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Technical Analysis Fallacy

  • #20,581
  • Dec 9, 2010 4:01am Dec 9, 2010 4:01am
Hi Friends,

seems fti's teachings are showing some fruits:

Some of us are dancing the Varengold trading-challenge.

As far as I know all participants, that are following his teachings (and are posting here from time to time) are under the top 50 (out of 1000).

But there is still a long way to go....
It will end at the end of February next year.

But as Gro has mentioned this morning, cause they are using a risk-adjusted performance ranking, consistence pays off great....

Fti could be very satisfied with his teaching-success so far.
Maybe we can send him some "mental power" to solve his problems, this way ...

CU,
MaMood
  • #20,582
  • Dec 9, 2010 6:32am Dec 9, 2010 6:32am
Quoting MaMood
Hi Friends,

seems fti's teachings are showing some fruits:

Some of us are dancing the Varengold trading-challenge.

As far as I know all participants, that are following his teachings (and are posting here from time to time) are under the top 50 (out of 1000).

But there is still a long way to go....
It will end at the end of February next year.

But as Gro has mentioned this morning, cause they are using a risk-adjusted performance ranking, consistence pays off great....

Fti could be very satisfied with his teaching-success...
MaMood,

I'm only practicing past 2 weeks using fti's teaching and still profitable.
Of course it is demo account and a lot of mental issues automatically overcome (such as during rescue) as compared to using real account.
  • #20,583
  • Dec 9, 2010 6:48am Dec 9, 2010 6:48am
Quoting justht
MaMood,

I'm only practicing past 2 weeks using fti's teaching and still profitable.
Of course it is demo account and a lot of mental issues automatically overcome (such as during rescue) as compared to using real account.
Hi justht

Identify and distinguish what is "right thinking" and what is "your thoughts"(Egor)

Rgs
  • #20,584
  • Dec 9, 2010 8:58am Dec 9, 2010 8:58am
Quoting Gro
Hi justht

Identify and distinguish what is "right thinking" and what is "your thoughts"(Egor)

Rgs
I can't differentiate them.
I know "my thoughts" could consist "right thinking". But on what aspect it will enhance my trading experience?

thanks.
  • #20,585
  • Dec 9, 2010 10:43am Dec 9, 2010 10:43am
Quoting justht
I can't differentiate them.
I know "my thoughts" could consist "right thinking". But on what aspect it will enhance my trading experience?

thanks.
... "But you got to get out the scorpions that tells you what you must do when this happens , or that happens" ... understand or no?
  • #20,586
  • Dec 9, 2010 11:01am Dec 9, 2010 11:01am
Quoting Rufus
Some recent thoughts I had and thought this was a great thread to post them.
　
Recently I have been talking with my wife about how much I have learned about myself since I have started trading and spending so much time studying about the psychology of it. I am now convinced that if I had spent more time learning about me as opposed to learning about the charts my learning curve would have been much smaller. I placed my first trade in the stock market in 1998. Since then I have read everything I could get my hands on about charts, indicators,...
Hi Rufus

Welcome to the thread

Rgs
  • #20,587
  • Edited Dec 10, 2010 11:44am Dec 9, 2010 4:43pm | Edited Dec 10, 2010 11:44am
Quoting indianguyinny24
Thanks indianguyinny24
  • #20,588
  • Edited 6:30pm Dec 9, 2010 6:16pm | Edited 6:30pm

Inserted Video
!
Inserted Video

Inserted Video
  • #20,589
  • Dec 9, 2010 11:04pm Dec 9, 2010 11:04pm
Quoting Gro

http://www.youtube.com/watch?v=Dfvgv...ayer_embedded#!
http://www.youtube.com/watch?v=zlfKd...layer_embedded
http://www.youtube.com/watch?v=fgWFx...layer_embedded
Thanks Gro....


V
  • #20,590
  • Dec 10, 2010 9:28am Dec 10, 2010 9:28am
hi friends, I am glad that so many of you are doing well with FTI method... I truly believe in it... But i really can't get it right. I'm not sure what the problem is. If someone can be kind enough to PM me, and help me out, i will be eternally grateful Thank you and good luck guys!
  • #20,591
  • Dec 10, 2010 9:41am Dec 10, 2010 9:41am
Quoting nathaniel
hi friends, I am glad that so many of you are doing well with FTI method... I truly believe in it... But i really can't get it right. I'm not sure what the problem is. If someone can be kind enough to PM me, and help me out, i will be eternally grateful Thank you and good luck guys!
Hi Nathaniel

As a request the minimum u should do to help yourself is to read the 1st page 200 then if u have any questions u could post it there Or u could visit Dongsky thread to have a feel of how the very best dance.

http://www.forexfactory.com/showthread.php?t=237739

Just remember when u r riding the trend with the mkt to have the MRT jingle "Train is coming, Train is coming" playing @ the back of mind

Pip Well
"Thinking Heart & Feeling Brain"
  • #20,592
  • Dec 10, 2010 9:56am Dec 10, 2010 9:56am
Thanks for your reply... I did and in fact, I had 40 trades of consecutive wins.

But it took me one trade to wipe them out... Reason being my rescue team went in at the wrong time. Remember the week where euro plummeted because of ireland debt & its coalition problems? But I know that my MM for rescue team was terribly done, hence leading to the profits being wiped out. And i refused to cut loss because after 40 wins, my confidence was sky high as you can imagine.

However, what I am not sure about is that I was only making 20% or so per month, and I was afraid that I don't have enough scope or experience to be consistent for the next 10...20..30...40 years... I tried reading price charts bar by bar, it's good no doubt, but at the same time, using what is taught is kinda confusing because price moves so fast in M5, you don't really have time to analyze every single bar as it forms...

Anyone going through the same problem as me?
  • #20,593
  • Dec 10, 2010 10:48am Dec 10, 2010 10:48am
Quoting nathaniel
Thanks for your reply... I did and in fact, I had 40 trades of consecutive wins.

But it took me one trade to wipe them out... Reason being my rescue team went in at the wrong time. Remember the week where euro plummeted because of ireland debt & its coalition problems? But I know that my MM for rescue team was terribly done, hence leading to the profits being wiped out. And i refused to cut loss because after 40 wins, my confidence was sky high as you can imagine.

However, what I am not sure about is that I was only making 20% or so per month,...
Hi nathaniel

Sorry wrong I understand.
What you write is greed, you determine on the maximum loss per trade (e.g. loss as three times the average daily gain)

Rgs
  • #20,594
  • Dec 10, 2010 10:49am Dec 10, 2010 10:49am
i think at the start, i just tried to feel the market pulse by looking at topping and bottoming formation, looking at impulse and corrective wave and just by looking at M5 candles. Hardly paid attention to individual candles because I thought collective candles comprise "market form and structure" and basic chart patterns like double bottom, double top and h&s suffice.

I had relatively good progress at the start, collecting 30-40 pips, and maybe 50-60 pips if im lucky. However, I felt so contrived because 30-40 per trade does not make the constant monitoring worth the while.

And later on, it progressed to a point where i got it consistently wrong. I sent my scout in at the worse possible places. Buy at the top, and sell at the bottom. for example, i bought at the top on the week where euro plummeted because i saw a double bottom formation in m5... and i didn't cut loss because i was sure that it will go back up, like always... i had a very fixed mindset about the future based on my successful trades in the past.

And honestly, i'm not satisfied with 20% a month.... if i wanted 20% a month, i would do stocks... why trade forex when it does not give at least 100% a month?

I'm a confused trader.. haha
  • #20,595
  • Dec 10, 2010 10:50am Dec 10, 2010 10:50am
haha i like the train is coming tune...

mind if i ask how well you're doing with FTI's style of trading? I need some reassurance, so that I know i can continue in this direction...

Quoting Sylar
Hi Nathaniel

As a request the minimum u should do to help yourself is to read the 1st page 200 then if u have any questions u could post it there Or u could visit Dongsky thread to have a feel of how the very best dance.

http://www.forexfactory.com/showthread.php?t=237739

Just remember when u r riding the trend with the mkt to have the MRT jingle "Train is coming, Train is coming" playing @ the back of mind

Pip Well
  • #20,596
  • Dec 10, 2010 10:59am Dec 10, 2010 10:59am
hey guys, anyone getting a sinking feeling about the future of discretionary trading? The terrain seems to have changed with HFT and quant funds. I sincerely hope the market structure has not changed (Though change is the name of the game. In fact how do you keep track of the market structure without an insider?). If this is true, will the dance change? The attempts to reign in the market may decrease leverage in banks, and fx limits have been imposed in Korea this year. What's the future look like to your guys?

I am particularly worried about job prospects in the future for discretionary traders. Market makers are slowly being phased out by technology, and all the firms that are hiring in the fx market are essentially quant firms. The minimum requirements in terms of resumes is phd in quant field like physics ect (even a position as an MM asked for proficiency with stochastic calculus and modeling). At this time I am still in university so I am worried about breaking into the industry. Things feel changed and I'm tempted to turn on wind while I am young and still in college.

Thoughts?
  • #20,597
  • Dec 10, 2010 11:00am Dec 10, 2010 11:00am
Quoting nathaniel
haha i like the train is coming tune...

mind if i ask how well you're doing with FTI's style of trading? I need some reassurance, so that I know i can continue in this direction...
  • #20,598
  • Dec 10, 2010 12:03pm Dec 10, 2010 12:03pm
How very mature

Quoting Gro
  • #20,599
  • Dec 10, 2010 12:18pm Dec 10, 2010 12:18pm
check this out

http://www.forexfactory.com/showthread.php?t=237739

Quoting fullperson
hey guys, anyone getting a sinking feeling about the future of discretionary trading? The terrain seems to have changed with HFT and quant funds. I sincerely hope the market structure has not changed (Though change is the name of the game. In fact how do you keep track of the market structure without an insider?). If this is true, will the dance change? The attempts to reign in the market may decrease leverage in banks, and fx limits have been imposed in Korea this year. What's the future look like to your guys?

I am particularly worried about...
  • #20,600
  • Dec 10, 2010 12:30pm Dec 10, 2010 12:30pm
What exactly happened to the OP of this thread?
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