Modern Elliot Wave trading using Elwave. - page 3
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Ok, stop loss was hit. No big deal 3%... But sometimes i get to think, nothing really is working, should i keep on with this method? I read others thread, everybody is here for the same thing. To improve their own trading. They want quick remedies to their own bad trading, that's why they keep coming back here, there jumping from one's method to another ones, switching, time frame, switching currency pair. Always looking for the holy grail. What if there is not any one method that work on all market condition. Apparently method only work within certain market condition. Either trend, either range, But current condition which is some kind of in-between trend or range mumblejuombo. Their must be a name for it. How to trade accordingly is something i don't yet have the wisdom to do.
Last time there was a big trend, started in august 2008 i couldn't jump in and ride it as i should, i drain my account and become completely pissed off, phisically, emotionally. I was trading mostly GBPUSD and i was range trading the 6 previous month with some success. Now i fell we are in the same situation. Euro, and GBP have been range trading for most of the summer. There have been no break out since a while, i feel that the next breakout will be a tremendous move, jumping in will be hard if i follow blindly EW, i don't have yet enough experience after 4 year in trading to be prepare for this event, if this even ever happen.
Any true help is really appreciated.
GreatYves,
I have come across few people in other forums who have used EW to their advantage and made good profit. Especially after the NFP news and when everything settled down this guy made 350 pips in one day on cable and guppy.
I think not everyone can apply EW correctly and win. I think we have to be patient and try again.
I have not used EW and don't know much about it but I'm planning to buy Elwave and learn about it.
May I know which modules and version of Elwave have you got?
Prognosis have a full trial version that last 1 month for i think 80$. The full premium version is about 2380$, and you need a datafeed. Their is plenty of options, google for prognosis website.
Prognosis have a full trial version that last 1 month for i think 80$. The full premium version is about 2380$, and you need a datafeed. Their is plenty of options, google for prognosis website.
Thanks for the info. May I know whether you use it with MetaStock or MT4?
Thanks for the info. May I know whether you use it with MetaStock or MT4?
So far i am only using MT4 .CSV files. Not as precise as esignal but OK for EW analysis.
Ok, EURUSD being a top of this downward channel, and it's inability to make a break out show it's weekness. I am very tempted to switch to a range trading method for the week. Elwave show exits area at 4177-4191 for long. It is still 140 pips away, i am not taking any long for now.
Downward channel having break up, And no obvious down-move, and very positive Summary Inspector.
Let me no choice but to take a long. TP 4385. SL 4323.
I am out of it with 2 pips. Got chicken out, we are more in a deep ranging market an a move back down to 4250 area is more probable. Will look to buy around 4200-4250. Seems more safe.