Technical Analysis Fallacy | Page 1381 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Ultimate Fallacy in Technical Analysis 99 replies

"Technical Analysis Fallacy" thread people, I need your help 54 replies

Technical Analysis Fallacy Redux 23 replies

Statistical analysis fallacy 33 replies

Attachments: Technical Analysis Fallacy
Exit Attachments

Technical Analysis Fallacy

  • #27,601
  • Edited 8:25am Oct 10, 2011 8:09am | Edited 8:25am
For the bears trapped, like me.
Depending on your skew, it can already becoming difficult on the mind.
And although is crazy markets, the pressure is still building.
So it time stop digging.
Its time waiting for opportunity defuse the pressure. Because technically, position is against the trend already.

What happens to traders is that their energies will be so spent that they just want out.
The trick is to slowly defuse the pressure in stages, although the market may be in vacuum flux.

The lesson the market teach today is about sizing, about greed control, about proper money management.
over exposures , they all dead already.( normaly are those traders that have need to be right, they probably sold the house already on the position.)
The nimbles like jacson,mamood, they laughing to the bank.

regards
  • #27,602
  • Edited 8:46am Oct 10, 2011 8:28am | Edited 8:46am
Make no mistake, nearly all who have capital to trade, they not nuts.
No one buy on extreme rallys nor sell at extreme dip.
Only those put in desperate situation of loss of control due to exposures.

If anything this lesson is very important.
So be wise generals.
To win always put army in an undefeatable position and victory is a surerity....Sun Zi

regards
  • #27,603
  • Oct 10, 2011 8:52am Oct 10, 2011 8:52am
Quoting fti
Make no mistake, nearly all who have capital to trade, they not nuts.
No one buy on extreme rallys and extreme dip.
Only those put in desperate situation of loss of control due to exposures.

If anything this lesson is very important.
So be wise generals.
To win always put army in an undefeatable position and victory is a surerity....Sun Zi

regards

Terrain above 136 seems robotic, forced buyins, nonetheless strong 3 handle rally.
Maybe waiting for european close or fixing to test strength.
  • #27,604
  • Oct 10, 2011 9:19am Oct 10, 2011 9:19am
yes i too have a scout in deep from this morning, but the MM has taught me not to panic about it, the market WILL turn and i shall be ready to rescue (in stages if needed), my scout never collected enough forgein capital to attack, that lesson of attacking to soon has been taught to me by the market before.

that last 5M flag is different from the rest and this last leg up has tails unlike the others, maybe stalling? to soon to tell yet.

ps. i know i should not but i quite enjoy the rescues.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #27,605
  • Oct 10, 2011 9:45am Oct 10, 2011 9:45am
i am performing my first rescue ever
  • #27,606
  • Oct 10, 2011 9:56am Oct 10, 2011 9:56am
N_trader

good luck, i find the trick is to stay calm and almost forget about the scout and just read what is happening in chart as though it is a completely new trade.

if your using mt4 i have a bit of code that works out your breakeven and puts a line on the chart for you, i find it very helpfull, i will try and post it for you if want it.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #27,607
  • Oct 10, 2011 10:20am Oct 10, 2011 10:20am
Hi Phil13

can I have the code please?

Regards
Bert
  • #27,608
  • Edited 10:48am Oct 10, 2011 10:36am | Edited 10:48am
hi Bert

i have attached it, here for anyone to download, dare i say here, but it goes in the 'indicator' file.

saves you working out the breakeven of long and short trades.

for mt4 works out your breakeven on multipule trade entries and draws a line on the chart.

regards

Phil.
Attached File(s)
File Type: mq4 ConPos.mq4   4 KB | 746 downloads
-be careful about what you allow to be put in your mind-
  • #27,609
  • Oct 10, 2011 10:56am Oct 10, 2011 10:56am
Thanks Phil

Regards
Bert
  • #27,610
  • Oct 10, 2011 11:20am Oct 10, 2011 11:20am
Quoting phil13
yes i too have a scout in deep from this morning, but the MM has taught me not to panic about it, the market WILL turn and i shall be ready to rescue (in stages if needed), my scout never collected enough forgein capital to attack, that lesson of attacking to soon has been taught to me by the market before.

that last 5M flag is different from the rest and this last leg up has tails unlike the others, maybe stalling? to soon to tell yet.

ps. i know i should not but i quite enjoy the rescues.

regards

Phil.
hi phill and N_trader

this no normal battle so be carefull!! if scout is in from this morning you need much firepower...

clip from the film black hawk dowm....about a true story ... rescuing a scout(shot down helicopter)

trade well guys, pax

Inserted Video
even with my eyes open i cannot see everything
  • #27,611
  • Oct 10, 2011 12:04pm Oct 10, 2011 12:04pm
hi Pax

thanks for your concern, i will not over expose myself during any rescue, i would rather cut/kill the scout (or attack) if it gets near that situation, i may have to carry out a few raids to recover this postion totally but its up to the market and what it allows me to do to recover all or not, no taking chances or gambling from me. my scout is only a very small position.

regards

Phil.

ps. bears sighted but waiting to make sure they have reinforcements.
-be careful about what you allow to be put in your mind-
  • #27,612
  • Edited 12:59pm Oct 10, 2011 12:11pm | Edited 12:59pm
Malta is expected to vote within the hour on the EFSF ... anyone heard about the malta maybe voting against or a slovakia against vote tomorrow?? this would disturbe the eur bulls!!!

hey phil, good to hear you do not rescue at all cost... like i did many times.

edit: reuters reported malta likely to support the stability fund
even with my eyes open i cannot see everything
  • #27,613
  • Edited 1:30pm Oct 10, 2011 1:16pm | Edited 1:30pm
Quoting fti
what a welcome back.
So mellow.

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

feeling like trying on my tux.
Its been a long long time since i had seen a ballroom.
forgot: rofl: can't do that with a walking stick.
But truely only in a waltz , will a woman allow you swing her ever which way you want to turn.: )
oops forgot about the tango.:rofl :

And no , jac, you can't do that with flip flops either.
need get your winter dancing shoes, polished.
Florsheim , my friend, Floorshine.

oh my goodness, where is my...

Ah florsheim, I think I still have pair.
Rgds
  • #27,614
  • Oct 10, 2011 4:03pm Oct 10, 2011 4:03pm
Quoting jacson101

Ah florsheim, I think I still have pair.
Rgds
jac

Ai ya my scout deep dead in waters.
rescue team in the muds.
1st sin since i came back.
slept on my positions. so horrible!

OMG, politics vs realities.
The players France & Germany.
becareful, watch size.

million $ question.
Will Greece default?
directional question.
when Greece defaults, what % of impact should be likely?
there is much talk about 21%
what a coincidence with the 21st July date.

regards
  • #27,615
  • Edited 5:02pm Oct 10, 2011 4:30pm | Edited 5:02pm
Quoting fti
jac

Ai ya my scout deep dead in waters.
rescue team in the muds.
1st sin since i came back.
slept on my positions. so horrible!

OMG, politics vs realities.
The players France & Germany.
becareful, watch size.

million $ question.
Will Greece default?
directional question.
when Greece defaults, what % of impact should be likely?
there is much talk about 21%
what a coincidence with the 21st July date.

regards
Understood thank you sir.
Long day, yeah flying sinks.
Crazy vols..I`m not sure 136 can hold without at test of 135 fig
I not sure but tiered sales staff are saying +30% on greece.

Rgds
  • #27,616
  • Oct 10, 2011 5:57pm Oct 10, 2011 5:57pm
Quoting j-pax
Malta is expected to vote within the hour on the EFSF ... anyone heard about the malta maybe voting against or a slovakia against vote tomorrow?? this would disturbe the eur bulls!!!

hey phil, good to hear you do not rescue at all cost... like i did many times.

edit: reuters reported malta likely to support the stability fund
Hey pax,
In Slovakia is situation about voting very hectic at the moment is look like 99%prob.they will vote against EFSF but I am not sure how much important is Slovakian votes as this is pretty small village in EU .I think they have some solution already without Slovak vote.
KM
  • #27,617
  • Oct 10, 2011 7:22pm Oct 10, 2011 7:22pm
Quoting phil13
N_trader

good luck, i find the trick is to stay calm and almost forget about the scout and just read what is happening in chart as though it is a completely new trade.

if your using mt4 i have a bit of code that works out your breakeven and puts a line on the chart for you, i find it very helpfull, i will try and post it for you if want it.

regards

Phil.
Thanks Phil, I successfully rescued my position this morning with small profits. Yest market was usually like many had said here. I waited and waited till the enemies run high n dry... Tt was my chance to gain some grounds. And by God's mercy, my scout was out.
Hope you r doing ok.
  • #27,618
  • Oct 10, 2011 7:28pm Oct 10, 2011 7:28pm
Quoting j-pax
hi phill and N_trader

this no normal battle so be carefull!! if scout is in from this morning you need much firepower...

clip from the film black hawk dowm....about a true story ... rescuing a scout(shot down helicopter)

trade well guys, pax

http://www.youtube.com/watch?v=p0091...eature=related
J-pax
Thks bro, it was a good reminder for me... A long drawn battle. I'm out this morning.

Gonna rest a bit.
Good trading to you.

Cheers
  • #27,619
  • Oct 10, 2011 10:15pm Oct 10, 2011 10:15pm
Back from a ncie travel.... it was just beautiful...some thoughts later i will share....

Nice to see thread alive...

Ok what is going on with USD Bear they do are making money...

lets see whats this will bring... i left a AU 1/5 scout at .9610...need to kill it.... was short AU...



Thanks
V
  • #27,620
  • Oct 10, 2011 10:19pm Oct 10, 2011 10:19pm
aaaarghh!!! i hate myself... dance? rescue? scout? im so confused if we are in battlefield or in the dance floor... or the dance floor is the battlefield or vise versa. information overload!!! dunno where to start
be nimble: i got it
just gotta read more...
regards
frank
86 traders viewing now