just gotta read more...
regards
Technical Analysis Fallacy
- #27,621
- Oct 10, 2011 10:26pm Oct 10, 2011 10:26pm
- Joined Apr 2007 | Status: (Latin: statūs), rank, state | 3,127 Posts
- #27,623
- Oct 10, 2011 11:02pm Oct 10, 2011 11:02pm
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Hi fti,
i would like to share an experience yesterday that sort-of goes along with the thread's title
As i was on my platform for trading, i noticed peopel saying there is no US session today. i was like WHAT THE @#!~. I had this sort of caveman instinct to go long, and (forgive me) my technical analysis was in the same page. me and redlion were on skype we both went long without us knowing until we told each other haha. So we were both looking at quotes to see price's momentum to either a bullish or more bearish side. Well, obviously it was bullish, but i closed the trade. At some point i went short, forgetting the fact that i knew/predicted before-hand that the holiday would surely be exploited by the euro bulls. Well whatdya know!
I dont really pay much attention to news and listen into every detail, but i picked up the key words. Most people at the bank holiday would be like ahh who cares. My head was banging lol.
Well, keep this thread good and going, itll be a great reminder to all of us traders that always TA doesn't go first. Price precedes TA, and what precedes price is psychology. The very way i trade. lol, i got but-whopped by my own strategy, or the misuse of it. Well, i prepared for that loss, and not a big hit to overall equity, its prepared as said.
Good trades to everyone,
And good morning Asia/Pacific
i would like to share an experience yesterday that sort-of goes along with the thread's title
As i was on my platform for trading, i noticed peopel saying there is no US session today. i was like WHAT THE @#!~. I had this sort of caveman instinct to go long, and (forgive me) my technical analysis was in the same page. me and redlion were on skype we both went long without us knowing until we told each other haha. So we were both looking at quotes to see price's momentum to either a bullish or more bearish side. Well, obviously it was bullish, but i closed the trade. At some point i went short, forgetting the fact that i knew/predicted before-hand that the holiday would surely be exploited by the euro bulls. Well whatdya know!
I dont really pay much attention to news and listen into every detail, but i picked up the key words. Most people at the bank holiday would be like ahh who cares. My head was banging lol.
Well, keep this thread good and going, itll be a great reminder to all of us traders that always TA doesn't go first. Price precedes TA, and what precedes price is psychology. The very way i trade. lol, i got but-whopped by my own strategy, or the misuse of it. Well, i prepared for that loss, and not a big hit to overall equity, its prepared as said.
Good trades to everyone,
And good morning Asia/Pacific
Have I got something on my face, SOLDIER?
- #27,624
- Oct 11, 2011 2:15am Oct 11, 2011 2:15am
- Joined Jul 2011 | Status: an ant working the structure | 3,248 Posts
N_trader
good to hear your out with some profit, i have recovered some (about half), did not have the stamina to do all night because i have got some things to do today so i can only trade until about 9.30am, will see what london brings and news at 8.30am, i may cut/kill whats left of it today as i can not trade tomorrow either.
alrightfrank
you will get there just continue to read the first 200 pages (a few times if needed) and at some point you should have that 'ah-ha' moment were it becomes clear, then you can practice it and develope your own way of dealing with it all.
regards
Phil.
good to hear your out with some profit
, i have recovered some (about half), did not have the stamina to do all night because i have got some things to do today so i can only trade until about 9.30am, will see what london brings and news at 8.30am, i may cut/kill whats left of it today as i can not trade tomorrow either.alrightfrank
you will get there just continue to read the first 200 pages (a few times if needed) and at some point you should have that 'ah-ha' moment were it becomes clear, then you can practice it and develope your own way of dealing with it all.
regards
Phil.
-be careful about what you allow to be put in your mind-
- #27,625
- Oct 11, 2011 2:45am Oct 11, 2011 2:45am
N_trader
good to hear your out with some profit
regards
Phil.
Glad to know tt u covered some grounds
I did not babysit my trade coz my exposure was small... As I wasn't too sure where the market was heading.
You may wish to prepare rescue troops ard 3800 region... If you are still keen to fight back. But I guess the skew has to be quite high by now..
Trade well. Trade safe bud.
Hi Frank - what's with the stop loss? If you have a good read through this thread you'll find that they aren't recommended.
aside from having a relatively small capitalization that it cannot handle the pressure in case it goes against my position, imho the market already made its initial run and im not sure how far it will go or where it is going
, im just trying to be hawky in this trade.i just started reading the thread and the idea of not having a stoploss, im just starting to digest please bear with me, i hardly finish the first 10 pages.
regards
frank
- #27,633
- Oct 11, 2011 8:04am Oct 11, 2011 8:04am
my friend,
aside from having a relatively small capitalization that it cannot handle the pressure in case it goes against my position, imho the market already made its initial run and im not sure how far it will go or where it is going
i just started reading the thread and the idea of not having a stoploss, im just starting to digest please bear with me, i hardly finish the first 10 pages.
regards
frank
i have very small capital.. so i trade with oanda (i am not happy with execution lately) and RBS marketindex with oanda platform. with these brokers i can choose any apropriate size to start building a positions.
the start size (called scout around here) should be very small and a 200 pips agaist you should be no problem for your account.
this way you can be relaxed and enjoy trading without a stoploss.
Also if you are learning (around page 10) i think it is smart to try the new ideas on a demo account
study hard and enjoy trading... regards pax
even with my eyes open i cannot see everything
- #27,634
- Oct 11, 2011 8:12am Oct 11, 2011 8:12am
- Joined Apr 2007 | Status: (Latin: statūs), rank, state | 3,127 Posts
my friend,
aside from having a relatively small capitalization that it cannot handle the pressure in case it goes against my position, imho the market already made its initial run and im not sure how far it will go or where it is going
i just started reading the thread and the idea of not having a stoploss, im just starting to digest please bear with me, i hardly finish the first 10 pages.
regards
frank
Granted that we never really know "how far" or "where" the market will go but if you feel the market has already made it's run, why enter?
Stop losses are not dependent upon one's account size, the chart dictates where they are placed... problem those areas are targets when enough orders are gathered as they provide liquidity.
Capitalization is one of the key ingredients to longevity in this business, ( see first post by FTI) pushing the envelope with abnormal position size:to account size, guarantees a blow out as the market will eventually force you in a margin.
If you're going to embrace this methodology then scale down your size in order for proper MM. Take time out to fully read and study the material, practice first and then start slowly and build. At the moment you're trading at a high risk of failure.
fwiw, regards
- #27,636
- Oct 11, 2011 10:01am Oct 11, 2011 10:01am
- | Joined Nov 2008 | Status: Trader | 1,006 Posts
my friend,
aside from having a relatively small capitalization that it cannot handle the pressure in case it goes against my position, imho the market already made its initial run and im not sure how far it will go or where it is going
i just started reading the thread and the idea of not having a stoploss, im just starting to digest please bear with me, i hardly finish the first 10 pages.
regards
frank
- #27,637
- Oct 11, 2011 10:05am Oct 11, 2011 10:05am
A defender of the The Modern Monetary System
http://www.youtube.com/watch?v=tFz1V...layer_embedded
Rgs,
Textor
thanks a lot, ill do my best to catch up with you guys. i really find fti's post very informative, the principles can be adopted in forex and in real life. english is not my first language so i have to re-read until everything sinks in.
frank
frank
- #27,640
- Oct 11, 2011 12:35pm Oct 11, 2011 12:35pm
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Hi Frank - what's with the stop loss? If you have a good read through this thread you'll find that they aren't recommended.
Well, here is what i have said before.as human beings i have said this everywhere, and we are dynamic not static. We were created to be different from another, and we may intersect our interests at some point in time, but in the end we are all different. I do realize fti's no SL technique, red keeps ranting to me bout how 'cool' he is rescuing trades
/ he's cool and its amazing to rescue an open trade. i can nly rescue closed ones.well to the dude, its okay to have personal preferences, its u tradiing, so go and do ur thing
if u feel that is ur edge in this tough market, then sharpen it even more, keep getting better Have I got something on my face, SOLDIER?