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
Wednesday, May 12, 2010
trade 75, New Beginning.
EURJPY entry @ 118.19,SL @ 118.70, TP @ 117.17.
I was thinking and thinking very hard. How to solve the problem of getting more out of my BE trades, so i pushed the BE to 3 pips profit. It was a good idea but not enough for me.
Then a idea hit me, I tried that on this trade. i entered with 2 lots when 1 hit BE point i exit with the profits and set my SL to +3 pips. This earned me 40 pips on this trade.
Well since i am using 2 lots i am going to reduce my SL to 50 pips so even if i lost it will be 100 pips in total, won't hurt me.
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