Hello every one....
Here I am going to share my real time trades based on wave theory....
the reason I named the thread with this title (wave theory with a cup of coffee) was only highlighting this simple and also vital principle that we are trading for living not living for trading which always remind me of one of the first books I used to read when I started analysing and trading. (Trading for a Living By Alexander Elder). I actually enjoy of a fresh brewed coffee, and I try to have it when ever I am doing my daily trading activities, this will remind me of that so called Elder's Book name.
I started trading and analysing (and actually learning how to do them) since five years ago, and with all hopes and wishes with all its hardship and suffering caused by its stresses and worries. I finally found that if there is a way of success in this career it should have these specifications.
1- first of all, it shouldn't be time consuming
2- it should be based on a profound conceptual analysis
3- we should try to trade in a set and forget way(at least this is true for me)
and you know why? let me explain it,
1- it shouldn't be time consuming because, this market is a multi dimension thing, with all fear and greed and buy and sell orders which are made by human feelings and there are always different feeling in different part of society... that's why I think the more you ponder on the chart the more you get caught up in overwhelming process of making different decision which finally you'll find them paradoxical.
Simplicity means doing something in an easy way, instead of attempting and struggling.
and besides, Trading is meant to be a way of freedom,(at least we are aiming for it)
2- it should be based on a profound and reliable concept. we all know that one of the main characters of this market is its unpredictability, but it doesn't mean we can not find any order in this market. ELLIOTTWAVE theory and Generally conception of wave analysis is one of the most powerful tools in technical analysing. I am not single minded that believe every move in market is based on elliottwave , but I really think we can use this theory at least for some point which we can easily see the famous corrective patterns. I really believe that if we want to have a good analysis and a good trade set-up we've got to have three satisfied criteria which are, pattern, price and time...I am not meant to describe all these things here and you can definitely find good resources about wave theory.
3- we should try to trade in a set and forget way. why? because I have found through these years of trading how destructive it is when you just monitor your trade to find out whether it's going to be a win trade or lose one. being attached to our trades is like a poison for this profession, I have passed all these stages and I remember how a loose position could affect your whole strategy and makes you so sceptical to your own strategy, while it probably was only a lose trade among other routine trades. especially when you have a good strategy based on a powerful principle and good risk/reward ratio, then just by being sceptical, just by being affected of pressure of stresses which have been on you by monitoring a loose trade, you will only ruin all your profession of being a good trader.
anyhow, I'd rather attaching to my cup of coffee than a trade which I have no control on it after being triggered, the only reason that we may want to monitor our trade is for trailing stop, which I think even for that reason we should write a code or a program, to do this job automatically.
here I am going to put some of my trade and analysis which are based on wave theory, meanwhile I will try to explain my reasons for those positions.
I usually put my trades about 10 to 12 GMT and sometimes I put a morning comment at around 6:30 to 7:30 GMT, then I just leave them and let them do what ever they want to do, cause I have more important things to do
because I put a name of cup of coffee, sometimes I will add something else to my posts, small poem or a link to a music or anything which free our mind for a while and point us in the direction of life.
Good luck
Amir Farhang
Here I am going to share my real time trades based on wave theory....
the reason I named the thread with this title (wave theory with a cup of coffee) was only highlighting this simple and also vital principle that we are trading for living not living for trading which always remind me of one of the first books I used to read when I started analysing and trading. (Trading for a Living By Alexander Elder). I actually enjoy of a fresh brewed coffee, and I try to have it when ever I am doing my daily trading activities, this will remind me of that so called Elder's Book name.
I started trading and analysing (and actually learning how to do them) since five years ago, and with all hopes and wishes with all its hardship and suffering caused by its stresses and worries. I finally found that if there is a way of success in this career it should have these specifications.
1- first of all, it shouldn't be time consuming
2- it should be based on a profound conceptual analysis
3- we should try to trade in a set and forget way(at least this is true for me)
and you know why? let me explain it,
1- it shouldn't be time consuming because, this market is a multi dimension thing, with all fear and greed and buy and sell orders which are made by human feelings and there are always different feeling in different part of society... that's why I think the more you ponder on the chart the more you get caught up in overwhelming process of making different decision which finally you'll find them paradoxical.
Simplicity means doing something in an easy way, instead of attempting and struggling.
and besides, Trading is meant to be a way of freedom,(at least we are aiming for it)
2- it should be based on a profound and reliable concept. we all know that one of the main characters of this market is its unpredictability, but it doesn't mean we can not find any order in this market. ELLIOTTWAVE theory and Generally conception of wave analysis is one of the most powerful tools in technical analysing. I am not single minded that believe every move in market is based on elliottwave , but I really think we can use this theory at least for some point which we can easily see the famous corrective patterns. I really believe that if we want to have a good analysis and a good trade set-up we've got to have three satisfied criteria which are, pattern, price and time...I am not meant to describe all these things here and you can definitely find good resources about wave theory.
3- we should try to trade in a set and forget way. why? because I have found through these years of trading how destructive it is when you just monitor your trade to find out whether it's going to be a win trade or lose one. being attached to our trades is like a poison for this profession, I have passed all these stages and I remember how a loose position could affect your whole strategy and makes you so sceptical to your own strategy, while it probably was only a lose trade among other routine trades. especially when you have a good strategy based on a powerful principle and good risk/reward ratio, then just by being sceptical, just by being affected of pressure of stresses which have been on you by monitoring a loose trade, you will only ruin all your profession of being a good trader.
anyhow, I'd rather attaching to my cup of coffee than a trade which I have no control on it after being triggered, the only reason that we may want to monitor our trade is for trailing stop, which I think even for that reason we should write a code or a program, to do this job automatically.
here I am going to put some of my trade and analysis which are based on wave theory, meanwhile I will try to explain my reasons for those positions.
I usually put my trades about 10 to 12 GMT and sometimes I put a morning comment at around 6:30 to 7:30 GMT, then I just leave them and let them do what ever they want to do, cause I have more important things to do
because I put a name of cup of coffee, sometimes I will add something else to my posts, small poem or a link to a music or anything which free our mind for a while and point us in the direction of life.
Good luck
Amir Farhang
