Technical Analysis Fallacy

Aaahh Gold.....


,

Just for info:

Large EUR/USD 1.3450 Expiry Today

Nearby option expirations today include vanilla USD/JPY 82.00, 83.00 (so-so large), EUR/USD 1.3450 (E750 mln), 1.3650 and AUD/USD 0.9850 and 0.9910 strikes. USD/JPY 84.00 KOs also still in play, defensive offers ahead, large stops above. (hi)
Copyright 2010 Thomson Reuters - IFRMarkets

Disclaimer: Be aware of possible Cow Dung included ;-)

Hi MaMood

I also re-study (I trying to quit smoking=nervous I can not trade)

Thanks
Rgs

Pearls of the page 321:
"I think for people with no positions, spare yourself the torture."
... "The challenge, fear vs greed vs ego vs skillful."

Well - this is a thingy I have to work hard on. I'm using a lot of S/R levels. And indeed I#m not very skilled in riding the wave down ...

fti:

Hi auxesis,
That which marked in red.
Wrong frame of mind.
Stay relaxed, if the retracement comes then react to it,
Otherwise DO NOT THINK about it. Just Flow.

This is where most of the traders fail in.
Thats why traders must have multiple levels and strategies.

The mistaken frame of mind of small traders, is when their positions are in profit, they start looking for take profit levels. and then the frame of mind inhibits their ability to ride.

For position traders ( term positioning), they have the right frame of mind, after positioning profitabily, they put stop loss order and allow the position to ride, using the stop loss as their thinking mechanism. In this MO, they mostly fail due to their inattentiveness to the market, so they do not baby sit their positions and are non reactive to changes , therefore mostly let their profits get eroded from them.

Thinking retracements in a trend ride, paralyses the traders ability to analyse and strategies. Mostly due to their frame of mind being stingy.

This create bad mindset.

regards

To be found here: http://www.forexfactory.com/showpost...postcount=5286

Hi Gro,

my deepest respect for trying to stop smoking.
It is a hard way, but it is worth trying it!

All the best!

Niels

Thanks MaMood

it is hard on my psyche, but must unlearn "old bad habits" (similary, like to change old bad habits in mindset of the trader).
We'll see how I can handle it but I have several attempts ...

Rgs

PS very important post MaMood 3,094 Posts

just don't quit quitting... one day you will succeed... miracles works in mysterious ways sometime goodluck!

Hi dongsky and thanks ... one day you will succeed ...

possible answer
"Thats much better, King or not, you dance her.

You see, auxesis,
The reason for me giving all this away to non institution players, is cos' , these days far east have lost most of their good market makers and traders.
Compared to my hot days, there were so many of us around.

After some rogue trading by the wannabes, there is so much red tape and risk management imposed on the newer generation of TMs and dealers that, most of the good skills are being lost. This is because , the new generation of dealers only does trades back to back on exposures to protect their behind.
As we move forward, they will become obsolete.

I look forward that , the market players may carry the ability to trade , the traditional way in the future. It looks like the treasuries are being overun by college managers and bookworms. I don't see many that can carry the job.

Let see if the traders who trade their own portfolios, can carry the batton.

This is not meant to insult anyone, but just think what type of mindset a traders carries, when long the dollar bit thinking retracement. The only thing that it will do is to make you nervous on every quote flash.
How much of that jumpyness can you absorb before you start making nervous trade decision?

Can a nervous trader ride moves?
Can a nervous trader think and strategies?

It was very wise traders, who commented in some writings, that the reasons why they are profitable is because they DO NOT listen to a lot of junk that is circulated in the marketplace.
They seek facts and they think and strategise for themselves, instead of depending on the propaganda.

Skillful traders do not talk market, they lISTEN to market not traders.

One of the best methods is to watch her footprints in price charts and being aware of the driving fundamentals that may pose dangerous to book."

"Hi All,
many request for me to comment on your rigidities.
I am sorry, there is much mis-communications.

When Have i ever presented to cut after 100 pips and the likes.
You want to be rigid , then its your choice.

I said dance the rhytym, then apply appropriate MM.

Some of you are so engrossed with levels , I can't see How you can dance.

And also David is so worried about levels that he can't dance.

Look I took profits of my Eur yesterday at 1.4855
then I went short Eur again after that at 1.4830.
So am I stupid or what?
Later I appied attack seq at 14810/15 zone.
Guess where I took profits.

Why you people so rigid?
I tell you why, you people have little conidence of you ability to dance.
It is that which you need to focus, not the MM. The MM is only a tool to help yourposition average. You dance bad, and you average to the poor house."

and as we come back to e/u 3529, do we get a push up or back down ?
lets see.
a/u 9763 noted.

hard training :
"Hi jest,
Very easy problem to solve.
Just stop the greed, until you have mastered the skills and mindset required.
Start your trading , very very very small and practise your skills.
Make the 2 cts, 5 cts, $1, $5 and you will SLOWLY find your benchmark.
You may take like 5 to 8 year to get good at it.
So it is sucidal to try to emulate me, I am beyond pains.

Every body wants to be champion trader, but champion traders take a lomg long time to train.

Put in the wood first before you get the heat.

You see many of you have never seen this side of your emotions and capacity, the (virgin) traders that thinks that they can steal a glimpse of what I do and try to emulate that in live trading. I assure you I have their testimonies, they turn rouge traders , without the proper perspective and mindset. So be forewarned.

Trust me, follow my advice deligently. Learn, you are bound to make mistakes,but learn from them when its manageble for you. Even I make mistakes sometimes, but I have the capacity to recover, DO YOU?

Hi Lusan

I think you may be more tired than the Bull.

Get a good change this weekend. Relax, Stay away from market talks and go unwind, Come back next week, fresh and then dance her.

Why can't you stop imposing your thoughts on her? Why.
Let her tell you.
No more intelligent talk about her, just feel her and follow as best you can.
You got too much experience, on the hangup side.
Your need is to feel her pulse, Don't go telling her what her pulse is, let her tell you.

Please correct this , otherwise ,this is an impass.

And if you insist to use indicators for feel, then OK, you're on your own. Don't expect support from me for that.

If you think I am angry, let me tell you I am.
When you first started on the thresd, I had great hopes for you. You were fast, even faster than I , you paced her, you were dancing.

Now you talk like all the book trained traders, you talk market junk, you ask too much questions instead of dancing it.
And why the change, just becuse you now trade for longer periods, you changed you whole mindset and MO. Frankly, from your new postings, I think you lost it.

Don't believe me, reread your own journal.
See if its the same you. You have nmatured , only to the dark side."

Managed to enter the move on EU near at its low today.
Was scaling in, while going down, so that I'm in now very heavy loaded.
Guess that could become one of my best days till trading FX

gro,
I was trying to keep bias in check
as it is up from 3415 for this quarter
up from 3495 considering weekly.
up from 3529 today

weekly
4203
3936
3495

hoo-ray just a few more years.

http://www.forexfactory.com/showpost...postcount=5422

"Isn't this the foundations of the dow theory?
What is the dow theory?
So what are sma,ema,cma,macd, stocastics,rsi, .....what are they?
these are tools to benchmark change.
What are these indicators benchmarked to?
What is the point of reference of these indicators?
They are rigidly benchmarked to a chosen parameter.
Which parameter is most reflective of the market?

Isn't this technical Analysis?
Nowadays , Technical Analysis has become rigidity, because people become too egoitical, their parameter is always correct.
The truth is that the markets parameter is always correct.
The one you use is most familiar only to you.

Price contains all, your parameter and lines are only rigidity, a creation of your minds limitations.
To see from birds eye view from inside a self created box is nonsense.Talk about thinking outside the box.http://cdn.forexfactory.com/images/s..._the_floor.gif how delusional can people get. Small minds trying to do great things.
I don't even want to talk about the other stupid indicators that people had invented. Esp, those that are used to FORECAST.
The rigid, trying to forecast dynamics.
Talk about intelligence and stupidity.rofl:
And about gullibility.

regards:

Do you know how heat seeking missiles work, and how they are circumvented?
Do you know the difference between heat-sm and vfrm?
If you don't, here's a quick lesson, One smells my fart, the other has a little intelligence.
From this I can tell an analyst from an indicator junkie.

Then of course , I haven't spoken about those , rigid in their pattern analysis. that, needless to say they go into the same pot."

Big day?

scaling back, eyes open e/u 3592 area.

along with 3 kingdoms watching a/u 9845-55 area.

dutch angel,
hope all is well, good to see ya around, happy anniversery .

looks like the girls are in there places, is that g/u movin first ?