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Technical Analysis Fallacy

  • #41,861
  • Aug 7, 2013 9:12am Aug 7, 2013 9:12am
Hi fti

I have had a few people lately 'pm'ing me about how I trade your way/MO ( as I am sure others have who have been around here for a while now), I tell them all that I have had no personal tuition from you or even exchanged any 'pm's with you, all I have learnt is from what I understand from your thread and my way of trading is just that, my way!, I do not know if it is the same as you or even if it is close (though I hope it is near and that I have actually learnt something). From reading about other peoples trades here I believe we all do it differently and we have to find our own way/style, all that matters is collecting pips as you say and there is more than one way to do that. I try to be honest with them as I do with everyone and state that there is no substitute for putting the hours and effort in, I also try to explain that they need to adjust themselves to the market and the need to trade your account accordingly without taking liberties with overexposure. Then I try to briefly explain how I look at the charts which is difficult to do and will be different from what others do here and how this can as it does for everyone lead me to take bad entries at times as ALL analyse does (there is no holy grail/magic bullet), which is why we/they must have a strategy to deal with this and expect to be in some manageable drawdown at times (again trading according to your account size is a must for self preservation).
I know it is not good for you to post charts while trading, it is hard at the best of times for anyone, may I suggest if it is ok with you that I encourage others to post/show how they make their trading decisions now and again when they feel like it, for the benefit everyone to see how we all trade differently and to show the fact that no one way is right or wrong, so long as you collect some pips constituently and do the best you can with what you have you are on the right track. I do not mind kicking things off with some trades I saved from this morning.
maybe you could comment when you feel it appropriate to do so if a few of us start posting about their trading (if they want to), I am hoping it may take the strain off you a bit trying to post your trades to help others and that we may learn more in the process from you and each other.

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #41,862
  • Edited 9:50am Aug 7, 2013 9:37am | Edited 9:50am
Quoting phil13
Hi fti I have had a few people lately 'pm'ing me about how I trade your way/MO ( as I am sure others have who have been around here for a while now), I tell them all that I have had no personal tuition from you or even exchanged any 'pm's with you, all I have learnt is from what I understand from your thread and my way of trading is just that, my way!, I do not know if it is the same as you or even if it is close (though I hope it is near and that I have actually learnt something). From reading about other peoples trades here I believe we all do...

Sure phil, no problems whatsoever.
is better than commenting friends holiday pics.

what michael was doing was fine, rehashing the basics behind the decision processes. My predominant concern is when peeps starts exploring crystal ball techniques. as we would all know that pandora box is full of worms. or when picasos starts displaying their works of ch-arts.


regards
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  • #41,863
  • Aug 7, 2013 10:07am Aug 7, 2013 10:07am
Hi fti

thank you. I try not to predict and my charts as can see will win no art awards for sure, but what I need to know is there in plain view.

Here is my eur/usd trading from this morning/last night. May I suggest that most of these are posted after the trade/first part most of the time so as not to lead others into a bias or copy trades which only hinders the learning process I believe. I will cover the trade amounts on my charts they have no relevance to anyone but me (we all trade different account sizes) all I will say is the trades are in line with MY own personal comfort zones and I have the sizes deployed/strategy to deal with in place in a way that I can manage more than the average amount of drawdown in a run against me if I do make a bad entry/decision. I have labelled my charts so if you have read the thread as suggested you should understand what I am doing, some labels are not what over people in the mainstream use and some are things I see as clues to the next move but if I tell you about everything on there I will be here forever and it will take out the fun of working it out for yourself. I trade from just before Europe open to about half way through New York as my daylight most day, I only trade longer daylight if I get caught out in a run against me and I have not reached my overnight comfort level. I buy when it goes up and sell when it goes down, I watch the kingdoms and daily's for clues as to current market conditions.

I wrote this (above) earlier this morning and my trades have gone well so far today, NOT EVERY DAY IS LIKE THIS FOR ME.

Here we go GULP.

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-be careful about what you allow to be put in your mind-
  • #41,864
  • Aug 7, 2013 10:08am Aug 7, 2013 10:08am
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-be careful about what you allow to be put in your mind-
  • #41,865
  • Aug 7, 2013 3:19pm Aug 7, 2013 3:19pm
Quoting phil13
{image}

Nice shares Phil, Well played sir!
  • #41,866
  • Edited 5:51pm Aug 7, 2013 4:17pm | Edited 5:51pm
How anyone can survive these markets if they no nimble and well mm,
Bias ones either made a bomb or got killed.

over exposed is sure way to slaughter house? esp the ones "I made 10,000 with 100" types.
so brace for 2 way fights.
no greedy, only to bucket capacity. pls.
no leverage is best. if you can.
and don't spent your ammo in 1 battle.
seems is headless chicken terrains.

hah the friend was smart. took pic of headless dancers.
was a hint.
how did he know?
Just get caught in 1 headless dance and over exposure is toast.
The markets cannot find her equilibrium, its all over the place.

"Who goes there?" shoot first , ask questions later.
cheap buys is in aud, everything else is expensive , so no overstaying.
The race to zero.
seems majors mismanaged , no value investing.
need find value in minors and exotics.
needless to say the worst is the major of majors , usd.
euro and cable seems 1 eye, but usd, maybe she blind.

same old question.
how many engineers is required to screw in a light bulb?
i know takes 2 to hold the ladder.
4 to check and verify the certification is in order.
even god rested at 7.
maybe we may like add 1 more. daylight saving .
that makes 8.

when the sun changes poles, may need more?
by the way anyone know when nasa predict that will happen?
i remember , if not mistaken 2013.
so may be is not smart go sun tanning.
may gets chared. stay home like me, sick and tired.

If we manage find the wormhole.
maybe no need change the light bulb?


regards
  • #41,867
  • Aug 7, 2013 7:42pm Aug 7, 2013 7:42pm
Quoting phil13
Hi fti I have had a few people lately 'pm'ing me about how I trade your way/MO ( as I am sure others have who have been around here for a while now), I tell them all that I have had no personal tuition from you or even exchanged any 'pm's with you, all I have learnt is from what I understand from your thread and my way of trading is just that, my way!, I do not know if it is the same as you or even if it is close (though I hope it is near and that I have actually learnt something). From reading about other peoples trades here I believe we all do...
Hi Phil13
I agree with you on this subject that everybody eventually adapt for themselves their doctrine and interpretation of FTI way
and go threw a way of discovering themselves and their trading. My opinion that posting here charts will deviate from FTI basics to other ways. Even if we always state that this is our adopted way.
Everyone that wants to post his own way i think should open a journal for himself to save and to present his trading. This thread in my opinion have to be only the FTI way. So that new comers will always come to the basics of FTI and not to the deviation that w adapted. And every newcomer could adapt from this thread what suits him based on FTI's presentations.
regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #41,868
  • Aug 8, 2013 4:29am Aug 8, 2013 4:29am
Quoting -Michael-
{quote} Hi Phil13 I agree with you on this subject that everybody eventually adapt for themselves their doctrine and interpretation of FTI way and go threw a way of discovering themselves and their trading. My opinion that posting here charts will deviate from FTI basics to other ways. Even if we always state that this is our adopted way. Everyone that wants to post his own way i think should open a journal for himself to save and to present his trading. This thread in my opinion have to be only the FTI way. So that new comers will always come to...

interesting.
what you say is true.
in fact until today. i cannot find a copy of me, although i trained for institutions and now for free, here, after i retired.
we all brothers ,much is alike but not 1 a copy.

Would be nice, see the developments in my friends.
problem is won't be able know who they are, although some had posted here and i get to know them.
only then i know which journals visit. take a look. i am thinking there will be some exceeds me. That was the reason for doing this.

Another thingy is that my friends will have double task. Become like me document their learning curve research and posting here keep this source thread alive.
otherwise this source thread will expire when i am gone home.



regards
  • #41,869
  • Aug 8, 2013 4:54am Aug 8, 2013 4:54am
Quoting fti
{quote} interesting. what you say is true. in fact until today. i cannot find a copy of me, although i trained for institutions and now for free, here, after i retired. we all brothers ,much is alike but not 1 a copy. Would be nice, see the developments in my friends. problem is won't be able know who they are, although some had posted here and i get to know them. only then i know which journals visit. take a look. i am thinking there will be some exceeds me. That was the reason for doing this. Another thingy is that my friends will have double...

Quote
i cannot find a copy of me, although i trained for institutions and now for free, here, after i retired. we all brothers ,much is alike but not 1 a copy.

I think maybe part of the reason none can be quite like Fti, is that none of us are fortunate enough to actually see him doing his thing. I could be wrong of course.
Just know, that I can watch someone do something and grasp it very easily. Learning from reading is tough. Think (hope) I'm getting close though.
  • #41,870
  • Aug 8, 2013 7:32am Aug 8, 2013 7:32am

http://www.social-consciousness.com/...ciousness.html
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  • #41,871
  • Aug 8, 2013 7:46am Aug 8, 2013 7:46am
Quoting fti
http://www.social-consciousness.com/...ciousness.html {image}
very true. it is not the right ANSWER and this is not the real point. the tragedy is that the QUESTION was wrong from very beginning.
As Above, So Below
  • #41,872
  • Aug 8, 2013 8:35am Aug 8, 2013 8:35am
Hi Fti, Thank you for being helpfull and thank you about your comment about buying cheap Aud. you were %100 correct.
May I ask you , how do you know at that time Aud was cheap?

Who goes there?" shoot first , ask questions later.
cheap buys is in aud, everything else is expensive , so no overstaying.
The race to zero.
  • #41,873
  • Aug 8, 2013 9:31am Aug 8, 2013 9:31am
Happy Eid to all Muslims around the world
Learning is a Journey Not a Destination
  • #41,874
  • Aug 8, 2013 9:53am Aug 8, 2013 9:53am
Quoting fti
http://www.social-consciousness.com/...ciousness.html {image}
SO true
Learning is a Journey Not a Destination
  • #41,875
  • Edited 11:55am Aug 8, 2013 11:13am | Edited 11:55am
Quoting fti
{quote} interesting. what you say is true. in fact until today. i cannot find a copy of me, although i trained for institutions and now for free, here, after i retired. we all brothers ,much is alike but not 1 a copy. Would be nice, see the developments in my friends. problem is won't be able know who they are, although some had posted here and i get to know them. only then i know which journals visit. take a look. i am thinking there will be some exceeds me. That was the reason for doing this. Another thingy is that my friends will have double...
Hello FTI
You know like everybody in the world you are uniqe i think you will not find copy of you
Maybe someone that with the same MO and MM but still all your inner world your kindness your giving
It is something that now everybody have .
But all this is a part that needed to be a better person.
About Journals i think that it is a critical part of learning curve.
When we make a journal we can go back and look from a hindsight how was our perform
If There were better fights in order to get better at this
I think that journal it is also a very good thing to do because when you know that some one will look at your journal you dont do fumy things and try to be very serious about trading
regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #41,876
  • Aug 8, 2013 3:23pm Aug 8, 2013 3:23pm
Quoting k.k
Hi Fti, Thank you for being helpfull and thank you about your comment about buying cheap Aud. you were %100 correct. May I ask you , how do you know at that time Aud was cheap? Who goes there?" shoot first , ask questions later. cheap buys is in aud, everything else is expensive , so no overstaying. The race to zero.
AUD is cheap because it dropped more than 10% against USD and EUR in few months time but the inflation there for a year is only less than 3%.
And, if you open a bank account in Australia and transfer all your money there, you get 4% interests.
So, if I am a fund manager, I'll be collecting AUD for my clients now.
  • #41,877
  • Aug 8, 2013 3:42pm Aug 8, 2013 3:42pm
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  • #41,878
  • Aug 8, 2013 6:46pm Aug 8, 2013 6:46pm
Quoting fti
http://www.social-consciousness.com/...ciousness.html {image}

Nope! Rich solves nothing. Most of the time it creates more problems. i have never been rich, but I have been well off and poor as hell. Poor was much easier.

Simple pleasures seem so much more valuble than costly things. I could go to the river for a few dollars and spend the day with friends. No price on that.
just fun.

I only want money as a back up when needed. Medical bills and such..
  • #41,879
  • Aug 8, 2013 7:17pm Aug 8, 2013 7:17pm
Fti, my friend.

Just wanted to thank you again for all you have shared. Each time I have a good session, all I think about is what you have given here. I took about 13% in asia this evening and all done now. No sense pushing it. I lost as much before I recovered and made that though, so not batting 300 yet I guess. Just can't stop thinking about what you have given and so few are willing to give it a decent go. Oh well, just gonna keep on doing what I learned and try to get better. Can't save em all.

To those that are here, stay! Thats all i can tell ya.

Thought I would ad for fun. My other trader friends that don't embrace whats here think I am nuts! when i give a play by play. Tickles the shit out of me.
  • #41,880
  • Aug 8, 2013 7:24pm Aug 8, 2013 7:24pm
Quoting tubguy
{quote} Nope! Rich solves nothing. Most of the time it creates more problems. i have never been rich, but I have been well off and poor as hell. Poor was much easier. Simple pleasures seem so much more valuble than costly things. I could go to the river for a few dollars and spend the day with friends. No price on that. just fun. I only want money as a back up when needed. Medical bills and such..
as long as people with that kind of mindset, there will always be poor, begging for a piece of bread. hatred , disrespect, negligence of the rich is the core of all problems of humanity. being rich, powerful and independent is GOOD. being poor, dependable and weak is BAD. the philosophy of life is that SIMPLE.
As Above, So Below
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