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Technical Analysis Fallacy

  • #56,121
  • Oct 11, 2016 4:11am Oct 11, 2016 4:11am
hey fti, whats your opinion of richard dennis's trading style?

today i was reading a book on richard dennis, and a thought came up in my mind, the difference between richard dennis and gann.
  • #56,122
  • Oct 11, 2016 4:26am Oct 11, 2016 4:26am
Quoting fti
{quote} ya hahahahahahaha did you see the one that got away? regards

Hi fti

Hahaha.... as you say sometimes i need a bigger boat..

regards

Phil.

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-be careful about what you allow to be put in your mind-
  • #56,123
  • Edited 9:24am Oct 11, 2016 8:53am | Edited 9:24am
Quoting CookieMonsta
{quote} if you are dealer, how would you trade against yourself and take your stoploss out? if everyone looking at indicators all place their stops there, what information would it present for market maker who either want to open more position or square down? the support and resistance usually has alot of stops gathering there because many people love to put their stops there, so if market makers go to those levels, how can you capitalize on market maker's stop sweeps to get into good positions?
@CookieMonsta, yep, that's exactly what I'm thinking now, that was the missing piece of the puzzle that FTI so generously gave us
  • #56,124
  • Oct 11, 2016 9:02am Oct 11, 2016 9:02am
Quoting phil13
use the scouts to heighten your feel of the situation and most importantly LISTEN to what they are telling you, scouts are expendable and will keep you from making big mistakes if you learn to use the information they provide and avoid risky events..... do not tolerate loss. from fti post in beginning of thread.... The concept is as the following table % Loss intial capital % profit required to Recover 5----------------------5.3 10----------------------11.1 15----------------------17.6 20-----------------------25 25----------------------33.3 30----------------------42.9...
Yep, I've seen that table already, makes total sense to me.
Love the "happy trading" picture

Regards and many pips!
  • #56,125
  • Oct 11, 2016 9:09am Oct 11, 2016 9:09am
Quoting Exnav
{quote} Hello Agent! Then Welcome to FTI Thread! I am as well a new here being en route to apply the Wisdom. I presume it would take quite a long path to implement the 3 Pillars my own way. So far from the very beginning my Tuition Fee (money lost in/to Forex) has been about 1.8 K Euro (it is a lot but training is never cheap and there is no shortcut) with max drawdown 12% of a Deposit (not of Cap allocated). Whoever I have in person met trading Forex spot lost 3 K USD (15 - 20 K Average) minimum, only one of them quit completely with 5M donated...
Yes, I look at my losses as a tuition fee, and for me there is no reason to open $5k account if I can open $500, it's all the same in FX, as long as I can make consistent profits in $500 account - I can gradually step it up. Well I may need a bit more to go completely stop-loss-less, but the idea it the same
As long as I learn the dance - I will be able to dance with any partner, right?

Happy trading!
  • #56,126
  • Oct 11, 2016 9:42am Oct 11, 2016 9:42am
Quoting agent005
{quote} Yes, I look at my losses as a tuition fee, and for me there is no reason to open $5k account if I can open $500, it's all the same in FX, as long as I can make consistent profits in $500 account - I can gradually step it up. Well I may need a bit more to go completely stop-loss-less, but the idea it the same As long as I learn the dance - I will be able to dance with any partner, right? Happy trading!
Hello Agent!

If I may, I would advise to start learning the dance on Demo the way FTI presented. Once successful in dancing and managing both atacks and rescues on Demo, should it be USD 500 live, then it better to go with Scout less than 0.01 (1 K USD). However, when skilled, experienced and prudent, it might be enough. You see, your Scout would already be leveraged and you have only 25 Scout size units - troops. As far as I remember, FTI does not recommend leverage more than 7 or 10. E.g., I need at least 45 units for moderate response when required. I think that those who advance and attack more than 1, 1, 1, they need more than 100 units. Anyway, you should consider your Live USD 500 very seriously so not to lose the funds and increse it cautiously step by step. Regarding the Partners, IMHO some of them might be too volatile for positions with leverage more than 50 (figures, news, manipulations with no news, just deceptive spikes).

I presume our more FTI style experienced colleagues would share their view on the point as well.

I finished today's trading (all squared) and wish a nice evening!

Best regards, Exnav
Not to Advance is to Fall Back
  • #56,127
  • Edited 10:03am Oct 11, 2016 9:43am | Edited 10:03am
Quoting agent005
{quote} @CookieMonsta, yep, that's exactly what I'm thinking now, that was the missing piece of the puzzle that FTI so generously gave us
theres more, once you sharpen your dancing skills and feel of market and ro3k and can dance multiple pairs, theres alot more that can be done and used, like rotating the currency pairs to spread out the particular currency's impulse against you to minimise book exposure from the point you are able to detect counter impulse, then you have 2 pairs now, 1 with impulse, 1 with counter impulse, then dancing them should allow you to attack into 1 which is profitable now and making money, while the one with counter impulse, you let it go, then slowly rescue it, using 2 major and their 1 cross. this is an alternative to flipping if the current pair you trading is possibly in a correction, and you still see possibility to rescue it, and can help to keep p&l loss low while the move is pushing against you. this spreading can best handle situations like the broadening assassin formation and counter impulse that leads to reversals, since the counter impulse that leads to reversals usually does not allow you to rescue, and cutting losses is only option, but your previous rotated pair helps you to cut loss because you already taken profits from it. the key to handling and deciding how to spread, is to feel for the volatility, looking at which currency is the cause and might be good to spread out to achieve a certain goal, and adjusting the spread, and looking at how the resultant pair's direction, like is the spread working out or in-effective, i.e. dancing 2 pairs at the same time, or change the rotation nature, which is to leg in and leg out.

but all these require that your core basics must be strong, i.e. feel and dance for 1 pair

It's all presented here in this thread
  • #56,128
  • Oct 11, 2016 10:08am Oct 11, 2016 10:08am
@Exnav - point taken, will go to demo, it's better to learn to dance in dance studio and not at the dance competition I didn't like demo last time I tried it but I think I may be able to control my trading better this time around.

@CookieMonsta - thanks for the insights, I just finished reading AOW and will continue reading the thread, still much to learn before I can go into the battles...
  • #56,129
  • Edited 12:47pm Oct 11, 2016 12:31pm | Edited 12:47pm
Quoting CookieMonsta
hey fti, whats your opinion of richard dennis's trading style? today i was reading a book on richard dennis, and a thought came up in my mind, the difference between richard dennis and gann.
dochanian trader. big man with many turtles.
:don't know: i never knew them well enough to know their differences.
why?
you marrying em styles?

regards

compare?
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  • #56,130
  • Edited 1:26pm Oct 11, 2016 12:49pm | Edited 1:26pm
Quoting phil13
{quote} Hi fti Hahaha.... as you say sometimes i need a bigger boat.. regards Phil. {image}

hahahaha omg.
eeeeer how about we go smaller pond?



regards

okok but who is going carry the loot?
eeeer assemble the loot details squad.

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  • #56,131
  • Oct 11, 2016 3:39pm Oct 11, 2016 3:39pm
Hi fti

ah my friend is the month of beerfest.... my loot squad...

regards

Phil.

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-be careful about what you allow to be put in your mind-
  • #56,132
  • Oct 11, 2016 5:44pm Oct 11, 2016 5:44pm
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  • #56,133
  • Edited 7:00pm Oct 11, 2016 6:23pm | Edited 7:00pm
Quoting fti
{quote} dochanian trader. big man with many turtles. :don't know: i never knew them well enough to know their differences. why? you marrying em styles? regards compare? https://www.youtube.com/watch?v=dU6w0ZdOOYQ
Yep, was trying to see if there's a way to marry gann's nimbleness to Richard Dennis style of going for huge winners. Sort of a very discretionary version of turtle trading.

But then after thinking about it, I think their mo may not marry well with each other, gann's high percentage winner can only come from the nimbleness, so it by that nature means gann will not hold till the end unless the trend looks good and impulsive enough.

I guess the major difference is gann is more discretionary, while Richard Dennis is more analytical and quantitative.
  • #56,134
  • Edited 11:15pm Oct 11, 2016 8:29pm | Edited 11:15pm
Quoting phil13
Hi fti ah my friend is the month of beerfest.... my loot squad... regards Phil. {image} {image} {image}
Hi guys,
any room for me? count me in!


rgds

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Fall in love with the process, and the outcome takes care of itself.
  • #56,135
  • Edited 11:47pm Oct 11, 2016 11:08pm | Edited 11:47pm
Quoting phil13
Hi fti ah my friend is the month of beerfest.... my loot squad... regards Phil. {image} {image} {image}
ahhh yes .
Thank You , This year i cannot fill my bladder.
But we can enjoy the sausages , sour croutch and flying chicken.

Bottoms up.kisss me eeee bread?


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regards
  • #56,136
  • Oct 11, 2016 11:16pm Oct 11, 2016 11:16pm
Quoting fti
{quote} ahhh yes . Thank You , This year i cannot fill my bladder. But we can enjoy the sausages , sour croutch and flying chicken. Bottoms up. https://www.youtube.com/watch?v=QTgkF84b2Is regards

i found 1x sausages and 2x px whiskey for supper is v good combination when working late.
eespecially with the invention of air fryer, so many new possibilities

rgds

r you feeling better my friend, any more cold sweat??
Fall in love with the process, and the outcome takes care of itself.
  • #56,137
  • Edited Oct 12, 2016 12:05am Oct 11, 2016 11:53pm | Edited Oct 12, 2016 12:05am
Quoting RelaxRay
{quote} i found 1x sausages and 2x px whiskey for supper is v good combination when working late. eespecially with the invention of air fryer, so many new possibilities rgds r you feeling better my friend, any more cold sweat??
eeeeeeer of course cold sweat.
just thinking the rides already cold sweat.

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regards
  • #56,138
  • Edited 2:28am Oct 12, 2016 12:57am | Edited 2:28am
Quoting fti
{quote} eeeeeeer of course cold sweat. just thinking the rides already cold sweat. https://www.youtube.com/watch?v=owOcSAIfxCU regards
okok.. you take care

camping vid.. hope can provide some sweat relief.
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rgds

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Fall in love with the process, and the outcome takes care of itself.
  • #56,139
  • Edited 2:14am Oct 12, 2016 2:03am | Edited 2:14am
Quoting RelaxRay
{quote} Hi guys, any room for me? count me in! rgds https://www.youtube.com/watch?time_c...&v=6G7wozF3eok
ya ya okok, but whose fault is these?

ai ya unshaven woMEN?
no free beers.
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  • #56,140
  • Oct 12, 2016 2:21am Oct 12, 2016 2:21am
yehhhhhhhh free beers.

eeeeer only for those who brought their brokers. hor

my broker begging ,
"pls take me out. my card overspilling. If u don't spend it, they will sack me."
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