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Thread: My Trading Journal

  1. #81
    Senior Member
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    the pleasure is mine
    to be honest with you, I don't count waves at all. I'm just not a big fan of Mr. Elliot theory. It's to subjective for me, you see what you want to see, you can put waves anywhere and call it the "right count", I'm sure that pro traders can make a very good use of it... but I just don't like that approach, period:P Good location for me is basically how far the market went to one direction, how strong, and how much is it out of balance. Then I try to take the reversal trade.

  2. #82
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    I agree with you, I also think Elliot is very subiective...
    It is hard to know where one 1-2-3-4-5-A-B-C ended and strarted new one...
    But I try understand it.
    It's very interesting what you written about your look to good location, many thanks again

  3. #83
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    Update of the recent crab pattern. It's a shame, that the SL this time was so wide.

    My Trading Journal-crab-pattern.jpg

  4. #84
    Wizard
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    why not to consider moving to BE after some time?
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

  5. #85
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    well, I know that many traders do that, becasue since you move to BE you got a so called "free trade". But in my experience price often goes back to my entry level and then shoot out, so as my stats are showing me: I got better results trading with only 2 possible outcomes: lose or win. Anyway, thanks for your suggestion It always force me to think about the possible impact of it again, and maybe discover something new which I previously ignored.

  6. #86
    Wizard
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    if in majority of cases market does a deep retracement, maybe you want to consider extending your strategy by entering only on these deep retracements.
    btw: for my trades BE makes sense.
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

  7. #87
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    Today's trades:

    1) Failed Bat Pattern on AUDCAD

    My Trading Journal-bat-pattern-fail.jpg

    2) Running Crab and Butterfly

    My Trading Journal-butterfly-pattern.jpg

    My Trading Journal-crab-pattern.jpg

  8. #88
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    Today I was looking formations in the same place as you, but I missed them

  9. #89
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    Good one! On low TF the price is moving very fast. Remember, that sometimes, if you missed the entry, and the price didn’t travel very far away, then retraced to the entry price, it’s worth considering the “late entry”

  10. #90
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    Thanks, it's good tip

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