Dislikedhello all Traders, gload to salute you.
recently i was reading the Book Trading Chaos Ed 2.
i would like to share my entries, mostly to improve my technics, i had some good trades before, but have the need to improve this strategy, maybe you can help me as i can help you with my succees or mistakes.
i have a mini account only 500US$ so far. and not rushing to make full profit, wanna be a least at level one where no lost are while adquiring experience.
Here is an Eu/Us M5 chart where i pretend to take a sell position based on the Wise Man 1 signal.
here...Ignored
Hi
thank you for joining us in this lovely Chaos! Since you've asked for our opinion I'd like to thank you and take this opportunity to express what I think would be the right approach.
I personally believe the market has a definite structure. that structure is EW. Every currency, stock, commodity has its own peculiar character as well. Every time frame is essentially the same still a bit different. its like the structure of the human body, we are all essentially the same yet different.
Having said that, all markets trend. if not one TIMe Frame they must trend on a differnt time frame. If they did not then the structure of the market would have changed. it can change but so far, for the past 100 years or so all the graphs/charts are still behaving iin almost similar fashion. Many people think that Bill Williams first 2 books are too old hence they might have expired or run out or something.
I consider them as the Law of Gravity. We cannot say this law is too old now and we need to have something new. It applies exactly as it applied 1000 years ago. etc etc. The structure of the market is Elliott Wave. That structure can be traded using the incredible AO indicator. I believe one can trade only this indicator, just like Bill Williams mentions in his book.
In the third book they taught us how to trade reversals. it did not mean they put an end to trend trading. In their most recent interview they said they are most certainly trend traders but they also have a good mechanism to trade reversals as well. I believe reversals is for experts who'd traded trending markets for decades.
Having said all that, i cannot comment further but I'd like to share below what my understanding of "angulation" is.
ps: think about, the blue line is where price will be when there is no new incoming information. When price goes too fast, too far away from Balance Line i.e Blue line , the rubber band principle come into force. price comes back to it like magic.
Attached Image (click to enlarge)
i really apreciate your answer, this clarified more this strategy, to me,
really apreciate your answer.
