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Technical Analysis Fallacy

  • #32,561
  • Mar 30, 2012 8:09am Mar 30, 2012 8:09am
Quoting phil13
when you finally wake up and realise that it is only YOU that can make your trading work for you it completely changes they way you view the market and you can then work out strategies that allow you to deal with all the unpredictability.
Phil.
If HolyGrail real exist, this is the real one-- your deep understanding about TAF.
I guess that's why new traders feel frustrated that Chief didn't say specific method.
  • #32,562
  • Mar 30, 2012 8:42am Mar 30, 2012 8:42am
Many thanks for the replies, i am slowly working through the 200 pages (on around 40 atm).
Rest assured i will post back after i get through them (hopefully this weekend).

Unfortunately my hand is forced into trading at the moment as income from my old job has practically dried up .There is simply no room for failure so i have to work through this time.
I already implement a clean chart strategy before i stumbled on this thread but i am eager to learn more.
Will post more thoroughly when i have time,
Thanks again
Dan
In pace, ut sapiens, aptarit idonea bello.
  • #32,563
  • Mar 30, 2012 8:42am Mar 30, 2012 8:42am
Quoting imjscn
When people get the answer of "read the first 200 pages", some of them feel offended.
In fact, this is the most kind answer. It speaks for their best benefit.
After we passed the "newbie" period, we realized it.
Yep! I have seen many get a little bent with that response. You are correct about it being "the most kind answer" though. What Fti has presented cannot be summed up in a post or two and cannot be understood with a scan of the first 200 post's.

The response should probably be "read the first 200 post's 5 times slowly" but
that would really offend most I'm sure.

TAF needs to be internalized like breathing. Imho.

Good Trading
Mike
  • #32,564
  • Mar 30, 2012 9:13am Mar 30, 2012 9:13am
Quoting imjscn
If HolyGrail real exist, this is the real one-- your deep understanding about TAF.
I guess that's why new traders feel frustrated that Chief didn't say specific method.
Yes, very well said imjscn.

When I first discovered this thread last year 2011, I was suggested to read the first 200 pages. It was not easy for me, as English is not my language, while the English use by FTI seems so sophisticated to me. But, I did read them and it was a very slow reading process for me and I have to go back & forth (flipping between pages of my dictionary). God I am glad I finished the home work that was given to me (the reading part). After that, you see the market differently.

The reading is only one part of the journey. Understanding what you have read was not an easy task for me, as there were never direct answer to the question asked back then in the first 200 pages. So, I thought there were no other way than to re-read the first 200 pages. So, I did. I went back to the first page, start again until I understand, go back again, move forward and back... even now I often go back to the first 200 pages.

Now, after the prerequisite is fulfilled i.e. reading the first 200 pages and grab some understanding, come the practice part. And OMG, Putting all the theory and instruction given in the user-manual into practice is really, really difficult. Trying to understand the first 200 pages was much, much easier. I have burn my account 2 times, during this practice session. Both due to sizing (my scorpion).

I also had a privileged to watch Mamood live trade last year, it was a rare opportunity. Thank you again Mamood. Well, a little different with FTI's style, but the MM was prudent that is the most important part of the TAF, right?

As for me, just when every time I think I nailed it, I slipped again and again. Old dog are difficult to train. And I am too afraid of asking question to this thread and all those 10+v really scared me.

oooppsss, I talk too much... sorry..


Regards,
Joko

PS. What is it with this eu?
  • #32,565
  • Mar 30, 2012 9:29am Mar 30, 2012 9:29am
Quoting tubguy
Yep! I have seen many get a little bent with that response. You are correct about it being "the most kind answer" though. What Fti has presented cannot be summed up in a post or two and cannot be understood with a scan of the first 200 post's.

The response should probably be "read the first 200 post's 5 times slowly" but
that would really offend most I'm sure.

TAF needs to be internalized like breathing. Imho.

Good Trading
Mike

Mike,

do you have any idea how long it took me to finish the first 200 pages? Four months.

But, the second round of reading the first 200 pages, was faster, less then 4 months.

Regards,
Joko
  • #32,566
  • Mar 30, 2012 9:32am Mar 30, 2012 9:32am
Quoting Jok
I also had a privileged to watch Mamood live trade last year, it was a rare opportunity. Thank you again Mamood. Well, a little different with FTI's style, but the MM was prudent that is the most important part of the TAF, right?
Yes, it's helpful to see it in action after learned the 200 pages.

tubguy's small account for the trading sessions still there. Is yours survived?
  • #32,567
  • Mar 30, 2012 9:35am Mar 30, 2012 9:35am
hi joko

you should never be afraid of asking questions... even if sometimes you do not get the response you want, someone here will always point you in the right direction to find the answer.

regards

Phil.

p.s the 10+v's are just people the same as anyone else.
-be careful about what you allow to be put in your mind-
  • #32,568
  • Mar 30, 2012 9:36am Mar 30, 2012 9:36am
Quoting imjscn
Yes, it's helpful to see it in action after learned the 200 pages.

tubguy's small account for the trading sessions still there. Is yours survived?
No, mine was blown, twice. Well, it was mini account.
  • #32,569
  • Mar 30, 2012 9:40am Mar 30, 2012 9:40am
Quoting phil13
hi joko

you should never be afraid of asking questions... even if sometimes you do not get the response you want, someone here will always point you in the right direction to find the answer.

regards

Phil.

p.s the 10+v's are just people the same as anyone else.

Hi Phil,

Thank you for the encouragement. I am afraid of asking question mainly due to my English.

regards,
Joko
  • #32,570
  • Mar 30, 2012 9:46am Mar 30, 2012 9:46am
hi joko

your english looks and reads perfectly fine to me, it is probably better than mine as i am dsylexic (and english).

i have found this is one of the the few threads that others do not try to bully you if you spell or say something wrong. (there are more important things going on here)

regards

Phil
-be careful about what you allow to be put in your mind-
  • #32,571
  • Mar 30, 2012 9:57am Mar 30, 2012 9:57am
Quoting Jok
Hi Phil,

Thank you for the encouragement. I am afraid of asking question mainly due to my English.

regards,
Joko

Ask as much questions you wanna ask....trust me everyone here came to this level by asking question....


V
  • #32,572
  • Mar 30, 2012 9:59am Mar 30, 2012 9:59am
Quoting Jok
No, mine was blown, twice. Well, it was mini account.
You guys were lucky.

When I was new, Dr.Forex was quite popular in the forums. I read his book and discussions in forum. With so much admire to trade like him, I agreed to pay $1320 for his training.

First day, I received a well designed PDF enrollment agreement;

Second week, I received some other PDF, most of the contents are copied and pasted from other trading books.(I have nearly 300 trading PDF, so I can recognize those well known contents)

Everyday I received a newsletter which obviously copied from Saxo bank's Daily Newsletter.

Dr.Forex encouraged me to open a trading account with Foxsol with his recommendation. I don't mind he gain commission from broker, but the damn part is-- I opened a $10k account.

There wasn't any guiding through the training. Only read the Saxo copy newsletters-- more confusing than reading TAF 200 pages

The account was burst in the 3rd month. His newsletter continued coming. I lost interest in him already.

So I decided to trade other HolyGrails, burn more accounts
  • #32,573
  • Mar 30, 2012 10:00am Mar 30, 2012 10:00am
Quoting phil13
hi joko

your english looks and reads perfectly fine to me, it is probably better than mine as i am dsylexic (and english).

i have found this is one of the the few threads that others do not try to bully you if you spell or say something wrong. (there are more important things going on here)

regards

Phil

Thank you for the kind word. Yes, people in this thread seems like one big family.

Regards.
  • #32,574
  • Mar 30, 2012 10:10am Mar 30, 2012 10:10am
Quoting Jok
Thank you for the kind word. Yes, people in this thread seems like one big family.

Regards.
Welcome Jok

I for one ask lots of noob questions... especially in the beginning. You can read my earlier posts and have a good laugh

But I always remind myself one thing - it's better to risk sounding dumb then to learn nothing at all

Hope that your journey and stay here will be as fruitful as most TAF folks

Regards
  • #32,575
  • Mar 30, 2012 10:15am Mar 30, 2012 10:15am
Quoting indianguyinny24
Ask as much questions you wanna ask....trust me everyone here came to this level by asking question....


V
Thank you Vick.

One of the question, that has been bothering me is this :

** What is most efficient return/profit for this style (TAF Style)?**

What I mean is let say, some people say it's 1% per day, some might say 50% a month etc. By efficient, I meant, doing it without putting the balance in danger (large DD).

Well, of course if we want to be very safe, we should trade very small, but then the return is too tiny.

Some say, the account must be able to sustain say 750 pips movement...
etc..etc...

I have been trying experimenting with this thing, that was one of the reason I blew my account, experimenting.

I hope you get the idea of what I am trying to ask, I'm not sure I articulate myself clear enough.

Thanks

Rgds.
  • #32,576
  • Mar 30, 2012 10:16am Mar 30, 2012 10:16am
Quoting imjscn
You guys were lucky.

When I was new, Dr.Forex was quite popular in the forums. I read his book and discussions in forum. With so much admire to trade like him, I agreed to pay $1320 for his training.

First day, I received a well designed PDF enrollment agreement;

Second week, I received some other PDF, most of the contents are copied and pasted from other trading books.(I have nearly 300 trading PDF, so I can recognize those well known contents)

Everyday I received a newsletter which obviously copied from Saxo bank's Daily Newsletter.

Dr.Forex...
Thanks for sharing, Jenny

I have also been there, done that. The fx company that I signed up with promise me a mentor to coach me. Everyday, she will sms me tons of news that are readily available on yesterday's newspaper and she kept encourging me not to give up trying, saying that my DD of 30% over a period of 2months is already very impressive for a beginner.

Later on, did I realised that - She has NEVER EVER traded on a live account before. What a joke. So anyway, I closed my trading account with them and took the money somewhere else to trade. Don't rem too well now, but i believe I lost those monies too in the end.

If not for this thread that fti started, I believe I will never see the light at the end of the tunnel.

Regards
  • #32,577
  • Mar 30, 2012 10:18am Mar 30, 2012 10:18am
Quoting Jok
Yes, very well said imjscn.

When I first discovered this thread last year 2011, I was suggested to read the first 200 pages. It was not easy for me, as English is not my language, while the English use by FTI seems so sophisticated to me. But, I did read them and it was a very slow reading process for me and I have to go back & forth (flipping between pages of my dictionary). God I am glad I finished the home work that was given to me (the reading part). After that, you see the market differently.

The reading is only one part of the journey....
This sounds much like my story, except english is my only language.

Kudo's to you for your persistence!
  • #32,578
  • Mar 30, 2012 10:20am Mar 30, 2012 10:20am
Quoting Jok
Mike,

do you have any idea how long it took me to finish the first 200 pages? Four months.

But, the second round of reading the first 200 pages, was faster, less then 4 months.

Regards,
Joko
I feel ya man! I don't even recall when I started reading this thread now. Seems a long time ago. I have gone back through it a few times since.
Each one gives new perspective.
  • #32,579
  • Mar 30, 2012 10:25am Mar 30, 2012 10:25am
Quoting N_Trader
Welcome Jok

I for one ask lots of noob questions... especially in the beginning. You can read my earlier posts and have a good laugh

But I always remind myself one thing - it's better to risk sounding dumb then to learn nothing at all

Hope that your journey and stay here will be as fruitful as most TAF folks

Regards

Thank you N Trader.

Yes, I love the atmosphere in this thread. People are helping each other here, like a big family.

I remember that in some other thread, I asked a question and the answer that I got was "Stupid, moron, muppet" and other similar words and they are all 10+v.

Rgds.
  • #32,580
  • Mar 30, 2012 10:25am Mar 30, 2012 10:25am
Quoting Jok
Thank you Vick.

One of the question, that has been bothering me is this :

** What is most efficient return/profit for this style (TAF Style)?**

What I mean is let say, some people say it's 1% per day, some might say 50% a month etc. By efficient, I meant, doing it without putting the balance in danger (large DD).

Well, of course if we want to be very safe, we should trade very small, but then the return is too tiny.

Some say, the account must be able to sustain say 750 pips movement...
etc..etc...

I have been trying experimenting with...

You are clear enough...

Let me ans you in simple way...

as in life when you start reading maths you start with
1 + 1 =2 then slowly you take to 3+3=6 and then so on...

but no one learnt 3 *3 =9 before understanding 1 +1 =2...

so to ans your question dont worry how much you make...nope...when i started i made 1 cent a day for couple of weeks...i remebered one day when i rescued a 10 cent drawdown i was happy dancing ...one of my friend looked at me and thought eithe rhe is crazy or he know what he is doing...

so rather then thinking about how much to make... think about learning how to trade...dont worry how much % to make how much pips i think it should go against me...just keep the drawdown in prespective...
and for drawdown i keep my drawdown max at 5% ...again when you start i will advise 1-2% (when i reach this drawdown i keep things in prespective so i know it can go to 5%) as this time you are trying to learn... and slowly build your skill....i read aearlier you scared of 10+v guys i am one of those and trust me i still shake when i have to hit Level 6 rescue ....so we all are still learning....

My friend Learn to trade well and in sometime you will see your journey started with one step and when you look back you will feel proud how far you come back...


V
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