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Technical Analysis Fallacy

  • #27,141
  • Sep 13, 2011 4:48am Sep 13, 2011 4:48am
I am out 1.3691 + 89 pips.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,142
  • Sep 13, 2011 5:52am Sep 13, 2011 5:52am
My second trade also long @ 1.3649, gained my risk, covered half and this time I move my SL to BE and I am going to bed.

Will find out in the morning if she has been in a generous mood.

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #27,143
  • Sep 13, 2011 6:36am Sep 13, 2011 6:36am
Now Panda seems protecting its interests.
  • #27,144
  • Sep 13, 2011 1:56pm Sep 13, 2011 1:56pm
Quoting mla
My second trade also long @ 1.3649, gained my risk, covered half and this time I move my SL to BE and I am going to bed.

Will find out in the morning if she has been in a generous mood.

mla
6.49 am, Sydney time I am closing my trade @ 1.3682; + 33 pips.
Seems I cannot do anything wrong lately. I do not know what is wrong with me.
28 trades without a loss, well I am sure bad times will come, but in a meantime I am enjoying my "in the zone business" and wish the same to you all.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,145
  • Sep 13, 2011 11:22pm Sep 13, 2011 11:22pm
In @1.3672 with a SL @1.3689 with 2 lots (Asian period), broke and pulled back.
Gained my risk, covered 1 lot and moved SL to BE. Covered 2 lot at 1.3611, triple bottom formed and bullish trendline in the vicinity +17 +71 pips.

I am looking to short again but first I need to get my daughter from school.

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #27,146
  • Sep 13, 2011 11:32pm Sep 13, 2011 11:32pm
Quoting mla
In @1.3672 with a SL @1.3689 with 2 lots (Asian period), broke and pulled back.
Gained my risk, covered 1 lot and moved SL to BE. Covered 2 lot at 1.3611, triple bottom formed and bullish trendline in the vicinity +17 +71 pips.

I am looking to short again but first I need to get my daughter from school.

mla
Hi Mla. Do you have demo or live? Carefully with the treasure (dont have FX in head when driving)
  • #27,147
  • Sep 13, 2011 11:51pm Sep 13, 2011 11:51pm
Quoting Fana
Hi Mla. Do you have demo or live? Carefully with the treasure (dont have FX in head when driving)
Hi Fana

Thank you for your advice. I trading a live account.

All the best
mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,148
  • Sep 13, 2011 11:54pm Sep 13, 2011 11:54pm
Quoting mla
Hi Fana

Thank you for your advice. I trading a live account.

All the best
mla
How long do you do trading? esp. forex? Thank you
  • #27,149
  • Sep 14, 2011 12:21am Sep 14, 2011 12:21am
Quoting Fana
How long do you do trading? esp. forex? Thank you
I started at least 6 years ago, tried everything and all the systems (sound familiar, does'n it?).

I never blow any account but at the same time I was not making any.

Last 2 years I have dedicated full time to trading and currencies, last 3 months only on eurusd and that is when I started to turn thing around.

Before I trade, every day I draw my trendlines and S/R from weekly to 5 minutes (in different colour), when she reaches those levels I watch her and see how she reacts.

Most importantly I enter when I feel a lot of traders are trapped because they will push the trade in my direction to cover they position, like yesterday everybody was trying to find a level to get short only to get trap.

I also consider each candle very important for the development of the bigger trend, the last 20 second of the candle tells me a lot.

Also very important is intermarket analysis, gold,oil, indexes, and if I can I tend to go against the crowd.

I hope it helps
All the Best
mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,150
  • Sep 14, 2011 2:16am Sep 14, 2011 2:16am
In long @1.3648 with SL 1.3434, two lots, gained risk, covered 1 lot and move my SL to BE. Second lot stopped out at BE.

I think she is playing hide and seek. I am not sure where she is heading, but I know where I am going: They are calling me for dinner. I think is fish and chips.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,151
  • Sep 14, 2011 2:17am Sep 14, 2011 2:17am
pic

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #27,152
  • Sep 14, 2011 3:16am Sep 14, 2011 3:16am
My third trade of the day.

In Long @ 1.3683, 2 lots, gained my risk, covered 1 lot, SL moved to BE.
She just bounced from an hourly bearish trendline, if she breaks that lever she may get further.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,153
  • Sep 14, 2011 3:17am Sep 14, 2011 3:17am
pic

mla
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"The Heart is the hub of all dances; go there and chill out"
  • #27,154
  • Sep 14, 2011 3:55am Sep 14, 2011 3:55am
Hi to All
Hi Mla i am just a lurker of this Thread i mostly read than write.
You recently post very much but i think that the prupose of this thread is lost.
The meaning of this thread was all about FTI and his approach to trading.
You post very much but in your post there is nothing concernig to The ART of War that FTI wanted to pass on.
If you want to post that every body see you can make your own Journal But this is the place of FTI folowers that descuss or try to understead his teaching not only in trading but his aproach to the LIFE itself.

Sorry in advance i no mean to harm or desrespect anyone i just want to show my point of view on this Subject
regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #27,155
  • Sep 14, 2011 4:23am Sep 14, 2011 4:23am
Quoting -Michael-
Hi to All
Hi Mla i am just a lurker of this Thread i mostly read than write.
You recently post very much but i think that the prupose of this thread is lost.
The meaning of this thread was all about FTI and his approach to trading.
You post very much but in your post there is nothing concernig to The ART of War that FTI wanted to pass on.
If you want to post that every body see you can make your own Journal But this is the place of FTI folowers that descuss or try to understead his teaching not only in trading but his aproach to the LIFE itself....
I perceived the Fti teaching the opposite of what you have mentioned.

But that is ok, I was going to step out anyway, I just wanted to show that you can make make money in this business or any other following your own heart.

Isn't that it the core of fti teaching?

mla
"The Heart is the hub of all dances; go there and chill out"
  • #27,156
  • Sep 14, 2011 6:26am Sep 14, 2011 6:26am
Happy trading day everyone! Just watched US Tres. Sec. Geitner's interview on CNBC. Some interesting things said, and not said. When asked if European banks could pass a Fed-level stress test (when compared to the ECB stress tests) he did not answer, which tells me that the answer is "no". He also said that there were no Lehman's out there, which is perhaps the stupidist thing he has said in his career as Tres. Sec. And, in a brilliant, blinding-flash-of-the-obvious moment, he said that Europe has the capacity to solve its problems, but lacks the political will to do so.

Only 14 months to go before we can vote these clowns out of office.
  • #27,157
  • Sep 14, 2011 6:28am Sep 14, 2011 6:28am
Quoting mla
I just wanted to show that you can make make money in this business or any other following your own heart. Isn't that it the core of fti teaching?

mla
Actually, no it is not. Hope you decide to hang around and participate! Best wishes.
  • #27,158
  • Sep 14, 2011 8:14am Sep 14, 2011 8:14am
Quoting fti
Hi ukman,
nope had not caught up on my reading. In fact, slowed much on activities on that front.
On the issue of what govt is doing to the moneys.
I like stress point that, its not your money , its the govt's money.
As far as the govts are concerned its their resource to manage you. Their subjects.
And for govts that uses fiat money as their resource. is not even their money. Is systems money.

Gold standard was abandoned at bretton woods and later by the us nixon administration, because the supply of Gold was insufficient to finance rapid...
Hi again,

For those who are passionate about this activity, I reiterate
my recommendation to read this:

http://pragcap.com/resources/underst...onetary-system

It is a good complement to the reading of "Paper Money",
...and apologies for being somewhat repetitive ....

Rgs,

Textor
  • #27,159
  • Sep 14, 2011 9:48am Sep 14, 2011 9:48am
Quoting textor
Hi again,

For those who are passionate about this activity, I reiterate
my recommendation to read this:

http://pragcap.com/resources/underst...onetary-system

It is a good complement to the reading of "Paper Money",
...and apologies for being somewhat repetitive ....

Rgs,

Textor
Thanks just got it in pdf to read later.
  • #27,160
  • Sep 14, 2011 11:26am Sep 14, 2011 11:26am
Already got it printed...will read it sometime soon....Thanks Textor
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