"Technical Analysis Fallacy" thread people, I need your help | Forex Factory

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"Technical Analysis Fallacy" thread people, I need your help

  • #1
  • First Post: May 19, 2013 7:05am May 19, 2013 7:05am
Hey guys,

I was recently reading through a thread and this post grabbed my interest: http://www.forexfactory.com/showthre...13#post6282513

It talks about a money management system explained in the "Technical Analysis Fallacy" thread. I'm interested in learning more.

Now you can call me lazy if you want but I don't feel like reading through a few hundred/thousand posts to find out more. Does anyone know more about this money management system? If you know of some good posts or resources that explain it in full could you please provide me with some links.
  • #2
  • May 19, 2013 10:39pm May 19, 2013 10:39pm
Anyone?
  • #3
  • Edited May 20, 2013 5:43am May 19, 2013 11:02pm | Edited May 20, 2013 5:43am
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  • #4
  • May 19, 2013 11:17pm May 19, 2013 11:17pm
ok thanks for the summary.

Might just have to bite the bullet and start reading the thread.

Do you personally use this MM? Have you found it helpful?
  • #5
  • Edited 5:43am May 20, 2013 5:02am | Edited 5:43am
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  • #6
  • May 20, 2013 6:12am May 20, 2013 6:12am
not sure what happened ukmanthailan, but your posts have disappeared.
  • #7
  • May 20, 2013 6:24am May 20, 2013 6:24am
nomadic, The truth is that there is no short cut, no magic formula that is going to make you a successful trader over night.

The TAF thread has a huge amount of invaluable material that if you decide to dedicate time and commit too can indeed teach you the necessary skills to survive in this market. But if you are not serious about trading and willing to put the effort and time to learn then it is a pointless endeavour.

There is no course available today that people can pay £1000s for that could offer even a fraction of the value Fti has given in that thread.

So the wonderful thing is that if you are serious about trading then all you must do is study that thread, practice trading while trying to apply what you learn and keep revisiting the material in the thread as you develop and improve and you will begin on a journey.

90% of the battle is done, you know where to found the valuable material, and not waste your time. You can start to make progress.

If you are looking to get rich quick in forex then you are approaching it as a gambler, same as a casino. So expect the same outcomes.
  • #8
  • May 20, 2013 6:50am May 20, 2013 6:50am
Quoting nomadic123
not sure what happened ukmanthailan, but your posts have disappeared.
Yeah, sorry, I deleted them. I thought about it and as fti was kind enough to start the thread and share his knoweldge with us, it is freely available for anyone to read. I'm not qualified to summarise his teachings and he might not appreciate me doing so. I would hate to do something that upset him after all that he has given.

I hope you don't think I am being deliberately unhelpful, I just don't want to do the wrong thing. You can always post in the TAF thread if you have any questions and somebody will hopefully point you in the right direction.
Cheers
  • #9
  • May 20, 2013 6:54am May 20, 2013 6:54am
No problem, understandable. Guess I've got some reading to do then
  • #10
  • May 20, 2013 7:31am May 20, 2013 7:31am
Quoting nomadic123
I'm interested in learning more.
Just be aware, then, that many posters in that thread (as elsewhere) make the classic mistake of using the terms "technical analysis" and "indicators" as if they're exactly the same thing. (They're not at all, of course: many aspects of technical analysis have absolutely nothing to do with indicators). "Just saying!"
  • #11
  • May 20, 2013 7:42am May 20, 2013 7:42am
Quoting nomadic123
Hey guys, I was recently reading through a thread and this post grabbed my interest: http://www.forexfactory.com/showthre...13#post6282513 It talks about a money management system explained in the "Technical Analysis Fallacy" thread. I'm interested in learning more. Now you can call me lazy if you want but I don't feel like reading through a few hundred/thousand posts to find out more. Does anyone know more about this money management system? If you know of some good posts or resources that explain it in full could you please...
Why don't you send a PM to the author of that post, "Cougar17". He might respond and explain exactly what he was referring to. I'm not sure either, and have not read the TAF thread in it entirety, however his explanation is similar to something I do. I try to commit only a small portion of my intended position to an entry, especially if it is an anticipated reversal.

As an example: If I calculate based on my stop placement, that my position size is to be 4 mini lots. Then I will commit only two mini lots to begin with. If I'm wrong, I have lost only 1/2 of my position size. However if the trade starts to work in my favor (or I think it is working in my favor) I will add in the other 2 mini lots.

I then calculate the weighted average of these two positions (which my broker does anyway), and use that number as my "full" entry position. Some folks call this "scaling in".

I think what the TAF post is talking about is dividing my 4 mini lot position into fibonacci numbers and add them in as the position moves in my favor...example: enter with 1 mini, then add 1 mini, then add 2 minis, then add 3 minis, then add 5 mini...etc. It keeps going until your calculated position size is used up. For my above example of 4 mini lots, I would only go to 1+1+2 = 4.

That is how I read the post...but it is better to get the story straight from the author. Why don't you just ask him.
  • #12
  • May 20, 2013 9:39am May 20, 2013 9:39am
Quoting nomadic123
Hey guys, I was recently reading through a thread and this post grabbed my interest: http://www.forexfactory.com/showthre...13#post6282513 It talks about a money management system explained in the "Technical Analysis Fallacy" thread. I'm interested in learning more. Now you can call me lazy if you want but I don't feel like reading through a few hundred/thousand posts to find out more. Does anyone know more about this money management system? If you know of some good posts or resources that explain it in full could you please...
Nomadic

There is absolutely no evidence that what FTI is teaching there is profitable. Do yourself a favor and ask them straight forward questions about the method and see for yourself what kind of response you will get. None of them including Fti is willing to even put a demo trade explorer up so that people can judge if it is so special or not.
I got banned for telling him that he is fooling his followers. I do not understand why traders can be so naive as to belief al the crap which is being posted in that thread. I only saw one trade explorer there and it got wiped several times.
Fti is your typical so called guru and manages to attract hordes of followers. The thread is basically dead now. He pretends to be good, but has unfortunately failed to provide any evidence of success. He is only good in posting you tube videos. It the method was so profitable don't you think there would be more traders hanging out there? Simple isn't it.
You ONLY EVER listen or take advice from someone here if there is solid proof of success.
The factory has valuable info, but you have to be careful in selecting it. The biggest FX wanabes are hanging out here. Be aware. Cleverly worded posts and fancy charts means NOTHING without a profitable statement to accompany it.
Study your charts and find your edge..... Hard work pays off ...all the time!

Cobra
Never Ever Give Up!
  • #13
  • May 20, 2013 10:29am May 20, 2013 10:29am
Quoting Cobra
{quote} Nomadic There is absolutely no evidence that what FTI is teaching there is profitable. Do yourself a favor and ask them straight forward questions about the method and see for yourself what kind of response you will get. None of them including Fti is willing to even put a demo trade explorer up so that people can judge if it is so special or not. I got banned for telling him that he is fooling his followers. I do not understand why traders can be so naive as to belief al the crap which is being posted in that thread. I only saw one trade...
I dont mind showing my account. I still have much to learn but i practice every day, and continue to improve and develop. I am constantly improving as the market teaches me. I can not stress highly enough the value in Fti's thread, I dont know where the source of your negativity towards it comes from, but i would suspect that you tried and failed. You failed because you gave up, and so you want to believe that its all rubbish. "Whether you think you can, or you think you can't--you're right" - Henry ford


I think it only takes any educated person a couple of minutes in that thread to realise Fti has valuable information to share from his experiences. We do not need to see his trade explorer to determine if he is profitable. Anyone can make there own judgement from the material he presents if it useful to them. I would strongly suggest that it is and any rational person would see the value.

http://www.myfxbook.com/members/coas...account/353320
  • #14
  • May 20, 2013 10:30am May 20, 2013 10:30am
Quoting Cobra
{quote} Nomadic There is absolutely no evidence that what FTI is teaching there is profitable. Do yourself a favor and ask them straight forward questions about the method and see for yourself what kind of response you will get. None of them including Fti is willing to even put a demo trade explorer up so that people can judge if it is so special or not. I got banned for telling him that he is fooling his followers. I do not understand why traders can be so naive as to belief al the crap which is being posted in that thread. I only saw one trade...
Being as the guy who started the thread is not asking for any money, or indeed anything, from people that participate in it, why on earth should he feel the need to prove to you or anybody else that what he has been teaching works? We are all free to read what we like on here and take from the threads what we want. The fact that you cannot employ an approach that requires quite a lot of hard work doesn't mean that others can't. Do you really think that those of us who have been on the thread for 4 years + would still be there if we'd been losing money the whole time?

There's no need to defend what's written on the thread though. Anybody with a modicum of common sense could tell that fti is genuine from reading through his early posts. My advice to you Nomadic, would be to read the first 20, 30 , 40 or 50 pages...whatever you want......and decide for yourself. If you don't want to, that's fine too. It won't affect my life.
  • #15
  • May 20, 2013 11:06am May 20, 2013 11:06am
I tried to understand FTIs methods but couldn't. the amount of discretion makes it near impossible to emulate.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #16
  • May 20, 2013 11:13am May 20, 2013 11:13am
Quoting Cobra
{quote} Nomadic There is absolutely no evidence that what FTI is teaching there is profitable. Do yourself a favor and ask them straight forward questions about the method and see for yourself what kind of response you will get. None of them including Fti is willing to even put a demo trade explorer up so that people can judge if it is so special or not. I got banned for telling him that he is fooling his followers. I do not understand why traders can be so naive as to belief al the crap which is being posted in that thread. I only saw one rade...
hi Cobra.
we meet again.

why you don't mention my name?
yes, it's me. my demo account got wiped several times.
and why you didn't tell that i'm a beginner trader?

by the way, how is your demo account?
where is your promise to outperform me?
steady as she goes
  • #17
  • May 20, 2013 11:21am May 20, 2013 11:21am
TAF offers you insights in the forex market through the mind of a ex market maker/dealer of a top tier bank. That itself is enough reason for me to be a fan...
  • #18
  • May 20, 2013 8:38pm May 20, 2013 8:38pm
Thanks everyone for your input.

I was up until 2am last night reading through the thread. And a lot more reading to be done.

I'm not actually a 'lazy' person as my first post implies, just didn't want to spend hours sifting through thousands of posts to find a MM technique. Time better spent elsewhere. But I now see the thread has many other positive points worth reading about too.

I appreciate everyones input, negative and positive. I'm keeping an open mind and healthy skepticism while I read.
  • #19
  • May 21, 2013 1:26am May 21, 2013 1:26am
Quoting frz
{quote} hi Cobra. we meet again. why you don't mention my name? yes, it's me. my demo account got wiped several times. and why you didn't tell that i'm a beginner trader? by the way, how is your demo account? where is your promise to outperform me?
FrzI am outperforming you stupid!Do you find it difficult to read. My trade explorer is up for everyone to see.The fact is that Fti's thread is worthless . Why don't you and the rest of his followers either admit it or give proof that it is a profitable method.Not you or anyone else in that thread is willing to explain in one short paragraph what it is all about. You cannot because there is no method. Frz you are a typical example of how the followers of Fti react when confronted with your method. You cannot defend the method but rather chose to attack anyone who has ligitimate questions. You will do yourself a favor by simply moving on and put in some hard work to understand this market . There is hardly anyone left there . Why? They have all discovered that there is nothing in that thread to make any meaningful progress in their trading careers.How many demo's do you want to wipe before you are going to try something else? Some people just find it hard to accept that fx is hard work. There is No short cuts buddy.Fallacy = a deceptive misleading, or false notion, belief etc.... ( Any woodbe trader kicking off his trading career thinking or beliefing that technical analysis is a fallacy is on the wrong road) You are only misleading yourself . Or let me put it more clear: Fti is misleading you and others.......Frz= ( almost the same as Fti) Come on Frz try to be yourself and not someone else. Try to to be your own leader and stop following others blindly. As long as you are lurking around in that thread you will keep on wiping your acc's........Cobra
Never Ever Give Up!
  • #20
  • May 21, 2013 2:52am May 21, 2013 2:52am
I think it is you that can't accept that trading currencies is hard work. You are looking for a method that can be summed up in one short paragraph? You're a fool. As for your trade explorer - it's been running for what, 34 days? I'm not a follower of fti's. It's not a religion, it's a discussion about trading. You sound very angry about something. Is it the fact that you don't have the balls to put your money where your mouth is so you have to trade a demo account? Or is it that you simply don't have any money with which to trade? Either way, I'd give the pointless diatribes a miss and concentrate on sorting your own life out.

Nobody is going to post "proof" that what fti teaches is profitable. What for? What could I or anybody else possibly have to gain from doing that? I'm not looking for your approval and neither is anybody else on that thread.

If you have any legitimate questions why not ask them? All you have asked for as far as I can see is a one-paragraph summary of a five-year thread.
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