How I Met with Elliot Wave?
As I explained in my last post "My Trading Journey" that I attended the 2 days training with Mr. Mukul Agrawal in December 2018 and after that training I was feeling confident for the technical analysis like I never felt earlier.
I started the trading and I was able to generate the profit too, but one bad day/trade, was making a big dent on my account and I was not able to understand why it is happening?
Elliot wave was in my back of mind so I was constantly searching YouTube for some good videos over Elliot Wave. I found one video of Mr. Sanjay Sinha. He explained that Glenn Neely worked on the Elliot wave and tried to remove the subjectivity and given a new name to his study called Neo Wave.
He suggested a book called "Mastering Elliot Wave" that cost RS.4000 so before investing big money I searched for a less costly option then I found a video of Mr. Ramkrishnan(RAMKI). He written a book "Five Waves to Financial Freedom".
This book explains the complex topic in easy way. Once I finished the impulse wave portion of this book I tried to applied the Elliot wave principals in real trading and I was totally amazed to see the results. I do not have words to express my feelings.
I want to make TWO statements here:
1. If a trade with good technical analysis comes in favor then it means the trader has taken the trade in the direction of the Elliot wave. It does not matter if you can see that wave or not. I am not talking about some magic but I am talking about the Elliot wave formation in the lower or higher time frames.
2.If a trade with good technical analysis goes against you then it means you have taken the trade against the direction of the Elliot wave.
If you are not able to understand these statements then you need to learn and experience the Elliot Wave.
Before the Elliot wave I found many strategies/Indicator/trading setup. These things looks good in reading and back testing but when we do the real trading they fails most of the time without any reason. May be they fails due to the reason I explained above.
When I trade on Elliot wave I feel confident because it tells me where we are and where we are going. It tells all this with logical Fibonacci calculations.
I started the trading and I was able to generate the profit too, but one bad day/trade, was making a big dent on my account and I was not able to understand why it is happening?
Elliot wave was in my back of mind so I was constantly searching YouTube for some good videos over Elliot Wave. I found one video of Mr. Sanjay Sinha. He explained that Glenn Neely worked on the Elliot wave and tried to remove the subjectivity and given a new name to his study called Neo Wave.
He suggested a book called "Mastering Elliot Wave" that cost RS.4000 so before investing big money I searched for a less costly option then I found a video of Mr. Ramkrishnan(RAMKI). He written a book "Five Waves to Financial Freedom".
This book explains the complex topic in easy way. Once I finished the impulse wave portion of this book I tried to applied the Elliot wave principals in real trading and I was totally amazed to see the results. I do not have words to express my feelings.
I want to make TWO statements here:
1. If a trade with good technical analysis comes in favor then it means the trader has taken the trade in the direction of the Elliot wave. It does not matter if you can see that wave or not. I am not talking about some magic but I am talking about the Elliot wave formation in the lower or higher time frames.
2.If a trade with good technical analysis goes against you then it means you have taken the trade against the direction of the Elliot wave.
If you are not able to understand these statements then you need to learn and experience the Elliot Wave.
Before the Elliot wave I found many strategies/Indicator/trading setup. These things looks good in reading and back testing but when we do the real trading they fails most of the time without any reason. May be they fails due to the reason I explained above.
When I trade on Elliot wave I feel confident because it tells me where we are and where we are going. It tells all this with logical Fibonacci calculations.
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