Technical Analysis Fallacy

comments?
red green yellow nice colours if you make pips.

regards

some one's nice rose.

I do have a question, if you are dancing, must you basically always be in a position? Sitting on the sidelines = opportunity cost?

Oh by the way, I trade totally naked, those are just my trades that I outlined.

not really.
if you able focus on the feel, without being involved.
me i feel things better if i involved. The key is the focus.
coffee helps me too.

ya , trading naked, i like.
but one need gets used to it.
When one internalises it, there no other way doing it.

regards.

For me, i tend to sit on the sidelines too long, waiting for confirmation if I'm not in a position. Not sure what that means.

For me, the current challenge is to learn the three kingdoms. I'm used to trading EUR/USD, have a lot of screen time with that, but JPY and GBP feel foreign to me. Furthermore, having them side by side makes me go cross eyed.

But I do get what you say, trading naked, there's no other way. Every time I draw something or add indicators, it feels like blinkers are being put on.

Is noted.
That what i trying to tell you.
if you not involved , less decisions need be made.
as nothing affects you book. so focus lacking.

Some peeps can manage many girls at same time , some cannot.
takes time and experience adapt.
If one cannot , stay with 1 until skills improves.
I managing 20+. intimate with 4 majors.

some my friends managing 100s. don't ask me, they may have super skills.


regards

Blue is my favourite colour....

Read 1st 200-ish pages - there are lots of charts showing MM examples including FTIs own examples (not a strategy nor rule)- there is no rigid answer of course it is about the feel and following the market. If it feels good with trend then press more - attack when it is easy. Read AOW.

When ready look at your trades shown on your chart if it helps for a general framework - work out where you could have added to make more money and where to scale out - look at impact of different numbers on your average price (instead of 1 1 short what about 1 1 2 what about 1 2 2 .... - BUT I think the numbers can be very dangerous if not managed and this takes time to perfect as lots of different situations - how to react in each one is what we need to learn. I am still learning but the answers (??) are in 1st 200 pages but then it is about you. I cannot remember where exactly are best chart examples so sorry about that but they are there.

You have to think of scout: give focus, benchmark for attack, can turn on wind then checker and attack troops (big guns) - do not be overexposed - there is a great deal to all this.

Good luck to you and me.

How would you go about saving these two shorts?

Also, what is meant by the term 'book'?

People. every 10 years or so , she need remarry.
Humans are a strange bunch. Every 10 years or so, she gonna need remarry.
Lets see who's going be 1st one marry flower.


http://storiesloves.blogspot.com/201...-with-him.html

regards

Cut

Sorry, can you elaborate? Cut the losses?

how heavy are those two trades? it looks like eur/usd 5mins chart. and it looks like it move only 10 pips against you, i mean if every pip is like a huge hit to your account, in that case i won't know what to do. But if not, then it's still in development?

I have a slight bullish bias with this pair, although 1hour chart show topping out you might have a chance to bail out unharmed. If not might see 1.283x. My observation, you can take it and do your own research and decide.

I'm trading demo, just FYI. Yep EUR 5 min.

As for position sizes, both of them are 0.1 lots.

The other question is, if your trades go sour, you fight to get back to break even without entering other trades on the side correct? One thing at a time?

bl

1 thingy at a time.
the trick is getting in and out smoothly.
1 thingy.
In ?? then what? wait? for what?

for me it all depends on how the market look like, the sentiment, the overall trend and where i'm at. If i'm on the wrong side then i'll try to gauge how violatile the pair i'm trading, see if my account can stomach it or not. Then go from there, if it's doesn't have a ridiculous range and recent prices shown some good swings then i might try to average it out. if i'm on the right side of the trend and just bad timing then i usually wait it out, and/or add more on retracement. I might trade more than one pair at time, one sour trade won't do much to my mini account. Except for last week when i tried to increased my lot size, but that's another story.

Love your questions - they make me think - I am still newbie but feeling the dance going well - in fact when I let go it amazes me. Yesterday short eur for small ride and long for bigger ride with d1 - only way I know it is good decision was it worked out. I do not want to be pig.

My feelings - no clue if I am right or wrong though still leaning:
- in the NOW price is moving long - why you feeling short - you are fighting market as you have convinced yourself it is short (I think - sorry I know that probably does not help and I do it too)
- look at what happened to sitting ducks in both directions when swings highs/lows taken out as up move started - did you really feel the down PB had strength in it - small wispy moves look at the candles sometimes 4/5 bear looking candles could not take out 1 bull candle when you entered short maybe on single candle - are you trying to ride every wave (I thought this on your last chart posted - very dangerous imo)
- look at strength of moves long and strength of moves short when down trend broken - where is strength - how far did the candles travel in each direction & how many candles in each direction so where is strength - fewer candles in the long move in duck hunt than the down duck hunt yet the long went further had more strength
- BTW you had great long opportunities here to turn loss into in the money
- scout mode-- I think you said before you only take 1 trade at a time so in scout mode turn on wind long (look at the swing lows for entries) =in the money
- 2 scouts or scout + checker?== turn on wind only bit stronger - you cannot have lost that much when it should have been clear it was long in swing lows - so be ready to adapt your strategy to what market does not what you want
- If you had lots in here ie big guns (tho cannot see why you would do that as all needs to be in the money(scout(s) (+ checker) in profit) before big guns in) and down moves have no strength at all= BUT you can either close some or all and take loss or try and rescue more recent entries but as a newbie do not think you or I should do that as against up move. Think if you really wanted to go for such a rescue - can only see 2 options very very fast short rescue in/out needs lots of troops at risk OR go the other way early on in up move with bigger numbers (if had BIG guns out not sure that would be possible re cap. and have to have strategy re risk being too much ie dead in water - also when turning do not do that too late)
- Think you need to look at what swings are doing in the NOW and do not fight that.

I am not very experienced yet at rescue at all and so my thoughts could be wrong from FTI point of view- just my thoughts.
Sorry if I am not being helpful but thanks for the chart and questions - I have same questions as you and no clue about right or wrong trying to learn what to do if A happens or B happens or C??

FTI will correct me I am sure if wrong.

Oh - look at higher time frame ie m15/h1 for rescue - not clear on this yet

So true - but I am not sure about getting out - if I go on feel I end out too soon but as long as in the money maybe that is ok - still think I am too timid sometimes - so much more to learn still - what are candles telling me - what are swings telling me - patterns in play - who will tell me??

I'm pretty sure the up trend is over, beware.

So you have crystal ball then?

Sorry not to be rude - no-one really knows. It may or may not.