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Technical Analysis Fallacy

  • #28,721
  • Nov 2, 2011 5:36am Nov 2, 2011 5:36am
Quoting fti
http://www.cnbc.com/id/45122955

so make haste, that your funds are segregated. Only places in know have this protection is in London and Sg.


regards
Chief,

That means good chance my property will go up?



Regards
Jonathan
  • #28,722
  • Nov 2, 2011 5:44am Nov 2, 2011 5:44am
Quoting N_Trader
Attachment
Chief and fellow TAFs,

squared. The PA seems to indicate pretty strong buying.

My attack sequence is 111.. trying to err on the side of caution due to upcoming news release.

For advice, please...

Regards
Jonathan
Hi N_Trader, just curious. Can you explain why you entered the two shorts, and why you jumped out of your trades?
  • #28,723
  • Nov 2, 2011 5:47am Nov 2, 2011 5:47am
Quoting GEfx
Happy trading day everyone. Looks like an interesting day ahead. LOTS of FA's today. Trade with caution and be nimble. E/$ and GBP/$ have been retracing and look to be setting up for...something.

So the Greek people will get a vote on their future? Finally, the people will be heard, but the results are going to be the same. Hard to compete in a modern economy when you don't do or make anything. Time will tell.

Stay focused and trade well my friends.
Hi GE! Yeah, that Greek issue is really difficullt. Nobody knows what, how, how long... Mess here in EU. Trade well.
  • #28,724
  • Nov 2, 2011 5:59am Nov 2, 2011 5:59am
Quoting GEfx
Hi N_Trader, just curious. Can you explain why you entered the two shorts, and why you jumped out of your trades?
Hi GEfx,

Yes I would. Based on FA, I would still favor a short position. The first was a scout and I saw possible resistance at 3800. The second was entered when I saw possible resistance by staring at candles on 1M TF.

Then the PA starts to indicate possible uptrend. Strong buying it seems. So I went to rescue mode. I did not add anymore position as I was trying to time a good rescue. Then price came down after failure at 3800. I did not want to overstay due to news releases coming up and it seems 3750 is supporting the price. Plus I needed to run some errands and couldn't babysit my trade. So I jumped out.

I personally felt that my scout entry was not good. Perhaps should have waited for a clearer direction.

Please comment. If you need to shoot me, shoot me.
I rather learn now than later.

Regards
Jonathan
  • #28,725
  • Nov 2, 2011 6:53am Nov 2, 2011 6:53am
Quoting auxesis
If memory serves FXCM bought up the remainder of Refco. Best to let that one fade away too many interests here
Here the list of MF Global agents:

http://www.commoditybrokersonline.co...financial.html

Rgs,

Textor
  • #28,726
  • Nov 2, 2011 6:58am Nov 2, 2011 6:58am
Quoting N_Trader
Hi GEfx,

Yes I would. Based on FA, I would still favor a short position. The first was a scout and I saw possible resistance at 3800. The second was entered when I saw possible resistance by staring at candles on 1M TF.

Then the PA starts to indicate possible uptrend. Strong buying it seems. So I went to rescue mode. I did not add anymore position as I was trying to time a good rescue. Then price came down after failure at 3800. I did not want to overstay due to news releases coming up and it seems 3750 is supporting the price. Plus I needed...
Hi Jonathan, No shooting by me. Was just wondering if you had an approach to identifying the end of a retrace. I see the E/$ in a retracement of yesterdays PA, and am waiting for a clearer picture to develop before deploying resources. GBP/$ may be turning back but am still waiting. First entry there may have been at 1.5993 or 1.5994, but not clear yet. Just my cautious thoughts. Trade well.
  • #28,727
  • Edited 10:57am Nov 2, 2011 10:22am | Edited 10:57am
knock knock...

Am I alone?
  • #28,728
  • Nov 2, 2011 11:56am Nov 2, 2011 11:56am
Quoting N_Trader
knock knock...

Am I alone?


Nope
  • #28,729
  • Nov 2, 2011 12:04pm Nov 2, 2011 12:04pm
Quoting Jaro
Nope
Are we alone?
  • #28,730
  • Nov 2, 2011 12:09pm Nov 2, 2011 12:09pm
Quoting N_Trader
Are we alone?
Nope!

Jaro, N_Traderhttp://www.forexfactory.com/images/misc/1kt.gif, Invisible, tubguy+http://www.forexfactory.com/images/misc/6kt.gif, Invisiblehttp://www.forexfactory.com/images/misc/8kt.gif
  • #28,731
  • Nov 2, 2011 3:04pm Nov 2, 2011 3:04pm
ATM. greece bailout is frosen untill referendum... it's a rumour (!!) out of Cannes... a G20 official ??

what a mess
even with my eyes open i cannot see everything
  • #28,732
  • Nov 2, 2011 4:08pm Nov 2, 2011 4:08pm
Quoting j-pax
ATM. greece bailout is frosen untill referendum... it's a rumour (!!) out of Cannes... a G20 official ??

what a mess
well dont know what they are thinking... i think as chief said only thing left is if EURO keeps there act together or what they do..

BTW seems chief got some rest.

V
  • #28,733
  • Nov 2, 2011 4:19pm Nov 2, 2011 4:19pm
i see that i post alot of music. music is a way for me to reflect also relax and i like to share it.... i was hoping to hear some reply !! i always try to post music in twilight zone so i don't clutter trading talk.... i now don't know if i should start a thread for music, pictures, poetry etc. relating to trading and mind set... the TAF way... just post what comes to my mind here ??
or just keep my thoughts/music to my self!!!

please share your opinion!!!

pax
even with my eyes open i cannot see everything
  • #28,734
  • Nov 2, 2011 4:37pm Nov 2, 2011 4:37pm
Hope everyone had a good trading day. Saw the attached news item today. With all the stuff happening around the world, this would top it off:
http://news.sky.com/home/world-news/article/16101552
Next, invasion from Mars! fti, have you ever seen anything like this?
  • #28,735
  • Edited 4:56pm Nov 2, 2011 4:38pm | Edited 4:56pm
Quoting textor
Here the list of MF Global agents:

http://www.commoditybrokersonline.co...financial.html

Rgs,

Textor
Textor,

Thanks for the link. Refco was a partner with FXCM starting back in early 2003, allowing Refco's futures/commodities traders access to spot currencies. They owned about a third of the company if memory serves. Fxcm took over the forex side of Refco in 2005 during the scandal . I closed out my account there during this mess afraid their business relationship would be come into play. Never went back, although they were never directly linked in the courts.

Edit, Fxcm eventually sold the Refco stake to Lehman and Long Ridge Equity partners, had to look it up.

regards,
  • #28,736
  • Nov 2, 2011 5:28pm Nov 2, 2011 5:28pm
Hello fti,
It was such a thrill to get on the thread yesterday and see "fti" as one of the Traders viewing. I am so glad to be able to personally thank you for all your teachings here.
Have been around these forums the last 9 months and I think, one of the other threads recommended studying this thread. At the time it was all a blurr - fti, T101, feb, teb, skunny, Hopwood, eelfranz, Lawgirl, bobokus...etc etc. I was focussed on indicators,fibs, lines, graphs, code,files, mq4, and just sailed past. Now I'm coming to the realisation that most of those systems and Eas are probably not the solution for me, will have to go naked, with the flow.
I need to "watch my babies", send in scouts, rescuers, and dance!
I am only at page 27. Have a long way to go yet, but will get there.
So, thank you once again and hope you are enjoying better health these days.
EP
ps. Wish to also remember Leighsww, that "classy lady". A really sensitive and caring person. Her insights and humour are sorely missed.
  • #28,737
  • Nov 2, 2011 7:12pm Nov 2, 2011 7:12pm
Quoting auxesis
Textor,

Thanks for the link. Refco was a partner with FXCM starting back in early 2003, allowing Refco's futures/commodities traders access to spot currencies. They owned about a third of the company if memory serves. Fxcm took over the forex side of Refco in 2005 during the scandal . I closed out my account there during this mess afraid their business relationship would be come into play. Never went back, although they were never directly linked in the courts.

Edit, Fxcm eventually sold the Refco stake to Lehman and Long Ridge Equity partners,...
Hi Auxesis!

Regrettably, I think that there will be more news how these ...

Rgs,

Textor
  • #28,738
  • Nov 2, 2011 8:11pm Nov 2, 2011 8:11pm
hello every body

if anyone could help provide clues to distinguish between impulse and sweep ?

thx again
regard suma
  • #28,739
  • Nov 2, 2011 9:05pm Nov 2, 2011 9:05pm
Quoting sumakianlee
hello every body

if anyone could help provide clues to distinguish between impulse and sweep ?

thx again
regard suma
I would try to go to lower TF charts(1M) to identify these.

IMHO, for sweeps, you will see a sharp move in one direction, followed by a quick pull back. You need to star at candles to really tell.

For impulse, the move in the direction of the impulse is always strong and the counter movements are usually sluggish.

The seniors here would be able to provide more guidance I hope.

Trade well.

Regards
Jonathan
  • #28,740
  • Nov 2, 2011 9:44pm Nov 2, 2011 9:44pm
Quoting N_Trader
I would try to go to lower TF charts(1M) to identify these.

IMHO, for sweeps, you will see a sharp move in one direction, followed by a quick pull back. You need to star at candles to really tell.

For impulse, the move in the direction of the impulse is always strong and the counter movements are usually sluggish.

The seniors here would be able to provide more guidance I hope.

Trade well.

Regards
Jonathan
thx N for the replay

may i know whether you are trading just wait for a new impulse as I do?

regard
suma
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