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Technical Analysis Fallacy

  • #17,901
  • Aug 6, 2010 9:31am Aug 6, 2010 9:31am
My last scout entry shot up 25 pips so i just bank them an wait till news settles down. Couple little moves but couldnt post em cause this site was down, no point posting them now there done anyone can do that.
If you dont mind me putting my trades here.
maybe some people can help me improve or some people even may like to try it But its just my interpretation.
making green pips large and red pips small this is my goal.
  • #17,902
  • Aug 6, 2010 9:41am Aug 6, 2010 9:41am
eur/usd scout at 1.3330
put him in as price eased back for further move up
down 12 pips at mo.on this scout.
Had 2 scout go positive on entry not normal for me.
must check mouse does not seem to work like normal.(normal= click mouse price moves against me ) May have to adapt but am sure its just temporary malfunction. http://cdn.forexfactory.com/images/icons/icon10.gif
making green pips large and red pips small this is my goal.
  • #17,903
  • Edited 9:57am Aug 6, 2010 9:43am | Edited 9:57am
http://www.guardian.co.uk/business/2...-fears-economy

DDp recession on the way?
and euro is now topless.
If cable joits the party, then BANG !!!!

Inserted Video


Black October ?Anyone?
Seems the race is to see whose figs are worst?
Euro bad, Britain Bad, now US worst?
US is first again. Wooden spoon also is trophy?
Come on dam it, get proper administration.
  • #17,904
  • Aug 6, 2010 9:45am Aug 6, 2010 9:45am
scout 25 pips down
making green pips large and red pips small this is my goal.
  • #17,905
  • Aug 6, 2010 10:01am Aug 6, 2010 10:01am
scout down 41 pips.
That last move up was 163 pips.
wonder how far back down it will go.
dont think this scout gonna survive lol.
But at least mouse working again lol.
scout in right at top
making green pips large and red pips small this is my goal.
  • #17,906
  • Edited 10:33am Aug 6, 2010 10:04am | Edited 10:33am
Quoting paul1
scout down 41 pips.
That last move up was 163 pips.
wonder how far back down it will go.
dont think this scout gonna survive lol.
But at least mouse working again lol.
scout in right at top
Not much
Euro is topless and cable is getting there.
never surf against wave.
Scout is expandable, not your army. She should sit on the last top. Until we can find a new one.

) something wrong with me today
. I read the employment figs instead of NFP.
went short.
Lucky had the sense to flip, made back 10x what was lost.
  • #17,907
  • Aug 6, 2010 10:12am Aug 6, 2010 10:12am
second entry 1.32997 average= 1.33153
2 scouts
making green pips large and red pips small this is my goal.
  • #17,908
  • Edited 10:40am Aug 6, 2010 10:17am | Edited 10:40am
Quoting paul1
second entry 1.32997 average= 1.33153
2 scouts
Its very hot battles and you still playing with scouts?

but now is ok, is near NY lunch.
Fireworks or will tapper off, your guess.
For me, weekend had started.

I sure hope ben has more up his sleeves. Squeezeing hedge funds has its repercussions. Its taxing savings again?

Inserted Video


nice weekend
regards

Oh lets hope this doesn't happen. The exodus of funds?
Inserted Video


Best not change rules while the games are on.
Dangerous move.
Introduces too many wildcards.
  • #17,909
  • Aug 6, 2010 10:23am Aug 6, 2010 10:23am
got 2 scouts eur/usd small move back up.
Dont know is this continuation of upmove or retrace on the move down?
What do you mean by hot battles?
Its just done 160 pip move. I put scout in see if it continue or reverse.
Should I have done something different?
making green pips large and red pips small this is my goal.
  • #17,910
  • Aug 6, 2010 10:36am Aug 6, 2010 10:36am
Quoting fti
Not much
Euro is topless and cable is getting there.
never surf against wave.
Scout is expandable, not your army.

) something wrong with me today
. I read the employment figs instead of NFP.
went short.
Lucky had the sense to flip, made back 10x what was lost.
Wow ,fti, with so much slippage and requoting during the releases you managed to flip and catch up with PA.

Have a nice weekend everyone.
  • #17,911
  • Aug 6, 2010 10:43am Aug 6, 2010 10:43am
Quoting MyTbo
Wow ,fti, with so much slippage and requoting during the releases you managed to flip and catch up with PA.

Have a nice weekend everyone.
Easy Mytbo, The whole wall was coming at me.
Just had to turn tail, reverse and skew up and whack likes there's no tomorrow. And there was so much prices interbank. Many brave and now i presume dead heros.
Either that or stand there like a deer in headlights and get smashed?
No, la my ego is not that strong.) didn't even realised i read the wrong fig column until took in the loot. Was all the while thinking the whole world went crazy over a neutral fig. Got to get my glasses fixed over the weekend.

Like the old maxim. Its alright , sometimes we are wrong, but to stay wrong. It takes a fool. And thats more than i can say for some people, throwing $$$ out of helicopters.


regards.
nice weekend
  • #17,912
  • Aug 6, 2010 10:50am Aug 6, 2010 10:50am
took scouts out looks like descent retrace and london close soon.
see what happens around 50% retrace.
making green pips large and red pips small this is my goal.
  • #17,913
  • Aug 6, 2010 10:53am Aug 6, 2010 10:53am
Quoting paul1
took scouts out looks like descent retrace and london close soon.
see what happens around 50% retrace.
Whats at the 50 % retrace. two possibilities, Up or down from there, like every where else.. What so special about 50 %. Better be without all this mumbo jumbo superstitions. The probabilities at eveery level is 50 % up or down. See the real deal, not what you con your mind with.
What's worst than a superstitious mind is a rigid one.
  • #17,914
  • Aug 6, 2010 10:57am Aug 6, 2010 10:57am
Quoting fti
Whats at the 50 % retrace. two possibilities, Up or down from there, like every where else.. What so special about 50 %. Better be without all this mumbo jumbo superstitions.
Thanks for reply so you think best to leave scout in to determine direction and add to position as price starts to move back up?
making green pips large and red pips small this is my goal.
  • #17,915
  • Edited 11:10am Aug 6, 2010 10:59am | Edited 11:10am
Quoting paul1
Thanks for reply so you think best to leave scout in to determine direction and add to position as price starts to move back up?
a scout is very verstile.
He senses the terrain he is in. When the iron walls comes at him, He won't be a scout long if he stood ground , would he?Surely ther are some terrain to benefit from in standing ground.
But when ground sweels and every one that goes out gets cut down. Doesn't that tell you about whats out there?
Oh you may chose to charge up hill. Then you have to pay the cost, won't you?

Of course if you had unlimirted resources and and if you was the best in the world you can. But for every hero 100 similar ones gets wasted.
  • #17,916
  • Aug 6, 2010 11:08am Aug 6, 2010 11:08am
Ahh so take him out, and wait to enter new scout.
The reason i was thinking of new entry around 50% is that during this uptrend once its established top generally there has been at least 30%-50% retrace sometimes nearly 100% before continuation up. look at yesterdays action.
making green pips large and red pips small this is my goal.
  • #17,917
  • Aug 6, 2010 11:13am Aug 6, 2010 11:13am
Quoting paul1
Ahh so take him out, and wait to enter new scout.
The reason i was thinking of new entry around 50% is that during this uptrend once its established top generally there has been at least 30%-50% retrace sometimes nearly 100% before continuation up. look at yesterdays action.
you don't listen, just rigid thoughts only.
There can be a million variances there at your 50 %
the odds and probabilities is same there as any where else.
its your strategies that avail you to survive.

The more cock sure you are of the safety there the higher will be your chance that you be trapped there and scalped..

regards
  • #17,918
  • Aug 6, 2010 11:20am Aug 6, 2010 11:20am
Quoting fti
Easy Mytbo, The whole wall was coming at me.
Just had to turn tail, reverse and skew up and whack likes there's no tomorrow. And there was so much prices interbank. Many brave and now i presume dead heros.
Either that or stand there like a deer in headlights and get smashed?
No, la my ego is not that strong.) didn't even realised i read the wrong fig column until took in the loot. Was all the while thinking the whole world went crazy over a neutral fig. Got to get my glasses fixed over the weekend.

Like the old maxim. Its alright , sometimes...
You're "very fast as lightning" ... my profit today 13$ ... I waited "for the fish at the fishnet".
  • #17,919
  • Edited 11:35am Aug 6, 2010 11:22am | Edited 11:35am
Quoting Gro
You're "very fast as lightning" ... my profit today 13$ ... I waited "for the fish at the fishnet".
so fish soup for dinner?, my friend.
you didn't see that i nearly tripped on my face when tried to feel the top lately in the euro? Got out that one alive, but was scary. But by the grace of God, I got out that one near her bottoms. But seems some regidity creeping into my mindset, seeing these levels. Luckyly i am not afraid of hights. If she want shoot the moon. I'll comply.


regards

Ps: Oh thanks for the PM. Your credentials are marvelous. I hope everyone's happy with your performance.
  • #17,920
  • Aug 6, 2010 11:38am Aug 6, 2010 11:38am
Quoting fti
you don't listen, just rigid thoughts only.
There can be a million variances there at your 50 %
the odds and probabilities is same there as any where else.
its your strategies that avail you to survive.

The more cock sure you are of the safety there the higher will be your chance that you be trapped there and scalped..

regards
Thankyou,
My strategy is to go with the major trend.
Hence looking for opportunities to enter long.
As the 5 minute timeframe is showing price moving against the major trend and i am looking for entry long.
Iam not saying blindly enter at 50% just see what price does there and if it shows signs of move up enter scout.
Or would it be better wait for retrace on upward move for enter scout.
Or am i just totally not getting it.
making green pips large and red pips small this is my goal.
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