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Technical Analysis Fallacy

  • #30,041
  • Jan 18, 2012 9:24am Jan 18, 2012 9:24am
Quoting indianguyinny24
No idea on Gro, i msged him on FB he didnt replied back....Mahesh i had some good talk with him a month or so ago....

V
Thanks! In the back of my brain I have some worries about him, seems his last posts awile back he had run into some problems.

regards,
  • #30,042
  • Jan 18, 2012 9:27am Jan 18, 2012 9:27am
Quoting auxesis
Stay Humble.........


Fine line we have to walk between harnessing ourselves and releasing the fear needed to see us through, as trading is counter to our sanity most of the time.

edit: see Viv's response above
This is still i am working on....took a long long time still taking... but i guess lvoe the Johny walker line

"keep walking "

Quoting auxesis
Thanks! In the back of my brain I have some worries about him, seems his last posts awile back he had run into some problems.

regards,
Yup actually thats the reason i messaged him.....where is he keeps my mind rolling...
V
  • #30,043
  • Jan 18, 2012 9:36am Jan 18, 2012 9:36am
Quoting indianguyinny24
This is still i am working on....took a long long time still taking... but i guess lvoe the Johny walker line

"keep walking "



Yup actually thats the reason i messaged him.....where is he keeps my mind rolling...
V
V,

By now you already know your limits...... positioning size while keeping the ability to read and trade properly with $'s on the line..... we all have and know this line/level of risk mentally if we are honest with ourselves.

Once established, then you can work on stretching it. But ignoring it will put you in a trap, as your emotions will kick in when you're in a DD above your mental tolerance, you won't be able to think your way out, so most if they are lucky just pull the plug and take the big hit, others freeze hoping the market will come back.. worst is to abandon hope and relinquish the account to the markets whim as they still won't see the obvious.

regards
  • #30,044
  • Jan 18, 2012 9:41am Jan 18, 2012 9:41am
Quoting indianguyinny24
Keep your ego aside and you are as(replace with ass) good as(replace with ass) your last trade...and always make sure you are taking care of the book...book should be saved all the time(like king in chess)...profits will come....and if you cant follow a simple rule of 3X the daily profit as your cutoff loss...some tsunami will definaltey come...

again my 2 cents...

V
Hi Vic,

Thanks a million for your kind advice and wise words. I really have to learn this one day at a time. You are right about cutting lost. I typically do well for 2 months, almost 100% winning trades. And than the scorpion strikes... I get into a situation that I refuse to take a loser... and that can cost me a 10% draw down... the money they take is not a problem. it's the confidence they take that kills me... I need to keep that in check. otherwise, I will never make it as a trader.. And I really aspire to be one... like some of the senior guys here, someday.

I never knew that trading can teach me so much about my character flaws until i stumble upon this thread... and I am glad I did.

As you have said, keep walking, I shall.

Thanks again my friend. 101% appreciation.

Regards
  • #30,045
  • Jan 18, 2012 9:43am Jan 18, 2012 9:43am
Euro's just sitting here banging on the door of 2850..... is it gonna enter or walk away????/

Crazy for this time of day, with the exception of the other day, NY sessions have been pretty rangy.

Edit: thank you
  • #30,046
  • Jan 18, 2012 9:47am Jan 18, 2012 9:47am
Quoting auxesis
V,

By now you already know your limits...... positioning size while keeping the ability to read and trade properly with $'s on the line..... we all have and know this line/level of risk mentally if we are honest with ourselves.

Once established, then you can work on stretching it. But ignoring it will put you in a trap, as your emotions will kick in when you're in a DD above your mental tolerance, you won't be able to think your way out, so most if they are lucky just pull the plug and take the big hit, others freeze hoping the market...
Well i think most of veterans of this thread as you said know there limits at... i have many times closed the position with 1% loss whereas my threshold is 5%...when i saw myself loosing control on my mindset ...

for me the book is the result of doing thing right...like if you work out regularly and rightly you will look good...same way so i try to see my mindset and what needs to be done all the time..not sure if it is making sense... put it in this way...

Search for excellenece Success will follow...

i try to search for excellence and more i trade more i see it is soimewhere in me...and thats what i try to take it out..as you said with little stretching ourself...making us little uncomfortable ...like that...

After chief i love your posts auxesis...

V
  • #30,047
  • Jan 18, 2012 9:49am Jan 18, 2012 9:49am
Quoting auxesis
Stay Humble.........

In everything there's ebb and flow, ying & yang..... when your on a roll, you best be looking over your shoulder for the next draw down.

I say this figuratively, but it holds some truth, when we are in sync tradings easy.... easy also to get careless as there's no market checking your ego.... as the ego grows so normally does the size, we put on our Superaman underwear and we become bullet proof, at least mentally.

Fine line we have to walk between harnessing ourselves and releasing the fear needed to see us through, as...
Humility is a strange thing... the minute I think I've got it. I've lost it.

Thanks for pointing out to me, auxesis. I can understand your message. I am trying to maintain that inner balance. It's tough, but it's something that I truely hope to overcome.

I really have much to learn here... your description is very apt. A fine line we walk, indeed. One mis-step can be very costly.

I hope that I will be able to learn more from you and other pros here.

Regards
  • #30,048
  • Jan 18, 2012 9:50am Jan 18, 2012 9:50am
Quoting N_Trader
Hi Vic,

Thanks a million for your kind advice and wise words. I really have to learn this one day at a time. You are right about cutting lost. I typically do well for 2 months, almost 100% winning trades. And than the scorpion strikes... I get into a situation that I refuse to take a loser... and that can cost me a 10% draw down... the money they take is not a problem. it's the confidence they take that kills me... I need to keep that in check. otherwise, I will never make it as a trader.. And I really aspire to be one... like some of the senior...

Dont think as cutting loss... losses are part of this business...think it was not your day today and you want to be better prepared for tomorrow....so you want to be LIVE to fight tmorrow....MONEY and MENTAL wise....


V

PS: when was last time you read 200 pages of this thread???...i am rereading it again this year...its good to refresh memory adn the chief posts comes as different meaning everytime i read..
  • #30,049
  • Jan 18, 2012 9:53am Jan 18, 2012 9:53am
Quoting indianguyinny24
Well i think most of veterans of this thread as you said know there limits at... i have many times closed the position with 1% loss whereas my threshold is 5%...when i saw myself loosing control on my mindset ...

for me the book is the result of doing thing right...like if you work out regularly and rightly you will look good...same way so i try to see my mindset and what needs to be done all the time..not sure if it is making sense... put it in this way...

Search for excellenece Success will follow...

i try to search for excellence and more...
If someone wants to search for great posts, they need to look no further that what you just posted my friend.

Hopefully those who read it will learn from your experiences..... it could sve them a bunch of pain.

regards
  • #30,050
  • Jan 18, 2012 9:59am Jan 18, 2012 9:59am
Quoting indianguyinny24
Dont think as cutting loss... losses are part of this business...think it was not your day today and you want to be better prepared for tomorrow....so you want to be LIVE to fight tmorrow....MONEY and MENTAL wise....


V

PS: when was last time you read 200 pages of this thread???
I really like that think/mindset.

Everytime I suffer a terrible defeat, I will reread the first 200 pages. On page 20 now. And each time I learn more... Sometimes, I think that trading is like a mirror that reflects the best and the worst in me... And each time, I hope that I can eliminate a small part of the flaws in me. Hopefully, one day I will succeed. And be able to pass on that spirit to someone else.

Regards

P.S. on the daily chart, EU looks ripe for a short soon...may tonite/tomnorrow? really my 0.5pip worth...
  • #30,051
  • Jan 18, 2012 9:59am Jan 18, 2012 9:59am
Quoting auxesis
If someone wants to search for great posts, they need to look no further that what you just posted my friend.

Hopefully those who read it will learn from your experiences..... it could sve them a bunch of pain.

regards
Thanks

Na,

Just another guy wallking down the street minding his own business...wont lie this trading did CHANGED ME internally in many ways...

V
  • #30,052
  • Jan 18, 2012 10:01am Jan 18, 2012 10:01am
Quoting auxesis
If someone wants to search for great posts, they need to look no further that what you just posted my friend.

Hopefully those who read it will learn from your experiences..... it could sve them a bunch of pain.

regards
I'm glad I'm the first few to find it

Regards
  • #30,053
  • Jan 18, 2012 10:02am Jan 18, 2012 10:02am
Quoting auxesis
Euro's just sitting here banging on the door of 2850..... is it gonna enter or walk away????/

Crazy for this time of day, with the exception of the other day, NY sessions have been pretty rangy.

Edit: thank you
Well one last shot at breaking this thing for some distance.. see what happens but not holding much enthusiasm.
  • #30,054
  • Jan 18, 2012 10:02am Jan 18, 2012 10:02am
Quoting N_Trader
I really like that think/mindset.
And each time I learn more... Sometimes, I think that trading is like a mirror that reflects the best and the worst in me.....
this is Fact...

Quoting N_Trader

P.S. on the daily chart, EU looks ripe for a short soon...may tonite/tomnorrow? really my 0.5pip worth...
This is PREDICTION

sorry had to jump on this...
  • #30,055
  • Jan 18, 2012 10:05am Jan 18, 2012 10:05am
Quoting auxesis
Well one last shot at breaking this thing for some distance.. see what happens but not holding much enthusiasm.
Hi Auxesis. Thats accurate... Thanks
  • #30,056
  • Jan 18, 2012 10:09am Jan 18, 2012 10:09am
Quoting indianguyinny24
this is Fact...



This is PREDICTION

sorry had to jump on this...
I need to kill that predictive side of me, right?

No apologies needed, please. It's really for my good.
  • #30,057
  • Jan 18, 2012 10:11am Jan 18, 2012 10:11am
Quoting N_Trader
I need to kill that predictive side of me, right?

No apologies needed, please. It's really for my good.

Be water....


Inserted Video



See how much this relate to trading....


Inserted Video


V
  • #30,058
  • Jan 18, 2012 10:14am Jan 18, 2012 10:14am
Quoting Fana
Hi Auxesis. Thats accurate... Thanks
I think Ray had the right idea earlier...... he left.
about to pull the plug here myself, wait till Europe closes, though we might get some squaring
  • #30,059
  • Jan 18, 2012 10:14am Jan 18, 2012 10:14am
Quoting indianguyinny24
Be water....


http://www.youtube.com/watch?v=OW-cnizLDEE


See how much this relate to trading....


http://www.youtube.com/watch?NR=1&v=...ture=endscreen

V
This is awesome stuff

I will let my mind take it in slow...

Thanks, my friend.
  • #30,060
  • Jan 18, 2012 10:55am Jan 18, 2012 10:55am
http://www.washingtonpost.com/busine...y7P_story.html

"But so far, even countries relatively flush with cash as China or Brazil have been reluctant to put up more money for Europe. The United States is also reluctant to increase the fund’s resources."
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