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Technical Analysis Fallacy

  • #14,741
  • Apr 30, 2010 4:35am Apr 30, 2010 4:35am
Quoting Setebos
It's a pretty congested zone, should hold the sell off fo rthe day, IMHO.
Anyone traded the all-over-the-place-mess yesterday? Was that one of those rare diamond formations or it's just my eye playing games on me?

I never thought I'd say that, but these days cable looks much more attractive to me. The world's definitely gone wild
I've been playing ping pong quite a bit, am I missing something or what ?
  • #14,742
  • Apr 30, 2010 4:53am Apr 30, 2010 4:53am
Quoting aiyahmarklah
I've been playing ping pong quite a bit, am I missing something or what ?
If it's the diamond thingy you're asking about - here it is. I've seen it on a very rare occasion. I'm not much of a painter
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 21 KB
  • #14,743
  • Apr 30, 2010 5:03am Apr 30, 2010 5:03am
Hello friends
I have a break from forex for some days now. Because before 3days i have become mad.
I was trading 10X more than my MM alows. End with 50%DD. I wasnt conscious and have trouble with leaving my gf. Al with trading together it was too much...Terrible, horrible...

I need some lift with this: Do you think, that after nearly 1year in forex it is normal to do such extempore? Now i have 62% DD of all invested capitall. I have lost 1500dolar in forex, it is not much, but i cant still learn myself discipline. I know how to trade, but i dont do it.
Sorry for this question, but i have to handle it somehow... Please, be very if you replies. Thank you.
regards
  • #14,744
  • Apr 30, 2010 5:07am Apr 30, 2010 5:07am
Quoting Fana
Hello friends
I have a break from forex for some days now. Because before 3days i have become mad.
I was trading 10X more than my MM alows. End with 50%DD. I wasnt conscious and have trouble with leaving my gf. Al with trading together it was too much...Terrible, horrible...

I need some lift with this: Do you think, that after nearly 1year in forex it is normal to do such extempore? Now i have 62% DD of all invested capitall. I have lost 1500dolar in forex, it is not much, but i cant still learn myself discipline. I know how to trade, but i dont...
You now the basic rules so start implementing. Foruming doesn't seem to help you. Focus on the market itself. And most important of all - think and ask yourself the questions. The answers to your questions are inside you, not in this forum. Hope this helps.

S
  • #14,745
  • Apr 30, 2010 5:25am Apr 30, 2010 5:25am
Quoting Fana
Hello friends
I have a break from forex for some days now. Because before 3days i have become mad.
I was trading 10X more than my MM alows. End with 50%DD. I wasnt conscious and have trouble with leaving my gf. Al with trading together it was too much...Terrible, horrible...

I need some lift with this: Do you think, that after nearly 1year in forex it is normal to do such extempore? Now i have 62% DD of all invested capitall. I have lost 1500dolar in forex, it is not much, but i cant still learn myself discipline. I know how to trade,...
Close all positions and take out whatever capital you have left. Then buy a gift for your girlfriend with it.
  • #14,746
  • Apr 30, 2010 5:34am Apr 30, 2010 5:34am
Quoting Fana
Hello friends
I have a break from forex for some days now. Because before 3days i have become mad.
I was trading 10X more than my MM alows. End with 50%DD. I wasnt conscious and have trouble with leaving my gf. Al with trading together it was too much...Terrible, horrible...

I need some lift with this: Do you think, that after nearly 1year in forex it is normal to do such extempore? Now i have 62% DD of all invested capitall. I have lost 1500dolar in forex, it is not much, but i cant still learn myself discipline. I know how to trade, but i dont...
You are learning....
  • #14,747
  • Apr 30, 2010 5:47am Apr 30, 2010 5:47am
Quoting aiyahmarklah
You are learning....
I was just about to say the opposite.
  • #14,748
  • Apr 30, 2010 5:48am Apr 30, 2010 5:48am
Quoting Setebos
If it's the diamond thingy you're asking about - here it is. I've seen it on a very rare occasion. I'm not much of a painter
yeah, kinda fustrated with the lack of direction i guess, i dont know but just feels like trading in unfamiliar territory. Or my brain playing tricks on me....
  • #14,749
  • Apr 30, 2010 5:54am Apr 30, 2010 5:54am
Quoting piccolo
I was just about to say the opposite.
...no no, he said he traded for a yr plus and lost somewhere in excess of 1.5 k ? usually it takes a couple of more years and more 1.5 ks to be competent at what the set out to do. The key, at least imo is that he can reach there before going broke.

Fana take it positively man, this is retail forex where it is so much more friendly and less costly to learn. In futures trading for example, I have to pay for my charting, data feed, crazy commisions and per "pip" is most of the time more than $50. All these while still not making money (during the learning days).
  • #14,750
  • Apr 30, 2010 6:00am Apr 30, 2010 6:00am
Now i know, that it is +/- normal(at the beginning) and that i am not hopeless... Thank you.

Boys, ...my gf..... i was doing my best... Cooking, buying, SINGING..... I was like a wolf, wolf in the door still knockig, still believing.... AAAAAAAaaaaaaaa...... But she didnt like my parents. I eat everything. But not this. Regards
  • #14,751
  • Apr 30, 2010 7:12am Apr 30, 2010 7:12am
Fana, I was in more or less your shoes. I can guess how you feel. I exprienced big losses, too. Two times 15% loss to almost deplete my profit buffer and one 30% loss to bring me to 20% DD from initial capital. I learned my lessons and it took me some time to get my morale up.
Since then I am very defensive, never exposing too much, and never getting married to my positions. It's two weeks since the big loss and I have 5% profits and I think I am improving and I don't have motivation problems. The key is to find your mistakes and reassess your strategy and start from a scratch.

Even if someone here points out exactly your mistakes, it will be pointless while you still don't realize them.

As for your girlfriend, ponder this, at the end you are going to live with her not with you parents, so I don't see how they can be a problem for your relationship, unless you let them become one.

I hope I've helped. If not, just don't pay attention to me

Regards, MyTbo

P.S. Yesterday was wild, I'm happy I made it alive with just 0.5% loss. My bias was down today, but EUR/USD doesn't seem to agree. I'm glad I didn't start trading today.
  • #14,752
  • Apr 30, 2010 8:33am Apr 30, 2010 8:33am
Looks like Greece might get 120 billion euros.
  • #14,753
  • Edited 10:11am Apr 30, 2010 9:57am | Edited 10:11am
Quoting Fana
Now i know, that it is +/- normal(at the beginning) and that i am not hopeless... Thank you.

Boys, ...my gf..... i was doing my best... Cooking, buying, SINGING..... I was like a wolf, wolf in the door still knockig, still believing.... AAAAAAAaaaaaaaa...... But she didnt like my parents. I eat everything. But not this. Regards
Hi Fana,
some thoughts, just mine, but you are welcome to think if i am crazy.

1. We just proved again that the emotions WILL affect your trades. So when emotions are not stable, stay off the markets. Nothing new here. I said it 100 times. mindset has to be tiptop.

2. Your cause for unstable mindset.
Seems you are in love.
As you had experienced. It is better to be love than to love. To love a woman is a complex process. Takes a lot of focus from man. But here you are , choiced between to focus on business of choice or woman of choice. AS you learned, without the financial stability, there really isn't any choice on your part. The ball reverts to the other court.
There are eves and there are liliths. So it all depends.

Anyway there's lots more fishes in the sea? In reality they are all the same, then again they can be 180 degress different. The difference is in how she makes you feel. And what her perspective to life.
If she truely loves you, its heaven. Otherwise.....

www.youtube.com/watch?v=hyCom4PuAHI

Funny thing about God is, When he closes one door, another opens. Its just takes some time for you to find the door that opened.

As alike in trading, if the position not suit your bias, then the only alternative left is to cut loss, However painful it maybe. If you cannot leave the cutting and pain behind, then you probably cannot trade until you come to terms with yourself.

If you love her , let her fly free.
If you hold on too tightly, you may squeeze her to death.
If she come back to you, she will be yours always.
If she does not return, she was never yours anyway.
regards
  • #14,754
  • Apr 30, 2010 10:11am Apr 30, 2010 10:11am
Wise words Fti, thank you. Sometimes i think of how you can from so few sentences discover, what is really important and how it really is. Unfortuately you are right again. If it wasnt serious, i woldnt be hit so much. But i feel like i was crashed by army tank...Yes, with that doors it is very true. I hope,the forex door is still open for me. I will concentrate on it more. regards




Quoting fti
Hi Fana,
some thoughts, just mine, but you are welcome to think if i am crazy.

1. We just proved again that the emotions WILL affect your trades. So when emotions are not stable, stay off the markets. Nothing new here. I said it 100 times. mindset has to be tiptop.

2. Your cause for unstable mindset.
Seems you are in love.
As you had experienced. It is better to be love than to love. To love a woman is a complex process. Takes a lot of focus from man. But here you are , choiced between to focus on business of choice or woman of choice. AS you...
  • #14,755
  • Apr 30, 2010 10:11am Apr 30, 2010 10:11am
Quoting fti
Hi Fana,
If you love her , let her go.
If you hold on too tightly, you may squeeze her to death.
If she come back to you, she will be yours always.
If she does not return, she was never yours anyway.
regards
sounds like someone else is in love too
just jesting lo sir

alrite , good trade y'all

edit:
aiyo fana , this game u gotta be able to take a hit ... get up n fight ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,756
  • Edited 10:28am Apr 30, 2010 10:17am | Edited 10:28am
Quoting Fana
Wise words Fti, thank you. Sometimes i think of how you can from so few sentences discover, what is really important and how it really is. Unfortuately you are right again. If it wasnt serious, i woldnt be hit so much. But i feel like i was crashed by army tank...Yes, with that doors it is very true. I hope,the forex door is still open for me. I will concentrate on it more. regards
Don't worry about it too much. It really will take some time for the emotions to settle. Its ok, live with it. Time will heal you. Stay off trading for a while, go out mingle around. Find some kind shoulders to lean on for a little. Most important , not stay alone and think too much.
You need have more physical activities to heal. Most important go out and make friends. Younever know whats around the corner.

Its good time to catch up with your neglected drinking buddies?


regards.
  • #14,757
  • Apr 30, 2010 10:18am Apr 30, 2010 10:18am
Quoting maheswara
sounds like someone else is in love too
just jesting lo sir

alrite , good trade y'all

edit:
aiyo fana , this game u gotta be able to take a hit ... get up n fight ...
Hi Mahes
Yep. Now i have some rest. But next week i am gonna get up and fight. Many battles ahead.(if i will win some chess games, now i lose and lose.....maybe on saturday my father will win after i was winner last time...)...

Yes, physical activity is good. I will be digging and plant potatoes in fathers old residence... Where foxes say good night...
  • #14,758
  • Apr 30, 2010 10:22am Apr 30, 2010 10:22am
wooo...the master has spoken.

dear fti, as some participants had discussed earlier, is it ok to discuss about spirals ?
  • #14,759
  • Apr 30, 2010 10:25am Apr 30, 2010 10:25am
Quoting aiyahmarklah
wooo...the master has spoken.

dear fti, as some participants had discussed earlier, is it ok to discuss about spirals ?
) you want let the cat out of the bag and create new gremlins?

regards
  • #14,760
  • Apr 30, 2010 10:29am Apr 30, 2010 10:29am
I think cat still inside the bag for me...maybe I see the tail....LOL

typical me....
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