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Technical Analysis Fallacy

  • #30,701
  • Feb 6, 2012 9:55pm Feb 6, 2012 9:55pm
Quoting auxesis
Vic,

I always thought they were swallowing everything below 76.00, when they saw a chance to domino stops they'd blast off a shot or two but it was just a waiting game, who had the bigger bankroll.....

Euro's pushing trying to find some orders, lets see if it gets to 3080 and what happens there

yup i saw something similar and loaded some guns around 76.0X when it went to 76.50s closed it...now just doing small longs....

Personally my scorpio has got me stucck in aussie trade....


V
  • #30,702
  • Feb 6, 2012 10:02pm Feb 6, 2012 10:02pm
Quoting indianguyinny24
yup i saw something similar and loaded some guns around 76.0X when it went to 76.50s closed it...now just doing small longs....

Personally my scorpio has got me stucck in aussie trade....


V
Hummmm..............be careful there, with Ben's doom and gloom until 2014, anything with an interest positive swap will be hard to turn.

Yen wise I've still got a partial running long, was hoping for another pop $!!!!

I'm a buyer every time it hits the lows any more.

As for the Chi/Qi demos, they're for real.
  • #30,703
  • Feb 6, 2012 10:04pm Feb 6, 2012 10:04pm
euro chicken out didn't want to test the dragons back..... we're ranging till London
  • #30,704
  • Feb 6, 2012 10:09pm Feb 6, 2012 10:09pm
Quoting auxesis
euro chicken out didn't want to test the dragons back..... we're ranging till London
yea made the money on Euro when it got busted along AU....just this Aussie ...

V
  • #30,705
  • Feb 6, 2012 10:13pm Feb 6, 2012 10:13pm
Quoting indianguyinny24
yea made the money on Euro when it got busted along AU....just this Aussie ...

V
where's your average
  • #30,706
  • Feb 6, 2012 10:18pm Feb 6, 2012 10:18pm
Quoting auxesis
where's your average
Nothing to worry about .... 7x at 1.0730 ...still 90 troops outside...

Might kill them all if i feel the upwards pressure is still intact around 1.08x...


V
  • #30,707
  • Feb 6, 2012 10:24pm Feb 6, 2012 10:24pm
Quoting indianguyinny24
Nothing to worry about .... 7x at 1.0730 ...still 90 troops outside...

Might kill them all if i feel the upwards pressure is still intact around 1.08x...


V
The rate news defiantly spiked it, but seems to be falling off and fading atm, yeah ride it back as far as you can, just don't let it get away from you. Don't want to say anything to jade your feel or thoughts. You know what to do.
  • #30,708
  • Feb 6, 2012 10:24pm Feb 6, 2012 10:24pm
Check back later everyone
  • #30,709
  • Feb 7, 2012 12:13am Feb 7, 2012 12:13am
Quoting indianguyinny24
Nothing to worry about .... 7x at 1.0730 ...still 90 troops outside...

Might kill them all if i feel the upwards pressure is still intact around 1.08x...


V
Hi V,

With 90 troops outside, will you consider riding it to the 1.1xx range? seems like a very plausible rescue point to me...

Don't have to answer if you do not feel comfortable with it. I am thinking that it's probably something that I will do. Hope my question is not inapropriate...

regards
  • #30,710
  • Feb 7, 2012 5:05am Feb 7, 2012 5:05am
look at the guy how much he was making and then lost Ł17m.

http://www.dailymail.co.uk/news/arti....html?ITO=1490
  • #30,711
  • Feb 7, 2012 8:54am Feb 7, 2012 8:54am
Truly a master....

Inserted Video


regards
  • #30,712
  • Edited 12:53pm Feb 7, 2012 8:58am | Edited 12:53pm
Quoting N_Trader
Hi V,

With 90 troops outside, will you consider riding it to the 1.1xx range? seems like a very plausible rescue point to me...

Don't have to answer if you do not feel comfortable with it. I am thinking that it's probably something that I will do. Hope my question is not inapropriate...

regards

DONT EVER DO THAT...in that case you are riding aginst Trend and you are acting as God...

I closed my 3 troops when spike came back to 1.076 then had average of 4 troops at 1.0710...i am still taking some profit and closing each troop in no loss...my MO is diferent becauzse i have job and i need to work in that window...

honestly best bet is to cose the troops and take the loss...but i still smell something that i can bring troops back with no loss....may be it smy overconfidence...

V

PS: read the thread carefully... i smell a little overconfidence...
  • #30,713
  • Feb 7, 2012 9:08am Feb 7, 2012 9:08am
Sorry to hear about news.

I had a personal lesson reinforced a few days ago. A few things have come up to make me feel gloomy recently. While I was eating, I overheard the girl besides me conversing about her struggle with cancer. I have much respect for her positive outlook. Silver linings.
  • #30,714
  • Feb 7, 2012 11:49am Feb 7, 2012 11:49am
Quoting indianguyinny24
DONT EVER DO THAT...in that case you are riding aginst Trend and you are acting as God...

I closed my 3 troops when spike came back to 1.076 then had average of 4 troops at 1.0710...i am still taking some profit and closing each troop in no loss...my MO is diferent becauzse i have job and i need to work in that window...

V

PS: read the thread carefully... i smell a little overconfidence...
Thanks Vic, I really appreciate this lesson that you r teaching me. I will read the thread again...

I am trading very very small size now. Mayb that's y I tend to have a higher threshold for pain... But I think my mindset is wrong. Will recheck that.

Thanks again for your kindness...

Regards
  • #30,715
  • Feb 7, 2012 12:25pm Feb 7, 2012 12:25pm
Quoting N_Trader
Thanks Vic, I really appreciate this lesson that you r teaching me. I will read the thread again...

I am trading very very small size now. Mayb that's y I tend to have a higher threshold for pain... But I think my mindset is wrong. Will recheck that.

Thanks again for your kindness...

Regards
The objective is to make profit...sometime it changes to cut down the loss....

V
  • #30,716
  • Feb 7, 2012 12:29pm Feb 7, 2012 12:29pm
I came across something I liked today and it hit the spot:

The Two Wolves:

One evening an old Cherokee told his grandson about a battle that goes on inside all people. He said, “My son, the battle is between two 'wolves' inside us all.

“One is Evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.

“The other is Good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion and faith.”

The grandson thought about it for a minute and then asked his grandfather: “Which wolf wins?”

The old Cherokee simply replied, “The one you feed.”
  • #30,717
  • Feb 7, 2012 12:41pm Feb 7, 2012 12:41pm
Quoting Zoran
I came across something I liked today and it hit the spot:

The Two Wolves:

One evening an old Cherokee told his grandson about a battle that goes on inside all people. He said, “My son, the battle is between two 'wolves' inside us all.

“One is Evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.

“The other is Good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion and faith.”

The...
very true!
  • #30,718
  • Feb 7, 2012 1:44pm Feb 7, 2012 1:44pm
Quoting Zoran
I came across something I liked today and it hit the spot:

The Two Wolves:

One evening an old Cherokee told his grandson about a battle that goes on inside all people. He said, “My son, the battle is between two 'wolves' inside us all.

“One is Evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.

“The other is Good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion and faith.”

The...
Hi Zoran

excellent, i can see why it the spot. thanks for sharing.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #30,719
  • Feb 7, 2012 5:52pm Feb 7, 2012 5:52pm
Hey Guys,

How do I deal with my impatience? Almost every time I get in a draw down, I end up killing it. Only to watch it move enough in my favor to get even or profit.

This has been one of those scorpions that I just can't seem to shake.

Any advice would be greatly appreciated.

Good Trading
Mike
  • #30,720
  • Feb 7, 2012 6:11pm Feb 7, 2012 6:11pm
Quoting tubguy
Hey Guys,

How do I deal with my impatience? Almost every time I get in a draw down, I end up killing it. Only to watch it move enough in my favor to get even or profit.

This has been one of those scorpions that I just can't seem to shake.

Any advice would be greatly appreciated.

Good Trading
Mike
Mike,

It sounds like your bumping up against your pain threshold in relation to your trading size. that and grouping your position to close together. The downside to this methodology is it's suppose to be without time and pocketbook restraint. The ability to hand off the position to someone else, round the clock monitoring with plenty of money helps, dugh!

However to us mere mortals we have to fight the battles we can, if we hurry into a position, commit our resources too quickly or are not prepared time wise for the market to take it's time we can find ourselves being squeezed both in time or money or BOTH to see the trade correct (we wouldn't be in a position to cash some in and set a hard stop with profits on the chance for further profit) instead we are in the rears and leaving it invites disaster.

To combat this you have to stretch your trade parameters, either in downsizing your initial entry size, or allowing more time to trade ..... in essence playing a much bigger piece of the chart allowing more travel room... depends on where the problem exists, can tell from your posts.

If we are in our comfort zone, trade ups and downs don't effect us, when we are feeling the pain we know somethings up, experience allows us to maintain the brain when under stress, familiarity with the stressful conditions.

The same can be said on the flip side when we hurry to exit.......proper timing is in part due to proper positioning
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