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Technical Analysis Fallacy

  • #24,061
  • Mar 31, 2011 3:42pm Mar 31, 2011 3:42pm
“Success and failure are the same impostor”

isnt that goes for
Attack and Rescue????
as well

V
  • #24,062
  • Mar 31, 2011 3:47pm Mar 31, 2011 3:47pm
Quoting indianguyinny24
“Success and failure are the same impostor”

isnt that goes for
Attack and Rescue????
as well

V
  • #24,063
  • Mar 31, 2011 3:51pm Mar 31, 2011 3:51pm
Quoting Gro


PS I can not open it file .prc
Gro,

these are only for Kindle....http://www.amazon.com/dp/B002Y27P3M/...l_96l1nf9bbr_e

i still need to download and upload it as pdf...the websiotes also gave error...

I will upload the html file soon...

V
  • #24,064
  • Mar 31, 2011 4:11pm Mar 31, 2011 4:11pm
Quoting indianguyinny24
Gro,

these are only for Kindle....http://www.amazon.com/dp/B002Y27P3M/...l_96l1nf9bbr_e

i still need to download and upload it as pdf...the websiotes also gave error...

I will upload the html file soon...

V
OK
  • #24,065
  • Mar 31, 2011 4:38pm Mar 31, 2011 4:38pm
Amanah I like your interpretation
I guess my cages/jails are not as nice as yours. I don't feed my inmates

Adding onto Gro's comment, includes knowing the MO of the CB, dealers, Mmakers. Knowing what they do allows us to see what they are up, when they will step in (aka when to square/reduce exposures) and to help make strategies.

Quoting Amanah
FullPerson...
  • #24,066
  • Mar 31, 2011 5:29pm Mar 31, 2011 5:29pm
Quoting indianguyinny24
“Success and failure are the same impostor”

isnt that goes for
Attack and Rescue????
as well

V
that's true Vic, that is why we always have to throw in a scout since it is expendable... and patience always pays... we'll wait until the market show us her hand... and deploys attack... and always in attack mode when in attack mode...

... for the rescue... it's always wise to see and feel the market on higher TF for direction to confirm plan of rescue... support and resistance levels are good indicatory measures for deploying rescues...

... rescues must be quick and done swiftly... and always constantly evaluating the market... all the time... checking current position of the now...

lastly, killing scout when need be is just as good as any other call... i always think of the golden rule of fti's... rule#1 - protect your capital...


regards,
eddy

p.s. when you say it's only for KINDLE... would that mean i cannot open it to my ipad ??? i thought they're just the same documents... readable with any tablet pc???
Success consists of going from failure to failure without loss of enthusiam
  • #24,067
  • Mar 31, 2011 6:15pm Mar 31, 2011 6:15pm
Quoting Gro
Hi FX Plankton

my response: "you're only as good as the last trade, NO HISTORY!"

Rgs
Hello Gro,
Before I go into the specific issue, let me congratulate you for your wonderful illustrations in the pages I have read (p. 487 - Post 7291).
I am not sure that I got your message right because your comment was right after Chap 1 AOW and Monkey Wrench.
Do you mean to say that as of March 31st, 2011, the AOW is no longer relevant?
I would very much appreciate your clarification.
Best Wishes!
Plankton
"Life is like a box of chocolates."
  • #24,068
  • Mar 31, 2011 6:18pm Mar 31, 2011 6:18pm
Quoting FX Plankton
Hello Gro,
Before I go into the specific issue, let me congratulate you for your wonderful illustrations in the pages I have read (p. 487 - Post 7291).
I am not sure that I got your message right because your comment was right after Chap 1 AOW and Monkey Wrench.
Do you mean to say that as of March 31st, 2011, the AOW is no longer relevant?
I would very much appreciate your clarification.
Best Wishes!
Plankton
AOW is one of the core-essentials of this thread... and it is a pre-requisite in dancing... remember you as the general...

imho

regards

...

deployed short scout aussie
Success consists of going from failure to failure without loss of enthusiam
  • #24,069
  • Edited 6:48pm Mar 31, 2011 6:23pm | Edited 6:48pm
hey philip, how's your shorts last night?

i'm still dollar bull today...

L2 deployed
L3 deployed...

........
squared 1.0322...
need to run errands
be nimble all!
Success consists of going from failure to failure without loss of enthusiam
  • #24,070
  • Mar 31, 2011 7:23pm Mar 31, 2011 7:23pm
hi, im horribly new to this and have currently enrolled into an online course as I realise I need help and dont want to learn too many bad habits by fudging my way through trades scraping profits where I can.

But my point is, for people new to forex, surely technical analysis is the best place to start, it at least provides you with a base to work from and a system. Of course theres no magic algorithm or holy grail etc but how is a noob to gain experience without losing a ton of cash if they dont start somewhere. Is there a better starting point than Tech analysis??

Thanks
  • #24,071
  • Mar 31, 2011 7:34pm Mar 31, 2011 7:34pm
Hello!
I am amazed by Gro's talent.
Here is one of the illustrations I found at posting 7539 page 503.
http://www.forexfactory.com/attachme...3&d=1245165640
I think you could make a good living with these illustrations.
I can think of one Broker who would like to use yours.
Best!
Plankton
"Life is like a box of chocolates."
  • #24,072
  • Mar 31, 2011 8:03pm Mar 31, 2011 8:03pm
Quoting Fana
Are you a professional trader?
I have been employed in the financial markets in a professional capacity. I worked for a member firm on the floor of CME for a short time. It was more or less just a glorified assistant job. I have three generations of traders in my immediate family who have taught me everything I know. Two were in grain pits and one in treasuries on the CBOT. I trade Chicago style. Anyhow nowadays I'm quite fortunate I have a full time job in road construction on the engineering side which allows me to have an office where I can trade all day long. So in effect I can trade just as if I was home yet collect a salary.

Regarding only trading the Eurusd that is a wise decision. But when you have confidence in yourself you should keep the aussie and cable on your radar. Aussie has nice low risk setups like the one I suggested today when inter market analysis is applied. However, I would recommend reducing size considerably on these pairs.
  • #24,073
  • Mar 31, 2011 8:08pm Mar 31, 2011 8:08pm
Quoting dongsky
hey philip, how's your shorts last night?

i'm still dollar bull today...

L2 deployed
L3 deployed...

........
squared 1.0322...
need to run errands
be nimble all!
Thks to your pointer was able to "milk" some pips out of that bull

Hope u see later to continue our discussion.


Pip Well
Philip
"Thinking Heart & Feeling Brain"
  • #24,074
  • Mar 31, 2011 8:35pm Mar 31, 2011 8:35pm
Quoting dongsky
that's true Vic, that is why we always have to throw in a scout since it is expendable... and patience always pays... we'll wait until the market show us her hand... and deploys attack... and always in attack mode when in attack mode...

... for the rescue... it's always wise to see and feel the market on higher TF for direction to confirm plan of rescue... support and resistance levels are good indicatory measures for deploying rescues...

... rescues must be quick and done swiftly... and always constantly evaluating the market... all the...
Eddy,

About rescue and Attack i realized something.... lets for number sake i have 60X is my size regarding to scout and i think i have seen myself going till 45x army into for rescue BUT BUT BUT i am still unable to go till 30X even on attack...

I think recently Mamood was talking about how we should prepare for worst or trade what is worst like...and today it hit me... if we can have same amount of Troops in attack as well as in rescue WITH SAME MINDSET...

and then i thought what was stopping me....and came the scorpio

FEAR

“Of all the liars in the world, sometimes the worst are your own fears"

and then thought how to handle this....got ans from Gro video ....




And not enough thanks to Gro,

Inserted Video


i think only way to be like that is

"Be water my friend"
PS: i made it as my signature now :

sorry guys if i am blaberring too much....

V


@Gro,Eddy,kravmaga39

@topic of kindle i checked Kindle as HARDWARE works differently as SOFTWARE . So files i provided can be uploaded to hardware kindle and works fine. Not sure how software works.

BTW below link has 4 files simple HTML files. Please convert into PDF files or you can read it as html

File name: taf_html.zip File size: 50.76 MB
  • #24,075
  • Edited 8:37pm Mar 31, 2011 8:36pm | Edited 8:37pm
Hello,
Here is part of a posting from imjscn.
(This is Posting #7678 of Jun 17, 2009 9:01pm)
For the past decade I have been arguing this angle with my closest ones. That is, I am in accord with the author although I realize that Positive Thinking is useful if realistically applied. Hope you enjoy this old posting from 2009.

Words of wisdom(not really as wise as fti, but that's the article title)
Jun 11th 2009
From The Economist print edition
For some people, optimistic thoughts can do more harm than good
“I CAN pass this exam”, “I am a wonderful person and will find love again” and “I am capable and deserve that pay rise” are phrases that students, the broken-hearted and driven employees may repeat to themselves over and over again in the face of adversity. Self-help books through the ages, including Norman Vincent Peale’s 1952 classic, “The Power of Positive Thinking”, have encouraged people with low self-esteem to make positive self-statements. New research, however, suggests it may do more harm than good.
"Life is like a box of chocolates."
  • #24,076
  • Mar 31, 2011 9:18pm Mar 31, 2011 9:18pm
Quoting indianguyinny24
Eddy,

About rescue and Attack i realized something.... lets for number sake i have 60X is my size regarding to scout and i think i have seen myself going till 45x army into for rescue BUT BUT BUT i am still unable to go till 30X even on attack...

"Be water my friend"
PS: i made it as my signature now :

sorry guys if i am blaberring too much....

V


@Gro,Eddy,kravmaga39

@topic of kindle i checked Kindle as HARDWARE works differently as SOFTWARE . So files i provided can be uploaded to hardware kindle and works fine. Not sure how software...
Hi Vick

for me i need to really define my pain treshold and how much capital i have... in most cases, depending on volatility and how i see the current market direction and behaviour...

... when i was just started dancing TAF way, i was very reckless because i just deploy my scout anytime without thourough observing and feeling the market... thinking that i have enough reserves to do rescue... but then that's part of learning... before i deployed rescues after the price go against me like 15 pips... so aggressive i suppose...

if the momentum and volatility is right then i can easily do rescue quickly... but most of the time... i thought i need to do a rescue when actually i was just ridding a small retrace or correction...

all in all... it's just a matter of having the right mindset... how you run a battle mindset... i've learned all this from fti though

but everytime i am in doubt with my position... i never think twice to close it... and start to look for another profitable entry... but i always leave scout in the terrain to pulse the market further, and can make a good view of it...


fear... we'll just the same as my scorpion, so difficult to topple down fear... but i believe i become a better person because i have it... i'm still trying to control it though...

regards,
eddy

p.s. have downloaded document but it wont fire up with my tablet pc
Success consists of going from failure to failure without loss of enthusiam
  • #24,077
  • Mar 31, 2011 9:21pm Mar 31, 2011 9:21pm
Quoting Sylar
Thks to your pointer was able to "milk" some pips out of that bull

Hope u see later to continue our discussion.


Pip Well
Philip
drop me a line when you see me later... let's continue rockin' rollin' just don't be too greedy...

regards,
Success consists of going from failure to failure without loss of enthusiam
  • #24,078
  • Mar 31, 2011 10:25pm Mar 31, 2011 10:25pm
Quoting dongsky
all in all... it's just a matter of having the right mindset... how you run a battle mindset... i've learned all this from fti though

but everytime i am in doubt with my position... i never think twice to close it... and start to look for another profitable entry... but i always leave scout in the terrain to pulse the market further, and can make a good view of it...
Thats what i meant....at the end its the mindset...

Quote

fear... we'll just the same as my scorpion, so difficult to topple down fear... but i believe i become a better person because i have it... i'm still trying to control it though...

regards,
eddy

p.s. have downloaded document but it wont fire up with my tablet pc

FEAR would always be there...

About the File...i think best way is to try to make a pdf out of it then try to open....

My only guess...

V
  • #24,079
  • Apr 1, 2011 12:33am Apr 1, 2011 12:33am
Quoting indianguyinny24
[...]
I think recently Mamood was talking about how we should prepare for worst or trade what is worst like...and today it hit me... if we can have same amount of Troops in attack as well as in rescue WITH SAME MINDSET...

[...]
Morning Vick,

yeah - that description fits much better than mine.
I think it makes it clear now.

Thx.

Niels
  • #24,080
  • Apr 1, 2011 12:57am Apr 1, 2011 12:57am
Just for info:

By Andrew Monahan Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--The yen weakened against the dollar and the euro in Asia Friday, as speculation mounted that Bank of Japan data due Monday will push the authority toward additional monetary easing, just as its counterparts in the U.S. and Europe appear to be moving in the opposite direction.

Dealers said the Japanese currency could suffer further later in the day if the U.S. non-farm payrolls report for March, due at 1230 GMT, reveals a continued recovery in the jobs market. That would likely add to hawkish views within the Federal Reserve, increasing the relative allure of the greenback.

It would also boost the willingness of investors to bet on riskier assets, purchases of which may increasingly be funded with the low-interest yen. As the yen must be sold in such "carry trades," this could add to downward pressure on the unit in the weeks ahead, dealers say.

The Bank of Japan will announce Monday morning in Tokyo the indexes for responses to its quarterly tankan business sentiment survey gathered after the devastating earthquake and tsunami that struck March 11. The results are expected to be grim, following figures Friday that didn't take into account the impact of the disaster.

"The Monday release will be the first data collected by the Bank of Japan that reflect the impact of the disaster, which could increase the chances of additional easing at their meeting later next week," said Kenro Kawano, chief fixed-income strategist at Credit Suisse in Japan.

The March U.S. jobs data will be particularly key for the dollar-yen later, as the relative appeal of both as carry-trade funding currencies "is closely related to the outlook for each central bank," said Yuki Sakasai and David Forrester, foreign exchange analysts at Barclays Capital.

The report is expected to show the U.S. economy added 195,000 jobs in March, up from the 192,000 in February, with the unemployment rate holding at 8.9%.
As the yen weakened earlier Friday, the dollar climbed to Y83.75, its highest since Feb. 17, above the Y83.30 mark hit briefly after the earthquake struck on March 11. At 0450 GMT, it was at Y83.59, up from Y83.15 late Thursday in New York. Dealers said any rises above Y84 may be unlikely for now, as Japanese exporters are looking to sell around that level.


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