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Technical Analysis Fallacy

  • #47,061
  • Jun 12, 2014 11:15am Jun 12, 2014 11:15am
ok, i'll call it a day.
a good day's work. goodnite.

Inserted Video


regards
  • #47,062
  • Jun 12, 2014 11:17am Jun 12, 2014 11:17am
Quoting fti
ok, i'll call it a day. a good day's work. goodnite. http://www.youtube.com/watch?v=PlDdcCzKjsc regards
night folks! many more to come!
  • #47,063
  • Jun 12, 2014 11:39am Jun 12, 2014 11:39am
Quoting CookieMonsta
{quote} hi phil, for the bid and ask plotting, is it averaged? or is it taken at the end of 5mins? or is it from tick data? the charts seems very smoothed out and hides the bid and ask's readjustments.

Hi CookieMonsta

Sorry for the late reply, I wanted to wait until everyone had finished the trading session so as not to disturb anything.

I use the pump and rest motion of the market to try to guess where the ask/bid ranges may be, this takes time out of the equation, the interbank is a 4 digit market that is why the charts are so different.

Here is the same retail chart with I hope a better explanation.

This is just MY take on trying to work out the IB ask/bid rates no one has shown me this. So don’t take this as a tried and tested thing.

regards

Phil.

Attached Image (click to enlarge)
Click to Enlarge Name: eu1.png Size: 100 KB
-be careful about what you allow to be put in your mind-
  • #47,064
  • Jun 12, 2014 12:49pm Jun 12, 2014 12:49pm
Quoting fti
{quote} now you understand why they never going allow you trade fX. while on the job. you lucky you not handling dangerous machinery. regards

Yes lucky no dangerous machinery for me....but i will still be trading..learning..

V
  • #47,065
  • Edited 8:16pm Jun 12, 2014 3:16pm | Edited 8:16pm
it was extended hour day, but pay off manage to close my second long @ 1.3568.
don't predict direction, but dance with flow of water
  • #47,066
  • Jun 12, 2014 9:41pm Jun 12, 2014 9:41pm
Quoting phil13
{quote} Hi CookieMonsta Sorry for the late reply, I wanted to wait until everyone had finished the trading session so as not to disturb anything. I use the pump and rest motion of the market to try to guess where the ask/bid ranges may be, this takes time out of the equation, the interbank is a 4 digit market that is why the charts are so different. Here is the same retail chart with I hope a better explanation. This is just MY take on trying to work out the IB ask/bid rates no one has shown me this. So don’t take this as a tried and tested thing....

phil, are you going back to indicators trading?
Just that i sensing that feel from the charting.


regards
  • #47,067
  • Jun 12, 2014 9:45pm Jun 12, 2014 9:45pm
Quoting indianguyinny24
{quote} Yes lucky no dangerous machinery for me....but i will still be trading..learning.. V
noted my friend.
they won't let you trade so you can only demo.
But demo has its limitations in the learning curve.

Is possible mentor an understudy. Then at least you get feel performance/ development. maybe? Just thinking aloud.

regards
  • #47,068
  • Jun 12, 2014 9:47pm Jun 12, 2014 9:47pm
Quoting priceaction1
it was extended hour day, but pay off manage to close my second long @ 1.3568.
fighter? huh, so long as health allows hor, my friend. Don't become like me.
i am too hard head also, still not regrets. probably my friends predicted right. die standing type personality.
Now already conferred title "last yoyo still standing". but only because we not in touch with the next wave.

regards
  • #47,069
  • Edited 10:10pm Jun 12, 2014 9:51pm | Edited 10:10pm
i see, The cable had a big boost from iron lady in twinlight zone.
Funny thing was he didn't say anything very special.
Question in my mind.
whats the prospect try 1.7????

watching. so close to kiss 2nd time.
if fails again
many questions, only use eyes and fingers decide.

May i have keys to the roller coaster ignition.
I not suppose that markets was caught short yesterday NY.
no reasons short on cable after the usd figs.
so whats the bulls going to try. They eye balling each other? staring each others every move.
anyway charts a rocket,so i try not be too clever.
Thinking too much gonna impeed performance nimbleness.

kiss, no kiss , may just get slapped. never knows. Thats why have markets.


regards
  • #47,070
  • Jun 12, 2014 10:07pm Jun 12, 2014 10:07pm
Yes, A decent boost indeed. I just happen to be on the wrong side of the road...

  • #47,071
  • Jun 12, 2014 10:15pm Jun 12, 2014 10:15pm
Quoting FFBinary
Yes, A decent boost indeed. I just happen to be on the wrong side of the road...
ai yo, going be long pain drag, if decides stand ground.
may survive if resources robust. but stress will be high if they stretch.

times like this, feels happy have aside position.
less stress much managing options available.

manage well.

Can only warn you not dig deeper until find clean topping. steady nerves. no be hasty.
and keep marking book to market . Know your location on your risk profile.

maybe is good start simulating book health at differing extreams.
check what damages maybe like and how much available resources available for use in case tops.
Then you need plan recovery strategies.



regards
  • #47,072
  • Jun 12, 2014 10:32pm Jun 12, 2014 10:32pm
Thanks Chief,
Yes it is rather a large train to be jumping in front of at the moment... Reserves waiting.
  • #47,073
  • Jun 12, 2014 10:43pm Jun 12, 2014 10:43pm
Quoting FFBinary
Thanks Chief, Yes it is rather a large train to be jumping in front of at the moment... Reserves waiting.
ok seems you have your thoughts mapped out.
Just try not listen anyone or unnecessary opinions.
use your mind on your strategies.
no one else can map your paths , only you.

goodluck


regards
  • #47,074
  • Jun 12, 2014 11:00pm Jun 12, 2014 11:00pm
But but but... then there is nobody to "blame" but myself .. Pushing for 1.7.. I shall hide in the bushes and wait...
  • #47,075
  • Jun 12, 2014 11:12pm Jun 12, 2014 11:12pm
Quoting FFBinary
But but but... then there is nobody to "blame" but myself .. Pushing for 1.7.. I shall hide in the bushes and wait...
nothing to blame.
just need manage it best you can.
otherwise run for cover.

i cannot tell you what i would do, you probably already knows.

By the way, i wondering is pain exceeding 3%?or X3 normal P&L.
no need answer me. i just trying help you strategise in your mind.



regards
  • #47,076
  • Edited 11:37pm Jun 12, 2014 11:25pm | Edited 11:37pm
ok euro
i bot 59.2 ave.
they try sucker me take i sold them sqared 62

eyeying triple bottom on 5 mins @ 53

neck line for triple bottom is about 55

but NY close yesterday exibit weakness.
so we may have a wider range.

seeing nothing much except trying see how deep the bottom of this range.
+- 70 pips either way to determine.
need eyeball more chart info.

meanwhile seeing some hesitant in cable
aud remains robust upwards
euro remains weak due to euro cable and euro aud crosses.
  • #47,077
  • Edited 11:52pm Jun 12, 2014 11:39pm | Edited 11:52pm
euro supports being tested now.
need see more.

probably sit here wait frankfurtters show hand.
good time foe me make nice kopi.
Attached Image
  • #47,078
  • Jun 13, 2014 12:10am Jun 13, 2014 12:10am
is either bulls no trust each other or is bear trap
trying small shorts.
aud also topping
i start bargainsellings.
  • #47,079
  • Edited 12:39am Jun 13, 2014 12:13am | Edited 12:39am
Chief,


M A IL......


V
  • #47,080
  • Jun 13, 2014 12:13am Jun 13, 2014 12:13am
smack right in middle of 53/57 range?
just got my 57 fills back
just small short scouts.
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