High of the Day: R2
Morning Reversal: Prior Day Close
Low of the Day: Camarilla L4
Close of the Day: 200 EMA
Profit 9,88 R optimized or
Profit 12 R trading all signals
Comparing all other trading methods I am using besides elliot wave I have to say that elliot wave still does have the best risk reward ratio. I took me a long time to mentally trade these signals because the entries appear to be unsafe, as its not a breakout and the trend has not clearly started yet, but anytime later you enter you simply risk too much...
Here is a list of trade also showing Crude Oil and the other Dax Methods I used to today:
Tradelist
However following these rules gave me a better feeling when trading the signals today:
Setup rules:
- Dont trade short signals below Camarilla L3 only below Camarilla L4 and above L3
- Stop trading for the day if 3400 EUR profit have been realized
- If the elliot osciallator is postive its most of the time valid to enter for a re-entry, today the 3rd short target from the short setup on thursday could have been reached on 4.10 am.
Exit rules:
- Exit short on 3th target but no between 9.30 and 10.40 as in these times prices tend to go a lot further than their projected targets.
- Trail stop after profit target of 100 Points have been reached
- Trail stop after extreme uptrends (ADXR 10,21 > 32)
Hi,
ReplyDeleteJust found your blog and it looks like you've got some very good stuff here.
Quite technical but worth reading.
Keep it up!
thx for the nice comment, you might also watch my http://dailyelliot.blogspot.com/
ReplyDeleteblog, where show trades based on daily charts (as a rule of thumb first be profitable by using daily charts then move down to the intraday signals)
but if you are stuggeling trading profitable, i recommend you not too look to find the answer in technical analysis but building up your own confidence and trading based on fundamental analysis (without knowing the right time of day and news events, you will have a hard time getting indicators to give you profitable signals)