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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

[MAKO232]

short 1,2880
stop 1,2950 ( -70 pips )
1st. target 1,2510 ( 370 pips )
2nd. 1,2170 ( 710 pips )

[marketwavez]

Euro,Trade- Setup


EUR/USD.............

Tommorows Outlook
----------------------------------

Sell Zone .......... 2740 2730 (stop )

Protective Stop ...............2882

1stTarget ------ ( See chart Posted below )

--------------------------------------------------
This trade has a Risk of about 50 pips

Can You stand to loose 50 pips? and be able to live another day to trade again ? ....
-This is what the expereienced trader is concerned with !

All the so called " Professionals " in here and out there are only concerned
about being right on the call ..............................................
Only fools are concerned with being right all the time !

again i say to you
There are people doing well at this being right only 50% of the time .

If you want to be succesfull at this thing called trading.......
You must do get scared evertime someone tells you they
are a so called Proessional . Be very afarid !
and
You should run for the hills when any one talks to you about the news ....

Don't waste your time with these .....

Concern yourself with Risk to Reward
and learning sound Money Mangement skills ..............

Because in the end its all comes down to this !

Trading is all your abilty to analize Risk and Protect your assets !

This is more imortant to understand than applying your trading style ...........
- Trading is not about who has the Right Wavecount !
- It is not about how many times in a row you were wrong on a call !
( All trading styles experience periods of what's called drawdown )
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//////////////////////////////////////////////////////////////////////////////////

Remeber the Lessons of Money Management-
In which will ultimately keep you out of trouble especially
when you are wrong about a particular market turn !
Don't over - extend yourself...........
Don't over - levrage yourself............

[Pipmaster]

Originally Posted by hoene003

hamidhossain: i blow that account
Thiamhok: how much u loss hamid?
hamidhossain: 900 dollars, don't laugh. that makes sence to me
Thiamhok: hamid!!!!
Thiamhok: give me 5
Thiamhok: i blew my account too
Thiamhok: going to stop
Thiamhok: another problem is, we keep getting bad call and missed good call
hamidhossain: i gave up

When someone comes in with huge expectations and trades to their margin, they are asking for trouble.

pipmaster-: Thiam... yes, but how many lots are you trading?
(11:43 AM) Thiamhok: full
(11:43 AM) Thiamhok: misunderstood about full position
(11:43 AM) Thiamhok: so i trade full lot of margin acc
(11:47 AM) Thiamhok: getting bad calls from surf with full position and getting best call with lil position and sometime missed the best call

[Svengali]

Stoxx_forex call for a "violent up movew real late to day and going to morrow and friday" resulted in a 100 pip drop!

I know it was already quoted but it is worth saying again. The violent up move did come. It was called over a week in advance and for 200 pips. Lovely 200 pip move there.
Still waiting to see some calls made to the right. Stoxx will still be around.


Svengali

[hoene003]

Originally Posted by Svengali

Stoxx_forex call for a "violent up movew real late to day and going to morrow and friday" resulted in a 100 pip drop!

I know it was already quoted but it is worth saying again. The violent up move did come. It was called over a week in advance and for 200 pips. Lovely 200 pip move there.
Still waiting to see some calls made to the right. Stoxx will still be around.


Svengali

Amazing !
But what can we do with this information Svengali ?
Just asking.

[beautyinmd]

Good Morning, I've been around for about 2yrs never commenting just watching but this morning I am prompted to comment to pipmaster about his last post. There is a thing called PERSONAL RESPONSIBILITY which alot of traders dont seem to be aware of.. They want to get calls and say Surfer made me lose,Surfer made a bad call, I killed my account playing victim is cool cause you get loads of stories and I'm sorry for you cries. But you can be a victim or you can be rich but you cannot be both. Because noone wants to hear I scratch my bentley.. no one gives a crap... this is the reason people give thier money to brokers when they trade stocks so they can say He recommended I do that and I lost ..It's all his fault..What if surfer went away..he would find another person to blame. Everyone is human and I can say that noone likes to be wrong so with that assumption I can say that every time someone gives a call its based on prior knowledge of the market and the fact that they are here to make money like everyone else.. If surfer gives a call and you believe its wrong.. TRADE THE OTHER WAY. It's that simple

[hoene003]

Originally Posted by beautyinmd

If surfer gives a call and you believe its wrong.. TRADE THE OTHER WAY. It's that simple

90 procent winners !

Look Beauty, a newbie does not expect that a signalprovider looses 4 times in a row in 1 day. And i don;t even start about the last 3 weeks. And next week you have to pay 150 a month

[Soul-Trader2004]

FX Surfer, please stop sending complaints whining about people that don't agree with you.

frankly we the moderators are sick of hearing them.

[fxsurfer]

Hi Soul-Trader2004 Moderator,

Originally Posted by Soul-Trader2004

FX Surfer, please stop sending complaints whining about people that don't agree with you.

frankly we the moderators are sick of hearing them.

How can I get in touch with someone higher up then the moderators ?
Thanks
Fxs

[beautyinmd]

hoene003 noone told them to pay.. they made that decision. live with it. Also with signal providers you trade thier signals in demo for a month till you understand. Apparently this person did not since he traded his entire account when he was told to trade a full position.. I'm not saying the calls lately were good.. I'm saying this guy needs to take responsibility for losing his entire account. Until he does- he will always lose and blame someone else..lets just hope next time it's not you people who blame will target anyone in a close vicinity

[Svengali]

Amazing !
But what can we do with this information Svengali ?
Just asking

Hoene,
Amazing! What's amazing is that you can't think what to do with this information. If you were told that you were going to be in a car accident, what would you do with the information. For you I think a light would come on, Amazing! but what do I do with this information? But then you would just blame the person who told you the information.
Still waiting for you to post your charts and calls for the future. I would be happy to watch your calls.

[hoene003]

Originally Posted by Svengali

Amazing !

Hoene,
Amazing! What's amazing is that you can't think what to do with this information. If you were told that you were going to be in a car accident, what would you do with the information.

svengali he does not tell you that YOU will be in a caraccident but ANYWHERE on the streets there will be a car accident. So what do you do, do you stay in your house (not trading) or do you choose a direction (buy or sell). Bottomline is: YOU CAN'T DO ANYTHING WITH IT !

[peteuk]

Originally Posted by Pipmaster

Lets just get this final bit out of the way so we can all move on. You have finally made something that looks like a call. OK, sell Eur at 1.2800 and cable at 1.9120. Your telly on your first call (as it stands at the moment) is -84 on Eur and -31 on cable, totalling to -115. Nice one!

(sigh) Some people just don't know when the party's over or how to accept a virtual handshake

You're obviously following advice from the likes of FXsurfer and Stoxx_forex! If you had the common sense to realise that intraday market moves are little more than noise generated by data and rhetoric from people like Trichet, Bernanke, and Zhou, as well as players whipping suckers like you and your pals around and taking your stops out you would have known to scale into trades and make money instead of losing it!

Both those trades would have produced profit for those who know what they're doing, suckers like you got stopped out for a loss.

Learn the market and how to trade it if you ever want to make money from it.

Originally Posted by Pipmaster

Looks like that "violent move up" came after all.

Regards

Pip

It's just a shame your lot were stopped out by the 100 pip move down before you had a chance!

Now are we done?

Originally Posted by hoene003

90 procent winners !

Look Beauty, a newbie does not expect that a signalprovider looses 4 times in a row in 1 day. And i don;t even start about the last 3 weeks. And next week you have to pay 150 a month

150 a month! The only track record they have is 3 solid weeks of losses, sound like a real bargain

[Pipmaster]

Originally Posted by beautyinmd

Good Morning, I've been around for about 2yrs never commenting just watching but this morning I am prompted to comment to pipmaster about his last post. There is a thing called PERSONAL RESPONSIBILITY which alot of traders dont seem to be aware of..

My post was to demonstrate that this person was highly leveraged and those that do it will most likely lose their account rather than buy that Porsche. This person has admitted that he only has himself to blame. The only person here trying to blame Surfer or Stoxx is hoene, who obviously does not understand the meaning of "personal responsibility".

Regards

Pip

[hoene003]

Originally Posted by Pipmaster

My post was to demonstrate that this person was highly leveraged and those that do it will most likely lose their account rather than buy that Porsche. This person has admitted that he only has himself to blame. The only person here trying to blame Surfer or Stoxx is hoene, who obviously does not understand the meaning of "personal responsibility".

Regards

Pip

Hi pipmaster,

You guys keep a log of his trades i read in this room, why not post the trades of the last 3 days here so everybody can check them out ?
Otherwise we can go on forever about his results and i am getting tired of this.

Just post them of the last 3 days when i was in this room so i can check them with the log i have of these days. I can't imagine this will not be a problem a professional signal provider provides transparacy.

Thanks in advance.