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Technical Analysis Fallacy

  • #30,441
  • Jan 30, 2012 9:11am Jan 30, 2012 9:11am
Quoting fti
I had Been thinking alot.
This the result.

AGAINST THE ODDS.
----------------

I seem now see another perspective to Forex trading.
One side of the coin I had not noticed.
Mainly because all career, I had been under the protection in Banks.
Banks paid me salaries, hardship allowance and some profit sharing.When things were slow, there's still income to go on.

For a person , taking on the markets, they are like enterpreneurs, who start their own trading companies.
When times are slow or difficult, they still have cost of living of their...
Hi fti,

few points to consider:

I work for my employer 9 to 5 and most of the time I have do it on computers, when I can use computers 7-8 hours for my employer then can't I do it for my own business.

I have kept 10% of my saving for trading. 10% of that 10% has been kept with broker for everyday trading. I won't risk all the money with the broker, maximum limit is 10% loss and I will close the trade. Lots of trader over expose themselves and blow up. Several occassion I have hit and run trades when I am not sure about flow and it has saved me from lots of loosing trades.

With the small deposits I have I want to see it grow substantially then I will know that I am doing it right and at the stage I can use remaining 90% of the 10% trading capital. That moment hasn't come yet but hopefully by end of 2012 I will know where do I stand and then I can start putting in more money into my trading account on gradual basis.

I also think it is better to start with very small capital and take it seriously, once it has grown then gradually add more money into it, if one keep doing it right then there will be time (may be it will take 10 years) when one can say good bye to full time job and make trading your profession. To make $50k a year one needs at-least $200k in my opinion. It is not difficult to work out how you are going to reach $200k capital goal if you have 5-10 year plan.

I wouldn't even think of putting my 100% savings into a business where I have no control over prices.

Hope I didn't say anything wrong.

Regards
  • #30,442
  • Jan 30, 2012 9:25am Jan 30, 2012 9:25am
Dear FTI;


I can deeply sensed your compassion for all the 'lost weary sheep" of the forex world that are lead astray and your resolve all these year to bring them back to the fold.

But you can just do that much.Your disciples that you nurtures these past years are your legacies of your fruit of your labours.They are always here to carry the flag and let it fly high.


In one way or another they had assist me when I ask questions and greatly help me.Your trading wisdom is already ingrained upon them.

Even though I am late to the parties but I find myself very fortunate to received this trading bible without going thru 4 years of waiting.

Using forex tester I am able to replicate your exact trade setup and repeat it endlessly until it sink in.Even the 3 Kingdom can be setup like you mentioned.

So please do rest assured that your works lay the pillar of foundations that those who heed your call to hardwork will reap the success you wanted for them.


I want to sincerely thank you and all your sidekick that made my journeys very rewarding.

Many are called but few are chosen.
  • #30,443
  • Jan 30, 2012 10:01am Jan 30, 2012 10:01am
Hi imjscn,

I'm sorry to hear about your eyes. But was glad that it is not life threatening. Do seek for a 2nd opinion like guandi suggested. I pray that all will be well for you. Continue to be positive and strong .... and don't be despair.
There are still many things you can do and ... waiting for you to do. Do try to relax your mind and let your mind take a break too.

When your spirit have enough rest, it will provide you with strength to face any challenges that lies ahead. Stay positive and take good care!!
  • #30,444
  • Jan 30, 2012 10:23am Jan 30, 2012 10:23am
Quoting fti
I had Been thinking alot.
This the result.

AGAINST THE ODDS.
----------------

I seem now see another perspective to Forex trading.
One side of the coin I had not noticed.
Mainly because all career, I had been under the protection in Banks.
Banks paid me salaries, hardship allowance and some profit sharing.When things were slow, there's still income to go on.

For a person , taking on the markets, they are like enterpreneurs, who start their own trading companies.
When times are slow or difficult, they still have cost of living of their companies,...
I think you have covered a lot of it there, at least from my experience. At the end though, it is an individual journey, which is one of the reasons I don't say too much these days. Finding one's stress limits, capital limits and time is an individual journey that needs tuning. You have covered pretty much everything in your teachings and I think it is up to us to discover how to put this knowledge to good use.

As auxesis mentioned, we need a business plan. Personally, most of it was extracted from my interpretation of AOW.

Something I also realised fairly early, and this was discussed with Leigh, was the health aspect. It is important that we take care of ourselves and not over do it. I know my eyes have deteriorated at I get older, probably more than they should have, but I have been stuck in front of a computer screen since I was 10 years old.

fti, isn't this all part of the learning curve? We need to experiment with all of the ingredients. Finding ourselves, our capital limits, taming our greed, understanding our scorpions. Our dance, timing, feel, emotions. Improving our skills, managing life and providing for the family. Where is the balance? There is no single recipe that suits all.

Sometimes we overdo it. We learn.

imjscn, hoping you get well soon. Time for a rest?
  • #30,445
  • Jan 30, 2012 3:50pm Jan 30, 2012 3:50pm
Quoting fti
jack,
no matter is still good living. no?

regards

Hi F, sorry for the delay.
Yes of course sir, living is good.
Rgds
  • #30,446
  • Jan 30, 2012 3:58pm Jan 30, 2012 3:58pm
Quoting imjscn
Thanks Jack!
Shame on me. A combination of eye problem and low spirit made me a selfish creature. When fti scolded me for my trading mistake, all negative words automatically popped out from me, I didn't realize how negative I sounded.
Anyway, I'm now waiting for further steps on the eye treatment. There's nothing others can do. but your caring encourages my fighting spirit. Thanks!
I'm pround that I have classmates in top banks
I'm sure they'd be happy to hear from a classmate as well.

Rgds.
  • #30,447
  • Jan 30, 2012 8:27pm Jan 30, 2012 8:27pm
Quoting Zoran
imjscn, hoping you get well soon. Time for a rest?
Ya, Zoran, I've been living by raw nerves. Now it's time to face the flesh and bones.
guys, thanks for all the encouragements! I've been reading Phil13's story many times. I'm learning. Thanks!
  • #30,448
  • Jan 30, 2012 10:26pm Jan 30, 2012 10:26pm
Quoting phil13
Life will always sort itself out, we are programmed to survive whatever it throws at us, even if it seems impossible at times.

Salute.....

V
  • #30,449
  • Jan 30, 2012 11:14pm Jan 30, 2012 11:14pm
Ok so will Boj gonna do something...


BTW i am long UJ.... very light exposed...


V
  • #30,450
  • Jan 31, 2012 2:05am Jan 31, 2012 2:05am
is shutters down situation
seems boj intends on defend against month end usd sales and repatriation.
be sharp.
no gamble
flow.
may only show if usd/yen is hammered


regards
  • #30,451
  • Edited 2:46am Jan 31, 2012 2:36am | Edited 2:46am
they seems lifting gold , holding weak currencys and lifting stronger ones.
The world is very short on the euro. All becoming easy pray for manipulation.
I sure like live see these master of the universe manipulators eat their shit.
I still waiting see who this rogue is, this time i think will be a big fish.
Hope they get what they deserves.

For traders, so long as you are within manageble limits.
you should be ok.
Contingrncys , contingencys , contingencies.
Over extend and you in rogue list.
Already abnormal markets, bad german figs are having no impact on the market.



regards
  • #30,452
  • Edited 4:56am Jan 31, 2012 4:35am | Edited 4:56am
i suspect they gonna bring all things high high to sell
already many caught in the euro cage.
So will have much victims
when force boj intervene then they get cheap yen
full volatility game


regards
  • #30,453
  • Jan 31, 2012 5:20am Jan 31, 2012 5:20am
Hi Fti and friends, i just want to say this thread has been amazing Fti you are an amazing teacher. I think i've recieved more wisdom about life than trading from you.

I have'nt traded in a while cause about 4-5 months ago I realised what my scorpion was. I work full time, married and three young children and thought this is how i was going to take care of them (forex). So............(enter scorpion) I would go on my creidt card to get funds to trade. Months went by and nothing happened for me, lost it all. I just felt so bad. But only then is when the scorpion story came back to me and i realised what i was doing and where i was heading. And if you did'nt tell that story I don't know what i would have leant on. Thank You!!!

I'm in a better position (on the sideline), not trading, budgeting and saving for my kids and slowly i will go through the thread again and trade with a clear mind and with saved funds.

You have given the knowledge we have to find the wisdom ourselves within ourselves.

God Bless you sir and again i say Thank You.



[quote=fti;5337804]I had Been thinking alot.
This the result.

AGAINST THE ODDS.
----------------

I seem now see another perspective to Forex trading.
One side of the coin I had not noticed.
Mainly because all career, I had been under the protection in Banks.
Banks paid me salaries, hardship allowance and some profit sharing.When things were slow, there's still income to go on.
  • #30,454
  • Edited 7:21am Jan 31, 2012 6:03am | Edited 7:21am
OK the price of failure.
Thanks to Jamie for the link and thanks my frind for the email.

http://online.wsj.com/article/SB1000....html?mod=e2tw

Some big boys also fall.
I not believe thay bad people, probably wrong mindset only, maybe have bad bosses.
(Sorry but i have great distaste for generals who hangs their men out to dry)
maybe wrong ambitions.
Notice something. Many use Big on long swords. Double edge and sharp invisible killings.
Remember, these are pros.
If pros can cut themselves, amateurs must be very careful. Prudence!
takes a lot be master of the universe, you know.
easier just be master of your own ship.
If its a small sampan, try not go fishing in deep waters.
In storms, no take gamble, flow with the tide.
Just because you have GPS, not makes it any safer be in deep blue.


regards

PS: when in loss, beware "hedging".
Reality is best. When in rescues use brain, watch terrain.
:0 ok, now we watch them rescue the euro. Is aircraft carrier big enough?
how difficult can a simple landing be?
i know friends that done thousands of sorties. CAREFULLY.
Inserted Video
  • #30,455
  • Edited 7:51am Jan 31, 2012 7:34am | Edited 7:51am
I have capt friend, he flies "green endorsed rotor man". Latest i think he made 6 th bars.
when he drives, he never exceeds 100kmph.

Me when i was young, dragster, because my machine was fast. I was fixed winged man. Need for speed.
Nearly died under a truck once. never again since.
The extra power, use only when necessary. Normally never need use.
Same with trades, don't develop bad habits.
consistency is best. know your limits.


regards
  • #30,456
  • Jan 31, 2012 7:54am Jan 31, 2012 7:54am
Hi Sir,
Lots of Love and Regards to you
I am still arround still working on myself and applying the skills I am learning from this wonderful thread, only thing is that my speed is snail paced, I guess that explained by what you wrote here .....
I have to re read the tread again for sure.

Many Many Thanks
Kanwar

Quoting fti

The methodology i presented requires professional focus and may not be viable for those whose indulgement in trading is on investment or part time basis. Juggling between what you need do in your native professions and the stress and wear that professional trading will most certain be a drain on your energies & health.

Now thinking, What is the crtical mass of capital required? What does trading for peanuts do except for learning?
  • #30,457
  • Jan 31, 2012 8:04am Jan 31, 2012 8:04am
Quoting ksl
Hi Sir,
Lots of Love and Regards to you
I am still arround still working on myself and applying the skills I am learning from this wonderful thread, only thing is that my speed is snail paced, I guess that explained by what you wrote here .....
I have to re read the tread again for sure.

Many Many Thanks
Kanwar
Hi
gave me a shock.
I know one ksl in simex.
when he came to simex drive small japanese car.
after 2 years in simex drives 360 merc.
Your callsign is very auspicious one in my opinion.
Slowly no need rush, just pace yourself.

regards
  • #30,458
  • Jan 31, 2012 9:49am Jan 31, 2012 9:49am
One day, a poor boy who was selling goods from door to door to pay his way through school, found he had only one thin dime left, and he was hungry.

He decided he would ask for a meal at the next house. However, he lost his nerve when a lovely young woman opened the door. Instead of a meal he asked for a drink of water. She thought he looked hungry so brought him a large glass of milk. He drank it slowly, and then asked, "How much do I owe you?" "You don't owe me anything," she replied. "Mother has taught us never to accept pay for a kindness." He said..... "Then I thank you from my heart."

As Howard Kelly left that house, he not only felt stronger physically, but his faith in God and man was strong also. He had been ready to give up and quit.

Year's later that young woman became critically ill. The local doctors were baffled. They finally sent her to the big city, where they called in specialists to study her rare disease. Dr. Howard Kelly ! was called in for the consultation. When he heard the name of the town she came from, a strange light filled his eyes. Immediately he rose and went down the hall of the hospital to room. Dressed in his doctor's gown he went in to see her. He recognized her at once. He went back to the consultation room determined to do his best to save her life. From that day he gave special attention to the case. After a long struggle, the battle was won.

Dr. Kelly requested the business office to pass the final bill to him for approval. He looked at it, then wrote something on the edge and the bill was sent to her room. She feared to open it, for she was sure it would take the rest of her life to pay for it all. Finally she looked, and something caught her attention on the side of the bill. She read these words..... "Paid in full with one glass of milk"

Signed Dr. Howard Kelly. Tears of joy flooded her eyes as her happy heart prayed: "Thank You, God, that Your love has spread abroad through human hearts and hands."
  • #30,459
  • Edited 10:26am Jan 31, 2012 10:07am | Edited 10:26am
http://www.reuters.com/article/2012/...8CU78920120130


V
  • #30,460
  • Jan 31, 2012 10:45am Jan 31, 2012 10:45am
Quoting indianguyinny24
[font=Arial]One day, a poor boy who was selling goods from door to door to pay his way through school, found he had only one thin dime left, and he was hungry.

He decided he would ask for a meal at the next house. However, he lost his nerve when a lovely young woman opened the door. Instead of a meal he asked for a drink of water. She thought he looked hungry so brought him a large glass of milk. He drank it slowly, and then asked, "How much do I owe you?" "You don't owe me anything," she replied. "Mother has taught us never to accept pay...
vic, Kind people are everywhere, only just that their kindness never get broadcasted or published. They too humble to accept. Have seen much of it in life.
It normally ego gets attention. Humility acts quietly. Its everywhere, more than evil.

regards
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