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[fxsurfer]

I am going to start a new thread with my simple Elliot Wave trading system.
I am doing this so as not to clog up other threads and also as a personal diary where I can keep track of my charts, analysis and trades as I go. EW trading incorporates many other TA techniques such as trend lines, s+r levels, fib. levels, divergence etc etc. When trading EW, what I am looking for are the major waves, to trade these and to get about 50% of these moves (anywhere between 50-150 pips). As the thread progresses I will add my thoughts and the way I trade the waves so lets me begin.
PS: I am by no means an expert in EW's and am learning as I go, I have been doing this for 6 months and know that I have lots more to learn and that this thread would be a good way to continue advancing. Also my notation is not to EW standards and I hope to improve this as I go.

Entry#1 4Hr chart
End of european trading July 6.
Euro is in minute wave iv up of the larger 3 down. The previous wave iii bottom was at 1.1867 and wave iv has now corrected to 1951 but not cofirming this as the top yet a break below 1.1890 would confirm this wave iv and the start of wave v down to a target of 1.1830. Wave 4's are messy affairs at times and trade these only if you are a good scalper. Levels to watch are 1.1955 and 1.1900. In between here for scalpers only. Long above close of 1.1980 and short on close below 1.1890.
See Daily chart below and 4 hr chart in the next entry

[peteuk]

Originally Posted by currencia

Yes, the words "little twit" will do just fine for you Petoooie. You are the one who siad best not to trade before the elections were over because it was gambling. So, now you want to quote and take credit for good trades during election. You do so after the fact. Did you decide to gamble after all?

Go post your own trades on your own thread instead of trying to be a full time vexation to others. Then we shall see how well you do when you chase breakouts for a scalp.

Currencia, this exchange is getting a little pointless as it's quite obvious you lack the experience or even basic understanding of how this market works and what drives it. Aside from that you seem unable to grasp the basic concept of highs and lows and high-probability trade set-ups, this has nothing to do with scalping or breakouts it's very simply trading a clearly defined range for which no complex analysis or expensive training course is required.

I've watched as people have got embroiled in counting waves when all they really needed to do was take a look at a very basic chart. The trade calls in the chat room this week, like the past 3 weeks have been nothing short of useless. Some people like to unnecessarily complicate things because it helps justify the exorbitant fees they want to charge inexperienced beginners.

As for the midterms like most news it's been a case of buy the rumour, sell the fact. Market reaction was muted and other news and data came into focus such as the Rumsfeld resignation and economic fundamentals like the trade deficit and interest rates, midterm results are old news.

Whether I traded or not is not going to affect anyone apart from me so I'm not sure why you're getting so excited about it.

[kenari05]

my short term target is 50% fibo, 1.2650-60... lets hope meet today

[currencia]

"The trade calls in the chat room this week, like the past 3 weeks have been nothing short of useless

So, go to your own room or thread and make your own calls twit.

All you want to do is bad mouth others because they do not trade nor think like you.

You do not even make any calls yourself. You simply speak in hindsight and then think you area genious while everyone else is stupid unless they trade and think just like you.

Nobody is excited. You are simply being called out for what you are-- an annoying, self centered, obnoxious little twit. You are wasting everone's time with your annoyances. Go make your own calls and we can watch how it's done by such expert as yourself. Meanwhile, get a life and stop pestering others with your nonsense about how they trade.

[weissdawg]

Originally Posted by peteuk

Currencia, this exchange is getting a little pointless as it's quite obvious you lack the experience or even basic understanding of how this market works and what drives it. Aside from that you seem unable to grasp the basic concept of highs and lows and high-probability trade set-ups, this has nothing to do with scalping or breakouts it's very simply trading a clearly defined range for which no complex analysis or expensive training course is required.

Jeez, now you are really wrong. One simple check of this man's past threads will let you become very aware of how awesome a trader he is. Listen, you may be a good trader too, but that has not been proven here. This guy has proven that he is one of the best traders here (if not THE BEST). For Pete's sake , he taught a guy that is an unbelievable trader in his own right. Say what you want to, but please know that you are talking to a serious dude.

Also, I urge you to give Stoxx a little bit more time. He is a lot better than you give him credit for, and will be back to kicking ass very soon...I guarantee!! His MM is a bit better than you'd think. He adds to winners and books HUGE profits quite often. I know you haven't seen this with your own eyes, but I have.

[kenari05]

Please comment

[peteuk]

Originally Posted by weissdawg

I know you haven't seen this with your own eyes, but I have.

You're right Weissdawg I haven't seen it with my own eyes and I'll only believe it when I see it! All I've seen called so far are losing trades and perhaps the odd few pips win on data spikes which don't go anywhere close to covering losses let alone show a profit. This past couple of weeks have been easy to trade (as I tried to show Currencia but he couldn't understand, he seems to think ranges have something to do with breakouts and scalping, hardly an 'awesome trader'!), trading is a lot simpler than some people think or like to make others think.

This isn't about the way someone trades or what strategy they use, it's about a couple of chancers out to try and con people out of money for a training course or signal service, neither of which are worth anything from what I've seen so far. Anyone who advises beginners to risk 5 or 10% on one trade or tries to scalp a few pips trading against a data spike is not someone I would call experienced.

I suppose the bottom line is if someone is stupid or gullible enough to pay for this stuff then they probably deserve to be ripped off!

[hoene003]

Originally Posted by weissdawg

This guy has proven that he is one of the best traders here (if not THE BEST). For Pete's sake , he taught a guy that is an unbelievable trader in his own right. Say what you want to, but please know that you are talking to a serious dude.

This is absolutely NOT proven with the facts. I keep a record of his trades here, the last 7 trades were stopped out. Bigger losses (40 pips) and small losses (10 pip) but very few winners. One winner from 1.2640 to 1.2581. Second winner from 1.2870 to 1.2817. The last one half of his position was stopped out on his cmc account because he "forgot" to raise his stop. He admits that himself.

So his record is terrible. I can give you thousands of strategies which are by far more profitable then this toppicking. Even by using Elliot Wave theory in another way it will be far more profitable with less risk. Just read a book.
This is a way of trading which is based on GREED. The FACTS show Surfer is not able to keep his account in the black. And I know because i am checking this thread for a long time and enter his paytalk room undercover

Well, all of this is no problem BUT he has something to sell to poor innocent newbies who are so green they don;t know what they are doing, so we have to show the facts and not only cheer when he has one of his few winners.
Realism.

[peteuk]

hoene003 I think weissdawg was talking about Currencia, although they all fit in the same category as far as I can see!

[Summerset]

Originally Posted by kenari05

Please comment

Hello Kenari,

On yr chart there is symmetry between the current top, & previous one made before it @ 2825. This and the shooting starts indicate that a retraction is coming. You are therefore biased to sell the 76 fib --> 38 fib shown in yellow, were it would intersect the blue trendline.

Yr chart however does not consider longterm or intermediate momentum. (no oscilators are shown).

On Monthly CCi is out right bullish with single +ve trade signal.

On Weekly CCi has crossed zeroline into bullish territory also with single +ve signal.

Now for the intermediate daily sense, were we are more concerned:-

On Daily CCi is trending in +ve configuration above +50, with potential for correction until the zero line only, and slight -ve divergence pressures. The average true range for Eurodollar would throw such a correction to meet <2710-2725> max .

The 4hr CCi has just made a +ve Zeroline rejection a short while ago, and will be shortly testing today's intraday true range high < 2807-2792>.

On 4hr the CCi is also confirmed +ve & trending.

If U were to take an intraday short trade, U can average a short position 1l2 at 2792, + another 1/2 at 2805.

Confirm, hold the position if negative divergences are showing on 4hr, on 1hr frames.

TP at 2755/60 (today's open) & slightly below. This is the max potential for the trade. Expect slowing & reversal above 2725, (today's max intraday ATR low).

The CCi configurations all being positive, 2650/80 cannot be made today except on fundamental breakouts.

Place SL at 2830/35- above max high made.

This would be a counter trend - "stiff" trade. MM wise U would risk 1-->2%.

If U wanted to go long (with the momentum all being above zero), U would wait & long 1/2 @ 2735 + 1l2 @ 2720. SL @ 2680.

Bailout of trade if price falls & closes below 2705 on hourly.

Targets would be 2800 & beyound. U would raise TSL to entry once price closed above 2750, & move in 35-->50 pip jumps.

Being a higher potentional trade, U would use 3-->5% on it.

All this is not taking the wave counts into account. Beign a technical trader, it is better to put trade emphasis on the mathematics or momentum. Meaning to always trade with the momentum - whatever oscillator U use.

[hoene003]

Originally Posted by peteuk

hoene003 I think weissdawg was talking about Currencia, although they all fit in the same category as far as I can see!

Currencia finished the Surfercourse 2 months ago so he is in the same category yes.

[Catalonia]

Hi!

Post 6135 (27-10-2006):

EURUSD is set to hit 1,2842 and then 1,2880-90 while holding above 1,2637 and (main) 1,2550-32. Below 1,2550-32 and holding, the way is to last lows and 1,2302 . But if we take into account what has EURUSD been doing the last 5 months, we can easily see that below 1,2500 it does not feel comfortable.

High on EURUSD so far: 1,2819 (07-11-06).
Low so far: 1,2663 (27-10-06).


Levels still alive.

Good luck!

[bearprofits]

Now I know you guys/gals have absolutely no idea what you are talking about. Professional traders don’t do this, don’t do that. The very top traders do exactly what you think is impossible. They pick the tops and ride them all the way to the bottom collecting all the pips and reverse and collect them all the way back up, the really good ones ride the smaller zig zags collecting 2 to 3 times the pips of the total wave.

On the subject of Currencia,

I have personally watched this man call trades “live” picking tops and bottoms, the likes would make you stain your drawers.

Check out this for just a small taste.

Euronext Week Nov 1

Euro Trade

Eurousd Short


You stay with the herd mentality and it will get you slaughtered and on someone’s dinner plate.

I’ve had enough of this place.

Bear

[fxsurfer]

Hi Catalonia (Nina), PeteUK (HenryHub) and Hoene003,

Since this thread is called Intraday trade recommendations, you are free to post your live calls for the next 2 days (2 weeks even, if you need). No need to tell us your system just calls. Nina I have asked you many times to post calls, those levels you give are not tradeable in real life and I know you dont trade a real account. As the saying goes put up or shut up

Good trading guys !
Fxs

[betun]

No one can never give the exat call even god.so dont argu with that silly thing.I follow this thread from long ago and fxsurfer gives us lots of technical knowledge and every body pls try to learn from it.
thanx

[hoene003]

Originally Posted by bearprofits

They pick the tops and ride them all the way to the bottom collecting all the pips and reverse and collect them all the way back up, the really good ones ride the smaller zig zags collecting 2 to 3 times the pips of the total wave.

Bear

If you follow this then you know why you don;t make money Bearprofits.
I have read lots and lots of interviews with succesfull traders especially in stockmarkets, they all will tell you the samestory. Because they just like you were toppickers and whiped out their account fast. They buy/sell dips in a trend and NEVER pick a top. Simply because its not possible. I want to bet that all these Elliotwavetraders picked a top at 1.2760 and then 1.2800 and were crushed again. Why ? Because the big money keeps buying until there are no buyers left. Then you have a top. And there is no way that you can predict that, if you do once and while, that's luck. If centralbanks start to sell 10 pip above the current price then that's your top.