Cancelled my sell stop order. You entered already? Where is your stop loss?
- #584
- Edited 11:49pm May 3, 2012 4:53pm | Edited 11:49pm
Hello all in this very special day for Poland. thats why i wasnt writing - this is our looong weekend 
Well im sure You dont know what is this day - well its just anniversary of 2nd constitution on whole world and yes it was Poland.
Anyway what i want to show You its just one position on EUR/JPY swing trade on H4. Hope You remember it:
Enter was over week ago.
1st transaction was close on 50% of last move (like 50-60pips) and now its +160pips and SL is over last 4h DT oscilator short signal.
Target was below last low - so its still over 100pips.
Well im sure You dont know what is this day - well its just anniversary of 2nd constitution on whole world and yes it was Poland.
Anyway what i want to show You its just one position on EUR/JPY swing trade on H4. Hope You remember it:
http://1.bp.blogspot.com/-jl7j0BLIYZ...0/eurjpy4h.gif
Enter was over week ago.
1st transaction was close on 50% of last move (like 50-60pips) and now its +160pips and SL is over last 4h DT oscilator short signal.
Target was below last low - so its still over 100pips.
OK. Seem like you wont make any profit if based on your probability with the R:R. Probability must at least 70% to breakeven. I am not sure how you do that if you manage to earn.
What time frame do you prefer to trade for Elliot Wave?
3:1 R:R means You earn 3 times more that u loose on trade.
If You loose 100usd in 1 trade and earn 300 and there is 50% chance You keep earing.
This is based on almost 10k transactions and almost 5yrs of trading scalp system.
I'm trading 1h and 4h with Elliot + Fibo + DT oscialltor - sometimes entering shorter TF.
I used to enter on 5minute but proabability was not good.
70% succes system wtih 3:1 risk/reward is holy grail
Haha.....i thought is Risk to Rewards Ratio. Well, you did great if based on the result of 5 yrs.
I agree with you for the 1H & 4H is the best time frame for wave according to my past experience. Actually 1m also has wave but the wave range is too small which can be ignored. Some ppl say some time frame doesn't obey Elliot Wave theory but this is not true. How you think?
Ah yes of course thats my fault.
I should write reward/risk or if risk/reward it should be 1:2,5-3.
Sorry for that
Well about Elliot.
Lets begin with 4h. We see lets say ipuls wave - it can be 1 or A.
On shorter Time Frame that impuls wave should be 5 wave or at least 3 wave if its wave A (that can say us if its A or 1)
So 4h implus wave on H1/30m should be full 5 or 3 wave formation.
Going down we have same situation.
H1 wave 1 or wave 1/A on 4h should also subdevide on 5 wave on 5minute chart
And we can do it as long we can - that should help to make SL shorter than entering from 4h for example.I think 1m or even 5m is little bit too short time frame.
You can make Ellito Waves count there but Fibo grouping will be impossible in such short time.
Good analise its really few minutes or even more. So 1minute is to small - but it should work also.