Thanks for the welcome,
Its nice to be home.
am exhausted at mom,
will be ON once I rested.
should be very rusty, so will appreciate some help to get back on the ball.
Have you all been having a ball?
will chatty tom. c u
Thanks for all the nice welcomes.
Sorry that I am not into battle gear yet.
The energies are down + Two of my computers are experiencing problems.
So what I am doing is getting evryting into shape.
I will be ready by monday in battlestations. For now clearing the travel dust. Cu monday.
regards
@Gro , dangerous , reread about Money management, never risk more that 10% loss on single adventure. Try stay below 2% or best never more than 3X your average daily profitability. I think you missed some very important pieces from the thread.
If you do then your learning curve becomes steeper and expensive.
Just got back from shopping spree.
And the systems are up and being tested.
I am sorry that I will not be in the markets yet.
Some of you may remember if you had read the thread and remembered 5 th June is my wedding anniversary and both my sons birthday. So I had slotted a big dinner & program for today, will be leaving after this post.
I had always worried about some of you not understanding MM in detail. If you search the thread you will come accross my discussion on this topic , it is critical for your financial health.
Geneerally, your base of the skews should be 1/100 of your portfolio. The skew of the spiral within the spiral is a fibo progression at the most conservative. Please read that very carefully and throughly understand it before any real money is put on the table. Your performance will be dependent on what the markets will give. And your ability to be disciplined in you risk approach. The mindset robustness is dependent on your practise and market accrument. Experience and a conservative careful initial approach affords you leeway for errs in your learning curve.
There are much lessons,that the markets will teach you handson, esp your weakness in mindset and chracter weaknesses.(personality scorpions). I had tried to present the obvious ones esp ego and "predictive" traps that will reside in the emotional side of your endevour. There are more, but mastering the basics is the key to understanding "self" and the pitfall traps that awaits to spring on traders.
I will probably be online tom, to help you with your questions, if suits.
Meanwhile trade cautiously. Rome was not built in a day, neither was it built with haste. But it was destroyed in a flash, so can you financial well being. Remember the markets are battleground, do not enter carelessly.
Congratulations on your wedding anniversary fti, and best birthday wishes to your sons.
Triple blessing day, not witching day
best regards
Thanks DutchAngel,
You are right, much blessings on this date.
Thanks for your kind wishes.
While I was away, earlier, I was kinda delayed in returning.
"Micky Mouse" my jovial grandfather, on my mother's side, he passed on. Kicked the bucket on the 25th May, he was 98 years old and due to chinese custom of adding one year for heaven and one for earth and one for himself , he finished at 101 years on record. He set a benchmark difficult for me to and many in the family to try to beat.
Much good memories of him , and is sadly missed and fondly remembered.
For the last 2 weeks we had been having a party to celebrate his life.
regards
PS: By the way, he smokes too.
He was also the milestone of the passing of the his generation.
Sorry to hear about your grandfather, and agree that he has set a high benchmark. I am so happy to hear that the family has been celebrating his life, one which I believe deserves celebration!
On the market front, I have heard rumours that NFP result was erroneous and could be revised. If this happens market would be hugely volatile, so all dancers should remain nimble.
kind regards
Hi DutchAngel,
I see,so basically, market believes that there is data massaging, and is voting with their feets (running away). Yes nimble book managing is always signs of good traders.
Any signs of CB or their proxies in the markets. With the exception of a spike reversal, the short charts seemed to have had steady trendy bull bear moves. Good $$$ opportunities, volatility seems trendy too. How was liquidity?
My condolence...even though you were parting...
(is that a Chineese thing, or a celebration for a long long life?)
It seems that the market will be seeing you for many more years.
CU
Hi Lusan,
Yeah Chinese thingy, Passings of 80+ is designated with blue lanterns which mean good life. Micky was at red, which is for the chinese auspicious. The norm is white.
Yeah, God willing, I will be around for some time. For me its second wind.
If micky is benchmark, I am only half way there yet. May even have a longer career journey on the second wind then the first.
Hi All,
I am a little suspicious of the Usd weakness for the pass hour. Being rusty, but will read bias USD bull still. Wonder if the bull has lost steam. Will try some small usd buying with a scout to get feel.Lets see if he can survive.
Scout awaiting deployment, waiting for after lunch action.
Anyone still babysitting?
Still wating for some headroom.
Seems deep now. Remember mua, very rusty, so I am very small and nimble.
and don't let the bias get in your way, if proven wrong.
I am squared with good return today. E/U is 4010, I want to short again , , but it is weekend, I am worried that volitility will be small and may forec me carry over to next week.
Btw, congradulations that your grandpa lived 98 years old.
Hi David,
Good returns is good .
Don't have to force it, Over-weekend positions is unhealthy. esp for now. I am just trying to get back on the feel, so please do not follow. You know whats good for you, stay with it. How's you book so far? In the ++ I believe, yes?
After many losses and tries. It is OK now. This month until now, increased 20%. Made big mistakes last friday, and this monday. The E/U and G/U's trend was so strong.
I made a mistake today also. I closed all @4100 with 100 pips, thinking e/u may touch 4150 again, and I would have a strong attack. But never got a chance to buy back.
its ok David, A profit's a profit, but don't over analyse and paralyse your nimbleness. I hope much opportunities next week, there's always tom)next week). Be careful of the crystal balls, you should be able to feel the market better with out it.
Hi Fti,
I am still babysitting. Short on the EUR/USD. The main army is out after a good day. It is still making good moves down to the 1.4000 level.
Regards Ray
Ah, good for you,Ray.
14000 is should be well tested, don't expect too much.
but again who knows.
Your callsign seems new, joined recently?
have you internalised the thread?
According to my platform, at least 3 layers of stop loss were triggered.
And it reported that reserve managers were also selling, some big money(fund) were turning down E/U from 4250. Who are reserve managers? From CBs?
Well, I missed a chance of 20 pips.
Hi David,
You mean they are watching foreign currencies reserves managers activity and reporting so promptly. Wow, in-roads to the big boys. Yes I think yjeu mau be talking about them. Be care ful and brace yourself for a ride. Be careful DO NOT CARRY OVERNIGHTs, will be whippy.
Take you profits and go enjoy the weekend.
Just for info, For me today no attacks , no rescues, just trying out the feel and form. Engine not running, just clowning around the market place for feel.
Dear fti, thank you once again and congrats on your wedding anniversary.
Throughout the thread, you emphasis on "feeling" the trend, "pulsing" the market, and "dancing" with price.
You also mentioned the foundational need of knowing price action, ie chart patterns etc. (of course not making assumptions)
Arggg, I dont know how to ask you this, basically your analogy of "dancing" does not neccassary refer to textbook theory of PA and chart pattern right ? Its that the pip movement feel so intuitive right that you make a probe bet...
Hi aiyahmarklah,
You are technically correct.
Analysis skills is an advantage that is accorded a nimble trader who can feel the flow of the market. Of course if you had privy to orders flow it will clear up lots of analysis uncertainties.
Only that Technical analysis is helpful to a trader who can analyse the flow independent of the ego blinding that affects many traders.You may want to use the Techs, esp the MAs to help guide you into the flow of the markets, but only as guide, if you are a novice at the markets. A trader will have to be able to from form feel the market , to determine if the risk flow is in tune to whats happening in realtime. Otherwise its all only illusional esp to traders that have the ego scorpions.
Overtime you will find that this "feel" and dance skills take predominance in your trade vis a vis technicals as you would be more in the market than trading on expectations. As you gain more trade experience, many of us will drop that expectations and trade in tune to flow , which would enhance your P&L tremendously.
Generally skill sets have a rigidity to its capabilities , while ability to dance the flow is very dynamic in its ability to strategise and atune to the markets gyrations.
Chart patterns can mutate over time, and without the ability to manual override it would normally put traders into the "hope" mindset which can prove very dangerous to the book's health.
I am not really against most form of Technical Analysis except for when they are used in a "predictive" manner.
or used as mechanical triggers. These are the worst manners in which to navigate a live and dynamic market.
this is exactly what i was asking myself and just started to look at the chart. entering a scout at higher TF. trend. my best feel for the price comes after modest decline then i am making the best trades. when i am up i am not so sharp, even lazy. when i am down much i do not believe a opportunity when i see it.
i think the idea is to get your mind in the zone of my modest loss... not lazy or scared but focussed.... i am working on this and it should improve my dancing....
i cannot realy say what i see on the chart but i see things i saw...
Hi j-pax,
This is the basic mindset that you must develop. But you must no forget about proper MM. Without which you may find that during some market variances you may not have the necessary resources to operate the mindset and or reaches and over extended your risk tolerance, therby putting you in stunt territories where you thinking and abilityto strategise is impaired. It takes only ONE such incident and your book may be killed.Believe me that there are many variance that the market will throw at you in your trading lifetime. The key is to make tolerance to overcome ALL that can put your book to the grind.
Inexperienced and greedy traders normally fall in such variance test. (which is the second reason , why most cannot survive the book).It doesn't matter if you can survive 100s of these, fail one and the book could be finished.
That is why experienced traders alway say to "trade what you can afford to lose" Many traders fail there because the focus is on the profits and they forget the risk. ( This is esp so for geared trades, ie leveraged accounts).There is much advice everywhere about limiting losses by stops. For me if a trader resorted to such, basically I think they are already gambling. But for novice traders, that is not too bad the idea that the losses may have a floor, only that if this was internalised, said traders will never truly learn to manage risk. Not in the real sense. I stress that stops do not always allow traders to exit positions gracefully, esp in fast market scenarios.
Just a reminder that just because he smokes and live a long life doesn't mean you should continue. My dad passed on last month and he is only 72. Died of stroke because of smoking. Tomorrow is his 49 days.
[left]Many wins created CERTAINTY.
CERTAINTY in the markets is very dangerous ... creates ARROGANCE to markets(I wrote about it but I was not observant my Skorpion =
[left]"I am the king of the market").
"Scorpion got into the wild river and paralyzed me" ... my CERTAINTY
[left]-the first error, the second error, the third error etc. = DISORIENTATION,PARALYZED,DEFEATED IN MY MIND ... Why?
"more success forms bigger scorpions"- greater than my mindset.
[left]Hard lessons for me but I am...
Hi Gro,
Yes, perhaps the metamorphosis will be complete, if you focus your discipline at it and slowly allow the it to internalise into "you". The butterfly will be a certainty,from the little worm. If you allows it.
regards
Ps: As for me, Today I stand and fight the battles of the lady again. I'm Back in town, For a Few Dollars More
Well i am the lowest per day guy avg here... i jsut made .15% not even 1%
I guess need some lessons on increasing scout size.... my winning are consistent the problem is the % size..
Must get some lessons from FTI...
V
Hi indianguyinny24,
A profit 's a Profit.
Never complain if yu are making money, only if you lose.
If you are consistently making money, You are already there. Risk reward ratio is always at play.
Consider the alternative.
OK,I am following you. closed short E/U, long scout in.
EEEeee David,
I am selling Eur ,
I always talk from USD perspective, unless I am quoting positions.
BECAREFUL
regards
Anyways I am still Squared.
The London Boys are not in yet, don't feel their presence.
Or either that Dusseldorf & fft boys doesn't know what to do. That is from the paper orders perspective. Now polishing the gum, and patiently waiting.
But, my talking way is consistent with the chart and easier.
Hi David ,
One more time only.
I AM BUYING USD , selling EUR bias.
Scalped something earlier.
Now squared and waiting.
Trend is clearly USD buying, But is deep and in disrtibution now.
Waiting to see how strong the retracement can be, then just follow the flow.
So sorry to you.
What made you think I was selling USD?
position scout S x eurusd x13921
not attacked yet, I'm a little rusty still.
Try to feel the flow, by yourself , pls do not follow anyone, even me. I am showing you my blotter, just to help you think of how my feel is, It is important thst you depend on your own feel.
u mentioned that when u were in the bank , each of ur boy has their own specified timezone , does that mean ur department trade around the clock ?
does that apply to all banks currency departments ?
Hi maheswara,
All the dealing rooms , I managed were on 24hrs/5days.
No, not all banks are 24/5.
Most tier 1 were, some tier 2 kept skeleton dealing desk open, tier 3 are normally not, depending on the treasury manager and the helath of his books.
dear fti you squared at this price, is it because the coming figs release ? or is there something I didnt see ?
Hi aiyahmarklah,
It is because I am just back and am a little cautious, as well as trying to build a little foreign capital first.Like I said I am a little rusty after a long holiday,and very careful while rebuilding book profitability.
I probably will be moreaggressive when the foreign cap builds up.
noted ,thank you, was hold a similar position, when i saw u squaring, got worried for a while.
I haven't got good feel of the market yet. So doing no attacks and rescues yet. If you got good feel and book like maheswara ,pls carry on with your form.
For me I am not ready in full battlestations yet, so will take some time to get into the loop of things.
The cable is now trying to find the stamina to try but seems the yen is holding everyone up. So watch that yen careful.
off topic a little, in one of your earlier post you mentioned some names that you have play against during your dealing days. One of them is S.Sim (UBS), is he the person who wrote a book on STI sometime back ?
Hi aiyahmarklah,
Yeah I did put some names on the chopping board earlier. Some of them are no longer around, but they are mostly very skillful dealers.
Did S Sim write a book, if he did , is he any good? Being retired and off the inner circles, I am not active socially. So I will not be a good source of info. Mostly my info would tend to be a little "dinosaurous", except in the flock I am still running with.
Dear Fti,
I've been your follower since 6 months ago and being greatly benefited from your teaching. Due to my poor English skill, I'm learning slowly and silently.
I'm so happy seeing your return! I'm also happy that I finally have a chance to say thanks to you! Thanks for everything!
( Frustrating-- I feel so much grateful at heart but my words are limited though I'm cultured in my own language. )
Hi imjscn,
No worries my friend.
Nothing is expected from anyone here.
If you can learn and benefit from the thread.
The reward is to your empathy and willingness to study.
However if you do make tons of $$ , do help some needy souls whom you may have access to anonymously, maybe that will put your frustrations to rest.
Thanks for your kind words.
Do voice out if you have any question or comments. We will try to understand and respond, irregardless the language barrier.
Good Fortune.
regards
PS Look at Gro,
He's reading and responding by google translate, and thats hard work. for initiative.
Didn't know that he's gone over to the equity arena from the forex. Was wondering where he disappeared to.
Still on his crystal balling,
maybe its a stint to make himself on the celebrity list.
However, Good luck to him.
but this Simon person not bad , sti reached 3900 in 2008...
Sir u shld write a book too
taf thread is enough material to make a great trading book ...
although I doubt people will buy it , most just wants crystal ball book
Hi maheswara,
I had, it is known as "ForexAngel".
It is not published, but a trade training manual.
You had been reading excerpts from it here.
I am very wary that fame would rob me of my fortune.
Mindset is very important to me.
haha so you do know him eh ? Ok lah his book not bad, mostly about cycles.
He was pretty close in his call to 4300 level....
OK, accepted.
Cycles are ok esp the 7 year itch and Kondratieff Wave.If you dig its studies.
But the trading still required strategic maneuvering,no? Timing is important.
Sad that , i can't wait 7 years for something to materialise.
If you get the chance, ask him about the calls that didn't "come in".
oh wow ,
must be a really great book... the excerpts alone are so deep and thoughtful...
maheswara, except for the Blitzkrieg sequense, most of it had been presented here, one way or another. There's some wisdoms added by some of you here as well.
, No pun intended.
SS is a good man. I don't think he is showing his golden eggs goose,to the public, yet.
I think William C may have a more level head on his shoulders.Nevertheless, To each his own
By the time he does or anybody do, the goose usually too old already.
Like trend trading systems in the 70s and 80s.
Can I ask, strictly no cross pairs allowed to be dicussed here ?
its not that.
Just that cross pairs are subsets of the majors and its spreads makes them secondary for focus. For me , it serves little purpose for trading it.(due to spreads and compounded volatility due to illiquidity).
Why drive race cars into town, moreover if driving them entails higher handling risk without ability to profit from the activity?
Crosses can be extremely profitable endevour, that is if you were making the market.
For me I much prefer to focus on the cutting edge lady(s) than to have them all in a haram, and having different composures. in groups, its very easy for one to behave ABnormal and every one gets affected. then managability becomes extremely random walk and extremise.
okok I hear you boss, the lure of GBP/YEN is very strong...I lean towards the dark side now.....
taking a break...have fun guys !!
added another scout to up the ante.
13830
by the way I am trading the guppy too.
trading cable and watching the yen's lead.
may end up legging with a guppy exposure on the spot too.
Its the same isn't it?
Only that my strategic options have more leeway, no?
Is E/U is rebounding? Cable rebounded quite strong.
yep, David,
Cable found tech support. But it seems the yen is holding the key. May do lots of draggy stuff before we may see direction.
Its getting unconfortable for me a little. Who turned on the heat?
Sure hope I am not rusty enough to be a frog in the boiling pot. You know that one?
So since no one answered, I ass u me that you don't know.
Many traders get caught, this way.
Here goes.
How to boil a frog live.
------------------------
Put frog in pot of cool water.
On the gas on small fire.
Turn on the heat SLOWLY, while allowing frog to accustom to new temperature.
By the 10 th increment of heating, the frog should be cooked, without a struggle.
How to survive the boiling frog scenario.
-------------------------------------------
Look up the pot to see, observe ABnormalities. (3 kingdoms)
Jump pot if feeling heat.Esp when trading against trend.
You can always get back into the pot, after checking whats happening.
For trading - feel to check heat, and dance the dance, focus and keep abreast of market pulse.( Baby sit position and be observant.) Do not be rigid, be nimble.
Quick question regarding the 3 kingdoms (I'm sorry if I'm changing topic):
Do you give each one of them the same attention? Or to rephrase: has each of them the same importance to you?
For example USD/JPY out of sync is the same as GBP/USD out of sync?
The reason I'm asking is the fact that each of the pairs has a different percent out of the daily flow on money, which would imply that they also have a different weight:
- EUR/USD: 40-45%
- GBP/USD: 20-25%
- USD/JPY: 10-15%
I tend to watch EUR/USD and GBP/USD and eventually the EUR/GBP cross...
They are all usd majors based against currencies,
So its the best gauge, on whats happening in the market.
All abnomalities will show.
And it should catch you attention, unless you were rigidly opinionated you must see it.no?
If you observed the adults, what can the child (derivatives crosses) tell you that the adult hasn't?
Hi drucarman,
The market isn't moving yet.
Its just market makers leaning from one to another to sweep.
They are hedging for capital , in efffects this does nothing to their exposure, except to leverage sweeps.
aka artifical sweeping.
regards
infact, my feeling is that the expectation is some strong USD buying may surface soon, and they are sweeping to shake out weak holders. notice how the sweeped the 80/90 eur levels before falling back?
Be aware of possible weakening of euro due to this:
LONDON (Standard & Poor's) June 8, 2009--Standard & Poor's Ratings Services
today said it had lowered its long-term sovereign credit rating on the
Republic of Ireland to 'AA' from 'AA+'. The outlook is negative. At the same
time, Standard & Poor's has affirmed its 'A-1+' short-term rating on the
Republic.
Stay nimble!
regards
Hi DutchAngel,
Thanks for the info.
I see whats happening now.
Seems market makers in London and Europe are SHORT of USD or will be soon. They need to buy them back cheap. So will the bottom fall out of the cable? and Euro as well.
I got it earlier this afternoon as a rumour, but just logged onto their website and see it is confirmed.
regards
Hi DutchAngel,
Thanks, seems its been discounted, at dealing levels.
Lets see if big money reacts to the info.
This info by itself is bear cable and Euros.
Lets see, I am waiyting for bigger money to hit.
Lets see if the bottom falols off the cable and Euro, esp cable.
be nimble to react.
In response to the original title of this thread i'd like to post a question:
In what ways can a mechanical engineer (40 hr/wk) go about developing or finding a system that would enable him to profit from Forex without the time invested by people who trade for a living?
Positive criticisms welcome.
Ahmed.
Hi Ahmed,
I suggest, you learn up whatever you can from the thread.
Then internalise it , and make it work for you.
When you have good, performance consistently, then maybe you may like to invest some time and money to see how far you can develop your robot.
This way , at least if the robot screws up, you can intervene to re program it.
I doubt, you can develop anything that you had not thoroughly mastered yourself.
But of course I had failed even with my trading abilities.
My weakness was in my ability to code although , I can create the flow chart that could incompass most of the components required. Couldn't teach the computer to think, was where I failed.
Moreover , the robot, this chaps got no emotions, it would kill my portfolio without batting an eye lash, and if it does that all I can do is kick it to death, and then , I would be the one paying for its parts that I break. Any how however you cut it, I would be the ultimate loser. Make any sense?
Hi fti and friends,
There seems to be focus on the E/U here, and just wanted to add my 2 pips worth. fti, I agree with your trend analysis, but I am waiting for a test of 1.3950 to 1.4000 now. I fear that a bread above 1.3916 goes to 1.3946 to 1.3960. Not predicting anything, but just what I see on the charts. Best wishes with the scouts.
yeah GEfx,
you may be right.
But why stop at 1.4000, abover 1.4000 is 1.4100, then above that is 1.4200. What I really like to know is what if 1.4000 is not breached , what would you do?
Remind me of a dealer I once had. Always talking levels, the one day he missed entering the market because it missed by a couple of pips. He explained to me that if it had filled.....,,,,,,,,,,,,,,,,,,,,,aft er a few incidents, I finally gave me the walking certificate, explaining that if only his levels were traded, I would had made him the Treasury manager instead.
Please do not mistaken that I am putting you down on good intensions and expectations. I have bias too sometimes. But mostly my market watching and strategic response takes precedence for proactive running battles. Really just wanted to get you thinking about you mode of thoughts. Think about it a little you may just realise the weakness in your way of thoughts. Hint: rigid, dynamics.
Hi aiyahmarklah,
yeah, and my scouts are in trouble because they didn't kiss my feet before being deployed. And I am supposed to be the superstitious chinaman.
On the trading front, I sent in a mild rescue , but was taken down,lossed 20+ pips on that attempt.
Market form is quite clear to me now.the market is DEAD in sweep congestion. Whats worst is that the market is very thin and market makers are shading by wide spreads and showing decoy bids while shading offers wide.
The intact trend is to buy usd, I now have to formulate strategy to hang them up and cut chunks of their meat, once the market returns.
What is best practise for this? Working on it.
Bleed scouts bleed, take it like men of steel. While I prepare the KILL.
Thanks Fti for sharing your thoughts and moves during the trading day. Learnt a lot. For my day, a few mild attacks and rescues, a stress free day all in all. I think your are right, nothing much happening at the moment, I will call it a day and rest up for tomorrow.
C U. Ray
Hello Fti ,
While watching you - fearless general in this battle, I admire your mindset and skills.
You operate objectively in every situation and your mind just move on with the market..
For me it’s really hard to keep such clarity, my scorpions often confuse me.
I wonder how did you handled these battles at the very beginning of your trading career?
Was it tough? Did you made many mistakes while learning and how long did it take?
Hi Ronin,
Thanks for the kind words.
However , I am not out of the woods yet,
but its much better for now.
For me I was fortunate, as I started my trading career in a Physicals Trading company. Understudied with some of the best dealers in physicals. The inner circles if you like, before being headhunted by the banks and joined them at middle manager levels before my shot on the fast lanes.
Initially, did much research on the technical aspects and the fundemental structures of markets.Was trained by the
best of the business, as bosses paid for my training due to potential. Was sold much of the junk thats available in the market place, but quickly realised the weakness of each techniques. Thanks to mentoring from my dad, I always had my feets on the ground. So I seived thru for the stuff that works and boxed that which were incompatable to reality.
Made little mistakes and learned quickly. Was also lucky to had the opportunity to observed , good and bad traders/dealers. So had much opportunities to fine tune my MO and thoughts.
Had managed and trained good and bad dealers, and here I am.
Mostly , many good people gave me much opportunities , when I was young. Paid for my training and gave me opportunities, to handle big trade books and to market making.
I guess I owe it all to their kindness.
Me, I am one who likes to poke at things and disect stuff.
Think, test and rethink. My nature. So the learning curve was not too steep. Moreover, my nature was towards simple life style , even when I was at the fast lanes. So ego was not a problem.(of course thats what I think, but then I am no saint) My walked with kings and slept with beggers mentality, thru my christ teachings, opened much doors and made me humble mostly. In real , maybe I always had Gods angels helping me along,I believe. So life has been good to me.
Was average dealer when young and had been climbing the profits curve ever since. The Mo had evolved with maturity and is still capable to improvements, as for me learning is a life long pursuit. Of course I can recognise BS when I see it and easily. The core mindset had been internalise when young, the MM had evolved over time and the MO had evolved to suit book mostly.
Time is of no real meaning, Someone could learn and internalise all this 1 month, if the character suits.Or may never get it right in a hundred. With a couple years hand on, probably master it. Then tweaking to improve, depending on his accrument could improve or completely digress to oblivion.
You asked hard questions to answer.
regards
PS: the balls you are seeing in this battle is due to that I am trading very small now , as i just returned from a long holiday. I always start small and build on it as the profits allow. So the position had no emotional impact for me, as it is negligible to my book. As a matter of fact I violated some trade boundaries, this trade.
Just want an opinion... seems like the US session didnt tooked it too down... infact most low was in Euro session...
Are the USD bull loosing steam or USD bear are trying last attempt to cover there loses...
though no doubt all factors point to USD bull...
V
indianguyinny,
My opinion is that the American are on holiday and was never in the market today. Seem much crosses and market making in thin volume , trying for a retrace before the big usd bull charge. Prices were probably from off US. US zone was meaningless sweeps.
But don't only trade to bias, trade the now. Take it as it comes.
And me still trying to find a way out of the mess for the little scouts. To abandon them, is easy. To find the solution, divine. I am retesting my capabilities to unrusty my mindset.
I agree with you that they are just shadows, or lines in the sand on a beach. To answer your excellent question about what I will do when they are reached: I will wait for price action to tell me what to do. If they are not reached, I will follow price action the other way. I do all the TA that everyone else does (or at least should do), but I follow PA at all times. I hope that is consistent with your actions, too. The market follows regular patterns and so do I. I hope your scouts are safe and well protected as the market rests.
today , I am foolishly swimming against the stream. Talk about rigid. Bad karma. Gotta reset and get back into groove.
regards
There is no one to check me, so when i am out of sync. I gotta feel my way back. Somethings wrong, at basics level, still trying to detect and correct.
Could be some ego creeping in, due to small trades, maybe feeling of invincibility. Still thinking.
Hi FTI
you wrote this nice ...
I do all day stupidity ... I reduced the size and I am careless, exactly how to you write
Gro, that can happen. Mindset is not easy to guard.
being away is no excuse for me. If this was regular sized, the damage would not be so mild, and markets were not too wild only behave a little perculiar.Takes a little to get back into the dance.maybe its not market, could be me.
That is the life of a trader, lonely with only you and your wits to check yourself. Easy to have the demons creep into our work. I keep all my trades large enough to matter, so nothing is viewed as small and expendable. Just my style, not that it is correct or best, but I need it to stay honest. You'll get the timing back soon, it is something that always returns to the professional.
The market was difficult today after the Europeans got things started, but no follow through during NY. I reversed the GBP during NY for a few dozen pips, and...
Thanks, I 'll try.
Scouts are still out on the Eur and cable on the long of usd.
My size, is sized up , and working at X5.(within Spiral)
Position will add in if on same side, otherwise positions will be fully reversed at x5- carry.
current P&L is c/f.inclusive of swap pips.
I shall show blotter after the fact, and when free to do so, to focus energies to market pulsing.
Hi All,
Very tired.
Rode both sides of the hill.
Book is back on profits.
mistakes noted.
1.had been too eager to get back into the market, therefore there was an emotional unbalance.
2. tried to ride a trend bia emotionally, in a congestion. This is basically the mistake, compounded by the emotional hurrying. Getting too darn rigid, in thoughts, creating rigid response , so not dancing to the tune. OUT OFF rhythm dancing.
As a matter of review , David had a better market feel than me when he mistakenly went the other way when he read my posting. You see traders can get very blinded by their bias. Be very careful there, trust yourself. At least when things go wrong you know how to correct it.( or I hope you do , by now).
3. talking on the thread too much , thereby lacking focus on some hints from the dance.
4. impatience, due to unsatisfaction of P&L in $ terms , as the size was too small, and out of normal from before.
Wow much mistakes, now back on form.
and CORRECTING mistakes.
FTI: Thank you for sharing your experiences. I have to ask you. I have a demo account and I am profitable for one month with using method from Bobokus. Is now the right time to establish live account? Many people around me use indicators and in the Czech rep. it is now golden fever...They try live, one or twoo month, than they change it and again. Lost money... And they usually end with no hope... And I dont want to obtain advices from them and Bobokus have his own bussiness...so he is not here any more. Should I go live??? Thank you very much.
Hi Fana,
Thank you for you kind words.
Firstly i do not know Bobokus, nor what his Modus Operande is like.
Off hand I would tell you NO, do not go live.
This is because, I feel that you are not ready.
If you are ready you will not ask me, as I really do not know your level of readiness and experience(I suspect that you are quite new to the business.) but since you had survived profitably ONE month of demo you may try small account , ONLY if you FEEL that you are ready for the sufferings to make the $$$.
By the way, have you read this thread, At least the first 200 pages of it?
You are very lucky person, as there will be many here who can and will help you if you reach out to them. And you will know who they are, if you read this thread and TAF lounge in its totality. Remember reading is free. Your dedication to the education is not. It cost your life(time & effort).
Lastly , I warn you not to be too eager , but get intuned to markets slowly. If you had been following, you would know that to fall out of sync is possible to the best traders, even me.
Odd Tuesday...it feels as early as a Monday.
Just several min ago E/U moved into a strong spike.
Liquidity is low.
There is not a London or US holiday.
Where is the big money?
It does not seem to be in forex.
What is going on?
What am I missing?
yeah , Lusan same feeling here.
Where's the money, isn't there any left?
I guess it will pass. Question is when.
If this market congests for 1 year and voitility dies down.
We may be turning old for nots looking at our monitors.
That$ move was seen across the 3k's not just euro,
corrective or reversal? don't know overall bias is still down, but she's pulsing north atm, go with the flow, but be Nimble I think is the key for the moment
Hi auxesis,
like David said, seems GS is herding the sheeps our way.
Feasting call soon. Getting ready hunting equipment.
Staying focused on trading this morning has paid off, but am now taking a break to check in on FF. fti, glad to see you made out alright. Now take a deep breath and good luck trading today. I hope everyone is careful with what they see today. I am guessing there are a few surprises in this still to come.
Hi GEfx,
Deep breath, and a freah pot of coffee.
Back on the saddle.
ah no hope to make money easily this session, need to go bit by bit ...
london session , I was bullish when it was bearish and vice versa , ended up rescuing 3 times (maybe 4 times dont remember)
overall flat day , although small profit in hand ...
going off now , goodnite all n good luck to all who are still in their battlestations ...
Looks like it gonna stay at 14000 for sometime yet.
Ok, I'm exhausted. Gotta hit the sack.
Goodnite, Cu all tom.
Wow... this thread..... It's very2 contain quality message.
Thank you for your post, I very like it when you say this:
Code:
If I may borrow from the quotes of Sir Winston Chirchill. (Abraham Lincoln)
"That you can lie to some people all the time, all people some of the time, but not to all people, all the time."
Similarly, theses studies can work in some market conditions all the time, all market conditions some of the time, but not all market conditions all of the time."
I do hope FTI back to this forum again. Gonna miss...
Thank you,sanzaru,for your kind words.
I'm still around, energies are a little low, but still here.
Now you know the benefit of buy-and-hold? My G/U with 90 pips ,still holding over night. Attack positions were closed with 20~80 pips. E/u jumped in the middle (1.4007, with about 60 pips out).
Thanks FTI for teachng of nimbleness and how to read the pa.
OLD Dogs back on OLD tricks. In the same breath you thank me for nimbleness. Thanks thanks, I am so numbed.
And shame to the oldies of the thread for encouraging him. You know who you are, don't you. Otherwise beg the people here to tel you out,l n
regards
Anyways feeling unwell , so I will take some time off trading , but will be monitoring, something may just kick me into gear.
nice to see such a lot of interesting postings in here.
Hope you are all doing well.
Am dancing with my lady with good success today.
Started my session with a short bias early before London opening and managed a flip ~1 hour after the London boys were in.
At the moment I'm very nimble because there could be a change in bias again soon. Depends how PA unfolds around 9840 area ...
Trade well!
MaMood
Hi MaMood,
Whats happen to the Lounge.
Maybe you should start the morning briefings there again, but watch the bull shit. Just the important fACTs , no opinions should be included. Don't give some people the path back to rigidity and fortune telling, its so easy to backslide.
yes @ 85 but Im not really in full battle gear.
Im taking care of some other things at the same time.
eyes will be fully open around 3955 area.
I really miss being around with the guys here at the site but Ive been really busy, things have been hectic.
anyway, I really like trading around this time, I dont think Ive lost a trade in 7 months with the e/u and g/u during this time period.
Hi lilpip,
Good for you, my friend, keep it up.
Hold to basics.
More good months.
my same here ,
not feeling well from yest , sore throat , heavy cough ... maybe the swine flu
Hi maheswara,
probably just, weather flu, its just the seasonal bash to keep our body defence systems up. Have you been flying, visiting airports, kissing strangers or talking to people on forums?, mmmmmm............................. ...... maybe....paranoia.
Who describes it like the common flu.
maybe to keep you home and save fuel prices from rocketing, maybe to enhance detention powers, who knows...............still ......................... .....I'm on delta alert.
What is opinion on USD? Bullish or bearish? The 5M E/U chart makes me confused.
Regards.
Hi All,
Just reach home.
Wasn't feeling well, so I took the train down to shenton way for a walk about.
Visited some brokers as well. Was nearly productive.
@ David,
My bias is bullish USD, but that move always loses money.
The bear USD side is supporting the wasting habit.
I would much rather dance the tempo. Best have no bias in a congestion. Unhealthy mindset.
Hi, fti...do take care...temperature's going through the roof and our annual haze season is coming back....
Go shenton for some 人气 is it ? I can imagine being the person behind the desk of the broker you visited.
Good health to you....
aiyahmarklah, yeah always give them a hard time, explaining to me their shortcomings, due to that its retail. I always forget that I am no longer dealing a few hundred million , and expecting the same level of broker indulgence. Sure hope the industry will mature to absolutely professional levels soon, hopefully in my lifetime.
They keep telling me about their problems and I keep telling them that unless they can, my bigger money will never reach them. The chicken & the egg problem.
Come think of it I have two computers locked to two different brokers online, but still the phone does more business than both put together by leaps. Until they can address their credit goodwill and mobiity of funding, the bigger business will never happen. The balls in their court. May have another computer up soon though. The new chap , he's talking about less tha 1 pip spreads, thatwill be interesting.
sir , u might wanna try futures , at least they have transparency...
doubt if retail will ever mature...
Hi maheswara,
futures have even more obstacles,
namely, liquidity, spreads due to bro, time zoning liquidity.......+some others which I not nice to disclose.
OTC will mature, but customers have to mature and demand, then it will happen. Some stuff that was not available in otc has already happened. For example , prices pumped to you. Thats new, if you trade OTC interbank you will have to ask banks for price to deal, no one will pump prices to wait to be hit. So count you blessings, give time it will mature, how long before it happens, well thats the question. So to be pumped prices for retail sizes, was unthinkable a decade ago.
Hiaz tell me how please ex dealer ? Somemore the old school type ?
Have you spoke to banks ? I surveyed some, mostly the big locals ones, all don't qualify(I don't qualify, not the bank). Talking to Rabobank now, but telephone call in...., thought they have a currenex platform....
Despite your background, fti, you are not spared the pains to retail forex huh ? hehehehehe
aiyahmarklah, yeah seems so.
Actually I got funny feeling, that its not that you are not qualified. Probably because the rooms are not looking into giving away their monopoly of the otc structure.
I am lucky that no one has bumped me with"well why didn't you implement this when you were calling the shots?" To be absolutely honest, then, we were only after killing bank counterparties. Corporate desk were killing corporate suckers , imagine for 5 to 10 million usd tickets, they were quoted 15pips spreads. Now you are quoted 2 pips for non marketables, was impossible. But here we are.
Be patient, when the bank customers wise up and begin to use retail broking, then they will start thinking. Takes some time for them to feel the pain and react.
Moreover the authorities are not supporting the infant retail otc structure yet. It may be a wildcard and they cannot afford support something , baring that something goes wrong.(Structural meltdown risk)
Squared on all postitions, and will take time off now. I think my posts are more of an intrusion than a participation, so will try to be much less chatty here and look around FF. I hope Zoran's post is not an early sign of a family arguement. Deep breath and fresh cup of coffee time.
not really, just different mo and mindset.
But as you go along,you will find the logic behind the difference.
The pointing out of difference (arguments) are really caring people who detected, so bring up the issues to deliberate.
Uncaring people will not mention and let the incumbents learn thru their own learning curve.
egos cannot clash, if all are holding theirs down. It is for the good of all. So stay cool. reminders are for the good of all. remember it can affect your book.
yeah , I had been nice to many.
I guess what goes around , comes around.
anyone caught it.
I sold the 14126 and brought the scout back at 14095.
lets see if this is real.
Small stuff like this make s my day andstarts the ball rolling.
Lets hope it is n't some on coming train.
nice to be back on the saddle.
Suddenly the energies came back from thin air, after that phone call, nice broker he is , looking after my behind, thanks to him.
regards
its HOT night here physically.
even the air con is behaving wierd.
Gotta get it serviced for gas, later.
Heard that american market makers may like to link the twilight zone for us poor chaps. then we may truly have no breaks into tokyo. Brace yourself for no sleep. and I am not joking.
No,no , no disco until the works done.
OMG ,one of my computers is reading june 02 , 2004.
sure is twinlight zone for me, LOL.
Ah now maybe , Seems it is possible that , my bio batteries went dead, while I was away, that explains why 2 of them were down. My silly it expert went reinstalled Xp , feared virus attacks from hackers.
yeah, I think we did it.
Tokyo its all yours from here.
I'm on top.
00 comes
Time to ropein the Goldman sheeps.
yen leader.
If of any value., I am watching that head & shoulders POSSIBILITY on the Euro daily too. Its a long legged right shoulder, so watch the volitility IF that neck cracks. but of course its a big IF, probably watching for it next week. She's allworn out by .......who put that crystal ball on my desk?
Aa ha , took me out on 00.... biding 01, ,pls take that crystal ball off my desk,,, now where's my wallet?
How is the Tokyo open shaping up? Can only trade for a few hours now and then its off for a long weekend.
fti, that formation on the E/D day chart has had my eye for a while now. My bias has been up, but now the right shoulder has better formation to it. We'll see if it is going to be south, but will want to see a deeper move to get me in that frame of mind. Following the PA, regardless, as long as there are these big swings.
Regarding the earlier discussion on leaving trades open unattended. I think the idea of sitting with your trades...
hey, no harm done.
Just that, the long sword is far different than any of you had envisioned.
But for a discussion on that , you must know about fair pricing models, and the greeks esp zero cost synthetics. Some here may be mislead that it has any resemblence to dancing the markets and super imposing the dance to the long sword , doesn't give it much justice.
As a matter of fact many here had mistaken, short ride extensions to long sword strategies. Can't go there yet, at least not until there's veteran traders to discuss it. Mostly french to many here.
hahahaha, no need to apologize. This is the world wide web so anything is possible.
Regarding your earlier post, you meant delta neutral ?
delta neutral books, does nothing except temp zero expose.
zero costed carry. delta gets deep in the money, very deep, if you get the drift.
sigma super +ve, theta -ve. form is boxed synthetic butterflys.
Without mastering short sword, you have no handle.
Are you sure , you are not the mark?
if suits, outside line.
I am not the mark you think i am....LOL. I am 27 years young with only secondary school education, no where near the type of people you are talking about.
Ok, so essentially you will be hedged lah. But getting the maths right doesn't mean anything.
---something going on on the dance floor, or is it just me ?----
lol lol lol fti, u really threw me off early in the morning lol lol
so is Nic, anyway noted. not 27
yeah, they don't like me.
Sheeps still control.
Don't know what the toyko boys think.
Seems the sheeps keep making my profits disapear. lately.
anyway have lots of ammo, lets see.
maybe I am getting rigid? sure hope not.
Who motivates the motivator?
Who saves the a...a...a pro?
Only angels can, I guess.
I 'll probably give it a little more rope. Otherwise I call it a week.
regards
again.
So mark are you still doing the hamster thingy to keep awake?
So when are you going to get into this a little deeper? I remember you said once that we'll know when we're ready.
I was wondering whether this strategy I have somehow relates to your long sword? I know the overnighter is just an extension of the short sword but the long sword terminology you use has me baffled.
Do we need to understand options to get the gist of things?
yes, Zoran.
spots, forwards,options, synthetics, theoritical edge and premiums and underwriting mastery. Not for the uninitiated, Moreover high cap intensive. For pros not for punters.
....i am not saying you are old....just need to state the obvious so u will stop speculating lol
Not so sure about tokyo as i usually join them after lunch.
Are you experiencing this - "无敌是寂寞的“
calling it a day, cant take it anymore, just realized I got bloodshot in my eye from 18 hrs of watching....need to get a life...but later FRIDAY woohoooo
So when are you going to get into this a little deeper? I remember you said once that we'll know when we're ready.
I was wondering whether this strategy I have somehow relates to your long sword? I know the overnighter is just an extension of the short sword but the long sword terminology you use has me baffled.
Do we need to understand options to get the gist of things?
Hi Zoran,
Every one likes to fly before can can walk.
Why do you think most of long tenure traders normally end in the bin.
short sword does not need the long sword proficiency.
But long sword cannot be trained without short sword proficiency.
If you arrives you can figure it out for yourself easily.
Then I think you will probably laugh at the gamblings.
OK, so I assume you still use your long sword? How does it assist with your short sword battles? Are they directly related or does it just set the background to those battles?
No, I am retired. I spare myself the pain and inconvenience.
I am really trading , more for mental jogging,but of course to make some pocket money too.
I don't know what our master fti has in mind on the long sword, but option is not as simple as it appears in the everyday newspaper advertisement.
I has spent a little effort in exploring this option (for stocks) thingie, and come to conclusion that it is not my battlefield. Not my level now, at least.
You see, it goes beyond buying/writing put and calls. It goes beyond just combining 2 options to form a strategy. It requires proficient understanding of various greeks (rate of change) and strategies, their relationships/mutation...
multi dimensional. very skills intensive stuff.
much better than all the long tenure junkies, out there.
Sometime, very ball breaking. Whne it comes in.......lets say beyond your wildest imaginable, limited downside with unlimited potential due to synthetics TE. But not like buying options, thats insurance.
Myself, I look at the larger timeframes as I would the smaller 15, hrly, 4 hr. So after the close of last week and looking at the weekly for me 1.3839 was an area of interest or what I would watch for to buy and hold a portion for the week.
This way, the best you can achieve is extended gamble rides.(small boy rides) Could turn into "hope" junkie, if not careful with scorpions. VERY EASILY. Not too often, best view it as unnecessary gamble fixes, sometimes, when you get itch behinds.
Babysitting is already dangerous enough, Blind punting, not unless you have made too much money.
ah now no probs , just didnt know cough syrup can have such effects, i ve heard of it ... just never tried it...
ah anyway all good now , waiting for London to show something ...
you havent slept have you ? why am i not surprised ...
, did some, just woke up at twilight zone to get some trades done.
A little bird called.
I see you made a killing on this move. I did some good attack as well, but I’m just training on demo.
It’s funny that only after hours of watching and following market with it’s rhythm,
One can get the real edge-FEEL.
If I would just look at the charts for the first time, that trade wouldn’t be so obvious.
I wish I could battle more but unfortunately got other duties.
Good luck to everyone
yeah Ronin,
Sometimes quick sometimes slow, depends on her, and self frame of focus+mindset.
Did a post I made in the lounge discussing my longer term strategy encourage you to buy and hold?
I did not go into enough detail for anyone to understand what I am doing and I wouldn't encourage it. I posted it thinking I may have stumbled onto the basics of the long sword and I have been probing fti on it to see if I am anywhere near.
I think it's best that I research it myself and satisfy my curiosity rather than post potentially dangerous and off topic posts.
Thanks for clarification.Zoran.
No need to worry too much, markets will teach,
Just be receptive.
Long Sword need much market structure understanding.
Slowly , many subjects, and very on the surface notes.
Have to dig and think, then slowly it will come.
even ability on option subject alone may disorientate newbies easily. Gotta get tp understand the NATURE of the synthetics.
I shorted @4086, 4089, still holding them, now it is 4044, which is better, of course I reduced my positions at 4060 before data. would you jump in now and chase the market? I shorted G/U @6551, now it is 6461, holding tight and not shaked out by a rebound, which is better?
Dear Zoran, if you think it is off the TAF topic, I will shut up.
Have a nice day, my friend. You are still my friend.
Ai Ya , went for a shower and she comes.
too bad for me.
David, the money makes things right always.
No need to split hairs over it.
Right concept is very important, so long as each is comfortable with your tweaks and have a good book.
Different learning curves,even same Mo may get different prices, even sides sometimes.
"One who believes all of a book would be better off without books. Education must awaken the innate abilities of the human mind."
?Men for the most part err, and are afterwards able to reform. They are distressed in mind and perplexed in their thoughts, and then they arise to vigorous reformation. When things have been evidenced in men's sight, and set forth in their words, then they understand them."
?Thus, when heaven is about to confer a great office on any man, it first exercises his mind with suffering, and his sinews and bones with toil. It exposes his body to hunger, and subjects him to extreme sufferings. It confounds his undertakings. By all these methods it stimulates his mind, hardens his nature, and removes his incompetence."
?All are equally men, but some are great men, and some are little men. Those who follow that part of themselves which is great are great men; those who follow that part which is little are little men.? 孟
"Shortsightedness is a horrible disease that impairs a persons vision, when the disease is in the personality, the myopics is permanent and fatal." ...fti
I am absolutely sure that the money makes it right, tell that to the martingale gamblers. Their egors will absolutely agree.
The parable of the seeds.
---------------------------
M't:13:1: The same day went Jesus out of the house, and sat by the sea side.
M't:13:2: And great multitudes were gathered together unto him, so that he went into a ship, and sat; and the whole multitude stood on the shore.
M't:13:3: And he spake many things unto them in parables, saying, Behold, a sower went forth to sow;
M't:13:4: And when he sowed, some seeds fell by the way side, and the fowls came and devoured them up:
M't:13:5: Some fell upon stony places, where they had not much earth: and forthwith they sprung up, because they had no deepness of earth:
M't:13:6: And when the sun was up, they were scorched; and because they had no root, they withered away.
M't:13:7: And some fell among thorns; and the thorns sprung up, and choked them:
M't:13:8: But other fell into good ground, and brought forth fruit, some an hundredfold, some sixtyfold, some thirtyfold.
M't:13:9: Who hath ears to hear, let him hear.
M't:13:10: And the disciples came, and said unto him, Why speakest thou unto them in parables?
M't:13:11: He answered and said unto them, Because it is given unto you to know the mysteries of the kingdom of heaven, but to them it is not given.
M't:13:12: For whosoever hath, to him shall be given, and he shall have more abundance: but whosoever hath not, from him shall be taken away even that he hath.
M't:13:13: Therefore speak I to them in parables: because they seeing see not; and hearing they hear not, neither do they understand.
M't:13:14: And in them is fulfilled the prophecy of Esaias, which saith, By hearing ye shall hear, and shall not understand; and seeing ye shall see, and shall not perceive:
M't:13:15: For this people's heart is waxed gross, and their ears are dull of hearing, and their eyes they have closed; lest at any time they should see with their eyes, and hear with their ears, and should understand with their heart, and should be converted, and I should heal them.
M't:13:16: But blessed are your eyes, for they see: and your ears, for they hear.
M't:13:17: For verily I say unto you, That many prophets and righteous men have desired to see those things which ye see, and have not seen them; and to hear those things which ye hear, and have not heard them.
M't:13:18: Hear ye therefore the parable of the sower.
M't:13:19: When any one heareth the word of the kingdom, and understandeth it not, then cometh the wicked one, and catcheth away that which was sown in his heart. This is he which received seed by the way side.
M't:13:20: But he that received the seed into stony places, the same is he that heareth the word, and anon with joy receiveth it;
M't:13:21: Yet hath he not root in himself, but dureth for a while: for when tribulation or persecution ariseth because of the word, by and by he is offended.
M't:13:22: He also that received seed among the thorns is he that heareth the word; and the care of this world, and the deceitfulness of riches, choke the word, and he becometh unfruitful.
M't:13:23: But he that received seed into the good ground is he that heareth the word, and understandeth it; which also beareth fruit, and bringeth forth, some an hundredfold, some sixty, some thirty.
Amen.
If You still cannot understand, then maybe this.
50 steps laughs 100 steps
And this is a nice... errr... ugly one ... from a live account...
the skill set can be learned.
The mindset for many had already been adulterated, lots of reapair work is necessary.
The egor, well that one, only oneself can contain.
much warnings were given, without the experience, it is easy for egor to take the drivers seat. Automation, without regards for mindset moderation guarantees this result.
That is the result, and it is written in stone.
I hope others can learn without having to go through it, and I hope that those that had to go through it will learn, carefully how important all the components presented are. It is fool hardy to short circuit them.
Unfortunately for some, without the pain, true learning cannot begin.
This was the second biggest lesson in my trading life (first was TAF itself). I thought I could avoid disaster. I knew the risk and I decided to take it. The battle was lost after almost 2 months fight, since the first hit came. Regards and thanks for the input.
P.S.: edit noted. Thanks again.
A person, with humility in his heart, determination in actions and ability to "let go" of his destructiveness within. For such a person, his recovery had already begun.
Bought a new set of computer Sunday at the PC Show at Suntec City to start off with maheswara's fav broker who just started shop in Sg, and this happen, no focus ,clowning around.
See, what happens when not focused, it can come anytime. "Be prepared"
Dunno, may be jitterbugs day, anyway , lets see.
My position is not big, tried to get some feeling first. Major campaign will start around European openning.
So, you are still bullish on USD. Me too. And I suspect USD is forming a change of mid-term trend (USD/CAD is clearer). What is your opinion?
Hi David,
I don't know.
Saw the gap away on early opening and went for the cover try. But got distracted by myself. So took it out to re-feel. Trying to go with flow, lets see.
Ah yes, but they only became operational just now.
I think licencing due to lehman fiasco put them in a bad spot.
But they are operational now. I visited their office. they are helping me to "understand" their platform, while they claim to be very good, even better than mt4, so I will be trying them out.
As far as I know, SAXO bank has a branch in SG.Tried their platform 3 years ago, when I was abroad. They called me back. But I didn't see much advantage than OANDa.
Sax same plarform as siti Sitifx proalso siti spot retail treasury aka citigold pref little spot dealing sized so sometime slow but friendly.
had a good run , now squared.
seems intact, looking for window.
I guess most of you are ++ , keeping quiet as church mouse with the profits.huh?
Siti says something big to introduce in 6 months time.
Depends. The one I use charges bank rates when making purchases in foreign currencies so it has its benefits. I have a direct debit set up to pay the full balance each month so I don't pay interest either.
Debit cards tend to charge a fee for each transaction abroad so it can cost more than a CC.
Not where I move around.
normally when I shop, they ask cash or cc.
If cash card ie debitcard 2% discount.
creditc the U.Price.
Karen calls it the upper price.
Always wondered why sg girls go for men with the 5 c's
soonest, be killed(bankrupted) by the Cs. Well maybe thats the idea, they can they move on to the next victim.
oops . battlestations !
be very careful, may meet with technical buying of usd, if cracks. (hesd shoulder)
Yes, that's why I have both CCs and DCs. Most places have factored in a 2% increase to cater for CC fees so unless they offer a discount I'll use my CC instead. However, discounts are rare around here.
I suspect 10% markup minimum.
2%cc, 7%GST, 1% tout benefits., another 100 % entrepreneurship.
bot a computer set on sunday, treated me like some begger, asking for this dicount and that discount.
When I paid for the thing, suddenly the attitude took a 180turn. I guess thats what you get dressed down in flip flops and bargaining.
Went looking around the giant LCD HD TVs , asked for price, and was given the, "I don't think you can afford it look." until , i turned and asked karen, "I think its smaller than ours ,right?"
7% GST is a bargain. VAT is at 17.5% in most of the EU with the UK bringing it down 15% recently.
I do remember reading that, when taxation went to the 25% zones, normally you have a revolution onhand. Seems nearly there, huh? If you added both the direct and indrect taxes, I think we are exceeding. May be this way , the revolution may be postponed a little, until the people realises the maths
.
Nice job. I cut the loss and flipped. Now squared.
You think more to come? Come on, it dropped 300 pips without any sound correction. Dangerous to chase or as you said, bloody greedy?
Read Carefully.
What makes you think I am Long USD now?
Didn't you get a feel of the drop in volume and activity.
Guess what is happening.
By the way , what makes you think that after 300pips move, there must be correction? What rule is that? Better get your mindset straight, dangerous mindset, very dangerous frame of thoughts. Had you never seen thousands of pips moves without correction?
maybe if you endorse one, you can strike a deal with them eg core pricing ? lol
If you are good trader, you would want to stay under their radar.
Tell me, what kind of deal can you strike with brokers?
You think there's anything they can offer you that may improve your trading?
You think they own the market? they are only market access.
If you are suggesting commission sharing, then I am sorry but I have no interest in brokerage, I was market maker, tier 1 , I have my honour to live up to.
Its a different world.
Didn't mean to whack you on the head.
Just clearing some fallacy and rigidity in thinking.
Why traders would think like that, really baffles me.
I ask that traders feel the flow, and they put stones in their flow path.
This had been, I think David's biggest obsticles. wrong mindset.
This kind of thoughts creates illusions , inhibits ability to analyse situations.
Mostly rigid, and without basis, and driven by fear and phobias.
I guess you get the point.
The thing is that people are basically inclined to be self important , so they like to demonstrate their abilities. One is in predicting, what markets will do, where it will resist and support.
All the best traders I know, they are very nimble and intelligent that they will not impair their thinking and feel, with arbitary rystal balling.
The people I know who does this are basically, report writers, junior traders, waresmen..... and the sorts, who have to impress others on how learned they are. The people who makes markets, we can create a million variances on the binary decisions , that there is no such thing as normal, or "usually" . And we never become predictive to try to catch tops or bottoms.
From this behaviour , you can tell whether such is a pro, or just illusioned.
Of course , we like all have market bias, but trading is dynamic, bias can be wrong. 50 % of the time, it is.
regards
On your discription of your MO.
Why do you limit your profits potential?
The skills in trading is to try to limit your losses,never limit your profit potentials, as best you can manage. Use proper MM strategies.
So fixed is nothing and Change is everything... when you are sure go with your Bias/Guts/Intution ...
BTW i told you long time ago but FTI i do think you are teaching more then trading here .. you are teaching life here.... thanks for sharing you wisdom... Not every worth is known by money sure if i add that u are still precious...
Capre diem...
V
Thanks for you kind words.
Just to add,
If you think about it, alan watts was very right.
We always want to put thingsinto boxes.
But the real world isn't like that.
"When you open a box of chocolates, you never really know what you gonna get.".......forrest G
Thanks for this... i need to incorporate more into my trading....this is one roadblock i am facing constantly... need to get my mental side right...always worrying of tidal wave keep my position small...
BTW you know this guy... this book seemed like the way u trade...
Like I said before, indianguyinny24, know that there are many pros and expert traders in the markets. Not everyone writes books about their skills, or talk about it in a public forum.
They just go about their days, doing what they do best.
mostly invisibly.
regards
For me I am "old", so I share a little of it, hoping to help someone,if they can understand.
PS you are always troubled, by those thoughts, cause you are not orientated to the MO yet. either you have little foreign capital yet, or you have not sufficient exposure experience and is new to the risk undertaken. Don't force it , it will come naturally to you over time. As your learning curve matures, so will your emotions and trades. Remember stay to whats comfortable to you. Don't try to keep up with jones, you are you, and they are they. And stay with the basics.
If you Old can have this eneergy what were u when you were young...
also u altleast helped many here... add me one in that...
V
burnt my candle both ends, on the fast lanes of wheeling and dealing for banks. so here I am trying to keep up with myself for myself. Keeps alive while retired.
First of all, let me say thank you to FTI for opening this thread and unselfishly sharing his wealth of knowledge and experience, and to all contributors for the very educational conversations. I have finished reading the whole thread once and about to reread it again the 2nd round. FTI, you sure have a gem in every post you share. Since reading about your MO, my trading has turned around from a consistent loser to one that no longer fears the sight of a drawdown and always fight to get the coveted prize (profit). Learned forex trading 6 months...
Hi jonyl_pips,
Thank You for you kind words.
Welcome to Forex.
Read carefully and think much.
Hi FTI and all
"If not found some ideological close, take it like defeat himself. And nevertheless is ideological close by surest sign, that the ours thought isn't adequate whole situation."
Regards
Hi Gro,
Your recent paintings were nice.
How have you been lately?
regards
Just a hint: I have very much USDs, yesterday and today.
waiting for tokyo to try her dance, later.
Dear fti,
I've been doing great for 2 month in AOW. Averagely I make around 1% per day, only 2 loosing days of -3%(a mental crash) and -1%.
This achievement is made with max 20 troops(Max troops in attack is 9) and max 2% risk.
I'm very happy with the result but I'm not sure if I'm on the right way or not. I'm a full time trader. Compare to many fellow AOW traders, they trade only 1 or 2 hours per day and they achieved the same or more.
Do you think I'm doing normal or... ?
I can never thank you enough, but, again... thanks for rebuilding...
Hi All,
I just got up.
So we have some retrace afterall.
@imjscn
Considering what you had said, you turned from a loser to a winner. So thats change.
Don't worry about the ROI.
If you can hold consistent to this performance , you would be outperforming many people, fund managers included.
Your enhancements from here is all MM, if you can hold to good mindset. Watch your capital adequacy zealously, that you do not backslide into your old thinking.
So my only advice to you now is to stay on form and get well orientated into your MO at your own MM comfort zone.
When you are ready to upgrade your MM, you and you alone will ltimately know. Remember , always live headroom for errs. we are not perfect, thats 's God's work, just stay to profitability at your own pace.
market very intensely looking for resistance on top. I am relaxed and
don't think I will join this selling usd run.
but no bull usd in sight yet. lets see what London does.