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 22, 2010
41st trade
USDCHF entry @ 1.0703, TP @ 1.0569 and SL @ 1.0770, taken on 22nd april @ 1045 hrs.
Well another loss trade, this cost about 67 pips. Guess i need to re-look at what i am doing wrong.
Everything was good. Entry between 61.8 and 76.4 fibo. One thing i forgot was to put to BE when it reached 1.0682. If i had done that it would be a BE trade. Also there was conflicting signals.
So lesson learnt, always BE the trade when it reached the specified price and most importantly Do not enter when there are conflicting signals.
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