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Technical Analysis Fallacy

  • #45,121
  • Mar 12, 2014 11:28pm Mar 12, 2014 11:28pm
Quoting CookieMonsta
{quote} Hi, Yea, I read the 200 pages, but I did not follow everything there, as I had to account for what I found uncomfortable, for example the rescue, I find that I may revert to hope and that is very detrimental, that's why I changed it to suit myself better, in the end I only do attacks.
nothing wrong with it....till ur daily profit > daily loss or weekly profit>weekyl loss...

after 4 year i am still unable to attackproperly.....and for rescue i have lost sometime a lot too...

V
  • #45,122
  • Edited 12:36am Mar 13, 2014 12:09am | Edited 12:36am
Quoting indianguyinny24
{quote} nothing wrong with it....till ur daily profit > daily loss or weekly profit>weekyl loss... after 4 year i am still unable to attackproperly.....and for rescue i have lost sometime a lot too... V
Hi, Thanks for the advice, everyone is different after all, and will have preferred Mo and mm. my attacks are a little different too, they go with the progression of 1 1 1 1 or 1 2 1 1 1Anymore and u may have to perform rescues after that, which may turn sour too, hence, playing great defence is one of my goal, if I'm the position goes to profit, then moves near to only 1 pip profit, I may just take small scalp profit and then reassess the situation, rather than to weather draw down, which I feel is not fitting for myself, my operating metaphor is great defence till ur enemy present u with an opportunity to attack, only then do u bring the long sword out. Also my risk adjusted position size for the scout is 0.3% to 0.5%, benchmarked to my requirement to be wrong, so I have a stop loss set in place for that. Though fti says to not use it, I rather be a sitting duck than fall prey to hope. And if I become a sitting duck it means my skills are still inadequate. Just my 2 cents as to my take away from fti.
  • #45,123
  • Mar 13, 2014 2:40am Mar 13, 2014 2:40am
Quoting fti
wow they going try 1.4? interesting. this i gotta watch. Is not everyday see big bunch of dealers nervous. this the sort of places , whatever one does is wrong. is more interesting than a soccer match, is suckers match. the nervous sucks thumb, the winners maybe glass of tomato juice? bloody mary? regards
Wow u superd u right, almost there now 1.3947. As sharp as ever.
  • #45,124
  • Mar 13, 2014 3:21am Mar 13, 2014 3:21am
Hi CookieMonsta

I hope you do not mind me trying to help, I can see the place you are at, I was there some time ago, I am not a gambler, I have never even been in a betting shop, these things hold no interest for me, I too tried to remove ALL the risk through MM, but in the end you have to accept this is just not possible, so my practical approach then became to remove as much risk as I could, this takes time, lots of time/experience each scenario we are presented with is different from the last, but knowing how the market works and presents itself helped me (another tool), I sense you almost have a fear of the market (as I did), mine it turned out was because I did not understand how the market moved/worked, in the first page/first post of this great thread fti has listed the important things to know about to become successful at this, the MM is just one tool you need to survive, I see most people who come here talk about it as though it is what this thread is about, I dare say I was the same when I first came across this thread and started posting, I have re-read this thread (first 200 page) more than a few times now, and I nearly always find something I missed before, one thing most miss is that fti stated that what he has presented here is about a two year course that is why you have to slow down and settle in while you work your way through your own experiences and learn about yourself/mindset/market.

Indianguyinny24 gives some good advice in his few lines, it is worth thinking about what he says.

Good luck with your learning curve, enjoy it

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #45,125
  • Mar 13, 2014 7:35am Mar 13, 2014 7:35am
Quoting phil13
Hi CookieMonsta I hope you do not mind me trying to help, I can see the place you are at, I was there some time ago, I am not a gambler, I have never even been in a betting shop, these things hold no interest for me, I too tried to remove ALL the risk through MM, but in the end you have to accept this is just not possible, so my practical approach then became to remove as much risk as I could, this takes time, lots of time/experience each scenario we are presented with is different from the last, but knowing how the market works and presents itself...
Hi phil,

Thanks for the advice, I truly appreciate it.

However, I tried with the no stop loss method for a month, and my rescues are simply not good enough or the mindset is just not right, and the losses were too huge.
What I understood from this is that changes to methodology arise from the needs and the functionality to help preserve the book and be in tune with my nature. There is something I learnt that is other things in life can affect your trading and affect your peace of mind, like frustration from work, and you may not even be aware of yourself in the attempt to rescue your position and then your mood changes to anger and to ego in the process and that is when you go to the deep and dark places. I personally experienced this, albeit on a demo account, hence I do not wish to approach it this way. After all in retail trading its every man for himself, no one is there to take care of you, so I have to learn to take care of myself, and understand myself and my enemy. Which ultimately made me realise that for all risk, mitigate with skill, read the market better and do a good job of it. Hence the stop loss is to me, an indication of performance, and a safeguard against ego and anger.

As in trading, all are fluid, nothing is as important as adaptability. Its not that fti is wrong and I disagree with him, he is definitely right and has the experience to back it, but if I can't use it well, it could behead me.

I know you are trying to help, but circumstances not related to trading can affect me too, and I have to account for those too.
  • #45,126
  • Mar 13, 2014 9:36am Mar 13, 2014 9:36am
deleted
THE ALL is MIND; The Universe is Mental
  • #45,127
  • Mar 13, 2014 9:36am Mar 13, 2014 9:36am
{quote} Hi phil, Thanks for the advice, I truly appreciate it. However, I tried with the no stop loss method for a month, and my rescues are simply not good enough or the mindset is just not right, and the losses were too huge. What I understood from this is that changes to methodology arise from the needs and the functionality to help preserve the book and be in tune with my nature. There is something I learnt that is other things in life can affect your trading and affect your peace of mind, like frustration from work, and you may not even be aware of yourself in the attempt to rescue your position and then your mood changes to anger and to ego in the process and that is when you go to the deep and dark places. I personally experienced this, albeit on a demo account, hence I do not wish to approach it this way. After all in retail trading its every man for himself, no one is there to take care of you, so I have to learn to take care of myself, and understand myself and my enemy. Which ultimately made me realise that for all risk, mitigate with skill, read the market better and do a good job of it. Hence the stop loss is to me, an indication of performance, and a safeguard against ego and anger. As in trading, all are fluid, nothing is as important as adaptability. Its not that fti is wrong and I disagree with him, he is definitely right and has the experience to back it, but if I can't use it well, it could behead me. I know you are trying to help, but circumstances not related to trading can affect me too, and I have to account for those too.[/quote]

Hi CookieMonsta,

in response to your previous post for SG broker, you may be interested in checking out Oanda.

Also, thanks for sharing your journey. Mindset is very important. Proper Mindset is safeguard against ego, anger, rigidity and etc. Proper mindset means fluidity and adaptability is present. How about Mindset for a start? There are many stories that fti has graciously shared on this thread, it may be good to re-peruse them.

Below was previously shared on the thread. For your easy perusal -
Alan Watts
Inserted Video


Regards
THE ALL is MIND; The Universe is Mental
  • #45,128
  • Mar 13, 2014 12:36pm Mar 13, 2014 12:36pm
Wow super rosller coaster rides.
i missed all the fun.
ai ya lazy energies. lazy me.

Seems was told some peeps are banging the war drums.
ya ya point finger at me and i will break em.
everyone needs some excitement get the blood flowing hor.

This friday not have much figs guidance.
so is matter who shakes first.
the bulls or the bears.
Today already pigs had field day.

I best crawl down to the kitchen , see what goodies awaits me.
at 12am... maybe at 2 am i may take nice dipping in tube also.
Depends, but is still hot hot hot.


regards
  • #45,129
  • Mar 13, 2014 1:17pm Mar 13, 2014 1:17pm
delicious java noodles.
oops i crawl down the stairs.
seems the bulls feel down the stairs.
what happened?
whats with this earth shattering drops.


missed all the fun again.
  • #45,130
  • Mar 13, 2014 1:21pm Mar 13, 2014 1:21pm
Quoting fti
Wow super rosller coaster rides. i missed all the fun. ai ya lazy energies. lazy me. Seems was told some peeps are banging the war drums. ya ya point finger at me and i will break em. everyone needs some excitement get the blood flowing hor. This friday not have much figs guidance. so is matter who shakes first. the bulls or the bears. Today already pigs had field day. I best crawl down to the kitchen , see what goodies awaits me. at 12am... maybe at 2 am i may take nice dipping in tube also. Depends, but is still hot...

Chief,

i cant dance in this market...again maybe my weakness but Eur /USD is not my cup of tea again i dont trade but i still trade in demo only....but humbly i cant rade eur usd/....AUD i can...and can try to trade AUD /EUR cross but this entire market looks more rigged then ever to me....

honestly i think it is bull and bear fight and we might get saughtered....

V
  • #45,131
  • Edited 1:58pm Mar 13, 2014 1:45pm | Edited 1:58pm
Quoting indianguyinny24
{quote} Chief, i cant dance in this market...again maybe my weakness but Eur /USD is not my cup of tea again i dont trade but i still trade in demo only....but humbly i cant rade eur usd/....AUD i can...and can try to trade AUD /EUR cross but this entire market looks more rigged then ever to me.... honestly i think it is bull and bear fight and we might get saughtered.... V
don't worry my friend.
I not think they slaughter spectators.

This only peeps i know not let spectators off easy.
everybody gets wet wet.
actually with this hot hot hot , i not mind gets wet wet.
Inserted Video



regards
  • #45,132
  • Mar 13, 2014 1:47pm Mar 13, 2014 1:47pm
Quoting fti
{quote} don't worry my friend. I not think they slaughter spectators. regards


even if they do ....

Inserted Video


V
  • #45,133
  • Mar 13, 2014 2:00pm Mar 13, 2014 2:00pm
Quoting indianguyinny24
{quote} even if they do .... http://www.youtube.com/watch?v=rSB9VJcwQsc V

they wetting ego la.


regards
  • #45,134
  • Mar 13, 2014 2:02pm Mar 13, 2014 2:02pm
Quoting fti
{quote} they wetting ego la. regards

na just getting up back all the time lol....

V
  • #45,135
  • Mar 13, 2014 2:30pm Mar 13, 2014 2:30pm
Quoting indianguyinny24
{quote} na just getting up back all the time lol.... V
getting up and 1 more steo uphill.
this only way to live, my friend.

regards
  • #45,136
  • Mar 14, 2014 1:22am Mar 14, 2014 1:22am
Hi To FTI and all my Friends Here
Some you tube that i want to share
I dont remember if it was already here but this
makes my soul to get Exited every time i hear it .

Inserted Video


Every body have a wonderful Mood for the weekends
Regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #45,137
  • Mar 14, 2014 2:02am Mar 14, 2014 2:02am
Hi all
for experienced fti followers,can u please help guiding me
about the attack timing and the rescue right timing
if there is any guiding for fti posts
thanks in advance
Learning is a Journey Not a Destination
  • #45,138
  • Edited 3:10am Mar 14, 2014 2:32am | Edited 3:10am
Quoting FFStudent
Hi all for experienced fti followers,can u please help guiding me about the attack timing and the rescue right timing if there is any guiding for fti posts thanks in advance
Hi FFStudent
Still Learning so my answers are just my opinion or interpretation of my understanding of FTI teachings

Timing is something that for me very hard because you never know when thats why
i think you need to understand "Time Window" the time when you have an oportunity
With scout you try to feel the market .

So For Sabbath reading :

Link 1 - FTI quote "I use the elliot wave study to compliment the implimentation of fibo generated sequenses for timing of position rescue size, as a limiter of position snowballing only. As you may realise also to skewing of the progression from dealer to dealer."

Link 2 - Not to Overstay , Time yourself

Link 3 - Miss timing

Link 4 - "And the focus would be reverted to the timing of the hit which is determined by the gradient of the move (dance), which is a visual of it volitility."

Link 5 - "And timing becomes an issue"

Link 6 - "The mind can capture that picture , only the timing may be slightly out paced. Thats why you have to have rescue options to align with the flow again."

Link 7 - This post somes up the Timming "There is timing in everything. Timing in strategy cannot be mastered without a great deal of practice "

Link 8 - "Although TA can become a good timing mechanism for positions, one still needs to knwo whats happening in the markets."

Link 9 - "be patient to timing your attacks"

Link 10 - "Therefore I have advocated always to be patient to timing your attacks"

To sum all UP - Practice Practice Practice there is no magic pill maybe magic Feel

Reagrds

Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #45,139
  • Mar 14, 2014 2:45am Mar 14, 2014 2:45am
My rescue troops needs a rescue
Learning is a Journey Not a Destination
  • #45,140
  • Mar 14, 2014 3:13am Mar 14, 2014 3:13am
Quoting FFStudent
My rescue troops needs a rescue
You are The General and You are a captain of your Army
You Layed plans of this Fight
You r the one that can Decide what to do .
Hope you will make wise decisions
Dont Forget Rule of Preserving your capital
and always have in the Head The WW Table
There is always next fight
regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
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