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Technical Analysis Fallacy

  • #18,021
  • Aug 11, 2010 5:50pm Aug 11, 2010 5:50pm
Quoting fti
these markets are my babies.
unless i stop breathing, I'll be there.
How do you rid 30 years addiction? Is worst than the wagon.
Haven fallen off the wagon for long long time already.
Anyway , the $$$ makes it right?
OK , now only 1 eye open.
Just got myself loads of cheap usd.
Think I 'll spend some tom.
good luck and good health.
39 trades today ,lost 2 scouts, 37 profitable trades.

thankyou Fti.

Could have been a lot less trades with same profit but am not confident enough to let profits ride.
Maybe that will come with experience.
Good day really cause eur/usd didnt really retrace much just slid down all day.
making green pips large and red pips small this is my goal.
  • #18,022
  • Aug 11, 2010 6:56pm Aug 11, 2010 6:56pm
Quoting fti
i have friends watching grave yard shifts.

seems knee jerk on stops.
Tom would be interesting day
Bet tokyo starts early.
they probably already in, in their PJs
Chief,

How much u sleep...???

V
  • #18,023
  • Aug 11, 2010 7:13pm Aug 11, 2010 7:13pm
Quoting indianguyinny24
Chief,

How much u sleep...???

V
Just slept a little and the the stops fiasco.
nevermind, I am good until saturday. But will nap between the lulls.

Watch carefully
Market driver is yen crosses.
there heaps activity there.

regards
  • #18,024
  • Edited 8:06pm Aug 11, 2010 7:36pm | Edited 8:06pm
going for dinner....made some money from yen being on wrong side...


tooked the blotter out...



V
  • #18,025
  • Aug 11, 2010 9:34pm Aug 11, 2010 9:34pm
Quoting fti
Something derailed, my friend?
regards
No everything's fine, thanks for asking. Just thought I saw a potential wreck from some of the posts.

regards,
  • #18,026
  • Aug 11, 2010 11:00pm Aug 11, 2010 11:00pm
This if from Philip Ng from facebook... i forgot his username here...it was a comment made for his brother about running...


" Running is all MENTAL... U against U... It just like a reflection of life... We all run our own race... Fast or slow doesn't matter as long as we reached our destination... U have nothing to prove"

just wanted to share...


V
  • #18,027
  • Aug 12, 2010 3:02am Aug 12, 2010 3:02am
This eur doesnt know what to do.
3 days down.
But now since last night its been going up.
the sentiment here is 60/40.
throw be a bone lol.
See if i can get some news as to whats happening.
making green pips large and red pips small this is my goal.
  • #18,028
  • Aug 12, 2010 4:17am Aug 12, 2010 4:17am
Today I was quicker than I thought! ... and I wanted
  • #18,029
  • Aug 12, 2010 4:24am Aug 12, 2010 4:24am
My day off and dance the London session...man it's soooooooo sweet... Bled the entire session of every pip and I'm up by 13%...oh yeah! Took out scouts for the moment for a starcraft break to empty the mind and be back maybe NY again or If I see a clearer direction but I doubt anyone who got into the bus will be back immediately. Thanks fti and also to dongsky!
  • #18,030
  • Aug 12, 2010 4:45am Aug 12, 2010 4:45am
Quoting paul1
This eur doesnt know what to do.
3 days down.
But now since last night its been going up.
the sentiment here is 60/40.
throw be a bone lol.
See if i can get some news as to whats happening.
what for? try to trade what you see in the charts and not what you read or hear.

watch out for BOJ.

have fun,
  • #18,031
  • Aug 12, 2010 5:03am Aug 12, 2010 5:03am
Guys seems like masive banks buy of dollars now in london sessions. Back to safe heaven again or wat. I missed the massive move on EU, so I could just put my scout at 1.292
  • #18,032
  • Edited 5:23am Aug 12, 2010 5:10am | Edited 5:23am
Quoting mijamoto
Guys seems like masive banks buy of dollars now in london sessions. Back to safe heaven again or wat. I missed the massive move on EU, so I could just put my scout at 1.292
Quote from Dow Jones: "Risk appetite has suffered significantly in the past 24 hours, says Gareth Berry at UBS."

I would watch the Dow. European stocks slowly sinking in red already.
  • #18,033
  • Aug 12, 2010 6:07am Aug 12, 2010 6:07am
Quoting piccolo
what for? try to trade what you see in the charts and not what you read or hear.

watch out for BOJ.

have fun,
Must admit to being a bit cross eyed at moment.
What I see:-
1)Been in uptrend for some weeks
2)Now in downtrend for 4 days
3)But since i logged off yesterday been continous move up about 10 hours worth.
Appreciate the comment but this was what i saw.
To be honest I ,like most on this forum, could not settle on a strong bias.
You say" trade what you see" could you possibly expand on this please .
It's a little irritating as I do tend to trade with my eyes open unless its really late an I'am tired.
If you can't expand on your comment I'll just take it as an attempt to look superior.
Thankyou in anticipation of a constructive response.
making green pips large and red pips small this is my goal.
  • #18,034
  • Aug 12, 2010 6:22am Aug 12, 2010 6:22am
Quoting paul1
Must admit to being a bit cross eyed at moment.
What I see:-
1)Been in uptrend for some weeks
2)Now in downtrend for 4 days
3)But since i logged off yesterday been continous move up about 10 hours worth.
Appreciate the comment but this was what i saw.
To be honest I ,like most on this forum, could not settle on a strong bias.
You say" trade what you see" could you possibly expand on this please .
It's a little irritating as I do tend to trade with my eyes open unless its really late an I'am tired.
If you can't expand on your comment I'll just...
one picture is worth a thousand words
Attached Image
  • #18,035
  • Aug 12, 2010 6:43am Aug 12, 2010 6:43am
Quoting paul1
Must admit to being a bit cross eyed at moment.
What I see:-
1)Been in uptrend for some weeks
2)Now in downtrend for 4 days
3)But since i logged off yesterday been continous move up about 10 hours worth.
Appreciate the comment but this was what i saw.
To be honest I ,like most on this forum, could not settle on a strong bias.
You say" trade what you see" could you possibly expand on this please .
It's a little irritating as I do tend to trade with my eyes open unless its really late an I'am tired.
If you can't expand on your comment I'll just...
By the time you read what's happening it's over or too late to use the info for profit and usually someone trying to report an opinion as fact, as it's their job to put a spin on the days activity........

Pick a timeframe that suits you and your book and trade it, if it's going up buy weakness (dips) if it going down, sell strength (rallies) determine your criteria for trend determination and trade with it till it says differently, you don't need to know why, as most of the time said reports are a ruse and reported for a ulterior motive... most of the time you will find that you're ranging, trading the range is different so you need to be able to look at a chart and understand the market.

In essence trading is very simple, keeping your own opinions out of the equation, most have the hardest time.... the market's actions, hip/lop, volatility, leg distance, time of day and relation of time to current and future news announcements......... all will determine your actions in relation to your current average vs. market.

Up to you to put the pieces of the puzzle together so that it makes a picture you understand.

fwiw
  • #18,036
  • Aug 12, 2010 7:28am Aug 12, 2010 7:28am
Battlestations
  • #18,037
  • Aug 12, 2010 7:42am Aug 12, 2010 7:42am
Quoting auxesis
By the time you read what's happening it's over or too late to use the info for profit and usually someone trying to report an opinion as fact, as it's their job to put a spin on the days activity........

Pick a timeframe that suits you and your book and trade it, if it's going up buy weakness (dips) if it going down, sell strength (rallies) determine your criteria for trend determination and trade with it till it says differently, you don't need to know why, as most of the time said reports are a ruse and reported for a ulterior motive... most...
As usual thanks for setting me straight http://cdn.forexfactory.com/images/icons/icon14.gif
making green pips large and red pips small this is my goal.
  • #18,038
  • Aug 12, 2010 7:59am Aug 12, 2010 7:59am
I was away for one and a half days and the whole world decided to go to hell and back, LOL
Massive derisking across the board with gold spiking again. This shit is serious. Seems Ben will have to fire up the helicopter big time as The Street is already covered in blood and economy doesn't look very bright either with unemployment obviously out of control. Lots of Lamborghinis will be repossessed after this week
  • #18,039
  • Aug 12, 2010 8:04am Aug 12, 2010 8:04am
Happy trading day to everyone. Just stopping by while the market sorts out the initial jobless claim number to say hi, and glad to see the thread is so active. Paul1, stay focused and listen to fti and traders like auxesis. It takes time but with hard work, it will start making sense one day. Trade well everyone!
  • #18,040
  • Aug 12, 2010 8:15am Aug 12, 2010 8:15am
non event, market letargy.
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