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Technical Analysis Fallacy

  • #22,921
  • Feb 10, 2011 12:42pm Feb 10, 2011 12:42pm
how many pages of this thread should i read to get the gist of fti teaching.will be grateful if someone give me an idea thanks in advance
Allah has permitted trade and has forbidden interest [koran]
  • #22,922
  • Feb 10, 2011 12:50pm Feb 10, 2011 12:50pm
Quoting drzakir123
no ur not wrong i guess its arrogance.
I think you should start with studying here.
  • #22,923
  • Feb 10, 2011 12:51pm Feb 10, 2011 12:51pm
Quoting drzakir123
how many pages of this thread should i read to get the gist of fti teaching.will be grateful if someone give me an idea thanks in advance
Min 200 pages and please dont finish it on a weekend...

and this will just give u knowledge....FTI teaching added on emphasie on practice is most imp


V
  • #22,924
  • Feb 10, 2011 1:10pm Feb 10, 2011 1:10pm
Quoting Fana
I think you should start with studying here.
i love u fana.[just platonic love]u seems to be very sensitive person.
Allah has permitted trade and has forbidden interest [koran]
  • #22,925
  • Feb 10, 2011 1:12pm Feb 10, 2011 1:12pm
Quoting indianguyinny24
Min 200 pages and please dont finish it on a weekend...

and this will just give u knowledge....FTI teaching added on emphasie on practice is most imp


V
thanks for the respone.where u from in india.
Allah has permitted trade and has forbidden interest [koran]
  • #22,926
  • Feb 10, 2011 2:03pm Feb 10, 2011 2:03pm
Quoting drzakir123
thanks for the respone.where u from in india.
from Delhi now in NYC......


V
  • #22,927
  • Feb 10, 2011 2:19pm Feb 10, 2011 2:19pm
Quoting indianguyinny24
from Delhi now in NYC......


V
me from hyderabad india.
Allah has permitted trade and has forbidden interest [koran]
  • #22,928
  • Feb 10, 2011 2:33pm Feb 10, 2011 2:33pm
First of all, thanks to everyone who commented. Waiting for the price to retrace a bit for a bargain works well from experience. However, if I need to be confident in my position so. After some thought, I think the spiral within spiral is the best method until I get pulse correct.

I will add small position at where I would usually (ends up being the top..) and then wait for a bargain to place the rest of my troops. This way it ends up like being a "mini-rescue".

As for the wave counting. I think it might be useful (his ABCDE examples). But these do not happen all the time and I want to be as flexible as possible. I think the key word is "dance sequence". I interpret dance sequence as strategy based on previous market behavior (or when market changes "modes").

Switching directions too fast is real problem. I want to be nimble, but not easily scared. I guess where you draw the line is a personal preference based on terrain. I think once I get 3k up, I will have better idea if my ground has completely changed (where I would switch).


Quoting indianguyinny24
Min 200 pages and please dont finish it on a weekend...

and this will just give u knowledge....FTI teaching added on emphasie on practice is most imp


V
  • #22,929
  • Feb 10, 2011 3:12pm Feb 10, 2011 3:12pm
Hi dannbb, from what I've experienced, waiting for confirmation causes problems. fti stresses having confidence in your trades and not having to wait for confirmation (by the time you feel confident enough, the price is already running off without you). The time it takes for people to think, calculate and give "analysis" takes a while, and we don't have that luxury.

If I feel a strong urge to use confirmation to enter a trade, then the market is probably acting very very odd. In this case, it is better to sit it out (for beginners at least).

In general however, confirmation should be used to evaluate your current position. The behavior of price can be used to evaluate if you have mis-timed your troops. But make sure that once you have made a position that you stick by it. Looking for confirmation can force your brain to do flip-flop analysis (ex. Maybe I should have gone short instead on long?). Management of your position is more important than confirmation.

But then again I am also learning, so it would be wise to listen to the more experienced members




Quoting dannbb
I had the exactly same problem previously.. buying at the highest and selling at the lowest.. that result in many rescues..
now i try to delay my decision by one or two more bar in 5m chart...seem to work at the moment.
  • #22,930
  • Feb 10, 2011 3:23pm Feb 10, 2011 3:23pm
drzakir123, A quick note about reading through the threads. Indianguy is completely right. Please read slowly. The first time I read through it too quick and gleaned only about 1% of what fti taught.

I would suggest after reading the thread once to do some demo trading (with skew sizes 1,1,1, to build up nimbleness). This will help you understand the complexity of his teachings and get you to "think". Then re-read it again and ask plenty of Q's. Of course in the end, it's all up to lots of practice.

Also, try not to get hung up on the charts and the skew sequence (I did and it killed my flexibility for a while). The important things are the concepts. The charts and skews provided are simply "examples" which demonstrate the concepts.



Quoting indianguyinny24
Min 200 pages and please dont finish it on a weekend...

and this will just give u knowledge....FTI teaching added on emphasie on practice is most imp


V
  • #22,931
  • Feb 10, 2011 3:47pm Feb 10, 2011 3:47pm
The Guy In The Glass
Author: Peter "Dale" Wimbrow, Sr.
When you get what you want in your struggle for pelf, And the world makes you King for a day,
Then go to the mirror and look at yourself, And see what that guy has to say. For it isn't your Father, or Mother, or Wife, Who judgement upon you must pass.

The feller whose verdict counts most in your life Is the guy staring back from the glass.
He's the feller to please, never mind all the rest, For he's with you clear up to the end, And you've passed your most dangerous, difficult test If the guy in the glass is your friend.

You may be like Jack Horner and "chisel" a plum, And think you're a wonderful guy, But the man in the glass says you're only a bum If you can't look him straight in the eye.

You can fool the whole world down the pathway of years, And get pats on the back as you pass, But your final reward will be heartaches and tears If you've cheated the guy in the glass

V
  • #22,932
  • Feb 10, 2011 4:12pm Feb 10, 2011 4:12pm
Quoting fullperson
drzakir123, A quick note about reading through the threads. Indianguy is completely right. Please read slowly. The first time I read through it too quick and gleaned only about 1% of what fti taught.

I would suggest after reading the thread once to do some demo trading (with skew sizes 1,1,1, to build up nimbleness). This will help you understand the complexity of his teachings and get you to "think". Then re-read it again and ask plenty of Q's. Of course in the end, it's all up to lots of practice.

Also, try not to get hung up on the charts...
thanks,i fully appreciate ur advice.thanks once more.
Allah has permitted trade and has forbidden interest [koran]
  • #22,933
  • Feb 10, 2011 4:37pm Feb 10, 2011 4:37pm
Quoting fullperson
Hi dannbb, from what I've experienced, waiting for confirmation causes problems. fti stresses having confidence in your trades and not having to wait for confirmation (by the time you feel confident enough, the price is already running off without you). The time it takes for people to think, calculate and give "analysis" takes a while, and we don't have that luxury.

If I feel a strong urge to use confirmation to enter a trade, then the market is probably acting very very odd. In this case, it is better to sit it out (for beginners at least).

In...
Yeah.. but if i stick to my first impulse.. i got into deep deep rescue..
This is already confirm by my result at that time In 10 trade i have 9 rescue
if you look at some of fti blotter.. he took maybe 20- 30 pips only from the market depends on the market volatility but he sent in big troops.. so it is ok for me to miss that train at the beginning.. as long as i can catch 10-20 pips. i already hit my 1% target for the day..
Got a full time job .... I cannot do like indianguyinny24 does with so little sleep.. that why i try not to get into rescue and also does not sent in more than 2 round of attack.
  • #22,934
  • Edited 5:36pm Feb 10, 2011 5:35pm | Edited 5:36pm
Quoting fullperson
drzakir123, A quick note about reading through the threads. Indianguy is completely right. Please read slowly. The first time I read through it too quick and gleaned only about 1% of what fti taught.
I found it useful to keep comprehensive notes as I read through. This will save you having to keep going back to re-read stuff later.

I am trying to make this a habit in every aspect of my life. It is an exellent supplement to an unreliable memory.

I keep a pad and pen by my bed now because some of the best insights come when the mind is in that perfect 'alpha' state as you awake in the morning and transit to waking consciousness.
  • #22,935
  • Feb 10, 2011 7:16pm Feb 10, 2011 7:16pm
Quoting Baifu
Some thoughts from a poor timer (me!)

Don't forget to count waves (the basics of impulse and retrace for market form, not the elaborate curve fitting for timing and price prediction). On july 22 2008, in answer to Zoran "how do you work out your time window fti?" he answered "I told you before wave counts and the dance sequence." Wave count also informs how deep is the move and the proper MM and MO.

fti said to be able to attack or add brings home the bacon, rescue brings the bread. I am still struggling to tell the difference between...
Awesome post Baifu.......
  • #22,936
  • Feb 10, 2011 8:10pm Feb 10, 2011 8:10pm
Quoting dannbb
Yeah.. but if i stick to my first impulse.. i got into deep deep rescue..
This is already confirm by my result at that time In 10 trade i have 9 rescue
if you look at some of fti blotter.. he took maybe 20- 30 pips only from the market depends on the market volatility but he sent in big troops.. so it is ok for me to miss that train at the beginning.. as long as i can catch 10-20 pips. i already hit my 1%...
Read this story and it is mandatory.....and what i highlighted ...does anyone find any similarity????

http://www.forexfactory.com/showpost...&postcount=452
  • #22,937
  • Feb 10, 2011 9:52pm Feb 10, 2011 9:52pm
Quoting indianguyinny24
Read this story and it is mandatory.....and what i highlighted ...does anyone find any similarity????

http://www.forexfactory.com/showpost...&postcount=452
Thanks for the alert i had learn that through the hard way..500 pips drawdown...
Brought Mamood's fav Jap lady at 85.5 in Sep 2010.. only manage to get out recently at a small token loss..
Now I never go near that woman again
This MO requires just two basic ingredients.. Time and Capital, both is lacking as a part-timer traders with full time commitment elsewhere.
Greed is something I had in control now.. i will just take whatever the market gives and dont ask for more. the market can be moving 100-200 pips in my direction.. i am satisfied to get out just 10-20 pips it all depends on the PA of that Bar and the next Bar..
I had been consistent for the past 7months since June 2010.. 2% per week..10% per month except that Jap woman's saga
  • #22,938
  • Feb 11, 2011 12:35am Feb 11, 2011 12:35am
Quoting dannbb
Greed is something I had in control now.. i will just take whatever the market gives and dont ask for more. the market can be moving 100-200 pips in my direction.. i am satisfied to get out just 10-20 pips it all depends on the PA of that Bar and the next Bar..
Just be careful with situations when market moves against you. It will ask for more than 10-20 pips if you let it.

Regards,
Hrivel
  • #22,939
  • Feb 11, 2011 12:55am Feb 11, 2011 12:55am
Quoting Hrivel
Just be careful with situations when market moves against you. It will ask for more than 10-20 pips if you let it.

Regards,
Hrivel
Thanks for the advise.. this is something you cannot control... market dictates where it wants to go.. i just dance along.. having to survive 500 pips drawdown .. this actually change my mindset and the way I look at market..
  • #22,940
  • Feb 11, 2011 1:05am Feb 11, 2011 1:05am
"I had been consistent for the past 7months since June 2010.. 2% per week..10% per month except that Jap woman's saga." dannbb

That is a very consistent result. Well done. Ray
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