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
Friday, May 7, 2010
trade 72, i just cannot resist....
USDJPY entry @ 92.21, TP @ 88.63, SL @ 94.00,
I just cannot resist from trading......the market seems to be pulling me harder everytime i want to resist it.....so here is another trade
This is a big risk i am taking, a risk of 179 pips, i know its gonna hurt if it goes wrong, but no risk no gain. This was a carefully calculated trade.
It was in the second wave, missed the 76.4% fibo hence entered between the 76.4% and 61.8%, still within my plan.
Risk of 179 pips, not my plan, yes i deviated... i am already in the trade so i am just going to follow the rest of the plan.
Its trending down in the 15min, 60min, and 240min. 1440 min (Daily) its trending up. (using the 200 ema as a guide, read it somewhere and created my own indicator.) So overall its down and i am with the trend, or at least i think i am.
Well i realised yesterday after creating the indicator, i entered my last 3 trades against the trend. Well its too late to regret, but if i did not lose yesterday i would not have created the indicator, so its a good thing.
Exited @ BE...... its pretty obvious that i should have exited when in profits...... but thats not my plan.....
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