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Technical Analysis Fallacy

  • #18,781
  • Sep 8, 2010 11:59am Sep 8, 2010 11:59am
Just to be sure you have seen it:


Some of the JPY weakness this morning is being attributed to a rumor making the rounds that the BOJ has asked Japanese banks to prepare for possible fx market intervention tonight. Seeing how the BOJ has been full of nothing but hot air, and other byproducts recently, we are confident that nobody will buy it - traders now want action, not words. The brief spike in JPY crosses has been promptly regained. Furthermore, with new EURCHF record lows every day, we believe the likelihood of intervention in the Swiss currency is far larger, and we are surprised nobody is wondering how Hungary is doing these days, where the Forint has been in freefall, and domestic borrowers are about to embark on a...

http://www.forexfactory.com/news.php?do=news&id=255044

Disclaimer: Be aware of possible Cow Dung included ;-)
  • #18,782
  • Sep 8, 2010 12:22pm Sep 8, 2010 12:22pm
Hi again,

made some good profits today, but to be honest: It was a verry ugly start after several month of non trading. Made some real handling errors, because I mixed up some Hotkeys on my battlestation.
But the main problem was my lack of patience.
Traded too fast and as a result I had to handle much to bug positions ....

Not sure, if it is of any use, but here is the blotter of my afternoon session.
If you think I shouldn't publish it here for any reason, please let me know.
From my point of view, there is nothing secrete inside.
But of course you can see how ugly this session was.
Aja - I'm starting every session with a fresh 3000 EUR account. ;-)

Wish you all the best!
MaMood
Attached File(s)
File Type: pdf 2010-09-08_AfternoonSession_DetailedStatement.pdf   24 KB | 462 downloads
  • #18,783
  • Sep 8, 2010 1:14pm Sep 8, 2010 1:14pm
Quoting MaMood
Hi again,

made some good profits today, but to be honest: It was a verry ugly start after several month of non trading. Made some real handling errors, because I mixed up some Hotkeys on my battlestation.
But the main problem was my lack of patience.
Traded too fast and as a result I had to handle much to bug positions ....

Not sure, if it is of any use, but here is the blotter of my afternoon session.
If you think I shouldn't publish it here for any reason, please let me know.
From my point of view, there is nothing secrete inside.
But of...
Mamood

Nice Blotter.... whats your margin or leverage....

V
  • #18,784
  • Edited 1:35pm Sep 8, 2010 1:25pm | Edited 1:35pm
Quoting MaMood
Hi again,

made some good profits today, but to be honest: It was a verry ugly start after several month of non trading. Made some real handling errors, because I mixed up some Hotkeys on my battlestation.
But the main problem was my lack of patience.
Traded too fast and as a result I had to handle much to bug positions ....

Not sure, if it is of any use, but here is the blotter of my afternoon session.
If you think I shouldn't publish it here for any reason, please let me know.
From my point of view, there is nothing secrete inside.
But of...
"rotary machine gun" ... lightning fast ... best MaMood, congratulations

PS today for me E/U rescue and "zero"
  • #18,785
  • Sep 8, 2010 1:26pm Sep 8, 2010 1:26pm
Quoting MaMood
Hi again,

made some good profits today....
Out of curiousity, is there a reason you only trade UJ today?

Nice trading too.
  • #18,786
  • Sep 8, 2010 1:33pm Sep 8, 2010 1:33pm
Quoting Low
Out of curiousity, is there a reason you only trade UJ today?

Nice trading too.
his favorite "lady" for dance
  • #18,787
  • Sep 8, 2010 1:38pm Sep 8, 2010 1:38pm
Quoting Gro
his favorite "lady" for dance
Fair enough.

I used to only trade EJ during Asia. Back before I knew anything. Did alright for being an idiot.

Now my belief that I know things gets in the way. LOL.

Learning isn't the same thing as getting smarter.
  • #18,788
  • Sep 8, 2010 1:46pm Sep 8, 2010 1:46pm
Quoting Low
Out of curiousity, is there a reason you only trade UJ today?

Nice trading too.
Hi Low,

as Gro has answered already: She is my one and only :-)
Have not traded any other pair since I have strated to follow fti's teachings. So I know her very well. Means I know all relevant market influences, where to find the relevant news and so on ...

CU,
MaMood
  • #18,789
  • Sep 8, 2010 1:48pm Sep 8, 2010 1:48pm
Quoting indianguyinny24
Mamood

Nice Blotter.... whats your margin or leverage....

V
Hi Vick,

I'm trading a 200:1 account funded with fresh 3000 EUR every trading session.

How are you doin?
  • #18,790
  • Sep 8, 2010 1:51pm Sep 8, 2010 1:51pm
Quoting Low
Fair enough.

I used to only trade EJ during Asia. Back before I knew anything. Did alright for being an idiot.

Now my belief that I know things gets in the way. LOL.

Learning isn't the same thing as getting smarter.
hmmm "nice nick"
  • #18,791
  • Sep 8, 2010 1:53pm Sep 8, 2010 1:53pm
Quoting MaMood
Hi Vick,

I'm trading a 200:1 account funded with fresh 3000 EUR every trading session.

How are you doin?

I am doing good... just have to factor in my office time...apart i am positive..

Nice to see your power dance... sure do some rough edgess....rest i am sure u know very well....

V
  • #18,792
  • Sep 8, 2010 2:00pm Sep 8, 2010 2:00pm
Hey MaMood,

Thanks for posting the session results. It's interesting. You do have fast fingers.

I want to go look at some trades and compare them to my charts. What timezone is your br0ker/statement ??
  • #18,793
  • Sep 8, 2010 2:25pm Sep 8, 2010 2:25pm
Quoting Price
Hey MaMood,

Thanks for posting the session results. It's interesting. You do have fast fingers.

I want to go look at some trades and compare them to my charts. What timezone is your br0ker/statement ??
Hi Price,

as far as I know I'm GMT+1 here in germany.
The same is true for my broker, who is responsible for the Timstamps in my blotter.
Hmmmh - to study my trades will be a little difficult I guess. There are some special MO's, that I'm using, when I want to enlarge my margin. So please ignore the opening of large positions in the opposite direction of my main trades. These positions are closed within the same minute again. ....

Hmmh - the best is you ask, whenever there is something "magic" or "mystic" to you.

CU,
MaMood
  • #18,794
  • Sep 8, 2010 3:06pm Sep 8, 2010 3:06pm
Thanks MaMood,

ok, Here's what I think I figured out. i.e. timezones:

Right now it is 16:00 New York, 23:00 GMT, and 22:00 MIG

I like what you're doing. I mean the results are like 50% but I like the means too. In and out. Low spread....

I usually trade PoundYen and Pound. I look at usd/jpy but don't usually trade it. I'm going to look into this.

So, thanks again.... (if my timezones above are wrong, pls let me know)
  • #18,795
  • Sep 8, 2010 3:15pm Sep 8, 2010 3:15pm
Am new to this Forum, but have been trading using naked charts and PA for about 18 months, The knowledge imparted here by various people is truly invaluable
  • #18,796
  • Sep 8, 2010 5:50pm Sep 8, 2010 5:50pm
Hey MaMood, glad to have you back. You have been missed. Good trading my friend.
  • #18,797
  • Sep 9, 2010 12:14am Sep 9, 2010 12:14am
Chart says it is down... and then comes this news....


http://online.wsj.com/article/SB1000...321544212.html



V
  • #18,798
  • Sep 9, 2010 2:52am Sep 9, 2010 2:52am
Good Morning Friends!

I'm a little late today.
Missed London opening.
HAve to do my chart work now and check for relevant news.

@All: Thanx for the warm welcome :-)
Glad to be still a member of TAF Family

CU later,
MaMood
  • #18,799
  • Sep 9, 2010 2:57am Sep 9, 2010 2:57am
Quoting indianguyinny24
Chart says it is down... and then comes this news....


http://online.wsj.com/article/SB1000...321544212.html



V
I read this news in Czech.I'm really confused.

"Investors from the USA to Hitler borrowed arms.Now they want your money back.
7.9.2010 MIAMI - A group of U.S. investors challenged the action in the courts in Miami, New York and Chicago, the German government and calls after the repayment of bonds issued by Germany in the period between two world wars. Today's value of outstanding debt could reach hundreds of millions of dollars, today wrote agency AP."
  • #18,800
  • Sep 9, 2010 3:32am Sep 9, 2010 3:32am
Quoting Price
Thanks MaMood,

ok, Here's what I think I figured out. i.e. timezones:

Right now it is 16:00 New York, 23:00 GMT, and 22:00 MIG

I like what you're doing. I mean the results are like 50% but I like the means too. In and out. Low spread....

I usually trade PoundYen and Pound. I look at usd/jpy but don't usually trade it. I'm going to look into this.

So, thanks again.... (if my timezones above are wrong, pls let me know)
Hi Price,

seems your timezones are correct.
I'm always using this map, when I'm not sure about timezones:

http://www.weltzeit.de/zeitzonenkarte.php

CU,
MaMood
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