I think all systems work, we just don`t need to use one strategy for a long time. Forex is like a nature it has its own periods of time like an autumn, winter and etc...where you have to change the strategy types. Look at history which months your strategy had worked best and apply it when these months come again for example. I start to do it so. I have several strategies all of them shows profit in a separates periods of time(several months, half year) but then start not working and i am coming to conclusion that it`s time to apply my next system from my desktop folder( which one you have to do your own research)
Cable Update (GBPUSD)
- #419,643
- Sep 22, 2015 6:53pm Sep 22, 2015 6:53pm
- | Joined Dec 2010 | Status: Trader | 1,581 Posts
Hi guys, does any of you think GU is going to drop to 1.4950 before reaching 1.61? (correction of 1.4650-1.5920). I'm bullish on this pair, but I don't like how it drops recently.
How to opt out annoying user signatures ??
- #419,645
- Sep 22, 2015 9:09pm Sep 22, 2015 9:09pm
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
This year waves theory, fibonachi 38-61% levels, RSI 13, just dont work properly. If past year fibo waves on daily work 80% and pullbacked at 38,50 or 61% this year it do at 76% and 88%. Very strange moves cause how could you call a uptrend wave suppose from 5080-5818 that retraces 88% and then from 88% it brokes 5818 level. LOL.Thats the point most buy on 38-61%. Very predictable for marked maker to f. all again. Need to change system. What worked now dont.
I doubt you're on here, or will check back but i'm sure many of us can glean from these things today.
1st off, in all humility i had a "Long" that did NOT work out, (Either). I Clearly saw on GBP/JPY that
"Stinky-Shorts", were in order, -but i clearly missed the Correlation w/the Pound Itself.
I think, -(In fact, 'Knew, my Bias was long)
! -(I believed after such a run-up, there was more to come)! -Wrong.
Clearly the "Bigger" charts were telling us otherwise, was possible, if not, the TRUE trend, changing back.
I got "Faked" on the 61.8, also, -but in fact, we were NOT in a Giant A-B-C; RATHER, a Trend Reversal, Down SOUTH!
Usually you get an Five-Wave Run-Up, followed by an A-B-C, then ANOTHER 5-Wave Run-Up.
WELL, we ALREADY "HAD" that & So, it was time to "Give up the 'Ghost'"... And Run the Ship Down the Abyss.
Here is my Chart-
You can tell me there are some wrong point(s) in my numbering on this &-
and I'll "HEARTILLY AGREE" w/You.
All you need to know is Wave-3 always HAS to be the Longest of 1, 3, or 5.
i think our Desire(s) for what we wanted,
got the best of what the Chart was Screaming / vs. what our 'Perceived Edge(s) were telling us.
That's all,
There's always another trade / more to play at the park / ball diamond with.
One loss is just that... And it was just a "Busted Edge" that we may have /obviously perceived wrong.
It's ok. -Shrug it off & GO with TREND! -On a 60 Min, i don't even see Wave-3 Complete!
All the Best Gang,
Jeff ...
P.S. **** LAST NOTE: It would have been BETTER, ANYWAY, NOT to Take a FIB LEVEL, "NORTH", But Instead, to TRADE WITH the IMPULSIVE TREND... Always my losses are / can be
Taking what i think may be a Retrace. Playing Elliot w/TREND is the Key! Jeff Out
I will work to Objectively Identify my Edges
- #419,646
- Sep 22, 2015 11:05pm Sep 22, 2015 11:05pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Elliott Wave for optimum entry, exit and risk management of trades
- #419,647
- Sep 23, 2015 2:38am Sep 23, 2015 2:38am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Impulse wave [i] down is now scheduled to complete towards 1.5304, before retracing on the 2nd wave [ii].
http://www.forexfactory.com/showthre...67#post8502367
http://www.forexfactory.com/showthre...67#post8502367
Elliott Wave for optimum entry, exit and risk management of trades
- #419,648
- Edited 4:54am Sep 23, 2015 4:23am | Edited 4:54am
- Joined Apr 2011 | Status: Trader | 2,421 Posts
- #419,657
- Sep 23, 2015 7:56am Sep 23, 2015 7:56am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #419,658
- Sep 23, 2015 8:02am Sep 23, 2015 8:02am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
