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
Monday, April 26, 2010
trade 44
Taken on 26 april @ 1245hrs. EURJPY 60 min entry @ 125.76, TP @ 124.48 and SL @ 126.40.
Entry is a trial entry to identify the best way to trade the start of W.1.
Well another BE trade. BE = 3 pips........ :). This was the trade that exited last in the trial entries, the other 2 were lost trades, this was a BE trade, but probably i will be looking into getting more pips out of my trades as most of them go from good positive pips to BE. Like this trade went to a positive of 74 pips, but dropped back to exit @ BE. if i had set to a 1:1 risk to reward ratio, i would have won this trade as my risk is 63 pips, but my target for every trade is 1:2. What should i do?...... time to put on some thinking cap and look back at my trades........... : )
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