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Technical Analysis Fallacy

  • #17,541
  • Jul 26, 2010 3:14am Jul 26, 2010 3:14am
Morning guys,

just started my trading day, missed the runner of the YEN and did not want to try to catch falling knifes so now I'm scouting the loose of steam in the old continent. We'll see.

Hey MaMood, your girl is wild this morning, hope you are riding that wave.

Good trading to everyone, stay strong and sharp
S
  • #17,542
  • Jul 26, 2010 5:50am Jul 26, 2010 5:50am
Hi cheif and dancers

I have been trading live for some months now and the result was bad. Bad in a way that it is good. Here are my reasons:

1st - I have made a lot of money in the first month, in fact 20% of my total account. But one greedy and rigid resure took all of my profits away on the LAST TWO DAYS of the month (I was dreaming about buying a new computer to trade etc....).

Lessons learned: When your motive and focus have been place on material rewards, you become greedy and always asking for more. You forget about risk until you get to a point where your hands started shaking and cut the trade just before it starts turning back. ( The good old stories again. SELF DESTRUCTION)

2nd - I have traded more carefully in the second month with the focus of GETTING IT RIGHT. I don't think about my performance in terms of $, but I use "HOW WELL DID I DO TODAY?" to gauge my performance. Although there was one order mis-placment which again took a lot of profit away, I still end the month with a small profit.

Lessons Learned: My skills was still very bad. I was gambling with a martingale system. So I re-read, re-demo, re-read, re-demo until I found I was truly riding the waves. Before that I was just a stuborn fighter who won't even mind fighting anti- Fed (the big boss) trends. Now I see when to quit, when to scale in, when to scale out, when to flip in my own style.


Its easy to say "I have read the first 200pages!". But doing it is even harder. I can say my income has become more stable now. My mind has also found harmony and peace through the life teachings of you cheif. I am still imporving everyday and learning new thing everyday, but I am glad to say I no longer have fear from the market I trade in.

Besides that, my best friend since I was a kid have also started to trade live. He is also a wonderer in the thread, but he is very shy so he doesnt come out often, but I would like to thank you for the life changing inspiration you have given us. All of you guy's effort have been a torch to us in darkness.

I shall carry on with my trades. See you all on the dance floor!

Regards
Life is a school for the soul
  • #17,543
  • Jul 26, 2010 6:13am Jul 26, 2010 6:13am
Relaxation

Inserted Video
  • #17,544
  • Jul 26, 2010 7:22am Jul 26, 2010 7:22am
“Foreign exchange is the world’s biggest fruit and vegetable store, with millions of people playing it 24 hours a day,” Goldman Sachs Chief Global Economist Jim O’Neill said on July 21 in a radio interview with Tom Keene on Bloomberg Surveillance. “Anybody who thinks they can get foreign exchange right all the time should be in a lunatic asylum.”



Setebos have you started trading full-time?

Gro thanks for the clip. I needed some relaxation after being a pig while trading EUR/USD today.

Regards, MyTbo
  • #17,545
  • Jul 26, 2010 7:33am Jul 26, 2010 7:33am
Hello, I have read through this thread an tried on demo to apply this method , just wondered if there was any particular platform or broker that is more suited to this method.Just that with the broker am trying at the moment every time i add my soldiers its costing the spread ,so like adds 1 more = spread then add 2 more = cost another spread. Also the scout on a rescue is still classed as loser as they stay as individual trades. I did try a platform from infinity futures that did snowball the added soldiers and you could see on there system were break even would be as soon as u add soldiers. the screen had the current price in the middle column to the left were next lvl of buyers to the right column sellers. One click of the price in column you could enter or close a trade that system would be great for this method.Unfortunately they only deal in futures and the margin is more than i want to risk wen i first go live. the forex brokers i have tried dont seem to have this. Seems you have open trades easy enough but then go to another window that shows just your particular trade then right click select from dropdown list to close it.
I wanted to ask here because this system seems so logical i want to practice on a platform that suits so i can then go live with the correct platform.
And thankyou for this thread i have learned so much already nice to see so many genuinely nice sharing people.
just the fact you can rescue soldiers is a golden nugget to me lol. took away a lot of stress as soon as the penny dropped.
making green pips large and red pips small this is my goal.
  • #17,546
  • Jul 26, 2010 7:33am Jul 26, 2010 7:33am
wohooo...score!!! what luck.
  • #17,547
  • Jul 26, 2010 7:34am Jul 26, 2010 7:34am
Quoting MyTbo

Setebos have you started trading full-time?

MyTbo
Yeah, finally
still in adjustment mode, but at least up and working. E$ is all over the place today, it seems the iron lady is leading the way with Yen playing opposite (the new normal, LOL). NY volumes rushing in now, keep it tight.
  • #17,548
  • Edited 7:52am Jul 26, 2010 7:38am | Edited 7:52am
Quoting MyTbo
“Foreign exchange is the world’s biggest fruit and vegetable store, with millions of people playing it 24 hours a day,” Goldman Sachs Chief Global Economist Jim O’Neill said on July 21 in a radio interview with [url="http://search.bloomberg.com/search?q=Tom%20Keene&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja"][color=#0033cc]Tom...
I am also a pig E/U ... my choleric inputs

choleric = long day
  • #17,549
  • Jul 26, 2010 7:56am Jul 26, 2010 7:56am
Quoting Setebos
Yeah, finally
still in adjustment mode, but at least up and working. E$ is all over the place today, it seems the iron lady is leading the way with Yen playing opposite (the new normal, LOL). NY volumes rushing in now, keep it tight.
Don't force it.
The whole day is about the yen crosses.
the markets 's not trading.
Only market makers trying make a living.
Take a break.
Only 1 push expected on Home sales at 10:00
other than that, can sleep on the markets.

the japs control today
everything is trading like yen. aka only letargy,.
No spunk at all.
make a few pips and have a good drinkout.


regards
  • #17,550
  • Jul 26, 2010 8:12am Jul 26, 2010 8:12am
Quoting fti
Don't force it.
The whole day is about the yen crosses.
the markets 's not trading.
Only market makers trying make a living.
Take a break.
Only 1 push expected on Home sales at 10:00
other than that, can sleep on the markets.

the japs control today
everything is trading like yen. aka only letargy,.
No spunk at all.
make a few pips and have a good drinkout.


regards
LOL, chief, if those days happen more often then not I'm gonna end up having a small number of pips and a big drinking problem
  • #17,551
  • Jul 26, 2010 8:21am Jul 26, 2010 8:21am
Quoting Setebos
LOL, chief, if those days happen more often then not I'm gonna end up having a small number of pips and a big drinking problem
  • #17,552
  • Edited 8:53am Jul 26, 2010 8:35am | Edited 8:53am
Quoting Setebos
LOL, chief, if those days happen more often then not I'm gonna end up having a small number of pips and a big drinking problem
No one's forcing you drink liquor.
you can have coffee, fruit juices, cocktails........................
.........walkabouts in casinos............go to the sing joints and sing a song.........just go splash a few pips................help the economies out won't you?

ok ok , how's about give the cb's a break.?


What important, don't force it, take a break.


ok, ok can you sing better than this?

Inserted Video


don't laugh at her ok?
she's s pro.
here's her real stuff.
And she's got following in hundreds of thousands of head counts.
Always seld out concerts.

Inserted Video
  • #17,553
  • Jul 26, 2010 8:53am Jul 26, 2010 8:53am
Quoting fti
No one's forcing you drink liquor.
you can have coffee, fruit juices, cocktails........................
.........walkabouts in casinos............go to the sing joints and sing a song.........just go splash a few pips................help the economies out won't you?

ok ok , how's about give the cb's a break.?


What important, don't force it, take a break.


ok, ok can you sing better than this?

http://www.youtube.com/watch?v=uTFmyI5azCI

don't laugh at her ok?
she's s pro.
here's her real stuff.
http://www.youtube.com/watch?v=FmElvj9Gzxs&fmt=18...
don't know about trading and that first link, but I assure you - you don't want to hear me singing. They used singers like me for torture purposes in Guantanamo... ok, that was a bit too dark
It's not exactly my cup of tea in music but the second one is nice and definitely much better then the first one

Edit:
Here's a little bit of what I like to listen to while trading

Inserted Video
  • #17,554
  • Edited 9:30am Jul 26, 2010 8:58am | Edited 9:30am
Quoting Setebos
don't know about trading and that first link, but I assure you - you don't want to hear me singing. They used singers like me for torture purposes in Guantanamo... ok, that was a bit too dark
It's not exactly my cup of tea in music but the second one is nice and definitely much better then the first one

Edit:
Here's a little bit of what I like to listen to while trading

http://www.youtube.com/watch?v=g3Mg_...feature=avmsc2
ok ok real stuff.
This one can shake bomb shelter.
Switch on loud.

http://www.facebook.com/profile.php?...=1523907624664


Inserted Video



Inserted Video
  • #17,555
  • Jul 26, 2010 9:12am Jul 26, 2010 9:12am
Quoting fti
ok ok real stuff.
This one can shake bomb shelter.
Switch on loud.

http://www.facebook.com/profile.php?id=1443832166&v=app_2392950137#!/video/video.php?v=1523907624664


http://www.youtube.com/watch?v=_pyc-w9jIQs
WOW, that pianist in "Crawl" is a maniac, I can't imagine fingers moving that fast!
  • #17,556
  • Jul 26, 2010 9:15am Jul 26, 2010 9:15am
Quoting fti
No one's forcing you drink liquor.
you can have coffee, fruit juices, cocktails........................
.........walkabouts in casinos............go to the sing joints and sing a song.........just go splash a few pips................help the economies out won't you?

ok ok , how's about give the cb's a break.?


What important, don't force it, take a break.


ok, ok can you sing better than this?

http://www.youtube.com/watch?v=uTFmyI5azCI

don't laugh at her ok?
she's s pro.
here's her real stuff.
And...

Today is the most laughter i had on this thread after a long time....

V
  • #17,557
  • Edited 9:42am Jul 26, 2010 9:20am | Edited 9:42am
Quoting fti
Don't force it.
The whole day is about the yen crosses.
the markets 's not trading.
Only market makers trying make a living.
Take a break.
Only 1 push expected on Home sales at 10:00
other than that, can sleep on the markets.

the japs control today
everything is trading like yen. aka only letargy,.
No spunk at all.
make a few pips and have a good drinkout.


regards
Yeah, today I did a excellent sample all "five mistakes" General
PS I'll have to forgive myself ... today, I was "as greasy paper in the tunnel"
  • #17,558
  • Jul 26, 2010 9:44am Jul 26, 2010 9:44am
Quoting Setebos
WOW, that pianist in "Crawl" is a maniac, I can't imagine fingers moving that fast!
Glad you liked it.
Oh nearly close to the speed of my trading.

regards

oops let it go , let it go. no rushing. I see it too.
Let it go.......
  • #17,559
  • Jul 26, 2010 9:53am Jul 26, 2010 9:53am
Quoting Gro
Yeah, today I did a excellent sample all "five mistakes" General
PS I'll have to forgive myself ... today, I was "as greasy paper in the tunnel"
Bad hair Day?
nevermind, one day not make a career.

regards
  • #17,560
  • Jul 26, 2010 10:12am Jul 26, 2010 10:12am
Quoting fti

oops let it go , let it go. no rushing. I see it too.
Let it go.......
Caught me there, was thinking of placing a trade. Busted!
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