am Apr 20, 2010 1:39am | Edited 2:07am
Hello friends

Jest1081 : Matrix reloaded. I was also mostly long..., but London was more likely downtrend...

Lilpip : Imho, 1,3500 is maybe also new important valid level too...

I was roaming throw the internet and reading some other "threads". It was interesting.....
People mostly look for some system, which can be readable and universal... And they dont care about market structure, volatility, speed of the market... Now i cant imagine trading without this knowledge. When i dont have timing and some feeling of the market pulse, what to do... Only predicting market seems to remains.... And there are many who "know how to trade...". It is very important for beginners "not to stick with them"...
It is very, VERY good, that Fti has given the opportunity to study from him.
Regards

OANDA Canada? What is it about???
  • #14,458
  • Apr 20, 2010 2:50am Apr 20, 2010 2:50am
Hi and good morning Friends!

From time to time I'm doing very critical analysis of my way of trading. Especially in the situations, when I have faced critical problems like major drawdowns, bad emotions like fear or several losing days in a row.

The findings I made are most of the time very similiar:
I was not following fti's teachings!

But I'm not failing with the MO itself. I know most of the techniques/strategies/tactics he has tought us very well. I'm failing with my mindset. Be it, that I'm unpatient, greedy, tired or stressed by non trading factors.

Not sure if I should be sad or happy with my findings.

Analysing my trading has shown without any doubt, that follwing fti's teachings has made me a profitable trader. Since I have internalized his teachings (or let's say my understanding of his teachings) I can feel the market. I can see the mood of the markets out off its PA. I can feel/see exhaustings moves, accellerating impulses, high probability rescue areas and so on. At days with a healthy and strong mindset I can dance with her all night long, perfectly in sync gathering good profits.

But the difficulty is to indentify the "weak mindset days" in advance.
And that is the sad part of my findings. I'm following ftis thread since the end of 2007 now. I have made most of the findings about my character, weaknesses and strength since I started to read this thread. I'm working hard to develop a professionals traders mindset and to come over my scorpions. But I got caught by my failures nearly as often as at the beginning of the journey. The only difference is that I'm able to compensate my failures with extraordinary profitable periods of time.

Hmh - should I really give up on this non-evolutuion?
How are your experiences out there?
Would be nice to hear some findings about fighting your scorpions!

Thanx,
MaMood
  • #14,459
  • Apr 20, 2010 3:04am Apr 20, 2010 3:04am
Quoting MaMood
Hi and good morning Friends!

From time to time I'm doing very critical analysis of my way of trading. Especially in the situations, when I have faced critical problems like major drawdowns, bad emotions like fear or several losing days in a row.

The findings I made are most of the time very similiar:
I was not following fti's teachings!

But I'm not failing with the MO itself. I know most of the techniques/strategies/tactics he has tought us very well. I'm failing with my mindset. Be it, that I'm unpatient, greedy, tired or stressed by non...
Hello MaMood. I also face this... But you are from some much higher class than me, so this is the question for Fti and other seniors....

But, if i can, i thing, that this is interesting.:
Human brain have some phases throw the day. "alpha....". So our vigilance and inteligence can differ... It is stronger somewhere and before sleeping it is low...

I am not normal in this. I can solve mathematical tasks at night best. But in the morning i have problems.

I have measered it by the international society Mensa. In the morning they measured me 127 of Raven. Now i try it in the evening....to confirm my 140... regards. Fana
  • #14,460
  • Apr 20, 2010 3:29am Apr 20, 2010 3:29am
Quoting MaMood
Hi and good morning Friends!

From time to time I'm doing very critical analysis of my way of trading. Especially in the situations, when I have faced critical problems like major drawdowns, bad emotions like fear or several losing days in a row.

The findings I made are most of the time very similiar:
I was not following fti's teachings!

But I'm not failing with the MO itself. I know most of the techniques/strategies/tactics he has tought us very well. I'm failing with my mindset. Be it, that I'm unpatient, greedy, tired or stressed by non...
Hey MaMood,
I absolutely get where you're coming from. The stress from my daily activities is something I am still learning to control. Emotions are never rational and they do intervene in our activities in a way that we can't always fully understand when things are actually happening. Still, what helps me - physical exercises (physical tone affects my mindset massively), try to have as much free time as possible - hang with friends/family, watch movies, have a drink - anything that will take me away from my stress creators (the minds needs to cool off). Reading Terry Pratchett also helps, but that's just me

Best
S
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