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Technical Analysis Fallacy

  • #40,541
  • May 9, 2013 9:31am May 9, 2013 9:31am
You have a long journey ahead of you Inguy. Trading skills is like trying to measure the iceberg.
The road to pipland is arduous and fraught with challenge.
  • #40,542
  • May 9, 2013 9:35am May 9, 2013 9:35am
Quoting traider
You have a long journey ahead of you Inguy. Trading skills is like trying to measure the iceberg.
That i do...learning is fun

V
  • #40,543
  • May 9, 2013 9:39am May 9, 2013 9:39am
Quoting indianguyinny24
{quote} That i do...learning is fun V
That is good. Also develop the skills of contemplating the basics and then stretching them out. The levels that matter in the driver candles are 0, 50 and 75.
The road to pipland is arduous and fraught with challenge.
  • #40,544
  • May 9, 2013 9:45am May 9, 2013 9:45am
Quoting traider
{quote} That is good. Also develop the skills of contemplating the basics and then stretching them out. The levels that matter in the driver candles are 0, 50 and 75.

Will do....

V
  • #40,545
  • May 9, 2013 9:49am May 9, 2013 9:49am
Quoting fti
{quote} I don't know my friend. In a place where you not know who is who. anyone can tell , peeps who works with the largest funds managers in the world that they got long way to go. You want show your credentials? regards
i dont have much of credentials...just learning here...


V
  • #40,546
  • May 9, 2013 9:58am May 9, 2013 9:58am
Quoting fti
{quote} I don't know my friend. i am now thinking if i should ask ff erase my thread. i not want help unknowing peeps gets scamed. althought these skills can be used in real markets.
Oh I agree that the market is manipulated. However, unlike you, I don't think it is possible to regulate a global beast that is simultaneously striving to be deregulated.

I told a chappie on this forum that German austerity will give way to European printing and look at what is occurring betwen France and Germany. Capitalism will not allow itself to be starved nor will it allow itself to be contained. That is not to say that there aren't ethical players like you. However taken as a global cultural economy, the manipulation will be a recurrent problem until it becomes widespread and infects every economy.
The road to pipland is arduous and fraught with challenge.
  • #40,547
  • May 9, 2013 10:11am May 9, 2013 10:11am
Quoting fti
{quote} I don't know my friend. i am now thinking if i should ask ff erase my thread. i not want help unknowing peeps gets scamed. althought these skills can be used in real markets. even jac not want come around anymore. why get involved in a scam , looks bad on the bank. although is noble try help small peeps learn how trade proper. Doesn't feel right, when sending them into the jaws of white collar criminals. is no way these tickets sizes ever get to the banks. They get slaughtered by the syndicates and middle men behind this. what do you think?...
Chief,

Do you have any idea what all you have taught people....may be this Fx is a scam ...may be it is totally manipulated...my experience is none in front of you but there are still ways to skin a cat...earlier wih your training it was easy now it is still easy till you are agile....earlier u thought i was 50 pip range now make it 100-200 but there are limits they can manipulate....my humble opinion,....

there are much deeper lessons in this thread then fx...apart i think many can attest that book is positive so that all it matter as you said...


V

PS: learning fx is much better then watching tv and cursing the system....
  • #40,548
  • May 9, 2013 10:18am May 9, 2013 10:18am
Quoting fti
{quote} So you agree that syndicates can scam unknowing retirees out of their savings, by computer simulation, and the poor household that may trade to improve their spending , only to be taken by international cons?
You misunderstand me FTI. I do not approve of the manipulation. But when you have a cultural economy that basis itself on greed as a virtue and strives to be free of all regulation and taxes, these things are natural outcomes. Its like, you know, if you take drugs, you get ill. So no matter how hard we try to make capitalism ethical, the power brokers will always create the conditions that allow these behaviours to floourish.

For example people like Ron Paul who portray themselves as nationalist libertarians will crteate the very conditions that will give rise to globalisation...and of course, abuse of the market.

In many ways, the nation state is doomed as capitalism and infinite growth demands globalisation. Like you, I am sad to see these things...but no matter how hard we try, we will fail. In fact as competitors proliferate and the pot grows smaller, these tendencies will worsen. I personally would not trust anyone any longer. We are truly becoming a society based on individualism.
The road to pipland is arduous and fraught with challenge.
  • #40,549
  • May 9, 2013 10:22am May 9, 2013 10:22am
Quoting fti
{quote} So you agree that syndicates can scam unknowing retirees out of their savings, by computer simulation, and the poor household that may trade to improve their spending , only to be taken by international cons? is not we rob you.you decided to give us your money and we do whatever we please make it ours. I saw this clear. i purposely put a stop on the position with 2 pips profit margin. and they came took the stop, annd did you see what market did after taking the stop. come on everything else was dropping? they actually pause motionless came...

BTW, what did you lose on FTI? Let me check that chart.
The road to pipland is arduous and fraught with challenge.
  • #40,550
  • May 9, 2013 10:36am May 9, 2013 10:36am
Quoting fti
they using capital on your books. they trade against positions until you square out then they move. this market lost all structure and free markets eticate, all books manipulation only. where is the interbank this playing to puppet masters alredy. did any one hear CB intervention any more. ONLY BOJ. others are not CB? The new forex scam.
So, is it true that market makers will always take out stops after consolidation right before big move? Or do they just make sure they have more personal capital in the move than everyone else to net a profit?
Too close for pips, switching to points.
  • #40,551
  • May 9, 2013 10:48am May 9, 2013 10:48am
Quoting fti
{quote} I made 2 pips, but i hate being scammed.
Yeah. It's nasty. Anyways, I'm off to my bed. Incidentally, your thread is very informative so it would be a shame to see you close it down.
The road to pipland is arduous and fraught with challenge.
  • #40,552
  • May 9, 2013 11:56am May 9, 2013 11:56am
Fti.... Thankyou

Inserted Video


...yes, you did.

Words aren't enough.

Li
  • #40,553
  • May 9, 2013 12:04pm May 9, 2013 12:04pm
Quoting indianguyinny24
{quote} a lot ot learn a lot to learn.... V

My sincere apologies V...your right ..I look forward to it.

This isnt me either, but if you like Pink Floyd (& who doesnt)...she is Hot!

Attached Image
  • #40,554
  • May 9, 2013 1:39pm May 9, 2013 1:39pm
Quoting fti
The international FOREX Association must investigate this percularity. Bucket shops?
nothing new under the sun.regards
Allah has permitted trade and has forbidden interest [koran]
  • #40,555
  • Edited 5:40pm May 9, 2013 5:17pm | Edited 5:40pm
Hello my friends,
sorry for all the fiasco today.
I had done much soul search and thoughts.

Certain facts are very clear to me now.
1. I just realised that Old Ego today became very big.
Who am I these day, but and old gun trying to keep pace with changed times.
Have the good fortune to have many trader friends, learning old stuff from me. And giving me much respect.
Markets not recognise me any more neither does system and i just waiting my time expire.
Such Big Ego thinking i can bring honour and fairness into a new industry i hardly know.
Who's birth i not witness to neither participated in.

2. This not interbank spot currency dealings as it used to be. So what say i have to how they should conduct their business.
However scummish they may be, I have choice either use it or walk way. No one is forcing me trade the scummishness. If the authorities allow, then who am i to question it's legitimacy.

3. Anger. Anger at the dishonourable pricing or mode whereby the business is conducted. This a scorpion.

So in a nut shell is very evident, that this trading is not for me anymore, esp in my state of health, as i had witness it capabilities throw me off my horse. Moreover i had been trying get back on the saddle for nearly a month, but seems is unfruitful.

After receiving some PM's from some of you and even the new comers, i decided, just let this thread to friends here as a reference for study. May be some may be able bring it to new heights. It has been a toll of responsibilty i felt for the markets, that i had spent some years on.

But for me i decided, Is time retire gracefully, find another life. Mostly because the behaviour of the business model that has mutated, which i see is not palattable for me, make for me dishounourble be inassociation with. I decided i shall want have no part of it from hereon.

I wish all well, and that you have to decide if this endevour is of any meaning for your life.
I also am aware that whatever you may learn from this thread may be useful for you , be used in other well regulated and organised markets.
I fervently wish that if you picked up good trade lessons, that you may bring the skills it to more trustworthy market environments.
But again I say is your choices.

My conclusion of my experiences TRADING IN retail FOREX is that it is not for prudent investors and should not be part of any one's serious investments portfolios.

Thank You for being my friend.

Best regards.
  • #40,556
  • May 9, 2013 7:16pm May 9, 2013 7:16pm
Quoting jasonckb
{quote} Would they play it delay to trap more long? {image}
It's a shame that FTI is quitting as the few times I have been here, it was good reading his posts.

Having said that, I trade the 15tf and saw a nice regular drop from 1.3174. The news simply confirmed the markets bias.

I would worry less about manipulation and more on technical accuracy. There have always been rogues since the dawn of time (if there is this massive manipulation that FTI alleges), there will always be rogues.

Anyways, good luck people.
The road to pipland is arduous and fraught with challenge.
  • #40,557
  • May 9, 2013 8:55pm May 9, 2013 8:55pm
Quoting frz
{quote} hi Traider.. Fti is not quitting because you have been here. and it's not a shame. he always do what he want. his health force him to do so. he was disengage with market for long time enough due his health and come back recently to feel the market. altough Fti was decide to quit from fx retail, but i hope he still want to give us his insight through this forum, if he has spare time. Regards
No probs FRZ. I did not take his departure personally. I seldom do in this game. I tell people what I see. How they receive that information is up to them.

Having said that, FTI is a wealth of information having been at the coalface of the trading culture so to that extent, I will have to do his thread more justice and read it in depth, some day, when I have the time. And to that extent, I think it is a shame we shant have anymore access to any further jewels he may have to drop.
The road to pipland is arduous and fraught with challenge.
  • #40,558
  • Edited 10:49pm May 9, 2013 10:16pm | Edited 10:49pm
OK , no need email me about that the retail FX markets have malpractising.

this is my last explaintion. I not want discuss this further.
I state the points you go find out about this yourselfs if you cannot understand.

Point 1. STOPS.
---------------
I not want re explain what they are. They are stop loss orders, market once traded.

Traditionally in spot interbank , all stops are watched by dealers who are market makers. Once determined market traded that price . The dealers honour the customers for fills at the stop price. Understand?

Ok , if such dealers are non market making they have no business accepting the stop orders.

Now consider the retail FX markets.
Brokers are watching these stops. But there can be instances that market illiquid. Therefore they unable fill until best price is determined.

Ok consider that the broking is market making. If the stops triggers , the market making broker can make next price anywhere and fill your stops.

Ok , the conflict of interest of broking and market making. can understand?


Point 2. Leverage.
Basically levereage trading just means that someone funding the trade for you taking a margin amount from you as good faith for your positions.

The practise of margin tarding was spear headed in futures markets. Where by the rules of practise is that you pay a certain margin , to trade a certain contract size of a derivative.
The practise is that if you arrive at margin call point, required to hold the position, then you are requested to TOP UP the margin up to the required margin requirement within 24 hours, failing which the brokers will square out your positions.

If there is balance money is left in your account , or if there is an overloss customer is required to pay the broker the overloss or be sued for the money.

Consider the margining system by retail fx. any time you reach the margin call point you are liquided.


Now the difference between leverage in futures is that it is a system of funding position on good faith margin to be replenished at margin call point, That means the trade is funded.and is obligation of customer to up keep good faith to replenish shortfalls.

In the retail fx, they are funding gambling. there is no time allowance for topping up margins,once hit margin call point , position is liquidated.
I say again they are funding gambling.
Is similar to bank loan you money to finance your whatever. Any reasons they can come up with they foreclose you without providing recourse.

So in fx retail the practise of the the leverage is to try trap accounts overtrade and ther moneys is gone.
any time positions overtraded and there high volatility the accounts are blown.
Just audit all retain FX accounts, is very clear how most accounts are lost, because of overtrading,
and the cause of the killing is by the margin rules imposed.

Am I wrong say they funding gambling? They enticing people trade sizes that the people cannot afford to trade.

Ok i don't want say any more.
If The authorities want allow this practises, i have nothing to say, is their jurisdiction.

regards

Inserted Video
  • #40,559
  • May 9, 2013 10:46pm May 9, 2013 10:46pm
Thanks for that FTI. I'll have to have a good read of it.

I trade very specific signals and run a number of platforms for confirmation of what I call the driver candle so this kinda mystifies me.
However i can see this occurring where traders are overtrading (in other words, trading at crap zones which in any event are often choppy in a random way).
The road to pipland is arduous and fraught with challenge.
  • #40,560
  • May 9, 2013 10:48pm May 9, 2013 10:48pm
I hate to disagree with you fti, but there is absolutely no way that retail forex brokers could operate a margin system of good faith. Can you imagine the losses they might be chasing from customers if they allowed 24 hours for everybody to make good on margin calls? I do see that the combination of high leverage and instant liquidiation provides an easy way for them to take out unwary retail traders but if they were to follow the margin practices of brokers on regulated exchanges, I fear that many of us would not be granted an account in the first place and I think that it would be too time consuming for retail FX brokers to conduct the kind of in-depth credit checking that would be required, given the volume of small value customers they attract.

If you mean that they should restrict accounts to people who can fund them properly and follow the same rules as commodity brokers, then yes, you are right that retail forex appears highly disreputable when compared to other markets. It seems to be based on a high turnover of customers - churn 'em and burn 'em!

Anyway, I hope you will forgive me for having a slightly different opinion, I have an enormous amount of respect for you and always will. I do not take a contrary point of view lightly or in order to provoke a reaction - these are my honest thoughts.

Best of luck
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