I have started this to help myself and others who are interested in Elliott Wave theory in relation to FOREX trading. I will post my trades taken and the profit targets and stop losses as i take the trades. Hope to learn more and teach more. (DO NOT TAKE THIS AS SIGNALS i do not give signals. Even if you take the trades i am not responsible for the winning and losses:)
“Many of life's failures are people who did not realize how close they were to success when they gave up.”
- Thomas Alva Edison
- Thomas Alva Edison
Thursday, April 8, 2010
19th trade
This was taken on the 8th april, on USDCAD 60 min. ENTRY was @ 1.0070 and SL was @ 1.0130.
On the 13 April the trade was set to breakeven and profit target is 0.9950.
Currently 14th april 1900 (GMT+8) i am setting the SL to 1.0010 (risk to reward becomes 1:1). Its better to protect the profits then let it lose like i did in trade 18.
Now its 15th April 1325 (GMT+8) i am setting my SL to 0.9995 (RR = 1: 1.25), reason being saw some resistance at this level.
Well my SL @ 0.9995 triggered at about 1700 to 1800 but it was a cool 75 pips gain.
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