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Technical Analysis Fallacy

  • #40,881
  • Jun 4, 2013 10:50am Jun 4, 2013 10:50am
Inserted Video



http://www.bartleby.com/108/40/13.html
  • #40,882
  • Jun 4, 2013 11:12am Jun 4, 2013 11:12am
Quoting ukmanthailan
{quote} Cheers - I have the EUR/GBP, GBP/JPY and GBP/CHF in my market watch window and I do look at EUR/GBP to see what it's doing but I try to get a feel for the relationship by watching / comparing the two against the dollar. Edit: I'm well out of sync today. Lucky to get out with a miniscule profit.
Me too. Hard day, GBP/USD was horrible to follow. EUR/USD was a little better but not much.!!
  • #40,883
  • Jun 4, 2013 11:51am Jun 4, 2013 11:51am
http://southerncreations.com/comesthedawn.html
  • #40,884
  • Jun 4, 2013 6:47pm Jun 4, 2013 6:47pm
Quoting piccolo
{quote} It is very addictive. Like gambling.. have you ever studied in a casino?
Haha just cant help it, got a perfectly good reason though, studying a course closely related to the markets

I noticed many here mainly trade E/U G/U, any fans of U/J? love dancing with her and she is the only one i danced with.

Seems like market is gonna be in a tight range until NFP figures
  • #40,885
  • Jun 4, 2013 8:01pm Jun 4, 2013 8:01pm
Quoting WootWoot
{quote} Haha just cant help it, got a perfectly good reason though, studying a course closely related to the markets I noticed many here mainly trade E/U G/U, any fans of U/J? love dancing with her and she is the only one i danced with. Seems like market is gonna be in a tight range until NFP figures

If you are studying a COURSE you may be on the wrong path?
  • #40,886
  • Jun 4, 2013 8:43pm Jun 4, 2013 8:43pm
Quoting tubguy
{quote} If you are studying a COURSE you may be on the wrong path?
Just doing my undergrad degree in Economics
  • #40,887
  • Edited 10:12pm Jun 4, 2013 9:51pm | Edited 10:12pm
Quoting WootWoot
{quote} Just doing my undergrad degree in Economics

Ah! sorry. I misunderstood your study.

I wish you well with that. Hope it serves you later in life.

Btw. I love U/J at asia open most times.
  • #40,888
  • Edited 3:59am Jun 5, 2013 12:37am | Edited 3:59am
I just thought I'd mention that I never bothered buying MT4 floating charts after a short trial - I think I posted about the software a couple of weeks ago on here and I didn't want anybody to think I was recommending it (or not recommending it). They do give you more room on screen but when you are using several monitors it gets a bit tedious to set them all up every time you open MT4. I tried a desktop organiser program but it didn't seem to remember exactly where the charts were so that didn't work very well. I find it easier just to run 3 different MT4s.

Edit: I've noticed my mindset changing when I'm trading. I go from objectively watching candles and following the flow to hoping it continues to go in my direction. I have to keep pulling myself back and making a big effort to think objectively again. Maybe I'm not mature enough to trade. At my age there isn't really any hope of improvement though!
  • #40,889
  • Jun 5, 2013 3:57am Jun 5, 2013 3:57am
Just placed my first live trade! -- well first trade with this mindset/method anyway.

...opened long on USD/JPY... but then I realized I stupidly forgot to check news calendar. Saw a bunch of news coming out soon for USD. Whoops close position for a profit of $1.5

Way too much big news coming out for the rest of the night so don't want to temp fate right now.

I'm at page 110 in this thread so far. Is there any massive revelations that get revealed later on and I should not live trade until I reach that point in the thread?
  • #40,890
  • Jun 5, 2013 8:10am Jun 5, 2013 8:10am
Quoting nomadic123
Just placed my first live trade! -- well first trade with this mindset/method anyway. ...opened long on USD/JPY... but then I realized I stupidly forgot to check news calendar. Saw a bunch of news coming out soon for USD. Whoops close position for a profit of $1.5 Way too much big news coming out for the rest of the night so don't want to temp fate right now. I'm at page 110 in this thread so far. Is there any massive revelations that get revealed later on and I should not live trade until I reach that point in the thread?

Read till page 200 and see how u feel after that...then start very low and slow...and keep on reading the thread u will reach there

V
  • #40,891
  • Jun 5, 2013 11:55am Jun 5, 2013 11:55am
Quoting fti
our red flag exercise? http://www.youtube.com/watch?v=rxqTMVkfJkA http://www.youtube.com/watch?v=p9vaibmyDHA http://www.youtube.com/watch?v=OgxHFFAv0ug http://www.youtube.com/watch?v=akgTmskfQys http://www.youtube.com/watch?v=cfeGPyQKaL0 Be the best you can be. regards {image}
  • #40,892
  • Jun 5, 2013 6:04pm Jun 5, 2013 6:04pm
Quoting ukmanthailan
Are we looking at the same charts? I just wondered, if anybody cares to share, what charts you are all looking at when trading. I look at the 5 minute charts for GBP/USD, USD/JPY, EUR/USD and USD/CHF on my main screen. Then I have the 15M, 1H, 4H and Daily GBP/USD charts on another monitor, which I glance at from time to time to keep an eye on the bigger picture. I did have Brent Crude, Gold, FTSE-100, SP-500, AUD/USD and USD/CAD on a third monitor for a week or two but I found that it was a bit too much so I don't have them open any more. Instead...
chart where I think the action is and what I'm trading; right now usd/jpy and... whatever I'm trading. Only one screen, not looking too often(working mostly with that screen closed, sound alerts on - except the common sense moments when I'm watchin' the action live - Tokio at 4am GMT, London 40-50 mins. before NY open if probable stop hunt, NY open, London close, announcements, etc.).

really, most of the time, if you're right, from your block it'll reach the next one some unknown time. No point in fretting too much.

And there are always trades(can't believe how many years it took me to have this sink in - guess I'm not as smart as I thought).
  • #40,893
  • Jun 6, 2013 7:42am Jun 6, 2013 7:42am
crazy vola on unemployment clalims.
only aud was not interested. chocolates seem good to go long.

regards

how have my friends been doing?
  • #40,894
  • Jun 6, 2013 7:46am Jun 6, 2013 7:46am
I thought it was a pretty quiet response. Not much movement, but then the figure wasn't much of a surprise.
  • #40,895
  • Jun 6, 2013 7:48am Jun 6, 2013 7:48am
Quoting ukmanthailan
I thought it was a pretty quiet response. Not much movement, but then the figure wasn't much of a surprise.


http://www.ecb.int/press/tvservices/...130606.en.html
  • #40,896
  • Jun 6, 2013 7:49am Jun 6, 2013 7:49am
Quoting ukmanthailan
I thought it was a pretty quiet response. Not much movement, but then the figure wasn't much of a surprise.
news is just an excuse. let them belly up. i ll see how much pain can euro bear.

regards
  • #40,897
  • Jun 6, 2013 7:49am Jun 6, 2013 7:49am
Quoting Acs_112
{quote} http://www.ecb.int/press/tvservices/...130606.en.html
Yes, I know - cheers
  • #40,898
  • Jun 6, 2013 7:56am Jun 6, 2013 7:56am
USD seems to be getting stronger across the board. I wonder if this is EUR strength is helping to prop it up for the moment.??

Just thinking allowed.
  • #40,899
  • Jun 6, 2013 8:30am Jun 6, 2013 8:30am
Quoting cuthbert
{quote} news is just an excuse. let them belly up. i ll see how much pain can euro bear. regards

I guess u r short Euro??

V
  • #40,900
  • Jun 6, 2013 8:33am Jun 6, 2013 8:33am
Life firing erercise.
This is no drill.

just want highlight.
the euro and cable, is over manipulated.
Just take a look at aud crosses.

Now if any one chasing we very near ceilings.
Is holding ceiling because market maker manipulating screwing the long usd podition.
Please be careful here.
Short usd is in dangerous territory.
Manipulate more.
Once they bleed the heavy equiptment will be moving in.
So i suggest either be long usd or squared.
soon the evil manipulative mechanism will be tested.
Be ready, but watch your size and your own backsides.

Lets see if the NFP will provide the backdrop for this happen.


regards
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