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Technical Analysis Fallacy

  • #49,001
  • Jul 22, 2014 10:00am Jul 22, 2014 10:00am
Quoting kinky
consolidation or bounce or fall through.. 75/00.. lay your plans.. {image}
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I pity those who are too lazy or too close minded to read what Chief has given. He taught us not just about trading but life too.
  • #49,002
  • Jul 22, 2014 7:30pm Jul 22, 2014 7:30pm
Once in a while, I come around to see how this thread goes on. Here one day I see this disaster unfold and it saddens me to see this. I looked about at the smart instigator Anon or such, of this, and the first thing I noticed is how succinct and smart he came across has he not?

Well I noticed this one thing.

  1. Occupation: Institutional Trader

  1. Trading Style(s) Automated Systems, Price Action, Quantitative Analyst,Technical Analyst

  1. Trading Philosophy Do to a busy schedule, I will be moving to automated trading.

Perhaps I am old and foolish, but someone with no time, has time to post 2900 reply's. Well its just me. Perhaps its the age that makes me somewhat perceptive to these kind of things.

Has he perhaps been a little composed, perhpas then he may have endulged this old fool fti -and perhaps a bit of wisdom may have gotten through, but thats just my opinion.

For those of you who will read this thread and come to this post, I hope at some point, you should make the point to read those first 100 pages, read them once and read them again. I can only tell you that there is more technique and detail then you can possibly imagine. I will only tell you that if you do happen to read this post, you will stand a chance to achieve success, and to Anon - well Technical Analysis is a fallacy. I know, I know, you have all your great wisdom, but perhaps one day youwill look back and try to read the first 100 pages.

~Esprit~

  • #49,003
  • Jul 22, 2014 10:58pm Jul 22, 2014 10:58pm
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don't predict direction, but dance with flow of water
  • #49,004
  • Jul 23, 2014 12:16am Jul 23, 2014 12:16am
IF
If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you;
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about , don't deal in lies,
Or being hated don't give way to hating,
And yet don't look too good, nor talk to wise:

If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear the truth you have spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools.

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at the beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the WILL which says to them: 'Hold on!'

If you can talk with crowds and keep your virtue,
Or walk with Kings - nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it.
And - which is more - you'll be a Man, my son!

Rudyard Kipling

regards
don't predict direction, but dance with flow of water
  • #49,005
  • Jul 23, 2014 1:23am Jul 23, 2014 1:23am
Quoting priceaction1
{image} {image}
That photo bears resemblance to fti, is that him? I think I missed that post..
THE ALL is MIND; The Universe is Mental
  • #49,006
  • Jul 23, 2014 1:28am Jul 23, 2014 1:28am
fighter pilot. he was.
don't predict direction, but dance with flow of water
  • #49,007
  • Jul 23, 2014 2:02am Jul 23, 2014 2:02am
Hello Guys
Long Time didnt posted Some Links of FTI
So today I would like to post some links what FTI said about indicators
Link 1 Answer to Zoran
Link 2
Link 3 No need to give up on indicator ,Keep them hidden
Link 4 Biased Mind from indicator
Link 5

There is much more on indicators
regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
  • #49,008
  • Jul 23, 2014 2:19am Jul 23, 2014 2:19am
..handsome chap too .....
check out the terrain - follow never lead
  • #49,009
  • Jul 23, 2014 6:51am Jul 23, 2014 6:51am
Quoting -Michael-
Hello Guys Long Time didnt posted Some Links of FTI So today I would like to post some links what FTI said about indicators Link 1 Answer to Zoran Link 2 Link 3 No need to give up on indicator ,Keep them hidden Link 4 Biased Mind from indicator...

thanks for links

I read that m5 12 sma is good for working out strength of leg and it shows h1 average price (48 sma for h4 avg) so it may be useful for rescue as price will come back to it - m15 is clearly 4 & 16 sma - BUT not to be used rigidly and not signals.
check out the terrain - follow never lead
  • #49,010
  • Edited 10:16am Jul 23, 2014 9:21am | Edited 10:16am
Quoting alexandria
{quote}it may be useful for rescue as price will come back to it
price may or may not come back to it in your chosen time window

when px starts to go sideway, MA will come to it sooner or later. MA will have new value by then, if that is the case, is it useful for rescue?
THE ALL is MIND; The Universe is Mental
  • #49,011
  • Jul 23, 2014 10:36am Jul 23, 2014 10:36am
Quoting Jacque
{quote} price may or may not come back to it in your chosen time window when px starts to go sideway, MA will come to it sooner or later. MA will have new value by then, if that is the case, is it useful for rescue?
thank you for your reply

yes I see your point - but if I am going short and I am not with market - when price moves in thrust long so above mas at a distance from mas - is it not true that it will retrace short back to ma (as it is an average so nature) giving an opportunity to rescue my short trade - am I wrong in thinking as - I am new to this rescue thing - never had to think about it really except know when to turn.

Do not get me wrong I am not trying to sneak in some indicators - I am just trying to figure out when I could rescue.
check out the terrain - follow never lead
  • #49,012
  • Jul 23, 2014 10:50am Jul 23, 2014 10:50am
Quoting kinky
consolidation or bounce or fall through.. 75/00.. lay your plans.. {image}
thanks for chart- when do you take profit?
check out the terrain - follow never lead
  • #49,013
  • Edited Feb 6, 2015 3:34am Jul 24, 2014 12:04am | Edited Feb 6, 2015 3:34am
Thank you, Fredde.
I will try my very best to put your words engraved in me to great use for the remainder of my life.
If god offers me the opportunity to be a successful man in the future, and people start to ask how. I will only say your name and pause in remembrance of you & the good people of the TAF family. It was truly an honor to have exchanged words with you. Thank you for this opportunity, and the sacrifices you've made to try and teach your experience, as it was truly an eye opener for me.
I wish you the most peace, fortune, love & everything.

your apprentice,
{Personal Info Removed}


Goodbye Forex Factory. Thank you to all those individuals who befriended me late in the thread, you guys are truly amazing.
And to those who wrote in the past, who shared their long hours and created a community to try and help demystify the thread as best as possible, my sincerest gratitude.
Attached Image
  • #49,014
  • Jul 24, 2014 1:08am Jul 24, 2014 1:08am
Quoting Swis
Thank you, Fredde. I will try my very best to put your words engraved in me to great use for the remainder of my life. If god offers me the opportunity to be a successful man in the future, and people start to ask how. I will only say your name and pause in remembrance of you & the good people of the TAF family. It was truly an honor to have exchanged words with you. Thank you for this opportunity, and the sacrifices you've made to try and teach your experience, as it was truly an eye opener for me. I wish you the most peace, fortune, love & everything....

Hi Swis

goodbye and good luck my friend .

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #49,015
  • Jul 24, 2014 1:10am Jul 24, 2014 1:10am
Quoting alexandria
{quote} thanks for chart- when do you take profit?
hey ale, i squared at 3468. looks like euro tanked again.. possibly aiming for 34 handle.. but i have no position already..
  • #49,016
  • Jul 24, 2014 1:12am Jul 24, 2014 1:12am
Quoting Swis
Thank you, Fredde. I will try my very best to put your words engraved in me to great use for the remainder of my life. If god offers me the opportunity to be a successful man in the future, and people start to ask how. I will only say your name and pause in remembrance of you & the good people of the TAF family. It was truly an honor to have exchanged words with you. Thank you for this opportunity, and the sacrifices you've made to try and teach your experience, as it was truly an eye opener for me. I wish you the most peace, fortune, love & everything....
gonna miss everyone here.. take care, my friend.
  • #49,017
  • Jul 24, 2014 2:27am Jul 24, 2014 2:27am
Quoting Swis
Thank you, Fredde. I will try
Good luck - I wish you well & I thank you for the help/encouragement you have given me - for my part I am going to continue on my journey only just starting the fti way - I hope others continue to keep the thread going in the way I am sure FTI would have liked - only time will tell
check out the terrain - follow never lead
  • #49,018
  • Jul 24, 2014 3:12am Jul 24, 2014 3:12am
Quoting fti
ok, chart reading patterns. reversal patterns. ----------------- double tops , and bottoms. triple tops and triple bottoms. head and shoulder neck breaks, inverted head and shoulder neck breaks. congestion patterns ------------------- triangles. flags. assasins. gates. fish bones. .......
Can anyone tell me what FTI means by assasins, gates...?

By assassins is it reversal candle patterns?
check out the terrain - follow never lead
  • #49,019
  • Edited 4:13am Jul 24, 2014 3:52am | Edited 4:13am
My first response was Oh come on.....!!!!
What the ????

But after i have calmed down, i think it best to accord respect where respect is due.
And let ills in its different forms consume itself.

Fti, thanks for taking time all these years to tutor us here in FF.
Many lessons not just in trading i carry with me and practice everyday, when i interact with friends, coworkers, kids and family and with the markets.

Your friends and students here in FF will always be grateful.

God bless...

Do good... Cos it comes back...
  • #49,020
  • Jul 24, 2014 4:03am Jul 24, 2014 4:03am
Quoting Swis
Thank you, Fredde. I will try my very best to put your words engraved in me to great use for the remainder of my life. If god offers me the opportunity to be a successful man in the future, and people start to ask how. I will only say your name and pause in remembrance of you & the good people of the TAF family. It was truly an honor to have exchanged words with you. Thank you for this opportunity, and the sacrifices you've made to try and teach your experience, as it was truly an eye opener for me. I wish you the most peace, fortune, love &...
remember to stay under radar.http://www.bloomberg.com/news/2014-0...ng.htmlregards
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