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Originally Posted by MAXO
golhuntsleep, congratulation for this long-term analysis. This is very raliable analysis.
My advise for all of you guys who use elliott waves is to trade on smaller time-frames. The short-term trading gives to you a possibility for better money management - smaller stops and often profit taking.
Have a profitable trading!
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I agree, but it also makes sense to split your money into 2 or prefferably 3 degrees of wave. Long term (at least a day) these stops are larger but pips can be huge, plus there are a multitude of add on points.....Med term ( 3 hr charts) stops are smaller lots can increase AND you still can add on and hedge for retraces. and short term...small stops, max lots...MUCH tougher to read many times and "not as" reliable, but done right can be very profitable......
The key to havng a long term count is to know which way you really want to trade on the shorter time frames.....especially the 1-4 hr charts......