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Technical Analysis Fallacy

  • #22,061
  • Jan 17, 2011 1:30am Jan 17, 2011 1:30am
Quoting indianguyinny24
AM i the only one who feels that its hard to explain to normal people or i guess i cant explain well..

V
when someone asks me for explanation of currency market : stock market but i buy euro instead of msft
when someone asks me for explanation of how i trade : buy low n sell high

keep it simple V
To Live is the rarest thing in the world , Most people exist , that is all
  • #22,062
  • Jan 17, 2011 1:35am Jan 17, 2011 1:35am
Quoting indianguyinny24
I have one friend very close to me who knows i trade FX....he has seen me evolving when i started trading back in 2007....he had moved out from NYC like 2 years ago...so yesterday we met after 2 years....after all normal talk he asked about forex...

SO he asked how do i trade....after my explanantion he said...


"SIr i asked you hwo u trade but what u told me is entire philosophical thigns there is nothing absoluete in terms of trading u r telling me....

what then i told him in his layman terms is we do Dynamic Risk management aka cost averaging...
Hi Vicky.
I have very simmilar experiences, despite i am still in learning process, when talk with anybody... I feel i am from some outer space. Their questions seems to me somehow simple and "lovely easy". And often it is so easy and they dont undersand. They sit on their own ego-machinemasculinary... They have their own(complicated) attitude and they laughing at me, that i am joking or... Because i tell them, that i am still learning and have problems with my psychology. Here it starts. And also ends. But it is mportant, thathey takeseriously whenthey askme about candles or something what is "fact" and when i understand and answer correctly, i have respect...? Why i dont know... regards
  • #22,063
  • Jan 17, 2011 1:38am Jan 17, 2011 1:38am
Good morning Friends!

Hope fti will recover soon.
A lot of trouble that he has to withstand in this phase of his life.
Wish you all the best fti!!!

@Vick: Same problem here. It is not only difficult to explain it to layman, but also to other traders. Most of them are still following very rigid their indicators. They see it as a form of discipline to follow their inidicators blindly ...

And I can also state, that life as a trader is very lonesome. In nearly every other job you have some colleagues around you. They can share you success and help, when you are down. That's not the same in trading. Not a dreamjob all the time ...

Wish you all a good start into this new trading week!
And Happy Martin Luther King day to our american friends!

CU,
Niels
  • #22,064
  • Jan 17, 2011 1:56am Jan 17, 2011 1:56am
Quoting imjscn
Dear all,

I received an email from one of FTI's friends. He is in hospital now.

I am posting on behalf of FTI to inform that he will be out of action for the next 3 to 5 days to fix some plumbing problem at the hospital.

Sorry for the short note, I will post again when I get further information.
I hope that FTI recovers, last week was rough. I am sure he was babysitting his positions.
  • #22,065
  • Jan 17, 2011 2:05am Jan 17, 2011 2:05am
Juts for info:


LONDON, Jan 17 (IFR) - Vanilla expiries for the 10am New York cut today include - 1.3300, 1.3330 and 1.3400 in EUR/USD, while in USD/JPY the closest to current market expiries are at 83.00. There are 1.58's in Cable and .98's in AUD/USD. Details on these and regularly added strikes for coming sessions can be found on our maturity calendar (More) . [email protected].
Copyright 2011 Thomson Reuters - IFRMarkets

Disclaimer: Be aware of possible COw dung included ;-)
  • #22,066
  • Jan 17, 2011 2:36am Jan 17, 2011 2:36am
Quoting auxesis
Here's one for GE,

http://www.youtube.com/watch?v=vmBe8...eature=related
Hey thanks for the blast from the past. 25 years ago this week I think/
  • #22,067
  • Jan 17, 2011 2:55am Jan 17, 2011 2:55am
Quoting imjscn
Dear all,

I received an email from one of FTI's friends. He is in hospital now.

I am posting on behalf of FTI to inform that he will be out of action for the next 3 to 5 days to fix some plumbing problem at the hospital.

Sorry for the short note, I will post again when I get further information.
Hi imjscn, can you send him our best wishes for a full and prompt recovery through your contact? Thanks...
  • #22,068
  • Jan 17, 2011 5:15am Jan 17, 2011 5:15am
Sure, Zoran.
The surgery was done on the weekend. This morning his friend said he is recoverying.
  • #22,069
  • Jan 17, 2011 5:18am Jan 17, 2011 5:18am
Quoting imjscn
Sure, Zoran.
The surgery was done on the weekend. This morning his friend said he is recoverying.
Thank you for the update imjscn.

Wishes for a quick and healthy recovery.
  • #22,070
  • Jan 17, 2011 5:30am Jan 17, 2011 5:30am
Quoting piccolo
I hope that FTI recovers, last week was rough. I am sure he was babysitting his positions.
Last week he didn't trade much, attempted a short, got wrecked, he loaded high skew for a profit. After that he said the market was too much manipulated, difficult for small traders to survive. Warned me to size down.
This trade was made during Asia day time and fnished near Asia middle night. It's ok. The problem is his chest has been painful recently. Wish Zoran had been successfully pursuaded him quit smoking 3 years ago.
  • #22,071
  • Jan 17, 2011 5:58am Jan 17, 2011 5:58am
Wishing fti all the best in his recovery. Looking forward to the day he is back with us.

I am long the GBP/$ at 1.5887, and took a long on the E/$ at 1.3298.
  • #22,072
  • Jan 17, 2011 6:20am Jan 17, 2011 6:20am
Quoting imjscn
Last week he didn't trade much, attempted a short, got wrecked, he loaded high skew for a profit. After that he said the market was too much manipulated, difficult for small traders to survive. Warned me to size down.
This trade was made during Asia day time and fnished near Asia middle night. It's ok. The problem is his chest has been painful recently. Wish Zoran had been successfully pursuaded him quit smoking 3 years ago.
I tried my best but it ended up putting a wedge between us unfortunately.

My father-in-law, who smoked heavily passed away a couple of months ago from lung cancer. Both myself and my wife tried the same with him about 6 or 7 years ago but we didn't succeed.

As mentioned, smoking is mostly a mind game while the addiction is weak. If you can stop for 2 or 3 weeks then the addiction is out of your system and the rest is in your mind. If you understand the game then it's easy to stop and once stopped there are only three rules:

Rule number 1: Don't ever have a smoke again, as you will then become a smoker.
Rule number 2: Don't ever have a smoke again, as you will then become a smoker.
Rule number 3: Don't forget rule number 1.

Then you are free.
  • #22,073
  • Jan 17, 2011 6:36am Jan 17, 2011 6:36am
I read the same book as you Zoran and found it incredibly easy to stop smoking. So easy, in fact, that I was stupid enough to fall back into the same trap again....although I stopped again a month ago.
  • #22,074
  • Jan 17, 2011 6:42am Jan 17, 2011 6:42am
Quoting ukmanthailan
I read the same book as you Zoran and found it incredibly easy to stop smoking. So easy, in fact, that I was stupid enough to fall back into the same trap again....although I stopped again a month ago.
Hi Mark and Zoran.

It's all about mindset - as allways.
Be strong Mark!

By the way: Gro - how you are doing?
Still without cigs?

Cu,
Niels
  • #22,075
  • Jan 17, 2011 7:25am Jan 17, 2011 7:25am
I find the biggest disease in trading, and in these forums, is the "egotistical, i have to teach everyone something so i can look bigger than i am" syndrome. You have posted the very obvious and i commend you for it. Obviously. If all this hasn't been overdone to the nth degree, i have not traded for 20 years. I guess a pat on the back from fellow traders is all some require. I require something new that i haven't heard before. I have yet ot hear it in any of these forums. good day.
  • #22,076
  • Jan 17, 2011 7:51am Jan 17, 2011 7:51am
jaygee,
It's a joy if you have something to give. Try it once, and you'll understand the feeling.
  • #22,077
  • Jan 17, 2011 8:17am Jan 17, 2011 8:17am
Quoting jaygee
I find the biggest disease in trading, and in these forums, is the "egotistical, i have to teach everyone something so i can look bigger than i am" syndrome. You have posted the very obvious and i commend you for it. Obviously. If all this hasn't been overdone to the nth degree, i have not traded for 20 years. I guess a pat on the back from fellow traders is all some require. I require something new that i haven't heard before. I have yet ot hear it in any of these forums. good day.
Hi jaygee, I read your post, then took the opportunity to read the other three posts that you have made in FF. They all appear to say the same thing. I find it interesting that you only make negative comments but have never shared a constructive thought. You also hint at having a profitable approach to trading, which is great for you. If your approach is similar to the approach discussed here, then welcome and we look forward to your contributions. If not, then best of luck to you and I hope you find a thread here in FF that lets you contribute your ideas while learning from others. Otherwise, we tend to ignore malcontents and complainers for a time, then things get nasty. Let's try to avoid all that. Best wishes and I hope you make a(nother) million this week -- LOL.
  • #22,078
  • Jan 17, 2011 8:22am Jan 17, 2011 8:22am
Quoting ukmanthailan
I read the same book as you Zoran and found it incredibly easy to stop smoking. So easy, in fact, that I was stupid enough to fall back into the same trap again....although I stopped again a month ago.
You are right, it is easy to stop after knowing the game. I was one grumpy person during the first three weeks and during the first year I knew I was in a mind battle but I defeated it by not having a cigarette. I remember having dreams where I started again and I became disappointed, thinking I failed but was relieved when I awoke knowing all is still well. The thoughts get weaker and weaker eventually to the point of being non-existent (de-brainwashing in my opinion). After the first year they were pretty much gone. The simple rule is never to have another cigarette again under any circumstances and not to forget that rule. It only takes one to become a smoker again but once stopped, it gets easier from that point on.
  • #22,079
  • Jan 17, 2011 9:54am Jan 17, 2011 9:54am
Quoting jaygee
I find the biggest disease in trading, and in these forums, is the "egotistical, i have to teach everyone something so i can look bigger than i am" syndrome. You have posted the very obvious and i commend you for it. Obviously. If all this hasn't been overdone to the nth degree, i have not traded for 20 years. I guess a pat on the back from fellow traders is all some require. I require something new that i haven't heard before. I have yet ot hear it in any of these forums. good day.
Well! I guess you showed us? Do you feel "bigger" by putting others down?

Bye!

I guess the old adage, "don't let the door hit you on your ass on the way out," would be inappropriate.
  • #22,080
  • Jan 17, 2011 10:07am Jan 17, 2011 10:07am
Quoting auxesis
Well! I guess you showed us? Do you feel "bigger" by putting others down?

Bye!

I guess the old adage, "don't let the door hit you on your ass on the way out," would be inappropriate.
LOL. BTW, sorry about the Pats. They killed the Bears a few weeks ago so I must say I am not sad to see them eliminated.
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