Open trades just touched +75 gbp, my seventh wave is really kicking in.
The Seventh Wave System 45 replies
GBPCHF Buying Wave (V) Elliot Wave 0 replies
Seventh Wave Trading (maybe it IS rocket science after all?) 64 replies
Elliot Wave for Short/Medium Term Traders? 14 replies
Is this a correct Elliot wave evaluation? 10 replies
DislikedSome small tweaks, I've added on to a few trades and sold audjpy too. 80 gbp up at the moment with good potential to go a lot further. That's 80 gbp up using 1 micro lot on each trade. Anyone interested yet?Ignored
DislikedI've decided on a change to the system. Rather than take profit at a set equity level I'm going to treat each trade individually and trail the stop loss. This means that there will be a few more stopped out and a few break evens but it should in theory be possible to catch nearly every big move. I find if you are trading with the trend it is just a matter of patience before the price puts in a nice move in your favour and there are some really big gains to be had. Also by trading every pair that is trending strongly rather than limiting your exposure...Ignored
DislikedI dont understand this concept. You buy if you think it will rise and sell if you think it will fall. What is the system here?
All I can see that you have done is place trades, but many of them. How does this give you an edge by saying "I place a trade if it THINK it will go this direction"?
What exactly is the system...Ignored
DislikedGood stuff, but maybe updating post one would be a good idea to keep your thread clean and save any confusion, looking good though, it's a clever concept and seems to make sense.Ignored
DislikedThanks guys for the response. I understand the rationale now.
I am too new to be sure but I think you can't buy & sell same currency in same pair or different pair, it will be considered hedging, won't it ?
You can't go short on EURUSD and be Short on USDJPY as well. Although chances are why would you do that? That will be some situation where USD is rising against EUR and going down against JPY. Theoretically its possible but practically I doubt.Ignored
DislikedI had a problem with the EA today, the basket reached my desired TP but instead of closing the trades i got an error message about DLL. once i cleared the error message all the trades closed even though the basket had retraced a bit and equity was not at the tp level. have you ever experienced that?
any way closed the basket at plus 1800pips. will open another one at london openIgnored
Disliked[color=red]For direction I am using support and resistance drawn on weekly charts zoomed out to find the most important round numbers (credit to a commercial member for that technique) and a 100sma, a 50 sma and a 3 sma of the typical price. The last is something from a book I read once called the pivot point ma and I find I quite like it for this method. Basically I take trades with the IMMEDIATE trend which means the direction the daily chart is moving over the last few days rather than over a longer term but I do prefer to take trades in the...Ignored
DislikedHello Hugh Briss,
Very good method. I will be following it with great interest.It will be very helpful if you could explain the entry with detail and with chart examples.I would also like to know how you create a basket(do you look at charts for each pair for entry etc?).Your detailed explaination will be grealy appreciated.How many pairs maximum you have in a basket?
BhupinderIgnored
DislikedIs it possible to post template in zip instead rar ?
Thanks
BhupinderIgnored