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Technical Analysis Fallacy

  • #24,181
  • Edited 6:44pm Apr 4, 2011 4:55pm | Edited 6:44pm
Quoting Gro
Hey General!

"water is invincible ..."

Blessing your way and "steel of balls"! (trading sense).

PS "spirit of the spirit, water of the spirit, fire of the water."
@everyone

@Sylar @Gro,

amazing love and respect....




V
  • #24,182
  • Edited 9:49pm Apr 4, 2011 6:54pm | Edited 9:49pm
what a love............

any news going around???....


USD bears sure would be running for cover....

anyone out there...


V
  • #24,183
  • Edited 10:23pm Apr 4, 2011 10:01pm | Edited 10:23pm
Party in india

http://www.facebook.com/v/10150160055093305
  • #24,184
  • Apr 4, 2011 11:32pm Apr 4, 2011 11:32pm
Quoting indianguyinny24
Can you sit 10 min with eyes closed ?

Seems like too much is going in your head.


V

Well you can see right through me then because my head is as you noticed... a mess . This however is merely a slowing agent in my learning and not a brick wall.

And good luck with trading full time!
  • #24,185
  • Apr 4, 2011 11:32pm Apr 4, 2011 11:32pm
Quoting indianguyinny24
Party in india

http://www.facebook.com/v/10150160055093305
Good Morning Vick!

Hope you are doing well.
All the best with your full time trading again.

Seems the possibility of a TAF Traders Network is closer, than I was expecting.

Have to make breakfast for my little son now.
Will be back, when he has left for Kindergarten in 1.5 hours or so ...

CU,
Niels
  • #24,186
  • Edited 1:21am Apr 5, 2011 12:00am | Edited 1:21am
Quoting HpC
My problem is I am reluctant to take losses.
I am improving as we speak, I think...
Can't exactly say I'm cured but at least I think I'm a lot better than when I started. I think the first thing that makes you realise a small loss is better than a big one not in hind sight but right there and then when you still have that small loss is when you lose a lot, you simply start to realise that you simply can't afford to make big losses. It's a bit like a budget, only after you've written it up after diligently writing down all your expenses for a month, when you realise that firstly lots of small things matter but also how much a negative mark in the budget actually stings and how much better off you would have been had you not bought that trinket. With each passing month you become more and more frugal. Same with this... with experiences of making losses, as you look back on some of them, you will realise this in due course.

Secondly, a thing which helped me formalise the idea of a small loss is better than a big one (other than my experience) was fti's teaching in the earlier part of the thread i.e. ... (damn, forgot his words of wisdom... prety sure it was something to do with your word reluctant, will get back to edit this post once I read over it again, might be a while might not).
  • #24,187
  • Apr 5, 2011 12:05am Apr 5, 2011 12:05am
[quote=indianguyinny24;4520297]Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.

And way job market looks i might have to stay for a while so guess what i gonna do?

Well i guess welcome to full time traders party....

Starting next Monday please acknowledge me as a NEWBIE as in Full time Trader till i get a job....

Any input/suggestions are welcome...

Hi Vick. I wish you quick success and welfare in a new career:-). Once more, congratulations. Fana
  • #24,188
  • Apr 5, 2011 12:45am Apr 5, 2011 12:45am
Quoting indianguyinny24
Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.

And way job market looks i might have to stay for a while so guess what i gonna do?

Well i guess welcome to full time traders party....

Starting next Monday please acknowledge me as a NEWBIE as in Full time Trader till i get a job....

Any input/suggestions are welcome...



Thanks
V
Good luck and stay nimble. Don't force it.
  • #24,189
  • Edited 1:02am Apr 5, 2011 12:47am | Edited 1:02am
@niels,fana,atomic and Piccolo...

thanks for the word....

will see how this transition will work.........


V
  • #24,190
  • Apr 5, 2011 1:18am Apr 5, 2011 1:18am
Here's a question:

What would be the technical indicator equivalent for a real battlefield?

I'm thinking of two examples:

1.) number of casualties per platoon/company after 1 hour/1 day etc

2.) distance travelled by platoon a, b c or d.
  • #24,191
  • Apr 5, 2011 1:18am Apr 5, 2011 1:18am
Quoting indianguyinny24
Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.
remember long time ago i told u that i thought its impossible to take daytrading as a part time n be profitable in it ? finally ur path answered my question
i really hope u shift into a fulltime trader
To Live is the rarest thing in the world , Most people exist , that is all
  • #24,192
  • Apr 5, 2011 1:23am Apr 5, 2011 1:23am
Quoting maheswara
remember long time ago i told u that i thought its impossible to take daytrading as a part time n be profitable in it ? finally ur path answered my question
i really hope u shift into a fulltime trader


Well it was a hard ride wont lie .....slept like 3-4 hours so many weekdays that i dont remember having an 8 hour sleep for 3 days straight....


but if u ask me i guess for me it was RIGHT WAY to learn....day job takes care of the money and trading was giving partial results....

Rest now should be the interesting part when we go full time


V
  • #24,193
  • Apr 5, 2011 1:38am Apr 5, 2011 1:38am
Quoting indianguyinny24
Well it was a hard ride wont lie .....slept like 3-4 hours so many weekdays that i dont remember having an 8 hour sleep for 3 days straight....

but if u ask me i guess for me it was RIGHT WAY to learn....day job takes care of the money and trading was giving partial results....

Rest now should be the interesting part when we go full time

V
true , learning the basics , finding ur niche , those can be done part time

but mastering it takes a hell of practice , some said 10k hrs ? so even if u trade 10hrs a day it will still take years
To Live is the rarest thing in the world , Most people exist , that is all
  • #24,194
  • Apr 5, 2011 2:26am Apr 5, 2011 2:26am
Quoting maheswara
true , learning the basics , finding ur niche , those can be done part time

but mastering it takes a hell of practice , some said 10k hrs ? so even if u trade 10hrs a day it will still take years
Assuming trading 8hrs/day every single biz day (48wks x 5days = 240 days)

It would take abt 10,000/(8 x 240) = 5.2 yrs

If u trade part-time assuming 4hrs/days then it would required approx 10yrs

I better start clocking my trading hours

Pip Well Guys
Philip
"Thinking Heart & Feeling Brain"
  • #24,195
  • Apr 5, 2011 2:54am Apr 5, 2011 2:54am
Quoting indianguyinny24
Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.

And way job market looks i might have to stay for a while so guess what i gonna do?

Well i guess welcome to full time traders party....

Starting next Monday please acknowledge me as a NEWBIE as in Full time Trader till i get a job....

Any input/suggestions are welcome...



Thanks
V
Sorry to hear that dude, but at least you'd be doing something you love(trading) full time .
  • #24,196
  • Apr 5, 2011 4:01am Apr 5, 2011 4:01am
Quoting Sylar
Assuming trading 8hrs/day every single biz day (48wks x 5days = 240 days)

It would take abt 10,000/(8 x 240) = 5.2 yrs

If u trade part-time assuming 4hrs/days then it would required approx 10yrs

I better start clocking my trading hours

Pip Well Guys
Philip
... do not be rigid Sylar , the day has 24 hours ... sometimes 36 hours
  • #24,197
  • Apr 5, 2011 4:21am Apr 5, 2011 4:21am
Quoting Gro
... do not be rigid Sylar , the day has 24 hours ... sometimes 36 hours
How do you do that - 36 hours, Gro?
The only thing I know for sure is,
that my days are always 12 hours too short ...

  • #24,198
  • Apr 5, 2011 4:22am Apr 5, 2011 4:22am
Quoting MaMood
How do you do that - 36 hours, Gro?
The only thing I know for sure is,
that my days are always 12 hours too short ...

some people count the "day" as from the time you get up till the time you go to sleep.

better name would be a "session"
  • #24,199
  • Edited 8:09am Apr 5, 2011 4:33am | Edited 8:09am
Quoting indianguyinny24
Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.

And way job market looks i might have to stay for a while so guess what i gonna do?

Well i guess welcome to full time traders party....

Starting next Monday please acknowledge me as a NEWBIE as in Full time Trader till i get a job....

Any input/suggestions are welcome...



Thanks
V
Hello Vick,
Currently Price is high, Jobs are tough, it cheaper to choose a lower cost of life style/location and trading, than hunting for another job unless the new job is great.

As a full time trader, I think the first thing you might need to do is to split your capital into several parts. I burn all my capital at the beginning 3 years when I didn't really know how to trade. Now I know how, but no gas.

Every trader knows not to risk x% of something. I wasn't stupid. But in practise, being employed and unemployed, the feeling is different. Being used to a monthly salary, your feeling is "later I will add some...", till a long time later, you'll start notice there is no salary streaming into your pocket. So, your income is fixed at your trading performence. For every cent you lost in the market, you will need to gain it back in the market, no where else to recover, and you know the Recovery table (in the early pages of this thread), you need cap to recover cap. --So, maybe -- split cap into 1 1 2 ---a skew, I wish I had done this.
  • #24,200
  • Apr 5, 2011 4:55am Apr 5, 2011 4:55am
Full time trading is not something to be taken likely; even if you have good performance trading part time. There are a few issues that one need to tackle, some of them are:

1. You income is not fixed, but expenses are there whether you have a good trading month/week or not. Meeting expenses when you are on a rough patch trading is adding oil to fire, and can create downward spiral.

2. Once you are "unemployed", you loss all the benefits that that full time employee enjoys - things like PAID leave, allowance, insurance, medical etc.

3. To add to the above problem, you generally loss proof of income that enable you to get housing and other loans. I am not sure how severe it is in you context/country, but in sg, getting a house/flat without loan is nearly impossible.

I read years ago Guppy suggestion on full time trading: graduating. Meaning one should start with part time trading, and trading result is good and sustainable over years, till part time trading profit is more than what your full time job is paying you, then consider trading full time. Otherwise, hang on to a job, even it is a part time job. The certainty of weekly/monthly income is something not to forgo lightly.

In view of point 2 above, it is better that your trading profit more than you employment income. Alternatively, you have a spouse that has a job, or you have some kind of fixed income (rental income etc), it helps even it does not cover all the expenses. At lease it relief some pressure.

And if you foresee you will need bank loan for housing/education/kid's education etc, or you are getting married or whatever, do evaluate your life plan carefully before thinking full time trading is the best.

Of course it is obvious that if your trading income is VERY much more than your current employment income, then all the above are not of concern.

Just my 2 cents.

Quoting indianguyinny24
Well last week our group had a big massive layoff . And i was included in that . So long story short my last day is on Friday.

And way job market looks i might have to stay for a while so guess what i gonna do?

Well i guess welcome to full time traders party....

Starting next Monday please acknowledge me as a NEWBIE as in Full time Trader till i get a job....

Any input/suggestions are welcome...



Thanks
V
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