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Technical Analysis Fallacy

  • #21,281
  • Jan 5, 2011 7:43am Jan 5, 2011 7:43am
Quoting MaMood
Hi,

I use equities is a synonym for the Stcok market.
There I'm watching DAX (German index) in early London session and switch over to DOW during NY session.
Wathcing the equities is an add on to my 3 kgds ...
well, u have many weapons to use in your battle hehe
  • #21,282
  • Jan 5, 2011 7:44am Jan 5, 2011 7:44am
Quoting fti
ok i think i take a rest.
Today i am not in sync at all.

CU.
thanks for your support
and nice relaxation
  • #21,283
  • Jan 5, 2011 7:44am Jan 5, 2011 7:44am
Quoting MaMood
Hi,

I use equities is a synonym for the Stcok market.
There I'm watching DAX (German index) in early London session and switch over to DOW during NY session.
Wathcing the equities is an add on to my 3 kgds ...
Me, not focused.
Too much personal feeling.

but becareful of too many cooks, can spoil the soup.

regards
  • #21,284
  • Jan 5, 2011 7:56am Jan 5, 2011 7:56am
Quoting fti
Me, not focused.
Too much personal feeling.

but becareful of too many cooks, can spoil the soup.

regards
gospel truth,
... I will
  • #21,285
  • Jan 5, 2011 8:37am Jan 5, 2011 8:37am
Happy trading day everyone! Great way to start the new year with lots of good conversation, lead by fti! Have enjoyed reading the comments today so I thought I'd jump in, too. Good trades today on the E/$ and have exited two trades and holding one open for a bit longer. FA in about 26 mins so caution now. Might add to my lone position again at about 3165'ish. Good trading everyone!
  • #21,286
  • Jan 5, 2011 8:50am Jan 5, 2011 8:50am
Quoting fti
well, good for you.

So I could be wrong, but seems smokers never ever really can kick it. Every smoker, in their life will attempt quit, some many times. But no one succeeded totally to do so.
How true. My dad despite numerous heart ops and stroke relapse never really managed to kick the habit. Always goes back to it after a couple of months.

I'm still trying hard to quit completely but its difficult especially when socialising and entertaining clients. A social smoker these days but at least I quit buying!!
  • #21,287
  • Jan 5, 2011 9:20am Jan 5, 2011 9:20am
Very nice action now.
Hope you are riding down too.
Was a attractive NY session so far ....

Anyone else gathered some pips?
  • #21,288
  • Jan 5, 2011 9:24am Jan 5, 2011 9:24am
Quoting MaMood
Very nice action now.
Hope you are riding down too.
Was a attractive NY session so far ....

Anyone else gathered some pips?
Hi MaMood, yes I have been trading it south since 3234 adding as it goes, and entered another position as noted in my last post at 3164. Nice trading today and hope it continues for a bit longer. Hope you are well.
  • #21,289
  • Jan 5, 2011 9:28am Jan 5, 2011 9:28am
Quoting GEfx
Hi MaMood, yes I have been trading it south since 3234 adding as it goes, and entered another position as noted in my last post at 3164. Nice trading today and hope it continues for a bit longer. Hope you are well.

Hi GE,

yeah nice move down.
it started a little bumpy for me, but since ADP data out, my book is growing ...

But we are going to facing some good support around 3100.
So I'll reduce exposure soon and wait foor increasing momentum again....

CU
  • #21,290
  • Jan 5, 2011 9:45am Jan 5, 2011 9:45am
Quoting MaMood
Hi GE,

yeah nice move down.
it started a little bumpy for me, but since ADP data out, my book is growing ...

But we are going to facing some good support around 3100.
So I'll reduce exposure soon and wait foor increasing momentum again....

CU
I am square and done for the day. Best of luck to you and nice hearing from everyone today.
  • #21,291
  • Jan 5, 2011 9:48am Jan 5, 2011 9:48am
Hi again,

have squarred out for today.
Will do some research/reading in the thread history ...

There are for sure still some diamonds that I have not found yet ...

Thanx to fti and his contributions today it was like in the good old times around 2008 and 2009 ...

CU tomorrow around London opening!

Niels
  • #21,292
  • Jan 5, 2011 9:49am Jan 5, 2011 9:49am
Quoting GEfx
I am square and done for the day. Best of luck to you and nice hearing from everyone today.
Same thoughts nearly at the same time ...
  • #21,293
  • Jan 5, 2011 11:17am Jan 5, 2011 11:17am
hello world,
unlike my exits, my entries needs a lot of work. i like to complete my understanding of EW at an advance level in order to better anticipate price action. i'd appreciate it if someone can point me in the right direction. thx in advance.
rgds/kevin
  • #21,294
  • Jan 5, 2011 11:48am Jan 5, 2011 11:48am
hi Ahab, EW is more for theoretical purposes in fti's method than it is used in active trading. In fti's opinion, EW's later works and interpretations are not as useful as his RN Elliott's original works. You may read up on the subject, but don't spend too much time on it, as it is only useful in the sense that it's good to know about certain aspect of it.

What's important about EW's works is that the market is made up of a general set of movements. An impulse, and then an ABC retrace. This is the basis of fti's decision to give junior dealers 1,1,2 skew (they get a few chances within the ABC retrace to make the position right. If they fail, then according to the EW works, the Junior dealers would have been in the wrong direction, in which case the seniors move in with a skew of 3,5,8 (4,4,8) in new direction.

I have more to explain, but my family is going to eat. I will be back
  • #21,295
  • Jan 5, 2011 11:52am Jan 5, 2011 11:52am
Quoting Kaptain Ahab
hello world,
unlike my exits, my entries needs a lot of work. i like to complete my understanding of EW at an advance level in order to better anticipate price action. i'd appreciate it if someone can point me in the right direction. thx in advance.
rgds/kevin
coincidence or not I came across of reading upon this subject today

here are FTI's thoughts:

http://www.forexfactory.com/showpost...postcount=1285

maybe you may reconsider your approach after reading it

hope it is of any help

all the best!
  • #21,296
  • Jan 5, 2011 12:05pm Jan 5, 2011 12:05pm
Quoting triger88990
coincidence or not I came across of reading upon this subject today

here are FTI's thoughts:

http://www.forexfactory.com/showpost...postcount=1285

maybe you may reconsider your approach after reading it

hope it is of any help

all the best!
good study guys, market is unforgiving
thanks for re-reading
  • #21,297
  • Edited 2:26pm Jan 5, 2011 2:15pm | Edited 2:26pm
FP/triger, thx for the feedback. currently i do not have the ability to trade totally naked like fti which is my primary goal but i am getting there slowly. the gray matter for this old dog do not like changes so i still do a lot of what Ben is doing over at http://picasaweb.google.com/shalomav constantly trying to probe/anticipate next possible leg. at the moment too many of his wedge charts has scrambled my brain so i see EW everywhere. maybe after few days my brain will clear. rgds/kevin
  • #21,298
  • Jan 5, 2011 2:57pm Jan 5, 2011 2:57pm
someone traded non-stop? equipment for workaholic
Attached Image
  • #21,299
  • Jan 5, 2011 3:04pm Jan 5, 2011 3:04pm
where can i get one of those?

Quoting Gro
someone traded non-stop? equipment for workaholic
  • #21,300
  • Jan 5, 2011 3:09pm Jan 5, 2011 3:09pm
Quoting Gro
someone traded non-stop? equipment for workaholic

LOL

I'm a workaholic, but I try to keep a balance in my life as whell just that I'm in totally commitment in everything I do.

I'll use it just for the purpose of reading through FF. LOL
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