Technical analysts are very confused - Page 4
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Thread: Technical analysts are very confused

  1. #31
    Quote Originally Posted by ;
    Is it just me or have also read the several so called experts do technical analysis on a daily basis. I find their analysis very interesting. Perhaps they believe they are clever and market readers, but in my humble opinion they show their ignorance and say the obvious. BECAUSE NOBODY HAS CONTROL OVER THE MARKET. Nobody knows what the market is currently gon na perform. (That is the reason why some use indiors. And also the most posts/discussions are observed in the Trading System egorie. Everyone is looking for a system which can predict the market)

    In short all of the technical analysis are all saying is: The Eur/Usd might trade up, but then again it might also trade down.

    That's like saying: It might rain tomorrow, but then again it might not rain tomorrow

    Please correct me if I am simplifying this or lacking some rather important calculations/formulas/guessing
    Yeah your wrong!


    You can't compute and you don't have any standard fundamental comprehension.

    Nothing to do with this weather, do a little homework and it might be less foggy.

    Sorry, but a very poor assumption.

  2. #32
    Quote Originally Posted by ;
    I've never understood technical analysis articles why they wast their time.

    This simple if you think that the Eur going to X price only buy/sell it and buy doing this we'll realy know what the analysis thinks.

    Who the hell is paying them to develop with this crap, or better yet who's buying this crap so that they can even get paid to write it at the first location.

    Don't get me wrong I do not mind reading a couple of good news articles but technical analysis forecast drives me up the wall.
    If technical analysis forecasts drives you up the walls, then do not listen to it or see it. It is as simple as that. The problem is not with Technical Analysis or any other method, the problem lies inside traders themselves. Please see Market Wizards, you'll fund a lot of traders using entirely different egies and analysis methods.


    If you think technical analysis is a waste of time, then why waste your time studying it. But allow me to tell you, do you know you waste your time studying it? Since everybody is trying very tough to come across the brilliant analysis methodology that will reveal to him/her where's the market going to move next and based on this he/she will wither buy/cover or even sell/short. That is why people who do not believe in technical analysis read analysis.

    A final note, attributing technical analysis is no better than attributing the market for losses. A fantastic trader must have the courage to blame himself and only himself for his trading losses and not anyone else or some other way.

    A quick illustration, I experienced a poor loss now from the gold market. I've been brief gold for about a month and I had been having a goal in mind to pay my position. Today, I had been re-assuring my analysis and discovered that gold has a potential service while gold was trading at $661-$663. I moved into a confusion as I am having a meeting for the whole day and will not be able to watch the market and my goal is far off. So I chose to play it safe and book my profits to prevent any conclusion of week openings. So I covered the brief. 10 minutes later I told myself, if $660 is a fantastic service and the re-analysis is saying the next two weeks will be between $660 and $680, why don't you reverse the place and accept those $15-$20 points in my pocket? Sounds like a fantastic deal. So I initiated a long position at $660.10. I entered my stop and limit orders left to my own meeting.

    Later when I came back and astonishingly, I discovered gold down by about $13 using a non for the day below my initial goal by about $1.4. Of course my stop got struck. Do you imagine the feeling you could get. I reversed, had been brief and lost on the commerce. I wasted the original short position potential profit and flipped it into a loss. Two bullets in the mind. Whom did I blame? the market? Technical Analysis? My mom? The assembly? Of course I blamed no one but myself. I blamed myself to be an idiot to reverse the position at the first place and going to take $15-after making around $40 from my initial probability short. And I blamed myself to be for covering my position earlier ahead of the first set goal, a different idiot. I wouldn't have blamed myself if I'd covered my place $2 or $3 but I insured it 10 above my goal which is a lot of money wasted and worse, missing. But at the end of the day, I blamed the error on myself. Of course I had been smart enough to play it safe and the magnitude of the loss was negligible when compared with the profit because the brief had been initiated, but excellence requires reducing and discipline idiot actions. You won't be able to be prosperous in the markets if you keep doing the exact same error. There are hundreds of mistakes to be done while trading the markets, if you do each one of them you will go broke before you know how much are still left.

    Blaming others, both techniques or people do not bring victory. .


    Thanks,

    Nader

  3. #33
    [quote=narafa;1462363]
    blaming technical analysis is no better than blaming the market for reductions. A good trader should have the courage to blame himself and himself to get his trading losses


    Sorry about your loss, but I totally agree with your announcement. I think not and one should be open minded as we're the only winners once we do this dismiss ideas fast. There's much to learn out there, and I believe one can learn something from everybody. I also consider mistakes as valuable lessons (I'm just a slow learner ), with silver linings, possibly this error will prevent us from performing a larger one in the future, who knows? . .and perhaps how one responds for their mistakes is exactly what makes a good trader much better.
    Nader, u r too great to be on the losing side for long. .
    Joyful pippin all

  4. #34
    Quote Originally Posted by ;
    What has been your worse drawdown in any particular trade before healing.
    On gbp/usd trade went 200 pips against me. . .and just after two months did it close with a 100 pips profit on friday 8 june

  5. #35
    Quote Originally Posted by ;
    Lao Tzu, a 5th century BC Chinese philosopher stated People who have knowledge do not predict. People who predict, don't have knowledge.
    Brilliant quote...I love it...

  6. #36
    Quote Originally Posted by ;
    Is it just me or have u also read the some so called experts do technical analysis on a daily basis. I find that their analysis very interesting. Perhaps they think they are smart and market viewers, but in my humble opinion they only reveal their ignorance and say the obvious. BECAUSE NOBODY HAS CONTROL OVER THE MARKET. Nobody knows what the market is gont do. (That is why some usage indiors. And also the most posts/discussions are found from the Trading System egorie. Everyone is looking for a system that can predict the market)

    In summary all of the technical analysis are saying isThe Eur/Usd may trade up, but then again it may also trade down.

    That's similar to saying: It may rain , but then again it may not rain tomorrow

    Please correct me if I am simplifying this or overlooking some rather important calculations/formulas/guessing
    iandekoker:

    My perception is that economic/political decisions go the markets.
    Thus central to the market direction we view, is the fundamentals.
    No bank or governmental entity has total control on a worldwide scale.
    Therefore, these don't always know how the markets
    will proceed. The pros of whom you refer less so.

    But, you will find experienced, successful traders who know
    the importance behind the fundamentals and the way they interrelate
    to sectors of their economy and currency markets. Having gained comprehension
    through experience, these ones only use chosen indiors in
    conjunction with their wider based knowledge to accomplish their trading
    goals. Indiors are thus employed by them, if at all, as an adjunct not as a
    predictor or prime mover. I'd love to see more of the knowledgeable traders
    here explain these fundamental correlations.

  7. #37
    Quote Originally Posted by ;
    Wow, somwone has had a year and a half with no losing commerce, must possess a billion dollar account by now.
    That's a really uncalled for statement. Perhaps you should have the decency to ask me how I do it. And maybe it is possible to find out something. However, if bashing is your style then I recommend you move on into the Trading System themes and bash the people there.

  8. #38
    Quote Originally Posted by ;
    I've never known technical analysis content why they wast their time.

    This simple if you believe the Eur going to X price just buy/sell it and buy doing this we'll realy understand what the analysis believes.

    Who the hell is paying them to develop with all this crap, or even better yet who is buying this crap so they may even get paid to write it at the first location.

    Don't get me wrong I do not mind reading a few excellent news articles but technical analysis forecast drives me up the wall.
    I am watching CNBC and Bloomberg daily and for each one technical adviser that says the eur/usd is going up, there are one which says the eur/usd is going down....so where does this leave us??? lol

  9. #39
    Quote Originally Posted by ;
    Yeah your incorrect!


    You can not calculate and you have no standard fundamental understanding.

    Nothing to do with this weather, do some homework and it could become less foggy.

    Sorry, but a very poor assumption.
    Please enligthen me then. I would love to find out more about calculations and fundamental understanding from you.

  10. #40
    Quote Originally Posted by ;
    If technical analysis predictions drives you up the wall, then do not hear it or read it. It is as straightforward as that. The issue is not with Technical Analysis or some other method, the issue lies inside traders . Please read Market Wizards, you'll fund a bunch of successful traders using completely different egies and analysis procedures.


    If you believe technical analysis is a waste of time, then why waste your time studying it. But allow me to tell you, have you any idea why you actually waste your time studying it? Because everyone is trying very hard to find the brilliant analysis methodology which will disclose to him/her where's the market likely to move next and predicated on this he/she will wither buy/cover or sell/short. This is why people who do not believe in technical analysis read specialized analysis.

    A final note, blaming technical analysis is not any better than blaming the market for reductions. A fantastic trader must have the guts to blame himself and only himself for his trading losses and not anyone else or any method.

    A quick illustration, I experienced a bad loss today from the gold market. I have been brief gold for about a month and that I was having a goal in your mind to pay my position. Today, I was re-assuring my analysis also found that gold has a possible support at $660 while gold was trading at $661-$663. I moved into a confusion as I am having a meeting for the whole day and will not have the ability to watch the market and at the same time, my goal remains far away. So I chose to play it safe and book my profits to protect against any end of week surprises contrary to my position. I covered the brief at the 660. 10 minutes later I told myself, if $660 is a fantastic support and the re-analysis is saying that the next two weeks will be between $660 and $680, why not reverse the position and take those $15-$20 points in my pocket? Seems like a fantastic deal with a stop loss of about $7. I initiated a long position at $660.10. I then entered my stop and limit orders left to my meeting.

    Afterwards when I came back and astonishingly, I found gold down by about $13 with a non for the day under my initial goal by about $1.4. Of course my stop got hit. Can you imagine the feeling you could get. I was brief, reversed and dropped on the trade. I wasted the original short position possible profit and turned it into a loss. Two bullets in the head. Whom did I blame? the market? Technical Analysis? My mom? The meeting? Of course I blamed no one but myself. I blamed myself for being an idiot to reverse the position at the first place and going with the low probability situation to take $15-$20 after earning around $40 from my initial high likelihood short. And I blamed myself for being a different idiot for covering my brief position earlier ahead of the initially set goal. I wouldn't have blamed myself when I'd covered my position 2 or $3 over my goal, but I insured it 10 above my goal that's a lot of money wasted and worse, lost. But at the close of the day, I just blamed myself for the mistake. Of course I was wise enough to play it safe and the size of the loss was negligible when compared with the initial profit because the brief was initiated, but excellence requires discipline and minimizing fool actions. You won't have the ability to be prosperous in the markets if you keep doing the same mistake twice. There are dozens and dozens of mistakes to be done while trading the markets, if you do every one of them you will go bankrupt until you know how much mistakes you haven't made for the first time are still abandoned.

    Blaming other people, both people or techniques do not bring victory. .


    Thanks,

    Nader
    I am reading technical analyses while I wait for my trades to close. Some of my trades take two months or more to close. So u can see I have lots of time on hand. . .lol

    I am totally NOT into trading systems. I buy when the price is low and sell when the price is high. Easy as that.

    I concur a trader can only blame himself if he looses a trade.

    Ouch about the dual loss on friday. Hope you make this up again.

    Ps....what do u consider this inverse relationship between gold and the usd?
    That is among the fundamentals that I kinda think....when usd is feeble then gold trades higher. . .and I can understand the logic behind it....gold is always a safe haven...

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