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Technical Analysis Fallacy

  • #34,581
  • Jul 1, 2012 8:33pm Jul 1, 2012 8:33pm
Quoting fti
situation recap.
usd situation: the over printing feeding the over spending had made situation feeding on savings. So in devaluation state.

euro: they open the vaults big time, placed some guarding wide open vault.

anything should be better than both this. But timing timing timing.

4th July first.

http://www.youtube.com/watch?v=B-DLhuNbj8I
  • #34,582
  • Edited 8:54pm Jul 1, 2012 8:37pm | Edited 8:54pm
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  • #34,583
  • Jul 1, 2012 10:57pm Jul 1, 2012 10:57pm
Hi FTI sir how r you? Since we are watching Elvis though might share this

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  • #34,584
  • Jul 2, 2012 1:59am Jul 2, 2012 1:59am
Quoting Inphi
It doesn't even matter whether you use stop loss or not, stop hunting would occur. Remember, you are not the only trader that's sending orders to your broker. If you set a mental stop order at a particular level, the pair will reach that level because thousands of other traders have probably sent actual stop loss orders for that level.
To survive you'll have to learn to assume some additional risk when trading and never think that the derivative you are trading will simply reverse at exactly or even +/-5 pts a S/R level.


Hi Inphi


there are other ways of surviving that are not so fixed and rigidly set to a price.


It is how many pips you loose in bad situation that counts not at what price you loose them.


Regards


Phil.
-be careful about what you allow to be put in your mind-
  • #34,585
  • Jul 2, 2012 2:39am Jul 2, 2012 2:39am
TO WHOM IT MAY CONCERN.

Look, for the very last time.
There are lots stupid peeps live in this world.

THE MOST STUPID OF THEM ARE THOSE THAT COME INTO OTHERS THREADS NOT READ IT AND START MAKE ABSOLUTELY RIDICULOUS CLAIMS THAT THEY CANNOT DO THEMSELVES.

if YOU MAKING LOTS OF MONEY THEN YOU QUALIFIED MAKE STATEMENTS ABOUT WHAT YOU DO to help others.
BUT EVEN THEN YOU SHOULD DO SO IN YOU OWN THREAD WHICH YOU SHOULD START YOURSELF.

If you want come here teach stuff that i have explained and ask not to do, then you asking to be fucked. Now, how stupid is that? But of course i cannot go to your thread and tell you what you doing is stupid. But if you come here then what else did you expected?

But of course if you have read the thread and found what i told unacceptable then you are at liberty challange me. OK, fair enough?


regards
  • #34,586
  • Edited 2:59am Jul 2, 2012 2:47am | Edited 2:59am
Quoting Inphi
It doesn't even matter whether you use stop loss or not, stop hunting would occur. Remember, you are not the only trader that's sending orders to your broker. If you set a mental stop order at a particular level, the pair will reach that level because thousands of other traders have probably sent actual stop loss orders for that level.
To survive you'll have to learn to assume some additional risk when trading and never think that the derivative you are trading will simply reverse at exactly or even +/-5 pts a S/R level.
It does matters. but if you choose to be one of those who die by 1000 arrows thats your business. Please don't go telling others to be as stupid as you.

Of course thousand of peeps puts stops in the market. Its norm market practise for the undercapitalised, overtrading and novice.
Oh some "professionals" also uses them. Thats because if their asses not covered and over lose their limits their bosses will fry their asses.

Just be in the know, when we come for it, We will be the ones triggering your stops when we can. And i not care if you can draw straight lines or not.
Supports will be supports and resistance will be such , if we fail penetrate it. You want put your stops where you have lines is fine. Who else can we make the $$$ from..


regards
  • #34,587
  • Edited 3:31am Jul 2, 2012 3:15am | Edited 3:31am
Quoting Skynet
Interesting. first, thanks for the response, simpleman. here is my take on S/R:

ON S/R

Like every other ..............


***APART FROM MY TRADING EXPERIENCE, I CAN PRETTY MUCH BACK UP EVERYTHING WRITTEN HERE WITH ANALYTICAL STUDIES***

regards,

skynet
Every instinct in me tells me you not trading.
Try back up what you said with profit pips instead of some cockkoo doo hypothesis.

I not even think you are wrong, i thinking you too 'clever' for you own good and lack market experience.
By the way , do you understand the difference between exchange traded instruments and the OTC markets. Do you understand the word 'price infraction'?


regards
  • #34,588
  • Edited 3:58am Jul 2, 2012 3:31am | Edited 3:58am
Quoting duyk20
Clean up report submitted.
not necessary.
how would peeps learn?

In fact i have nothing against them, they are given the liberty read and learn.
Only if they want to.

Is not shameful being wrong, only shameful lose $$$.

Actually many came here, with wrong mindset and MOs.
The masses is in much deception, is hard see the light without experience.
but some learned and moving ahead.
I spoke nicer then, because no one showed the way.
Now i become more in tolerant of their deception.
Because i just hate lazy peeps who need to be spoon fed even when is in front of their eyes.

regards

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  • #34,589
  • Jul 2, 2012 5:54am Jul 2, 2012 5:54am
Quoting fti
Every instinct in me tells me you not trading.
Try back up what you said with profit pips instead of some cockkoo doo hypothesis.

I not even think you are wrong, i thinking you too 'clever' for you own good and lack market experience.
By the way , do you understand the difference between exchange traded instruments and the OTC markets. Do you understand the word 'price infraction'?


regards
Most likely just a prep for selling snakeoil

Regards
  • #34,590
  • Jul 2, 2012 7:00am Jul 2, 2012 7:00am
Quoting fti
TO WHOM IT MAY CONCERN.

Look, for the very last time.
There are lots stupid peeps live in this world.

THE MOST STUPID OF THEM ARE THOSE THAT COME INTO OTHERS THREADS NOT READ IT AND START MAKE ABSOLUTELY RIDICULOUS CLAIMS THAT THEY CANNOT DO THEMSELVES.

if YOU MAKING LOTS OF MONEY THEN YOU QUALIFIED MAKE STATEMENTS ABOUT WHAT YOU DO to help others.
BUT EVEN THEN YOU SHOULD DO SO IN YOU OWN THREAD WHICH YOU SHOULD START YOURSELF.

If you want come here teach stuff that i have explained and ask not to do, then you asking to be fucked. Now, how...
I was wondering how long this would take?

You showed great patience this time Fti.
  • #34,591
  • Edited 11:20am Jul 2, 2012 10:53am | Edited 11:20am
thank you fti..
the markets are teaching me.

right i did my first dance a usd cad short

ready to do battle..comentary

theory is i should be able to make this trade eventually profitable no matter what happens in the near future...as long as i manage the trade properly ...i should come out pips in at the end of the day...
i may have to send in some rescue troops (orders at some stage) but by time i close this trade...should be profitable..
hopefully highly profitable..but market conditions not too hot today for big profits.

entry usd cad short @1.0170
stop loss...none

right trade is over...it was great...key was that i started with good MM, and i had to send in 2 rescue trades ..but ended up coming out 10 pips up.

this is how it went
after placing intitial order...the price moved against me quite dramatic when looking at the 5 minute chart. so when i thought time was ready for the move against me to retrace i put on another short trade at same amount as my initial trade...(see rescue 1)
Attached Image (click to enlarge)
Click to Enlarge Name: 1st_rescue_usd_cad.jpg Size: 83 KB

then price moved against me again close to a strong resistance level..so i went in for the kill....put 5 x initial amount on as a short....therefore only needed price to retrace about 5 pips to make all money back from deal. (see rescue2)
Attached Image (click to enlarge)
Click to Enlarge Name: 6_pips.jpg Size: 101 KB

price turned and i pulled out the 2nd rescue troop with decent yet small profit ..(see rescue complete)
now i had choice to either leave 2nd trade running ...and leave initial trade running also..because although it may look bad on pics ..the trade was running at a profit.

Attached Image (click to enlarge)
Click to Enlarge Name: rescue 2.jpg Size: 97 KB

as price moved a little more in my favour i pulled out both trades.

results of the trade are

initial scout 1 unit short @ 1.01708........pulled at 1.01856 = - 14.8 pips
rescue 1 1 unit short @ 1.01864 pulled at 1.01867 = 0 pips
rescue 2 5 units short @ 1.01940 pulled at 1.01890 = 5 pips x 5 = + 25 pips

total results of trade = + 10 pips

that was fantastic...i now know there is no such thing as a losing trade as long as you choose your rescue carefully.
in hindsight i should have waited and not used rescue 1 until i had analysed where price was gonna turn.
rescue 2 was beautiful...in and out...commando style...short and brutal.

KEY LESSON....dont use a stop loss as it will stop you out and you probably wont have any will to reenter...when if you didnt use it you will eventually become skillful in the art of managing a trade...and come out +++ pips even when the tide moves against you.

KEY LESSON 2. ...make sure your MM is correct otherwise you will not be in a position to rescue badly timed trades or worse still wrong trades.
  • #34,592
  • Jul 2, 2012 11:23am Jul 2, 2012 11:23am
Quoting tubguy
I was wondering how long this would take?

You showed great patience this time Fti.
Oh man that was great patience? I didn't even know he knew the "f word"... hahha

Too scared to post in here

fti is still my hero

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Time hides Nothing
  • #34,593
  • Jul 2, 2012 11:28am Jul 2, 2012 11:28am
Quoting eblip
thank you fti..
the markets are teaching me.

right i did my first dance a usd cad short

ready to do battle..comentary

theory is i should be able to make this trade eventually profitable no matter what happens in the near future...as long as i manage the trade properly ...i should come out pips in at the end of the day...
i may have to send in some rescue troops (orders at some stage) but by time i close this trade...should be profitable..
hopefully highly profitable..but market conditions not too hot today for big profits.

entry...

Thanks for the post - one thing that still isn't clear for me - do we rescue the scout and re-insert at new level, or allow it to carry?


I see you chose to leave your two out there, and it worked out for you....but I don't seem to recall this was the intended method from reading the 1st 300 ppgs of this thread, but I may be mistaken....
  • #34,594
  • Edited 11:48am Jul 2, 2012 11:32am | Edited 11:48am
Quoting almo
Thanks for the post - one thing that still isn't clear for me - do we rescue the scout and re-insert at new level, or allow it to carry?


I see you chose to leave your two out there, and it worked out for you....but I don't seem to recall this was the intended method from reading the 1st 300 ppgs of this thread, but I may be mistaken....
im no expert as i only read the first 200 pages of the thread. over past couple of days...but i think that is for you to decide.

if you feel the market is going to keep moving your way...then why take your scout out.
if you feel the market is strongly going to keep moving your way..then leave in the scout and a small troop.

if you are unsure...like i was ..then pull everything out at a profit...regardless of size...or maybe even pull out at break even.

even though my 2 orders were still out there after the rescue...one of them was below the current market price..the other was on the current market price...

at first look it would appear that i am down on the trade...but if you watch your money...you will see that you are up and then make a decision depending on how comfortable you are with the market conditions...
i was not uncomfortable...i just felt that it was going to start to get choppy and chances of a big profit were over....so i pulled everything out..

note you also said do we reinsert the scout at the new level..
the fact is it doesent matter.....as i was up 10 pips ..lets say i removed the scout and left in the trooper that was close to the action and the market moved against me 20 pips...i would be 10 pips down.

lets say i decided to leave the scout and remove the 1 st rescue trooper.....and the market moved against me 20 pips ...i am still only 10 pips down..the question is irelevant..

the question is ...what size of trade do you want to leave on....after the rescue..not which one should you leave on.
if you close out your position and reinsert a new scout...you lose out on the spread paid to your broker for opening a position.

maybe if you decide to leave a scout on...then it would be better to leave the one on nearest to the price action....as psychologically when you look at the screen you will be more able to monitor your position with regard to pips...whereas if you left the scout on....the distance between the scout and the price action may have a negative bearing on your mind...if you are that way inclined....it may induce fear as your scout is on the wrong side of the price action ..visually you may perceive it as bad and begin to feel fear or negativity.

i am only interested in the money...so i dont think it would have any affect which one i left...but you will know in yourself.

that is how i see it .
hope this helps.
  • #34,595
  • Jul 2, 2012 11:43am Jul 2, 2012 11:43am
Quoting eblip
im no expert as i only read the first 200 pages of the thread. over past couple of days...but i think that is for you to decide.

if you feel the market is going to keep moving your way...then why take your scout out.
if you feel the market is strongly going to keep moving your way..then leave in the scout and a small troop.

if you are unsure...like i was ..then pull everything out at a profit...regardless of size...or maybe even pull out at break even.
even though my 2 orders were out there after the rescue...one of them was below the current...

Yes , it definitely helps......Thanks!
  • #34,596
  • Jul 2, 2012 11:59am Jul 2, 2012 11:59am
Quoting fti
TO WHOM IT MAY CONCERN.

Look, for the very last time.
There are lots stupid peeps live in this world.
Your English is just fine. Sometimes I wonder why you started to post those unable-to-understand language.
  • #34,597
  • Jul 2, 2012 12:20pm Jul 2, 2012 12:20pm
Quoting CindyXXXX
Oh man that was great patience? I didn't even know he knew the "f word"... hahha

Too scared to post in here

fti is still my hero

http://www.youtube.com/watch?v=jMscc9ao04s

Haha. I gotta tease Fti about his patience because I have much less myself.

No need to be scared to post though. Cautious maybe? LOL
  • #34,598
  • Jul 2, 2012 12:38pm Jul 2, 2012 12:38pm
http://soundcloud.com/goran-djukic/goran-djukic-id
I am learning in evenings music production, so one song I produced 2 days ago.
It's still beginer level
  • #34,599
  • Jul 2, 2012 1:07pm Jul 2, 2012 1:07pm
Quoting fti
situation recap.
usd situation: the over printing feeding the over spending had made situation feeding on savings. So in devaluation state.

euro: they open the vaults big time, placed some guarding wide open vault.

anything should be better than both this. But timing timing timing.

4th July first.

http://www.youtube.com/watch?v=B-DLhuNbj8I
Beautiful sample Human Nature
  • #34,600
  • Jul 2, 2012 1:08pm Jul 2, 2012 1:08pm
everything has now changed for me in forex.

3 days ago a good trader to me was someone who could pick the good trades.

now a good trader is someone who can manage the bad trades.

regards.
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