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Technical Analysis Fallacy

  • #53,281
  • Dec 15, 2015 8:08am Dec 15, 2015 8:08am
Quoting s189145
ky book what is it?
hi,

oh the ky book. there is both nothing much there and a lot there, depends on your experience in life. may i ask you to intro yourself pls?
THE ALL is MIND; The Universe is Mental
  • #53,282
  • Dec 15, 2015 9:59am Dec 15, 2015 9:59am
Hi.
It is hard question to ask. I am just like most of people here nobody really. Read a thread from the start to at least 300+ pages 3 times. Tunnel book most would say that nothing was in there so i want to be HIM

Somebody said that it couldn’t be done
But he with a chuckle replied
That “maybe it couldn’t,” but he would be one
Who wouldn’t say so till he’d tried.
So he buckled right in with the trace of a grin
On his face. If he worried he hid it.
He started to sing as he tackled the thing
That couldn’t be done, and he did it!

Somebody scoffed: “Oh, you’ll never do that;
At least no one ever has done it;”
But he took off his coat and he took off his hat
And the first thing we knew he’d begun it.
With a lift of his chin and a bit of a grin,
Without any doubting or quiddit,
He started to sing as he tackled the thing
That couldn’t be done, and he did it.

There are thousands to tell you it cannot be done,
There are thousands to prophesy failure,
There are thousands to point out to you one by one,
The dangers that wait to assail you.
But just buckle in with a bit of a grin,
Just take off your coat and go to it;
Just start in to sing as you tackle the thing
That “cannot be done,” and you’ll do it.

If you need more information on ask detail question and i would answer them all
  • #53,283
  • Dec 15, 2015 8:44pm Dec 15, 2015 8:44pm
Quoting s189145
Hi. It is hard question to ask. I am just like most of people here nobody really. Read a thread from the start to at least 300+ pages 3 times. Tunnel book most would say that nothing was in there so i want to be HIM Somebody said that it couldnt be done But he with a chuckle replied That maybe it couldnt, but he would be one Who wouldnt say so till hed tried. So he buckled right in with the trace of a grin On his face. If he worried he hid it. He started to sing as he tackled the thing That couldnt be done, and he did it! Somebody scoffed: Oh,...

this is the ky book -> http://www.kybalion.org/
THE ALL is MIND; The Universe is Mental
  • #53,284
  • Dec 16, 2015 7:40am Dec 16, 2015 7:40am
THANK YOU
  • #53,285
  • Dec 16, 2015 8:35am Dec 16, 2015 8:35am
Hi everybody,,,long time
how is fti?
Learning is a Journey Not a Destination
  • #53,286
  • Dec 16, 2015 9:29pm Dec 16, 2015 9:29pm
Let me quickly add one fallacy as regards technical analysis that most traders fall victim to especially our new traders in the forex. Many new traders feel the more complicated a trading strategy is what makes it more effective. So when they see strategies like the complex combination of RSI, ADX and Bollinger Bands, they feel it should work more for them even if they don't understand it. The fallacy here is that it is not by the level of how difficult a strategy that makes it work it is by how well you understand it. So if it is simple price action you understand as a trader, use it with proper risk management and not some big systems you probably don't understand.
  • #53,287
  • Dec 17, 2015 3:12pm Dec 17, 2015 3:12pm
Quoting TheQuant
Hi. I'm somewhat new to trading forex spot but have traded other markets for quite a long time. I decided to add forex to my strategy is largely a matter of number of occurrences. What kept me away for so long was less the market and more a matter of the culture. I noticed that in most forex related forums, the use of "technical analysis" was prevalent if not singular. This led me to forgo researching opportunities. Eventually I took some time to look at some data myself. I found it to be tradeable and hence started to go at it. I was wondering...
Hi TheQuant,

I have read your first few posts on FF with great interest. I am interested to hear more. Couple of questions:

I'm wondering, if you want to share, what these data is that you researched that has set you to look for opportunities in trading forex? When do you consider a certain instrument / assetclass tradable? You stated that you believe in the weak form EMH so I assume that you look at statistical data to find proof of "inefficiencies" to exploit? How does one start researching this?

Regarding your statement: "Why people still believe technical analysis has merit beyond an engagement tool?" - Could you explain a bit more? What exactly do you mean with engagement tool?

Lastly, (related to my first question) Could you talk a bit more about "structural aspects such as correlation or cointegration"? Is this what you are looking for as exploitable inefficiencies? Do you have some insight in how institutionals approach these currency markets perhaps?

Best,
  • #53,288
  • Dec 17, 2015 5:03pm Dec 17, 2015 5:03pm
Quoting tibovwh
{quote} Hi TheQuant, I have read your first few posts on FF with great interest. I am interested to hear more. Couple of questions: I'm wondering, if you want to share, what these data is that you researched that has set you to look for opportunities in trading forex? When do you consider a certain instrument / assetclass tradable? You stated that you believe in the weak form EMH so I assume that you look at statistical data to find proof of "inefficiencies" to exploit? How does one start researching this? Regarding your statement: "Why[/highlight]...

i think i can answer this, engagement tool meaning TA is = a knife/gun/weapon. Whether you able to successfully kill your prey depends on your internalized skills - your aim, your breathing, your patience, are you in the right hunting ground, season, your flexibility, how well you able to use your weapon.

but the problem with many peeps is that they THINK TA = prediction tool, they THINK what they see/read must happen. so what they THINK is that if they have a knife/gun/weapon = they will confirm 100% be able to kill a prey and bring food home. you see the problem?
THE ALL is MIND; The Universe is Mental
  • #53,289
  • Dec 17, 2015 7:21pm Dec 17, 2015 7:21pm
Quoting Jacque
{quote} i think i can answer this, engagement tool meaning TA is = a knife/gun/weapon. Whether you able to successfully kill your prey depends on your internalized skills - your aim, your breathing, your patience, are you in the right hunting ground, season, your flexibility, how well you able to use your weapon. but the problem with many peeps is that they THINK TA = prediction tool, they THINK what they see/read must happen. so what they THINK is that if they have a knife/gun/weapon = they will confirm 100% be able to kill a prey and bring food...
the best describe
we don't predict, we only ride
  • #53,290
  • Dec 17, 2015 7:47pm Dec 17, 2015 7:47pm
NO HOLY GRAIL. Brutal truth.

Only a step by step way of lookin and engaging the markets that can get you 80% accuracy on your trading results. Plenty enough to grow your account if you ask me.

Either that, or something else that you may use. The truth is, this is a game for the big boys and we can be absolutely sure there is a way to play it.

PATIENCE. DISCIPLINE. HARD WORK & A NICE SET OF BALLS IS THE GRAIL WE SHOULD ALL AIM FOR.

My two cents.

Best to all.
  • #53,291
  • Dec 18, 2015 4:29pm Dec 18, 2015 4:29pm
Merry Christmas everyone. Tis' been awhile, hope everyone (FTI) is doing well.

Regards,
  • #53,292
  • Dec 18, 2015 5:57pm Dec 18, 2015 5:57pm
Quoting auxesis
Merry Christmas everyone. Tis' been awhile, hope everyone (FTI) is doing well. Regards,
Hi Aussies, Merry Christmas. Been a long time, hope you are well.
  • #53,293
  • Dec 20, 2015 11:07pm Dec 20, 2015 11:07pm
Hello One & All. I'd just like to take a moment to make myself my known. I've been reading through this thread at a steady pace for the last few weeks and I've just hit reply #1500. Although I'm a good few years late to the FTI party I'd like to express my gratitude and thanks to FTI and those involved in heavy debate at the beginnings of this thread. I've learned so much in a relatively short time and my confidence is returning (checking my ego on a regular basis...) after destroying 2 live accounts in the past. I'm looking forward to continuing with FTI's teachings (and the ensuing debate) and meeting you all as I get closer to the top.

In the words of FTI:

regards
Focus.
  • #53,294
  • Dec 21, 2015 5:01am Dec 21, 2015 5:01am
Quoting Marco-Kanto
Hello One & All. I'd just like to take a moment to make myself my known. I've been reading through this thread at a steady pace for the last few weeks and I've just hit reply #1500. Although I'm a good few years late to the FTI party I'd like to express my gratitude and thanks to FTI and those involved in heavy debate at the beginnings of this thread. I've learned so much in a relatively short time and my confidence is returning (checking my ego on a regular basis...) after destroying 2 live accounts in the past. I'm looking forward to continuing...
hi marco, welcome
THE ALL is MIND; The Universe is Mental
  • #53,295
  • Dec 22, 2015 1:54am Dec 22, 2015 1:54am
Quoting Northpro
{quote} This is a great read, thanks fti...on my second reading now. NP
Hi All. Does anyone have a copy of the reading material NorthPro is referencing in the above quote? The original post (from FTI) has since been deleted.

Thanks in advance.
Focus.
  • #53,296
  • Dec 22, 2015 3:18am Dec 22, 2015 3:18am
Quoting Marco-Kanto
{quote} Hi All. Does anyone have a copy of the reading material NorthPro is referencing in the above quote? The original post (from FTI) has since been deleted. Thanks in advance.
Hi, its tunnel through the air, if I remember coreectly., either that or its reminiscence of a stock operator
2 legends have been discussed here in the form of books, wd gann and Jesse livermore
  • #53,297
  • Dec 22, 2015 4:50am Dec 22, 2015 4:50am
Quoting CookieMonsta
{quote} Hi, its tunnel through the air, if I remember coreectly., either that or its reminiscence of a stock operator 2 legends have been discussed here in the form of books, wd gann and Jesse livermore
its tunnel thru the air
THE ALL is MIND; The Universe is Mental
  • #53,298
  • Dec 22, 2015 4:56am Dec 22, 2015 4:56am
Quoting Jacque
{quote} its tunnel thru the air
Hi Jacque, ah, ok, thx for the correction.
  • #53,299
  • Dec 22, 2015 7:03am Dec 22, 2015 7:03am
what is that ?
What FTI would say about this ?

http://www.forexfactory.com/showthread.php?t=565863
  • #53,300
  • Dec 22, 2015 3:56pm Dec 22, 2015 3:56pm
Quoting Jacque
{quote} its tunnel thru the air
Thanks Guys.
Focus.
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