Technical Analysis Fallacy

Hi Cat and welcome to a unique trading community. Please take the time to read the first 200 pages of this thread before posting too many more of your strong positions about trading. Putting this into perspective, you have been making mistakes for 2 years, fti has been trading for the better part of his life. He has seen hundreds of his trading trainees make all the mistakes you have made and then some, so please settle down, take a deep breath, and start reading. We all use TA in our trading (some more than others), but with fti's patient instructions, we have learned much more about being traders than just trading skills. Good luck and I hope you decide to join us.

If you walk into discussions with each person who crosses your path,
you will never reach your destination. You waste your time...

The water that you will not drink, let it run.

Textor

OK mike, I'll shut up. Thank heavens we're all different, and though I don't doubt the wisdom of Fti who is obviously highly regarded here, this particular post caught my eye because I am a great believer in the efficacy of TA, above all else initially, for my particular style of trading.

Good to hear from you!
Tim

Hi Textor, Hope you are trading well. Just wanted to tell you that these are by far the deepest thoughts I've read today -- LOL. Well said!

Hi,

I'm impressed by your statement!
Respect!


Alles Gute, Textor!

CU,
Niels

NFP in 20 minutes. I hate NFP days!

And I love it
But please don't kill me now, after my coming out ...

hey tex,
ya holding cash aud not seem a bad investment.
I don't see holding usd is going yield much in the long run.
Is no longer asset, is depreciating asset, so is more like a liability.
But of course we can still trade the usd.
Until heli finds a way, from his books to figure a way out of the hole the us economy is in, is hard times ahead.
I personaly feel he had exhausted all forms of monetary manouvers and the problems the us economy is facing is not rooted in monetary policys.
But his blantantly printing it to dig out of this hole is not help 1 ioata.In fact i feel sorry for the american children who will have to shoulder this baggage made. Suffer a couple generations just to satisfy the exploded bubble bad credit made.

regards

ok your helmets on.
this ttime i am just spectator.

Usually trade one out of four of these, so maybe today is the day. Canada announced really good job figures about an hour ago. Looking at the CAD, JPY, and the euro, which means that I will probably trade the GBP -- LOL.

hi triger88990,
so far oanda is a "good" broker i have delt with, except the 30pips spread on G/U they give me form time to time. but i don't have much experience with brokers.
hi all,
it's a good trading day today, wish you have made a killing in the morning and during NFP release time.
have a great weekend!
regards

Hello all,

I chanced upon this tread one day and have been reading this thread every night since.

It has come to a stage that i don't want to finish it but want to join in and grow together with this thread instead.

I will like to express my thanks and gratitude to fti for your selfless teachings and guidance, and to all those who have contributed constructively to the thread.

It is an honour, to be part of this dance class/military outfit.

With that, I check in!

This is VERY valuable advice. There was a comment made some time ago that this thread provided the answer to finding yourself in "hope" mode when you know you are in a loser. Following FTI's advice IMHO is the BEST remedy. Bail as quickly as possible and with the least loss possible so you can regain objectivity. As long as money is on the line, your decision making process will be skewed...and once hope is in play, you are lunch meat. Don't know how much time it takes for the mind to go into defensive mode against the pain of losing (and that pain is real) by triggering hope, but, as efficient as we know the human body and mind to be, make the decision to cut losses as quickly and as minimally as possible and rethink your strategy. Do a double-tap on the right foot if necessary to get the rhythm of the march back.

Thanks again FTI...reading through the earlier pages again. Trying to read the first 200 pages that have been touted so much...such good stuff for traders to read here...and so much time in the day.

Will keep trying to get there .

Wishing you continued recovery.

FX4

So true Gene22...these subtleties are part of becoming a successful trader. I think managing emotional equity has more far reaching effects sometimes than just thinking about the $$$ in the account. Glad to see it mentioned here...sometimes you think, "Is this just me...", then you see a post like this and you realize, "Okay, I can relate." Just another way for traders to be encouraged.

Good stuff.

FX4

Saw this link...can't recall where now (sorry)...very motivational for the mindset of those wanting to win.

http://www.youtube.com/watch?v=gWn5jwguQAk

FX4

hi guys, I am sorry to interrupt but it has been a while due to studies and I was unable to post earlier.

fti, I am seeking a topic for my thesis and I think that fractional pips and predatory acts by retail forex brokerages is a serious issue. But first of all, I need evidence (data) to run tests on. Any idea how I can go about this?

If time permits I would like to go deeper into this subject

Also, why is there no attempt to set up an honest retail brokerage? Is it just greed that they end up engaging in these acts, or out of necessity to stay competitive? If a brokerage is known for integrity, I think they would have good volume..

Genesis 4:10 The Lord said, “What have you done? Listen! Your brother’s blood cries out to me from the ground. 11Now you are under a curse and driven from the ground, which opened its mouth to receive your brother’s blood from your hand. 12When you work the ground, it will no longer yield its crops for you. You will be a restless wanderer on the earth.”

13Cain said to the Lord, “My punishment is more than I can bear. 14Today you are driving me from the land, and I will be hidden from your presence; I will be a restless wanderer on the earth, and whoever finds me will kill me.”

15But the Lord said to him, “Not soe; if anyone kills Cain, he will suffer vengeance seven times over.” Then the Lord put a mark on Cain so that no one who found him would kill him. 16So Cain went out from the Lord’s presence and lived in the land of Nod,f east of Eden.

17Cain lay with his wife, and she became pregnant and gave birth to Enoch. Cain was then building a city, and he named it after his son Enoch. 18To Enoch was born Irad, and Irad was the father of Mehujael, and Mehujael was the father of Methushael, and Methushael was the father of Lamech.

19Lamech married two women, one named Adah and the other Zillah. 20Adah gave birth to Jabal; he was the father of those who live in tents and raise livestock. 21His brother’s name was Jubal; he was the father of all who play the harp and flute. 22Zillah also had a son, Tubal-Cain, who forged all kinds of tools out ofg bronze and iron. Tubal-Cain’s sister was Naamah.

23Lamech said to his wives,

“Adah and Zillah, listen to me;

wives of Lamech, hear my words.

I have killedh a man for wounding me,

a young man for injuring me.

24If Cain is avenged seven times,

then Lamech seventy-seven times.”

25Adam lay with his wife again, and she gave birth to a son and named him Seth,i saying, “God has granted me another child in place of Abel, since Cain killed him.” 26Seth also had a son, and he named him Enosh.

At that time men began to call onj the name of the Lord.

Matthew 7:3

3And why beholdest thou the mote that is in thy brother's eye, but considerest not the beam that is in thine own eye?

4Or how wilt thou say to thy brother, Let me pull out the mote out of thine eye; and, behold, a beam is in thine own eye?

5Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother's eye.

6Give not that which is holy unto the dogs, neither cast ye your pearls before swine, lest they trample them under their feet, and turn again and rend you.

7Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you:

matthew 7:16

16And, behold, one came and said unto him, Good Master, what good thing shall I do, that I may have eternal life?

17And he said unto him, Why callest thou me good? there is none good but one, that is, God: but if thou wilt enter into life, keep the commandments.

18He saith unto him, Which? Jesus said, Thou shalt do no murder, Thou shalt not commit adultery, Thou shalt not steal, Thou shalt not bear false witness,

19Honour thy father and thy mother: and, Thou shalt love thy neighbour as thyself.

20The young man saith unto him, All these things have I kept from my youth up: what lack I yet?

21Jesus said unto him, If thou wilt be perfect, go and sell that thou hast, and give to the poor, and thou shalt have treasure in heaven: and come and follow me.

22But when the young man heard that saying, he went away sorrowful: for he had great possessions.

23Then said Jesus unto his disciples, Verily I say unto you, That a rich man shall hardly enter into the kingdom of heaven.

24And again I say unto you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.

Luke 6:36

36Be ye therefore merciful, as your Father also is merciful.

37Judge not, and ye shall not be judged: condemn not, and ye shall not be condemned: forgive, and ye shall be forgiven:

38Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom. For with the same measure that ye mete withal it shall be measured to you again.

39And he spake a parable unto them, Can the blind lead the blind? shall they not both fall into the ditch?

40The disciple is not above his master: but every one that is perfect shall be as his master.

41And why beholdest thou the mote that is in thy brother's eye, but perceivest not the beam that is in thine own eye?

42Either how canst thou say to thy brother, Brother, let me pull out the mote that is in thine eye, when thou thyself beholdest not the beam that is in thine own eye? Thou hypocrite, cast out first the beam out of thine own eye, and then shalt thou see clearly to pull out the mote that is in thy brother's eye.

43For a good tree bringeth not forth corrupt fruit; neither doth a corrupt tree bring forth good fruit.

44For every tree is known by his own fruit. For of thorns men do not gather figs, nor of a bramble bush gather they grapes.

45A good man out of the good treasure of his heart bringeth forth that which is good; and an evil man out of the evil treasure of his heart bringeth forth that which is evil: for of the abundance of the heart his mouth speaketh.

46And why call ye me, Lord, Lord, and do not the things which I say?









Matthew 6:5
5And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward.

6But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.

7But when ye pray, use not vain repetitions, as the heathen do: for they think that they shall be heard for their much speaking.

8Be not ye therefore like unto them: for your Father knoweth what things ye have need of, before ye ask him.

9After this manner therefore pray ye: Our Father which art in heaven, Hallowed be thy name.

10Thy kingdom come, Thy will be done in earth, as it is in heaven.

11Give us this day our daily bread.

12And forgive us our debts, as we forgive our debtors.

13And lead us not into temptation, but deliver us from evil: For thine is the kingdom, and the power, and the glory, for ever. Amen.

14For if ye forgive men their trespasses, your heavenly Father will also forgive you:

15But if ye forgive not men their trespasses, neither will your Father forgive your trespasses.

16Moreover when ye fast, be not, as the hypocrites, of a sad countenance: for they disfigure their faces, that they may appear unto men to fast. Verily I say unto you, They have their reward.

17But thou, when thou fastest, anoint thine head, and wash thy face;

18That thou appear not unto men to fast, but unto thy Father which is in secret: and thy Father, which seeth in secret, shall reward thee openly.

19Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

20But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

21For where your treasure is, there will your heart be also.

22The light of the body is the eye: if therefore thine eye be single, thy whole body shall be full of light.

23But if thine eye be evil, thy whole body shall be full of darkness. If therefore the light that is in thee be darkness, how great is that darkness!

24No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.



Matthew 23:11But he that is greatest among you shall be your servant..........................................................
25Woe unto you, scribes and Pharisees, hypocrites! for ye make clean the outside of the cup and of the platter, but within they are full of extortion and excess.

26Thou blind Pharisee, cleanse first that which is within the cup and platter, that the outside of them may be clean also.............................................................................................................................................................................................................................

39For I say unto you, Ye shall not see me henceforth, till ye shall say, Blessed is he that cometh in the name of the Lord.
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PS Two mistakes does not make anyone right.
An eye for an eye makes the whole world blind............. Gand hi
Repent of your sins.............Jesus

may all be blessed.
Peace on earth, God on High and love, mercy and kindness amongst all brothers and sisters.
Amen.

Amen to that brother.

God is everywhere. Once you discover God - God will always be with you.

I pray for your recovery.

May God bless all of us.

Amen.

Hello Friends!
Greece already demanding help. I am curious where the money from EU ends... Maybe in pockets of byrocrats and "the elder who can walk in it". And now they can comfortably resetle themselves and their beloved families to the safe USA... from this diving boat... where who doesnt steel, steel his own familly. Who tries to build something is meaning "crazy"....