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Technical Analysis Fallacy

  • #24,121
  • Apr 3, 2011 5:58am Apr 3, 2011 5:58am
Quoting FX Plankton
[...]
Therefore, your comment on your Blotters being posted took me by surprise (even though I have read many of your past postings).
Furthermore, while I respect your opinion that showing detailed Blotter is better than showing Results I am of the opinion that if I am already using FTI's Method it is not necessary to show the details.
This opinion of mine is based on Scientific approach to publishing results in peer-reviewed journals (where space is at premium - specially in top journals).
[...]

Thanks again.
Best!
Plankton
PS: Before replying...
Hi again Plankton,

there is nothing wrong with your personal view of the sense and nonsense of a thread like this. But maybe you could benefit more from it, when you
see the people here as a group of friends (or family), who give feedback to each other, just to help to improve more. Or to spot slight or massive deviation from the teachings. Nothing more, but also nothing less.

So posting a detailed blotter will provide the chance for you, to get different opionions and (valuable) feedback. When you feel that your trading is already very close to fti's teachings, so it is just great to show other beginners, how a trading session could (should) look like ...
But that of course depends on you ....

All the best,
Niels
  • #24,122
  • Apr 3, 2011 11:04am Apr 3, 2011 11:04am
Quoting MaMood
Hi again Plankton,

there is nothing wrong with your personal view of the sense and nonsense of a thread like this. But maybe you could benefit more from it, when you
see the people here as a group of friends (or family), who give feedback to each other, just to help to improve more. Or to spot slight or massive deviation from the teachings. Nothing more, but also nothing less.

So posting a detailed blotter will provide the chance for you, to get different opionions and (valuable) feedback. When you feel that your trading is already very close...

Hello MaMood,

I do very much appreciate your comments.

*Introduction*
To further understand 'where I am coming from' I must point out that I am now at Page 839 (Jan 10, 2010).
I already said that I am a newbie (I maintain that concept).
I have been analyzing time-dependent charts (mostly related to heart diseases), since 1970s.
I have developed an eye for time frames that go from months, days, seconds, milliseconds, microseconds, etc.
Thus, over these many years I have a conditioned reflex (Pavlov's concept) on how to capture events at different time scales.

*Different Interpretations*
As it happens with many excellent books (e.g. Sacred Scriptures), the Interpretation of AOW appears different to different people.
For example, I was recently told in this Thread that FX Trading is a Marathon.
The concept of Marathon is misleading as this implies a Protracted War & Battles (Strategy & Tactics).
It also defies the FTI's teaching of Non-Rigidity.
Why is it that a newbie and newcomer to this Thread gets a completely differen idea from a more experienced trader? (I will explain in the next paragraph).
This is why I highly value the work done by the History Channel (HC) on AOW (available at YouTube or elsewhere).
I also like to note that despite the availability of this work in HC, as of Jan 2010 I have not seen a posting making reference to this video.
The HC work is important because it gathers the opinion of respectable experts. Of course, if one chooses to abide by the Great Chairman Mao's Teachings (and his fantastic Cultural Revolution), then the HC work is no good.

* K I S S * (Even FTI says so)
I believe that posting Blotters is a good idea but I also believe that too much posting of the same creates confusion and keeps eating valuable space (that goes down in value as the postings keep going on the tangent).
For the newbies (like me), it appears more useful (educationally-speaking) posting the time-dependent charts with points of entries and exits (maybe with some explanatory labels). I have seen very few charts like this in this Thread. This approach shows the Price Action at the moment of entry and exit. The blotter along forces the reader to re-create the situation. This exercise, while good for the development of the Spirit, is a situation that my students would not appreciate if they found out that there is an easier way to learn. This is why I keep referring the readers to Chapt 1 of AOW (as per HC interpretation).

I, therefore, take this opportunity to propose the following while I try to finish my first reading of this valued Thread.

*Proposal To The Senior Students*
I believe that FTI has done more than enough in opening our minds to a new world (thus avoiding to be destroyed by the Stop Sweepers).
Thus, my proposal is directed to the Senior Students in this Thread who have been benefited.
My idea developed yesterday, when I came across a Thread that talks about 'Averaging Down'.
After reading that Thread, I realized that the people arguing against did not get the concept for several reasons, one of which is the lack of a simple, concise text (do not forget that producing text for students has been part of my job for decades).
Having this easy-to-follow text or Wiki-Text (rather than referring people to reading the whole Thread - the old-fashioned approach I grew up with) would not only simplify matters but will also ensure that FTI (and his Teachers/Mentors) get the well-deserved credit (one that I believe is being stolen by others - a per my readings and studies).
Since I have experienced the sadness of having ideas stolen, I humbly submit/propose to you the following idea.
That the Seniors in this Thread take upon themselves to write concise, easy-to-follow texts for present and future generations.
These young, energetic students of FTI's Teachings will understand the current culture and psyche.
The alternative to doing that is to continue with referring people to reading the Thread and thus to follow the mysterious path of the Alchemists.
The latter approach, I believe, has little chance of success is this modern, fast-moving, cut-throat world).
However, it will no doubt produce a few successful traders (who have the stamina of the Alchemist).

*Acknowledgements*
As customary, I tender my thanks to FTI, to those who patiently have read my postings and tried to help me out, as well as to those who have replied to my postings. Again, I apologize for any uncomfortable feeling that my comments may have arouse. I very much value FTI teachings because they have synthesized the opinions that I have been putting together through the past 6 months (e.g. I always kept asking about that SL as it was clear to me that it was a self-destructive mechanism if taken independent of MM & MO).

Best!
Plankton
PS: As I indicated, it was my intention not to post until I finish reading the Whole Thread (still is my goal). However, I replied to MaMood's posting because I could be seen unpolite if I were not to reply.
"Life is like a box of chocolates."
  • #24,123
  • Apr 3, 2011 1:53pm Apr 3, 2011 1:53pm
Hi Plankton,

it is difficult not to answer to your posting above. But please do not feel forced to break your plan to read till the end of the thread first before you jump into that disccussion. Just feel free to do what ever you want. :-)

I guess you should switch from considering that thread as a highly efficient and well structured scientific work or paper. Maybe it was something more close to that in the begining. After fti has presented most of his teachings, this thread is more close to the reasearch laboratory itself:
There is the Professor.
There are some seniors.
Some people are working for their dissertation,
other for their habilitation.
And there also some students working for their diploma.
And finally the student, who are just absolving some proactical courses.
The more experienced try to lead the less experienced to get closer to the teachings and also to use a proper tool set, to get the teachings right.

And there is the most interesting part in every Research Lab: Countless spontanous meetings around the Coffee automat, the xerox machine or at any other place, when people meet to discuss new ideas, discovories, scientific news, but also about politics family and so on ...
At least that is the way I see the thread for some time now....

Quoting FX Plankton
Hello MaMood,

I do very much appreciate your comments.

[...]

*Different Interpretations*
As it happens with many excellent books (e.g. Sacred Scriptures), the Interpretation of AOW appears different to different people.
For example, I was recently told in this Thread that FX Trading is a Marathon.
The concept of Marathon is misleading as this implies a Protracted War & Battles (Strategy & Tactics).
[...]
I think that is a simple misunderstanding. Not the trading session it self is a Marathon, but becoming a successful trader and also to build up your account. Often summarized with ants work too.

Quoting FX Plankton
* K I S S * (Even FTI says so)
I believe that posting Blotters is a good idea but I also believe that too much posting of the same creates confusion and keeps eating valuable space (that goes down in value as the postings keep going on the tangent).
For the newbies (like me), it appears more useful (educationally-speaking) posting the time-dependent charts with points of entries and exits (maybe with some explanatory labels). I have seen very few charts like this in this Thread. This approach shows the Price Action at the moment of entry and exit....
I would consider a blotter just as what you are asking for (like charts), only another type of presentation. Yeah it takes some time to chosse the right timeframe and chart to be able to follow the actions on a chart. When your charting package offers something like charts with all your entries and exits already inside - fine. But if not it is much much work for the trader to illustrate every single trade. Yeah, it could be easier for the students, but there could also be no one willing to share his blotters ...


Quoting FX Plankton
[...]
This is why I highly value the work done by the History Channel (HC) on AOW (available at YouTube or elsewhere).
I also like to note that despite the availability of this work in HC, as of Jan 2010 I have not seen a posting making reference to this video.
The HC work is important because it gathers the opinion of respectable experts. Of course, if one chooses to abide by the Great Chairman Mao's Teachings (and his fantastic Cultural Revolution), then the HC work is no good.
I have watched the series of tubes over the weekend. I have to say, it is nice and somehow entertaining, but it only scratches the surface of all the insights of AOW. So to really make the benefit out of it, that is the underlying to fti'S teachings, you have to read the book.

BTW: Cool idea to rewrite, compress and condense all the deep knowledge presented by fti and others. And maybe the only possible way to do it, to keep the spirit of fti's selfless, kind and patient presentation alive: Do it for free, publically somewhere in some wiki-like infrastructure. As soon as it gets a commercial product it would violate the idea of this thread strongly.

I like your way of structured posting.
And please do not feel offended in any way - that is by far not my intension.

All the best,
Niels.
  • #24,124
  • Apr 3, 2011 3:04pm Apr 3, 2011 3:04pm
Quoting FX Plankton
Hello MaMood,

I do very much appreciate your comments.

*Introduction*
To further understand 'where I am coming from' I must point out that I am now at Page 839 (Jan 10, 2010).
I already said that I am a newbie (I maintain that concept).
I have been analyzing time-dependent charts (mostly related to heart diseases), since 1970s.
I have developed an eye for time frames that go from months, days, seconds, milliseconds, microseconds, etc.
Thus, over these many years I have a conditioned reflex (Pavlov's concept) on how to capture events at different...
Hi FX Plankton

I'm looking for words to answer.
You write about my paintings and pictures.It's like art as trading.I can not teach you, I can only humble attempt.It is 10% talent and 90% enthusiastic work (10 000hours is champion).
Words are "idea in cave".
AOW is the basic idea, the enemy is already defeated before the fight.AOW specifies the general rules under which "the winner is obvious to me in advance" says SunTzu ... BUT NO SPECIFIES CONCEPT!Therefore, it is ART.
You want to make a summary art?Then it will work "Trading Robot", but I do not believe this work.Person has a opinion and God has change.
Historical results create confidence BUT! your signature in the fiber is the best strategy (I like Forrest Gump "„Life is like a box of chocolate, you never know what you gonna get“)

Rgs

PS Welcome to the hell of his own egor
  • #24,125
  • Edited 4:53pm Apr 3, 2011 4:35pm | Edited 4:53pm
MaMood said:

"Hi again Plankton,

there is nothing wrong with your personal view of the sense and nonsense of a thread like this.
But maybe you could benefit more from it, when you
see the people here as a group of friends (or family), who give feedback to each other, just to help to improve more.
Or to spot slight or massive deviation from the teachings"

Thanks, it's like with me ...
I do the same in accordance with the teachings of the FTI (three kingdoms, scout, rescue, sequences,
but in a shorter time (TF seconds), but I'm not accepted by this topic ...
I do not know what's going on, but I do own and I am grateful for the FTI learning - thanks FTI

1-2% risk capital
2-5% daily profit of capital
R / R 1:2
  • #24,126
  • Apr 3, 2011 4:39pm Apr 3, 2011 4:39pm
Hi Gro ,
I remember very inspiring your posts ... thanks ...
  • #24,127
  • Apr 3, 2011 4:59pm Apr 3, 2011 4:59pm
Quoting Gro
Hi FX Plankton

I'm looking for words to answer.
You write about my paintings and pictures.It's like art as trading.I can not teach you, I can only humble attempt.It is 10% talent and 90% enthusiastic work (10 000hours is champion).
Words are "idea in cave".
AOW is the basic idea, the enemy is already defeated before the fight.AOW specifies the general rules under which "the winner is obvious to me in advance" says SunTzu ... BUT NO SPECIFIES CONCEPT!Therefore, it is ART.
You want to make a summary art?Then it will work "Trading Robot", but...
_________________________________
Dear Gro,
Thanks indeed for your comments.
Especial thanks for identifying one of my favorite quotes from Forrest's mom.
I am only at Page 908 of Thread (Posting #13606).
I still have a long way to go.
Given the various factors taught here (MM, MO, Mindset, etc) the basic idea is to identify the 'Weakest Link' (Entry) in the Chain (Market Price Action).
This is a concept that has been used in War, Politics, Martial Arts, etc.
Two examples come to mind: (1) forced government changes from one party/group to another and (2) a small person defeating a giant (like in David & Goliath).
I would like to clarify that both my parents were artists (painter/sculptor & soprano at the opera). This is why I do appreciate Art. The rest of my relatives were medical doctors, engineers, etc. This is why I do appreciate Science.
A good example of how the 2 mix (an example I frequently give to my students) is given by Surgeons. I have known surgeons who use the same textbook but their results are quite different (i.e. patient dead or alive).
I will keep this posting short as I am trying to get to read the whole Thread before next Sunday.
Before I leave, I again would like to remind the reader that my comments are intended to be of use to the Thread (i.e. not negative, destructive criticism). Whether Ego is involved is for those who know me to decide. For decades I have been expert reviewer for several important agencies and scientific journals. I have never offered my opinion on Forex to anyone (more so because here nobody asked me - but I feel indebted to FTI and the Good People in This Thread). I only have tried to add my small grain of sand to the Forex Universe.
Thanks again for the patience and tolerance.
Best Wishes to You and Those Who Try To Help Out!
Plankton
"Life is like a box of chocolates."
  • #24,128
  • Edited 6:10pm Apr 3, 2011 6:08pm | Edited 6:10pm
Quoting gart
I do the same in accordance with the teachings of the FTI
(three kingdoms, scout, rescue, sequences),
but in a shorter time (TF seconds),
but I'm not accepted by this topic ...
I do not know what's going on,
but I do own and I am grateful for the FTI learning - thanks FTI

1-2% risk capital
2-5% daily profit of capital
R / R 1:2
Dear Gart,
I think that the problem with R/R (TP/SL) is the Probability at short Time Frames (TF) or Time Scale (TS).
As you reduce the TS (in your example is seconds), the Probability to hit the target is reduced (due to the price oscillations - e.g. imagine 2D Brownian motion - the longer you stay the higher the probability to hit a point - the converse, your case, applies too).
So, although Theoretically possible in your case, it does not have much appeal to have RR, what has shown to FTI that works is the 5 min TF.
As I said, I am a newbie in Forex.
However, I have worked a few decades on Time-Dependent Statistics of Fluctuating Phenomena (I know Chairman Mao would not approve of this).
So, your R/R (1:2) does not seem to follow FTI concepts (unless you made a mistake in your claim of working in the Seconds scale when in reality you have a Mix of Time Scales: from Seconds to Minutes to Hours).
I am tempted to think that if you are successful, your claim of R/R=1/2 is not correct.
Before I keep going on with my Lecturing, I better finish by reminding that I have brought to the attention the Concept used by many of "High Probability Setups". This concept appears to have bearing on your question.
In my readings throughout the past few months, I have not found a scientifically sound argument (i.e. quantitative) that supports such claims (i.e. nobody shows how they calculate probability - a step which should preced such claims).
Having R/R=1/2 does not imply that you have a probability of success of 66%, 50%, etc, because the concept has to be placed in the context of Momentum, Range, Variability (Price Noise), Delta, Vega, Beta, Gamma and other Greek-Letter parameters I have no clue about (i.e. Time-Dependent Changes in PA).
Furthermore, the R/R appears to contradict the Rescue approach because it implies that you have used TP & SL to calculate R/R.
Remember, I am a newbie so I (and you) should not be surprised that I make mistakes from time to time.
Well... I hope my comments got you thinking on whether you follow FTI Approach or not...
Signing Off + Over-&-Out (going on to read Page 912 and more)
Best!
Plankton
"Life is like a box of chocolates."
  • #24,129
  • Edited 7:53pm Apr 3, 2011 7:51pm | Edited 7:53pm
Hello MaMood,
Regarding Blotters.
I am just enclosing a small piece of the Small Dances I just did.
=====================================
NOTE: I used the minimal amount allowed to please those who may think I am too aggressive for my own good.
=====================================
This Blotter is a continuation of my Blotter on Friday.
It is Sunday, so I am not eager to do much trading,
especially when I am trying to finish reading the Thread.
Best!
Plankton
*** NOTE ON DANCE(S) ***
Martial Arts Schools train their students different types of Dances.
The idea is to create Conditioned Reflexes (Pavlov's concept).
Thus, at the time of the Combat,
the fighter does not think but acts solely on Reflexes.
The advantages (in Hand-to-Hand Combat) is that this cuts-down the human response time (Latency in Networking).
Response time is the time that it takes for a nerve electrical impulse to go to the central processing unit (Central Nervous System) and return to the Effector (Skeletal Muscle). With good training, this time is under 5 milliseconds (including the start of the muscle contraction).
What is the point?
This is how I interpret FTI's message on Dancing.
There shall be different types of dancing for different situations.
One has to be ready for it when the time comes.
Sorry for the Lecture (can't get the teaching reflex out of me).
Attached Image (click to enlarge)
Click to Enlarge Name: 110403_2424hGMT_Plankton_Demo_Blotter_Intraday.jpg Size: 102 KB
"Life is like a box of chocolates."
  • #24,130
  • Apr 4, 2011 12:29am Apr 4, 2011 12:29am
Any Friends trading here...

I am trying to catch a shooting star....with AU...shorting AU...


V
  • #24,131
  • Edited 1:25am Apr 4, 2011 12:45am | Edited 1:25am
I see your shooting star... but it's not a clear trade south from where I'm sitting, maybe others will back you up on this, I would be cautious. AUD has been a solid performer in my books and I can't feel anything which has changed which would suggest that it's likely to reverse. I'm talking from a longer term perspective here but still... even on a shorter term, I don't see a definite short but nor do I see a definite long. I think 50 50 at this stage. Interested in what others think and wishing you luck on the trade.

P.S. Long GBP... got out on a partial up gap thinking it was exhaustion and second later the price jumped as can be seen so back in it... unfortunately not at the same good level but I think it can go higher at least till the end of the day.
  • #24,132
  • Apr 4, 2011 12:51am Apr 4, 2011 12:51am
Quoting Atomic_Sheep
I see your shooting star... but it's not a clear trade south from where I'm sitting, maybe others will back you up on this, I would be cautious. AUD has been a solid performer in books and I can't feel anything which has changed which would suggest that it's likely to reverse. I'm talking from a longer term perspective here but still... even on a shorter term, I don't see a definite short but nor do I see a definite long. I think 50 50 at this stage. Interested in what others think and wishing you luck on the trade.

P.S. Long GBP... got out...

i know sometime i like to play....

V
  • #24,133
  • Apr 4, 2011 1:27am Apr 4, 2011 1:27am
Quoting FX Plankton
Hello MaMood,
[...]
*** NOTE ON DANCE(S) ***
Martial Arts Schools train their students different types of Dances.
The idea is to create Conditioned Reflexes (Pavlov's concept).
Thus, at the time of the Combat,
the fighter does not think but acts solely on Reflexes.
The advantages (in Hand-to-Hand Combat) is that this cuts-down the human response time (Latency in Networking).
Response time is the time that it takes for a nerve electrical impulse to go to the central processing unit (Central Nervous System) and return to the Effector (Skeletal Muscle)....
Hi and good morning Plankton,

what you have described above is well know here in the thread. We call it "something is getting second nature". Yeah and the benefits are exact what are describing above: reflex like reaction to trained situations.

Hmmmh - I'm feeling not too convinient to set this equal that the meaning of dancing. I guess dancing is to follow the flow of the charts. The rythm of the swings and developing candles. Main ingredient is the momentum.

Momentum is also the element, that let's me tend to not agree with your answer to gart about shorter time frames. When you spot something like an massive increase of momentum - relating to the concept of inertia of masses & Newtons laws - with ongoing time the strength of that pulse is going to fade.

Well - an increase in momentum on M1 chart may not even show up on an hour chart. So I think the TF's for measurement and usage of the discoveries should be in the same dimension ...

However - wish you a great start into the new trading week!

Niels
  • #24,134
  • Apr 4, 2011 1:36am Apr 4, 2011 1:36am
I know I said I wouldn't post anymore but I'd like to make one comment on the posts by FX Plankton and some of the others from relative newcomers to the thread in the last couple of weeks...

Firstly, FX Plankton, I am sure from looking at your blotter from Friday that if you made over 22% in one day then the positions that you took were far too large relative to the size of your account. The risk of ruin would be too great if you traded like that with real money. Just by looking at this one aspect of your example, I am 100% sure you are not following all the advice in this thread, even if you think that you are.

Secondly, whilst it might sound like a good idea to summarise the teachings of the thread, I don't think it is.

For a start, those who struggled through the presentation and then attempted to put the theory into practice would have gained new insights from their own practical experience so their summaries would necessarily have a personal slant to them that might deviate from whatever fti was trying to put across.

This point is important as fti never intended to create replicas of himself so each person that follows the trading advice in this thread will probably have their own unique style to fit their personality, capitalisation and any time constraints that they may have with regard to trading hours. Therefore, their style may not suit others.

Whichever poster summarises the lessons is likely to leave out the things that are obvious to them but which might not be obvious to others, and to place more importance on concepts that they found difficult to grasp, which might come more easily to others.

Fti explained at the beginning of the thread that he was basically giving us a 2 year course in a matter of weeks. I believe that any attempt to condense it even further would be misguided. Anybody that does not have the stamina to work their way through the thread and the intelligence to draw their own conclusions is not going to have the necessary mindset to follow this trading approach, in my opinion (that's not meant as an insult or directed at anyone in particular).

Two stories from the thread come to mind when I think of condendsing this thread for the benefit of future readers.

One is the moth and the chrysalis: try to make it too easy for others and they may well not survive because they did not go through the struggle that is necessary to ensure the correct mindset and complete understanding.

The other is not so much a story as an analogy, the bucket of water and the river: Trying to create a concise version of this thread that includes all the salient points and excludes what looks like unnecessary verbiage might well achieve the same result as trying to capture a river in a bucket. You will walk away with a small bucket of ideas and leave the river of knowledge behind.

Lastly - and this is purely my own opinion - whilst more experienced members might be happy to point newcomers in the right direction and help them if they cannot grasp a particular point (as posters such as Zoran and Auxesis have done for me on several occasions), I think that most of them would expect others to put the same effort into learning the concepts as they did.

Now I, as someone else said recently, will get back in my box and shut up.
  • #24,135
  • Apr 4, 2011 1:42am Apr 4, 2011 1:42am
Thank you UKmanthailan, I was trying to figure out what I was observing about the most recent posts in this thread and you opened my eyes completely. I've been skipping most of non fti's threads when I was reading this thread from the very start because I was unsure but I felt like other peoples information was simply wrong, now I know that it wasn't wrong but it was full of personal experiences which do not help individuals very much as they don't fully understand the perspective that those people are contributing from. You sense somoething is amiss but can't quite put your finger on it so you generlise it as all simply being wrong and misleading information, the reality is a lot closer to what you pointed out.
  • #24,136
  • Apr 4, 2011 1:44am Apr 4, 2011 1:44am
Very well said.

Quoting ukmanthailan
I know I said I wouldn't post anymore but I'd like to make one comment on the posts by FX Plankton and some of the others from relative newcomers to the thread in the last couple of weeks...

Firstly, FX Plankton, I am sure from looking at your blotter from Friday that if you made over 22% in one day then the positions that you took were far too large relative to the size of your account. The risk of ruin would be too great if you traded like that with real money. Just by looking at this one aspect of your example, I am 100% sure you are not following...
  • #24,137
  • Apr 4, 2011 1:46am Apr 4, 2011 1:46am
Quoting ukmanthailan
I know I said I wouldn't post anymore but I'd like to make one comment on the posts by FX Plankton and some of the others from relative newcomers to the thread in the last couple of weeks...

Firstly, FX Plankton, I am sure from looking at your blotter from Friday that if you made over 22% in one day then the positions that you took were far too large relative to the size of your account. The risk of ruin would be too great if you traded like that with real money. Just by looking at this one aspect of your example, I am 100% sure you are not following...

Nice post UK
  • #24,138
  • Apr 4, 2011 1:56am Apr 4, 2011 1:56am
Quoting ukmanthailan
I know I said I wouldn't post anymore but I'd like to make one comment on the posts by FX Plankton and some of the others from relative newcomers to the thread in the last couple of weeks...

Firstly, FX Plankton, I am sure from looking at your blotter from Friday that if you made over 22% in one day then the positions that you took were far too large relative to the size of your account. The risk of ruin would be too great if you traded like that with real money. Just by looking at this one aspect of your example, I am 100% sure you are not following...
  • #24,139
  • Apr 4, 2011 2:06am Apr 4, 2011 2:06am
Looks like I'm in rescue mode, saw the increased volatility but wasn't sure what it was telling me... looks like I know now

P.S. I'm still totally confused by how you're meant to analyse different markets at the same time. Confuses the heck out of me (well I think I just don't know what information to look for when looking at various markets or maybe just don't know what can be gleaned from looking at multiple markets). Sometimes pairs go together, other times, they go against (correlations), sometimes one goes up more than the the other, other times one just stops going up while the other continues. I'm looking at GBP, JPY and EUR (with EUR being the one that I used to be most familiar with as it was the only that I traded) but yer, this sort analysis doesn't seem to be helping me at the moment. Any tips?
  • #24,140
  • Apr 4, 2011 2:24am Apr 4, 2011 2:24am
Quoting ukmanthailan
I know I said I wouldn't post anymore but I'd like to make one comment on the posts by FX Plankton and some of the others from relative newcomers to the thread in the last couple of weeks...

Firstly, FX Plankton, I am sure from looking at your blotter from Friday that if you made over 22% in one day then the positions that you took were far too large relative to the size of your account. The risk of ruin would be too great if you traded like that with real money. Just by looking at this one aspect of your example, I am 100% sure you are not following...
well said UK, my sentiments also.

Rgs,
Baifu
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