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Technical Analysis Fallacy

  • #28,121
  • Oct 23, 2011 10:52pm Oct 23, 2011 10:52pm
Hey MLA,

I am working hard to figure out your tag line. At times I feel like I almost have it, but then it slips away.

I am curious about your 4 hours of attention on the 5 min chart. I hope you don't mind if I ask you a question.

Do you watch the chart for the full five minutes that it takes to form, or do you just pay attention to it for the 30 seconds before and after closing, and then spend the next 4 minutes doing something else?
Kill the ego, or it will kill the mission.
  • #28,122
  • Oct 23, 2011 11:00pm Oct 23, 2011 11:00pm
Chief,

Whos mainting to Sell USD.... its like nothing makes EU,AU,GU come down...


who maintaining to buy all those currencies or whos seeling USD....


V

PS: i am just playing UJ so i am not worried about these ...just wanted to scracth ur head...
  • #28,123
  • Oct 23, 2011 11:01pm Oct 23, 2011 11:01pm
Ok peep, i need go take a rest.
Tired of watching some muscle man manipulate.
Lets see if they will learn what a vacuum drop is like.

regards
  • #28,124
  • Oct 23, 2011 11:05pm Oct 23, 2011 11:05pm
Quoting fti
Ok peep, i need go take a rest.
Tired of watching some muscle man manipulate.
Lets see if they will learn what a vacuum drop is like.

regards
rest well chief....



V
  • #28,125
  • Oct 23, 2011 11:27pm Oct 23, 2011 11:27pm
Quoting AaronWard
Hey MLA,

I am working hard to figure out your tag line. At times I feel like I almost have it, but then it slips away.

I am curious about your 4 hours of attention on the 5 min chart. I hope you don't mind if I ask you a question.

Do you watch the chart for the full five minutes that it takes to form, or do you just pay attention to it for the 30 seconds before and after closing, and then spend the next 4 minutes doing something else?
Not problem

No, I focus on the all 5 minutes bar, the last 30 seconds are also very important.

Lets say in the initial 4 minutes has formed a shaved top bar indicating that the strength is in the bulls, then in the last 30 seconds that bull bar turns into a pin bar. That shows me that someone is interested to give an idea of the direction up just to be able to trap the bulls.

Hope it helps

mla
"The Heart is the hub of all dances; go there and chill out"
  • #28,126
  • Oct 23, 2011 11:44pm Oct 23, 2011 11:44pm
Quoting mla
Not problem

No, I focus on the all 5 minutes bar, the last 30 seconds are also very important.

Lets say in the initial 4 minutes has formed a shaved top bar indicating that the strength is in the bulls, then in the last 30 seconds that bull bar turns into a pin bar. That shows me that someone is interested to give an idea of the direction up just to be able to trap the bulls.

Hope it helps

mla

Cool, thanks. that is helpful. I have been watching the 5 min, going cross eyed. As FTI says, I am trying to dance with the lady. But I forgot this time of the day is when all the slow dances are held. So very, very slow.
Kill the ego, or it will kill the mission.
  • #28,127
  • Oct 24, 2011 1:26am Oct 24, 2011 1:26am
Hi Folks,

I had a thought yesterday while reading through the postings. fti mentioned that we should have a scout in the field to help us feel the rhythm of the dance. However, I find that I am often placed in a stituation where I need to rescue my scout. So I thought of trying out something like this:

I will use a very small scout (maybe about 1 nano lot since i'm using Oanda) to feel the rhythm of the dance. Once the moves starts to crystalize itself, I being to attack in the favourable direction. This would mean that I may need to sacrifice my scout at times, but given that it's such a small scout, the damage will be insignificant. I hoped that I have articulated myself well enough to be understood.

Any comments?

Regards
Jonathan
  • #28,128
  • Oct 24, 2011 2:16am Oct 24, 2011 2:16am
Quoting N_Trader
Hi Folks,

I had a thought yesterday while reading through the postings. fti mentioned that we should have a scout in the field to help us feel the rhythm of the dance. However, I find that I am often placed in a stituation where I need to rescue my scout. So I thought of trying out something like this:

I will use a very small scout (maybe about 1 nano lot since i'm using Oanda) to feel the rhythm of the dance. Once the moves starts to crystalize itself, I being to attack in the favourable direction. This would mean that I may need to sacrifice...
Try candle stick staring. It is working wonders for me. It gives you a direct experience of the market pressure and volatility.

The trick seems to be looking and the chart and not thinking about it.

The soldier would might work... why not just get one and keep him out there full time. A 1000 pip loss would only cost about $10 or so. Why don't you try it and report back?
Kill the ego, or it will kill the mission.
  • #28,129
  • Oct 24, 2011 2:19am Oct 24, 2011 2:19am
Quoting fti
next some dogs, going bring out gender issues about which should lead eu.
anything to incite grouping and confusion. There's tons issues they may like bring out, Just to distract from the real issues.

Lets see, markets decides.
For us little ants, best just go with the tides.

regards

Hi and good morning friends.

I remember there was a great panel discussion haosted by bloomberg 1 or 2 weeks ago. Finacial Experts and politicians from China, India, US, Japan, Germany... The statement, that was very impressive to me (mad ny the Indian participant) was:

"Europe is to important for the functioning of World economy, to leave it to the europeans!"

All the other Asian participants and the US guy agreed strongly...

Wish you a successful trading week!

CU,
Niels
  • #28,130
  • Oct 24, 2011 2:23am Oct 24, 2011 2:23am
Quoting AaronWard
Try candle stick staring. It is working wonders for me. It gives you a direct experience of the market pressure and volatility.

The trick seems to be looking and the chart and not thinking about it.

The soldier would might work... why not just get one and keep him out there full time. A 1000 pip loss would only cost about $10 or so. Why don't you try it and report back?

Cool - that's how I do it basically.
But I like to observe the action on a M1 chart.
You can see how the guys out there are batteling on the "marketfield".
And you will get a good feeling, when the battle is close to a decision ...
  • #28,131
  • Oct 24, 2011 2:28am Oct 24, 2011 2:28am
Quoting MaMood

Cool - that's how I do it basically.
But I like to observe the action on a M1 chart.
You can see how the guys out there are batteling on the "marketfield".
And you will get a good feeling, when the battle is close to a decision ...
Refreshing


mla
"The Heart is the hub of all dances; go there and chill out"
  • #28,132
  • Oct 24, 2011 2:48am Oct 24, 2011 2:48am
Quoting AaronWard
Try candle stick staring. It is working wonders for me. It gives you a direct experience of the market pressure and volatility.

The trick seems to be looking and the chart and not thinking about it.

The soldier would might work... why not just get one and keep him out there full time. A 1000 pip loss would only cost about $10 or so. Why don't you try it and report back?
Hi Aaron,

I will try it out, but I cannot have both short and long position opened at the same time for the same currency pair. So if my scout is short and the market tells me to go long, I would kill my scout once a long position is entered.

I also tried that candlestick staring at ticks level as suggested by Niels. He is a really great teacher btw

I will try this out for a week and update you guys again.

Cheers

Jonathan
  • #28,133
  • Oct 24, 2011 2:48am Oct 24, 2011 2:48am
Quoting mla
Refreshing


mla
Yup MLA, all your fault.
but it is like magic. You get a direct sense of market volatility, direction and support. The key thing seems to be to shut of mister thinker and directly experience the movement. If you get into the right groove, it also feels pretty cool.

What IS as opposed to what you think it should be. You also find, that by concentrating you really do have enough time to make any decision you need to make. There is no such thing as a fast move when you can feel the seconds go by.

I like the 5 min because I like the size of the package.
Kill the ego, or it will kill the mission.
  • #28,134
  • Oct 24, 2011 2:51am Oct 24, 2011 2:51am
Quoting N_Trader
Hi Aaron,

I will try it out, but I cannot have both short and long position opened at the same time for the same currency pair. So if my scout is short and the market tells me to go long, I would kill my scout once a long position is entered.

I also tried that candlestick staring at ticks level as suggested by Niels. He is a really great teacher btw

I will try this out for a week and update you guys again.

Cheers

Jonathan
Good luck
Kill the ego, or it will kill the mission.
  • #28,135
  • Oct 24, 2011 3:03am Oct 24, 2011 3:03am
Happy trading day to everyone. Saw this and thought it interesting:
http://www.telegraph.co.uk/finance/c...o-America.html
  • #28,136
  • Oct 24, 2011 3:09am Oct 24, 2011 3:09am
Quoting N_Trader
Hi Aaron,

I will try it out, but I cannot have both short and long position opened at the same time for the same currency pair. So if my scout is short and the market tells me to go long, I would kill my scout once a long position is entered.

[....]
Hi Jonathan,

not sure if you should turn for every single wave against you.
Remember fti's saying about "pigs".
I would reecommend to add some tactics from AOW, especially the chapters about about retreat, usage of troops, and knowing the terrain could help to avoid "multi-flipping". It will allow you to manage your army in a very nimble way ...

CU,
Niels
  • #28,137
  • Oct 24, 2011 4:13am Oct 24, 2011 4:13am
Quoting AaronWard
Yup MLA, all your fault.
but it is like magic. You get a direct sense of market volatility, direction and support. The key thing seems to be to shut of mister thinker and directly experience the movement. If you get into the right groove, it also feels pretty cool.

What IS as opposed to what you think it should be. You also find, that by concentrating you really do have enough time to make any decision you need to make. There is no such thing as a fast move when you can feel the seconds go by.

I like the 5 min because I like the...
What do you mean? You got stopped out? Show me where.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #28,138
  • Oct 24, 2011 5:08am Oct 24, 2011 5:08am
Quoting mla
What do you mean? You got stopped out? Show me where.

mla
No, not stopped out. Just kidding. Doing just fine. Very excited to have discovered something new and valuable.

Getting tired. i think I will take a break.
Kill the ego, or it will kill the mission.
  • #28,139
  • Oct 24, 2011 5:17am Oct 24, 2011 5:17am
Quoting AaronWard
No, not stopped out. Just kidding. Doing just fine. Very excited to have discovered something new and valuable.

Getting tired. i think I will take a break.
I am glad. I started to feel guilty. I was thinking, I am not giving advises anymore.

It is a good idea to stop when you get tired, when you are not in sync or when you loose, because you will lose with this idea as well.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #28,140
  • Oct 24, 2011 5:23am Oct 24, 2011 5:23am
Quoting mla
I am glad. I started to feel guilty. I was thinking, I am not giving advises anymore.

It is a good idea to stop when you get tired, when you are not in sync or when you loose, because you will lose with this idea as well.

mla
Looking at all the different posts, it became clear to me that I had no sensitivity or connection with the market. I was fighting it all the way. I was not dancing with the lady,

I came upon your "five minute chart technique", and decided to give it a try. I have definitely gained something.

I have taught for many years. And my number one rule is that a teacher can never teach anything. However, from time to time students suprise you and actually learn something.

Thanks again.
Kill the ego, or it will kill the mission.
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