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Technical Analysis Fallacy

  • #19,961
  • Oct 28, 2010 10:54am Oct 28, 2010 10:54am
Quoting MaMood
Hi Baifu,

of course you are right.
It is not easy to feel the momentum and to get not fooled by false break outs.

I'm still pondering about how to get it organized:
Will do a kind of live trading session let's say every thursday or so. But have still no final tool and idea, how to let you see, what I see. And not to waste to much time with typing my thoughts.
I'll keep you informed as soon as I have found a solution ....

The idea is to show you, that it is not too difficult to judge the market, when you have the right information respectively...
MaMood I would be very interested in joining the live session if allowed. There's a webinar tool called "go to meeting" that allows you to share your screen and everybody sees whatever your screen shows, and you can talk and we would listen and talk back to you via a chat box (type in the questions and answers).
Just a thought. Thanks for taking charge.
Alex
If only I knew then what I know now...
  • #19,962
  • Oct 28, 2010 11:12am Oct 28, 2010 11:12am
Quoting Alexgee
MaMood I would be very interested in joining the live session if allowed. There's a webinar tool called "go to meeting" that allows you to share your screen and everybody sees whatever your screen shows, and you can talk and we would listen and talk back to you via a chat box (type in the questions and answers).
Just a thought. Thanks for taking charge.
Alex
Hi Alex.

Thanx your input.

Will check it out.
My problem is "compressing" my 6 screens to only one ...
Means I have to take a useful selection.
But that finally means, that are once again not able to see what I see, when trading ....

I'll find a useful compromiss I gues.
But it'll take some time .....

Cu,
MaMood
  • #19,963
  • Oct 29, 2010 1:20am Oct 29, 2010 1:20am
wow MaMood, it looks like you are about to take us who are struggling to a new level. really appreciate your time and effort. thx/Kev
  • #19,964
  • Oct 29, 2010 1:32am Oct 29, 2010 1:32am
Good Morning Friends!

Just for info:

TOKYO (Dow Jones)--The yen gained against the dollar and euro in Asia Friday on buying by Japanese exporters for bookkeeping purposes at the end of the month, keeping the currency near a 15-year high against the greenback.
The continued yen strength comes as Japanese government data Friday showed deflation tightened its grip on the economy. The strong yen, which makes Japanese products less competitive overseas, was also behind a fall in industrial production, suggesting Tokyo may face increasing pressure to again intervene in the market to tackle the runaway currency.
(...)

Disclaimer: Be aware of possible Cow Dung included ;-)
  • #19,965
  • Oct 29, 2010 1:41am Oct 29, 2010 1:41am
First time after a long periode I read about "save-heaven-flow" in the news again. -> JPY is one of the save-heaven currencies ....
  • #19,966
  • Oct 29, 2010 2:00am Oct 29, 2010 2:00am
EURJPY is attacking an important support atm.
Would generate some downside momentum, when it goes broken ...
  • #19,967
  • Edited 2:29am Oct 29, 2010 2:09am | Edited 2:29am
Have deployed EU and GU short scouts ....
But have EJ still on my radar. The mentioned break may change situation.

09:18 - Waiting. Nothing is showing up. situation with DOW/DAX/equities not clear yet ..
09:24 - still the same. GU scout slighlty positive, EU slightly negative
09:26 - and no relevant news this London morning. Curious what will initiated any action then ...
09:27 - EJ begins to move down ...
09:28 - GU wants to test 1.59 level. BTW: my local time is GMT+2
09:29 - EJ stopped again
  • #19,968
  • Oct 29, 2010 2:23am Oct 29, 2010 2:23am
Hey, MaMood you're doing great work keeping the thread up and going. You've brought up some constructive discussions and I want to thank you.
I find it hard to keep up with the thread due to work and other issues. Usually I get some time for trading, but not for posting and discussing with you guys

Occasionally I get into small skirmishes on the 5m, but most of the time I'm positioning myself strategically for long rides with small exposure and little baby-sitting. I've entered a trade on EUR/USD that I intend to keep untill the end of the year minimum, it was 330 pips in profit and came to 0, and now it is up in profit again . I have some other long trades on EUR/USD that are manged from a far.

I don't know if I have had a change of luck or a change of mindset, but the last 2 moths have been surprisingly profitable for me. It's great to see how trades go in your direction, without too much stress and fear.

Regards and good trading to all, MyTbo
  • #19,969
  • Oct 29, 2010 2:33am Oct 29, 2010 2:33am
09:32 - preparing L2 attack on GU. Have to wait if PA gets rejected at 00 level
09:34 - seems the 3 kgds are getting in sync now, at least for last few M1 bars. It'S an indication for me to be alerted and prepared. Does not mean, that it wants to go in my direction, but that the probalilities to see any direction is increasing ..
09:37 - attention
09:39 - GU L2 @5898
09:40 - Watch EJ! It is leading the show...
09:41 - GU L2 out @5893
  • #19,970
  • Oct 29, 2010 2:41am Oct 29, 2010 2:41am
Quoting MaMood
09:32 - preparing L2 attack on GU. Have to wait if PA gets rejected at 00 level
09:34 - seems the 3 kgds are getting in sync now, at least for last few M1 bars. It'S an indication for me to be alerted and prepared. Does not mean, that it wants to go in my direction, but that the probalilities to see any direction is increasing ..
09:37 - attention
09:39 - GU L2 @5898
09:40 - Watch EJ! It is leading the show...
NICE!
  • #19,971
  • Oct 29, 2010 2:43am Oct 29, 2010 2:43am
09:42 - GU L2 prepared again. But need down of EJ first ...
09:43 - attention on EU
09:45 - EJ does not want to give the "Go"
09:47 - restest of 1.59 on GU. The next few seconds/minutes are very intersting then ..
09:49 - checking M1, M5, M15 for 3 Kgds, Except UJ the two other seem to trend down ...
09:50 - GU showing stzrenght agian (long wicks and dynamic on M1 and M5). But I leave scouts in till there is a clear change in trend at least on m15
09:51 - all scouts out! EJ and GU and EU are reversing ... (And I have to visit the rest room urgently ;-)
  • #19,972
  • Oct 29, 2010 3:03am Oct 29, 2010 3:03am
Back again with a fresh cup of coffee.

That little session has made me 452EUR profit.
(Hmmh - I do not post this number because I'm on my ego-trip, but I was always very much missing such an info, when fti and other seniors are showing their blotter. I have always asked me: Will it be enough for a living to trade this way. Now I know - Yes it can!)

Will end my public session now, becuase it is very exhausting for my mindset to type all this info in nearly realtime. As I have said, I'm looking for another solution to do live sseions in the fruture ....

CU,
MaMood
  • #19,973
  • Oct 29, 2010 3:05am Oct 29, 2010 3:05am
Well done Mahood. I have just put a scout in short EUR/USD at 1.3864 Lets see if it wants to go below 1.3850 Ray
  • #19,974
  • Oct 29, 2010 3:13am Oct 29, 2010 3:13am
BTW: Thanx for all your motivating and encouraging comments during the past few days.
Will try to give a little back, that fti his given to me ...

Glad that it is of any use to you :-)

Niels
  • #19,975
  • Oct 29, 2010 3:16am Oct 29, 2010 3:16am
Quoting 1234
Well done Mahood. I have just put a scout in short EUR/USD at 1.3864 Lets see if it wants to go below 1.3850 Ray
Hey cool Ray!

While M5 and M1 candles looking really great for adding to your position, be careful in doing so, cause we are facing a support area and EJ is not very supportive atm.
So you have to be very nimble or just let your scout ride down till you see the first signs of Strength in EU.
  • #19,976
  • Edited 3:58am Oct 29, 2010 3:47am | Edited 3:58am
Just a short addon to my posting to1234 ...

That is the way I would have added to the position again.
Finally based on the development of the chart only.
It seem to easy, when the candles have formed already in hindsight.
But it is easy too, when you see the dynamic of the forming candles ...

It shows EU M5 chart of London morning session.
.
.
.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-29_EU_London2.jpg Size: 79 KB
  • #19,977
  • Oct 29, 2010 4:03am Oct 29, 2010 4:03am
Quoting MaMood
.............

As I have said, I'm looking for another solution to do live sseions in the fruture ....

CU,
MaMood
Hey MaMood,

Firstly just a few words about myself, this being the first post in here, I'm a full time trader, mainly I'm a swing and position trader but scalping in between whenever opportunity arise.

I'm in lurking mode from some time reading through the thread, and what is appeling for me is the fti's mindset approach, which is similar with the principle I was taught.

Regarding to your request, have a look at Netviewer, they allow to share your desktop, share files...and many other facilities. I have participate on many live sessions with this software but only as a guest never an admin.
Just to make it clear I'm not affiliated with them.

PS: Congrats for your achievements from current session

all the best!!
  • #19,978
  • Oct 29, 2010 4:17am Oct 29, 2010 4:17am
Quoting triger88990
Hey MaMood,

Firstly just a few words about myself, this being the first post in here, I'm a full time trader, mainly I'm a swing and position trader but scalping in between whenever opportunity arise.

I'm in lurking mode from some time reading through the thread, and what is appeling for me is the fti's mindset approach, which is similar with the principle I was taught.

Regarding to your request, have a look at Netviewer, they allow to share your desktop, share files...and many other facilities. I have participate on many live sessions with...
Hi,

thank you very much.
Have done the registration right now and will give it a try this afternoon.

BTW: Welcome to the TAF family!

Wish you good fortune with your trading!
MaMood
  • #19,979
  • Oct 29, 2010 4:23am Oct 29, 2010 4:23am
Quoting triger88990
Hey MaMood,

Firstly just a few words about myself, this being the first post in here, I'm a full time trader, mainly I'm a swing and position trader but scalping in between whenever opportunity arise.

I'm in lurking mode from some time reading through the thread, and what is appeling for me is the fti's...
Thank you for the recommendation of NetViewer. It does look nice and its free for personal use.

It allows you to invite Skype contacts..
  • #19,980
  • Oct 29, 2010 4:26am Oct 29, 2010 4:26am
Quoting piccolo
Thank you for the recommendation of NetViewer. It does look nice and its free for personal use.

It allows you to invite Skype contacts..
Hi Piccolo,

do you know it already?
Any experiences?

Niels
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