[rare moment] Still Profit Despite Wrong Reading on Chart

[Fajarini]

Picture can tell thousand words. Watch carefully chart 1

while price pattern was forming on Apr 30, 2010.

 

It seemed likely to be ideal triangle ABCDE with one long

wave of A and wave E didn't exceed end of wave C.

 

 

Along with this wave notation, short entry would be made

on the break of wave D.

 

[see chart 1, before proceeding]

 

But unfortunately, it turned out to be wrong wave labeling

on chart 1, as you can see it again on chart 2 after the price

moved further on May 14, 2010. Despite wrong reading on

chart 1, the short trade decision didn't collide against the new development of chart 2.

 

This is the rare moment while you still make profit despite

wrong reading of Elliot Wave on chart.

 

[see chart 2]

 

Q: By showing this example, you mean that Elliot Wave

trading method is easier to squeeze for profit?

A: No. It is very difficult to trade profitably by applying

Elliot Wave Method at beginning stage.

 

Q: What is the secret to trade profitably with Elliot Wave

Method?

A: There is no secret within every single trading method.

You need to know your own personality and find trading

methods out there that fit with your personality.

 

Q: Why you make things more complicated by first knowing

personality, that is nothing to do with profit?

A: You need to be in comfort zone when making trade decision.

 

Q: Is there any method that can lead me to my comfort zone?

A: You should acquire confidence on your trading method.

 

Q: How can I enhance my confidence toward my trading method?

A: This statement explains everything "Practice Makes Perfect".

Your long experience is the only way that leads to enhance

your confidence toward your trading method.

 

 

http://i720.photobucket.com/albums/ww202/Fajarini/Indo-Investasi/20100516-GBPUSD-H4.jpg

 

 

http://i720.photobucket.com/albums/ww202/Fajarini/Indo-Investasi/20100516-GBPUSD-H4-Full.jpg

 

 

http://i720.photobucket.com/albums/ww202/Fajarini/Indo-Investasi/20100516-GBPUSD-D.jpg

Edited May 16, 2010 by Fajarini