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Technical Analysis Fallacy

  • #26,681
  • Edited 12:15am Jul 26, 2011 12:05am | Edited 12:15am
hi fti,

i've been trading for about 2.5 yrs full time on my own. i think i've learned alot from reading this thread.. so far i'm still only on page 50. but i can see where i was going wrong.. i am going to move away from the using small stops.. the last 2 days i kept going long on the eur.. took stupid stops.. and finally when i have it right. i closed it before it took off...
http://img1.uploadscreenshot.com/ima...75518-orig.png

i am going to migrate towards using strategic entries to get in.. and adding (1 time for now) and holding as long my s/r level isn't prvoen wrong. i will still use hard stops after i added the 2nd contract since i'm not willing to sit through bigger retraces. with 2 entries i can also take advantage of the oscilations to close out bad positions and keep rotating if needs be. i know i'll have some good results to report and i'll keep reading this thread... 1700 pages to learn!@#@!#@!

cheers,

JW
  • #26,682
  • Jul 26, 2011 2:47am Jul 26, 2011 2:47am
Quoting M-H Trader
LoL what kind of videos are you watching?
nothing special, just youtube.
Sometimes they recommend the wierdest stuffs.



regards
  • #26,683
  • Jul 26, 2011 2:50am Jul 26, 2011 2:50am
Quoting jfw215
hi fti,

i've been trading for about 2.5 yrs full time on my own. i think i've learned alot from reading this thread.. so far i'm still only on page 50. but i can see where i was going wrong.. i am going to move away from the using small stops.. the last 2 days i kept going long on the eur.. took stupid stops.. and finally when i have it right. i closed it before it took off...
http://img1.uploadscreenshot.com/ima...75518-orig.png

i am going to migrate towards using strategic entries to get in.. and adding (1 time...
judging from what you said, i believe your learning curve is gonna be very very steep.
But slowly you will getthere, just don't sell the house yet.

regards
  • #26,684
  • Jul 26, 2011 2:53am Jul 26, 2011 2:53am
these markets untradable still.
no point waste energy on rubbish.
its now all gambling.
euro will probally do wierd volatility on journey test 1.5
but is gambling journey
not worth killing brain cells over.


regards
  • #26,685
  • Jul 26, 2011 3:16am Jul 26, 2011 3:16am
Hi fti,

I've been away from the thread for awhile because of a work commitment, so I just pop in from time to time now, but I'm very glad to notice that it seems like your health has turned around and you've come back strong. Very good news indeed.

Please continue blessing us with your friendship and knowledge.

Take care,

Alex G
If only I knew then what I know now...
  • #26,686
  • Jul 26, 2011 4:24am Jul 26, 2011 4:24am
Quoting fti
judging from what you said, i believe your learning curve is gonna be very very steep.
But slowly you will getthere, just don't sell the house yet.

regards
yea.. not my best trading this week. i sold the house 2.5 yrs ago! the learning continues...

why do u say the market is untradable now? is it because its summer?
  • #26,687
  • Jul 26, 2011 5:29am Jul 26, 2011 5:29am
Quoting Alexgee
Hi fti,

I've been away from the thread for awhile because of a work commitment, so I just pop in from time to time now, but I'm very glad to notice that it seems like your health has turned around and you've come back strong. Very good news indeed.

Please continue blessing us with your friendship and knowledge.

Take care,

Alex G
Good to see you again Alex.

regards
  • #26,688
  • Edited 6:03am Jul 26, 2011 5:35am | Edited 6:03am
Quoting jfw215
yea.. not my best trading this week. i sold the house 2.5 yrs ago! the learning continues...

why do u say the market is untradable now? is it because its summer?

no
washington's weather may be hot.
but the default or not default by usa on her debts, is big issue to content with now.
Mr O vs Republican inability to agree is basically wild card.
No one can tell how this is all going to play out going into Aug 2nd.
So all you will see on charts is just volatility and some manipulation of prices.
This why i say it a gamble.
Whats driving markets is just biasness. And things can change in a blink, in wildest vacuum volatility.

Just be aware , if you insist to trade now.
Maybe you like take time read thread.
the ss/rr monsters you playing with, they not real, does not exist.
Anyone can draw a line and name it after their favorite girlfriend, but its not real.
And if you marrys it, the allimony will be horendously expensive.

regards
  • #26,689
  • Jul 26, 2011 5:39am Jul 26, 2011 5:39am
Quoting fti

no
washington's weather may be hot.
but the default or not default by usa on her debts, is big issue to content with now.
Mr O vs Republican inability to agree is basically wild card.
No one can tell how this is all going to play out going into Aug 2nd.
So all you will see on charts is just volatility and some manipulation of prices.
This why i say it a gamble.
Whats driving markets is just biasness. And things can change in a blink, in wildest vacuum volatility.

Just be aware , if you insist to trade now.

regards
gotcha. i can't imagine that we will default on our debt.. doesn't make sense.. maybe its all just all for show.. obama needs to keep the payouts going and republicans want to stop the bleeding...
  • #26,690
  • Edited 6:22am Jul 26, 2011 6:09am | Edited 6:22am
Quoting jfw215
gotcha. i can't imagine that we will default on our debt.. doesn't make sense.. maybe its all just all for show.. obama needs to keep the payouts going and republicans want to stop the bleeding...

if good show , i will watch and even applause at the good/naughty scenes.
If bad show i just go rest in bed.

But one things real, the volatility is wildcard.
If she trends you wouldn't be able to chase. If congestions, then they going to flip you round and round until you faint.
And i won't want to be penny wise and pound foolish trade contrarian.

i seeing stops piling up on top and on the floor, red or black, or both, your choice.
If you are strategist can do some straddles and wait.
If you writing strangles then you may just choke on the time money.



regards
  • #26,691
  • Jul 26, 2011 6:35am Jul 26, 2011 6:35am
Hi Fti. Good reading. Thank you...
I think you are getting to form with your health... Good!
  • #26,692
  • Jul 26, 2011 6:53am Jul 26, 2011 6:53am
not sure how long i would take to read the entire thread.... full of rich information and advice...

the next challenge is ...how can i apprehend them.... not easy .... hahaha
  • #26,693
  • Jul 26, 2011 6:58am Jul 26, 2011 6:58am
Quoting less
not sure how long i would take to read the entire thread.... full of rich information and advice...

the next challenge is ...how can i apprehend them.... not easy .... hahaha
Read the first page, take the time of reading, make a graph, aproximate... thats all...
(in other words "dont be lazy...") Regards
  • #26,694
  • Jul 26, 2011 7:04am Jul 26, 2011 7:04am
Quoting Fana
Read the first page, take the time of reading, make a graph, aproximate... thats all...
(in other words "dont be lazy...") Regards
noted Sir....will spend some time over the weekends...thank you..
  • #26,695
  • Jul 26, 2011 7:08am Jul 26, 2011 7:08am
Quoting less
noted Sir....will spend some time over the weekends...thank you..
Only weekends? With this tempo it will take at least 10years! To become trader imo...
  • #26,696
  • Jul 26, 2011 7:24am Jul 26, 2011 7:24am
Quoting Fana
Only weekends? With this tempo it will take at least 10years! To become trader imo...
lol.... what to do.... really exhausted after a day work...
cant be a full time trader..... really need to provide food on the dinner table safely and securely
  • #26,697
  • Edited 7:47am Jul 26, 2011 7:40am | Edited 7:47am
Quoting less
noted Sir....will spend some time over the weekends...thank you..
It took me about a month+ to read first 250 pages two and a half times, full time reading, not just now and then. You can skip the rest, although I keep reading even after 250, but more or less just to polish what I've learned up to 250 (somewhere middle of Jul 2008).

What fti is saying (every single word) is very serious and needs time to comprehend (due to His Majesty cryptic style). Very time consuming task, but at the end of the day it pays, trust me.

If at some point you find yourself stuck (not understanding) then most probably you didn't read carefully. If that's the case, start over from PAGE ONE and read again, this time read slow :-)




Thank you fti!


Plamen
Bah...
  • #26,698
  • Jul 26, 2011 7:58am Jul 26, 2011 7:58am
Lets make this more sexy (we are bored right now anyway): I found that to enter a trade you should wait this lady to spread her 5min legs wide, just like you can't penetrate your beloved if she hold her legs closed tight :-) And don't miss the moment - she will invite you only once! Be a nimble lover, not a sluggish one :-)

Inserted Video


Plamen
Bah...
  • #26,699
  • Jul 26, 2011 8:00am Jul 26, 2011 8:00am
Quoting plamendp
It took me about a month+ to read first 250 pages two and a half times, full time reading, not just now and then. You can skip the rest, although I keep reading even after 250, but more or less just to polish what I've learned up to 250 (somewhere middle of Jul 2008).

What fti is saying (every single word) is very serious and needs time to comprehend (due to His Majesty cryptic style). Very time consuming task, but at the end of the day it pays, trust me.

If at some point you find yourself stuck (not understanding) then most probably you...
Hi Plamen

Do you know if someone has sumarized fti's teachings into a word doc or pdf? i'm on page 80 now.. almost 1/2 way there..

thanks
  • #26,700
  • Jul 26, 2011 8:18am Jul 26, 2011 8:18am
Are there any Elliotians? GU M5 now 5th wave...(now already in corrective wave A)
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