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Technical Analysis Fallacy

  • #49,041
  • Jul 26, 2014 4:09pm Jul 26, 2014 4:09pm
never underestimate power of music...even the songs here

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V
  • #49,042
  • Jul 26, 2014 9:30pm Jul 26, 2014 9:30pm
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  • #49,043
  • Jul 26, 2014 11:37pm Jul 26, 2014 11:37pm
Quoting fti
{image}

thank you...beautiful...

V
  • #49,044
  • Jul 27, 2014 4:45am Jul 27, 2014 4:45am
Quoting fti
{image}
don't predict direction, but dance with flow of water
  • #49,045
  • Jul 27, 2014 4:57am Jul 27, 2014 4:57am
Quoting fti
{image}

...... but there are also those who would .... maybe I am out of line....but anyway .. have fun whatever you are doing.. I have a feeling you have fun whatever - your posts have great humanity/humour in them/who taught you such great life lessons - just thinking out loud - I can guess...
check out the terrain - follow never lead
  • #49,046
  • Jul 27, 2014 5:27am Jul 27, 2014 5:27am
every one knows did he jump or not.
don't predict direction, but dance with flow of water
  • #49,047
  • Jul 27, 2014 5:45am Jul 27, 2014 5:45am
chief
don't predict direction, but dance with flow of water
  • #49,048
  • Jul 27, 2014 7:14am Jul 27, 2014 7:14am
By lucky chance I came across this thread a few weeks ago read 95 pages , then started again from page 1 up to 115 and a big thank you to all who have made this such a fascinating read ! Personally feel my trading will be all the richer for this thread , it already is as I ditch the training wheels ! Fti THANK YOU .
  • #49,049
  • Jul 27, 2014 8:54am Jul 27, 2014 8:54am
http://www.zerohedge.com/news/2014-0...omplete-charts
THE ALL is MIND; The Universe is Mental
  • #49,050
  • Jul 27, 2014 9:05am Jul 27, 2014 9:05am
A question to anyone who can answer:

I live in Europe, but I use NZ broker which has Daily candles set to NY closing time...on my trading station at 23h in my local time and when the candle starts to form sessions are like this (this is my local time which is GMT+1):

Sidney 23-08h, Tokyo 02-11h, London 09-18h, NY 14-23h at 23h my local time a new candle starts (that is 00h server time on MT4)

When I wake up around London open (yes I don't like to get up early ) I start trading around 10AM (or 9AM London time) I look at what Sidney and Tokyo did, like was the price rising in their session and go long immediately at the current market price (I like to look where the price is relative to daily pivot points too, and love to go short below main pivot and long above I know FTI doesn't advocate anything on chart except raw price, but I can't help it right now I find pivots with their support/resistance lines good for price action...I use them for re-averaging when the price is going against me)

Now my main question is when a market maker comes to his job in London and opens up his platform and sees that the market makers from Asia were driving price up aka buying will he continue to buy therefore establishing a buy trend for that day for that currency pair or not?

Are there any reasons for him not to go with the flow established prior before him? What is he thinking at the moment? FTI would be excellent person to answer this question as he was there in these situations, but anyone else will do if they know the answer
  • #49,051
  • Jul 27, 2014 9:11am Jul 27, 2014 9:11am
Quoting merquise
A question to anyone who can answer: I live in Europe, but I use NZ broker which has Daily candles set to NY closing time...on my trading station at 23h in my local time and when the candle starts to form sessions are like this (this is my local time which is GMT+1): Sidney 23-08h, Tokyo 02-11h, London 09-18h, NY 14-23h at 23h my local time a new candle starts (that is 00h server time on MT4) When I wake up around London open (yes I don't like to get up early ) I start trading around 10AM (or 9AM London time) I look at what Sidney and Tokyo did,...

if you are the market maker, is seeing the asia MM driving px up a good enough reason for you to buy? What is the headlines for the day? Who is buying in the market and why are they buying? What does the chart says? Will there be a reason for peeps looking at chart to buy? Is this the seson where corp will be buying to reparitrate money back to close their books? Did you read market structure on thread?

do you know the function and purpose of a market maker? who are the players? how does a market maker make his money?

pls read thread
THE ALL is MIND; The Universe is Mental
  • #49,052
  • Jul 27, 2014 9:27am Jul 27, 2014 9:27am
MM have presence all around 24H positions shift from one station to another station. MM and money never sleep. though large order come during Landon and Landon/ny over lap time. it is flow that move in one direction or other.
don't predict direction, but dance with flow of water
  • #49,053
  • Jul 27, 2014 9:31am Jul 27, 2014 9:31am
http://mic.com/articles/92369/15-pow...mble-president
THE ALL is MIND; The Universe is Mental
  • #49,054
  • Jul 27, 2014 9:44am Jul 27, 2014 9:44am
Quoting Jacque
{quote} if you are the market maker, is seeing the asia MM driving px up a good enough reason for you to buy? What is the headlines for the day? Who is buying in the market and why are they buying? What does the chart says? Will there be a reason for peeps looking at chart to buy? Is this the seson where corp will be buying to reparitrate money back to close their books? Did you read market structure on thread? do you know the function and purpose of a market maker? who are the players? how does a market maker make his money? pls read thread
Jacque I don't know who is buying in the market, as a retail trader I don't have that kind of information. All I see is when I wake up and open my platform I see that price increased during the Asian session so my conclusion is that MM pushed the price up for whatever reason. I don't look past weekly charts to see the overall trend, but it doesn't give me the answer to who is determining the daily trend if you know what I mean.

Who is setting the trend for the day? Who is following it? I have read the first 200 pages, and I know who the market players are, and I know who the market maker is (he is making the market, he is setting the price, and he earns his money from the spread...)

Suppose that there are no major news for that day and the price is rising...on daily and weekly charts the downtrend is in effect but it should not bother you that much because you are (well me actually ) day trading and closing all positions around NY close if you have some opened.

I am trying to comprehend an intra day trend if you know what I mean

What does a person who works in a big bank as a bank trader think when he goes to his job in the morning and sees that the price is higher at the moment that the open price for that day? What is his thought process?
  • #49,055
  • Edited 10:05am Jul 27, 2014 9:52am | Edited 10:05am
Quoting merquise
{quote} Jacque I don't know who is buying in the market, as a retail trader I don't have that kind of information. All I see is when I wake up and open my platform I see that price increased during the Asian session so my conclusion is that MM pushed the price up for whatever reason. I don't look past weekly charts to see the overall trend, but it doesn't give me the answer to who is determining the daily trend if you know what I mean. Who is setting the trend for the day? Who is following it? I have read the first 200 pages, and I know who the...
if what i shared with you doesnt help you and since you said you already read first 200 pages, then now please reread and absorb the essence of what you have read. you will find the thought process of a person working in the bank in the first 200 pages.

you saying you dont have that kind of info as to who is buyng in the mkt. yet you asking who is setting the trend of the day. by your question and answer, isnt it obvious that you wont know unless you working in the bank and you able see counterparty of who bought from you or that of your good broker friends telling you?

seems you asking for the golden goose and if there is one, no one will sell it to you. please read first post.

and why you so rigid? who set the rule that a day trader must close all position at NY close?

you trying to comprehend intraday trend? how difficult is that? if its persistent moving up, then its up trend, it is up down at same price, then it is in range. if its is persistently moving down, then its down trend. you think market maker can anyhow move price he likes? do you know how many banks there are? how many makert makers there are? do you know how countires fight a war? you think russia can anyhow go start a war with USA? sure he can easily start a war in crimea, small country, near them and thus easy to bully. go start with USA, what are the stakes, what are the losses, who are his allies? who can side him and push the opinions?

you please go re read thread.

and pls read art of war.

is like asking, Russia wakes us and see USA blasting them with negative opinions, so what is the thought process of the president when he hears that?
THE ALL is MIND; The Universe is Mental
  • #49,056
  • Jul 27, 2014 10:08am Jul 27, 2014 10:08am
Jacque I am not looking for a golden goose but seems to me that you do not fully understand me..

I have been reading the art of war for the last 8 years because of my involvement in martial art training but thanks for the suggestion...I suggest you to read a Bushido code also since it is what I try ( I say try as it is difficult to follow) to follow in real life...
  • #49,057
  • Jul 27, 2014 10:10am Jul 27, 2014 10:10am
Saw fti post,
yay.
I'm back(a whole 4 days then withdrawal closed in), mostly because, I'm not sure how people in the real world let go of something that's had a big impact in their lives and has taken a lot of time.
fti, keep the infrequent posts coming, I'm still feeling the nice vibes~
  • #49,058
  • Jul 27, 2014 10:14am Jul 27, 2014 10:14am
Quoting merquise
{quote} Jacque I don't know who is buying in the market, as a retail trader I don't have that kind of information. All I see is when I wake up and open my platform I see that price increased during the Asian session so my conclusion is that MM pushed the price up for whatever reason. I don't look past weekly charts to see the overall trend, but it doesn't give me the answer to who is determining the daily trend if you know what I mean. Who is setting the trend for the day? Who is following it? I have read the first 200 pages, and I know who the...
Actually as a retail trader you have as much information as anyone really. The chart. Also at 200 pages, and you still haven't understood what fti says about being rigid & nimble? Let me help you out though... mm does whatever. I've seen price go up one session, get destroyed the next, & vice versa. Matter of fact, I see that in a single session too. I think there should be a new rule in this thread. Don't post questions until at least 1,000 pages of reading. & at that point, you won't have any questions---assuming you stick true to the teachings and practice all along. just my 2 cents.
  • #49,059
  • Edited 10:32am Jul 27, 2014 10:21am | Edited 10:32am
Yep and after those 5 years spent reading he will know it all...Swiss how much of the thread did you read and in what time? Be honest...

Btw. as I understood FTI was talking about psychology of a traders mind, that is why he made all of you read Art of War and Book of Five rings (read it if you haven't already, an excellent book from the best dual swordsman from all times), and he was talking about riding the price and its action.

If he wrote somewhere about how he made price (like I got a call from IBM asking me this and that and because of this I gave them this price in regarding to that...etc..) and what was he thinking in those moments I must have missed that so feel free to redirect me to that post I will no object to that....also if he wrote about some of his student traders who were trading for the bank ( I know that he wrote something can't remember specifically) and what was their approach to day trading please refer me to those posts also...

Why am I closing all trades before signing off from the station..why not, and why would that be rigidity? For me it is not...for you maybe it is...the point of view is relative

When you want to learn something and you have a good source of information than you want to ask 1000 questions again and again eve though some of them were answered already as you are trying to absorb all that additional information, so don't hate me because I'm asking some questions on which you may already know the answer...kindly give it or not..it is your choice
  • #49,060
  • Jul 27, 2014 10:39am Jul 27, 2014 10:39am
Quoting merquise
Yep and after those 5 years spent reading he will know it all...Swiss how much of the thread did you read and in what time? Be honest... Btw. as I understood FTI was talking about psychology of a traders mind, that is why he made all of you read Art of War and Book of Five rings (read it if you haven't already, an excellent book from the best dual swordsman from all times), and he was talking about riding the price and its action. If he wrote somewhere about how he made price (like I got a call from IBM asking me this and that and because of this...

you trying to fly before learning how to walk?

you just came on thread recently, no? you understood mindset, mm and mo already? you able to recite first 200 pages back to front and front to back? you using the components to get consistent profit already?
THE ALL is MIND; The Universe is Mental
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