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Technical Analysis Fallacy

  • #28,981
  • Nov 16, 2011 2:14am Nov 16, 2011 2:14am
Quoting indianguyinny24
i dont know this is rigidty or terrain...3rd time this year...if managed properly it gives you good return or truckload return...and people used to see once in 5-10 years we have been lucky enough to watch this 3 times this year and i think i ahve seen personally 4 times ...

some how MO is very different when they intervene..opening a large position for long still takes GUTS for me it can only be done when BOJ is behind you...

V

PS: Chief...Thanks....

ya at least b of j honourable and markets can respect their actions.
they give ample warning before they act with consistency.
not like some CBs do stealth trading.
same as insiders trading and manipulators.

regards
  • #28,982
  • Edited 2:41am Nov 16, 2011 2:17am | Edited 2:41am
Quoting fti

ya at least b of j honourable and markets can respect their actions.
they give ample warning before they act with consistency.
not like some CBs do stealth trading.
same as insiders trading and manipulators.

regards
talking about insider trading...this is amazing...this is legal...

http://www.cbsnews.com/8301-18560_16...e-information/


V

PS: time for bed
  • #28,983
  • Nov 16, 2011 2:34am Nov 16, 2011 2:34am
another "tear" in the gbp and eur right now?
  • #28,984
  • Nov 16, 2011 3:02am Nov 16, 2011 3:02am
Quoting fti
if lack $$$
then learn skills.
alternative is to try look for position trade for financial institutions.
they always need good traders with immaculate trading track record.
don't be demanding, just work for peanuts.
no one can keep good traders down.
If your boss not spot your talents, then someone else's boss will.


regards
Hi fti, where would be a good place to start? I have an engineering background and lack the paper qualification that most institutions are looking for... would companies like Philips Capital be a reasonable place? or is that not worth the trouble? I really hope that you can provide some advice here.

regards
  • #28,985
  • Nov 16, 2011 3:04am Nov 16, 2011 3:04am
Quoting simpleman
Hi Jonathan,

Yes, I am planning to do it full time, but just like you I will give couple of years time to accumulate some equity.
Thanks
Thanks for sharing Simpleman

It's encouraging to know that we are working towards the same goal.

All the best!
  • #28,986
  • Edited 3:20am Nov 16, 2011 3:10am | Edited 3:20am
Quoting N_Trader
Hi fti, where would be a good place to start? I have an engineering background and lack the paper qualification that most institutions are looking for... would companies like Philips Capital be a reasonable place? or is that not worth the trouble? I really hope that you can provide some advice here.

regards
thats broker.
dealers motto is "my word is my bond"
brokers is "SERVICE"
is very different.
One requires dealing skills, the other marketing.
In bank treasurys also have dealing room dealers, then there is TMU ( treasury marketing unit)
also there is difference.
There are 197 active trading banks operating in Far East. Mostly have offices in Sg.
Just for info , to my knowledge, non Local Sg banks or full banks operating in sg trades actively.




regards
  • #28,987
  • Nov 16, 2011 3:19am Nov 16, 2011 3:19am
Quoting fti
thats broker.
dealers motto is "my word is my bond"
brokers is "SERVICE"
is very different.
One requires dealing skills, the other marketing.
In bank treasurys also have dealing room dealers, then there is TMU ( treasury marketing unit)
also there is difference.


regards
Thanks for pointing out the difference I understand from my friend that they do have in-house trading arm. Not sure whose money they use to trade though..

The difficulty is that even if one is willing to accept peanuts, one might not get the job. Please pardon my ignorant... I am still trying to learn as much as I can..
  • #28,988
  • Edited 3:37am Nov 16, 2011 3:24am | Edited 3:37am
Quoting N_Trader
Thanks for pointing out the difference I understand from my friend that they do have in-house trading arm. Not sure whose money they use to trade though..

The difficulty is that even if one is willing to accept peanuts, one might not get the job. Please pardon my ignorant... I am still trying to learn as much as I can..

you will need learn the difference between real trading and ripping pips off customers.
anyway, if you want trade positions, need find positions in treasurys of foreign banks and merchant banks( investment banks).

well trading positions, need dealers who can fight. If you cannot fight for your position, then markets will eat you alive.
Anyway, for positions no need fight. If you are good. They all roll out red carpets on bended knees. But to get there you need establish track record. So now there are forex retail brokers, so show them what you are made of. The $ is not important . Is the ratios ie the % and your consistency.
Any nut can make a killing one day and gets killed the next. But it takes real balls, be consistent, thats where the skills. Any dunce can make killing in run trends. Is ability in all terrain, that separate boys from the men.
  • #28,989
  • Nov 16, 2011 3:34am Nov 16, 2011 3:34am
Quoting fti

you will need learn the difference between real trading and ripping pips off customers.
anyway, if you want trade positions, need find positions in treasurys of foreign banks and merchant banks( investment banks).

well trading positions, need dealers who can fight. If you cannot fight for your position, then markets will eat you alive.
Anyway, for positions no need fight. If you are good. They all roll out red carpets on bended knees. But to get there you need establish track record. So now there are forex retail brokers, so show them what...
ok. thanks for the advice...

I think i can fight. Just probably not the kind of fighting that they are looking for

I'm sure they would lay out even golden carpet for you chief..

I am only looking for the smallest possible entry. Sometimes in life, all you need is a chance.

So would Oanda qualify as retail forex?
  • #28,990
  • Edited 4:08am Nov 16, 2011 3:40am | Edited 4:08am
Quoting N_Trader
I'm sure they would lay out even golden carpet for you chief..

I am only looking for the smallest possible entry. Sometimes in life, all you need is a chance.

So would Oanda qualify as retail forex?
yes chance.
but we dealers, we make our own chance.
Not going get chance sitting on the behind.
Need kiss many frogs find prince charming.

regards

To my knowledge, there are 5 ratail forex brokers operating in sg.
Saxo,CMC,IGmarkets,GFT,Oanda.
used to be 7, but refco and ManFinancials died.
Oanda is only retail broker i know of that lets you trade for pittance.

come think of it, I remember one good broker in sg , run by freddy Lee, LKY's brother.
is called Vickers Ballas. I think they sold off to DBS. and i not know what had happened to it because seems broke up into pieces here and there.


There are sideshows broking by equity brokers like as you mentioned, philips,ocbc, oug
but they not developed in terms of their forex broking, mostly marketing of financial products for investors.

I am very sorry, but as a pro dealer, i view investors as suckers. Mostly peeps with money to park but lacking skills.

If you want good exposure to markets, there is SIMEX, now underelectonic trade scheme managed by SGX. SIMEX used to be a great open outcry exchange.
  • #28,991
  • Nov 16, 2011 3:48am Nov 16, 2011 3:48am
Quoting fti
yes chance.
but we dealers, we make our own chance.
Not going get chance sitting on the behind.
Need kiss many frogs find prince charming.

regards
Roger chief!

I will practice hard to earn my keep.
Btw, I have stopped asking many questions on this thread not because I have given up. Rather, I have been learning and practicing what you have presented. I am not 100% confident yet, but I think I am starting to understand the crux of your teachings. I can feel the pulse of the market now. Not all the time, but most of the time I am in sync. And I have much better discipline. Staying out of trades when there are no signs, controlling my trade position, etc.

As an engineer, I still find it hard to believe that it's that simple (i.e. no technical holy grails, no astrology, no complex drawing to UNDERSTAND the market). It's too good to be true. lol.

I am glad that I seek hard enuf to find your thread... although it's not really that hard to find the most read discussion but I really thank you for giving freely.

And one last thing... I really like the Cocoon story that you shared

Regards

I am using Oanda now, but I don't think they will consider me. I have yet to breakeven on that account due to my past 2 yrs losses. And given my position size now, it's going to take a pretty long time to BE. It's an ant's job afterall...
  • #28,992
  • Edited 5:14am Nov 16, 2011 4:51am | Edited 5:14am
Short bulk deployed... 1,3488
- Yep, need more practice...
Congrats Chief :-)
sq at ,75

Yes, we must go heavier there!

Strange market really... Like manipulation? Thin market when UP move and after.... booom strongly down, even, when M5E/U was strongly bullish pattern (Imho, please take it with reserve).
  • #28,993
  • Nov 16, 2011 4:53am Nov 16, 2011 4:53am
Quoting Fana
Short bulk deployed... 1,3488
ai ya your trigger finger very slow.
my bulk was at 1.3517/20 already tp at 90
felt like i sold markt down.
but i not size, so cannot be.

may have big guns shadowing me.
not sure though.
I do very wierd positions all over the place so not easy shadow me.
  • #28,994
  • Nov 16, 2011 6:20am Nov 16, 2011 6:20am
Quoting fti
Is the ratios ie the % and your consistency.
6 out of 10 trades, can it be consider consistent?

Don't think it is achievable.
  • #28,995
  • Nov 16, 2011 6:26am Nov 16, 2011 6:26am
Quoting fti
yes chance.
but we dealers, we make our own chance.
Not going get chance sitting on the behind.
Need kiss many frogs find prince charming.

regards

To my knowledge, there are 5 ratail forex brokers operating in sg.
Saxo,CMC,IGmarkets,GFT,Oanda.
used to be 7, but refco and ManFinancials died.
Oanda is only retail broker i know of that lets you trade for pittance.

come think of it, I remember one good broker in sg , run bTy freddy Lee, LKY's brother.
is called Vickers Ballas. I think they sold off to DBS. and i not know what had...
I believe you are referring to DBS Vickers. They have the fx arm called Vefx I think. I have an account with them long time ago. My very first account. Their platform Su...ks big time. The charts update once every 2 minutes I think. And they tell you it doesn't matter if you are trading long term. I also attended on of their seminars which taught you long term trading using MACD crosses. And yes, I lost 5k with them. Those were the days.
  • #28,996
  • Nov 16, 2011 8:07am Nov 16, 2011 8:07am
Quoting fti

cable market makers think we stupid or what
every one can see the euro cable tear.

set trap also not know how set properly.
What does a tearing euro cable mean? I just see a sideways moving market with a desire to move lower at some point?
  • #28,997
  • Nov 16, 2011 8:10am Nov 16, 2011 8:10am
watch that rogue trader defending the 13500
now at 13480
its traders like this when the flood gates opens on them
they cannot find a rock to hide under
thats why markets over shoot
imagine he need cut loss in vacuum

traders like trade against natural flow.
they create manipulated volatility
  • #28,998
  • Nov 16, 2011 8:12am Nov 16, 2011 8:12am
it doesn't matter how big they are
even if he was cb
he will still die like a dog, when the flood gates open
  • #28,999
  • Nov 16, 2011 8:16am Nov 16, 2011 8:16am
Quoting N_Trader
I believe you are referring to DBS Vickers. They have the fx arm called Vefx I think. I have an account with them long time ago. My very first account. Their platform Su...ks big time. The charts update once every 2 minutes I think. And they tell you it doesn't matter if you are trading long term. I also attended on of their seminars which taught you long term trading using MACD crosses. And yes, I lost 5k with them. Those were the days.
ya
it doesn't matters long term.
long term everyone dies.

I am sure that was not dealer talking to you.
Probably some wannabe marketing nut not know his stuff.
Thats why , mas requires all be licenced , so that the operation peeps educated and not talk shit.


next time some nut case tells you that.
ask him skip living tomorrow and see if he still have a life day after that.



regards
  • #29,000
  • Nov 16, 2011 8:52am Nov 16, 2011 8:52am
Quoting fti
ya
it doesn't matters long term.
long term everyone dies.

I am sure that was not dealer talking to you.
Probably some wannabe marketing nut not know his stuff.
Thats why , mas requires all be licenced , so that the operation peeps educated and not talk shit.


next time some nut case tells you that.
ask him skip living tomorrow and see if he still have a life day after that.



regards

I had tons of experiences with these marketing peeps. Looking back, it feels dumb and funny that I actually BELIEVED them! Lol!

If you have never contributed, I would still be blinded. I'm sure you have touched the lives of many besides me.

Just for the fun of it, you may wish to attend one or two seminars held by SGX Academy. Not sure if it's right for me to flame them here, but they sure provide a hell lot of entertainment

Regards
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