Elliott Wave EUR/USD

this is your last trade
"May 6, 2010, 1:49am #34 JahDave
I just bought it at 1.2825 with a stop at 1.2750 and a limit at 1.2975. "
You bought right before the crash.

I am wrong sometimes.......Maybe you should trade opposite of me and then you might do better than me, but I am selling Euro right now at 129.70..Good luck...

can you confirm applying Elliott Wave theory profitably ?

I have been profitable using Elliott Wave Theory for the last 8 or 10 months now. But with that being said I lost money trying to use it for the first year. I definitely think it is a valuable tool to have in your arsenal of trading methods, but for me there is no "Holy Grail" of trading. I started trading forex over two years ago and lost more money than I earned for the first year and a half. Here are the main tools I use to trade and it has been working consistently for me for the last eight or ten months:

Elliott Wave on trending and non-trending markets:

RSI works great during non-trending markets, but it will get you killed in trending markets, and Elliott Wave lets me know when to expect non-trending times in the market:

Fibonacci retracements and extensions at all times:

Candlestick patterns at EW and Fibo turning points:

and finally I do watch for upcoming economic announcements that are of high importance because they definitely can move the market.

This is a lot of work, but I don't know of an easy way to make money unless you pay to follow someone else's advice, or pay them to trade your money for you, and I find my trading work interesting and fun, unlike other jobs I have done in the past.

Here is my Euro day chart for today. Nothing has happened in the last several days to confirm either count I have. The 1.3264 is the bottom of wave 1, so if the Euro breaks above that we should have a bigger correction up and if it breaks below 1.25 it should show more weakness.

Anyway, I have had a really good week of trading. if anyone wants me to post all my entries and exits, then I will,,,,,,,,But of course I can't guarantee you the same results. I just want everyone to be profitable...

I would like to see a posting of a P/L blotter. Nothing is more inspiring than a picture of a big fat profit for the day. Anyway, just curious how much you are making.

Don't stop your chart analysis, though. They are very informative and I always look forward to looking at them.