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Technical Analysis Fallacy

  • #14,901
  • May 6, 2010 10:10am May 6, 2010 10:10am
There found it...some other as well but maybe later when I have more time

Quoting fti
Hi mijamoto,

Read and think carefully,
This legend became famous because of this report:

"in the presence of our representative, 286 transactions in various stocks, in 25 market days, on both the long and short side of the market. 264 of these transactions resulted in profits and 22 trades lost."
The profit rate was up to 92.3%.
During that month, the average interval between trades was only 20 minutes.
On one trading day, he made totally 16 trades, 8 out of them are the reversal points of the intra-day market fluctuation."

It was after...
  • #14,902
  • May 6, 2010 10:21am May 6, 2010 10:21am
With Dow breaching 10800 and steaming south it seems that the carry traders started dumping their YEN shorts big time... I hope you are riding that wave too
The Dow shows indications of trend reversal, the Street is covered with blood again.
  • #14,903
  • May 6, 2010 10:28am May 6, 2010 10:28am
looks like picolo's 2690 holding like a rock ...
lets see if dow can break that ... otherwise that point cld be a reversal ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,904
  • May 6, 2010 10:52am May 6, 2010 10:52am
Quoting maheswara
looks like picolo's 2690 holding like a rock ...
lets see if dow can break that ... otherwise that point cld be a reversal ...
looks like global risk aversion. dollar and yen gaining fast.
  • #14,905
  • May 6, 2010 11:01am May 6, 2010 11:01am
Quoting piccolo
looks like global risk aversion. dollar and yen gaining fast.
thats ur reversal

too bad time almost up
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,906
  • May 6, 2010 11:03am May 6, 2010 11:03am
Unbelievable, just unbelievable. Been in the E/J all morning, and just unbelievable.
  • #14,907
  • May 6, 2010 11:10am May 6, 2010 11:10am
Quoting GEfx
Unbelievable, just unbelievable. Been in the E/J all morning, and just unbelievable.
Same here, I wish I could shake your hand in person to congratulate you.

Like fti said, just do your best and react.
  • #14,908
  • May 6, 2010 2:27pm May 6, 2010 2:27pm
nice trade in UJ today,,,, stay with the main trend it will kick in sooner or later....




V
  • #14,909
  • May 6, 2010 2:32pm May 6, 2010 2:32pm
GEfx I hope you are still in it !!

Wow...don't think I will be able to sleep tonight. Fast and furious man kinda like the 08 bail out saga.
  • #14,910
  • Edited 2:55pm May 6, 2010 2:41pm | Edited 2:55pm
One way...........

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  • #14,911
  • May 6, 2010 2:53pm May 6, 2010 2:53pm
Today, Citi's trading desk accidentally sold USD 16bln in e-minis, when they were supposed to sell USD 16mln
  • #14,912
  • May 6, 2010 2:56pm May 6, 2010 2:56pm
Quoting imjscn
Today, Citi's trading desk accidentally sold USD 16bln in e-minis, when they were supposed to sell USD 16mln
A fat finger took down wall street, hahhahahhhahhhahhah
  • #14,913
  • May 6, 2010 3:05pm May 6, 2010 3:05pm
for fti

1916 GMT [Dow Jones] Computer-driven trading models likely generated the deepest dive in U.S. stocks, said one emerging market money manager. The chaos has left many human portfolio managers frozen.
  • #14,914
  • May 6, 2010 3:06pm May 6, 2010 3:06pm
wat the hell happened , left the market few hrs ago ,
found dow dropped 1000 points before recovering ,
wtf ??
thought action was all over after that bounce ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #14,915
  • May 6, 2010 3:09pm May 6, 2010 3:09pm
Quoting piccolo
for fti

1916 GMT [Dow Jones] Computer-driven trading models likely generated the deepest dive in U.S. stocks, said one emerging market money manager. The chaos has left many human portfolio managers frozen.
Some are stuck i'm sure, wait for the open tomorrow! there's gonna be hell to pay for computer trading, next congressional probe I'm sure, fits right into the evil traders mentality currently seen in the GS witch hunt.
  • #14,916
  • May 6, 2010 4:50pm May 6, 2010 4:50pm
"Citigroup Finds ‘No Evidence’ Bank Involved in Erroneous Trades"
http://www.bloomberg.com/apps/news?p...FjB7Fsdk&pos=2

hmmmmm...
  • #14,917
  • May 6, 2010 4:55pm May 6, 2010 4:55pm
They earned a windful profit, after TP, hide the fat finger somewhere else la
  • #14,918
  • Edited 6:51pm May 6, 2010 6:12pm | Edited 6:51pm
Is shorting the Euro worthy so close to 1.25?
Besides...tomorrow NP, Friday, and previous confusing Dow.
A likely highly volatil day.
still those who day trade
if they are very very nimble
could make a killing.
Me? Probably Not.
I am out
until Sunday evening.

Happy hunting to all.
Empty as water and soft as a facing wind mountain
  • #14,919
  • May 6, 2010 7:20pm May 6, 2010 7:20pm
Quoting luSan
Is shorting the Euro worthy so close to 1.25?
Besides...tomorrow NP, Friday, and previous confusing Dow.
A likely highly volatil day.
still those who day trade
if they are very very nimble
could make a killing.
Me? Probably Not.
I am out
until Sunday evening.

Happy hunting to all.
To trust one's own judgment is truly one of the closest things to the holy grail .
  • #14,920
  • May 6, 2010 8:50pm May 6, 2010 8:50pm
Quoting imjscn
Today, Citi's trading desk accidentally sold USD 16bln in e-minis, when they were supposed to sell USD 16mln
that has got to be the biggest crap i've ever heard in years. lol! how many zeros did that guy miss? or should i say added. lol

Quoting imjscn
They earned a windful profit, after TP, hide the fat finger somewhere else la
i higly doubt that. dont think 16b can fill at one price....just like that.
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