A key pillar of achieving consistency is to have a thorough knowledge of the market to determine possible future scenarios and be prepared to take advantage of opportunities that arise.
In our system we use Elliott Wave analysis in order to have market context and increase the. 4 likelihood of successful outcomes.
3 Pillars of Trading
1. Success Elliott Wave High Probability Setups
2. Supporting the Trader: Our Services
3. EUR/USD Wave Count
The second pillar to reaching the path to success is to have a highly effective strategy which is easy to understand when making a trading decision.
After a good analysis, strategy is used to identify the exact entry point, stop loss level and goal, to know when to trade and when to stay out of the market.
Removing the emotions is key.
3. Coaching and Accountability (Team)
To combine all the knowledge and apply it properly you need the third pillar which is Coaching - an expert to evaluate your trades and give you feedback to correct the mistakes and polish the entries and exits.
1. Analysis (Elliott Wave) Ralph Nelson Elliott
developed Elliott Wave Theory in the 1930's by studying various market indices over a 75-year period.
He discovered that stock markets, through to behave in a somewhat chaotic manner, in fact, did not.
They traded in repetitive cycles, which he discovered were the emotions of investors, or the predominant psychology of the masses at the time.
The Wave Principle
(1938) Patterns are tied to collective human behavior related to the Fibonacci sequence or golden ratio.
Foundation of Elliott Wave Theory The Science of Chaos - Complex shapes that look the same at different orders of magnitude. Fractals Noun. Self-similar patterns composed of smaller copies of themselves ad infinitum.
Occurrences in nature— From the clouds to the branches of a tree.
Basic Wave Patterns
In an uptrend or rising market:
• The impulsive wave moves with the predominant uptrend.
• The corrective wave moves against the predominant uptrend.
This 5-wave structure is then followed by the basic:
3-wave structure consisting of two downward movements that are separated by one upward movement.
Waves 1 and 2:
The bottoming period, driven by Ambivalence. Traders are indifferent and complacent, waiting for new clues as to the next move.
Bottom —less emotional and ambivalent as the market is still bearish at this point. No change in trend is evident.
Bearish mode—traders continue to sell so wave 2's movements are usually sharp, thus correcting most of wave 1.
The biggest trend period, driven by Confidence.Traders make the most money here— it is hard to lose money unless a trader gets in too late. Wave 4: Driven by Indecision. Too much whipsaw.
Powerful uptrend —an emotional thrust most often the longest and strongest. Greatest for profit potential. "A wonder to behold!"
Profit taking— early traders take profits. Others enter long and witness whipsaw price action. 'Wave 5: The final advance, driven by Greed. Bullish sentiment is still present although waning. Smart money is out. Final advance—last struggle to create new high prices, momentum divergences, blow-offs, and failures.
Wavy Tunnel Trades can be broken down into 2 TYPES:
1. Trend Following (3 setups) 2. End of Trend at Pt. 0 and Pt. T (2 setups)
17 Markets Analyzed! EUR/USD. GBP/USD AUD/USD. EUR/JPY, USD/JPY. USD/CHF: NZD/USD: EUR/AUD: GBP/UPY, SP&500, Gold Spot: Oil. Dollar Index. Dow 30 Index: Silver: Copper and US 10YR Yield!
FOREX TRADING ROOM SERVICE
Forex Trading Room. HOURS London Session - 2:45am to Sam EDT NY Session - 7.45am to 10am EDT!
END OF DAY STOCK AND OPTIONS ANALYSIS ROOM
Stock Trading Room: HOURS: Monday and Wednesday 4:00pm to 5 00pm EDT!
Do you place a trade and have no idea where to exit that trade?
Do you find that you buy tops and sell bottoms because you get caught up in the emotional frenzy of the market?
Wasting time and money?
Join Jody Samuels
(a former Wall Street Institutional Trader) as she shares her three decade-long experience trading currencies. Watch as Jody demystifies the Elliott Waves, breaks them down, and shows specific strategies to trade each type of market cycle in currencies. Jody will show you how to be on the right side of the market, so that you consistently pull profits out. At this workshop, Jody will reveal her favorite Elliott Wave setup that you can use immediately after the workshop. This one setup alone will transform your trading results!